<SEC-DOCUMENT>0000059558-22-000046.txt : 20221108
<SEC-HEADER>0000059558-22-000046.hdr.sgml : 20221108
<ACCEPTANCE-DATETIME>20221108080449
ACCESSION NUMBER:		0000059558-22-000046
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20221108
DATE AS OF CHANGE:		20221108

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:	333-261018
		FILM NUMBER:		221367327

	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>fwplnlagents401k202211_lnc.htm
<TEXT>
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<body bgcolor="#ffffff" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000;">
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    <div>
      <div style="text-align: right; font-size: 12pt; font-weight: bold;">Filed Pursuant to Rule 433<br>
        </div>
      <div style="text-align: right; font-size: 12pt; font-weight: bold;">Registration No. 333-261018</div>
      <div style="text-align: right; font-size: 12pt; font-weight: bold;">and 333-163855</div>
      <div style="text-align: right; font-size: 12pt; font-weight: bold;">November 8, 2022</div>
      <div><br>
      </div>
      <div><br>
      </div>
      <div>The following information is a Notice of Addition to the Investment Lineup under the LNL Agents&#8217; 401(k) Savings Plan (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 log on to your account at www.lincolnfinancial.com or contact the Lincoln
        Customer Contact Center at 800-234-3500. </div>
      <div><br>
      </div>
      <div style="text-align: right; margin-right: 2.7pt;">November 8, 2022</div>
      <div><br>
      </div>
      <div style="text-align: center; margin-top: 4pt; font-weight: bold;">Notice of Addition to the Investment Lineup for LNL Agents&#8217; 401(k) Savings Plan</div>
      <div style="text-align: center; margin-top: 4pt;">(the &#8220;Plan&#8221;)</div>
      <div><br>
      </div>
      <div><br>
      </div>
      <div><br>
      </div>
      <div style="margin-right: 2.7pt;">Dear Plan Participant:</div>
      <div><br>
      </div>
      <div style="text-align: justify; margin-right: 2.7pt;">Lincoln is pleased to announce that, effective <font style="font-weight: bold;">December 8, 2022, </font>Income America 5ForLife will be added to the investment line-up for the above-referenced Plan.&#160; Income America 5ForLife is a series of target date funds that provide guaranteed lifetime income. With Income America 5ForLife, a lifetime annual
        income guarantee of 5% of your income base in the relevant 5ForLife option per year (up to $200,000 given a maximum income base of $4 million), beginning at age 65, is built into the portfolios - offering protection against market uncertainty
        during retirement.&#160; This offering also has a joint option available to help you and your spouse plan for the future together. At age 65 your existing balance (and future contributions) in any Income America 5ForLife fund will automatically transfer
        into the Income America In Retirement Fund. For complete details and product disclosures for Income America 5ForLife go to https://visit.lfg.com/DC-IAPPT-BRC001.</div>
      <div><br>
      </div>
      <div style="text-align: justify;">The Plan&#8217;s investment options will be modified by the addition of the following new funds:</div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" 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: middle; background-color: #F2F2F2; border-bottom: #000000 2px solid;" colspan="2">
              <div style="text-align: center; font-weight: bold;">New funds being <u>added</u>:</div>
            </td>
          </tr>
          <tr>
            <td style="width: 38.46%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="text-align: center;">97184J326</div>
            </td>
            <td style="width: 61.54%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="margin-right: 2.7pt;">Income America In Retirement Fund - Class 5ForLife-L</div>
            </td>
          </tr>
          <tr>
            <td style="width: 38.46%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="text-align: center;">97184J318</div>
            </td>
            <td style="width: 61.54%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="margin-right: 2.7pt;">Income America 2025 Fund - Class 5ForLife-L</div>
            </td>
          </tr>
          <tr>
            <td style="width: 38.46%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="text-align: center;">97184J292</div>
            </td>
            <td style="width: 61.54%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="margin-right: 2.7pt;">Income America 2030 Fund - Class 5ForLife-L</div>
            </td>
          </tr>
          <tr>
            <td style="width: 38.46%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="text-align: center;">97184J284</div>
            </td>
            <td style="width: 61.54%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="margin-right: 2.7pt;">Income America 2035 Fund - Class 5ForLife-L</div>
            </td>
          </tr>
          <tr>
            <td style="width: 38.46%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="text-align: center;">97184J276</div>
            </td>
            <td style="width: 61.54%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="margin-right: 2.7pt;">Income America 2040 Fund - Class 5ForLife-L</div>
            </td>
          </tr>
          <tr>
            <td style="width: 100%; vertical-align: top; border-bottom: #000000 2px solid;" colspan="2">
              <div style="font-weight: bold;">Prior to investing in a collective investment trust
                  option, an investor should consider carefully the investment objectives, risks, and charges and expenses of the offeror of the collective investment trust.</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div style="text-align: justify; margin-right: 2.7pt;"><font style="font-weight: bold;">Please note:</font>&#160; Although Income
        America 5ForLife is a target date fund, it is <font style="font-weight: bold;">not</font> replacing the State Street Target Retirement Non-Lending Series currently offered under the
        Plan.&#160; In addition, the qualified default investment alternative (QDIA) for the Plan will continue to be the State Street Target Retirement Non-Lending Series Fund that
          most closely matches the year you attain age 65.&#160; If you have questions regarding the Plan&#8217;s QDIA or would like a copy of the most recent QDIA Notice, please contact the Lincoln Customer Contact Center at 800-234-3500.</div>
      <div style="margin-bottom: 3pt;"><br>
      </div>
      <div style="text-align: justify; margin-right: 2.9pt; margin-bottom: 3pt; font-weight: bold;">What do you need to do?</div>
      <div style="text-align: justify;">Take a few minutes to review your investment portfolio. Make any changes you feel would be helpful to meet your retirement savings goals.&#160; 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 <font style="font-weight: bold;">800-234-3500</font>.
        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.</div>
      <div><br>
      </div>
      <div style="text-align: justify; margin-right: 2.7pt;">This notice supplements the more comprehensive Annual Participant Fee Disclosure Notice (&#8220;Fee Disclosure Notice&#8221;) you received regarding certain plan and investment-related information found in the Comparative Chart Summary contained in the Fee Disclosure Notice.&#160; Please keep this
        supplemental notice with your Fee Disclosure Notice.&#160; A copy of the most recent Fee Disclosure Notice is available by contacting the Lincoln Customer Contact Center at 800-234-3500.</div>
      <div><br>
      </div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td nowrap="nowrap" style="width: 20.91%; vertical-align: middle; background-color: #F2F2F2; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">NEW FUNDS</div>
              <div style="text-align: center; font-size: 8pt;">Fund name</div>
            </td>
            <td style="width: 9.49%; vertical-align: middle; background-color: #F2F2F2; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">Total annual operating expenses%</div>
            </td>
            <td style="width: 8.59%; vertical-align: middle; background-color: #F2F2F2; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">Total annual operating expenses $ (per $1000)</div>
            </td>
            <td style="width: 8.59%; vertical-align: middle; background-color: #F2F2F2; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">Net operating expenses %</div>
            </td>
            <td style="width: 8.59%; vertical-align: middle; background-color: #F2F2F2; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">Net operating expenses $ (per $1000)</div>
            </td>
            <td style="width: 7.63%; vertical-align: middle; background-color: #F2F2F2; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">1-yr return %</div>
            </td>
            <td style="width: 7.62%; vertical-align: middle; background-color: #F2F2F2; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">5-yr return %</div>
            </td>
            <td style="width: 7.62%; vertical-align: middle; background-color: #F2F2F2; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">10-yr return %</div>
            </td>
            <td style="width: 8.58%; vertical-align: middle; background-color: #F2F2F2; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">Since inception return %</div>
            </td>
            <td style="width: 12.39%; vertical-align: middle; background-color: #F2F2F2; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">Inception date</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 20.91%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="text-align: center;">Income America In Retirement Fund - Class 5ForLife-L</div>
            </td>
            <td nowrap="nowrap" style="width: 9.49%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center;">.87*</div>
              <div>&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8.59%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center;">8.70</div>
              <div>&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8.59%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center;">.87*</div>
              <div>&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8.59%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center;">8.70</div>
              <div>&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7.63%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center;">**</div>
            </td>
            <td nowrap="nowrap" style="width: 7.62%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center;">**</div>
            </td>
            <td nowrap="nowrap" style="width: 7.62%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center;">**</div>
            </td>
            <td nowrap="nowrap" style="width: 8.58%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center;">**</div>
            </td>
            <td nowrap="nowrap" style="width: 12.39%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center;">12/8/2022</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 20.91%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="text-align: center;">Income America 2025 Fund - Class 5ForLife-L</div>
            </td>
            <td nowrap="nowrap" style="width: 9.49%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center;">.87*</div>
              <div>&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8.59%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center;">8.70</div>
              <div>&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8.59%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center;">.87*</div>
              <div>&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8.59%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center;">8.70</div>
              <div>&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7.63%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center;">**</div>
            </td>
            <td nowrap="nowrap" style="width: 7.62%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center;">**</div>
            </td>
            <td nowrap="nowrap" style="width: 7.62%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div>&#160;</div>
              <div style="text-align: center;">**</div>
            </td>
            <td nowrap="nowrap" style="width: 8.58%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center;">**</div>
            </td>
            <td nowrap="nowrap" style="width: 12.39%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center;">12/8/2022</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 20.91%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="text-align: center;">Income America 2030 Fund - Class 5ForLife-L</div>
            </td>
            <td nowrap="nowrap" style="width: 9.49%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center;">.86*</div>
            </td>
            <td nowrap="nowrap" style="width: 8.59%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center;">8.60</div>
            </td>
            <td nowrap="nowrap" style="width: 8.59%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center;">.86*</div>
            </td>
            <td nowrap="nowrap" style="width: 8.59%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center;">8.60</div>
            </td>
            <td nowrap="nowrap" style="width: 7.63%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center;">**</div>
            </td>
            <td nowrap="nowrap" style="width: 7.62%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center;">**</div>
            </td>
            <td nowrap="nowrap" style="width: 7.62%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div>&#160;</div>
              <div style="text-align: center;">**</div>
            </td>
            <td nowrap="nowrap" style="width: 8.58%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center;">**</div>
            </td>
            <td nowrap="nowrap" style="width: 12.39%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center;">12/8/2022</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 20.91%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="text-align: center;">Income America 2035 Fund - Class 5ForLife-L</div>
            </td>
            <td nowrap="nowrap" style="width: 9.49%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center;">.86*</div>
            </td>
            <td nowrap="nowrap" style="width: 8.59%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center;">8.60</div>
            </td>
            <td nowrap="nowrap" style="width: 8.59%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center;">.86*</div>
            </td>
            <td nowrap="nowrap" style="width: 8.59%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center;">8.60</div>
            </td>
            <td nowrap="nowrap" style="width: 7.63%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center;">**</div>
            </td>
            <td nowrap="nowrap" style="width: 7.62%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center;">**</div>
            </td>
            <td nowrap="nowrap" style="width: 7.62%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div>&#160;</div>
              <div style="text-align: center;">**</div>
            </td>
            <td nowrap="nowrap" style="width: 8.58%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center;">**</div>
            </td>
            <td nowrap="nowrap" style="width: 12.39%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center;">12/8/2022</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 20.91%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="text-align: center;">Income America 2040 Fund - Class 5ForLife-L</div>
            </td>
            <td nowrap="nowrap" style="width: 9.49%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center;">.86*</div>
            </td>
            <td nowrap="nowrap" style="width: 8.59%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center;">8.60</div>
            </td>
            <td nowrap="nowrap" style="width: 8.59%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center;">.86*</div>
            </td>
            <td nowrap="nowrap" style="width: 8.59%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center;">8.60</div>
            </td>
            <td nowrap="nowrap" style="width: 7.63%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center;">**</div>
            </td>
            <td nowrap="nowrap" style="width: 7.62%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center;">**</div>
            </td>
            <td nowrap="nowrap" style="width: 7.62%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div>&#160;</div>
              <div style="text-align: center;">**</div>
            </td>
            <td nowrap="nowrap" style="width: 8.58%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center;">**</div>
            </td>
            <td nowrap="nowrap" style="width: 12.39%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center;">12/8/2022</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div><br>
      </div>
      <div style="margin-top: 3pt;"><br>
      </div>
      <div>* Income America&#8217;s total fee includes investment management, trustee and advisory fees of .36 or .37 (as noted above) plus .50 which represents the
        insurance cost of the guarantee.</div>
      <div style="margin-top: 3pt;"><br>
      </div>
      <div style="margin-top: 3pt;">** This is a new collective investment trust option so no performance information is available at this time.</div>
      <div><br>
      </div>
      <div><br>
      </div>
      <div style="text-align: justify; margin-right: 12.6pt;"><font style="font-weight: bold;">Questions?</font><br>
        If you have any questions about the addition of Income America 5ForLife to the Plan&#8217;s investment lineup or would like to change your investment and contribution elections under the Plan, contact the Lincoln Customer Contact Center at
        800-234-3500 (Monday &#8211; Friday, 8:00 a.m. &#8211; 8:00 p.m. Eastern) or log on to your account at <u>LincolnFinancial.com</u>.&#160; For more information about the Plan, please review the Plan&#8217;s current Summary Plan Description (SPD) which can be requested from the Lincoln Customer Contact Center.</div>
      <div><br>
      </div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="border-bottom: 4px solid #000000; border-left: 4px solid #000000; border-right: 4px solid #000000; border-top: 4px solid #000000; vertical-align: top; width: 100%;">
              <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><br>
      </div>
      <div style="text-align: center;">**********</div>
      <div><br>
      </div>
      <div style="text-align: justify;">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="text-align: justify; margin-right: 2.9pt; 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 calling
        the Lincoln Customer Contact Center at 800-234-3500.</div>
      <div><br>
      </div>
      <div><br>
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