Press Release

Penelope Expands Advisory Team with Retirement Industry Veterans

Issued by Penelope

Apr. 3, 2025

The team will focus on accelerating new market growth

NEW YORK -- Penelope, a retirement services platform built for small and mid-sized businesses, today announced the addition of three senior advisors to its team: Marcia Wagner, Kevin Crain and Lisa Kottler. These seasoned leaders bring decades of experience across retirement policy and regulations, technology, financial services, and plan design as Penelope accelerates growth to meet rising market demand.

"There are 34 million businesses in the U.S., yet only around 700,000 offer a 401(k)—leaving the vast majority of employees underserved," said Jean Smart, CEO and founder of Penelope. "As states roll out new retirement mandates, SMBs are looking for trusted partners to navigate the changes. The addition of Marcia, Kevin and Lisa to our team could not come at a better time. Their deep expertise will help us continue to expand our retirement platform, powered by a modern tech stack that takes advantage of AI. Together, we're delivering innovative, compliant, and easy-to-use solutions that empower businesses and their employees to build a better financial future."

• Marcia Wagner, is the founder of The Wagner Law Group, one of the nation's most respected law firms specializing in ERISA, employee benefits, and executive compensation. With over 38 years of experience, Marcia is a leading authority on qualified and non-qualified retirement plans, fiduciary compliance, deferred compensation, and welfare benefit arrangements. She advises on plan design, regulatory compliance, and tax matters related to ERISA and the Internal Revenue Code, and frequently serves as an expert witness in ERISA litigation. Marcia is a member of the Board of Directors for the American Benefits Council and the Board of Governors of the American College of Employee Benefits Counsel. A prolific author and nationally recognized speaker, she has published 27 books and hundreds of articles and is regularly featured in top financial outlets including Fox, CNN, Bloomberg, and NBC.
• Kevin Crain is a nationally recognized expert in retirement services and financial wellness, with over 40 years of leadership experience across the retirement industry. He most recently served as Head of Retirement Research at Bank of America, where he led groundbreaking studies on employee benefits, longevity, and financial well-being, with a focus on underserved and diverse populations. Kevin now serves as Executive Director of the Institutional Retirement Income Council and holds advisory roles with McKinsey, the Milken Institute, and the Global Coalition on Aging. A trusted thought leader and public policy advocate, Kevin continues to shape the future of retirement through research, innovation, and cross-sector collaboration.
• Lisa Kottler is a seasoned leader with deep fintech and startup expertise. As a Partner in Strategic Growth & Innovation at KWP, she advises C-suite leaders on go-to-market strategy, growth, and emerging technologies. Lisa previously built NFP's retirement division into a nationally recognized leader and held leadership roles at Voya, CIGNA, and Schwab. She was among the first to develop a digital 401(k) pooled employer plan (PEP) designed for startups and continues to be a driving force at the intersection of behavioral finance, tech innovation, and retirement access. A recognized thought leader and policy advocate, Lisa has been named one of the "100 Most Influential People in the DC Industry" by 401kWire for three consecutive years.

To learn more about Penelope's small business retirement solutions, visit https://penelope.co.

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