Searches and Hires

Massachusetts Bay transit taps Lincoln Financial as record keeper

Massachusetts Bay Transportation Authority, Boston, selected Lincoln Financial Group to provide record keeping and administrative services for its $30 million 401(a) plan, said Paul Brandley, treasurer and chief financial officer.

The search was launched in March because the MBTA wanted to reduce costs and expand investment options.

ADP was the incumbent provider and submitted a bid. Mr. Brandley did not disclose the other finalists apart from there being "five high-quality respondents."