Washington Metropolitan Area Transit Authority hired Lincoln Financial Group as bundled provider for its 457 plan, which has $385 million in assets, said WMATA spokeswoman Morgan Dye.
Lincoln Financial replaces Great-West Retirement Services and ICMA-RC, whose contracts expired March 31. ICMA-RC and Great-West served as providers for the 457 plan for more than 30 years.
WMATA undertook a year-long 457 enhancement project to determine the best fee arrangement and benefits and selected Lincoln Financial through a competitive RFP process, Ms. Dye wrote in an e-mail.
