|
FEES AND EXPENSES |
Location in
Prospectus |
Charges for Early
Withdrawals |
The surrender charges applicable to your Contract depend on the version of the Contract
that you own. The surrender charge is imposed on the gross withdrawal amount. •GVA I contract. If you withdraw money during the first
may be assessed a surrender charge of up to
to 0% over that time period. •GVA II contract. If you withdraw money during the first
may be assessed a surrender charge of up to
declining to 0% over that time period. •GVA III contract. There is |
•Fee Tables •Examples •Charges and
Other
Deductions –
Surrender
Charge |
Transaction
Charges |
•A one-time fee of up to $30 will be charged to set up the Systematic Withdrawal
Option. •If you participate in a tax deferred retirement plan that allows Participant loans, you
may be eligible to take a loan against your Contract Value. The outstanding amount of
the loan is subject to loan interest and a loan maintenance fee. |
•Fee Tables •Charges and
Other
Deductions |
Ongoing Fees and
Expenses (annual
charges) |
Minimum and Maximum Annual Fee Table. The table below describes the fees and
expenses that you may pay each year, depending on the options you choose. Please
refer to your contract specifications page for information about the specific fees you will
pay each year based on the options you have elected. |
•Fee Tables •Examples •Charges and
Other
Deductions | ||
Annual Fee |
Minimum |
Maximum | ||
Base Contract (varies by Contract) |
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Investment options (fund fees and
expenses) |
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Lowest and Highest Annual Cost Table. Because your Contract is customizable, the
choices you make affect how much you will pay. To help you understand the cost of
owning your Contract, the following table shows the lowest and highest cost you could
pay each year. This estimate assumes that you do not take withdrawals from the
Contract, which could add surrender charges that substantially increase costs. | ||||
Lowest Annual Cost: $ |
Highest Annual Cost: $ | |||
Assumes: |
Assumes: | |||
•Investment of $100,000 •5% annual appreciation •Least expensive fund fees and
expenses •No surrender charges •No additional Purchase Payments,
transfers, or withdrawals |
•Investment of $100,000 •5% annual appreciation •Most expensive fund fees and expenses •No surrender charges •No additional Purchase Payments,
transfers, or withdrawals |
|
RISKS |
Location in
Prospectus | ||
Risk of Loss |
• |
•Principal Risks •Investments of
the Variable
Annuity
Account |
|
RISKS |
Location in
Prospectus |
Not a Short-Term
Investment |
|
•Principal Risks •Withdrawals •Fee Tables | ||
Risks Associated
with Investment
Options |
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•Principal Risks •Investments in
the Variable
Annuity | ||
Insurance
Company Risks |
•
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•Principal Risks |
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RESTRICTIONS |
Location in
Prospectus | ||
Investments |
|
•Principal Risks •Investments of
the Variable
Annuity
Account •Transfers On
and Before the
Annuity
Commence-
ment Date | ||
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TAXES |
Location in
Prospectus | ||
Tax Implications |
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•Federal Tax
Matters | ||
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CONFLICTS OF INTEREST |
Location in
Prospectus | ||
Investment
Professional
Compensation |
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•Distribution of
the Contracts •Principal Risks |
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CONFLICTS OF INTEREST |
Location in
Prospectus | ||
Exchanges |
•
|
•Replacement
of Existing
Insurance |
GVA I |
GVA II |
GVA III |
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Administrative Expense (Annual Account Fee):1 |
$ |
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Base Contract Expenses (as a percentage of average Account Value in the Subaccounts) |
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Mortality and Expense Risk Charge |
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Loan Maintenance Fee (as a percentage of amount of loans) |
3.00% |
Annual Fund Expenses |
Minimum |
Maximum |
|
% |
% |
Expenses that are deducted from the fund assets, including
management fees, distribution and/or service (12b-1) fees, and other
expenses after any waivers or expense reimbursements.1 |
0.23
% |
1.17
% |
|
1 year |
3 years |
5 years |
10 years |
GVA I |
$ |
$ |
$ |
$ |
GVA II |
$ |
$ |
$ |
$ |
GVA III |
$ |
$ |
$ |
$ |
|
1 year |
3 years |
5 years |
10 years |
GVA I |
$ |
$ |
$ |
$ |
GVA II |
$ |
$ |
$ |
$ |
GVA III |
$ |
$ |
$ |
$ |
During Participation Year |
GVA I |
GVA II
ERISA |
GVA II
Non-ERISA |
1-5 |
5
% |
6
% |
6
% |
6 |
5
% |
3
% |
6
% |
7 |
4
% |
3
% |
6
% |
8 |
3
% |
3
% |
6
% |
9 |
2
% |
3
% |
6
% |
10 |
1
% |
3
% |
6
% |
11-15 |
0
% |
1
% |
6
% |
16 |
0
% |
0
% |
6
% |
Year Request Received by LNY |
Percentage of Fixed
Account Available
Under GVA III |
1 |
20
% |
2 |
25
% |
3 |
33.33
% |
4 |
50
% |
5 |
100
% |
|
Standard conditions |
Optional conditions |
GVA I |
the Participant has attained age 59½ |
the Participant has separated from service with their
employer and is at least 55 years of age |
|
the Participant has died |
the Participant is experiencing financial hardship |
|
the Participant has incurred a disability (as defined
under the Contract) |
|
|
the Participant has separated from service with their
employer |
|
GVA II |
the Participant has attained age 59½ |
the Participant has separated from service with their
employer |
|
the Participant has died |
the Participant is experiencing financial hardship |
|
the Participant has incurred a disability (as defined
under the Contract) |
|
|
the Participant has separated from service with their
employer and is at least 55 years of age |
|
GVA III |
the Participant has attained age 59½ |
the Participant has separated from service with their
employer and is at least 55 years of age |
|
the Participant has died |
|
|
the Participant has incurred a disability (as defined
under the Contract) |
|
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the Participant has separated from service with their
employer |
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the Participant is experiencing financial hardship* |
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Mortality and expense risk charge |
1.00
% |
Standard Benefits | |||
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Maximum Fee |
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Optional Benefits | |||
Name of Benefit |
Purpose |
Maximum Fee |
Brief Description of Restrictions /
Limitations |
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•Annual loan
maintenance fee of
3.00% (as a
percentage of loan
amount). |
•
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Fund and
Adviser/Sub-adviser1 |
Current Expenses |
Average Annual Total
Returns (as of 12/31/2023) | ||
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1 year |
5 year |
10 year |
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advised by
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advised by |
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advised by
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Investment Objective |
Fund and
Adviser/Sub-adviser1 |
Current Expenses |
Average Annual Total
Returns (as of 12/31/2023) | ||
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5 year |
10 year |
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N/A |
N/A |
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N/A |
N/A |
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(formerly American Century VP
Balanced Fund)
advised by
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advised by
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advised by
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N/A |
N/A |
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advised by
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Investment Objective |
Fund and
Adviser/Sub-adviser1 |
Current Expenses |
Average Annual Total
Returns (as of 12/31/2023) | ||
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1 year |
5 year |
10 year |
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advised by
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advised by
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advised by
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advised by
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advised by
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advised by
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advised by
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advised by
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advised by
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advised by
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Investment Objective |
Fund and
Adviser/Sub-adviser1 |
Current Expenses |
Average Annual Total
Returns (as of 12/31/2023) | ||
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1 year |
5 year |
10 year |
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advised by
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(formerly LVIP Delaware Bond Fund)
advised by
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(formerly LVIP Delaware Diversified
Floating Rate Fund)
advised by
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(formerly LVIP Delaware Diversified
Income Fund)
advised by
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(formerly LVIP Delaware High Yield
Fund)
advised by
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(formerly LVIP Delaware SMID Cap Core
Fund)
advised by
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(formerly LVIP Delaware Social
Awareness Fund)
advised by
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(formerly LVIP Delaware U.S. REIT
Fund)
advised by
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Investment Objective |
Fund and
Adviser/Sub-adviser1 |
Current Expenses |
Average Annual Total
Returns (as of 12/31/2023) | ||
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1 year |
5 year |
10 year |
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(formerly LVIP Delaware Wealth Builder
Fund)
advised by
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advised by
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advised by
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advised by
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advised by
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advised by
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advised by
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N/A |
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advised by
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advised by
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advised by
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Investment Objective |
Fund and
Adviser/Sub-adviser1 |
Current Expenses |
Average Annual Total
Returns (as of 12/31/2023) | ||
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1 year |
5 year |
10 year |
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advised by
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advised by
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advised by
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advised by
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N/A |
N/A |
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advised by
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(formerly Delaware VIP® Small Cap
Value Series)
advised by
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Contents
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Page
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B-2
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B-2
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B-2
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B-3
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B-3
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B-3
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B-4
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B-5
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B-5
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Contents
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Page
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B-5
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B-6
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B-6
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B-6
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B-7
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B-7
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B-7
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B-8
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Name
|
Positions and Offices with Depositor
|
Jayson R. Bronchetti*
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Executive Vice President, Chief Investment Officer and Director
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Adam M. Cohen*
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Senior Vice President, Chief Accounting Officer and Treasurer
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Ellen G. Cooper*
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President and Director
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Stephen B. Harris*
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Senior Vice President and Chief Ethics and Compliance Officer
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Mark E. Konen
4901 Avenue G
Austin, TX 78751
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Director
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M. Leanne Lachman
870 United Nations, Plaza, #19-E
New York, NY 10017
|
Director
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Dale LeFebvre
2710 Foxhall Road NW
Washington, DC 20007
|
Director
|
Louis G. Marcoccia
Senior Vice President
Syracuse University
Crouse-Hinds Hall, Suite 620
900 S. Crouse Ave.
Syracuse, NY 13244
|
Director
|
Christopher M. Neczypor*
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Executive Vice President, Chief Financial Officer and Director
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Nancy A. Smith*
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Secretary
|
Joseph D. Spada**
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Vice President and Chief Compliance Officer for Separate Accounts
|
Name
|
Positions and Offices with Underwriter
|
Adam M. Cohen*
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Senior Vice President and Treasurer
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Jason M. Gibson**
|
Vice President and Chief Compliance Officer
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Claire H. Hanna*
|
Secretary
|
John C. Kennedy*
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President, Chief Executive Officer and Director
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Jared M. Nepa*
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Senior Vice President and Director
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Thomas P. O'Neill*
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Senior Vice President, Chief Operating Officer and Head of Financial
Institutions Group
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Timothy J. Seifert Sr*
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Senior Vice President and Director
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SIGNATURES
(a) | As required by the Securities Act of 1933 and the Investment Company Act of 1940, each Registrant certifies that it meets the requirements of Securities Act Rule 485(b) for effectiveness of this registration statement and has caused this Post-Effective Amendment to the registration statement to be signed on its behalf, in the City of Fort Wayne, and the State of Indiana on this 2nd day of April, 2024 at 3:10 pm. |
Lincoln Life & Annuity Variable Annuity Account L
(Registrant)
By: | /s/ John D. Weber | ||
John D. Weber | |||
Vice President, Lincoln Life & Annuity Company of New York |
Signed on its behalf, in the City of Hartford, and the State of Connecticut on this 2nd day of April, 2024 at 11:49 am.
Lincoln Life & Annuity Company of New York
(Depositor)
By: | /s/ Matthew L. Condos | ||
Matthew L. Condos | |||
(Signature-Officer of Depositor) | |||
Senior Vice President, The Lincoln National Life Insurance Company |
Lincoln Life & Annuity Variable Annuity Account L (File No. 811-07785; CIK: 0001021153)
333-141755 (Amendment No. 21) |
(b) | As required by the Securities Act of 1933, these Amendments to the registration statements have been signed by the following persons in their capacities indicated on April 2, 2024 at 3:10 pm. |
(c)
Signature | Title | |
*/s/ Ellen G. Cooper | President and Director | |
Ellen G. Cooper | ||
*/s/ Christopher M. Neczypor | Executive Vice President, Chief Financial Officer, and Director | |
Christopher M. Neczypor | ||
*/s/ Jayson R. Bronchetti | Executive Vice President, Chief Investment Officer, and Director | |
Jayson R. Bronchetti | ||
*/s/ Adam M. Cohen | Senior Vice President and Chief Accounting Officer | |
Adam M. Cohen | ||
*/s/ Mark E. Konen | Director | |
Mark E. Konen | ||
*/s/ M. Leanne Lachman | Director | |
M. Leanne Lachman | ||
*/s/ Louis G. Marcoccia | Director | |
Louis G. Marcoccia | ||
* /s/ Dale LeFebvre | Director | |
Dale LeFebvre | ||
* /s/ John D. Weber, pursuant to a Power of Attorney | ||
John D. Weber |