Smolen to Lead Empower’s Workplace Solutions Unit
Empower today announced that Joe Smolen has been promoted to President of the Denver-based recordkeeper’s Workplace Solutions business unit, a role in which he will oversee strategy, growth, relationship management and product for the country’s second largest retirement services provider.
“Joe brings a strong track record of leadership to the role and extensive experience, having previously served as regional sales director for Empower and Executive Vice President and head of Empower’s Core & Institutional Market segments,” said Empower President and CEO Edmund F. Murphy III in a LinkedIn post announcing the news today.
“Joe is a proven leader who consistently delivers results while keeping clients and partners at the center of everything he does.”
Empower President and COO Rich Linton
“Joe is a proven leader who consistently delivers results while keeping clients and partners at the center of everything he does,” added Rich Linton, president and COO of Empower. “His deep understanding of the workplace retirement landscape, combined with his ability to lead high-performing teams, makes him exceptionally well suited to lead our Workplace Solutions business as we continue to innovate and grow.”
Empower’s Workplace Solutions business encompasses service to more than 61,000 employer-sponsored retirement plans and over 18.8 million plan participants; assets under administration are approximately $1.9 trillion, as of Sept. 30, 2025. Workplace Solutions serves all segments of the employer-sponsored retirement plan market: government 457 plans; small, mid-size, large and mega corporate 401(k) clients; nonprofit 403 (b) entities and private-label recordkeeping clients. The business offers defined contribution, defined benefit, non-qualified and consumer-directed healthcare plans as well as stock plan services.
A Colorado resident, Smolen is a long-serving Empower leader, having joined the company as a regional sales director in 1999. Following a progression of increased leadership roles, he took the reins of the core markets in 2017, adding Mid-Market in 2024.
Stolen also recently completed a tenure as Board Chair for the Society of Professional Record Keepers and Asset Managers (SPARK).
Munro to lead Core & Mid-Market segments
As part of this leadership transition, Empower also announced today that Ken Munro has been appointed Executive Vice President and head of the Core & Mid-Market segments, succeeding Smolen in the role. Munro will be responsible for advancing the segment’s strategic priorities and supporting continued growth and service excellence. He joined Empower in 2006 and was appointed to his current role as SVP, National Sales Director in 2021.
“Ken’s experience, operational expertise, and commitment to our clients position him well to build on the strong foundation Joe established,” Linton added. “This transition reflects the strength of our leadership bench and our continued focus on developing talent from within the organization.”
Reporting relationships will remain unchanged: Smolen will continue to report to Linton, and Munro will continue to report to Smolen. These changes are effective immediately.
Empower’s Core & Mid-Market segments work closely with advisors to serve and administer plans with assets up to $150 million, including start-up plans, pooled employer plans (PEPs) and multiple employer plans (MEPs). In total, the segment provides services to more than 44,000 retirement plan sponsors, encompassing more than $360 billion in assets under administration on behalf of more than 4.8 million plan participants, as of Sept. 30, 2025.
SEE ALSO:
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• Private Market Investments Take Off in Empower’s Retirement Plans
• Nationwide Welcomes New Leaders
Veteran financial services industry journalist Brian Anderson joined 401(k) Specialist as Managing Editor in January 2019. He has led editorial content for a variety of well-known properties including Insurance Forums, Life Insurance Selling, National Underwriter Life & Health, and Senior Market Advisor. He has always maintained a focus on providing readers with timely, useful information intended to help them build their business.