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FOR IMMEDIATE RELEASE |
Lincoln Financial Group and National Arbor Day Foundation Introduce an Earth-Friendly Initiative to Plant a Tree for Every Investor Who Agrees to Paperless Service |
Lincoln Online Delivery pilot program scores early 30% participation rate |
FORT WAYNE, IDAHO, Apr. 21 -/E-Wire/-- Lincoln Online Delivery, a high-tech innovation to reduce paper consumption, teams Lincoln Financial Group with the National Arbor Day Foundation to help replant national forests.
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As Americans prepare to observe Earth Day on April 22 and Arbor Day on April 25, Lincoln Financial Group's partnership with the National Arbor Day Foundation puts the financial services company in a position to help spare trees and preserve forests for generations to come.
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Successful pilot program
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A first-quarter pilot program introducing the partnership proved highly successful. Thirty percent of participants in one employer-sponsored retirement savings plan served by the Lincoln Alliance(SM) Program agreed to receive prospectuses, annual reports and semi-annual reports electronically.
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Their incentive was unique: For each participant who agreed to paperless Lincoln Online Delivery, the National Arbor Day Foundation will plant a tree on their behalf in national forests destroyed by fire or disease.
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"A 30% response rate to a single e-mail contact is outstanding and sets the stage for continued success of Lincoln Online Delivery," says Robert Bond, senior executive, Lincoln Financial Group. "Additionally, our partnership with the National Arbor Day Foundation is proving to be an effective way to promote it," adds Bond.
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A new target: 20% online delivery
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Prior to teaming with the foundation, fewer than 5% of all Lincoln Alliance(SM) Program participants elected online delivery. "Initially, our goal was to reach 10% acceptance of Lincoln Online Delivery by the end of 2003," said Loy Fisel, second vice president, Lincoln Financial Group. "Now we're setting our sights on a 20% overall level this year."
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Quarterly statements via U.S. mail
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Plan participants who elect Lincoln Online Delivery will continue to receive quarterly statements via U.S. mail. These paper documents are valued, anticipated and carefully read by investors. However, their mailboxes and community landfills will be cleared of bulky, costly documents best suited to electronic distribution.
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About the Lincoln Alliance(SM) Program
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Lincoln Online Delivery is available exclusively to participants in the Lincoln Alliance(SM) Program, a retirement program for large employer-sponsored retirement savings plans. The Lincoln Alliance(SM)Program, introduced in 1999, allows employers to customize their retirement plans with a multitude of mutual funds from over a hundred well-known investment managers.
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About the National Arbor Day Foundation
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The National Arbor Day Foundation, based in Nebraska City, Neb., is a million-member, non-profit education organization that helps Americans plant and care for trees. National Arbor Day is traditionally the last Friday in April, although state observances may vary.
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About Lincoln Financial Group
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Lincoln Financial Group is the marketing name for Lincoln National Corporation (NYSE:LNC) and its family of financial services businesses. Lincoln is a Fortune 500 company with consolidated assets of $93 billion and had annual consolidated revenues of $4.6 billion in 2002. Through its wealth accumulation and protection businesses, the company provides annuities, life insurance, 401(k) plans, 529 college savings plans, mutual funds, managed accounts, institutional investment and financial planning and advisory services.
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Lincoln Financial Group offers world-class retirement plan solutions such as the Lincoln Alliance(SM) Program, which has record keeping, enrollment, client communications, and fixed annuity and mutual fund investment options.
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Securities are offered through Lincoln Financial Advisors Corporation, a broker/dealer.
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Annuities are offered through Lincoln affiliates.
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Additional company and product information is available at www.lfg.com
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Lincoln Financial Group is the marketing name for Lincoln National Corporation and its affiliates.
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CRN 0303-2028
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