497 1 fundsupp.htm FUND SUPPLEMENT

THE LINCOLN NATIONAL LIFE INSURANCE COMPANY

Lincoln National Variable Annuity Account L

Group Variable Annuity

Lincoln Life Variable Annuity Account N

Lincoln Investment SolutionsSM RIA
Lincoln Investor Advantage® RIA
Lincoln Investor Advantage® RIA Class

LINCOLN LIFE & ANNUITY COMPANY OF NEW YORK

Lincoln Life & Annuity Variable Account L

Group Variable Annuity

Supplement dated August 21, 2020 to the Prospectus dated May 1, 2020


This Supplement to your prospectus outlines a change to the investment options under your variable annuity contract. All other provisions outlined in your variable annuity prospectus remain unchanged. This Supplement is for informational purposes and requires no action on your part.


Fund Fees and Expenses: The fees and expenses for the American Century VP Balanced Fund have been updated since your May 1, 2020 prospectus and are listed below:

The following table shows the expenses charged by the fund (as a percentage of each fund’s average net assets):

 
 
Management Fees (before any waivers/
reimburse-ments)            +
 
12b-1 Fees (before any waivers/ reimburse-ments)       +
Other Expenses
(before any waivers/ reimburse-ments)       +
 
 
Acquired Fund Fees and Expenses   =
Total Expenses (before any waivers/ reimburse-ments)
Total Contractual waivers/ reimburse-ments (if any)
Total Expenses (after any waivers/ reimburse-ments)
American Century VP Balanced Fund
Class I*
0.90%
0.00%
0.01%
0.00%
0.91%
-0.04%
0.87%
* The advisor has agreed to waive 0.04 percentage points of the fund’s management fee. The advisor expects this waiver to continue until July 31, 2021 and cannot terminate it prior to such date without the approval of the Board of Directors.



Please retain this Supplement for future reference.