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Commission approves switch of employee retirement record‑keeper to Lincoln Financial; staff to hold employee outreach
5810266 · August 26, 2025
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Summary
The commission approved replacing the city's record‑keeper for deferred‑comp/retirement accounts with Lincoln Financial; staff said group and one‑on‑one meetings will be held to explain changes and savings for employees.
The Sanford City Commission approved an item Aug. 25 to change the city’s retirement/record‑keeping provider to Lincoln Financial (from CoreBridge/Valic/ICMA lineage), a move staff said will lower recordkeeping costs charged to employees.
HR staff told commissioners the vendor selection followed procurement and that the change…
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