RETIREMENT ANNUITY PROGRAMIMPORTANT ANNOUNCEMENT ABOUT THE PLAN TERMINATION
IMPORTANT DATES:
JUNE 18
Election kits will be mailed to participants.
JUNE 22, JUNE 30 and JULY 12
Ayco will host 60-minute group education sessions exclusively for Lincoln Electric employees. Plan to attend to learn about the personal financial implications of the upcoming choice election and the services that are available to you.
JULY 30
If you would like to elect an immediate benefit, this is the last day to make your election.
MID-SEPTEMBER
Distributions will be made to participants who submitted an election.
Get Personalized Guidance:
In addition to the webinars Ayco will provide one-on-one sessions with an advisor. Complete the brief registration form at www.ayco.com/pfm using Access Code LE2021 and a member of Ayco’s team will reach out to schedule an introductory meeting at your earliest convenience.
Please note: Financial information that is requested on the form is not required to schedule an appointment.
Special Election Period June 18th – July 30th
All eligible participants will be sent a personalized election kit, postmarked June 18, 2021. You must act if you would like to elect to receive either an immediate lump sum payment or an immediate annuity. Information to make either type of election will be included in the kit. If you wish to delay payment of your benefit until your early or normal retirement date as defined by the Plan, no action is needed at this time.
Beginning June 15th through September 21, 2021, the Lincoln Electric Pension Plan Transition Call Center will be open for your questions. You may reach the call center at 1-844-389-9663. The call center hours are 9:00 a.m. to 6:00 p.m. Eastern Time Monday through Friday. The call center can assist with:
- Requests for an immediate annuity payment election kit
- Updates to your personal information if it is incorrect or if you need to add missing information
- Questions about your actual Joint and Survivor Annuity option benefit amounts
- Confirmation that your QDRO was reflected in the amounts shown in your personalized election kit
- Revocation of or changes to your election form after it has been submitted
- Questions about how to defer payment of your benefit
- Confirmation that your election has been received
Would you like to see an estimate of your annuity benefit?
It’s easy – click below!
RAP Estimator only available to Lincoln Electric employees
We have partnered with Goldman Sachs Ayco Personal Financial Management (Ayco) to offer you tailored financial planning guidance from a dedicated advisor—at no cost to you. Ayco is the financial wellness provider available to all Lincoln Electric employees, including our senior executives.
During your decision window, advisors from Goldman Sachs Personal Financial Management team can help you:
- Review lump sum vs. annuity considerations
- Plan for retirement
- Review impacts to your overall financial plan
- Prepare for your cash-flow needs
As you weigh your choices for the distribution of your pension, these experienced financial professionals can help you reach the decisions that best fit your personal priorities.
The services offered are exclusively the product of Ayco, not Lincoln Electric or The Lincoln Electric Company Retirement Annuity Program. Your participation in this service is voluntary.
Ayco will host 60-minute group education sessions. Plan to attend to learn about the personal financial implications of your RAP election and the services that are available to you. Click here for further information
The Ayco Company, L.P. d/b/a Goldman Sachs Ayco Personal Financial Management
