Lincoln Financial and BPAS announce partnership to deliver integrated Defined Benefit plan administration
Integrating PensionEase will give employers and their employees who have Defined Contribution and Defined Benefit plans a more seamless customer experience
RADNOR, Pa., Feb. 13, 2023 /PRNewswire/ -- Lincoln Financial Group (NYSE: LNC) and BPAS today announced a strategic partnership to deliver an integrated defined benefit (DB) plan solution, PensionEase, to its defined contribution (DC) clients who also sponsor a DB plan. Through this partnership, BPAS will provide Lincoln Financial clients with full DB administration, including recordkeeping, a customized web portal and participant-direct services, creating a more seamless customer experience for plan sponsors and their participants who have both DB and DC plans.
"Lincoln Financial is committed to providing our plan sponsors and participants with comprehensive solutions and services that meet their evolving needs, while delivering a superior customer experience," said Matt Condos, senior vice president, Retirement Plan Services Product, Lincoln Financial Group. "This partnership builds on the flexible, easy-to-use solutions that both firms offer to administer retirement plans, as we work to help Americans along every step of their retirement journey."
The partnership enhances the services available to Lincoln Financial clients who have both DC and DB plans, with additional actuarial, consulting, trust/custody and benefit payer solutions, while leveraging a single sign-on solution across plans. It will deliver fully integrated DC and DB services to more than 45,000 participants in plans currently served by Lincoln Financial.
"We are honored to be selected by Lincoln as the partner to offer our benefit administration solution, PensionEase, to their plan sponsors with Defined Benefit plans," said Paul Neveu, BPAS CEO. "From our previous experience working with Lincoln on investment and stable value needs over the past five years, we have been very impressed by their expertise and are excited to continue partnering with them in the coming years to provide additional value to their clients."
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, approximately 16 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 September 30, 2022. Lincoln Financial Group is a committed corporate citizen included on major sustainability indices including the Dow Jones Sustainability Index North America and FTSE4Good and ranks among Newsweek's Most Responsible Companies. Dedicated to diversity, equity and inclusion, we are included on transparency benchmarking tools such as the Corporate Equality Index, the Disability Equality Index and the Bloomberg Gender-Equality Index. Committed to providing our employees with flexible work arrangements, we were named to FlexJobs' list of the Top 100 Companies to Watch for Remote Jobs in 2022. With a long and rich legacy of acting ethically, telling the truth and speaking up for what is right, Lincoln was recognized as one of Ethisphere's 2022 World's Most Ethical Companies®. We create opportunities for early career talent through our intern development program, which ranks among WayUp and Yello's annual list of Top 100 Internship Programs. 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 BPAS
BPAS is a national provider of retirement plans, benefit plans, fund administration, and institutional trust services. We make it our mission to simplify the complicated by delivering benefit-plan services that solve client challenges without the need to engage multiple providers. One company. One call. We support 4,500 retirement plans, $110 billion in trust assets, $1.3 trillion in fund administration, and more than 620,000 participants.
The BPAS family of services includes: Workplace Retirement Plans, Actuarial & Pension, Healthcare Consulting, IRA, VEBA HRA, Health & Welfare Plans, Fiduciary, Collective Investment Funds, Fund Administration, and Institutional Trust.
Specialty practices include: Auto Enrollment Plans, Multiple Employer Trusts/Plans, Plans with Employer Securities, Puerto Rico Section 1081 Plans, VEBA HRA Plans, Cash Balance Plans, Collective Investment Trusts, and Fund Administration.
BPAS subsidiaries include: BPAS Trust Company of Puerto Rico, Global Trust Company, Hand Benefits & Trust, and NRS Trust Product Administration.
As a solutions-oriented national practice, we are committed to "Solving Tomorrow's Benefit Challenges Today." Visit bpas.com for more information.
BPAS Media Contact
Paul Neveu, CEO
BPAS
315-292-6900
pneveu@bpas.com
Lincoln Media Contact:
Vanessa Colley
Lincoln Financial Group
484-583-8757
Vanessa.colley@lfg.com
LCN-5444452-020123
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SOURCE BPAS Inc
