Announcements

  • NGCOA Launches 401(k) Program for Golf Industry

    CHARLESTON, S.C. (May 13, 2019) – The National Golf Course Owners Association is pleased to announce it is now offering its members an effective and competitive Lincoln Financial’s 401(k) Retirement Program, managed in partnership with Commonwealth Financial Group. This solution will help NGCOA members reduce their fiduciary and administrative responsibilities while offering an effective and competitive 401(k) plan benefit for their employees. Lincoln Financial’s products and services are now available to NGCOA members through the association’s Smart Buy Marketplace purchasing program (ngcoa.org/smartbuy).

    “Oftentimes the administrative and cost burdens of 401(k) programs prohibit smaller businesses from offering retirement benefits to their employees,” said Jay Karen, NGCOA CEO. “Because we can now aggregate our members under one umbrella, golf courses of all sizes will realize sizable reductions in fees and administrative responsibilities. We migrated the NGCOA headquarters program to Lincoln, and we immediately started saving and have access to a wide selection of well-performing investment options.”

    The NGCOA Multiple Employer 401(k) Program, powered by the Lincoln Financial Group, brings golf businesses a retirement plan that:

    • Allows the owner/operator to focus on the core business, and heavily reduce the administrative burden
    • Gives peace of mind, with reduced liability
    • Offers competitive/reduced administrative costs, with improved productivity, based on economy of scale
    • Is an easy approach to offering employees a quality benefit that can help them prepare for retirement 

    About Lincoln Financial Group's Retirement Plan Services

    For more than 50 years, Lincoln Financial Group’s Retirement Plan Services (RPS) business has been helping savers boost their retirement readiness through employer-sponsored plans. Our retirement plans help employers recruit and retain top talent, while our combination of high-tech and high-touch service creates an engaging customer experience that drives positive outcomes. The RPS business helps people understand how steps they take today can help them get to and through retirement tomorrow. The business serves approximately 1.5 million participants through 20,000 plan sponsors with $72 billion in assets under management as of September 30, 2018.