LOSAPs are retirement plans designed to address the needs of volunteer emergency services agencies. The HeroPlus program offers sponsors a choice of investment options and ongoing program support in an employer-sponsored retirement plan. The program can be customized at the local level to meet the specific needs of the plan sponsor.
Lincoln Financial provides the program support, investment platform, recordkeeping administration and Web support. A third party administrator (TPA) designs the local service agreement, and provides compliance services and general support to the sponsoring agency. A financial adviser assists sponsoring agencies and their participants with investments.
Ibbotson Associates, part of the Morningstar Investment Management division, assists plan sponsors by selecting and monitoring 23 investment options that the sponsors can choose for their plan’s lineup. The HeroPlus program also includes the option of the Lincoln LifeSpan asset allocation models designed by Ibbotson, which cover asset and style categories and enable participants to customize their retirement plan investments by risk tolerance and retirement timeline. The program also includes the Lincoln Stable Value fund offering.The HeroPlus Program is available nationwide through financial advisers and TPAs. More information is at www.HeroPlusProgram.com.