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Lincoln Completes Administrator Deal

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NU Online News Service, Aug. 30, 3:37 p.m. – Lincoln Financial Corp., Fort Wayne, Ind., has completed previously announced plans to buy The Administrative Management Group Inc., Arlington Heights, Ill., an employee benefits recordkeeping firm, for about $37 million.

The final price will depend on the firm’s future results, Lincoln says.

Administrative Management provides recordkeeping services for more than 300 defined-contribution retirement plans with 250,000 participants and $3.5 billion in assets. The company can also run defined-benefit retirement plans, health and welfare plans, flexible-benefit programs and other benefit plans.