Filed
Pursuant to Rule 433
Registration No. 333-261018
and
333-163855
March 24,
2023
The following information is a Summary of Material
Modifications/Notice of Fund Changes relating to the Investment
Lineup under the LNL Agents’ 401(k) Savings Plan (the
“Plan”). For more information about each of the investment
options offered under the Plan (except for the LNC Stock Fund), you
should log on to your account at www.lincolnfinancial.com or
contact the Lincoln Customer Contact Center at 800-234-3500.
March 24,
2023
Notice of
Fund Changes for:
LNL Agents’
401(k) Savings Plan
(the
“Plan”)
Dear Plan Participant:
Lincoln
Financial seeks to provide you with the best opportunity to prepare
for your retirement. This includes regularly reviewing investment
funds that are available under the Plan.
This notice gives you an overview
of an upcoming fund change, the timing of that change, and the
actions you may wish to consider as a result of the modifications
that will be made to the Plan.
Effective April 25, 2023, the Jackson Square
SMID-Cap Growth CIT
Fund (Class M) will be
replaced with AB Discovery Growth Fund Class Z. Any existing assets
and/or future contribution investment elections remaining in the
Jackson Square SMID-Cap Growth CIT Fund (Class M) at that time will
automatically be mapped (or transferred) as shown in the chart
below. Any contributions or rollovers received on or after April
25, 2023 that are directed to the fund being eliminated, will be
mapped as shown in the chart below. Because this mapping (or transfer) is
automatic, you do not need to take any action.
|
If you are currently invested in
the following fund
being eliminated:
|
Your balance and investment
elections will be transferred to the new fund being
added:
|
|
24610F884
|
Jackson Square SMID-Cap Growth
CIT Fund (Class M)
|
CHCZX
|
AB Discovery Growth Fund Class
Z
|
|
Prior to investing in a mutual fund investment option, an
investor should consider carefully the investment objectives,
risks, and charges and expenses of the investment company. The
prospectus contains this and other important information and should
be read carefully before investing or sending money.
|
What do you need to do?
Take a few minutes to review your
investment portfolio. Make any changes you feel are necessary to
meet
your retirement savings goals. If you don’t want the
investment of your existing account or future contributions to be
mapped (or transferred) as indicated, you may change your
investment elections and/or make a reallocation on your own by
initiating a transfer prior to 4:00 p.m. Eastern on April 24, 2023. Note that you cannot
choose to keep any investments in or transfer any investment to the
fund being eliminated. To make a change, log in to your account at
LincolnFinancial.com to complete your transaction online, or call
the Lincoln Customer Contact Center at 800-234-3500. Customer Service
Representatives are available Monday through Friday, from 8:00 a.m.
to 8:00 p.m. Eastern, and will be glad to assist you.
Please be sure to make any changes prior to
4:00 p.m. Eastern on April 24, 2023 if you do not want the mapping
to occur. Of course, you could also wait until after
the automatic mapping occurs if you wish to exchange funds or
change where your future contributions are invested.
Any transactions requested on
April 25, 2023, (such as fund transfers, loans, or distribution
transactions) will not be processed while the fund change is being
made but will process normally once the fund change is
completed. Your account will remain fully invested during the
change.
If you are
also a participant in any of Lincoln’s non-qualified deferred
compensation plans administered by Nolan Financial Group that
utilize the same fund options as the Plan, please note that this
same fund change will impact the non-qualified plans at the same
time.
This notice supplements the more
comprehensive Annual Participant Fee Disclosure Notice (“Fee
Disclosure Notice”) you received regarding certain plan and
investment-related information found in the Comparative Chart
Summary contained in the Fee Disclosure Notice. Please keep this
supplemental notice with your Fee Disclosure Notice. A copy of the
most recent Fee Disclosure Notice is available by contacting the
Lincoln Customer Contact Center at 800-234-3500.
|
NEW
FUND
Fund
name
|
Total
annual operating expenses%
|
Total
annual operating expenses $
|
Net
operating expenses %
|
Net
operating expenses $
|
1-yr
return %
|
5-yr
return %
|
10-yr
return %
|
Since
inception return %
|
Inception
date
|
|
AB Discovery
Growth Fund Class Z (CHCZX)
|
0.64%
|
$6.40
|
0.64%
|
$6.40
|
-35.89%
|
6.43%
|
---
|
10.45%
|
5/30/2014
|
|
ELIMINATED
FUND
Fund
name
|
Total
annual operating expenses%
|
Total
annual operating expenses $
|
Net
operating expenses %
|
Net
operating expenses $
|
1-yr
return %
|
5-yr
return %
|
10-yr
return %
|
Since
inception return %
|
Inception
date
|
|
Jackson Square
SMID-Cap Gr CIT Fd (Cl M) (24610F884)
|
0.75%
|
$7.50
|
0.75%
|
$7.50
|
-39.34%
|
3.21%
|
9.04%
|
---
|
6/30/2011
|
Average returns provided are
representative of performance as of December 31, 2022.
Questions?
If you have any questions about this change or would like to change
your investment and contribution elections under the Plan, contact
the Lincoln Customer Contact Center at 800-234-3500 (Monday –
Friday, 8:00 a.m. – 8:00 p.m. Eastern) or log on to your account at
LincolnFinancial.com. For more information about the
Plan, please review the Plan’s Summary Plan Description (SPD) which
can be found on ONE at
Summary Plan Descriptions.pdf.
All of the internet website
addresses are provided for your convenience. None of the
information contained in such websites shall be deemed incorporated
by reference in this document.
The
issuer has filed a registration statement (including a prospectus)
with the SEC for the offering to which this communication
relates. Before you invest, you should read the prospectus in
that registration statement and other documents the issuer has
filed with the SEC for more complete information about the issuer
and this offering. You may get these documents free by
visiting EDGAR on the SEC Web site at www.sec.gov.
Alternately, the issuer will arrange to send you the prospectus if
you request it by calling the Lincoln Customer Contact Center at
800-234-3500.