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HomeMy WebLinkAboutLincoln Financial- Plan ReviewSt. Lucie County Board of County Commissioners Plan review as of 3/31 /2026 Maria Goncalves, QKA Relationship Manager Insurance products issued by: The Lincoln National Life Insurance Company Lincoln Life & Annuity Company of New York LCN-6402119-021424 F;w � A& ".W,. Lincoln update Workplace Solutions: What we offer Delivering benefits that help provide protection for today and preparation for tomorrow Dynamic retirement plan design • Automatic enrollment • Automatic increase • Qualified Default Investment Alternative (QDIA) reallocation Innovative retirement investment options • Guaranteed retirement income options • Stable value • Portfolio solutions • Managed Accounts Comprehensive employer services Persor employee f Integrated wellness solutions a Lincoln Financial'" • WellnessPATH° • Student loan solutions • Emergency savings solutions • Health savings account Holistic employee benefits • Disability insurance and leave services • Accident, critical illness, and hospital indemnity insurance • Dental and vision insurance • Life insurance LCN-6402119-021424 Plan sponsor use only. © Lincoln Financial ��q 6w- LCN-6402119-021424 a Lincoln Financial® Remember, you'll never have more time to save than you do today. Take this opportunity to review your contribution rate and see if you can boost your savings. Make the most of your retirement plan today! For more information, contact your retirement plan representative. Keep up with employee benefit limits Make the most of your retirement plan this year. Your employer -sponsored retirement plan may be one of your most important assets during retirement. That's why it's important to make the most of it by saving as much as you can now. So, ask yourself: Am I saving enough for the future I envision? 2025 2026 Maximum annual benefit earned under a defined benefit $280,000 $290,000 plan [IRC Section 415 limit] Maximum contribution to a participant's account in one or $70,000 $72,000 more defined contribution plans [IRC Section 415 limit] Maximum salary deferral — 401(k)/403(b) plans [IRC $23,500 $24,500 Section 402(g) limit] and most 457 plans Maximum salary deferral — SIMPLE 401(k) plans $16,500 $17,000 Minimum compensation amount — SEPs $750 $800 Maximum compensation amount — 401(a) plans, 403(b) $350,000 $360,000 plans, and SEPs Age 50 catch-up contribution — 401(k) plans, 403(b) plans, $7,500 $8,000 and 457(b) governmental plans Age 60 — 63 catch-up contribution — 401(k) plans, 403(b) $11,250 $11,250 plans, and 457(b) governmental plans' Age 50 catch-up contribution — SIMPLE 401(k) plans $3,500 $4,000 Age 60 — 63 catch-up contribution — SIMPLE 401(k) plans' $5,250 $5,250 Highly compensated employee (HCE) salary definition $160,000 $160,000 Highly paid individual (HPI) FICA salary definition — subject $145,000 $150,000 to mandatory Roth catch-up3 Key employee in top-heavy plan salary definition $230,000 $235,000 Social Security taxable wage base $176,100 $184,500 Source: Internal F;b\wue Service, irs.gov, November 13, 2025, and Social Security Administration, ssa.gov, C tober 24, 2025. 8523294 1 a Lincoln Financial® Your tomorrow. This information is brought to you as a courtesy and is for educational purposes only. Our affiliates and their representatives are not engaged in rendering legal, accounting, or other professional advice. If these services are Our priority. required, an appropriate professional should be retained. This material is for your information, and we're not soliciting any action based upon it, nor should it be construed as an offer to sell or as a solicitation of an offer to buy any security. Not a deposit Not FDIC -insured Not insured by any federal government agency Not guaranteed by any bank or savings association May go down in value ©2025 Lincoln National Corporation LincolnFinancial.com/Retirement Lincoln Financial is the marketing name for Lincoln National Corporation and its affiliates. Affiliates are separately responsible for their own financial and contractual obligations. PAD-8523294-102125 POD ADA 11/25 Z23 Order code: DC-IRS-FLI001 The SECURE 2.0 Act of 2022 increases the catch-up limit for participants who attain age 60 — 63 during the calendar year. In the year the participant attains age 64, the limit returns to the age 50 catch-up limit. Check with your plan sponsor to see if this new catch-up limit is available in your plan. 2 The salary definition in the designated year determines the participant's status as of the first day of the next year. For example, if a participant's HCE salary exceeds the limit in the prior plan year, they are an HCE for the current plan year. 3 If a participant's FICA wages exceed the HPI salary threshold in the previous calendar year, then they are an HPI for the current calendar year and must make age -based catch-up contributions as Roth for the current calendar year. Lincoln retirement consultants/relationship managers are registered representatives of Lincoln Financial Distributors, Inc. (member FINRA), a wholesale broker -dealer affiliated with Lincoln Financial. Retirement consultants/relationship managers do not provide tax or legal advice. Retirement consultants/relationship managers do not provide investment advice or recommendations. This material is provided by The Lincoln National Life Insurance Company, Fort Wayne, IN, and, in New York, Lincoln Life & Annuity Company of New York, Syracuse, NY, and their applicable affiliates (collectively referred to as "Lincoln"). The Lincoln National Life Insurance Company does not solicit business in the state of New York, nor is it authorized to do so. This material is intended for general use with the public. Lincoln does not provide investment advice, and this material is not intended to provide investment advice. Lincoln has financial interests that are served by the sale of Lincoln programs, products, and services. Plan statistics and demographics OF Executive summary: Assets LUCE-001 Total plan assets Total plan expense account balance Total forfeiture account balance Average account balance Total employee rollovers amount Total employee contribution amount Total employer contribution amount Total plan assets LUCE-001 $25.8M $791 $9 $55,100 $52,609 $370,328 $87,693 LUCE-001 $24,825,427 $24,718,343 (-0.4❑/❑) Total $24,825,427 $24,718,343 (-0.4❑/o) $25,285,319 (+2.3❑ ) $25,285,319 (+2.3%) $26,156,823 (+3.4❑/0) $26,156,823 (+&4❑/0) Total $25.8M $791 $9 $55,100 $52,609 $370,328 $87,693 Lincoln Financial $25,786,995 (-1.4❑ ) $25,786,995 (-1.4❑/❑) LCN-6402119-021424 Plan sponsor use only. © Lincoln Financial Executive summary: Participant engagement LUCE-001 Participation rate 25.6% Total participants with a balance 468 Active/Eligible participants with a 355 balance Beneficiary designation rate 58.0% Average deferral rate &8% Average pre-tax deferral rate &1 % Average roth deferral rate 8.3% Total participants with a balance by quarter 0 LUCE-001 Participation rate 191101190161 458 455 (-0.7%) 460 (+1.1 %) 454 (+0.9%) 458 (+0.9%) Lincoln Financial LCN-6402119-021424 Plan sponsor use only. © Lincoln Financial Executive summary: Plan participation LUCE-001 Participation rate Roth participation rate Average deferral rate: 8.8% 25.6% 1 ■4% Pre-tax: 8.1% Roth: 8.3% 24.3% 2024 Active contributors Eligible contributors ■ Participation rate Participation rate by year 25.4% 2025 25.6% 2026 Participation by age group 457B Lnncnln Average deferral amount: $179 Pre-tax: $187 Roth: $105 Participation by deferral rate 14 11 7 7 8 4 5 2% 3% 4% 5% 6% 7% 8% 9% 10% >10% <20 20-29 30-39 40-49 50-59 60-69 70+ Active contributors 2 17 47 78 109 64 8 Eligible contributors 6 187 228 277 325 220 25 Participation rate 33.3% 9.1% 20.6% 28.2% 33.5% 29.1% 32.0% LCN-6402119-021424 Plan sponsor use only. ® Lincoln Financial Executive summary: Plan stats LUCE-001 457B Total plan assets $24,825,427 $24,718,343 Total participants with a balance 458 455 Average account balance $54,204 $54,326 Median account balance $11,616 $12,702 Outstanding loan balance $319,109 $343,118 Number of outstanding loans 76 77 Active contributors 303 313 Total contribution amount $444,418 $366,411 Total termed participants with a balance 120 114 Total distribAonlwithdrawal amount $619,405 $2,231,388 Number of distributionslwithdrawals 29 30 ■ Average balance ■ Median balance $1,851 ¢20 $1,851 E $2,429 20-29 1 $1,580 - 512,296 30-39 - $5,463 532,025 40-49 - $11,232 $60,702 50-59 $21,045 $71,517 60-6s $31,302 $116,644 70+ $43,779 LCN-6402119-021424 Plan sponsor use only. $25,285,319 46❑ $54,968 $13,414 $322,228 78 307 $452,800 117 $971,459 37 Total distributions#j 37 36 29 30 $26,156,823 464 $56,372 $13,699 $325,894 74 317 $444,323 117 $227,141 36 37 Lincoln Financial $25,786,995 468 $55,100 $13,706 $279,934 71 325 $458,021 112 $443,486 37 Loans initiated M. 9 9 7 2 1 Q25 2Q25 3Q25 4Q25 1 Q25 1 Q25 2Q25 3Q25 4Q25 1 Q26 D Lincoln Financial Location reporting LUCE-001 457B Lincoln Financial SAINT LUCIE COUNTY BOARD OF COUNTY 25.3% 878 222 9.1% 8.2% 10.2% 1.5% ❑.0% 16.2% 29.8% SAINT LUCIE COUNTY CLERKS OFFICE 27.1% 166 45 7.3% 7.2% 3.8% 2.4% ❑.0% 19.9% 41.0% SAINT LUCIE COUNTY PROPERTY APPRAIS 45.3% 64 29 8.0% 7.5% 1.0% 1.6% ❑.0% 40.6% 53.1 % SAINT LUCIE COUNTY TAX COLLECTOR 18.1 % 160 29 8.0% 8.0% ❑. % 0.0% ❑.0% 6.3% 21.9% LCN-6402119-021424 Plan sponsor use only. © Lincoln Financial Plan review: Distributions and loans LUCE-001 457B 9 Lincoln FinarKial' ■ Distribution assets ■ Distribution participants = 0 1 Q25 2Q25 3Q25 4Q25 1 Q26 Hardship/Unforeseen withdrawals assets $0 $0 $3,404 $2,889 $0 Hardship/Unforeseen withdrawals participants 0 0 1 1 0 Inservice withdrawals assets $3,054 $22,075 $16,143 $22,333 $2,835 Inservicewithdrawals participants 1 3 4 3 2 Required minimum distribution assets $17,699 $24,664 $14,856 $42,574 $31,560 Required minimum distribution participants 6 4 3 15 8 Termination/Separation of service assets $533,068 $2,184,648 $828,388 $124,713 $404,954 Termination/Separation of service participants 20 23 27 16 23 1 Q25 2Q25 3Q25 4Q25 1 Q26 # of loans defauLted 2 2 0 3 2 # of loans initiated 2 6 9 9 7 # of loans outstanding 83 86 84 83 82 # of loans paid off 2 3 8 22 8 Average loan balance $4,052 $4,208 $4,047 $4,594 $4,528 Outstanding loan balance as % of assets 1.3% 1.4% 1.3% 1.2% 1.1 % Total outsta nd i ng Loan balance $336,331 $361,927 $339,937 $381,312 $371,297 LCN-6402119-621424 Plan sponsor use only. ® Lincoln Financial Plan review: Funds Investment summary 1 Q25 $11,729,261 1 Q26 $12,224,960 VTWNX VNGRD TRGT RTRMT 2D2D VTTVX VNGRD TRGT RTRMT 2D25 VTTSX VNGRD TRGT RTRMT 2060 VTTHX VNGRD TRGT RTRMT 2035 VTSAX VNGRD TTLSTCK MRKT IN DX VTIVX VNGRD TRGT RTRMT 2D45 VTINX VNGRD TRGT RTRMT INCM LUCE-001 457B $6,049,468 $7,009,454 1Q25 Participants $574,425 69 $1,855,931 109 $388,827 $35,329 $179,564 $79,074 $3,605,450 $173,170 $179,283 22 5 25 11 106 19 22 Lincoln Financial" $6,718,682 $24,497,411 $6,210, 746 $25,445,160 7Q26 % 2.3% $4,418,228 129 17.4% 7.6% $1,850,978 100 7.3% 1.6% ' $207,507 19 0.8% 0.1 % $58,424 5 0.2% 0.7% $258,392 29 1.0% 0.3% $161,630 19 0.6% 14.7% $3,899,875 101 15.3% 0.7% $263,034 23 1.1 % 0.7% $114,163 20 0.4% VTIAX VTHRX VSVNX VSMGX VNGRD TTL INTLSTCK INDX VNGRD TRGT RTRMT 2030 VNGRD TRGT RTRMT 2070 VNGRD LIFESTRATEGY MOD GRWTH $951,333 $1,605,432 $52,047 $858,704 80 78 4 34 3.9% 6.6% 0.2% 3.5% $963,640 $1,522,765 $114,599 $988,780 VSMAX VNGRD SMCP INDX $211,151 34 0.9% $273,516 VSCGX VNGRD LIFESTRATEGY CNSRV GRWTH $142,775 6 0.6% $109,428 VLXVX VNGRD TRGT RTRMT 2065 $4,458 4 0.0% $8,758 VIMAX VNGRD MIDCP INDX $1,756,769 97 7.2% $1,817,821 VGSLX VNGRD REAL ESTAT INDX $250,566 62 1.0% $197,836 VFORX VNGRD TRGT RTRMT 2040 $1,532,404 73 6.3% $1,952,221 VFIFX VNGRD TRGT RTRMT 2050 $620,495 50 2.5% $793,978 VFFVX VNGRD TRGT RTRMT 2055 $19,208 11 0.1% $77,883 VBTLX VNGRD TTL BOND MRKT INDX $1,278,278 67 5.2% $913,998 VASIX VNGRD LIFESTRATEGY INCM $20,920 3 0.1 % $21,469 VASGX VNGRD LIFESTRATEGY GRWTH $157,777 16 0.6% $236,223 SMBYX CLRBRDGE MIDCP $15,839 7 0.1 % RERGX AMERICAN FUNDS EUPAC FUND MSOOX MASS MTLSMCP OPP MLRSX NYLI WINSLW LRGCP GRWTH HMCRX HARBOR MIDCP GSIYX GLD SC GQG PRTNR INTLOPP $1,050,666 91 $133,801 21 $1,897,754 73 4.3% 0.5% 7.7% $106,430 $1,923,828 $15,586 $1,150,960 80 3.9% 78 6.4% 8 0.5% 35 3.9% 36 1.1% 5 0.4% 6 0.0% 94 7.1 % 60 0.8% 75 7.7% 47 3.1 % 15 0.3% 61 3.6% 3 0.1 % 17 0.9% 19 0.4% 73 7.6% 5 0.1 % 82 4.5% LCN-6402119-021424 Plan sponsor use only. 0 Lincoln Financial Plan review: Funds DDXIX DDDG CX INCM DDDIX DDDG CX INCM DFIVX DFAINTLVALl1E 03077K446 CLMBATRST HIGH QLTY INCM LUCE-00 $0 $3,664,797 1 457B L�ncnln 1 Q25 1 Q26 Participants /Participants I 90 4.9% $878,521 80 3.5% 0 133 0.0% $4,390 6 0.0% 15.0% LCN-6402119-021424 Plan sponsor use only. ® Lincoln Financial Plan review: Target date funds LUCE-001 457B Lincoln Financial $596539554 Retirement Income $ $114,163 Participants 20 2020 $207,507 19 2025 $58,424 5 2'1.9% 2030 $1,622,765 78 318 57.5% 2035 2040 2045 2050 2055 2060 2065 2070 $161,830 $1,952,221 $283,034 $793,978 $77,883 $258,392 $8,758 $114,599 19 75 23 47 15 29 6 8 LCN-6402119-021424 Plan sponsor use only. © Lincoln Financial p Aw LC N-6402119-021424 St. Lucie County 457(b) Plan 2026 Communication and Education Calendar Lincoln Onsite 1:1 meetings: 1/8, Lincoln Onsite 1:1 meetings: 4/22, Lincoln Onsite 1:1 meetings: 8/19, Lincoln Onsite 1:1 meetings: 10/14, 2/4, 3/12 5/20, 6/12, 7/22 - Benefits Fair 9/9 11/12 Health Wellness & Safety Fair: 7/22 Webinars 1/7 — Understanding Roth Contributions 3/25 —Your Lincoln Online Experience Asset Consolidation* Educate participants about consolidation options Save More* Encourage participants contributing 15% or less to contribute more Beneficiary Prompt participants to review and update their beneficiaries, if needed Webinars 5/13 — Understanding Roth Contributions Web Registration and e-Delivery* Encourage ppts to register and log in to review communication preferences Webinars 7/8 — Social Security 9/16 — It's Time to get Real Financial Wellness Present WellnessPATH® features, functionality and product launches ongoing Webinars 11/18 — Financial Wellness National Retirement Security Month* Remind participants about the importance of saving for retirement Milestones e-Newsletter Educate participants during all stage of their retirement journey and encourage positive actions quarterly Welcome Email Welcome new participants and provide resources to manage their accounts to participants who enrolled during the previous 3 months Annual Review Remind participants to meet one-on-one with their Lincoln representative for help with their unique goal sent on birthday For Plan Sponsor Use Only 9)2020 Lincoln National Corporation LCN-3360978-120820 Retirement Consultant Activity Summary ST. LUCIE CO BOARD OF CO COMMISSION 2 1:1 Meetings Group Meeting 0 5 10 15 20 25 01/01/2026 - 03/31/2026 11 11 10 ■ Account Review 9 Contribution Increase 8 $ Enrollment Managed Accounts Path 2 Retirement Roth Discussion Topic % of 1:1s Account Review 55% Contribution Increase 55% Path 2 Retirement 50% Plan review: Website utilization LUCE-001 457B 295 (83.1 %) Active Participants Web Registration 207 (58.3%) Participants with Beneficiary 353 (99.4%) Active Participants with an Email Address 46 (15.6%) Participants with Enabled Biometrics 65 (20.2%) Participants Using Participants Auto Increase (PAI) 18 (11.8%) Participants that Made an Online Contribution Change 5 (10.0%) Average Deferral of Online Enrollment Total logi ns Unique logins Online contrlb change events Unique participants that made an online contribution change Top 3 Links/pages clicked 1Q Top 1 page clicked: Contributions 200 Top 2 page clicked: My Target 190 Top 3 page clicked: My Investments 163 Lincoln Financial 661 127 18 15 LCN-6402119-021424 Plan sponsor use only. © Lincoln Financial Plan review: Call Center Call count by year 365 2024 Top call types GENERAL- STATUS OF REQUEST LOAN - INQUIRY ON CURRENT LOAN LUCE-001 466 2025 457B 12 119 2026 Lincoln Financial LCN-6402119-021424 Plan sponsor use only. © Lincoln Financial a Lincoln Financial'" Lincoln Financials' LCN-6402119-021424 Plan sponsor use only. © Lincoln Financial Appendix Appendix Total plan assets Total participants with a balance Total eligible participants Active/Eligible participants with a balance Total eligible participants not contributing Average account balance Total plan expense account balance Median account balance Outstanding loan balance Number of outstanding loans Total forfeiture account balance Participation rate Active contributors Total contribution amount # of participants with roth deferral Average deferral rate Average pre-tax deferral rate Average pre-tax deferral amount Average roth deferral rate Total employee pre-tax contribution amount Total employee roth contribution amount Total employee after-tax contribution amount Total employee rollovers amount Total employee contribution amount Total employer contribution amount Employer discretionary contributions Employer othercontribution amount Participants after-tax deferral rate # of participants with after-tax deferral Term ination/Be paration of service participants Term ination/Se paration of service assets Total distribution/with drawaI amount Number of distributianslwithdrawaIs Required minimum distribution assets Other distribution # of participants Other distribution assets • Beneficiary designation rate LUCE-001 Plan ID 1Q 2Q 3Q 4Q 1Q $24,825,427 $24,718,343 $25,285,319 $26,156,823 $25,786,995 458 455 460 464 468 1,237 1,248 1,248 1,260 1,268 336 338 341 346 355 934 935 941 943 943 $54,204 $54,326 $54,968 $56,372 $55,100 $772 $777 $782 $787 $791 $11, 616 $12, 702 $13,414 $13, 699 $13,706 $319,109 $343,118 $322,228 $325,894 $279,934 76 77 78 74 71 $9 $9 $9 $9 99 24.5% 25.1°% 24.6°% 25.2% 25.6°% 303 313 307 317 325 $444,418 $366,411 $452,800 $444,323 $458,021 51 54 64 76 84 7.7% 7.1 % 8.1 °% 8.4% 8.8°% 7.4°% 6.8% 7.3°% 7.7°% 8.1 °% $169 $171 $167 $173 $187 6.6°% 6.5% 8.3°% 8.3°% 8.3°% $3.47,806 $276,719 $327,328 $305,886 $320,653 $25,574 $29,863 $37,665 $48,701 $49,675 $0 $0 $0 $0 $0 S175,885 $72,136 $0 $182, 303 $52,609 5373,379 $306,582 $364,993 $354,587 $370,328 $71,039 $59,823 $87,807 $89,736 $37,693 $71,039 $59,828 $87,807 $89,736 $37,693 $0 $0 $0 $0 SO 0.0°% 0.0% 0.❑°% 0.0°% 0.❑°% 0 ❑ 0 0 ❑ 20 23 27 16 23 5533,068 $2,134,648 $828,388 $124,713 $404,954 5619,405 $2,231,388 $971,459 $227,141 $443,486 29 30 37 36 37 $17,699 $24,664 $14,856 $42,574 $31,560 2 ❑ 2 1 4 $65,584 $0 $108,667 $34,633 $4,138 48.0°% 49.0°% 52.0°% 55.0°% 58.0°% Appendix Plan ID LUCE-001 Total plan assets Average account balance Total plan expense account balance Median account balance Outstanding loan balance Total forfeiture account balance Total eligible participants Participation rate Total contribution amount Average deferral rate Average pre-tax deferral rate Average pre-tax deferral amount Total employee pre-tax contribution amount Total employee roth contribution amount Total employee after-tax contribution amount Total employee rollovers amount Total employee contribution amount Total employer contribution amount Employer discretionary contributions Employer othercontribution amount Participants after-tax deferral rate Total distribut! on/with drawaI amount Required minimum distribution assets Other distribution # of participants Other distribution assets Termination/Separation of service participants Termination/Separation of service assets ■ Beneficiary designation rate $0 $102,472,468 $100,985,912 $25,786,995 $0 $231,756 $219,871 $55,100 $0 $3,037 $3,117 $791 $0 $13,058 $12,858 $13,706 $0 $1,309,274 $1,310,350 $279,934 $0 $34 $35 $9 0 4,883 4,993 1,268 0.095 93.0°% 99.3°% 25.6% s0 $1,386,031 $1,707,952 $458,021 0.0% 8.❑% 7.8°% 8.8°% 0.0% 7.0°% 7.3°% 8.1 °% $0 $157 $170 $187 30 $1,079,125 $1, 257, 738 $320, 653 so $65,225 $141, 803 $49, 675 SO $0 $0 $0 SO $56,418 $430,324 $52,609 SO $1,144,350 $1,399,541 $370,328 SO $241,681 $308,411 587,693 SO $241,681 $308,411 $87,693 $0 $0 $0 $0 0.0% 0.❑°% 0.0°% 0.0°% SO $3,975,827 $4,049,393 $443,486 SO $107,956 $99,793 531,560 0 3 5 4 SO $319,947 $208,884 $4,138 ❑ 97 86 23 $0 $2,807,373 $3,670,817 $404,954 0.0% 37.8°% 51.0% 58.0% Disclosures The LifeSpanSM Asset Allocation Portfolios are designed for investors planning to retire or to start withdrawing their money close to the year indicated in the name of the fund. The manager invests each LifeSpanSM Asset Allocation Portfolio in accordance with an asset allocation between stocks (equity) and bonds (fixed income), which will become more conservative over time as the target maturity date draws closer and, following that date, as the investor moves further into retirement. In addition, the manager provides a conservative, moderate, and aggressive portfolio for each target maturity date to account for participants' risk tolerance. Mutual funds in the Lincoln Alliance® program are sold by prospectus. An investor should consider carefully the investment objectives, risks, and charges and expenses of the investment company before investing. The prospectus and, if available, the summary prospectus contain this and other important information and should be read carefully before investing or sending money. I nvestment values will fluctuate with changes in market conditions so that, upon withdrawal, your investment may be worth more or less than the amount originally invested. For a prospectus, please contact your Lincoln representative. The program includes certain services provided by Lincoln Retirement Services Company, LLC and Lincoln Financial Group Trust Company, Inc. with wholesale marketing and distribution services provided by Lincoln Financial Distributors, Inc. (LFD), a wholesale broker -dealer (member FIN RA). All entities Listed are affiliates of Lincoln Financial, the marketing name for Lincoln National Corporation. Unaffiliated broker -dealers also may provide services to customers. Account values are subject to fluctuation, including loss of princi pal. The Lincoln Stable Value Account is a fixed annuity issued by The Lincoln National Life Insurance Company, FortWayne, IN. The Lincoln National Life Insurance Company does not solicit business in the state of New York, nor is it authorized to do so. Contractual obligations are subject to the claims -paying ability of The Lincoln National Life Insurance Company. For contracts issued in New York, the Lincoln Stable Value Account is a fixed annuity issued by Lincoln Life & Annuity Company of New York, Syracuse, NY. Asset allocation portfolios are designed for investors planning to retire or to start withdrawing their money close to the year indicated in the name of the fund. The manager invests each asset allocation portfolio in accordance with an asset allocation between stocks (equity) and bonds (fixed income), which will become more conservative over time as the target maturity date draws closer and, following that date, as the investor moves further into retirement. Asset allocation portfolios' mixtures of investments are designed to reduce the volatility of investment returns while still providing the potential for higher long-term total returns that are more likelyto be achieved by including some exposure to stocks. The principaLvalue of the asset allocation portfolios.. 28645, 28883, 30070-13, and state variations) are issued by The Lincoln National Life Insurance Company, Fort Wayne, IN, and distributed by Lincoln Financial Distributors, Inc., a broker -dealer. Contractual obligations are subject to the claims -paying ability of The Lincoln National Life Insurance Company. Product and features subject to state availability. Limitations and exclusions may apply. You rPathl conservative, moderate, aggressive, and lifetime income portfolios are target -date + risk portfolios available as investment options in the Lincoln Alliance® program. Lincoln Path Builder Income® powered byYourPath® solution consists of YourPath® portfolios along with a guarantee. Lincoln PathBuilder Income® group contingent deferred annuity contract (contract farm AN-745 and state variations) is issued by The Lincoln National Life Insurance Company, Fort Wayne, IN, and distributed by Lincoln Financial Distributors, Inc., a broker -dealer. Limitations and exclusions may apply. May not be available in all states. Check with your Lincoln representative. The Lincoln National Life Insurance Company does not solicit business in the state of New York, nor is it authorized to do so. The guarantee is provided by a contract between the client/plan sponsor and The Lincoln National Life Insurance Company that provides plan participant with guaranteed annual retirement income. All contract guarantees, includingthose for guaranteed income, are subjectto the claims -paying ability of the issuing insurance company. They are not backed by the broker -dealer or insurance agency from which this annuity is purchased, or any affiliates of those entities other than the issuing company affiliates, and none makes any representations or guarantees regarding the claims -paying ability of the issuer. There is no additional tax -deferral benefit for an annuity contract purchased in an IRA or other tax -qualified plan. YourPath® portfolios are available as investment options in the Lincoln Alliance® program. The information provided is for plan administrative purposes only and should.. Not a deposit Not FIDIC-insured May go down in value Not insured by any federal government agency Not guaranteed by any bank or savings association Lincoln Financial Group is the marketing name for Lincoln National Corporation and its affiliates. Affiliates are separate Ly responsible for their own financial and contractual obligations. Order code: DC-APR-PPT003 6/23 Z01 Lincoln Fine ncial.com/Reti rementPlans LCN-6402119-021424 Plan sponsor use only. V Lincoln Financial