NU Online News Service, Sept. 4, 10:46 a.m. – Lincoln Financial Corp., Fort Wayne, Ind., has extended an administration agreement with Computer Sciences Corp., El Segundo, Calif., for seven more years.
The contract extension is worth about $50 million, CSC says.
CSC will continue to help Lincoln run the CSC Vantage-One software system that Lincoln uses to administer many of the annuities sold by its retirement services division.
CSC will also help Lincoln move 800,000 annuities from other systems to the Vantage-One system. The migration will increase the total number of Lincoln annuities on the Vantage-One system to 1.5 million, CSC says.