# EDGAR Filing Document

**Accession Number:** 0000059558
**File Stem:** 0000059558-23-000015
**Filing Date:** 2023-3
**Character Count:** 9016
**Document Hash:** 798d27516701994c29f23e5c6ce86969
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000059558-23-000015.hdr.sgml**: 20230324

**ACCESSION NUMBER**: 0000059558-23-000015

**CONFORMED SUBMISSION TYPE**: FWP

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20230324

**DATE AS OF CHANGE**: 20230324

**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:** 23757706

**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

#### Filed Pursuant to Rule 433<br> Registration No. 333-265361

#### March 24, 2023

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 "Plan"). For more information about each of the investment options offered under the Plan (except for the LNC Stock Fund), you should log on to Nolan Financial Group's website at www.nolanlink.com or contact Nolan Financial Group at 888-907-8633.

March 24, 2023

#### Notice of Fund Changes for:
Lincoln National Corporation Deferred Compensation Plan

for Agents and Brokers

(the "Plan")

Dear Plan Participant:

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 "Plan"). For more information about each of the investment options offered under the Plan\* (except for the LNC Stock Fund), you should visit LincolnFinancial.com/RetirementInfoCenter or log on to Nolan Financial Group's website at www.nolanlink.com or contact Nolan Financial Group at 888-907-8633.

Effective **April 25, 2023,** the Jackson Square SMID-Cap Growth CIT Fund (Class M) will be replaced with AB Discovery Growth Fund Class Z. Any account balances you have in, and/or future deferral investment elections going to the Jackson Square SMID-Cap Growth CIT Fund (Class M) at that time will automatically be mapped (or transferred) as shown in the chart below. Any contributions received on or after April 25, 2023 that are directed to the investment option being eliminated, will be mapped as shown in the chart below. **Because this mapping (or transfer) is automatic, you do not need to take any action**.

---

| | | | |
|:---|:---|:---|:---|
| **If you are currently invested in the following investment option being <u>eliminated</u>:** | **If you are currently invested in the following investment option being <u>eliminated</u>:** | **Your balance and investment elections will be transferred to the new investment option being <u>added</u>:** | **Your balance and investment elections will be transferred to the new investment option being <u>added</u>:** |
| 24610F884 | Jackson Square SMID-Cap Growth CIT Fund (Class M) | CHCZX | AB Discovery Growth Fund Class Z |
| Prior to investing in a mutual fund investment option, an investor should consider carefully the investment objectives, risks, and charges and expenses of the investment company. The prospectus contains this and other important information and should be read carefully before investing. | Prior to investing in a mutual fund investment option, an investor should consider carefully the investment objectives, risks, and charges and expenses of the investment company. The prospectus contains this and other important information and should be read carefully before investing. | Prior to investing in a mutual fund investment option, an investor should consider carefully the investment objectives, risks, and charges and expenses of the investment company. The prospectus contains this and other important information and should be read carefully before investing. | Prior to investing in a mutual fund investment option, an investor should consider carefully the investment objectives, risks, and charges and expenses of the investment company. The prospectus contains this and other important information and should be read carefully before investing. |

---

#### What do you need to do?
Take a few minutes to review your investment portfolio. Make any changes you feel are necessary to meet your retirement savings goals. If you don't want the investment of your existing account to be mapped (or transferred) as indicated, you may change your investment elections and/or make a reallocation on your own by initiating a transfer prior to 4:00 p.m. Eastern on **April 24, 2023.** Note that you cannot choose to keep any investments in or transfer any investments to the investment option being eliminated. For more information on the available investment options log on to your account at www.nolanlink.com or visit LincolnFinancial.com/RetirementInfoCenter.

**Please be sure to make any changes prior to April 24, 2023.** Of course, you could also wait until after the automatic mapping occurs if you wish to exchange investment options or change where your future deferrals are invested.

**\*** Reminder, your Plan account is not actually invested in the investment options offered under the Plan. Instead, the performance of the investment options is used solely as a measure to calculate the value of your Plan account, and eventual benefit. This is sometimes referred to as "phantom" or "notional" investing.

Any transactions requested on April 24, 2023 (such as transfers) will not be processed while the investment option change is being made but will process normally once the investment option change is completed. Your account, however, will continue to be credited with investment results during the change.

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **NEW INVESTMENT OPTION**<br> **Fund name** | **Total annual operating expenses%** | **Total annual operating expenses $** | **Net operating expenses %** | **Net operating expenses $** | **1-yr return %** | **5-yr return %** | **10-yr return %** | **Since inception return %** | **Inception date** |
| AB Discovery Growth Fund Class Z (CHCZX) | 0.64% | $6.40 | 0.64% | $6.40 | -35.89% | 6.43% | --- | 10.45% | 5/30/2014 |

---

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **ELIMINATED INVESTMENT OPTION**<br> **Fund name** | **Total annual operating expenses%** | **Total annual operating expenses $** | **Net operating expenses %** | **Net operating expenses $** | **1-yr return %** | **5-yr return %** | **10-yr return %** | **Since inception return %** | **Inception date** |
| Jackson Square SMID-Cap Gr CIT Fd (Cl M) (24610F884) | 0.75% | $7.50 | 0.75% | $7.50 | -39.34% | 3.21% | 9.04% | --- | 6/30/2011 |

---

Average returns provided are representative of performance as of December 31, 2022.

**Questions?**<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. For more information about the Plan, please review the Plan's current Summary Plan Description/Prospectus.

\*\*\*\*\*\*\*\*\*\*

<br> **This Notice contains important information about the Plan and**<br> **should be kept with your Summary Plan Description/Prospectus.**<br>

All of the internet website addresses are provided for your convenience. None of the information contained in such websites shall be deemed incorporated by reference in this document.

**The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents free by visiting EDGAR on the SEC website at www.sec.gov. Alternately, the issuer will arrange to send you the prospectus if you request it by calling Nolan Financial Group at 888-907-8633.**

<br>