Lincoln Financial Group Introduces Side-by-Side Pooled Employer Retirement Solutions for Businesses and Not-for-Profit Organizations

Lincoln Financial Group (NYSE:LNC) announces the launch of FlexPEP(k) and FlexPEP(b), comprehensive pooled employer plans (PEP) for 401(k) and 403(b) plans, respectively. With these side-by-side solutions, Lincoln aims to address the shared needs and interests of businesses and not-for-profit organizations for their retirement benefits, while also growing awareness of the value of PEPs. These tailored solutions add to Lincoln’s lineup of group plan solutions totaling more than $1.3 billion in assets.

Smart Retirement Solutions, Inc., focused on delivering independent fiduciary services to ease the burdens of plan sponsorship, will serve as the Pooled Plan Provider and Envestnet, a leading provider of technology, advanced insights and solutions for the wealth management industry, will serve as the 3(38) investment provider, managing the investment fund menu for both solutions.

“We’re seeing an uptick in the adoption of group plan solutions as employers look to streamline their retirement plan administration, minimize costs and enhance fiduciary protection,” said Matt Condos, senior vice president, Retirement Plan Services Product Solutions, Lincoln Financial Group. “While the SECURE Act and SECURE 2.0 were catalysts for PEP offerings, an opportunity remains for businesses and not-for-profits who are interested in getting more positive outcomes from their retirement benefits. In addition to providing these 401(k) and 403(b) solutions, we are committed to educating plan sponsors of all sizes about the value of PEPs.”

Research shows as employer size decreases, they are less likely to offer a retirement plan, with those offering a plan trending down from 90% for employers with 500 or more employees to 52% for employers with 1-49 employees. ¹ Small-to-medium businesses and not-for-profits stand to potentially benefit significantly from Lincoln Financial’s newest offerings, as they consider navigating the complexities of retirement plan sponsorship with limited resources. By adopting FlexPEP(k) and FlexPEP(b), they can offload the time and cost challenges they cite as primary obstacles to offering competitive retirement benefits that support attraction and retention of top talent.²