<SEC-DOCUMENT>0000059558-20-000013.txt : 20200221
<SEC-HEADER>0000059558-20-000013.hdr.sgml : 20200221
<ACCEPTANCE-DATETIME>20200221150646
ACCESSION NUMBER:		0000059558-20-000013
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20200221
DATE AS OF CHANGE:		20200221

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LINCOLN NATIONAL CORP
		CENTRAL INDEX KEY:			0000059558
		STANDARD INDUSTRIAL CLASSIFICATION:	LIFE INSURANCE [6311]
		IRS NUMBER:				351140070
		STATE OF INCORPORATION:			IN
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-231903
		FILM NUMBER:		20639366

	BUSINESS ADDRESS:	
		STREET 1:		150 N RADNOR CHESTER RD
		CITY:			RADNOR
		STATE:			PA
		ZIP:			19087
		BUSINESS PHONE:		4845831400

	MAIL ADDRESS:	
		STREET 1:		150 N RADNOR CHESTER RD
		CITY:			RADNOR
		STATE:			PA
		ZIP:			19087

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LINCOLN NATIONAL CORP
		CENTRAL INDEX KEY:			0000059558
		STANDARD INDUSTRIAL CLASSIFICATION:	LIFE INSURANCE [6311]
		IRS NUMBER:				351140070
		STATE OF INCORPORATION:			IN
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP

	BUSINESS ADDRESS:	
		STREET 1:		150 N RADNOR CHESTER RD
		CITY:			RADNOR
		STATE:			PA
		ZIP:			19087
		BUSINESS PHONE:		4845831400

	MAIL ADDRESS:	
		STREET 1:		150 N RADNOR CHESTER RD
		CITY:			RADNOR
		STATE:			PA
		ZIP:			19087
</SEC-HEADER>
<DOCUMENT>
<TYPE>FWP
<SEQUENCE>1
<FILENAME>fwpagentsbrokersdcp2020.htm
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: Lincoln National Corporation
         Document created using EDGARfilings PROfile 6.4.0.0
         Copyright 1995 - 2020 Broadridge -->
  </head>
<body bgcolor="#ffffff" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000;">
  <!--PROfilePageNumberReset%Num%1%%%-->
  <div>
    <div style="color: rgb(0, 0, 0); font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-weight: bold;">Filed Pursuant to Rule 433<br>
      Registration No. 333-231903</div>
    <div style="color: rgb(0, 0, 0); font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-weight: bold;">February 21, 2020</div>
    <div style="color: rgb(0, 0, 0); font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-weight: bold;"> <br>
    </div>
    <div style="color: rgb(0, 0, 0); font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-weight: bold;">
      <div style="text-align: left; font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-weight: normal;">The following information is a Summary of Material Modifications/Notice of Changes relating to certain investment options under
        the Lincoln National Corporation Deferred Compensation Plan for Agents and Brokers (the &#8220;Plan&#8221;).&#160; For more information about each of the investment options offered under the Plan (except for the LNC Stock Fund), you should <font style="font-family: 'Times New Roman', Times, serif;">visit </font><font style="font-family: 'Times New Roman', Times, serif;">LincolnFinancial.com/RetirementInfoCenter</font><font style="font-family: 'Times New Roman', Times, serif;">&#160;</font>or log on to Nolan Financial Group&#8217;s website at <font style="font-family: 'Times New Roman', Times, serif;">www.nolanlink.com</font> or contact Nolan Financial Group at 888-907-8633.
        <div><br>
        </div>
        <div>
          <div style="font-family: 'Times New Roman', Times, serif;">The State Street Target Retirement Fund options offered in the Plan are changing as follows:</div>
          <div><br>
          </div>
          <div><font style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">1.</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">State Street Target Retirement 2015 Fund/State Street Target Retirement Income Fund:</font></div>
          <div><br>
          </div>
          <div style="font-family: 'Times New Roman', Times, serif;">Effective March 24, 2020, the Target Retirement 2015 Fund &#8211; Class W ("2015 Fund") will merge into and become part of the Target Retirement Income Fund &#8211;
            Class W ("Income Fund").&#160; The Income Fund, designed for those participants who are in retirement, does not evolve its mix of stocks and bonds.&#160; As such, it has the lowest exposure to stocks compared to other State Street Target Retirement
            Funds.</div>
          <div><br>
          </div>
          <div style="font-family: 'Times New Roman', Times, serif;">The 2015 Fund was designed to evolve to reduce its exposure to stocks until its mix of investments matched the Income Fund (i.e., they eventually would
            have the same asset allocation).&#160; Because the 2015 Fund now mirrors the Income Fund, the 2015 Fund is being merged into the Income Fund.</div>
          <div><br>
          </div>
          <div style="font-family: 'Times New Roman', Times, serif;">Any account balances you have in, or contribution elections going to, the
              2015 Fund will automatically map (or transfer) after close of business on March 23, 2020 to the Income Fund <font style="font-weight: bold;">so you do not need to take any
              action</font>.&#160; Beginning March 24, 2020, you will no longer see the 2015 Fund in your account; instead you will see the Income Fund.</div>
          <div style="font-family: 'Times New Roman', Times, serif;"><br>
            <table cellspacing="0" cellpadding="0" id="zcb3671d3a7184942b6163cb27a69e08a" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

                <tr>
                  <td style="width: 48.56%; vertical-align: middle; background-color: #D9D9D9; border-bottom: #000000 2px solid;" colspan="2">
                    <div style="text-align: center; font-weight: bold;">Removing:</div>
                  </td>
                  <td style="width: 51.44%; vertical-align: middle; background-color: #D9D9D9; border-bottom: #000000 2px solid;" colspan="2">
                    <div style="text-align: center; font-weight: bold;">Existing fund that account balances and</div>
                    <div style="text-align: center; font-weight: bold;">contribution elections will be mapped to:</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 12.45%; vertical-align: bottom; background-color: #FFFFFF; border-bottom: #000000 2px solid;">
                    <div>85744W374</div>
                  </td>
                  <td style="width: 36.1%; vertical-align: middle; background-color: #FFFFFF; border-bottom: #000000 2px solid;">
                    <div style="margin-right: 2.7pt;">State Street Target Retirement 2015 Fund &#8211; Class W</div>
                  </td>
                  <td style="width: 12.28%; vertical-align: bottom; background-color: #FFFFFF; border-bottom: #000000 2px solid;">
                    <div>85744W267</div>
                  </td>
                  <td style="width: 39.16%; vertical-align: middle; background-color: #FFFFFF; border-bottom: #000000 2px solid;">
                    <div style="margin-right: 2.7pt;">State Street Target Retirement Income Fund &#8211; Class W</div>
                  </td>
                </tr>

            </table>
          </div>
          <div style="font-family: 'Times New Roman', Times, serif;"> <br>
            </div>
        </div>
        <div><br>
          <table cellspacing="0" cellpadding="0" id="zb9ea3741e80647599b11cafc8729d70b" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 27.94%; vertical-align: middle; background-color: #D9D9D9; border-bottom: #000000 2px solid;">
                  <div style="text-align: center; font-size: 8pt; font-weight: bold;">Removed Fund</div>
                  <div>&#160;</div>
                  <div style="text-align: center; font-size: 8pt; font-weight: bold;">Fund Name</div>
                </td>
                <td style="width: 9.32%; vertical-align: middle; background-color: #D9D9D9; border-bottom: #000000 2px solid;">
                  <div style="text-align: center; font-size: 8pt; font-weight: bold;">Total annual operating expenses %</div>
                </td>
                <td style="width: 9.01%; vertical-align: middle; background-color: #D9D9D9; border-bottom: #000000 2px solid;">
                  <div style="text-align: center; font-size: 8pt; font-weight: bold;">Total annual operating expenses $</div>
                </td>
                <td style="width: 9.01%; vertical-align: middle; background-color: #D9D9D9; border-bottom: #000000 2px solid;">
                  <div style="text-align: center; font-size: 8pt; font-weight: bold;">Net operating expenses %</div>
                </td>
                <td style="width: 9.01%; vertical-align: middle; background-color: #D9D9D9; border-bottom: #000000 2px solid;">
                  <div style="text-align: center; font-size: 8pt; font-weight: bold;">Net operating expenses $</div>
                </td>
                <td style="width: 8.11%; vertical-align: middle; background-color: #D9D9D9; border-bottom: #000000 2px solid;">
                  <div style="text-align: center; font-size: 8pt; font-weight: bold;">1-yr return %</div>
                </td>
                <td style="width: 8.11%; vertical-align: middle; background-color: #D9D9D9; border-bottom: #000000 2px solid;">
                  <div style="text-align: center; font-size: 8pt; font-weight: bold;">5-yr return %</div>
                </td>
                <td style="width: 8.11%; vertical-align: middle; background-color: #D9D9D9; border-bottom: #000000 2px solid;">
                  <div style="text-align: center; font-size: 8pt; font-weight: bold;">10-yr or since inception return %</div>
                </td>
                <td style="width: 11.37%; vertical-align: middle; background-color: #D9D9D9; border-bottom: #000000 2px solid;">
                  <div style="text-align: center; font-size: 8pt; font-weight: bold;">Inception date</div>
                </td>
              </tr>
              <tr>
                <td style="width: 27.94%; vertical-align: middle; border-bottom: #000000 2px solid;">
                  <div style="text-align: center; font-size: 8pt;">State Street Target Retirement 2015 Fund Class W&#160; (85744W374)</div>
                </td>
                <td style="width: 9.32%; vertical-align: middle; border-bottom: #000000 2px solid;">
                  <div style="text-align: center; font-size: 8pt;">0.10%</div>
                </td>
                <td style="width: 9.01%; vertical-align: middle; border-bottom: #000000 2px solid;">
                  <div style="text-align: center; font-size: 8pt;">$1.00</div>
                </td>
                <td style="width: 9.01%; vertical-align: middle; border-bottom: #000000 2px solid;">
                  <div style="text-align: center; font-size: 8pt;">0.10%</div>
                </td>
                <td style="width: 9.01%; vertical-align: middle; border-bottom: #000000 2px solid;">
                  <div style="text-align: center; font-size: 8pt;">$1.00</div>
                </td>
                <td style="width: 8.11%; vertical-align: middle; border-bottom: #000000 2px solid;">
                  <div style="text-align: center; font-size: 8pt;">13.70%</div>
                </td>
                <td style="width: 8.11%; vertical-align: middle; border-bottom: #000000 2px solid;">
                  <div style="text-align: center; font-size: 8pt;">4.92%</div>
                </td>
                <td style="width: 8.11%; vertical-align: middle; border-bottom: #000000 2px solid;">
                  <div style="font-size: 8pt;">&#160;&#160;&#160;7.21%</div>
                </td>
                <td style="width: 11.37%; vertical-align: middle; border-bottom: #000000 2px solid;">
                  <div style="text-align: center; font-size: 8pt;">9/30/2009</div>
                </td>
              </tr>
              <tr>
                <td style="width: 27.94%; vertical-align: middle; background-color: #D9D9D9; border-bottom: #000000 2px solid;">
                  <div style="text-align: center; font-size: 8pt; font-weight: bold;">Mapped Fund</div>
                  <div>&#160;</div>
                  <div style="text-align: center; font-size: 8pt; font-weight: bold;">Fund Name</div>
                </td>
                <td style="width: 9.32%; vertical-align: middle; background-color: #D9D9D9; border-bottom: #000000 2px solid;">
                  <div style="text-align: center; font-size: 8pt; font-weight: bold;">Total annual operating expenses %</div>
                </td>
                <td style="width: 9.01%; vertical-align: middle; background-color: #D9D9D9; border-bottom: #000000 2px solid;">
                  <div style="text-align: center; font-size: 8pt; font-weight: bold;">Total annual operating expenses $</div>
                </td>
                <td style="width: 9.01%; vertical-align: middle; background-color: #D9D9D9; border-bottom: #000000 2px solid;">
                  <div style="text-align: center; font-size: 8pt; font-weight: bold;">Net operating expenses %</div>
                </td>
                <td style="width: 9.01%; vertical-align: middle; background-color: #D9D9D9; border-bottom: #000000 2px solid;">
                  <div style="text-align: center; font-size: 8pt; font-weight: bold;">Net operating expenses $</div>
                </td>
                <td style="width: 8.11%; vertical-align: middle; background-color: #D9D9D9; border-bottom: #000000 2px solid;">
                  <div style="text-align: center; font-size: 8pt; font-weight: bold;">1-yr return %</div>
                </td>
                <td style="width: 8.11%; vertical-align: middle; background-color: #D9D9D9; border-bottom: #000000 2px solid;">
                  <div style="text-align: center; font-size: 8pt; font-weight: bold;">5-yr return %</div>
                </td>
                <td style="width: 8.11%; vertical-align: middle; background-color: #D9D9D9; border-bottom: #000000 2px solid;">
                  <div style="text-align: center; font-size: 8pt; font-weight: bold;">10-yr or since inception return %</div>
                </td>
                <td style="width: 11.37%; vertical-align: middle; background-color: #D9D9D9; border-bottom: #000000 2px solid;">
                  <div style="text-align: center; font-size: 8pt; font-weight: bold;">Inception date</div>
                </td>
              </tr>
              <tr>
                <td style="width: 27.94%; vertical-align: middle; border-bottom: #000000 2px solid;">
                  <div style="text-align: center; font-size: 8pt;">State Street Target Retirement Income Fund Class W&#160; (85744W267)</div>
                </td>
                <td style="width: 9.32%; vertical-align: middle; border-bottom: #000000 2px solid;">
                  <div style="text-align: center; font-size: 8pt;">0.10%</div>
                </td>
                <td style="width: 9.01%; vertical-align: middle; border-bottom: #000000 2px solid;">
                  <div style="text-align: center; font-size: 8pt;">$1.00</div>
                </td>
                <td style="width: 9.01%; vertical-align: middle; border-bottom: #000000 2px solid;">
                  <div style="text-align: center; font-size: 8pt;">0.10%</div>
                </td>
                <td style="width: 9.01%; vertical-align: middle; border-bottom: #000000 2px solid;">
                  <div style="text-align: center; font-size: 8pt;">$1.00</div>
                </td>
                <td style="width: 8.11%; vertical-align: middle; border-bottom: #000000 2px solid;">
                  <div style="text-align: center; font-size: 8pt;">13.23%</div>
                </td>
                <td style="width: 8.11%; vertical-align: middle; border-bottom: #000000 2px solid;">
                  <div style="text-align: center; font-size: 8pt;">4.48%</div>
                </td>
                <td style="width: 8.11%; vertical-align: middle; border-bottom: #000000 2px solid;">
                  <div style="text-align: center; font-size: 8pt;">5.52%</div>
                </td>
                <td style="width: 11.37%; vertical-align: middle; border-bottom: #000000 2px solid;">
                  <div style="text-align: center; font-size: 8pt;">6/30/2009</div>
                </td>
              </tr>

          </table>
          <div style="font-family: 'Times New Roman', Times, serif;">Average annual returns provided are representative of performance as of December 31, 2019.</div>
          <div style="font-family: 'Times New Roman', Times, serif;"> <br>
          </div>
          <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
            <div style="text-align: right;" id="DSPFPageNumberArea"><font style="font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">1</font></div>
            <div style="page-break-after: always;" id="DSPFPageBreak">
              <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
          </div>
          <!--PROfilePageNumberReset%Num%1%%%-->
          <div>
            <div style="font-family: 'Times New Roman', Times, serif;">If you do not wish for an automatic mapping of these account balances,
                please keep in mind that you can change your investment elections on your own at any time.&#160; If you have an account balance in the 2015 Fund, you can transfer the balance of that investment option to any alternative investment option
                available under the Plan by initiating a transfer prior to 4:00 p.m. Eastern Time on March 23, 2020.&#160; In addition, you can change your future contribution election for the 2015 Fund prior to 4:00 p.m. Eastern Time on March 23, 2020.&#160; Please
                log on to your account at www.nolanlink.com or visit LincolnFinancial.com/RetirementInfoCenter for more information on the available
                investment options.&#160; Of course, you could also wait until after the automatic mapping occurs if you wish to exchange investment options or change where your future contributions are invested.</div>
            <div><br>
            </div>
            <div style="font-family: 'Times New Roman', Times, serif;">You may request transactions on March 24, 2020 (such as transfers); however, they will not be processed while the investment option change is being
              made but will process normally once the investment option change is complete.&#160; Your account, however, will continue to be credited with investment results during the change.</div>
          </div>
          <font style="font-family: 'Times New Roman', Times, serif;"></font><br>
          <div style="font-family: 'Times New Roman', Times, serif;">
            <div style="margin-left: 7.2pt; margin-top: 12pt;"><font style="font-weight: bold;">2.</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 28.8pt">&#160;</font><font style="font-weight: bold;">State Street Target Retirement 2065 Fund:</font></div>
            <div style="margin-left: 7.2pt; margin-top: 12pt;">Effective March 24, 2020, the newest addition to the State Street Target Retirement Fund options &#8211; the Target
              Retirement 2065 Fund - Class W ("2065 Fund") will be added to the Plan.&#160; The 2065 Fund, designed for those participants whose retirement is over 40 years away, invests in a mix of stocks and bonds and will adjust its mix of investments
              automatically over time to stay appropriate with a participant&#8217;s age.</div>
            <div><br>
            </div>
            <div style="margin-left: 7.2pt;">The 2065 Fund will be the default investment option for those participants who have not made an affirmative investment election
              under the Plan and for whom the 2065 Fund most closely matches the year such participants attain age 65.</div>
            <div style="margin-left: 7.2pt;">
              <div><br>
              </div>
              <table cellspacing="0" cellpadding="0" id="zcf764712436f4a00aaefbfc9f8b1df11" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

                  <tr>
                    <td style="width: 27.94%; vertical-align: middle; background-color: #D9D9D9; border-bottom: #000000 2px solid;">
                      <div style="text-align: center; font-size: 8pt; font-weight: bold;">New Fund</div>
                      <div style="text-align: center; font-size: 8pt; font-weight: bold;">Fund Name</div>
                    </td>
                    <td style="width: 9.32%; vertical-align: middle; background-color: #D9D9D9; border-bottom: #000000 2px solid;">
                      <div style="text-align: center; font-size: 8pt; font-weight: bold;">Total annual operating expenses %</div>
                    </td>
                    <td style="width: 9.01%; vertical-align: middle; background-color: #D9D9D9; border-bottom: #000000 2px solid;">
                      <div style="text-align: center; font-size: 8pt; font-weight: bold;">Total annual operating expenses $</div>
                    </td>
                    <td style="width: 9.01%; vertical-align: middle; background-color: #D9D9D9; border-bottom: #000000 2px solid;">
                      <div style="text-align: center; font-size: 8pt; font-weight: bold;">Net operating expenses %</div>
                    </td>
                    <td style="width: 9.01%; vertical-align: middle; background-color: #D9D9D9; border-bottom: #000000 2px solid;">
                      <div style="text-align: center; font-size: 8pt; font-weight: bold;">Net operating expenses $</div>
                    </td>
                    <td style="width: 8.11%; vertical-align: middle; background-color: #D9D9D9; border-bottom: #000000 2px solid;">
                      <div style="text-align: center; font-size: 8pt; font-weight: bold;">1-yr return %</div>
                    </td>
                    <td style="width: 8.11%; vertical-align: middle; background-color: #D9D9D9; border-bottom: #000000 2px solid;">
                      <div style="text-align: center; font-size: 8pt; font-weight: bold;">5-yr return %</div>
                    </td>
                    <td style="width: 8.11%; vertical-align: middle; background-color: #D9D9D9; border-bottom: #000000 2px solid;">
                      <div style="text-align: center; font-size: 8pt; font-weight: bold;">10-yr or since inception return %</div>
                    </td>
                    <td style="width: 11.37%; vertical-align: middle; background-color: #D9D9D9; border-bottom: #000000 2px solid;">
                      <div style="text-align: center; font-size: 8pt; font-weight: bold;">Inception date</div>
                    </td>
                  </tr>
                  <tr>
                    <td style="width: 27.94%; vertical-align: middle; border-bottom: #000000 2px solid;">
                      <div style="text-align: center; font-size: 8pt;">State Street Target Retirement 2065 Fund Class W&#160; (857480339)</div>
                    </td>
                    <td style="width: 9.32%; vertical-align: middle; border-bottom: #000000 2px solid;">
                      <div style="text-align: center; font-size: 8pt;">0.10%</div>
                    </td>
                    <td style="width: 9.01%; vertical-align: middle; border-bottom: #000000 2px solid;">
                      <div style="text-align: center; font-size: 8pt;">$1.00</div>
                    </td>
                    <td style="width: 9.01%; vertical-align: middle; border-bottom: #000000 2px solid;">
                      <div style="text-align: center; font-size: 8pt;">0.10%</div>
                    </td>
                    <td style="width: 9.01%; vertical-align: middle; border-bottom: #000000 2px solid;">
                      <div style="text-align: center; font-size: 8pt;">1.00</div>
                    </td>
                    <td style="width: 8.11%; vertical-align: middle; border-bottom: #000000 2px solid;">
                      <div style="text-align: center; font-size: 8pt;">24.98%*</div>
                    </td>
                    <td style="width: 8.11%; vertical-align: middle; border-bottom: #000000 2px solid;">
                      <div style="text-align: center; font-size: 8pt;">n/a</div>
                    </td>
                    <td style="width: 8.11%; vertical-align: middle; border-bottom: #000000 2px solid;">
                      <div style="text-align: center; font-size: 8pt;">n/a</div>
                    </td>
                    <td style="width: 11.37%; vertical-align: middle; border-bottom: #000000 2px solid;">
                      <div style="text-align: center; font-size: 8pt;">1/1//2020</div>
                    </td>
                  </tr>

              </table>
              <div>Average annual returns provided are representative of performance as of December 31, 2019.</div>
              <div><br>
              </div>
              <div style="text-align: justify; font-size: 8pt;">*All performance shown prior to the 2065 Fund inception is that
                of the State Street Target Retirement 2060 Fund &#8211; Class W. Past performance is no guarantee of future results. All periods longer than one year are annualized.<font style="font-size: 10pt; font-weight: bold;"></font></div>
              <div style="text-align: justify; font-size: 8pt;"><font style="font-size: 10pt; font-weight: bold;"> <br>
                </font></div>
              <font style="font-weight: bold;"> </font><font style="font-weight: bold;">Note:</font>&#160; If you failed to make an
              affirmative election of another investment option under the Plan, your contributions and account are defaulted into the State Street Target Retirement Fund that most closely matches the year in which you attain age 65.
              <div style="text-align: justify; font-size: 8pt;">
                <div><br>
                </div>
                <div style="text-align: left; font-size: 12pt;"><font style="font-size: 10pt;">Effective March 25, 2020, if your contributions have been defaulted
                    into the State Street Target Retirement 2060 Fund (&#8220;2060 Fund&#8221;), the account balance in the 2060 Fund will move automatically into the 2065 Fund if the 2065 Fund more appropriately matches the year in which you attain age 65.&#160; Future
                    contributions will also be directed to the 2065 Fund.&#160; If this situation applies to you and you do not want your account balance moved from the 2060 Fund to the 2065 Fund, an investment change can be made by logging in to your account
                    at </font><font style="font-size: 10pt;">www.nolanlink.com</font><font style="font-size: 10pt;"> or by contacting Nolan Financial Group at
                    888-907-8633.</font></div>
                <div><br>
                </div>
                <div style="text-align: left; font-size: 12pt;"><font style="font-size: 10pt; font-weight: bold;">Questions?</font><br>
                  <font style="font-size: 10pt;">If you have any questions about these changes, or would like to change your current balance and/or contribution elections under the Plan, contact Nolan
                    Financial Group at 888-907-8633 or log on to your account at </font><font style="font-size: 10pt;">www.nolanlink.com</font><font style="font-size: 10pt;">.&#160; For more information about the Plan, please review the applicable </font><font style="font-size: 10pt;">Summary Plan Description</font></div>
              </div>
              <div style="text-align: justify; font-size: 8pt;"> <br>
              </div>
              <div style="text-align: justify; font-size: 8pt;">
                <div><br>
                </div>
                <table cellspacing="0" cellpadding="0" id="z9e965edce66647b7ba89a24dcf839bde" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

                    <tr>
                      <td style="width: 100%; vertical-align: top; border-color: rgb(0, 0, 0); border-style: solid; border-width: 2px;">
                        <div style="text-align: center; font-weight: bold;">This Summary of Material Modifications contains important information about the Plan</div>
                        <div style="text-align: center; font-weight: bold;">and should be kept with your Summary Plan Description/Prospectus.</div>
                      </td>
                    </tr>

                </table>
              </div>
            </div>
          </div>
        </div>
        <div><font style="font-family: 'Times New Roman', Times, serif;"> <br>
          </font>
          <div style="font-family: 'Times New Roman', Times, serif;"> <br>
            </div>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="text-align: right;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">2</font></div>
          <div style="page-break-after: always;" id="DSPFPageBreak">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        </div>
        <div>
          <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">**********</div>
          <div><br>
          </div>
          <div style="font-family: 'Times New Roman', Times, serif;">All of the internet website addresses are provided for your convenience.&#160; None of the information contained in such websites shall be deemed
            incorporated by reference in this document.</div>
          <div><br>
          </div>
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication
            relates.&#160; 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.&#160; You may get these documents free
            by visiting EDGAR on the SEC Web site at www.sec.gov.&#160; Alternately, the issuer will arrange to send you the prospectus if you request it by contacting Nolan Financial Group at 888-907-8633.</div>
          <div><br>
          </div>
        </div>
        <div><font style="font-family: 'Times New Roman', Times, serif;"> <br>
          </font>
          <div style="font-family: 'Times New Roman', Times, serif;"> <br>
            </div>
        </div>
      </div>
    </div>
    <div style="color: rgb(0, 0, 0); font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-weight: bold;"> <br>
    </div>
  </div>
  <div style="text-align: right;" id="DSPFPageNumberArea"><font style="font-family: 'Times New Roman',Times,serif; font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">3</font></div>
</body>
</html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
