Lincoln Financial, NPPG and Morningstar Investment Management Provide Retirement Plan Options for Business Owners Through Common Employer Plan

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RADNOR, Pa .– (COMMERCIAL THREAD)–Today, Lincoln Financial Group (NYSE: LNC) announced that it is improving its retirement plan options by launching a common employer plan (PEP), OpenPEP, in conjunction with NPPG Plan Professionals, a subsidiary of National Professional Planning Group, Inc. (NPPG ) and Morningstar Investment Management LLC. , a subsidiary of Morningstar, Inc. OpenPEP offers enhanced customization through custom plan design options and qualified default investment alternatives, and differentiates itself in the market by offering guaranteed income in the plan as an option to investment.

In today’s competitive talent market, it’s more important than ever for companies to offer a competitive benefit package, including employer-sponsored pension plans, to attract and retain the best. talents. In fact, nearly three-quarters (74%) of employees in small businesses say having an employer-sponsored retirement savings plan is a “must” or very important when considering an employer.1 Consumers are also very interested in pension plans that help convert savings into lifetime income, with over 70% of pension plan members expressing interest in an investment option in the plan that would provide them with guaranteed income at the end of the day. life.2

“The SECURE Act has opened up new opportunities for our industry to help close the pension coverage gap by making it easier and more cost effective for employers to offer these essential savings vehicles to their employees through a PEP.” said Ralph Ferraro, senior vice president. , Pension Products and Solutions, Lincoln Financial Group. “Financial security and guaranteed income are increasingly important to employees, and through OpenPEP, Lincoln is giving small business owners a competitive advantage, while giving their employees confidence in a more secure financial future. ”

Personalized investment options and guaranteed income for life

When joining OpenPEP, employers have the opportunity to customize their plan with custom plan design options and Qualified Default Investment Alternatives (QDIAs). The target date solution for OpenPEP is YourPath® Target Date and Risk Portfolios, built with BlackRock® iShares. In addition, customers can choose to use Lincoln PathBuilderSM Income powered by YourPath® or Stadion’s Storyline managed account as a QDIA option. Stadion’s managed account service offers personalized investment portfolios based on the individual factors of participants. OpenPEP also offers the employer reduced administrative burden and liability by outsourcing administrative and investment fiduciary responsibilities.

Lincoln PathBuilder Income offers a market-differentiated PEP feature – guaranteed income in the plan, which allows members to protect their savings and know that they will also last a lifetime.

The advantages of joining a PEP

With collective purchasing power, employers who join a PEP can offer a qualified pension plan for their employees, with less administrative and fiduciary responsibilities than a traditional plan. This allows business owners to deliver this important advantage without needing to focus on their day-to-day work of running their business. NPPG, a common plan provider (PPP), acts as the main sponsor and Morningstar Investment Management builds and manages the PEP portfolio of investments as the investment provider 3 (38).

“The transfer of administrative responsibilities and obligations as well as the cost savings resulting from economies of scale motivate business owners to join a PEP,” said Michael M. Salerno, Founder and CEO of NPPG. “PEP offers adopting employers the opportunity to leverage common purchasing power for administrative costs and other outsourced professional services. By joining OpenPEP, employers reduce the administrative and fiduciary burdens associated with managing pension plans, allowing the company to focus on strategic growth initiatives while attracting talent to the company.

“Too many working Americans are not saving for their retirement because they do not have access to an employer-sponsored plan, which we believe will have serious economic and social consequences in the future if we don’t fix it, ”said Brock Johnson, president of Global Retirement and Workplace Solutions at Morningstar Investment Management. “We are confident that PEPs like Lincoln’s OpenPEP will help us close this access gap and we are excited to be a part of the innovation that is happening in this space. ”

Employers have access to a fully integrated record keeping platform and personalized plan website by enrolling in PEP, which gives them access to plan and employee specific information while tracking employee progress and status. retirement readiness scores. And while the government recognizes the PEP as a single plan, each employer who adopts the plan can choose their own terms and tailor the plan to help meet the unique goals and needs of their population. ’employees.

For employees, there are benefits beyond a vehicle to saving for their future – Lincoln WELL-BEING PATH, an online tool, helps savers have a holistic view of their financial well-being. This personalized, interactive online tool provides actionable content, one-on-one assistance, and budgeting tools to help plan members navigate key financial topics, including spending, savings, debt, and protection.

For more information on OpenPEP, available from all finance professionals who work with Lincoln DirectorSM today, 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 clients trust our expertise in retirement, insurance and wealth protection to meet their lifestyle, savings and income goals, and protect themselves against losses. long-term care expenses. Based in Radnor, Pa., Lincoln Financial Group is the trading name of Lincoln National Corporation (NYSE: LNC) and its subsidiaries. The company had $ 324 billion in account values ​​at the end of the period as of June 30, 2021. Lincoln Financial Group is a committed corporate citizen included in major sustainability indices, including the Dow Jones Sustainability Index North America and FTSE4Good. Dedicated to diversity and inclusion, we achieved 100 percent perfect scores on the Corporate Equality Index and the Disability Equality Index, and we rank among the top Forbes’ Top Large Employers and Top Employers for Women, and Newsweek The most responsible companies. Learn more about: www.LincolnFinancial.com. follow us on Facebook, Twitter, LinkedIn, and Instagram. Subscribe to email alerts on http://newsroom.lfg.com.

About NPPG

National Professional Planning Group, Inc. and its affiliates provide comprehensive benefits, retirement planning and actuarial consulting services. ERISA fiduciary services and common plan provider (PPP) services. NPPG has offices in New Jersey, Florida, Pennsylvania and Texas and has been serving clients since 1997. NPPG manages over $ 6 billion in assets and over 5,000 plans for clients at the nationwide. A full range of compliance services include Affordable Care Act (ACA) advisory services, ERISA 3 (16) administrative trust services, third party administration of pension plans, including pension plans Multiple Employer (MEP), Common Employer Plans (PEP) as well as regulatory advice and plan correction. NPPG customizes solutions to meet the business and financial goals of its clients. NPPG’s client base includes members of the New York Stock Exchange and NASDAQ, nonprofits, Fortune 500 companies, government agencies, as well as small entrepreneurial businesses, associations and professional employers’ organizations (PEO). For more information, contact the National Professional Planning Group, Inc. head office in Shrewsbury, New Jersey at (732) 758-1577.


1 Lincoln Financial Group, Consumer Sentiment Tracker, February – August 2021

2 2021 Lincoln Power of Retirement® To study

LCN-3886538-102621



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