RADNOR, PA — Lincoln Financial Group (NYSE: LNC) and BPAS recently 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.”
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