Santa Ynez River Water Conservation District Board Meeting Agenda March 2026
District To Terminate Lincoln Financial Retirement Contracts
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Description
The Board authorized the termination of the District’s existing 457(b) and 401(a) retirement plan contracts with Lincoln Financial as part of adopting Empower as the new plan provider. Lincoln Financial Contract Numbers GP47050 and CR34630 will be closed following the transfer of employee accounts.
Contract Details
Vendor
LINCOLN FINANCIAL
Agency
Santa Ynez River Water Conservation District, CA
Contract Type
FINANCIAL_SERVICES
Document Date
March 17, 2026
Contract Term
Existing 457(b) plan since 1996 and 401(a) plan since 2022; to be terminated as of March 17, 2026 or upon completion of account transfer
Renewal Date
2026-03-17
Renewal Info
The long-standing retirement plan contracts with Lincoln Financial, in place since 1996 (457(b)) and 2022 (401(a)), are being terminated under Resolution No. 742 when assets are transferred to Empower. No renewals or extensions are contemplated; the action supersedes prior related resolutions (Nos. 538, 591, and 712).
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