Single Life GIB Percentage
|
Joint Life GIB Percentage
|
||
Age
|
GIB Percentage
|
Age
|
GIB Percentage
|
Under 40
|
2.50%
|
Under 40
|
2.50%
|
40-54
|
3.00%
|
40-54
|
2.75%
|
55-58
|
3.25%
|
55-58
|
3.00%
|
59-64
|
3.75%
|
59-64
|
3.50%
|
65-69
|
4.25%
|
65-69
|
4.00%
|
70-74
|
5.00%
|
70-74
|
4.25%
|
75-79
|
5.00%
|
75-79
|
4.75%
|
80+
|
5.25%
|
80+
|
5.00%
|
Item
|
Page
|
3
|
|
5
|
|
7
|
|
9
|
|
11
|
|
13
|
|
15
|
|
18
|
|
19
|
|
20
|
|
21
|
|
22
|
|
25
|
|
26
|
|
28
|
|
32
|
|
33
|
|
39
|
|
41
|
|
43
|
|
44
|
|
50
|
|
50
|
|
50
|
|
50
|
|
50
|
|
51
|
|
A-1
|
|
B-1
|
|
C-1
|
|
D-1
|
|
FEES AND EXPENSES
|
Location in
Prospectus
|
||
Charges for Early
Withdrawals
|
If you make a withdrawal in excess of the free withdrawal amount before the 9th
anniversary since your last Purchase Payment, you may be assessed a surrender charge
of up to 8.5% of the amount withdrawn, declining to 0% over that time period. For
example, if make a withdrawal of $100,000 during the first year after your Purchase
Payment, you could be assessed a charge of up to $8,500 on the Purchase Payment
withdrawn.
|
•Fee Tables
•Examples
•Charges and
Other
Deductions –
Surrender
Charge
|
||
Transaction
Charges
|
There is currently no charge for a transfer. We reserve the right to charge a $50
fee for
each transfer if you make more than 12 transfers in one Contract Year.
|
•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. These
charges do not reflect Bonus Credits or Persistency Credits. 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 – Account Value Death
Benefit
|
1.52%1
|
1.52%1
|
|
|
Base Contract – Guarantee of Principal
Death Benefit
|
1.57%1
|
1.57%1
|
|
|
Base Contract – Enhanced Guaranteed
Minimum Death Benefit
|
1.82%1
|
1.82%1
|
|
|
Investment options (fund fees and
expenses)
|
0.53%1
|
1.20%1
|
|
|
Optional benefits available for an
additional charge (for a single optional
benefit, if elected)
|
0.40%1
|
2.45%2
|
|
|
1 As a percentage of average Account Value in the Subaccounts.
|
|
||
|
2 As an annualized percentage of the Protected Income Base.
|
|
||
|
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: $2,359
|
Highest Annual Cost: $5,631
|
|
|
|
Assumes:
|
Assumes:
|
|
|
|
•Investment of $100,000
•5% annual appreciation
•Least expensive fund fees and
expenses
•No optional benefits
•No surrender charges
•No additional Purchase Payments,
transfers, or withdrawals
|
•Investment of $100,000
•5% annual appreciation
•Most expensive combination of
optional benefits, fund fees and
expenses
•No surrender charges
•No additional Purchase Payments,
transfers, or withdrawals
|
|
|
RISKS
|
Location in
Prospectus
|
||
Risk of Loss
|
•You can lose money by investing in this Contract, including loss of principal.
|
•Principal Risks
•Investments of
the Variable
Annuity
Account
|
||
Not a Short-Term
Investment
|
•This Contract is not designed for short-term investing and is not appropriate for
the
investor who needs ready access to cash.
•Withdrawals may result in surrender charges. If you take a withdrawal, any surrender
charge will reduce the value of your Contract or the amount of money that you
actually receive.
•The benefits of tax deferral, long-term income, and living benefit protections mean
the Contract is more beneficial to investors with a long-term investment horizon.
•Withdrawals are subject to ordinary income tax and may be subject to tax penalties.
|
•Principal Risks
•Surrender and
Withdrawals
•Fee Tables
•Charges and
Other
Deductions
•Living Benefit
Riders
|
||
Risks Associated
with Investment
Options
|
•An investment in this Contract is subject to the risk of poor investment performance
of the investment options you choose. Performance can vary depending on the
performance of the investment options available under the Contract.
•Each investment option (including the fixed account option) has its own unique risks.
•You should review the investment options before making an investment decision.
|
•Principal Risks
•Investments of
the Variable
Annuity
Account
|
||
Insurance
Company Risks
|
•An investment in the Contract is subject to the risks related to Lincoln New York.
Any
obligations (including under the fixed account option), guarantees, or benefits of
the
Contract are subject to our claims-paying ability. If we experience financial distress,
we may not be able to meet our obligations to you. More information about Lincoln
New York, including our financial strength ratings, is available upon request by
calling 1-800-942-5500 or visiting www.LincolnFinancial.com.
|
•Principal Risks
|
||
|
RESTRICTIONS
|
Location in
Prospectus
|
||
Investments
|
•The frequency of transfers between investment options is restricted. There are also
restrictions on the minimum amount that may be transferred from a variable option
and the maximum amount that may be transferred from the fixed account option.
•We reserve the right to charge a $50 fee for each transfer if you make more than 12
transfers in one Contract Year.
•We reserve the right to remove or substitute any funds as investment options that
are available under the Contract.
•Your ability to transfer between investment options may also be restricted as a result
of Investment Requirements if you have elected an optional benefit.
|
•Principal Risks
•Investments of
the Variable
Annuity
Account
|
||
Optional Benefits
|
•Optional benefits may limit or restrict the investment options that you may select
under the Contract. We may change these restrictions in the future.
•Optional benefit availability may vary by selling broker-dealer.
•Excess Withdrawals may reduce the value of an optional benefit by an amount
greater than the value withdrawn or result in termination of the benefit.
•You are required to have a certain level of Contract Value for some new rider
elections.
•We may modify or stop offering an optional benefit that is currently available at
any
time.
•If you elect certain optional benefits, you may be limited in the amount of Purchase
Payments that you can make (and when).
|
•The Contracts
•Living Benefit
Riders
•Appendix B –
Investment
Requirements
•Appendix C –
Discontinued
Living Benefit
Riders
|
|
TAXES
|
Location in
Prospectus
|
||
Tax Implications
|
•Consult with a tax professional to determine the tax implications of an investment
in
and payments received under this Contract.
•If you purchase the Contract through a tax-qualified plan or IRA, you do not get any
additional tax benefit under the Contract.
•Earnings on your Contract are taxed at ordinary income tax rates when you withdraw
them, and you may have to pay a penalty if you take a withdrawal before age 59½.
|
•Federal Tax
Matters
|
||
|
CONFLICTS OF INTEREST
|
Location in
Prospectus
|
||
Investment
Professional
Compensation
|
•Your registered representative may receive compensation for selling this Contract
to
you, both in the form of commissions and because we may share the revenue it
earns on this Contract with the professional’s firm. (Your investment professional
may be your broker, investment adviser, insurance agent, or someone else).
•This potential conflict of interest may influence your investment professional to
recommend this Contract over another investment.
|
•Distribution of
the Contracts
•Principal Risks
|
||
Exchanges
|
•If you already own a contract, some investment professionals may have a financial
incentive to offer you a new Contract in place of the one you own. You should only
exchange your contract if you determine, after comparing the features, fees, and
risks of both contracts, that it is better for you to purchase the new Contract rather
than continue to own your existing contract.
|
•The Contracts -
Replacement
of Existing
Insurance
|
Surrender charge (as a percentage of Purchase Payments surrendered/withdrawn):1
|
8.5%
|
Transfer charge:2
|
up to $50
|
We may also apply an Interest Adjustment to amounts being withdrawn, surrendered or
transferred from a
Guaranteed Period account (except for dollar cost averaging, cross-reinvestment, withdrawals
up to the Maximum
Annual Withdrawal amount under Lincoln SmartSecurity® Advantage and Regular Income Payments under i4LIFE®
Advantage). See Fixed Side of the Contract.
|
|
Administrative Expense (Annual Account Fee):1
|
|
$35
|
|
|
|
Base Contract Expenses (as a percentage of average Account Value in the Subaccounts)2,3
|
|
|
Account Value Death Benefit
|
|
1.50%
|
Guarantee of Principal Death Benefit
|
|
1.55%
|
Enhanced Guaranteed Minimum Death Benefit (EGMDB)
|
|
1.80%
|
Optional Benefit Expenses (Protected Lifetime Income Fees)
|
Single
Life
|
Joint
Life
|
Lincoln Lifetime IncomeSM Advantage:4
|
|
|
Guaranteed Maximum Annual Charge
|
1.50%
|
1.50%
|
Current Charge
|
0.90%
|
0.90%
|
Lincoln SmartSecurity® Advantage – 1 Year Automatic Step-up option:5
|
|
|
Guaranteed Maximum Annual Charge
|
1.50%
|
1.50%
|
Current Charge
|
0.85%
|
1.00%
|
Lincoln SmartSecurity® Advantage – 5 Year Elective Step-up option:5
|
|
|
Guaranteed Maximum Annual Charge
|
0.95%
|
N/A
|
Current Charge
|
0.85%
|
N/A
|
4LATER® Advantage:6
|
|
|
Guaranteed Maximum Annual Charge
|
1.50%
|
N/A
|
Current Charge
|
0.65%
|
N/A
|
i4LIFE® Advantage:7
|
|
|
Current Charge
|
0.40%
|
0.40%
|
|
|
|
|
|
|
i4LIFE® Advantage Select Guaranteed Income Benefit:8
|
|
|
Guaranteed Maximum Annual Charge
|
2.25%
|
2.45%
|
Current Charge
|
0.95%
|
1.15%
|
i4LIFE® Advantage Guaranteed Income Benefit (version 4):8
|
|
|
Guaranteed Maximum Annual Charge
|
2.00%
|
2.00%
|
Current Charge
|
0.65%
|
0.85%
|
i4LIFE® Advantage Guaranteed Income Benefit (versions 1, 2 and 3):9
|
|
|
Guaranteed Maximum Annual Charge
|
1.50%
|
1.50%
|
Current Charge
|
0.50%
|
0.50%
|
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 before reimbursements.
|
0.53
%
|
1.20
%
|
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
|
0.48
%
|
1.10
%
|
1 year
|
3 years
|
5 years
|
10 years
|
$14,325
|
$25,394
|
$34,759
|
$56,309
|
1 year
|
3 years
|
5 years
|
10 years
|
$5,825
|
$17,394
|
$28,759
|
$56,309
|
1 year
|
3 years
|
5 years
|
10 years
|
$13,057
|
$21,985
|
$29,812
|
$49,985
|
1 year
|
3 years
|
5 years
|
10 years
|
$4,557
|
$13,985
|
$23,812
|
$49,985
|
|
Enhanced
Guaranteed Minimum
Death Benefit (EGMDB)
|
Guarantee of
Principal Death
Benefit (GOP)
|
Account Value
Death Benefit
|
Mortality and expense risk charge
|
1.70
%
|
1.45
%
|
1.40
%
|
Administrative charge
|
0.10
%
|
0.10
%
|
0.10
%
|
Total base contract expense*
|
1.80
%
|
1.55
%
|
1.50
%
|
|
Number of contract anniversaries since
Purchase Payment was invested
|
|||||||||
|
0
|
1
|
2
|
3
|
4
|
5
|
6
|
7
|
8
|
9+
|
Surrender charge as a percentage of the
surrendered or withdrawn Purchase
Payments
|
8.50
%
|
8.50
%
|
8
%
|
7
%
|
6
%
|
5
%
|
4
%
|
3
%
|
2
%
|
0
%
|
Owner's Investment
|
Bonus Credit %
|
Less than $100,000
|
3.0
%
|
$100,000–$999,999
|
4.0
%
|
$1,000,000 or greater
|
5.0
%
|
Standard Benefits
|
|||
Name of Benefit
|
Purpose
|
Maximum Fee
|
Brief Description of Restrictions /
Limitations
|
Account Value Death
Benefit
|
Provides a Death Benefit equal to the
Contract Value.
|
•1.50%
|
•Poor investment performance could
significantly reduce the benefit.
•Withdrawals could significantly reduce
the benefit.
|
Guarantee of Principal
Death Benefit
|
Provides a Death Benefit equal to the
greatest of (1) Contract Value; (2) all
Purchase Payments, adjusted for
withdrawals.
|
•1.55%
|
•Withdrawals could significantly reduce
the benefit.
|
Standard Benefits
|
|||
Name of Benefit
|
Purpose
|
Maximum Fee
|
Brief Description of Restrictions /
Limitations
|
Enhanced Guaranteed
Minimum Death
Benefit (EGMDB)
|
Provides a Death Benefit equal to the
greatest of (1) Contract Value; (2) all
Purchase Payments, adjusted for
withdrawals; (3) the highest Contract Value
on any contract anniversary prior to age 81
as adjusted for withdrawals.
|
•1.80%
|
•Not available if age 80 or older at the
time of issuance.
•Withdrawals could significantly reduce
the benefit.
•Poor investment performance could
significantly reduce and limit potential
increases to the highest Contract Value.
|
Dollar-Cost Averaging
|
Allows you to automatically transfer
amounts between certain investment
options on a monthly basis.
|
None
|
•Minimum amount to be dollar cost
averaged is $1,500 over any time period
between 3 and 60 months.
•Cannot be used simultaneously with
portfolio rebalancing or cross
reinvestment.
|
Portfolio Rebalancing
|
Allows you to automatically reallocate your
Contract Value among investment options
on a periodic basis based on your standing
allocation instructions.
|
None
|
•Cannot be used simultaneously with
dollar cost averaging or cross
reinvestment.
|
Cross-Reinvestment
|
When the amount invested in an investment
option exceeds a baseline amount, allows
you to automatically transfer the excess
amount to another investment option.
|
None
|
•Cannot be used simultaneously with
dollar cost averaging or portfolio
rebalancing.
|
Automatic Withdrawal
Service
|
Allows you to take periodic withdrawals
from your Contract automatically.
|
None
|
•Automatically terminates once i4LIFE®
Advantage begins.
|
Optional Benefits – Available for Election
|
|||
Name of Benefit
|
Purpose
|
Maximum Fee
|
Brief Description of Restrictions /
Limitations
|
i4LIFE® Advantage
|
Provides:
•Variable periodic Regular Income
Payments for life.
•The ability to make additional
withdrawals and surrender the Contract
during the Access Period.
|
•i4LIFE® Advantage:
0.40% in addition to
the base contract
expense for the
Death Benefit you
have elected.
|
•Withdrawals could significantly reduce or
terminate the benefit.
•Restrictions apply to the length of the
Access Period.
•Additional Purchase Payments may be
subject to restrictions.
|
Optional Benefits – No Longer Available for Election1
|
|||
Name of Benefit
|
Purpose
|
Maximum Fee
|
Brief Description of Restrictions /
Limitations
|
Lincoln Lifetime
IncomeSM Advantage
|
Provides:
•Guaranteed lifetime periodic withdrawals
for you and any joint life regardless of
investment performance.
•Includes step-up and enhancement
features that may result in a higher
guaranteed minimum at certain points in
time.
|
•1.50%
(as a percentage of
Protected Income
Base)
|
•Investment Requirements apply.
•Subject to a $10 million maximum
across all Living Benefit Riders.
•Must be at least age 59 (single life
option) or age 65 (joint life option) to
begin taking guaranteed withdrawals.
•Excess and early withdrawals may
significantly reduce or terminate the
benefit.
•Any withdrawal may negatively impact or
eliminate the potential for enhancements
or step-ups.
•Purchase Payments and step-ups may
increase fee rate.
•Purchase Payments subject to additional
restrictions.
|
Optional Benefits – No Longer Available for Election1
|
|||
Name of Benefit
|
Purpose
|
Maximum Fee
|
Brief Description of Restrictions /
Limitations
|
Lincoln
SmartSecurity®
Advantage
|
Provides:
•A minimum guaranteed amount that you
can withdraw, in installments, from your
Contract. Lifetime periodic withdrawals
may also be available if certain
conditions are met.
|
•1.50%
(as an annualized
percentage of the
Guaranteed
Amount)
|
•Withdrawals could significantly reduce or
terminate the benefit.
•Investment Requirements apply.
•Subject to a $10 million maximum
across all Living Benefit Riders.
•Additional Purchase Payments may be
limited.
•A step-up of the Guaranteed Amount
may increase the fee rate.
|
4LATER® Advantage
|
•Establishes a benefit base used to
calculate a guaranteed income benefit
under i4LIFE® Advantage when you are
ready to elect it.
•The benefit base has the potential for
enhancements and resets. Guaranteed
income benefit after election of i4LIFE®
Advantage has a step-up feature that
may result in a higher guaranteed
minimum at certain points in time.
|
•1.50%
(as a percentage of
Protected Income
Base)
|
•Investment Requirements apply.
•Withdrawals may significantly reduce or
terminate the benefit.
•Any withdrawal may negatively impact or
eliminate the potential for enhancements,
resets, or step-ups.
•Resets may increase current fee rate.
•Purchase Payments subject to additional
restrictions.
|
i4LIFE® Advantage
Guaranteed Income
Benefit
|
•Provides a minimum payout floor for
Regular Income Payments under i4LIFE®
Advantage.
|
•Select Guaranteed
Income Benefit:
2.25%* (single life
option); 2.45%*
(joint life option)
•Guaranteed Income
Benefit (version 4):
2.00%* (single/joint
life option)
•Guaranteed Income
Benefit (versions 1,
2 and 3): 1.50%*
(single/joint life
option)
*The Guaranteed
Income Benefit
charge is in addition
to the i4LIFE®
Advantage charge
and your base
contract expense.
|
•Guaranteed Income Benefit limits
available investment options (Investment
Requirements apply).
•Withdrawals could significantly reduce or
terminate the benefit.
•Restrictions apply to the length of the
Access Period.
•Additional Purchase Payments can be
subject to restrictions.
|
upon death of:
|
and...
|
and...
|
Death Benefit proceeds pass to:
|
Contractowner
|
There is a surviving joint owner
|
The Annuitant is living or deceased
|
Joint owner
|
Contractowner
|
There is no surviving joint owner
|
The Annuitant is living or deceased
|
Designated Beneficiary
|
Contractowner
|
There is no surviving joint owner
and the Beneficiary predeceases the
Contractowner
|
The Annuitant is living or deceased
|
Contractowner's estate
|
upon death of:
|
and...
|
and...
|
Death Benefit proceeds pass to:
|
Annuitant
|
The Contractowner is living
|
There is no contingent Annuitant
|
The youngest Contractowner
becomes the contingent Annuitant
and the Contract continues. The
Contractowner may waive* this
continuation and receive the Death
Benefit proceeds.
|
Annuitant
|
The Contractowner is living
|
The contingent Annuitant is living
|
Contingent Annuitant becomes the
Annuitant and the Contract
continues
|
Annuitant
|
The Contractowner is a trust or
other non-natural person**
|
No contingent Annuitant allowed
with non-natural Contractowner
|
Designated Beneficiary
|
7/3/2024 Initial Deposit / Contract Value
|
$10,000
|
7/3/2028 Contract Value
|
$25,000
|
7/3/2029 Contract Value
|
$23,500
|
|
Minimum Access Period
|
Maximum Access Period
|
i4LIFE® Advantage (without a Guaranteed Income
Benefit) for new elections on and after November 20,
2023
|
10 years
|
The length of time between
your age and age 115 for
nonqualified contracts; age
100 for qualified contracts
|
i4LIFE® Advantage (without a Guaranteed Income
Benefit) for elections prior to November 20, 2023
|
5 years
|
The length of time between
your age and age 115 for
nonqualified contracts; age
100 for qualified contracts
|
Select Guaranteed Income Benefit
|
Longer of 20 years or the difference between your age
(nearest birthday) and age 90
|
To age 115 for nonqualified
contracts; to age 100 for
qualified contracts
|
Guaranteed Income Benefit (version 4) elections on or
after May 21, 2012
|
Longer of 20 years or the difference between your age
(nearest birthday) and age 100
|
To age 115 for nonqualified
contracts; to age 100 for
qualified contracts
|
Guaranteed Income Benefit (version 4) elections prior to
May 21, 2012
|
Longer of 20 years or the difference between your age
(nearest birthday) and age 90
|
To age 115 for nonqualified
contracts; to age 100 for
qualified contracts
|
Guaranteed Income Benefit (version 2 and 3)
|
Longer of 15 years or the difference between your age
(nearest birthday) and age 85
|
To age 115 for nonqualified
contracts; to age 100 for
qualified contracts
|
i4LIFE® Advantage Guarantee of Principal Death Benefit
|
$200,000
|
|
Regular Income Payment
|
$25,000
|
|
Account Value at the time of additional withdrawal
|
$150,000
|
|
Additional withdrawal
|
$15,000
|
($15,000/$150,000=10% withdrawal)
|
|
|
|
Death Benefit Value after Regular Income Payment = $200,000 - $25,000 = $175,000
|
||
Reduction in Death Benefit value for withdrawal = $175,000 x 10% = $17,500
|
||
Death Benefit Value after additional withdrawal = $175,000 - $17,500 = $157,500
|
i4LIFE® Regular Income Payment before additional withdrawal
|
$1,200
|
|
Guaranteed Income Benefit before additional withdrawal
|
$900
|
|
Account Value at time of additional withdrawal
|
$150,000
|
|
Additional withdrawal
|
$15,000
|
(a 10% withdrawal)
|
|
|
|
Reduction in Guaranteed Income Benefit for additional withdrawal = $900 x 10% = $90
|
||
Guaranteed Income Benefit after additional withdrawal = $900 - $90 = $810
|
Investment Objective
|
Fund and
Adviser/Sub-adviser1
|
Current Expenses
|
Average Annual Total
Returns (as of 12/31/2023)
|
||
|
|
|
1 year
|
5 year
|
10 year
|
High total return (including income and
capital gains) consistent with
preservation of capital over the long
term.
|
American Funds Asset Allocation Fund -
Class 2
|
0.55%
|
14.27%
|
9.20%
|
7.25%
|
Seeks to provide a level of current
income that exceeds the average yield
on U.S. stocks generally and to provide
a growing stream of income over the
years.
|
American Funds Capital Income
Builder® - Class 4
|
0.78%2
|
8.75%
|
7.18%
|
N/A
|
To provide, over the long term, with a
high level of total return consistent with
prudent investment management.
|
American Funds Capital World Bond
Fund - Class 2
|
0.73%
|
6.14%
|
-0.33%
|
0.36%
|
Long-term growth of capital while
providing current income.
|
American Funds Capital World Growth
and Income Fund - Class 2
|
0.66%2
|
20.88%
|
10.34%
|
7.62%
|
The balanced accomplishment of three
objectives: long-term growth of capital,
conservation of principal and current
income.
|
American Funds Global Balanced Fund -
Class 2
|
0.77%2
|
13.83%
|
7.44%
|
5.40%
|
Long-term growth of capital.
|
American Funds Global Growth Fund -
Class 2
|
0.66%2
|
22.60%
|
13.65%
|
9.58%
|
Long-term growth of capital. A fund of
funds.
|
American Funds Global Growth
PortfolioSM - Class 4
|
0.97%
|
23.03%
|
11.36%
|
N/A
|
Long-term capital growth.
|
American Funds Global Small
Capitalization Fund - Class 2
|
0.91%2
|
16.17%
|
8.31%
|
5.78%
|
To provide long-term growth of capital
while providing current income. A fund
of funds.
|
American Funds Growth and Income
PortfolioSM - Class 4
|
0.82%
|
15.86%
|
8.53%
|
N/A
|
Growth of capital.
|
American Funds Growth Fund - Class 2
|
0.59%
|
38.49%
|
18.68%
|
14.36%
|
Long-term growth of capital and income.
|
American Funds Growth-Income Fund -
Class 2
|
0.53%
|
26.14%
|
13.36%
|
10.91%
|
To provide investors with a high level of
current income; capital appreciation is
the secondary objective.
|
American Funds High-Income Trust -
Class 2
|
0.57%2
|
12.45%
|
6.09%
|
4.41%
|
Investment Objective
|
Fund and
Adviser/Sub-adviser1
|
Current Expenses
|
Average Annual Total
Returns (as of 12/31/2023)
|
||
|
|
|
1 year
|
5 year
|
10 year
|
Long-term growth of capital.
|
American Funds International Fund -
Class 2
|
0.78%
|
15.84%
|
4.83%
|
3.41%
|
Long-term growth of capital while
providing current income.
|
American Funds International Growth
and Income Fund - Class 2
|
0.81%
|
15.76%
|
6.11%
|
3.31%
|
To provide high total return (including
income and capital gains) consistent
with preservation of capital over the long
term while seeking to manage volatility
and provide downside protection. A fund
of funds.
|
American Funds Managed Risk Asset
Allocation Fund - Class P2
|
0.90%2
|
10.23%
|
5.91%
|
4.74%
|
High total return (including income and
capital gains) consistent with
preservation of capital over the long
term while seeking to manage volatility
and provide downside protection. A fund
of funds.
|
American Funds Managed Risk Global
Allocation PortfolioSM - Class P2
|
1.04%2
|
10.52%
|
4.56%
|
N/A
|
Long-term growth of capital and current
income while seeking to manage
volatility and provide downside
protection. A fund of funds.
|
American Funds Managed Risk Growth
and Income PortfolioSM - Class P2
|
0.91%2
|
11.71%
|
5.66%
|
N/A
|
To provide growth of capital while
seeking to manage volatility and provide
downside protection. A fund of funds.
|
American Funds Managed Risk Growth
Fund - Class P2
|
0.94%2
|
23.50%
|
10.98%
|
8.30%
|
Long-term growth of capital while
seeking to manage volatility and provide
downside protection. A fund of funds.
|
American Funds Managed Risk Growth
PortfolioSM - Class P2
|
0.94%2
|
15.57%
|
6.73%
|
N/A
|
To achieve long-term growth of capital
and income while seeking to manage
volatility and provide downside
protection. A fund of funds.
|
American Funds Managed Risk Growth-
Income Fund - Class P2
|
0.87%2
|
15.90%
|
7.60%
|
6.15%
|
To provide long-term growth of capital
while seeking to manage volatility and
provide downside protection. A fund of
funds.
|
American Funds Managed Risk
International Fund - Class P2
|
1.10%2
|
6.22%
|
0.79%
|
0.24%
|
To produce income and to provide an
opportunity for growth of principal
consistent with sound common stock
investing while seeking to manage
volatility and provide downside
protection. A fund of funds.
|
American Funds Managed Risk
Washington Mutual Investors Fund -
Class P2
|
0.89%2
|
9.73%
|
5.59%
|
4.73%
|
To provide current income and
preservation of capital.
|
American Funds Mortgage Fund - Class
2
|
0.57%2
|
3.68%
|
0.80%
|
1.48%
|
Long-term capital appreciation.
|
American Funds New World Fund® -
Class 2
|
0.82%2
|
15.99%
|
8.64%
|
4.69%
|
To provide as high a level of current
income as is consistent with the
preservation of capital.
|
American Funds The Bond Fund of
America - Class 2
|
0.48%2
|
5.02%
|
1.89%
|
2.08%
|
Investment Objective
|
Fund and
Adviser/Sub-adviser1
|
Current Expenses
|
Average Annual Total
Returns (as of 12/31/2023)
|
||
|
|
|
1 year
|
5 year
|
10 year
|
To provide a high level of current income
consistent with prudent investment risk
and preservation of capital.
|
American Funds U.S. Government
Securities Fund - Class 2
|
0.51%2
|
2.89%
|
1.04%
|
1.52%
|
To provide the investors with current
income, consistent with the maturity and
quality standards applicable to the fund,
and preservation of capital and liquidity.
|
American Funds Ultra-Short Bond Fund -
Class 2
|
0.56%
|
4.64%
|
1.37%
|
0.74%
|
To produce income and to provide an
opportunity for growth of principal
consistent with sound common stock
investing.
|
American Funds Washington Mutual
Investors Fund - Class 2
|
0.52%2
|
17.29%
|
12.60%
|
9.91%
|
A balance between a high level of
current income and growth of capital,
with an emphasis on growth of capital. A
fund of funds.
|
LVIP American Balanced Allocation Fund
- Service Class
advised by Lincoln Financial Investments
Corporation
|
0.93%2
|
13.27%
|
7.63%
|
5.72%
|
A balance between a high level of
current income and growth of capital. A
fund of funds.
|
LVIP American Global Balanced
Allocation Managed Risk Fund - Service
Class
advised by Lincoln Financial Investments
Corporation
|
0.95%
|
11.41%
|
5.39%
|
4.14%
|
A balance between a high level of
current income and growth of capital,
with a greater emphasis on growth of
capital. A fund of funds.
|
LVIP American Global Growth Allocation
Managed Risk Fund - Service Class
advised by Lincoln Financial Investments
Corporation
|
0.97%
|
13.57%
|
5.82%
|
4.14%
|
A balance between a high level of
current income and growth of capital,
with a greater emphasis on growth of
capital. A fund of funds.
|
LVIP American Growth Allocation Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
|
0.94%2
|
14.55%
|
8.17%
|
6.12%
|
A high level of current income with
some consideration given to growth of
capital. A fund of funds.
|
LVIP American Income Allocation Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
|
0.93%2
|
10.40%
|
5.73%
|
4.51%
|
Current income, consistent with the
preservation of capital. A fund of funds.
|
LVIP American Preservation Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
|
0.86%2
|
3.74%
|
0.98%
|
1.00%
|
Group 1
Investments must be at least 30% of Contract
Value or Account Value
|
Group 2
Investments cannot exceed 70% of Contract
Value or Account Value
|
Group 3
Investments cannot exceed 10% of Contract
Value or Account Value
|
American Funds Capital World Bond Fund
American Funds Mortgage Fund
American Funds The Bond Fund of America
American Funds U.S. Government Securities
Fund
LVIP American Preservation Fund
|
American Funds Asset Allocation Fund
American Funds Capital Income Builder®
American Funds Capital World Growth and
Income Fund
American Funds Global Balanced Fund
American Funds Global Growth Fund
American Funds Global Growth PortfolioSM
American Funds Growth and Income PortfolioSM
American Funds Growth Fund
American Funds Growth-Income Fund
American Funds High-Income Trust
American Funds International Fund
American Funds International Growth and
Income Fund
American Funds Ultra-Short Bond Fund
American Funds Washington Mutual Investors
Fund
LVIP American Balanced Allocation Fund
LVIP American Growth Allocation Fund
LVIP American Income Allocation Fund
|
American Funds Global Small Capitalization Fund
American Funds New World Fund®
|
Group 1
Investments must be at least 30% of Contract
Value or Account Value
|
Group 2
Investments cannot exceed 70% of Contract
Value or Account Value
|
Group 3
Investments cannot exceed 10% of Contract
Value or Account Value
|
American Funds Capital World Bond Fund
American Funds Mortgage Fund
American Funds The Bond Fund of America
American Funds U.S. Government Securities
Fund
LVIP American Preservation Fund
|
All other Subaccounts, except as described
below.
|
No Subaccounts at this time.
|
Initial Purchase Payment
|
$100,000
|
|
Additional Purchase Payment in Year 2
|
$95,000
|
No change to charge
|
Additional Purchase Payment in Year 3
|
$50,000
|
Charge will be the then current charge
|
Additional Purchase Payment in Year 4
|
$25,000
|
Charge will be the then current charge
|
|
Contract
Value
|
Guaranteed
Amount
|
Potential for
Charge to
Change
|
Length of 5%
Enhancement
Period
|
Initial Purchase Payment $50,000 + 3%
Bonus Credit
|
$51,500
|
$51,500
|
No
|
10
|
1st Benefit Year anniversary
|
$54,000
|
$54,075
|
No
|
9
|
2nd Benefit Year anniversary
|
$53,900
|
$56,779
|
No
|
8
|
3rd Benefit Year anniversary
|
$57,000
|
$59,618
|
No
|
7
|
4th Benefit Year anniversary
|
$64,000
|
$64,000
|
Yes
|
10
|
|
Contract
Value
|
Guaranteed
Amount
|
Maximum Annual
Withdrawal Amount
|
Initial Purchase Payment $50,000 + 3% Bonus Credit
|
$51,500
|
$51,500
|
$2,575
|
1st Benefit Year anniversary
|
$54,000
|
$54,000
|
$2,700
|
2nd Benefit Year anniversary
|
$51,000
|
$51,300
|
$2,700
|
3rd Benefit Year anniversary
|
$57,000
|
$57,000
|
$2,850
|
4th Benefit Year anniversary
|
$64,000
|
$64,000
|
$3,200
|
|
Contract
Value
|
Guaranteed
Amount
|
Initial Purchase Payment $50,000 (3% Bonus Credit)
|
$51,500
|
$51,500
|
1st Benefit Year anniversary
|
$54,000
|
$54,000
|
2nd Benefit Year anniversary
|
$53,900
|
$54,000
|
3rd Benefit Year anniversary
|
$57,000
|
$57,000
|
Initial Purchase Payment and corresponding Bonus Credit
|
$104,000
|
|
Purchase Payment and corresponding Bonus Credit 60 days later
|
$10,400
|
|
Protected Income Base
|
$114,400
|
|
Future Protected Income Base (during the 1st Waiting Period)
|
$131,560
|
($114,400 x 115%)
|
Protected Income Base (after 1st Waiting Period)
|
$131,560
|
|
New Future Protected Income Base (during 2nd Waiting Period)
|
$151,294
|
($131,560 x 115%)
|
Protected Income Base
|
$104,000
|
|
Purchase Payment and corresponding Bonus Credit in Year 2
|
$10,400
|
|
New Protected Income Base
|
$114,400
|
|
Future Protected Income Base (during 1st Waiting Period-Year 2)
|
$130,520
|
($104,000 x 115%) + ($10,400 x 100%) +
|
|
|
($10,400 x 15% x 1/3)
|
Protected Income Base (after 1st Waiting Period)
|
$130,520
|
|
New Future Protected Income Base (during 2nd Waiting Period)
|
$150,098
|
($130,520 x 115%)
|
Protected Income Base
|
$104,000
|
Maximum Protected Income Base
|
$208,000
|
Purchase Payment and corresponding Bonus
Credit in Year 2
|
$10,400
|
Increase to Maximum Protected Income Base
|
$20,800
|
New Protected Income Base
|
$114,400
|
New Maximum Protected Income Base
|
$228,800
|
Future Protected Income Base after Purchase
Payment
|
$130,520
|
Maximum Protected Income Base
|
$228,800
|
Protected Income Base (after 1st Waiting
Period)
|
$130,520
|
|
|
Future Protected Income Base (during 2nd
Waiting Period)
|
$150,098
|
Maximum Protected Income Base
|
$228,800
|
Contract Value in Year 4
|
$112,000
|
|
|
Withdrawal of 10%
|
$11,200
|
|
|
After Withdrawal (10% adjustment)
|
|
|
|
Contract Value
|
$100,800
|
|
|
Protected Income Base
|
$117,468
|
|
|
Future Protected Income Base
|
$135,088
|
Maximum Protected Income Base
|
$205,920
|
i4LIFE® Account Value before market decline
|
$135,000
|
i4LIFE® Account Value after market decline
|
$100,000
|
Guaranteed Income Benefit
|
$810
|
Regular Income Payment after market decline
|
$769
|
Account Value after market decline and Guaranteed Income Benefit
payment
|
$99,190
|
Account Value (equals Contract Value on date i4LIFE® Advantage
Guaranteed Income Benefit is elected)
|
$100,000
|
|
Guaranteed Amount on the date i4LIFE® Advantage Guaranteed
Income Benefit is elected:
|
$140,000
|
|
Initial Regular Income Payment
|
$5,411
|
|
Initial Guaranteed Income Benefit (4.5% x $140,000 Guaranteed
Amount which is greater than $100,000 Account Value)
|
$6,300
|
|
i4LIFE® Account Value before market decline
|
$135,000
|
i4LIFE® Account Value after market decline
|
$100,000
|
Monthly Guaranteed Income Benefit
|
$810
|
Monthly Regular Income Payment after market decline
|
$769
|
Account Value after market decline and Guaranteed Income Benefit
payment
|
$99,190
|
8/1/2024 Amount of initial Regular Income Payment
|
$4,801
|
8/1/2024 Account Value at election of Guaranteed Income Benefit (version 4)
|
$100,000
|
8/1/2024 Initial Guaranteed Income Benefit (3.5% x $100,000 Account Value)
|
$3,500
|
8/1/2025 Recalculated Regular Income Payment
|
$6,000
|
8/1/2025 Guaranteed Income Benefit after step-up (75% of $6,000)
|
$4,500
|
Single Life Option
|
Joint Life Option**
|
||
Age
|
GIB Percentage*
|
Age
(younger of you and
your spouse’s age)
|
GIB Percentage*
|
Under age 40
|
2.50%
|
Under age 40
|
2.50%
|
40 – 54
|
3.00%
|
40 – 54
|
2.75%
|
55 – 58
|
3.25%
|
55 – 58
|
3.00%
|
59 – 64
|
3.75%
|
59 – 64
|
3.50%
|
65 – 69
|
4.25%
|
65 – 69
|
4.00%
|
70 – 74
|
5.00%
|
70 – 74
|
4.25%
|
75 – 79
|
5.00%
|
75 – 79
|
4.75%
|
80+
|
5.25%
|
80+
|
5.00%
|
Single & Joint Life Option**
|
Single & Joint Life Option**
|
Age
|
GIB Percentage*
|
Under age 40
|
2.50%
|
40 – 54
|
3.00%
|
55 – 58
|
3.50%
|
59 – 64
|
4.00%
|
65 – 69
|
4.50%
|
70 – 79
|
5.00%
|
80+
|
5.50%
|
Single Life Option
|
Joint Life Option
|
||
Age
|
Percentage of Account
Value, Protected Income Base or
Guaranteed Amount
|
Age
(younger of you and
your spouse’s age)
|
Percentage of Account
Value, Protected Income Base or
Guaranteed Amount
|
Under age 40
|
2.00%
|
Under age 40
|
2.00%
|
40 – 54
|
2.50%
|
40 – 54
|
2.50%
|
55 – 58
|
3.00%
|
55 – 58
|
3.00%
|
59 – 64
|
3.50%
|
59 – 69
|
3.50%
|
65 – 69
|
4.00%
|
70 – 74
|
4.00%
|
70 – 74
|
4.50%
|
75+
|
4.50%
|
75+
|
5.00%
|
|
|
Single & Joint Life Option*
|
Single & Joint Life Option*
|
Age
|
Percentage of Account
Value, Protected Income Base or
Guaranteed Amount
|
Under age 40
|
2.00%
|
40 – 54
|
2.50%
|
55 – 58
|
3.00%
|
59 – 64
|
3.50%
|
65 – 69
|
4.00%
|
70 – 74
|
4.50%
|
75+
|
5.00%
|
Single & Joint Life Option*
|
Single & Joint Life Option*
|
Age
|
Percentage of Account
Value, Protected Income Base or
Guaranteed Amount
|
Under age 40
|
2.50%
|
40 – 54
|
3.00%
|
55 – 58
|
3.50%
|
59 – 64
|
4.00%
|
65 – 69
|
4.50%
|
70 – 79
|
5.00%
|
80+
|
5.50%
|
Contents
|
Page
|
B-2
|
|
B-2
|
|
B-2
|
|
B-3
|
|
B-3
|
|
B-3
|
|
B-3
|
|
B-4
|
|
B-4
|
Contents
|
Page
|
B-4
|
|
B-4
|
|
B-5
|
|
B-5
|
|
B-6
|
|
B-6
|
|
B-6
|
|
B-7
|
Name
|
Positions and Offices with Depositor
|
Jayson R. Bronchetti*
|
Executive Vice President, Chief Investment Officer and Director
|
Adam M. Cohen*
|
Senior Vice President, Chief Accounting Officer and Treasurer
|
Ellen G. Cooper*
|
President and Director
|
Stephen B. Harris*
|
Senior Vice President and Chief Ethics and Compliance Officer
|
Mark E. Konen
4901 Avenue G
Austin, TX 78751
|
Director
|
M. Leanne Lachman
870 United Nations, Plaza, #19-E
New York, NY 10017
|
Director
|
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*
|
Executive Vice President, Chief Financial Officer and Director
|
Nancy A. Smith*
|
Secretary
|
Joseph D. Spada**
|
Vice President and Chief Compliance Officer for Separate Accounts
|
Name
|
Positions and Offices with Underwriter
|
Adam M. Cohen*
|
Senior Vice President and Treasurer
|
Jason M. Gibson**
|
Vice President and Chief Compliance Officer
|
Claire H. Hanna*
|
Secretary
|
John C. Kennedy*
|
President, Chief Executive Officer and Director
|
Jared M. Nepa*
|
Senior Vice President and Director
|
Thomas P. O'Neill*
|
Senior Vice President, Chief Operating Officer and Head of Financial
Institutions Group
|
Timothy J. Seifert Sr*
|
Senior Vice President and Director
|
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 these registration statements and has caused these Post-Effective Amendments to the registration statements to be signed on its behalf, in the City of Fort Wayne, and the State of Indiana on this 10th day of April, 2024 at 3:21 pm. |
Lincoln Life & Annuity Variable Annuity Account H
Lincoln New York Account N for Variable Annuities
(Registrants)
By: | /s/ Daniel P. Herr | |
Daniel P. Herr | ||
Senior 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 10th day of April, 2024 at 2:28 pm.
Lincoln Life & Annuity Company of New York
(Depositor)
By: | /s/ Michelle L. Grindle | |
Michelle L. Grindle | ||
(Signature-Officer of Depositor) | ||
Vice President, Lincoln Life & Annuity Company of New York |
Lincoln Life & Annuity Variable Annuity Account H (File No. 811-08441; CIK: 0001045008)
333-141754 (Amendment No. 48) | 333-141763 (Amendment No. 47) | 333-181617 (Amendment No. 26) |
333-141756 (Amendment No. 44) | 333-141766 (Amendment No. 42) | 333-214112 (Amendment No. 14) |
333-141758 (Amendment No. 45) | 333-171097 (Amendment No. 33) | 333-234169 (Amendment No. 7) |
333-141761 (Amendment No. 36) | 333-176216 (Amendment No. 25) | 333-234170 (Amendment No. 7) |
Lincoln New York Account N for Variable Annuities (File No. 811-09763; CIK: 0001093278)
333-141752 (Amendment No. 50) | 333-149449 (Amendment No. 38) | 333-193276 (Amendment No. 21) |
333-141759 (Amendment No. 48) | 333-171096 (Amendment No. 35) | 333-193277 (Amendment No. 18) |
333-141757 (Amendment No. 49) | 333-175691 (Amendment No. 32) | 333-214111 (Amendment No. 18) |
333-141760 (Amendment No. 40) | 333-176213 (Amendment No. 31) | 333-214113 (Amendment No. 13) |
333-141762 (Amendment No. 46) | 333-181616 (Amendment No. 39) | 333-214256 (Amendment No. 9) |
333-145531 (Amendment No. 53) | 333-186895 (Amendment No. 33) |
(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 10, 2024 at 3:21 pm.
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 | ||
Jason 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/ Daniel P. Herr, pursuant to a Power of Attorney |
| |
Daniel P. Herr |