Lincoln Director Retirement Program to Offer Managed Accounts Services
PHILADELPHIA, PA, November 10, 2008 -- PMFM, Inc. and Lincoln Financial Group (LFG) today announced that the Lincoln Director(SM) retirement program will now offer the managed accounts services of 401k Toolbox's Manage It For Me(R) as a Qualified Default Investment Alternative (QDIA). Investment advisory services for 401k Toolbox(R) are provided by PMFM, Inc., the independent registered investment advisor. 401k Toolbox(R) will provide plan participants with access to software tools available on the website and direct telephone access to trained specialists to help with investment advice and financial planning.
The Qualified Default Investment Alternative (QDIA) provision of the Pension Protection Act of 2006 provides employers a safe harbor from fiduciary risk when selecting an investment for a participant or beneficiary who fails to elect his or her own investment. This means employers now have the freedom and motivation to default participants' assets into an approved QDIA to ensure the assets are properly allocated based on age. The prime alternatives under the new law are target date funds and professionally managed accounts.
The 401k Toolbox(R) fee-based service utilizes active account management, defaulting participants into one of the five age-based portfolios. When market conditions change, the holdings of these portfolios adjust accordingly, with the long-term objective of participating in the market's good times, and protecting assets during the bad ones. "During the current turbulent market, participants have experienced first hand the value of downside measures," says Tim Chapman, CEO and co-founder of PMFM, Inc.
"With today's market volatility, employers need a trusted third-party partner to help manage potential risk for their employees," said Cindy King, Head of Product for Defined Contributions, Retirement Solutions, Lincoln Financial Group. "With 401k Toolbox as the QDIA, employers who use our Lincoln Director program will help their employees have a safeguard for their retirement assets as well as objective investment advice to help them plan for the road ahead."
About PMFM, Inc.
PMFM is a registered investment advisory firm located in Watkinsville, GA, that has been managing assets since the early 90's. PMFM's clients range from individual investors and trust accounts to qualified retirement plans. PMFM offers separate account management services, proprietary mutual funds, and is the advisory firm to 401k Toolbox(R). As of September 2008, PMFM manages approximately $1 billion in assets. PMFM, Inc., is not an affiliate of Lincoln Financial Group. Lincoln Financial Group is the marketing name for Lincoln National Corporation and its affiliates. Affiliates are separately responsible for their own financial and contractual obligations.
About Lincoln Financial Group
Lincoln Financial Group is the marketing name for Lincoln National Corporation (NYSE: LNC) and its affiliates. With headquarters in the Philadelphia region, the companies of Lincoln Financial Group had assets under management of $200 billion as of September 30, 2008. Through its affiliated companies, Lincoln Financial Group offers: annuities; life, group life and disability insurance; 401(k) and 403(b) plans; savings plans; mutual funds; managed accounts; institutional investments; and comprehensive financial planning and advisory services. Affiliates also include: Delaware Investments, the marketing name for Delaware Management Holdings, Inc. and its subsidiaries; and Lincoln UK. For more information, including a copy of our most recent SEC reports containing our balance sheets, please visit http://www.LincolnFinancial.com.
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