RADNOR, Pa.--(BUSINESS WIRE)--Lincoln Financial Group (NYSE:LNC), a leading provider of retirement savings plans, announced its Retirement Plan Services (RPS) business has been selected by MJHS Health System as the provider for its 403(b) and 401(a) defined contribution retirement plans, effective Oct. 2, 2017. MJHS Health System’s retirement plans serve more than 2,700 participants in the New York area, representing approximately $153 million in retirement savings.
“After an extensive review process, we selected Lincoln Financial Group to manage our two plans because of their leadership in the retirement planning industry and a shared focus on encouraging employees to save for retirement and stay on track with reaching individual goals,” said Susan Bornstein, Chief Human Resources Officer of MJHS Health System. “With the transition in place, MJHS Health System employees now have expanded investment options, access to a robust easy-to-use technology platform and a personalized user experience that presents more ways to make the most of retirement savings.”
Lincoln Financial’s plan offerings to MJHS Health System employees include comprehensive education resources designed to proactively help participants with all aspects of retirement planning. The combination of Lincoln Financial’s high-touch, high-tech service delivers proven outcomes for both plan sponsors and participants.
“As the plan consultant for MJHS Health System, we conducted a thorough due diligence review on a number of different record keepers,” said Carol A. Idone, Vice President, Client Relationship Management and Consulting, Strategic Benefit Services. “We are confident Lincoln will provide the level of services for MJHS Health System and their employees to improve retirement outcomes and plan administration.”
Participants will have access to Lincoln Financial’s intuitive, mobile-enabled web experience, making it easy for savers to take action at the time and place that is right for them. They will also have access to Lincoln Retirement Consultants, who can help to educate participants about retirement.
“We are thrilled about our new partnership with MJHS Health System, and are dedicated to motivating its participants to take actions that lead to better retirement outcomes,” said Jamie Ohl, president, RPS, Lincoln Financial Group. “We have extensive expertise in the health care sector and are honored to serve MJHS Health System employees, who dedicate their lives to serving others. Our personalized service and the tools we offer can help all MJHS Health System employees achieve the retirement they envision.”
About MJHS Health System
One hundred and ten years ago, four courageous women in Brooklyn saw people in desperate need of care and loving kindness. Determined to do something, they made it their mission to change what they saw. Based on the core values of compassion, dignity and respect, and with the help of charitable support, these determined women provided poor, elderly members of the community with quality health care and a safe place to live. Although MJHS Health System has grown from caring for dozens of patients to thousands, the mission to provide the best care and comfort possible has never wavered. Since 1907, the organization has expanded from one small building among the tenements to one of the largest not-for-profit health systems in the region that provides home care, hospice and palliative care for adults and children, a center for rehabilitation and nursing care and the research-based MJHS Institute for Innovation in Palliative Care. It also includes Elderplan, which offers health plans for Medicare and Dual Eligible beneficiaries and its managed long- term care plan, HomeFirst, one of the original MLTC plans in New York. Many MJHS Health System programs and services are aided by grants from MJHS Foundation, which is supported by private and corporate donations. For more information, please visit www.mjhs.org.
About Retirement Plan Services
For more than 50 years, Lincoln Financial Group’s Retirement Plan Services (RPS) business has been helping savers boost their retirement readiness through employer-sponsored plans. Our retirement plans help employers recruit and retain top talent, while our combination of high-tech and high-touch service creates an engaging customer experience that drives positive outcomes. The RPS business helps people understand how steps they take today can help them get to and through retirement tomorrow. The business serves approximately 1.4 million participants through 21,000 plan sponsors with $65 billion in assets under management as of September 30, 2017.
About Lincoln Financial Group
Lincoln Financial Group provides advice and solutions that help empower people to 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, as well as to 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 $246 billion in assets under management as of September 30, 2017. Lincoln is a committed corporate citizen and was named one of the Forbes Best Employers for 2017, is a member of the Dow Jones Sustainability Index North America, and received a perfect score of 100 percent on the 2017 Corporate Equality Index. Learn more at: www.LincolnFinancial.com. Follow us on Facebook, Twitter, LinkedIn, and Instagram. Sign up for email alerts at http://newsroom.lfg.com.