Lincoln Financial Group Enhances its Lincoln Unifier(R) Service
Suite of Services Designed to Help Employers Navigate Retirement Plan Administration
PHILADELPHIA, Feb. 17 /PRNewswire-FirstCall/ -- Lincoln National Corporation (NYSE: LNC) has enhanced its Lincoln Unifier® service offering to further assist employers meet the administrative challenges of bringing retirement plans into compliance with the new 403(b) regulations. Lincoln Unifier® includes common remitter administration, compliance monitoring and now a newly enhanced proactive transaction monitoring service.
With the new proactive transaction monitoring feature on the Lincoln Unifier® Service, plan sponsors can:
- Assign 403(b) transaction compliance review to vendors.
- Monitor vendor transactions and compliance via online reports.
- Achieve real-time transaction review across the plan.
"While the new 403(b) regulations increase employer responsibility, the enhanced Lincoln Unifier® provides a streamlined, simplified solution," said Chuck Cornelio, President, Defined Contribution. "This offering is another example of Lincoln Financial's commitment to the Defined Contribution industry by providing support to our plan sponsors and helping to ensure participants secure their financial futures."
The proactive transaction monitoring process verifies compliance of transactions across all vendors, identifies any potential compliance issues, and notifies the plan sponsor of any potential conflicts. If an issue is found, online reports quickly locate the source including identifying vendors that may have processed transactions without proper proactive review.
"The proactive monitoring process within Lincoln Unifier® eliminates issues with participant confusion, transaction delays and plan sponsor administration," said Michele Booth, Vice President, Defined Contribution Client Services. "The service allows participants to work directly with vendors and ensures the necessary oversight to keep the plan in compliance."
Lincoln Unifier® is one of the cornerstones of the Lincoln 403(b)e SURE(SM) Advantage offering that includes services, tools, and education that enable employers to meet administrative requirements while allowing their participants to reach a more secure retirement. The Lincoln 403(b)e SURE Advantage also offers plan document services, a sample document for non-ERISA plans, and custom document services for ERISA plans.
About Lincoln Financial Group
Lincoln Financial Group is the marketing name for Lincoln National Corporation (NYSE: LNC) and its affiliates. With headquarters in the Philadelphia region, the companies of Lincoln Financial Group had assets under management of $141 billion as of December 31, 2009. Through its affiliated companies, Lincoln Financial Group offers: annuities; life, group life and disability insurance; 401(k) and 403(b) plans; savings plans; and comprehensive financial planning and advisory services. For more information, including a copy of our most recent SEC reports containing our balance sheets, please visit www.LincolnFinancial.com.
SOURCE Lincoln Financial Group
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