Lincoln Financial Group Announces New Ibbotson Fund Lineup for its Lincoln DirectorSM Retirement Program
PHILADELPHIA, August 6, 2009 Lincoln Financial Group, today announced that it has added a new offering to the Ibbotson Insight Series Fund Lineup within the Lincoln DirectorSM group variable annuity. The Lincoln Ibbotson Insight Series now includes both a Core and Expanded lineup. The Core lineup, which includes 20 investments from the Lincoln DirectorSM group variable annuity, is geared toward plan sponsors that want a simplified approach to investing with an emphasis on funds that are lower in cost. The new Expanded lineup has additional fund offerings 32 in all and includes additional funds from most asset classes.
The Lincoln Ibbotson Insight Series is a specially crafted fund lineup from a pool of now more than 90 investment options tailored to fit the needs of plan sponsors. In addition to simplifying the selection process, Ibbotson Associates, a registered investment advisor and wholly owned subsidiary of Morningstar, Inc., acts as a fiduciary for the investment lineup it recommends.
"Plan sponsors need to ensure that they select the right investments for their participants, provide diversified investment options and establish a process to monitor their fund selections," said Cindy King, head of Defined Contribution Product, Retirement Solutions, Lincoln Financial. "With the Lincoln Ibbotson Insight Series offerings, clients will have those services provided for them so that they can develop the right retirement program that best suits the needs of their employees."
Ibbotson Associates selects investment options for the Lincoln Ibbotson Insight Series lineup from the investments available in the Lincoln Director group variable annuity. Selections represent the core asset classes that constitute a prudent investment tailored for retirement plan investing. Ibbotson Associates works with plan providers to assist their small- to mid-size plan sponsor clients with selecting and monitoring the investment lineup for their retirement plans. Ibbotson filters investment options through peer-group rankings and selects only those that have consistent style and have generated returns while controlling risk. Ibbotson also monitors the investment options on an ongoing basis to help ensure that they continue to meet the selection criteria.
The Lincoln Director retirement program also includes a Fiduciary Services Guarantee to ensure plan sponsors have the fiduciary guidance they need to support all regulatory and administrative requirements of the plan. The Fiduciary Services Guarantee includes:
Assurance that the plan's investment options can be crafted to be a prudent investment lineup.
Provides that the funds made available can be used to craft a diverse lineup that can meet the diversity requirements of ERISA Section 404(c).
Provides that the funds can be combined so that an allocation strategy can be utilized to reduce the risk of large losses.
If the funds made available by Lincoln do not meet any of these requirements, Lincoln will reimburse the employer for losses suffered.
"Because the demographics and investing experience of participants vary from plan to plan, it's beneficial for plan sponsors to have options when selecting an appropriate investment lineup," said Dr. Peng Chen, president of Ibbotson Associates. "We are pleased to help Lincoln offer a choice of lineups to plan sponsors, which enables them to better match investment offerings with the preferences and sophistication of their participant base."
Lincoln DirectorSM variable annuities are issued by The Lincoln National Life Insurance Company, Fort Wayne, IN, on contract form #19476 (and state variations thereof). Contractual obligations are backed by the claims-paying ability of The Lincoln National Life Insurance Company. The Lincoln National Life Insurance Company is not licensed and does not solicit business in the state of New York.
In New York, group variable annuities, Lincoln DirectorSM and Lincoln American Legacy RetirementSM are issued by Lincoln Life & Annuity Company of New York, Syracuse, NY on policy form #19476NY-A 7/04. The contractual obligations are backed by the claims-paying ability of Lincoln Life & Annuity Company of New York.
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 $171 billion as of March 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; mutual funds; managed accounts; institutional investments; and comprehensive financial planning and advisory services. Affiliates also include: Delaware Investments, the marketing name for Delaware Management Holdings, Inc. and its subsidiaries; and Lincoln UK. For more information, including a copy of our most recent SEC reports containing our balance sheets, please visit www.LincolnFinancial.com.
About Ibbotson Associates and Morningstar, Inc.
Associates is a leading independent provider of asset allocation, manager selection, and portfolio construction services. The company leverages its innovative and ground-breaking academic research to create customized investment advisory solutions that help investors meet their goals. Founded by Professor Roger Ibbotson in 1977, Ibbotson Associates is a registered investment advisor and a wholly owned subsidiary of Morningstar, Inc.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offers an extensive line of Internet, software, and print-based products and services for individuals, financial advisors, and institutions. Morningstar provides data on more than 300,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 4 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. The company has operations in 19 countries and minority ownership positions in companies based in three other countries.