Empower’s government and Taft-Hartley businesses encompass service to roughly 14,400 retirement plans; 7,590 clients; and approximately 6 million plan participants

GREENWOOD VILLAGE, COLO. June 2, 2026 – Empower today announced the promotion of Marybeth Daubenspeck to executive vice president of government and Taft-Hartley businesses at Empower, the nation’s second largest retirement and wealth management services provider.

The government and Taft-Hartley businesses serve public sector employees and trade union retirement plans and the millions of workers who dedicate their lives to serving others — including teachers, first responders, public employees, and skilled trade professionals across the country. 

Empower’s government and Taft-Hartley businesses encompass service to roughly 14,400 retirement plans; 7,590 clients; and approximately 6 million plan participants. Assets under administration (AUA) are approximately $403 billion as of March 31, 2026.
“Marybeth will be responsible for advancing Empower’s growth strategy, strengthening client relationships, and continuing to deliver exceptional service and value across these segments,” said Joe Smolen, president of Workplace Solutions at Empower. “She has a natural aptitude for leadership and her experience supporting our customers has always gone above and beyond. I’m confident she will help drive these businesses forward while supporting the financial futures of those we serve.”

Daubenspeck will report to Smolen and has recently assumed the new role. 

“The growth and success we’ve achieved across these unique segments make this new opportunity particularly exciting and rewarding,” said Daubenspeck. “Helping the individuals who serve our communities has been something I’ve been very proud of. When they succeed, we succeed -- and that will continue be our focus.”

Daubenspeck’s tenure at Empower is highlighted by her long-standing commitment to the company and her vast experience. A native of Long Island, New York, she joined Empower as a legal secretary at age 19 and, with this appointment, takes on leadership of one of the company’s biggest and most expansive units.

“In so many ways, Marybeth represents the best of Empower. She’s absolutely devoted to her clients and the people she works with. What more could you ask for in a leader?” said Smolen. “I cannot be more excited to see her take the reins of this important segment and do even more for these deserving clients.”

Daubenspeck has held many positions during her tenure at Empower, most recently as vice president of Government Markets, where she led a $120B AUA portfolio and drove strategic growth, client retention, operational performance, and organizational transformation initiatives. Prior to that, she served as vice president of Institutional Markets, where she was responsible for business performance, client acquisition and retention, contract governance, and long-term strategic growth initiatives.

Empower is one of the largest providers of government 457 retirement plans in the country, serving entities across states, cities, counties, municipalities, associates, territories, and special districts (such as transit and utility), as well as police and fire departments, providing recordkeeping, administration, and investment services for 29 state retirement programs.

Learn about Empower’s 2025 government research: Empowering America’s Financial JourneyTM: Government sector. 

About Empower
Recognized as a leader in retirement services and wealth management,1 Empower administers over $2.0 trillion in assets2 for more than 20 million individuals through the provision of workplace and individual retirement plans, advice, financial planning, and investments. Connect with us on empower.com, Facebook, X, LinkedIn, TikTok, and Instagram.

Media contacts
Stephen Gawlik - [email protected]
Mandy Cassano - [email protected]