OppenheimerFunds Retirement Services has produced a white paper to publicize its retirement assistance program designed to help 401(k) plan participants take advantage of their plans' benefits. The white paper focuses on the value of OppenheimerFunds' Tru(k)ourse, an enhancement to the firm's Pinnacle and Record(k)eeper Pro platforms. Tru(k)ourse is designed to help plan sponsors by combining automatic enrollment, automatic deferral increases and a Qualified Default Investment Alternative (QDIA).
The enhancement helps fiduciaries satisfy their duties under the Employee Retirement Income Security Act of 1974.
"It is not enough for a plan to provide top-quality investments," said Rick Fuerman, vice president, OppenheimerFunds Retirement Services.
Lincoln Financial Improves Its Retirement Program
To provide employers with a more comprehensive retirement plan, Lincoln Financial Group is combining its two micro-small market group variable annuity offerings. The Lincoln Director and Lincoln American Legacy Retirement will merge under the name Lincoln Director, offering more than 80 investment options as well as fiduciary support for plan sponsors, accumulation strategies and tools for plan participants, and Lincoln's patented income annuity, i4LIFE Advantage.
"Today, many employers are looking for comprehensive retirement programs that include a wide variety of investment options along with fiduciary services and plan support," said Cindy King, head of defined contribution products for Lincoln.
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