04/29/2024 | Press release | Distributed by Public on 04/29/2024 11:00
The following fund will be reorganized into…
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...the following acquiring Fund.*
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American Century VP Balanced Fund
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LVIP American Century Balanced Fund
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Former Fund Name
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New Fund Name*
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Delaware VIP® Small Cap Value Series
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Macquarie VIP Small Cap Value Series
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LVIP Delaware Bond Fund
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LVIP Macquarie Bond Fund
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LVIP Delaware Diversified Floating Rate Fund
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LVIP Macquarie Diversified Floating Rate Fund
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LVIP Delaware Diversified Income Fund
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LVIP Macquarie Diversified Income Fund
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LVIP Delaware High Yield Fund
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LVIP Macquarie High Yield Fund
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LVIP Delaware SMID Cap Core Fund
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LVIP Macquarie SMID Cap Core Fund
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LVIP Delaware Social Awareness Fund
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LVIP Macquarie Social Awareness Fund
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LVIP Delaware U.S. REIT Fund
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LVIP Macquarie U.S. REIT Fund
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LVIP Delaware Wealth Builder Fund
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LVIP Macquarie Wealth Builder Fund
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FEES AND EXPENSES
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Location in
Prospectus
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Charges for Early
Withdrawals
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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 16 Participation Years, you
may be assessed a surrender charge of up to 5% of the amount withdrawn, declining
to 0% over that time period.
•GVA II contract. If you withdraw money during the first 16 Participation Years, you
may be assessed a surrender charge of up to 6% of Purchase Payments withdrawn,
declining to 0% over that time period.
•GVA III contract. There is no surrender charge for this Contract.
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•Fee Tables
•Examples
•Charges and
Other
Deductions -
Surrender
Charge
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Transaction
Charges
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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. Depending on your state of
residence, a one-time fee of up to $50 may be charged to set up and process a loan and
the outstanding amount of the loan is subject to loan interest and a loan maintenance
fee. A one-time fee of up to $30 will be charged to set up the Systematic Withdrawal
Option.
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•Fee Tables
•Charges and
Other
Deductions
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Ongoing Fees and
Expenses (annual
charges)
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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.
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•Fee Tables
•Examples
•Charges and
Other
Deductions
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Annual Fee
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Minimum
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Maximum
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Base Contract (varies by Contract)
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1.00%1
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Investment options (fund fees and
expenses)
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0.23%2
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1.32%2
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1 As a percentage of average daily net assets in the Subaccounts. Certain contracts or plans may be eligible for
a breakpoint charge of 0.75%
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2 As a percentage of fund net assets.
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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.
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Lowest Annual Cost: $1,500
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Highest Annual Cost: $3,076
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Assumes:
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Assumes:
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•Investment of $100,000
•5% annual appreciation
•Least expensive fund fees and
expenses
•No surrender charges
•No additional Purchase Payments,
transfers, or withdrawals
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•Investment of $100,000
•5% annual appreciation
•Most expensive fund fees and expenses
•No surrender charges
•No additional Purchase Payments,
transfers, or withdrawals
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RISKS
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Location in
Prospectus
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Risk of Loss
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•You can lose money by investing in this Contract, including loss of principal.
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•Principal Risks
•Investments of
the Variable
Annuity
Account
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RISKS
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Location in
Prospectus
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Not a Short-Term
Investment
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•This Contract is not designed for short-term investing and is not appropriate for an
investor who needs ready access to cash.
•Surrender charges may apply to withdrawals. If you take a withdrawal, any surrender
charges will reduce the value of your Contract or the amount of money that you
actually receive.
•The benefits of tax deferral and long-term income also 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.
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•Principal Risks
•Withdrawals
•Fee Tables
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Risks Associated
with Investment
Options
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•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.
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•Principal Risks
•Investments in
the Variable
Annuity
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Insurance
Company Risks
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•An investment in the Contract is subject to the risks related to Lincoln Life. 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
Life, including our financial strength ratings, is available upon request by calling 1-
800-341-0441 or visiting www.LincolnFinancial.com.
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•Principal Risks
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RESTRICTIONS
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Location in
Prospectus
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Investments
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•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.
•Currently, there is no charge for transfers.
•We reserve the right to remove or substitute the funds that are available as
investment options under the Contract.
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•Principal Risks
•Investments of
the Variable
Annuity
Account
•Transfers On
and Before the
Annuity
Commence-
ment Date
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TAXES
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Location in
Prospectus
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Tax Implications
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•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.
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•Federal Tax
Matters
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CONFLICTS OF INTEREST
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Location in
Prospectus
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Investment
Professional
Compensation
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•Your registered representative may receive compensation for selling this Contract to
you, in the form of commissions, additional cash benefits (e.g., bonuses), and non-
cash compensation. We may share the revenue we earn on this Contract with your
investment professional's firm.
•This potential conflict of interest may influence your registered representative to
recommend this Contract over another investment for which the investment
professional is not compensated or compensated less.
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•Distribution of
the Contracts
•Principal Risks
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CONFLICTS OF INTEREST
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Location in
Prospectus
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Exchanges
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•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 a contract you already own 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.
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•Replacement
of Existing
Insurance
|
Investment Objective
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Fund and
Adviser/Sub-adviser1
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Current Expenses
|
Average Annual Total
Returns (as of 12/31/2023)
|
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1 year
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5 year
|
10 year
|
|||
Long-term growth of capital.
|
AB VPS Large Cap Growth Portfolio -
Class B
advised by AllianceBernstein L.P.
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0.91%2
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34.78%
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17.56%
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14.60%
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Long-term growth of capital.
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AB VPS Sustainable Global Thematic
Portfolio - Class B
advised by AllianceBernstein L.P.
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1.17%2
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15.70%
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13.27%
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9.33%
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Long-term growth of capital.
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American Funds Global Growth Fund -
Class 2
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0.66%2
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22.60%
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13.65%
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9.58%
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Growth of capital.
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American Funds Growth Fund - Class 2
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0.59%
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38.49%
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18.68%
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14.36%
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Long-term growth of capital and income.
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American Funds Growth-Income Fund -
Class 2
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0.53%
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26.14%
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13.36%
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10.91%
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Long-term growth of capital.
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American Funds International Fund -
Class 2
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0.78%
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15.84%
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4.83%
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3.41%
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Capital Appreciation. A fund of funds.
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DWS Alternative Asset Allocation VIP
Portfolio - Class A
advised by DWS Investment
Management Americas, Inc.
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0.83%
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6.19%
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6.09%
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2.96%
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To obtain high total return with reduced
risk over the long term by allocating its
assets among stocks, bonds, and short-
term instruments.
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Fidelity® VIP Asset Manager Portfolio -
Initial Class
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0.53%
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12.94%
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7.48%
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5.40%
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Long-term capital appreciation.
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Fidelity® VIP Contrafund® Portfolio -
Service Class 2
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0.81%
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33.12%
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16.36%
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11.33%
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High total return with a secondary
objective of principal preservation as the
fund approaches its target date and
beyond. A fund of funds.
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Fidelity® VIP Freedom 2020 PortfolioSM
- Service Class 2
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0.72%
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12.22%
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7.22%
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5.48%
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High total return with a secondary
objective of principal preservation as the
fund approaches its target date and
beyond. A fund of funds.
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Fidelity® VIP Freedom 2025 PortfolioSM
- Service Class 2
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0.74%
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13.32%
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7.98%
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5.93%
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Investment Objective
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Fund and
Adviser/Sub-adviser1
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Current Expenses
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Average Annual Total
Returns (as of 12/31/2023)
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1 year
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5 year
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10 year
|
|||
High total return with a secondary
objective of principal preservation as the
fund approaches its target date and
beyond. A fund of funds.
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Fidelity® VIP Freedom 2030 PortfolioSM
- Service Class 2
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0.77%
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14.46%
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9.02%
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6.59%
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High total return with a secondary
objective of principal preservation as the
fund approaches its target date and
beyond. A fund of funds.
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Fidelity® VIP Freedom 2035 PortfolioSM
- Service Class 2
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0.82%
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16.53%
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10.57%
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7.40%
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High total return with a secondary
objective of principal preservation as the
fund approaches its target date and
beyond. A fund of funds.
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Fidelity® VIP Freedom 2040 PortfolioSM
- Service Class 2
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0.86%
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18.61%
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11.65%
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7.87%
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High total return with a secondary
objective of principal preservation as the
fund approaches its target date and
beyond. A fund of funds.
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Fidelity® VIP Freedom 2045 PortfolioSM
- Service Class 2
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0.87%
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19.13%
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11.75%
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7.92%
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High total return with a secondary
objective of principal preservation as the
fund approaches its target date and
beyond. A fund of funds.
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Fidelity® VIP Freedom 2050 PortfolioSM
- Service Class 2
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0.87%
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19.19%
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11.75%
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7.91%
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High total return with a secondary
objective of principal preservation as the
fund approaches its target date and
beyond. A fund of funds.
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Fidelity® VIP Freedom 2055 PortfolioSM
- Service Class 2
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0.87%
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19.12%
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N/A
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N/A
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High total return with a secondary
objective of principal preservation as the
fund approaches its target date and
beyond. A fund of funds.
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Fidelity® VIP Freedom 2060 PortfolioSM
- Service Class 2
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0.87%
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19.12%
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N/A
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N/A
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To achieve capital appreciation.
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Fidelity® VIP Growth Portfolio - Initial
Class
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0.58%
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36.24%
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19.64%
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14.80%
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Long-term growth of capital.
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Janus Henderson Global Research
Portfolio - Institutional Shares
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0.61%
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26.78%
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13.33%
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9.01%
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Long-term capital growth and current
income by investing approximately 60%
of its assets in equity securities and the
remainder in bonds and other fixed-
income securities.
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LVIP American Century Balanced Fund -
Standard Class II
(formerly American Century VP
Balanced Fund)
advised by Lincoln Financial Investments
Corporation
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0.77%2
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16.41%
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8.50%
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6.55%
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Capital Appreciation.
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LVIP Baron Growth Opportunities Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
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1.15%2
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17.81%
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13.66%
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9.35%
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High total investment return.
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LVIP BlackRock Global Allocation Fund -
Standard Class
advised by Lincoln Financial Investments
Corporation
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0.73%2
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13.62%
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N/A
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N/A
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To maximize real return, consistent with
preservation of real capital and prudent
investment management.
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LVIP BlackRock Inflation Protected Bond
Fund - Standard Class
advised by Lincoln Financial Investments
Corporation
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0.63%
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5.07%
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3.16%
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2.19%
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Investment Objective
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Fund and
Adviser/Sub-adviser1
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Current Expenses
|
Average Annual Total
Returns (as of 12/31/2023)
|
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1 year
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5 year
|
10 year
|
|||
Total return through a combination of
current income and long-term capital
appreciation.
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LVIP BlackRock Real Estate Fund -
Standard Class
advised by Lincoln Financial Investments
Corporation
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0.82%2
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13.06%
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4.76%
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3.85%
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Long-term growth of capital in a manner
consistent with the preservation of
capital.
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LVIP Blended Large Cap Growth
Managed Volatility Fund - Standard
Class
advised by Lincoln Financial Investments
Corporation
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0.67%2
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34.15%
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13.82%
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9.28%
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Capital Appreciation.
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LVIP Blended Mid Cap Managed
Volatility Fund - Standard Class
advised by Lincoln Financial Investments
Corporation
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0.73%2
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17.75%
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10.22%
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6.41%
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Long-term capital appreciation.
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LVIP Dimensional U.S. Core Equity 1
Fund - Standard Class
advised by Lincoln Financial Investments
Corporation
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0.40%2
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22.78%
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14.99%
|
11.07%
|
Long-term capital growth.
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LVIP Franklin Templeton Global Equity
Managed Volatility Fund - Standard
Class
advised by Lincoln Financial Investments
Corporation
|
0.73%2
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17.24%
|
8.98%
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4.58%
|
To maximize long-term capital
appreciation.
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LVIP Franklin Templeton Multi-Factor
Emerging Markets Equity Fund -
Standard Class
advised by Lincoln Financial Investments
Corporation
|
0.50%2
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10.04%
|
3.12%
|
1.60%
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A high level of current income with
some consideration given to growth of
capital. A fund of funds.
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LVIP Global Conservative Allocation
Managed Risk Fund - Standard Class
advised by Lincoln Financial Investments
Corporation
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0.77%2
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9.72%
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4.23%
|
3.52%
|
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.
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LVIP Global Growth Allocation Managed
Risk Fund - Standard Class
advised by Lincoln Financial Investments
Corporation
|
0.76%2
|
13.33%
|
4.97%
|
3.72%
|
A balance between a high level of
current income and growth of capital,
with an emphasis on growth of capital. A
fund of funds.
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LVIP Global Moderate Allocation
Managed Risk Fund - Standard Class
advised by Lincoln Financial Investments
Corporation
|
0.75%2
|
11.84%
|
4.56%
|
3.56%
|
Current income and some capital
appreciation. A fund of funds.
|
LVIP JPMorgan Retirement Income Fund
- Standard Class
advised by Lincoln Financial Investments
Corporation
|
0.68%2
|
11.60%
|
5.02%
|
3.94%
|
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 capital appreciation.
|
LVIP JPMorgan Select Mid Cap Value
Managed Volatility Fund - Standard
Class
advised by Lincoln Financial Investments
Corporation
|
0.78%2
|
12.08%
|
9.25%
|
5.62%
|
Maximum current income (yield)
consistent with a prudent investment
strategy.
|
LVIP Macquarie Bond Fund - Standard
Class3
(formerly LVIP Delaware Bond Fund)
advised by Lincoln Financial Investments
Corporation
|
0.37%
|
5.93%
|
1.50%
|
1.99%
|
Total return.
|
LVIP Macquarie Diversified Floating Rate
Fund - Service Class3
(formerly LVIP Delaware Diversified
Floating Rate Fund)
advised by Lincoln Financial Investments
Corporation
|
0.88%2
|
5.31%
|
2.13%
|
1.43%
|
Maximum long-term total return
consistent with reasonable risk.
|
LVIP Macquarie Diversified Income Fund
- Standard Class3
(formerly LVIP Delaware Diversified
Income Fund)
advised by Lincoln Financial Investments
Corporation
|
0.54%2
|
6.24%
|
2.07%
|
2.09%
|
Total return and, as a secondary
objective, high current income.
|
LVIP Macquarie High Yield Fund -
Standard Class3
(formerly LVIP Delaware High Yield
Fund)
advised by Lincoln Financial Investments
Corporation
|
0.74%2
|
12.67%
|
5.51%
|
3.53%
|
Long-term capital appreciation.
|
LVIP Macquarie SMID Cap Core Fund -
Service Class3
(formerly LVIP Delaware SMID Cap Core
Fund)
advised by Lincoln Financial Investments
Corporation
|
1.10%2
|
16.10%
|
11.91%
|
8.06%
|
To maximize long-term capital
appreciation.
|
LVIP Macquarie Social Awareness Fund -
Standard Class3
(formerly LVIP Delaware Social
Awareness Fund)
advised by Lincoln Financial Investments
Corporation
|
0.45%
|
30.17%
|
15.86%
|
11.32%
|
Maximum long-term total return, with
capital appreciation as a secondary
objective.
|
LVIP Macquarie U.S. REIT Fund -
Service Class3
(formerly LVIP Delaware U.S. REIT
Fund)
advised by Lincoln Financial Investments
Corporation
|
1.13%2
|
12.24%
|
6.14%
|
5.94%
|
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 responsible level of income
and the potential for capital appreciation.
|
LVIP Macquarie Wealth Builder Fund -
Standard Class3
(formerly LVIP Delaware Wealth Builder
Fund)
advised by Lincoln Financial Investments
Corporation
|
0.71%2
|
9.91%
|
5.95%
|
4.45%
|
Current income consistent with the
preservation of capital.
|
LVIP Mondrian Global Income Fund -
Standard Class
advised by Lincoln Financial Investments
Corporation
|
0.65%2
|
4.02%
|
-0.92%
|
0.26%
|
Long-term capital appreciation as
measured by the change in the value of
fund shares over a period of three years
or longer.
|
LVIP Mondrian International Value Fund
- Standard Class
advised by Lincoln Financial Investments
Corporation
|
0.75%2
|
20.11%
|
6.03%
|
3.45%
|
To match as closely as practicable,
before fees and expenses, the
performance of the Bloomberg U.S.
Aggregate Index.
|
LVIP SSGA Bond Index Fund - Standard
Class
advised by Lincoln Financial Investments
Corporation
|
0.37%2
|
5.30%
|
0.78%
|
1.49%
|
Long-term growth of capital. A fund of
funds.
|
LVIP SSGA Global Tactical Allocation
Managed Volatility Fund - Standard
Class
advised by Lincoln Financial Investments
Corporation
|
0.59%2
|
13.51%
|
6.28%
|
3.91%
|
To approximate as closely as practicable,
before fees and expenses, the
performance of a broad market index of
non-U.S. foreign securities.
|
LVIP SSGA International Index Fund -
Standard Class
advised by Lincoln Financial Investments
Corporation
|
0.39%2
|
17.57%
|
7.96%
|
4.02%
|
Capital Appreciation. A fund of funds.
|
LVIP SSGA International Managed
Volatility Fund - Standard Class
advised by Lincoln Financial Investments
Corporation
|
0.63%2
|
17.44%
|
4.94%
|
N/A
|
To approximate as closely as practicable,
before fees and expenses, the total rate
of return of common stocks publicly
traded in the United States, as
represented by the S&P 500 Index.
|
LVIP SSGA S&P 500 Index Fund -
Standard Class4
advised by Lincoln Financial Investments
Corporation
|
0.23%
|
26.01%
|
15.41%
|
11.77%
|
To approximate as closely as practicable,
before fees and expenses, the
performance of the Russell 2000®
Index, which emphasizes stocks of small
U.S. companies.
|
LVIP SSGA Small-Cap Index Fund -
Standard Class
advised by Lincoln Financial Investments
Corporation
|
0.38%2
|
16.50%
|
9.52%
|
6.74%
|
The highest total return over time
consistent with an emphasis on both
capital growth and income. A fund of
funds.
|
LVIP T. Rowe Price 2020 Fund -
Standard Class
advised by Lincoln Financial Investments
Corporation
|
0.66%2
|
13.54%
|
7.41%
|
4.90%
|
Investment Objective
|
Fund and
Adviser/Sub-adviser1
|
Current Expenses
|
Average Annual Total
Returns (as of 12/31/2023)
|
||
1 year
|
5 year
|
10 year
|
|||
The highest total return over time
consistent with an emphasis on both
capital growth and income. A fund of
funds.
|
LVIP T. Rowe Price 2030 Fund -
Standard Class
advised by Lincoln Financial Investments
Corporation
|
0.68%2
|
16.14%
|
9.08%
|
5.46%
|
The highest total return over time
consistent with an emphasis on both
capital growth and income. A fund of
funds.
|
LVIP T. Rowe Price 2040 Fund -
Standard Class
advised by Lincoln Financial Investments
Corporation
|
0.70%2
|
19.19%
|
10.72%
|
6.11%
|
The highest total return over time
consistent with an emphasis on both
capital growth and income. A fund of
funds.
|
LVIP T. Rowe Price 2050 Fund -
Standard Class
advised by Lincoln Financial Investments
Corporation
|
0.72%2
|
20.30%
|
11.25%
|
6.57%
|
The highest total return over time
consistent with an emphasis on both
capital growth and income. A fund of
funds.
|
LVIP T. Rowe Price 2060 Fund -
Standard Class
advised by Lincoln Financial Investments
Corporation
|
0.72%2
|
20.31%
|
N/A
|
N/A
|
To maximize capital appreciation.
|
LVIP T. Rowe Price Structured Mid-Cap
Growth Fund - Standard Class
advised by Lincoln Financial Investments
Corporation
|
0.72%2
|
21.17%
|
13.50%
|
10.81%
|
Capital Appreciation.
|
Macquarie VIP Small Cap Value Series -
Service Class3
(formerly Delaware VIP® Small Cap
Value Series)
advised by Delaware Management
Company
|
1.08%
|
9.10%
|
9.87%
|
6.77%
|
Long-term growth of capital by investing
primarily in securities of companies that
meet the Fund's environmental, social
and governance (ESG) criteria.
|
Neuberger Berman AMT Sustainable
Equity Portfolio - I Class
|
0.90%
|
26.90%
|
13.97%
|
9.99%
|
Long-term growth of capital through
investments primarily in the common
stocks of established, non-U.S.
companies.
|
T. Rowe Price International Stock
Portfolio
|
0.95%
|
16.24%
|
7.71%
|
4.75%
|