An elevator system comprising: a traveling component movable along a guide rail (109; 309) within an elevator shaft; and an overspeed safety system (300; 540; 640) comprising: a safety brake (314, 320) and an electromechanical actuator (316, 322; 544; 644; 744) operably connected thereto, wherein a safety brake element (334; 542) of the safety brake (314, 320) is operable to engage with the guide rail (109; 309) to stop movement of the traveling component, the electromechanical actuator (316, 322; 544; 644; 744) comprising: a frame (548; 648; 748) mountable to the traveling component; a first magnetic element (550; 650; 750) movably attached to the frame (548; 648; 748), the first magnetic element (550; 650; 750) operably connected to the safety brake (314, 320); a second magnetic element (552; 652; 752) movably attached to the frame (548; 648; 748); and a third magnetic element (554; 654; 754) fixedly attached to the frame (548; 648; 748), wherein the second magnetic element (552; 652; 752) is movable from a first position to a second position to urge the first magnetic element (550; 650; 750) from a first position toward a second position, wherein in the second position, the first magnetic element (550; 650; 750) is located proximate the third magnetic element (554; 654; 754), and wherein as the first magnetic element (550; 650; 750) transitions from the first position to the second position, the safety brake element (334; 542) is actuated into engagement with the guide rail (109; 309). a traveling component movable along a guide rail (109; 309) within an elevator shaft; and an overspeed safety system (300; 540; 640) comprising: a safety brake (314, 320) and an electromechanical actuator (316, 322; 544; 644; 744) operably connected thereto, wherein a safety brake element (334; 542) of the safety brake (314, 320) is operable to engage with the guide rail (109; 309) to stop movement of the traveling component, the electromechanical actuator (316, 322; 544; 644; 744) comprising: a frame (548; 648; 748) mountable to the traveling component; a first magnetic element (550; 650; 750) movably attached to the frame (548; 648; 748), the first magnetic element (550; 650; 750) operably connected to the safety brake (314, 320); a second magnetic element (552; 652; 752) movably attached to the frame (548; 648; 748); and a third magnetic element (554; 654; 754) fixedly attached to the frame (548; 648; 748), wherein the second magnetic element (552; 652; 752) is movable from a first position to a second position to urge the first magnetic element (550; 650; 750) from a first position toward a second position, wherein in the second position, the first magnetic element (550; 650; 750) is located proximate the third magnetic element (554; 654; 754), and wherein as the first magnetic element (550; 650; 750) transitions from the first position to the second position, the safety brake element (334; 542) is actuated into engagement with the guide rail (109; 309). a safety brake (314, 320) and an electromechanical actuator (316, 322; 544; 644; 744) operably connected thereto, wherein a safety brake element (334; 542) of the safety brake (314, 320) is operable to engage with the guide rail (109; 309) to stop movement of the traveling component, the electromechanical actuator (316, 322; 544; 644; 744) comprising: a frame (548; 648; 748) mountable to the traveling component; a first magnetic element (550; 650; 750) movably attached to the frame (548; 648; 748), the first magnetic element (550; 650; 750) operably connected to the safety brake (314, 320); a second magnetic element (552; 652; 752) movably attached to the frame (548; 648; 748); and a third magnetic element (554; 654; 754) fixedly attached to the frame (548; 648; 748), wherein the second magnetic element (552; 652; 752) is movable from a first position to a second position to urge the first magnetic element (550; 650; 750) from a first position toward a second position, wherein in the second position, the first magnetic element (550; 650; 750) is located proximate the third magnetic element (554; 654; 754), and wherein as the first magnetic element (550; 650; 750) transitions from the first position to the second position, the safety brake element (334; 542) is actuated into engagement with the guide rail (109; 309).