<SEC-DOCUMENT>0000059558-23-000061.txt : 20231117
<SEC-HEADER>0000059558-23-000061.hdr.sgml : 20231117
<ACCEPTANCE-DATETIME>20231117080342
ACCESSION NUMBER:		0000059558-23-000061
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20231117
DATE AS OF CHANGE:		20231117

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:	333-265361
		FILM NUMBER:		231416469

	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>fwpagentsbrokersdcp112023.htm
<TEXT>
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    <title>&#160;</title>
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         Document created using Broadridge PROfile 22.9.1.5075
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  <div id="TRGRSegment:e34c2f90-b7e2-4c5f-966f-5c35cf973f16">
    <div style="text-align: right; font-size: 12pt; font-weight: bold;">Filed Pursuant to Rule 433<br>
      Registration No. 333-265361</div>
    <div style="text-align: right; font-size: 12pt; font-weight: bold;">November 17, 2023</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="text-align: left;">The following information is a Notice of Fund 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, you should log on to Nolan Financial Group&#8217;s website at www.nolanlink.com or contact Nolan Financial Group at 888-907-8633. </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="text-align: left;"><br>
    </div>
    <div><br>
    </div>
    <div style="text-align: center; margin-top: 4pt; font-weight: bold;">Notice of Fund Changes for:</div>
    <div style="text-align: center; margin-top: 4pt;">Lincoln National Corporation Deferred Compensation Plan for Agents and Brokers</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="text-align: left; margin-right: 2.7pt;">Dear Plan Participant:</div>
    <div><br>
    </div>
    <div style="text-align: justify;">The following information is a Notice of Fund 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<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>, you should visit LincolnFinancial.com/RetirementInfoCenter or log on to Nolan Financial Group&#8217;s website at www.nolanlink.com or contact Nolan Financial Group at 888-907-8633.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">Effective <font style="font-weight: bold;">December 19, 2023, </font>the American Funds Growth Fund of America Class R-6<font style="font-weight: bold;">&#160;</font>will be replaced with J.P. Morgan Asset Management&#8217;s
      JPMCB Large Cap Growth Fund CF-A Class. Any account balances you have in and/or future deferral investment elections going to the American Funds Growth Fund of America Class R-6<font style="font-weight: bold;">&#160;</font>at that time will automatically
      be mapped (or transferred) as shown in the chart below. Any contributions received on or after December 19, 2023 that are directed to the investment option being eliminated, will be mapped as shown in the chart below.<font style="font-weight: bold;">
        Because this mapping (or transfer) is automatic, you do not need to take any action</font>.</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;" id="z5c370455fac44265a79c3bdafb298e28">

        <tr>
          <td colspan="2" style="width: 49.04%; vertical-align: middle; background-color: #F2F2F2; border-bottom: #000000 2px solid;">
            <div style="font-weight: bold;">If you are currently invested in the following investment option being <u>eliminated</u>:</div>
          </td>
          <td colspan="2" style="width: 50.96%; vertical-align: middle; background-color: #F2F2F2; border-bottom: #000000 2px solid;">
            <div style="font-weight: bold;">Your balance and investment elections will be transferred to the new investment option being <u>added</u>:</div>
          </td>
        </tr>
        <tr>
          <td style="width: 15.38%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: center;">RGAGX</div>
          </td>
          <td style="width: 33.65%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="margin-right: 2.7pt;">American Funds Growth Fund of America Class R-6</div>
          </td>
          <td style="width: 15.38%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: center;">20261K404</div>
          </td>
          <td style="width: 35.58%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="margin-right: 2.7pt;">JPMCB Large Cap Growth Fund CF-A Class</div>
          </td>
        </tr>
        <tr>
          <td colspan="4" style="width: 100%; vertical-align: top; border-bottom: #000000 2px solid;">
            <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: 2.9pt; 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 are necessary to meet your retirement savings goals. If you don&#8217;t want the investment of your existing account 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. ET on <font style="font-weight: bold;">December 19, 2023</font>. Note that you cannot choose to
      keep any investments in or transfer any investments to the investment option being eliminated.</div>
    <br>
    <br>
    <hr noshade="noshade" align="left" style="text-align: left; background-color: #000000; border: 0px; height: 1px; width: 2in; margin-left: 0pt; margin-right: auto; color: #000000;">
    <div style="text-align: justify; font-size: 8pt;"><sup style="font-family: 'Times New Roman'; vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup><font style="font-size: 12pt;">&#160; </font>Reminder, your Plan account is not actually invested in the investment options offered under the Plan.&#160;
      Instead, the performance of the investment options is used solely as a measure to calculate the value of your Plan account, and eventual benefit.&#160; This is sometimes referred to as &#8220;phantom&#8221; or &#8220;notional&#8221; investing.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">For more information on the available investment options log on to your account at www.nolanlink.com or visit LincolnFinancial.com/RetirementInfoCenter. </div>
    <div><br>
    </div>
    <div style="text-align: justify;"><font style="font-weight: bold;">Please be sure to make any changes prior to 4:00 p.m. ET on December 19, 2023 if you do not want the mapping (or transfer) to occur.</font>&#160; Of course, you could also wait until after
      the automatic mapping (or transfer) occurs if you wish to exchange investment options or change where your future deferrals are invested.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">Any transactions requested on December 19, 2023, (such as transfers) will not be processed while the investment option change is being made but will process as soon as administratively feasible once the investment
      option change is completed.&#160; Your account, however, will continue to be credited with investment results during the change.</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;" id="z9cce6c5c790149eba1c7054c2746d786">

        <tr>
          <td nowrap="nowrap" style="width: 21.81%; vertical-align: middle; background-color: #F2F2F2; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-size: 8pt; font-weight: bold;">NEW INVESTMENT OPTION</div>
            <div style="text-align: center; font-size: 8pt; font-weight: bold;">Fund name</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; font-weight: bold;">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; font-weight: bold;">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; font-weight: bold;">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; font-weight: bold;">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; font-weight: bold;">1-yr return %</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; font-weight: bold;">5-yr return %</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; font-weight: bold;">10-yr return %</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; font-weight: bold;">Since inception return %</div>
          </td>
          <td style="width: 9.5%; vertical-align: middle; background-color: #F2F2F2; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-size: 8pt; font-weight: bold;">Inception date</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 21.81%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-size: 8pt;">JPMCB Large Cap Growth Fund CF-A (20261K404)</div>
          </td>
          <td nowrap="nowrap" style="width: 8.59%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-size: 8pt;">0.40%</div>
          </td>
          <td nowrap="nowrap" style="width: 8.59%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-size: 8pt;">$4.00</div>
          </td>
          <td nowrap="nowrap" style="width: 8.59%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-size: 8pt;">0.40%</div>
          </td>
          <td nowrap="nowrap" style="width: 8.59%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-size: 8pt;">$4.00</div>
          </td>
          <td nowrap="nowrap" style="width: 8.59%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-size: 8pt;">23.63%</div>
          </td>
          <td nowrap="nowrap" style="width: 8.59%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-size: 8pt;">5.91%</div>
          </td>
          <td nowrap="nowrap" style="width: 8.59%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-size: 8pt;">15.49%</div>
          </td>
          <td nowrap="nowrap" style="width: 8.59%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-size: 8pt;">----</div>
          </td>
          <td nowrap="nowrap" style="width: 9.5%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-size: 8pt;">6/22/2018</div>
          </td>
        </tr>

    </table>
    <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;" id="zc3c920201268452cbdd0b7df34f3c802">

        <tr>
          <td style="background-color: #F2F2F2; border-bottom: 2px solid #000000; vertical-align: middle; white-space: nowrap; width: 21.81%;">
            <div style="text-align: center; font-size: 8pt; font-weight: bold;">ELIMINATED INVESTMENT OPTION</div>
            <div style="text-align: center; font-size: 8pt; font-weight: bold;">Fund name</div>
          </td>
          <td style="background-color: #F2F2F2; border-bottom: 2px solid #000000; vertical-align: middle; white-space: nowrap; width: 8.59%;">
            <div style="text-align: center; font-size: 8pt; font-weight: bold;">Total annual operating expenses%</div>
          </td>
          <td style="background-color: #F2F2F2; border-bottom: 2px solid #000000; vertical-align: middle; white-space: nowrap; width: 8.59%;">
            <div style="text-align: center; font-size: 8pt; font-weight: bold;">Total annual operating expenses $</div>
          </td>
          <td style="background-color: #F2F2F2; border-bottom: 2px solid #000000; vertical-align: middle; white-space: nowrap; width: 8.59%;">
            <div style="text-align: center; font-size: 8pt; font-weight: bold;">Net operating expenses %</div>
          </td>
          <td style="background-color: #F2F2F2; border-bottom: 2px solid #000000; vertical-align: middle; white-space: nowrap; width: 8.59%;">
            <div style="text-align: center; font-size: 8pt; font-weight: bold;">Net operating expenses $</div>
          </td>
          <td style="background-color: #F2F2F2; border-bottom: 2px solid #000000; vertical-align: middle; white-space: nowrap; width: 8.59%;">
            <div style="text-align: center; font-size: 8pt; font-weight: bold;">1-yr return %</div>
          </td>
          <td style="background-color: #F2F2F2; border-bottom: 2px solid #000000; vertical-align: middle; white-space: nowrap; width: 8.59%;">
            <div style="text-align: center; font-size: 8pt; font-weight: bold;">5-yr return %</div>
          </td>
          <td style="background-color: #F2F2F2; border-bottom: 2px solid #000000; vertical-align: middle; white-space: nowrap; width: 8.59%;">
            <div style="text-align: center; font-size: 8pt; font-weight: bold;">10-yr return %</div>
          </td>
          <td style="background-color: #F2F2F2; border-bottom: 2px solid #000000; vertical-align: middle; white-space: nowrap; width: 8.59%;">
            <div style="text-align: center; font-size: 8pt; font-weight: bold;">Since inception return %</div>
          </td>
          <td style="background-color: #F2F2F2; border-bottom: 2px solid #000000; vertical-align: middle; white-space: nowrap; width: 9.5%;">
            <div style="text-align: center; font-size: 8pt; font-weight: bold;">Inception date</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 21.81%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-size: 8pt;">American Funds Growth Fund of Amer R6 (RGAGX)</div>
          </td>
          <td nowrap="nowrap" style="width: 8.59%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-size: 8pt;">0.30%</div>
          </td>
          <td nowrap="nowrap" style="width: 8.59%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-size: 8pt;">$3.00</div>
          </td>
          <td nowrap="nowrap" style="width: 8.59%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-size: 8pt;">0.30%</div>
          </td>
          <td nowrap="nowrap" style="width: 8.59%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-size: 8pt;">$3.00</div>
          </td>
          <td nowrap="nowrap" style="width: 8.59%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-size: 8pt;">23.09%</div>
          </td>
          <td nowrap="nowrap" style="width: 8.59%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-size: 8pt;">8.61%</div>
          </td>
          <td nowrap="nowrap" style="width: 8.59%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-size: 8pt;">11.72%</div>
          </td>
          <td nowrap="nowrap" style="width: 8.59%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-size: 8pt;">-----</div>
          </td>
          <td nowrap="nowrap" style="width: 9.5%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-size: 8pt;">5/1/2009</div>
          </td>
        </tr>

    </table>
    <div style="text-align: left; margin-top: 3pt;">Average returns provided are representative of performance as of September 30, 2023.</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="text-align: left;"><font style="font-weight: bold;">Questions?</font><br>
      If you have any questions about these changes or would like to change your current account balance and/or investment elections under the Plan, contact Nolan Financial Group at 888-907-8633 or log on to your account at www.nolanlink.com.&#160; For more
      information about the Plan, please review the Plan&#8217;s current Summary Plan Description/Prospectus.</div>
    <div><br>
    </div>
    <div style="text-align: center;">**********</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;" id="zb169063d805b477ab0622d1b8a452028">

        <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>&#160;</div>
            <div style="text-align: center; font-weight: bold;">This Notice contains important information about the Plan and</div>
            <div style="text-align: center; font-weight: bold;">should be kept with your Summary Plan Description/Prospectus.</div>
            <div>&#160;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: left;">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><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 website at www.sec.gov.&#160;
      Alternately, the issuer will arrange to send you the prospectus if you request it by calling Nolan Financial Group at 888-907-8633.</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
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</SEC-DOCUMENT>
