Lincoln Financial Group announced the launch of FlexPEP(k) and FlexPEP(b), comprehensive pooled employer plans (PEP) for 401(k) and 403(b) plans, respectively. With these side-by-side solutions, Lincoln aims to address the shared needs and interests of businesses and not-for-profit organizations for their retirement benefits, while also growing awareness of the value of PEPs. These tailored solutions add to Lincoln's lineup of group plan solutions totaling more than $1.3 billion in assets.

Smart Retirement Solutions Inc., focused on delivering independent fiduciary services to ease the burdens of plan sponsorship, will serve as the Pooled Plan Provider and Envestnet, a leading provider of technology, advanced insights and solutions for the wealth management industry, will serve as the 3(38) investment provider, managing the investment fund menu for both solutions. Research shows as employer size decreases, they are less likely to offer a retirement plan, with those offering a plan trending down from 90% for employers with 500 or more employees to 52% for employers with 1-49 employees. Small-to-medium businesses and not-for-profits stand to potentially benefit significantly from Lincoln Financial's newest offerings, as they consider navigating the complexities of retirement plan sponsorship with limited resources.

By adopting FlexPEP(k), they can offload the time and cost challenges they cite as primary obstacles to offering competitive retirement benefits that support attraction and retention of top talent. Both FlexPEP®? and FlexPEP®?

offer a full-service model, providing access to in-plan guaranteed income solutions and group plan discounts that could lead to lower overall plan costs. With multiple qualified default investment alternative (QDIA) options available, plan sponsors can tailor investment options to meet the diverse needs of their employees. This launch underscores Lincoln Financial's dedication to expanding its offerings and demonstrating value to current and prospective clients.

Lincoln continues to educate its network of financial professionals and is leveraging thought leadership to boost plan sponsors' knowledge of the potential benefits of PEPs, including FlexPEP(k) for 401(k) plans and FlexPEP(b) for 403(b) plans. Both FlexPEP(k) and FlexPEP(b) offer a full-service model, providing access to in-plan guaranteed income solutions and group plan discounts that could lead to lower overall plan costs. With multiple qualified default investment alternative (QDIA) options available, plan sponsors can tailor investment options to meet the diverse needs of their employees.