Lincoln Financial Selected as Provider for Placer County, Calif. Defined Contribution Retirement Plans

Wednesday, June 27, 2018 10:00 am EDT

Dateline:

RADNOR, Pa.

Public Company Information:

NYSE:
LNC
"We know thinking about retirement can be overwhelming, but together with Placer County we have the tools and the people to help prepare the county’s employees for retirement."

RADNOR, Pa.--(BUSINESS WIRE)--Lincoln Financial Group (NYSE:LNC) announced today that its Retirement Plan Services (RPS) business has been selected by Placer County, Calif. as the provider for its defined contribution retirement plans, effective June 25. There are more than 3,817 participants in Placer County’s retirement plans, with assets of $180M.

“We are honored to be able to support the employees of Placer County on their retirement journey, and uphold our commitment to serving those who serve others,” said Jamie Ohl, President, Retirement Plan Services, Lincoln Financial Group. “This spirit of service is strong in government plans like Placer County, where people wake up every day and give back to their community.”

“I was pleased, along with the rest of the Board, to formally award the County’s deferred compensation plan service contract to Lincoln Financial,” said Jim Holmes, Chair of the Board of Supervisors, Placer County. “Their industry knowledge and experience, coupled with comprehensive recordkeeping capabilities, a competitive cost structure, and robust employee communication and education will greatly benefit the County and our plan participants as they plan and save for retirement.”

Placer County employees participating in the plan will have access to Lincoln’s intuitive, mobile-enabled web experience, which makes it easy for savers to take action at the time and place that is right for them. Participants will also have access to Lincoln Retirement Consultants, who provide personalized education, to help people save more and ultimately achieve the retirement they envision.

“Lincoln presented the County with a very strong, competitive proposal,” said Matt Bartholomew, Placer Public Employee Organization representative. “I look forward to working with the Lincoln Financial team in the coming months to streamline our plan administration, lower overall administrative costs, and provide enhanced employee education to our plan participants.”

“We are thrilled about our new partnership with Placer County,” said Ohl. “We know thinking about retirement can be overwhelming, but together with Placer County we have the tools and the people to help prepare the county’s employees for retirement.”

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 $253 billion in assets under management as of March 31, 2018. Lincoln Financial Group is a committed corporate citizen and was named one of the Forbes Best Employers for 2018, is a member of the Dow Jones Sustainability Index North America, and received a perfect score of 100 percent on the 2018 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.

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 1.5 million participants through 20,000 plan sponsors with $68 billion in assets under management as of March 31, 2018.

LCN-2144499-060718

Contact:

Lincoln Financial Group
Brenda Haak, 484-583-8757
Brenda.Haak@lfg.com