<SEC-DOCUMENT>0000059558-24-000016.txt : 20240409
<SEC-HEADER>0000059558-24-000016.hdr.sgml : 20240409
<ACCEPTANCE-DATETIME>20240409080224
ACCESSION NUMBER:		0000059558-24-000016
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20240409
DATE AS OF CHANGE:		20240409

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LINCOLN NATIONAL CORP
		CENTRAL INDEX KEY:			0000059558
		STANDARD INDUSTRIAL CLASSIFICATION:	LIFE INSURANCE [6311]
		ORGANIZATION NAME:           	02 Finance
		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:		24831182

	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]
		ORGANIZATION NAME:           	02 Finance
		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>fwpagentsbrokdersdcp2024.htm
<TEXT>
<html>
  <head>
    <title></title>
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<body bgcolor="#ffffff" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000;">
  <div>
    <div style="text-align: right; font-weight: bold;">Filed Pursuant to Rule 433<br>
      Registration No. 333-265361</div>
    <div style="text-align: right; font-weight: bold;">April 9, 2024</div>
    <div><br>
    </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;) as well as a Summary of Material Modifications to the Lincoln National Corporation Deferred Compensation Plan for Agents and Brokers Summary Plan Description/Prospectus.&#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 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: right;">April 9, 2024</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">Notice of Fund Changes</div>
    <div style="text-align: center; font-weight: bold;">and</div>
    <div style="text-align: center; font-weight: bold;">Summary of Material Modifications to the</div>
    <div style="text-align: center; font-weight: bold;">Lincoln National Corporation Deferred Compensation Plan for Agents</div>
    <div style="text-align: center; font-weight: bold;">and Brokers Summary Plan Description/Prospectus</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div>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;) as well as a Summary of Material Modifications to the Lincoln National Corporation Deferred Compensation Plan for Agents and Brokers Summary Plan Description/Prospectus.</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="margin-top: 4pt; font-weight: bold;"><u>Investment Fund Changes</u>:</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&#160;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;">May 20, 2024, </font>the Defined Outcome Fund option with 12% buffer and the Defined Outcome Fund option with 22% buffer (collectively the &#8220;Defined Outcome Funds&#8221;) will no longer be available as
      investment options under the Plan.&#160; Any account balances you have in and/or future deferral investment elections going to the Defined Outcome Funds at that time will automatically be mapped (or transferred) as shown in the chart below. Any
      contributions received on or after May 19, 2024 that are directed to the Defined Outcome Funds, 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 style="text-align: justify;"> <br>
    </div>
    <div style="text-align: justify;"> <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="font-size: 12pt;"><font style="font-size: 10pt;"><sup style="font-family: 'Times New Roman', serif; vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup></font>&#160; <font style="font-size: 8pt;">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.</font></div>
    </div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="zc4f62e2ae0dc44f88773f2a17fe9aff2" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 49.27%; vertical-align: middle; background-color: #D9D9D9; border-bottom: #000000 2px solid;" colspan="2">
            <div style="text-align: center; font-weight: bold;">If you are currently investing in the</div>
            <div style="text-align: center; font-weight: bold;">&#160;following options:</div>
          </td>
          <td style="width: 50.73%; vertical-align: middle; background-color: #D9D9D9; border-bottom: #000000 2px solid;" colspan="2">
            <div style="text-align: center; font-weight: bold;">Your account balance and investment elections</div>
            <div style="text-align: center; font-weight: bold;">will be mapped to:</div>
          </td>
        </tr>
        <tr>
          <td style="border-bottom: 2px solid #000000; vertical-align: middle; width: 13.21%;">
            <div style="text-align: justify;">53500Q536</div>
          </td>
          <td style="border-bottom: 2px solid #000000; vertical-align: middle; width: 36.06%;">
            <div style="text-align: justify; margin-right: 2.7pt;">Lincoln S&amp;P 500 Buffer Fund May</div>
          </td>
          <td style="border-bottom: 2px solid #000000; vertical-align: middle; width: 11.49%;">
            <div style="text-align: justify;">See Below</div>
          </td>
          <td style="border-bottom: 2px solid #000000; vertical-align: middle; width: 39.25%;">
            <div style="text-align: justify; margin-right: 2.7pt;">State Street Target Date Fund (Class M) that most closely matches the year you attain age 65</div>
          </td>
        </tr>
        <tr>
          <td style="border-bottom: 2px solid #000000; vertical-align: middle; width: 13.21%;">
            <div style="text-align: justify;">53500Q510</div>
          </td>
          <td style="border-bottom: 2px solid #000000; vertical-align: middle; width: 36.06%;">
            <div style="text-align: justify; margin-right: 2.7pt;">Lincoln S&amp;P 500 Ultra Buffer Fund May</div>
          </td>
          <td style="border-bottom: 2px solid #000000; vertical-align: middle; width: 11.49%;">
            <div style="text-align: justify;">See Below</div>
          </td>
          <td style="border-bottom: 2px solid #000000; vertical-align: middle; width: 39.25%;">
            <div style="text-align: justify; margin-right: 2.7pt;">State Street Target Date Fund (Class M) that most closely matches the year you attain age 65</div>
          </td>
        </tr>

    </table>
    <div style="text-align: justify; margin-left: 7.2pt; 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>
    <div style="margin-bottom: 3pt;"><br>
    </div>
    <div style="margin-bottom: 3pt;"><br>
    </div>
    <div style="text-align: justify; margin-right: 2.9pt; font-weight: bold;">Action to consider</div>
    <div><br>
    </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 <font style="font-weight: bold;">prior to 4:00 p.m. ET on</font>&#160;<font style="font-weight: bold;">May 19, 2024</font>.&#160; <font style="font-weight: bold;">Note:</font>&#160; You cannot choose to keep any investments in or transfer any investments to the Defined Outcome Funds after <font style="font-weight: bold;">May 20, 2024</font>.</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&#160;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
        May 19, 2024 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 May 19, 2024, (such as transfers) will not be processed while the investment option changes are being made but will process
      as soon as administratively feasible once the investment option changes are completed.&#160; Your account, however, will continue to be credited with investment results during the change.</div>
    <table cellspacing="0" cellpadding="0" id="z078fb70fbce14f70a14506d7e58ad106" 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;">&#160;</td>
        </tr>

    </table>
    <div>
      <table cellspacing="0" cellpadding="0" id="zd98fe65d874447568be9062ec28eafda" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td nowrap="nowrap" style="width: 26.96%; vertical-align: middle; background-color: #D9D9D9; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt; font-weight: bold;">MAPPED FUNDS</div>
              <div style="text-align: center; font-size: 8pt; font-weight: bold;">Fund Names</div>
            </td>
            <td nowrap="nowrap" style="width: 9%; 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 nowrap="nowrap" style="width: 8.7%; 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 nowrap="nowrap" style="width: 8.7%; 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 nowrap="nowrap" style="width: 8.7%; 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 nowrap="nowrap" style="width: 7.83%; 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 nowrap="nowrap" style="width: 7.83%; 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 nowrap="nowrap" style="width: 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 nowrap="nowrap" style="width: 11.3%; 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 nowrap="nowrap" style="width: 26.96%; vertical-align: middle; border-bottom: #000000 2px solid;">&#160;</td>
            <td nowrap="nowrap" style="width: 9%; vertical-align: middle; border-bottom: #000000 2px solid;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.7%; vertical-align: middle; border-bottom: #000000 2px solid;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.7%; vertical-align: middle; border-bottom: #000000 2px solid;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.7%; vertical-align: middle; border-bottom: #000000 2px solid;">&#160;</td>
            <td nowrap="nowrap" style="width: 7.83%; vertical-align: middle; border-bottom: #000000 2px solid;">&#160;</td>
            <td nowrap="nowrap" style="width: 7.83%; vertical-align: middle; border-bottom: #000000 2px solid;">&#160;</td>
            <td nowrap="nowrap" style="width: 11%; vertical-align: middle; border-bottom: #000000 2px solid;">&#160;</td>
            <td nowrap="nowrap" style="width: 11.3%; vertical-align: middle; border-bottom: #000000 2px solid;">&#160;</td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 26.96%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: justify; font-size: 8pt;">State Street Target Retirement Income Fund Class M&#160; (85744W630)</div>
            </td>
            <td nowrap="nowrap" style="width: 9%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">0.07%</div>
            </td>
            <td nowrap="nowrap" style="width: 8.7%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">$0.70</div>
            </td>
            <td nowrap="nowrap" style="width: 8.7%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">0.07%</div>
            </td>
            <td nowrap="nowrap" style="width: 8.7%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">$0.70</div>
            </td>
            <td nowrap="nowrap" style="width: 7.83%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">9.74</div>
            </td>
            <td nowrap="nowrap" style="width: 7.83%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">5.58</div>
            </td>
            <td nowrap="nowrap" style="width: 11%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">4.12</div>
            </td>
            <td nowrap="nowrap" style="width: 11.3%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">6/30/2009</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 26.96%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: justify; font-size: 8pt;">State Street Target Retirement 2020 Fund Class M&#160; (85744W721)</div>
            </td>
            <td nowrap="nowrap" style="width: 9%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">0.07%</div>
            </td>
            <td nowrap="nowrap" style="width: 8.7%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">$0.70</div>
            </td>
            <td nowrap="nowrap" style="width: 8.7%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">0.07%</div>
            </td>
            <td nowrap="nowrap" style="width: 8.7%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">$0.70</div>
            </td>
            <td nowrap="nowrap" style="width: 7.83%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">10.43</div>
            </td>
            <td nowrap="nowrap" style="width: 7.83%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">6.70</div>
            </td>
            <td nowrap="nowrap" style="width: 11%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">5.30</div>
            </td>
            <td nowrap="nowrap" style="width: 11.3%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">6/30/2009</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 26.96%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: justify; font-size: 8pt;">State Street Target Retirement 2025 Fund Class M&#160; (85744W713)</div>
            </td>
            <td nowrap="nowrap" style="width: 9%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">0.07%</div>
            </td>
            <td nowrap="nowrap" style="width: 8.7%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">$0.70</div>
            </td>
            <td nowrap="nowrap" style="width: 8.7%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">0.07%</div>
            </td>
            <td nowrap="nowrap" style="width: 8.7%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">$0.70</div>
            </td>
            <td nowrap="nowrap" style="width: 7.83%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">12.94</div>
            </td>
            <td nowrap="nowrap" style="width: 7.83%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">8.05</div>
            </td>
            <td nowrap="nowrap" style="width: 11%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">6.19</div>
            </td>
            <td nowrap="nowrap" style="width: 11.3%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">9/30/2009</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 26.96%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: justify; font-size: 8pt;">State Street Target Retirement 2030 Fund Class M&#160; (85744W697)</div>
            </td>
            <td nowrap="nowrap" style="width: 9%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">0.07%</div>
            </td>
            <td nowrap="nowrap" style="width: 8.7%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">$0.70</div>
            </td>
            <td nowrap="nowrap" style="width: 8.7%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">0.07%</div>
            </td>
            <td nowrap="nowrap" style="width: 8.7%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">$0.70</div>
            </td>
            <td nowrap="nowrap" style="width: 7.83%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">15.78</div>
            </td>
            <td nowrap="nowrap" style="width: 7.83%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">8.94</div>
            </td>
            <td nowrap="nowrap" style="width: 11%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">6.71</div>
            </td>
            <td nowrap="nowrap" style="width: 11.3%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">6/30/2009</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 26.96%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: justify; font-size: 8pt;">State Street Target Retirement 2035 Fund Class M&#160; (85744W689)</div>
            </td>
            <td nowrap="nowrap" style="width: 9%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">0.07%</div>
            </td>
            <td nowrap="nowrap" style="width: 8.7%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">$0.70</div>
            </td>
            <td nowrap="nowrap" style="width: 8.7%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">0.07%</div>
            </td>
            <td nowrap="nowrap" style="width: 8.7%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">$0.70</div>
            </td>
            <td nowrap="nowrap" style="width: 7.83%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">16.96</div>
            </td>
            <td nowrap="nowrap" style="width: 7.83%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">9.48</div>
            </td>
            <td nowrap="nowrap" style="width: 11%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">7.04</div>
            </td>
            <td nowrap="nowrap" style="width: 11.3%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">9/30/2009</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 26.96%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: justify; font-size: 8pt;">State Street Target Retirement 2040 Fund Class M&#160; (85744W671)</div>
            </td>
            <td nowrap="nowrap" style="width: 9%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">0.07%</div>
            </td>
            <td nowrap="nowrap" style="width: 8.7%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">$0.70</div>
            </td>
            <td nowrap="nowrap" style="width: 8.7%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">0.07%</div>
            </td>
            <td nowrap="nowrap" style="width: 8.7%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">$0.70</div>
            </td>
            <td nowrap="nowrap" style="width: 7.83%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">17.87</div>
            </td>
            <td nowrap="nowrap" style="width: 7.83%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">9.98</div>
            </td>
            <td nowrap="nowrap" style="width: 11%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">7.31</div>
            </td>
            <td nowrap="nowrap" style="width: 11.3%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">6/30/2009</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 26.96%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: justify; font-size: 8pt;">State Street Target Retirement 2045 Fund Class M&#160; (85744W663)</div>
            </td>
            <td nowrap="nowrap" style="width: 9%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">0.07%</div>
            </td>
            <td nowrap="nowrap" style="width: 8.7%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">$0.70</div>
            </td>
            <td nowrap="nowrap" style="width: 8.7%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">0.07%</div>
            </td>
            <td nowrap="nowrap" style="width: 8.7%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">$0.70</div>
            </td>
            <td nowrap="nowrap" style="width: 7.83%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">18.66</div>
            </td>
            <td nowrap="nowrap" style="width: 7.83%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">10.42</div>
            </td>
            <td nowrap="nowrap" style="width: 11%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">7.57</div>
            </td>
            <td nowrap="nowrap" style="width: 11.3%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">9/30/2009</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 26.96%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: justify; font-size: 8pt;">State Street Target Retirement 2050 Fund Class M&#160; (85744W655)</div>
            </td>
            <td nowrap="nowrap" style="width: 9%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">0.07%</div>
            </td>
            <td nowrap="nowrap" style="width: 8.7%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">$0.70</div>
            </td>
            <td nowrap="nowrap" style="width: 8.7%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">0.07%</div>
            </td>
            <td nowrap="nowrap" style="width: 8.7%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">$0.70</div>
            </td>
            <td nowrap="nowrap" style="width: 7.83%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">19.47</div>
            </td>
            <td nowrap="nowrap" style="width: 7.83%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">10.69</div>
            </td>
            <td nowrap="nowrap" style="width: 11%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">7.68</div>
            </td>
            <td nowrap="nowrap" style="width: 11.3%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">10/31/2009</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 26.96%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: justify; font-size: 8pt;">State Street Target Retirement 2055 Fund Class M&#160; (85744W648)</div>
            </td>
            <td nowrap="nowrap" style="width: 9%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">0.07%</div>
            </td>
            <td nowrap="nowrap" style="width: 8.7%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">$0.70</div>
            </td>
            <td nowrap="nowrap" style="width: 8.7%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">0.07%</div>
            </td>
            <td nowrap="nowrap" style="width: 8.7%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">$0.70</div>
            </td>
            <td nowrap="nowrap" style="width: 7.83%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">19.53</div>
            </td>
            <td nowrap="nowrap" style="width: 7.83%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">10.69</div>
            </td>
            <td nowrap="nowrap" style="width: 11%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">7.69</div>
            </td>
            <td nowrap="nowrap" style="width: 11.3%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">4/30/2011</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 26.96%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: justify; font-size: 8pt;">State Street Target Retirement 2060 Fund Class M&#160; (85744W465)</div>
            </td>
            <td nowrap="nowrap" style="width: 9%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">0.07%</div>
            </td>
            <td nowrap="nowrap" style="width: 8.7%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">$0.70</div>
            </td>
            <td nowrap="nowrap" style="width: 8.7%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">0.07%</div>
            </td>
            <td nowrap="nowrap" style="width: 8.7%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">$0.70</div>
            </td>
            <td nowrap="nowrap" style="width: 7.83%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">19.53</div>
            </td>
            <td nowrap="nowrap" style="width: 7.83%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">10.69</div>
            </td>
            <td nowrap="nowrap" style="width: 11%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">7.71</div>
            </td>
            <td nowrap="nowrap" style="width: 11.3%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">4/1/2015</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 26.96%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: justify; font-size: 8pt;">State Street Target Retirement 2065 Fund Class M  (857480354)</div>
            </td>
            <td nowrap="nowrap" style="width: 9%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">0.07%</div>
            </td>
            <td nowrap="nowrap" style="width: 8.7%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">$0.70</div>
            </td>
            <td nowrap="nowrap" style="width: 8.7%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">0.07%</div>
            </td>
            <td nowrap="nowrap" style="width: 8.7%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">$0.70</div>
            </td>
            <td nowrap="nowrap" style="width: 7.83%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">19.52</div>
            </td>
            <td nowrap="nowrap" style="width: 7.83%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">--</div>
            </td>
            <td nowrap="nowrap" style="width: 11%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">7.37</div>
            </td>
            <td nowrap="nowrap" style="width: 11.3%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">12/31/2019</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z68cbb38a868a4a57bcba2207d8b990dc" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td nowrap="nowrap" style="width: 26.75%; vertical-align: middle; background-color: #D9D9D9; border-bottom: #000000 2px solid;">
              <div>&#160;</div>
              <div>&#160;</div>
              <div style="text-align: center; font-size: 8pt; font-weight: bold;">FUNDS NO LONGER AVAILABLE EFFECTIVE MAY 20, 2024</div>
              <div style="text-align: center; font-size: 8pt; font-weight: bold;">Fund Names</div>
              <div>&#160;</div>
            </td>
            <td style="width: 8.99%; 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: 8.64%; 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: 8.64%; 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: 8.64%; 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: 7.78%; 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: 8.83%; 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: 9.89%; 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: 11.84%; 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="border-bottom: 2px solid #000000; vertical-align: middle; white-space: nowrap; width: 26.75%; text-align: center;">
              <div style="text-align: justify; margin-right: 2.7pt; font-size: 8pt;">Lincoln S&amp;P 500 Buffer Fund May (53500Q536)</div>
            </td>
            <td style="border-bottom: 2px solid #000000; vertical-align: middle; white-space: nowrap; width: 8.99%; text-align: center;">
              <div style="font-size: 8pt;">1.05%</div>
            </td>
            <td style="border-bottom: 2px solid #000000; vertical-align: middle; white-space: nowrap; width: 8.64%; text-align: center;">
              <div style="font-size: 8pt;">$10.50</div>
            </td>
            <td style="border-bottom: 2px solid #000000; vertical-align: middle; white-space: nowrap; width: 8.64%; text-align: center;">
              <div style="font-size: 8pt;">1.05%</div>
            </td>
            <td style="border-bottom: 2px solid #000000; vertical-align: middle; white-space: nowrap; width: 8.64%; text-align: center;">
              <div style="font-size: 8pt;">$10.50</div>
            </td>
            <td style="border-bottom: 2px solid #000000; vertical-align: middle; white-space: nowrap; width: 7.78%; text-align: center;">
              <div style="font-size: 8pt;">16.63%</div>
            </td>
            <td style="border-bottom: 2px solid #000000; vertical-align: middle; white-space: nowrap; width: 8.83%; text-align: center;">
              <div style="font-size: 8pt;">--</div>
            </td>
            <td style="border-bottom: 2px solid #000000; vertical-align: middle; white-space: nowrap; width: 9.89%; text-align: center;">
              <div style="font-size: 8pt;">5.90%</div>
            </td>
            <td style="border-bottom: 2px solid #000000; vertical-align: middle; white-space: nowrap; width: 11.84%; text-align: center;">
              <div style="font-size: 8pt;">5/21/2021</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 26.75%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: justify; margin-right: 2.7pt; font-size: 8pt;">Lincoln S&amp;P 500 Ultra Buffer Fund May (53500Q510)</div>
            </td>
            <td nowrap="nowrap" style="width: 8.99%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">1.05%</div>
            </td>
            <td nowrap="nowrap" style="width: 8.64%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">$10.50</div>
            </td>
            <td nowrap="nowrap" style="width: 8.64%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">1.05%</div>
            </td>
            <td nowrap="nowrap" style="width: 8.64%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">$10.50</div>
            </td>
            <td nowrap="nowrap" style="width: 7.78%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">13.00%</div>
            </td>
            <td nowrap="nowrap" style="width: 8.83%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">--</div>
            </td>
            <td nowrap="nowrap" style="width: 9.89%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">4.89%</div>
            </td>
            <td nowrap="nowrap" style="width: 11.84%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 8pt;">5/21/2021</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div style="font-size: 8pt;">Average returns provided are representative of performance as of December 31, 2023.</div>
    </div>
    <table cellspacing="0" cellpadding="0" id="z44b82555efbb49e1b25ed7d80a8da0fd" 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;"><br>
          </td>
        </tr>

    </table>
    <div style="margin-top: 4pt; font-weight: bold;"><u>Summary of Material Modifications</u>:</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-weight: bold;">The below information is a Summary of Material Modifications (&#8220;SMM&#8221;) intended to notify you of important changes made to the Plan.&#160; This
      SMM supplements or modifies the June 2, 2022 Summary Plan Description/Prospectus (&#8220;SPD&#8221;) for the Plan and is subject to the terms of the plan document.&#160; Please take the time to read this SMM and keep a copy of it with your June 2, 2022 SPD.</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-style: italic; font-weight: bold;"><u>Effective January 1, 2023, the Plan
          Sponsor made the following change to the Plan</u>:</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-style: italic;">The following replaces the definition of &#8220;Deferrable Earnings,&#8221; in its entirety, on page 28 of the SPD:</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;&#8216;<font style="font-weight: bold;">Deferrable Earnings</font>&#8217; means gross first year life
      and renewal insurance commissions plus gross first year and renewal/trailer annuity and retirement commissions paid to the Participant during the Plan year from the sale of LNL, LLANY, LFA or Company brokered products under a valid sales contract
      with LNL or LLANY or all commissions paid under a registered representative&#8217;s contract with LFA.&#160; Deferrable Earnings shall also include gross Permanent Fixed Life and Annuity Program earnings for eligible Agents and Brokers.&#160; For purposes of this
      Plan, &#8216;gross&#8217; means gross commissions reportable before any applicable tax withholdings.&#160; Deferrable Earnings do not include (a) additional payouts under any producer group arrangement unless, effective for Plan years on and after January 1, 2023,
      the individual is also the writing agent; (b) commissions on group products, (c) effective as of May 1, 2023, any commissions and adjustments paid under prepaid arrangements for non-proprietary commissions (e.g., fixed business through Crump); (d)
      any other earnings not paid through the BOCASoft sales compensation system; or (e) any benefit assistance, benefit stipend or benefit subsidy paid by the Company.&#160; Deferrable Earnings may be paid on either a W-2 basis (for Agents) or a 1099 basis
      (for Agents and Brokers).&#8221;</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-style: italic; font-weight: bold;"><u>Effective May 20, 2024, the Plan
          Sponsor made the following change to the Plan</u>:</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z593985abaafb4e3ba42f0966d56b29ae" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: -14.4pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; text-align: right; font-style: italic;">1.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>&#8220;<u>Defined Outcome Options</u>&#8221;<font style="font-style: italic;"> under Section L (</font>The Investment Supplement &#8211; Summary Information on the Investment Options<font style="font-style: italic;">) on pages 45-46 of the SPD is deleted in its entirety.&#160; </font></div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z19591320ac794005b4d1f3935b6ae413" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: -14.4pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; text-align: right; font-style: italic;">2.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div><font style="font-style: italic;">The third paragraph under &#8220;</font><font style="font-weight: bold;">Investment Decisions; Diversification</font><font style="font-style: italic;">&#8221; on page 47 of the SPD is
                replaced in its entirety to read:</font></div>
          </td>
        </tr>

    </table>
    <div style="text-align: justify; margin-left: 21.6pt;"> <br>
    </div>
    <div style="text-align: justify; margin-left: 21.6pt;">&#8220;As of the date of this Prospectus the Investment Options listed below are available for you to invest in.&#160; These are the same
      investments currently offered under the LNL 401(k) Plan.&#160; For more detailed information about each of the Investment Options (except for the LNC Stock Fund) please log onto your account at <font style="font-weight: bold;">www.NolanLink.com</font> or contact Nolan at 888-907-8633.&#160; Information about the Investment Options can also be found at <font style="font-weight: bold;">LincolnFinancial.com/RetirementInfoCenter</font>.&#8221;</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z99aa25ad7d024d6cb5432ea6c0a7ba7f" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: -14.4pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; text-align: right; font-style: italic;">3.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div><font style="font-style: italic;">References to &#8220;Lincoln S&amp;P 500 Buffer Fund May&#8221; and &#8220;Lincoln
                S&amp;P 500 Ultra Buffer Fund May&#8221; under the </font>&#8220;Investment Lineup as of June 1,2022 - Tier 4 &#8211; Specialty Option&#8221;<font style="font-style: italic;"> on page 49 of the SPD
                are deleted in their entirety.</font></div>
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          <td style="width: 36pt; vertical-align: top; text-align: right; font-style: italic;">4.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div><font style="font-style: italic;">The </font><font style="font-weight: bold;">&#8220;Defined Outcome Funds&#8221;</font><font style="font-style: italic;"> section on pages 63-64 of the SPD is deleted in its entirety.</font></div>
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    <div style="text-align: center; font-size: 12pt;">* * * * * *</div>
    <div><br>
    </div>
    <div style="text-align: justify;"><font style="font-weight: bold;">Questions?<br>
        </font><br>
    </div>
    <div style="text-align: justify;">If you have any questions about these changes or would like to make a change to 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>
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    <div style="border: 3px solid #000000; padding: 5px; width: 99%;">
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              <div>&#160;</div>
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;">This Notice contains important information about the Plan and</div>
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;">should be kept with your Summary Plan Description/Prospectus.</div>
              <div>&#160;</div>
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    <div style="text-align: center; font-size: 12pt;">* * * * * *</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;"><font style="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 </font>www.sec.gov<font style="font-weight: bold;">.&#160; Alternately, the issuer will arrange to send you the prospectus if you request it by calling Nolan Financial Group at 888-907-8633.</font></div>
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