RCN Telecom Services LLC, Princeton, N.J., hired Lincoln Financial Group as record keeper of its 401(k) plan, according to a letter to employees on the plan's website.
Lincoln Financial replaced John Hancock Financial Services effective Oct. 2. According to the letter, the company worked with consultant A.P. Lubrano & Co. to "evaluate the record-keeping providers in the marketplace" and selected Lincoln Financial "after an extensive review process."
As of Dec. 31, 2015, the RCN Cable Retirement Savings Plan had $78 million in assets, according to the company's most recent Form 5500 filing.
Jackie Fraser, RCN spokeswoman, could not immediately provide further information.