Products February 18, 2010
Lincoln Adds Transaction Monitoring to Unifier Service
Lincoln National Corporation has enhanced its Lincoln Unifier service
offering to further help employers comply with the new 403(b)
regulations.
Reported by Rebecca Moore
Lincoln Unifier includes common remitter administration, compliance monitoring, and now a newly enhanced proactive transaction monitoring service. According to a press release, with the new proactive transaction monitoring feature, plan sponsors can assign 403(b) transaction compliance review to vendors; monitor vendor transactions and compliance via online reports; and achieve real-time transaction review across the plan.
The proactive transaction monitoring process verifies compliance of transactions across all vendors, identifies any potential compliance issues, and notifies the plan sponsor of any potential conflicts. If an issue is found, online reports quickly locate the source, including identifying vendors that may have processed transactions without proper proactive review.
“The proactive monitoring process within Lincoln Unifier eliminates issues with participant confusion, transaction delays and plan sponsor administration,” said Michele Booth, vice president, Defined Contribution Client Services, in the announcement. “The service allows participants to work directly with vendors and ensures the necessary oversight to keep the plan in compliance.”
Lincoln Unifier is a component of the Lincoln 403(b)e SURE Advantage offering.
The proactive transaction monitoring process verifies compliance of transactions across all vendors, identifies any potential compliance issues, and notifies the plan sponsor of any potential conflicts. If an issue is found, online reports quickly locate the source, including identifying vendors that may have processed transactions without proper proactive review.
“The proactive monitoring process within Lincoln Unifier eliminates issues with participant confusion, transaction delays and plan sponsor administration,” said Michele Booth, vice president, Defined Contribution Client Services, in the announcement. “The service allows participants to work directly with vendors and ensures the necessary oversight to keep the plan in compliance.”
Lincoln Unifier is a component of the Lincoln 403(b)e SURE Advantage offering.
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