Meet a retirement consultant

Learn how a retirement consultant helps participants achieve better retirement outcomes.

Q: What's the retirement consultant role at Lincoln?

A: Retirement consultants help plan participants prepare for retirement by working closely with Lincoln relationship managers and communication consultants to create and execute participant communication and education strategies. Each day, they interact with participants to make sure they enroll in the plan, increase their contributions, and prepare for retirement. They also answer asset allocation questions, provide education about life events that could impact their retirement planning, and discuss their pension buyout options, if that applies to their situation.

Q: How do they help participants drive better retirement outcomes?

A: The Lincoln rule of thumb to help achieve a successful retirement is an 85 percent replacement rate. But each participant is different, so that may need to be adjusted according to their personal situation. The key is not to have tunnel vision. Retirement consultants look at the whole picture — Social Security, pension, nonqualified assets — and they make sure participants have a backup plan in case circumstances change.

Q: What tools do they commonly rely on?

A: They use the Click2Meet® online scheduling tool to set up meetings with participants when they’re on site. The tool allows them to be more productive and connect with more participants.

The Lincoln Path2RetirementSM tool shows retirement income scenarios and can help participants see what they need to do to retire by a certain age or to reach a certain retirement income level. The Social Security Analyzer provides a personalized look at a participant's Social Security options and can potentially maximize each participant's Social Security benefit.

Q: How do they interact with the plan sponsor?

A: When they’re on site, they proactively visit human resources to see if they can respond to any immediate needs and report on the positive meetings they’ve had with participants that day. They also discuss campaigns and presentations that Lincoln can provide, like the Social Security seminar or the Retirement Reality series, to increase engagement and work toward other plan goals.

Q: How does their work help meet plan sponsor goals?

A: Most plan sponsors like having as many assets in the plan as possible and for their employees to feel educated and prepared for retirement. Using the tools available, retirement consultants keep employees informed and help drive better retirement experiences, while making the plan sponsor look good. If the plan participants are happy, then the plan sponsor is happy.

This material is provided by The Lincoln National Life Insurance Company, Fort Wayne, IN, and, in New York, Lincoln Life & Annuity Company of New York, Syracuse, NY, and their applicable affiliates (collectively referred to as “Lincoln”). This material is intended for general use with the public. Lincoln does not provide investment advice, and this material is not intended to provide investment advice. Lincoln has financial interests that are served by the sale of Lincoln programs, products and services.