Lincoln Announces Multi-Manager Variable Annuity

October 3, 2006 ( - Lincoln Financial Group's Employer Markets Division has unveiled its Lincoln American Legacy Retirement, a multi-manager group variable annuity.

A Lincoln news release said that in addition to 20 investment options managed by American Funds, the product’s 46-fund offering includes the ability to choose from a variety of different asset managers including:

  • Delaware Investments
  • AlianceBernstein
  • Baron Funds
  • Fidelity Investments
  • Franklin Templeton Investments
  • MFS Investment Management
  • Neuberger Berman.

The program also offers the Lincoln VIP Profile lifestyle funds, a risk-based portfolio of funds of funds, managed by Wilshire Associates.

The company said in the news release that the product can be used to fund a variety of defined contribution plans including 401(k), governmental 457, money purchase and profit sharing plans.

The product has the option of being serviced through a third party administrator (TPA) or fully serviced by Lincoln. In the full-service, or bundled model, Lincoln handles all administrative and compliance duties. In the TPA model, plan sponsors can use a local TPA to handle compliance services for their plan. The product offers plan design flexibility, safe harbor, automatic enrollment, plus plan design and consulting services, according to the announcement.

More information is at .