485BPOS 1 pea85.htm PEA 85
As filed with the Securities and Exchange Commission on December 14, 2023
1933 Act Registration No. 333-63505
1940 Act Registration No. 811-05721
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-4
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
POST-EFFECTIVE AMENDMENT NO. 85
and
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940
AMENDMENT NO. 708
Lincoln National Variable Annuity Account H
(Exact Name of Registrant)
American Legacy Shareholder's Advantage®
American Legacy Shareholder's Advantage® (A-Class)
THE LINCOLN NATIONAL LIFE INSURANCE COMPANY
(Name of Depositor)
1301 South Harrison Street
Post Office Box 1110
Fort Wayne, Indiana 46801
(Address of Depositor’s Principal Executive Offices)
Depositor’s Telephone Number, Including Area Code: (260) 455-2000
Craig T. Beazer, Esquire
The Lincoln National Life Insurance Company
150 North Radnor Chester Road
Radnor, PA 19087
(Name and Address of Agent for Service)
Copy to:
Carolyn E. Augur, Esquire
The Lincoln National Life Insurance Company
350 Church Street
Hartford, Connecticut 06103
Approximate Date of Proposed Public Offering: Continuous
It is proposed that this filing will become effective:
/X/ immediately upon filing pursuant to paragraph (b) of Rule 485
/ / on __________, pursuant to paragraph (b) of Rule 485
/ / 60 days after filing pursuant to paragraph (a)(1) of Rule 485
/ / on __________, pursuant to paragraph (a)(1) of Rule 485
Title of Securities being registered:
Interests in a separate account under individual flexible payment deferred variable annuity contracts.

THE LINCOLN NATIONAL LIFE INSURANCE COMPANY

Lincoln National Variable Annuity Account E
The American Legacy®

Lincoln National Variable Annuity Account H
American Legacy® II, American Legacy® III, American Legacy® III B Class
American Legacy® III C Share, American Legacy® III View, American Legacy® Design
American Legacy® Series, American Legacy® Fusion, American Legacy® Advisory
American Legacy Shareholder’s Advantage®, American Legacy Shareholder’s Advantage® A Class

Lincoln Life Variable Annuity Account N
Lincoln ChoicePlusSM Product Suite, Lincoln ChoicePlusSM II Product Suite
Lincoln ChoicePlus AssuranceSM (A Share/A Class), Lincoln ChoicePlus AssuranceSM (B Class)
Lincoln ChoicePlus AssuranceSM (C Share), Lincoln ChoicePlus AssuranceSM (L Share)
Lincoln ChoicePlus AssuranceSM Series, Lincoln ChoicePlus AssuranceSM (Prime)
Lincoln ChoicePlusSM Rollover, Lincoln ChoicePlusSM Signature
Lincoln ChoicePlusSM Fusion, Lincoln ChoicePlusSM Advisory
Lincoln InvestmentSolutionsSM

Prospectus Supplement dated December 14, 2023 to the Prospectus dated May 1, 2023

This supplement to the prospectus for your individual variable annuity contract discusses an increase to the fee rate for certain riders offered under your contract. All other provisions in your prospectus remain unchanged.

OVERVIEW

For Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk) riders elected prior to May 21, 2018, and for all 4LATER® Advantage (Managed Risk) riders, the current initial annual charge will be increased from 1.05% to 1.25% (single life option) and from 1.25% to 1.50% (joint life option). The fee increase will be effective beginning February 20, 2024, and will only be applicable: (a) if the Protected Income Base increases as a result of an Enhancement after the tenth Benefit Year anniversary; or (b) upon the earlier of (1) the next Account Value Step-up of the Protected income Base or (2) the next Benefit Year anniversary if cumulative Purchase Payments received after the first Benefit Year anniversary equal or exceed $100,000.

•
Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk) riders elected prior to May 21, 2018;
•
4LATER® Advantage (Managed Risk).
You may opt out of the event that causes the fee increase by contacting us in writing or by telephone. See the discussion at the end of this supplement.

DESCRIPTION OF CHANGES

The following discussion describes changes that are incorporated into the specified sections of your prospectus.

Fee Tables – Annual Contract Expenses. The entries for Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk) riders elected prior to May 21, 2018 and 4LATER® Advantage (Managed Risk), along with the accompanying footnotes, are deleted and replaced with the following entries and footnotes:

 
Single Life
Joint Life
Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk) riders elected prior to May 21, 2018*
    
Guaranteed Maximum Annual Charge ………………………………
2.00%
2.00%
   Current Initial Annual Charge………………………………………….
1.25%
1.50%
4LATER® Advantage (Managed Risk)**
    
Guaranteed Maximum Annual Charge ………………………………
2.00%
2.00%
   Current Initial Annual Charge………………………………………….
1.25%
1.50%
*As an annualized percentage of the Protected Income Base, as increased for subsequent Purchase Payments, Account Value Step-ups and Enhancements, and decreased by Excess Withdrawals. This fee is deducted from the Contract Value proportionately on a quarterly basis. This same fee applies when transitioning to the appropriate version of i4LIFE® Advantage Guaranteed Income Benefit.
**As an annualized percentage of the Protected Income Base, as increased for subsequent Purchase Payments, Account Value Step-ups and Enhancements, and decreased by withdrawals. This fee is deducted from the Contract Value proportionately on a quarterly basis. This same fee applies when transitioning to the appropriate version of i4LIFE® Advantage Guaranteed Income Benefit.

Appendix C – Discontinued Death Benefit and Living Benefit Riders – Charges and Deductions for Discontinued Living Benefit Riders. Beginning February 20, 2024, the current initial annual charge for all 4LATER® Advantage (Managed Risk) riders will be increased upon an event described above. As such, the entry for 4LATER® Advantage (Managed Risk) on the fee table, along with the accompanying footnote, are deleted and replaced with the following entry and footnote:

 
Current annual
fee rate
Guaranteed Maximum Annual Fee Rate
 
Single Life
Joint Life
Single Life
Joint Life
 
4LATER® Advantage (Managed Risk)*
 
 
1.25%
 
1.50%
 
 
2.00%
 
2.00%
*Beginning February 20, 2024, the current annual fee rate for the 4LATER® Advantage (Managed Risk) rider increased from 1.05% to 1.25% (single life option); 1.25% to 1.50% (joint life option) if (a) the Protected Income Base increases as a result of an Enhancement after the tenth Benefit Year anniversary; or (b) the earlier of (1) the next Account Value Step-up of the Protected income Base or (2) the next Benefit Year anniversary if cumulative Purchase Payments received after the first Benefit Year anniversary equal or exceed $100,000.

Opting Out of Fee Rate Increases Resulting from an Account Value Step-up

Your fee rate can change each time there is an Account Value Step-up. Since the Account Value Step-up could increase your fee rate every Benefit Year, the fee rate could also increase every Benefit Year, but the rate will never exceed the stated guaranteed maximum annual fee rate. If your fee rate is increased, you may opt out of the Account Value Step-up by giving us notice within 30 days after the Benefit Year anniversary if you do not want your rate to change. If you opt out of the step-up, the fee rate and the Protected Income Base will be lowered to the value they were immediately prior to the step-up, adjusted for additional Purchase Payments or Excess Withdrawals (or all withdrawals under 4LATER® Advantage (Managed Risk)). This opt-out will apply only to this single Account Value Step-up and not to any subsequent Account Value Step-ups. You will need to notify us each time thereafter (if an Account Value Step-up would cause your fee rate to increase) if you do not want the Account Value Step-up.

Opting Out of Fee Rate Increases Resulting from an Enhancement

After the tenth Benefit Year anniversary, if the Enhancement Period has renewed, your fee rate may increase each time the Protected Income Base increases as a result of the Enhancement. Since the Enhancement could increase your Protected Income Base each Benefit Year, your fee rate could increase each Benefit Year, but the fee rate will never exceed the stated guaranteed maximum annual fee rate. If your fee rate is increased, you may opt out of the Enhancement by giving us notice within 30 days after the Benefit Year anniversary if you do not want your fee rate to change. If you opt out of the Enhancement, the fee rate and the Protected Income Base will be lowered to the value they were immediately prior to the Enhancement, adjusted for additional Purchase Payments or Excess Withdrawals (or all withdrawals under 4LATER® Advantage (Managed Risk)), and the Enhancement will not be applied. This opt out will apply only for this single Enhancement and not to any subsequent Enhancements. You will need to notify us each time thereafter (if an Enhancement would cause your fee rate to increase) if you do not want the Enhancement.

No Opt Out of Fee Rate Increases Resulting from Purchase Payments

The fee rate will also increase if, after the first Benefit Year anniversary, cumulative Purchase Payments added to the Contract equal or exceed $100,000. You may not opt out of this fee rate increase.

To opt out of any of the events discussed above, you may contact us in writing or by telephone (if you have proper authorization for telephone transactions in place). See Charges and Other Deductions – Protected Lifetime Income Fee for complete details about Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk). See the Charges, Fees and Deductions for Discontinued Living Benefit Riders section in an appendix to your prospectus for complete details about 4LATER® Advantage (Managed Risk).

Please note that your contract may not offer every rider discussed in this supplement. This fee increase does not apply to any contracts sold in the state of New York. Complete details about these riders may be found in the prospectus.




Please keep this supplement for future reference.



Part A
The Prospectus for the American Legacy Shareholder's Advantage®, American Legacy Shareholder's Advantage® (A-Class) variable annuity contract, as supplemented, is incorporated herein by reference to Post-Effective Amendment No. 82 (File No. 333-63505) filed on April 18, 2023.
Part B
The Statement of Additional Information for the American Legacy Shareholder's Advantage®, American Legacy Shareholder's Advantage® (A-Class) variable annuity contract, as supplemented, including the financial statement of Lincoln National Variable Annuity Account H, is incorporated herein by reference to Post-Effective Amendment No. 82 (File No. 333-63505) filed on April 18, 2023. The adjusted consolidated financial statements of Lincoln Life are incorporated herein by reference to Post-Effective Amendment No. 83 (File No. 333-63505) filed on May 30, 2023.
Lincoln National Variable Annuity Account H
PART C - OTHER INFORMATION
Item 27. Exhibits
(b) None
B-2
B-3
B-4
B-5
(h) Fund Participation Agreements among The Lincoln National Life Insurance Company and:
(j) Rule 22c-2 Agreement between The Lincoln National Life Insurance Company and:
(m) Not applicable
(n) Not applicable
(o) Not applicable
Item 28. Directors and Officers of the Depositor
The following list contains the officers and directors of The Lincoln National Life Insurance Company who are engaged directly or indirectly in activities relating to Lincoln National Variable Annuity Account H as well as the contracts. The list also shows The Lincoln National Life Insurance Company's executive officers.  
Name
Positions and Offices with Depositor
Craig T. Beazer*
Executive Vice President, General Counsel and Director
Jayson R. Bronchetti*
Executive Vice President, Chief Investment Officer and Director
Adam M. Cohen*
Senior Vice President and Chief Accounting Officer
Ellen G. Cooper*
President and Director
Stephen B. Harris*
Senior Vice President and Chief Ethics and Compliance Officer
Shantanu Mishra*
Senior Vice President and Treasurer
Christopher M. Neczypor*
Executive Vice President, Chief Financial Officer and Director
Nancy A. Smith*
Senior Vice President and Secretary
Joseph D. Spada**
Vice President and Chief Compliance Officer for Separate Accounts
Eric B. Wilmer***
Assistant Vice President and Director
*Principal business address is 150 N. Radnor-Chester Road, Radnor, PA 19087
**Principal business address is 350 Church Street, Hartford, CT 06103
***Principal business address is 1301 South Harrison Street, Fort Wayne, IN 46802
B-6
Item 29. Persons Controlled by or Under Common Control with the Depositor or Registrant
See Exhibit (p) above: Lincoln National Corporation Organization Chart
Item 30. Indemnification
a) Brief description of indemnification provisions.
In general, Article VII of the By-Laws of The Lincoln National Life Insurance Company (Lincoln Life or Company) provides that Lincoln Life will indemnify certain persons against expenses, judgments and certain other specified costs incurred by any such person if he/she is made a party or is threatened to be made a party to a suit or proceeding because he/she was a director, officer, or employee of Lincoln Life, as long as he/she acted in good faith and in a manner he/she reasonably believed to be in the best interests of, or act opposed to the best interests of, Lincoln Life. Certain additional conditions apply to indemnification in criminal proceedings.
In particular, separate conditions govern indemnification of directors, officers, and employees of Lincoln Life in connection with suits by, or in the right of, Lincoln Life.
Please refer to Article VII of the By-Laws of Lincoln Life (Exhibit no. f(b) hereto) for the full text of the indemnification provisions. Indemnification is permitted by, and is subject to the requirements of, Indiana law.
b) Undertaking pursuant to Rule 484 of Regulation C under the Securities Act of 1933:
Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the Registrant pursuant to the provisions described in Item 28(a) above or otherwise, the Registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer, or controlling person of the Registrant in the successful defense of any such action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue.
Item 31. Principal Underwriter
(a) Lincoln Financial Distributors, Inc. (“LFD”) currently serves as Principal Underwriter for: Lincoln National Variable Annuity Account C; Lincoln National Flexible Premium Variable Life Account D; Lincoln National Variable Annuity Account E; Lincoln National Flexible Premium Variable Life Account F; Lincoln National Flexible Premium Variable Life Account G; Lincoln National Variable Annuity Account H; Lincoln Life & Annuity Variable Annuity Account H; Lincoln Life Flexible Premium Variable Life Account J; Lincoln Life Flexible Premium Variable Life Account K; Lincoln National Variable Annuity Account L; Lincoln Life & Annuity Variable Annuity Account L; Lincoln Life Flexible Premium Variable Life Account M; Lincoln Life & Annuity Flexible Premium Variable Life Account M; Lincoln Life Variable Annuity Account N; Lincoln New York Account N for Variable Annuities; Lincoln Life Variable Annuity Account Q; Lincoln Life Flexible Premium Variable Life Account R; LLANY Separate Account R for Flexible Premium Variable Life Insurance; Lincoln Life Flexible Premium Variable Life Account S; LLANY Separate Account S for Flexible Premium Variable Life Insurance; Lincoln Life Variable Annuity Account T; Lincoln Life Variable Annuity Account W; and Lincoln Life Flexible Premium Variable Life Account Y and Lincoln Life & Annuity Flexible Premium Variable Life Account Y; Lincoln Life Variable Annuity Account JF-H; Lincoln Life Variable Annuity Account JF-I; Lincoln Life Flexible Premium Variable Life Account JF-A; Lincoln Life Flexible Premium Variable Life Account JF-C; Lincoln Life Variable Annuity Account JL-A; Lincoln Life & Annuity Flexible Premium Variable Life Account JA-B; Lincoln Variable Insurance Products Trust; Lincoln Advisors Trust.
(b) Officers and Directors of Lincoln Financial Distributors, Inc.: 
Name
Positions and Offices with Underwriter
Jason M. Gibson*
Vice President and Chief Compliance Officer
Claire H. Hanna**
Secretary
John C. Kennedy**
President, Chief Executive Officer and Director
Shantanu Mishra**
Senior Vice President and Treasurer
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
B-7
*Principal business address is 1301 South Harrison Street, Fort Wayne, IN 46802
**Principal business address is 150 N. Radnor-Chester Road, Radnor, PA 19087
(c) N/A
Item 32. Location of Accounts and Records
This information is provided in the Registrant’s most recent report on Form N-CEN.
Item 33. Management Services
Not Applicable.
Item 34. Fee Representation
Lincoln Life represents that the fees and charges deducted under the contracts, in the aggregate, are reasonable in relation to the services rendered, the expenses expected to be incurred, and the risks assumed by Lincoln Life.
B-8

SIGNATURES

(a)
As required by the Securities Act of 1933 and the Investment Company Act of 1940, the 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 11th day of December, 2023 at 12:28 pm.

Lincoln National Variable Annuity Account E
Lincoln National Variable Annuity Account H
Lincoln Life Variable Annuity Account N
 (Registrants)
By: /s/ Delson R. Campbell 
Delson R. Campbell
Vice President, The Lincoln National Life Insurance Company

Signed on its behalf, in the City of Hartford, and the State of Connecticut on this 12th day of December, 2023 at 7:04 pm.
The Lincoln National Life Insurance Company
(Depositor)

 By: /s/ Michelle Grindle
Michelle L. Grindle
(Signature-Officer of Depositor)
Vice President, The Lincoln National Life Insurance Company

Lincoln National Variable Annuity Account E (File No. 811-04882; CIK: 0000804223)

033-26032 (Amendment No. 77)

Lincoln National Variable Annuity Account H (File No. 811-05721; CIK: 0000847552)

033-27783 (Amendment No. 76)
333-63505 (Amendment No. 85)
333-175888 (Amendment No. 28)
333-18419 (Amendment No. 79)
333-135219 (Amendment No. 58)
333-181615 (Amendment No. 42)
333-35784 (Amendment No. 74)

333-212681 (Amendment No. 22)
333-61592 (Amendment No. 76)
    

Lincoln Life Variable Annuity Account N (File No. 811-08517; CIK: 0001048606)

333-36316 (Amendment No. 97)
333-149434 (Amendment No. 41)
333-174367 (Amendment No. 34)
333-40937 (Amendment No. 91)
333-170529 (Amendment No. 43)
333-181612 (Amendment No. 40)
333-61554 (Amendment No. 91)
333-170897 (Amendment No. 47)
333-186894 (Amendment No. 43)
333-135039 (Amendment No. 58)
333-172328 (Amendment No. 46)
333-212680 (Amendment No. 25)
333-138190 (Amendment No. 69)
    

(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 December 11, 2023 at 12:28 pm.

Signature
Title
 
*/s/ Ellen G. Cooper 
Ellen G. Cooper
 
President and Director
(Principal Executive Officer)
 
*/s/ Christopher M. Neczypor 
Christopher M. Neczypor
 
Executive Vice President, Chief Financial Officer, and Director
 
 
* /s/ Craig T. Beazer 
Craig T. Beazer
 
Executive Vice President and Director
 
* /s/ Jayson R. Bronchetti 
Jayson R. Bronchetti
 
Executive Vice President, Chief Investment Officer, and Director
 
* /s/ Adam M. Cohen 
Adam M. Cohen
 
Senior Vice President and Chief Accounting Officer (Principal Accounting Officer)
 
*/s/ Eric B. Wilmer 
Eric B. Wilmer
 
Assistant Vice President and Director
 
* By /s/ Delson R. Campbell, Pursuant to a Power of Attorney
       Delson R. Campbell