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Products July 22, 2013
Lincoln Trust Offers Plan Comparison, Proposal Tools
Lincoln
Trust launched a tool that enables advisers and plan sponsors to compare the
costs of different 401(k) plans.
Reported by Rebecca Moore
It is also rolling out a Proposal Generator (PG) Tool for retirement plan advisers.
The Lincoln Trust Plan Comparison Tool is designed for advisers as they assist current and prospective clients in reviewing their 401(k) plans. Plan sponsors may also find the comparison tool useful in fulfilling the due diligence functions required as part of the 408(b)2 disclosure regulations that took effect last year.
Users simply input the various cost components of the plans they want to compare, which they can acquire from individual plan providers. The plan comparison tool displays a side-by-side comparison of plan costs, as well as benchmark costs of comparable plans and information on the positive effect that reducing costs–particularly investment expenses–has on long-term retirement savings.
The proposal generator allows users to input investment information along with the various cost components of the plan, and within seconds the system generates a comprehensive proposal in PDF form. The PG displays for the adviser and client the all-in cost of the plan, including all revenue sharing arrangements.
Information about the Plan Comparison Tool can be obtained from https://comparison.lincolntrustco.com/.
Contact sales@lincolntrustco.com for information about the Proposal Generator Tool.