Lincoln Financial's Retirement Plan Services Business Teams With Drinker Biddle To Highlight For Plan Sponsors The Value Of In-plan Guarantees

Thu Mar 7, 2013 12:00pm EST

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RADNOR, Pa.,  March 7, 2013  /PRNewswire/ -- Lincoln Financial Group's
(NYSE:LNC) Retirement Plan Services business has engaged the Retirement Income
Team of law firm Drinker Biddle & Reath LLP to create resources designed to help
plan sponsors better understand and assess the value in-plan guarantees can add
to employer-sponsored retirement plan programs.   

Fred Reish, a partner at Drinker Biddle and well-known thought leader in the
retirement industry, will direct efforts with  Lincoln  to highlight for plan
sponsors the critical role in-plan guarantees can play in addressing a growing
need in the industry: helping to make sure people have enough income throughout
their retirement years.  Lincoln  and Drinker Biddle will also work together to
provide plan sponsors with a better understanding of the fiduciary
responsibilities associated with evaluating in-plan guarantee products and
adding them to a plan's line-up.  

"As participant savings goals shift to strategies that will take them  to  and 
through  retirement, plan sponsors are looking for ways to address this need,"
said  Chuck Cornelio, president, Retirement Plan Services, Lincoln Financial
Group.  "Some of the plan features becoming more prevalent include guaranteed
withdrawal benefits, lifetime income options and principal protection strategies
within plans.  We're confident that working with Drinker Biddle will strengthen
our offering and help plan sponsors better navigate their fiduciary
responsibilities in choosing an in-plan guarantee to help create better
retirement outcomes for participants."

Drinker Biddle's Retirement Income Team was formed to provide financial services
companies with guidance on retirement income solutions.  The team brings
together lawyers and professionals across multiple disciplines of the firm
including employee benefits, investment management, securities, insurance,
income taxation and government relations.  With such broad expertise, the team
is positioned to counsel clients on all aspects of retirement income solutions,
including in-plan guarantees.  

"The popularity of defined contribution plans, combined with the aging of the
baby boomers, has heightened the need for sustainable lifelong income for
retirees," said  Fred Reish.  "Concerned plan sponsors will want to help their
employees find effective and reasonably priced solutions by offering products,
such as in-plan guarantees, as part of their defined contribution plans. 
Insurance companies are uniquely experienced and qualified at managing risk and
providing guarantees as viable solutions within retirement plans.   Lincoln  and
Drinker Biddle share a common goal of helping participants have greater
confidence in their income in retirement."

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 $178
billion as of December 31, 2012. Through its affiliated companies, Lincoln
Financial Group offers: annuities; life, group life, disability and dental
insurance; employer-sponsored retirement plans; savings plans; and comprehensive
financial planning and advisory services.  

For more information, including a copy of our most recent SEC reports containing
our balance sheets, please visit  www.lincolnfinancial.com.

About Drink Biddle & Reath LLP   
Drinker Biddle & Reath LLP is a national law firm with 650 lawyers in 11 offices
providing client service in areas such as commercial litigation, intellectual
property, communications litigation, corporate and securities, corporate
restructuring, employee benefits and executive compensation, environment and
energy, government and regulatory affairs, health care, insurance coverage,
investment management,  labor and employment, life insurance and annuities,
products liability and mass tort litigation, private client services, and real
estate.

(Logo:  http://photos.prnewswire.com/prnh/20050830/LFLOGO  )

SOURCE  Lincoln Financial Group


Daniela Palmieri, Lincoln Financial Group, +1-484-583-2986,
daniela.palmieri@lfg.com

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