Lincoln National : Helping Small Business Retirement Plans with New Products and Waived Fees

RADNOR, Pa., Sept. 10, 2020 - Lincoln Financial Group (NYSE: LNC) is making it easier for small business owners and the financial professionals who support them to offer retirement benefits that help meet their participants' needs.

The impact of COVID-19 has been significant for small businesses, and their employees. In today's environment, retirement savers consider their retirement savings as the most important area of their finances to protect, ahead of their income and maintaining their current lifestyle. And as a result of the financial impacts of COVID-19, more than half of retirement savers are more concerned about future market volatility than they were before the pandemic¹.

As a leading provider of small business retirement solutions, Lincoln Financial is offering new ways to help small business owners offer flexible, personalized solutions that fit their organization and will protect their employees from future market volatility.

'We know this is a challenging time for small business owners, and we want to do what we can to help them and their employees achieve long-term success,' said Ralph Ferraro, senior vice president, Retirement Plan Products & Solutions, Lincoln Financial Group. 'By enhancing the flexibility and personalization of our solutions, while also reducing the impact on their bottom line, we believe that more small businesses and their employees will be able to access superior retirement benefits.'

Flexibility and Personalization
The right investment options can help small businesses and their employees stay confident through this evolving economic environment, and by offering it at a competitive price, employers can focus their resources efficiently and effectively. Earlier this year, Lincoln Financial launched Lincoln Director^SMMulti-Manager - a solution built on Lincoln Variable Investment Product (LVIP) funds that leverages Lincoln Financial's internal investment management expertise and taps into the experience and knowledge of top asset managers from across the industry. To build on this innovative solution, Lincoln Director^SMMulti-Manager now includes the option of offering Stadion StoryLine Managed Account service using Multi-Manager investments ('Funds in Plan').

Now financial professionals have access to all the benefits of the Multi-Manager approach plus Stadion managed accounts, which use investments that financial professionals and the plan sponsors they work with have chosen to create personalized portfolios for every participant in the plan.

Guaranteed Income for Life
As concerns about future volatility are increasing awareness of products that offer guaranteed income, a quarter of retirement savers say the COVID-19 pandemic has made them more interested in these types of investment product². This is why Lincoln Financial is now offering Lincoln PathBuilder^SMIncome built with Stadion, which offers a portfolio of investments customized to meet participant needs (including downside market protection), while offering the fiduciary support plan sponsors need. At retirement, the participant may opt for a partial or full conversion of their account balance to an annuity to receive guaranteed lifetime income.

Waiving Fees
While personalization and protection are important to employers and their employees, small businesses have also been impacted by the market volatility and economic disruptions caused by COVID-19. With that in mind, clients who sign up for any Stadion service offered by Lincoln Financial, including Stadion StoryLine and Lincoln PathBuilder Income built with Stadion by Dec. 31, 2020, will receive a six-month Stadion fee waiver. For any new Lincoln Director Multi-Manager client who transfers plan assets by Dec. 31, Lincoln will also waive the asset charge for six months. In addition, Lincoln Director Multi-Manager is now available to start-up plans.

'We know that 2020 has been a difficult year for many small businesses, but we also know how important planning for their employees' future is,' said Joe Mrozek, vice president, national sales manager for the Intermediary Retirement Plan Services division of Lincoln Financial Distributors. 'With these new and expanded solutions, we look forward to working with financial professionals and the plan sponsors they work with to create plans that are flexible and build on the personalized support we're known for.'

These new features and enhancements to the Lincoln Director program build on other innovation, all designed to provide small businesses with leading retirement solutions. In 2019, Lincoln Financial Group introduced YourPath^SM portfolios for Lincoln Director. These target date portfolios are managed along multiple risk-based paths to support a more personalized investment approach based upon financial circumstances and risk tolerance, with fiduciary support by Morningstar Investment Management, LLC. To learn more, click here.

About Lincoln Financial Group
Lincoln Financial Group provides advice and solutions that help people take charge of their financial lives with confidence and optimism. Today, more than 17 million customers trust our retirement, insurance and wealth protection expertise to help address their lifestyle, savings and income goals, and guard against long-term care expenses. Headquartered in Radnor, Pennsylvania, Lincoln Financial Group is the marketing name for Lincoln National Corporation (NYSE:LNC) and its affiliates. The company had $270 billion in end-of-period account values as of June 30, 2020. Lincoln Financial Group is a committed corporate citizen included on major sustainability indices including the Dow Jones Sustainability Index North America and FTSE4Good. Dedicated to diversity and inclusion, we earned perfect 100 percent scores on the Corporate Equality Index and the Disability Equality Index, and rank among Forbes' World's Best Employers, Best Large Employers, Best Employers for Diversity, Best Employers for Women and JUST 100, and Newsweek's Most Responsible Companies. Learn more at: LincolnFinancial.com. Follow us on Facebook, Twitter, LinkedIn, and Instagram. Sign up for email alerts at http://newsroom.lfg.com.

Media Contacts:
Lucy MacNichol
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(1) Lincoln Financial & CivicScience Protection Survey. Data gathered by CivicScience: 6/18/2020 - 6/25/2020
(2) Lincoln Financial & CivicScience Protection Survey. Data gathered by CivicScience: 6/18/2020 - 6/25/2020