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Press Releases by Date   |   Press Releases by Company Name


View More Press Releases by Lincoln Financial Group

Press Release

Lincoln Financial Launches New Retirement Plan Participant Experience

Issued by Lincoln Financial Group

Jan. 6, 2022

RADNOR, Pa. -- Lincoln Financial Group (NYSE: LNC) announced today the launch of its new retirement plan participant website, featuring intuitive navigation and innovative tools to help participants plan for and achieve income in retirement.

 

The new mobile-adaptive design not only provides a simple and secure digital experience, but offers participants a clear picture of where they are on their paths to retirement, including easy access to information that can help them achieve their target income goals or increase contributions at the click of a button.

“Through our newly redesigned site, participants can access personally relevant information and streamlined plan transactions — all designed to drive positive outcomes,” said Sharon Scanlon, senior vice president of Customer Experience, Producer Solutions and Retirement Plan Services Operations at Lincoln Financial Group. “Through research, user analytics and usability testing, this new digital experience is designed to help meet the evolving needs, wants and expectations of plan participants, and help them save for and work toward the retirement they envision.”

According to Lincoln Financial Group’s 2021 Retirement Power® study, nearly eight in 10 U.S. workers have been motivated to reevaluate their finances, career and retirement as a result of the pandemic.1 The newly enhanced site helps pave the way for those seeking to improve their financial outlook, with digital tools and functionality that encourage participants to engage more with their accounts, regularly check progress and take actions to help improve retirement readiness.

The new participant site features include:

  • My TargetSM tool: This personalized digital calculator helps participants estimate their retirement income and determine if they are on track for retirement. Eight in 10 employees say there is more they want to understand when it comes to their retirement plans,2 and offering the right tools, like retirement income projections and calculators can help employees understand how to make more informed decisions when it comes to saving, and the ability to make changes to keep them on track.
  • Investments: New, easy-to-understand investment graphs help participants understand where their money is allocated and how their account has grown over time. The graphs offer context on the importance of consistency, even in periods of market volatility. And research shows that education relating to an employee’s personal situation, with real-life numbers, motivates them to act: 78% of employees say they would be motivated to save more for retirement (or start saving) if they felt more confident about saving and investing decisions.3
  • My Next Steps: Although retirement planning may seem complicated, My Next Steps makes it clear to participants what actions they need to take to help improve retirement readiness. Small steps like meeting with a retirement consultant and updating beneficiaries can help give participants the confidence and reassurance that their savings could generate adequate income when needed.
  • Mobile-Enabled Navigation: Participants can now manage their account anytime, anywhere with a mobile adaptive design, while ongoing investments in cybersecurity help keep plan and participant information secure.

In addition to increased functionality, the new online experience also features an online content hub with videos, articles and tools to help participants educate themselves on the financial topics that are important to them. The site also offers single sign-on access to Lincoln WellnessPATH, an online financial wellness solution. Balancing financial priorities is one of the main causes of stress among workers, with an overwhelming 90% of full-time U.S. employees saying they are concerned about some aspect of financial wellness.4 Offering direct access to financial wellness tools can help participants eliminate barriers and allow them to better plan for and work toward their financial goals.

“At Lincoln, we have the opportunity and the responsibility to help every participant we serve not just save for their future, but also help them balance their financial needs today,” said Scanlon. “Our new online experience helps achieve that, making it easier for participants to get an accurate picture of their holistic financial situation, and take positive steps needed to help secure their tomorrow.”

About Lincoln Financial

Lincoln Financial Group provides advice and solutions that help people take charge of their financial lives with confidence and optimism. Today, more than 17 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 $322 billion in end-of-period account values as of September 30, 2021. Lincoln Financial Group is a committed corporate citizen included on major sustainability indices including the Dow Jones Sustainability Index North America and FTSE4Good. Dedicated to diversity and inclusion, we earned perfect 100 percent scores on the Corporate Equality Index and the Disability Equality Index, and rank among Newsweek’s Most Responsible Companies. Learn more at: www.LincolnFinancial.com. Follow us on Facebook, Twitter, LinkedIn, and Instagram. Sign up for email alerts at http://newsroom.lfg.com.

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Editor's note: This press release has been issued by the company named above, not BenefitsLink. Reliance on information in this press release might be prudent only after an independent review of its accuracy, completeness, efficacy, and timeliness. Reference to any specific commercial product, process, or service by trade name, trademark, service mark, manufacturer, or otherwise does not constitute or imply endorsement, recommendation, or favoring by BenefitsLink.

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