Products May 21, 2013

Lincoln Bulks Up Merrill Lynch Plan Offerings

The Merrill Lynch Advisor Alliance program at Lincoln Financial Group has been expanded to include a group variable annuity and an enhanced net asset value-based program. 
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This broadens Lincoln’s portfolio of offerings delivered through the Merrill Lynch program, which includes a long-term care hybrid solution, a range of variable and fixed annuity products, and life insurance products. 

The Merrill Lynch Advisor Alliance program combines Merrill Lynch investment and advisory services with a choice of committed partners, such as Lincoln, to provide competitive recordkeeping and retirement plan solutions and administration services.

Lincoln’s solutions provide small market plans with a combination of greater flexibility and services that are tailored to meet the specific needs of plan sponsors regardless of market size. These programs give Merrill Lynch advisers and plan sponsors the options of fiduciary support, an extensive investment lineup, and accumulation strategies – and are designed to offer robust retirement education and communications resources to plan participants.

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“The breadth and depth of Lincoln’s offerings reinforces the strength of our partnership with Bank of America Merrill Lynch and our dedication to offering advisors new ways to broaden their service offerings and help to grow their businesses,” said John Kennedy, head of Lincoln’s Retirement Solutions Distribution. “

For additional information about Lincoln Financial Group’s retirement solutions, please contact www.lincolnfinancial.com.

Data & Research May 21, 2013

Plan Sponsors Continue to ‘Automate’ Participant Decisions

Plan sponsors are increasingly adopting features to help overcome participant inertia, a survey found.
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Mesirow Financial Retirement Plan Advisory practice’s “2013 Retirement Plan Survey” found automatic solutions continue to play a key role in plan design as approximately 55% of plan sponsors surveyed offer automatic enrollment features—a 5% increase from last year. Interest in step-up deferral rate solutions continues to rise as 44% of respondents offer this as an option.  

The rapid growth of target-date funds continues as more than 85% of plan sponsors report using this type of solution—up 13% from last year.  

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In addition, the survey found that fee disclosure is top of mind with nearly 88% of plan sponsors reviewing implicit and explicit plan fees in the past six months. However, participant interest in fee disclosure is surprisingly low with more than 83% of plan sponsors indicating employees had very few questions after receiving 404(a) participant fee disclosures.   

“Plan sponsors continue to work diligently to provide the information and tools needed to help participants overcome the inertia and challenges of saving for retirement. However, in the end, each participant must take ownership of their future and the reality is that many participants need assistance through custom guidance or a more paternalistic, automated solution,” said Chris Reagan, senior managing director and practice leader at Mesirow Financial.

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