Many governmental retirement plan sponsors face cost concerns and the additional challenge of transitioning from defined benefit to defined contribution plans.
With over 1,000 457(b) plans, Lincoln Financial Group has extensive experience meeting their unique needs.
Engaging and motivating governmental participants
Lincoln is the fastest-growing provider of governmental retirement plans.1
As more governmental plan sponsors transition from defined benefit to defined contribution plans, the responsibility for retirement savings shifts to participants. We can work together to help participants achieve retirement readiness with the Lincoln InStep® Participant Retirement Program. Lincoln InStep offers on-site personal service, communication and education with comprehensive web tools and resources to help drive higher participant satisfaction and better retirement outcomes.
Our research reveals that while governmental participants can show low levels of engagement with their retirement plans, they do respond well to one-on-one assistance.2 In fact, governmental participants prefer to speak with a plan representative before they take action.3
By providing on-site personal service and customized solutions to meet your clients’ needs, our retirement consultants (RCs) aim to increase participant retirement readiness. We recognize that not all workplaces are traditional. Our RCs conduct meetings wherever it’s most convenient for the government and municipal workers they serve—whether that’s on a boat, in a port or at a train station—to help them plan for their futures.
Service tailored to your goals
We’re the fastest-growing retirement plan provider in the governmental market because we partner with you to ensure a positive, personal experience. Our dedicated relationship managers and highly trained client service teams respond to your needs, providing sophisticated administrative services and comprehensive fiduciary and compliance support.
You can rely on our expertise to:
- Engage a diverse workforce
- Provide face-to-face participant education
- Streamline plan administration and manage plan complexities
- Optimize plan design for defined benefit (DB) to defined contribution (DC) plan transitions
- Partner to create a tailored solution to best fit your clients’ needs
Getting started with Lincoln
Learn more about the benefits of working with Lincoln and help participants better prepare for retirement with confidence. Contact us today.
1LIMRA Not-for-Profit Retirement Market Report: 2015 vs. 2014 for government market asset growth
2Lincoln Retirement Power® Participant Engagement Study, Organization Type Report, 2016
3Lincoln Retirement Power® Participant Engagement Study, Organization Type Report, 2016