485BPOS 1 pea42.htm

As filed with the Securities and Exchange Commission on May 15, 2020
1933 Act Registration No. 333-141754
1940 Act Registration No. 811-08441
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-4
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
POST-EFFECTIVE AMENDMENT NO. 42
and
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940
AMENDMENT NO. 403
Lincoln Life & Annuity Variable Annuity Account H
(Exact Name of Registrant)
American Legacy III® View
LINCOLN LIFE & ANNUITY COMPANY OF NEW YORK
(Name of Depositor)
120 Madison Street, Suite 1310
Syracuse, New York 13202
(Address of Depositor’s Principal Executive Offices)
Depositor’s Telephone Number, Including Area Code: (315) 428-8400
Robert O. Sheppard, Esquire
Lincoln Life & Annuity Company of New York
120 Madison Street, Suite 1310
Syracuse, New York 13202
(Name and Address of Agent for Service)
Copy to:
Scott C. Durocher, 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 B Share
American Legacy® III C Share, American Legacy® III View
American Legacy® Shareholder’s Advantage (A Share) (contracts issued prior to May 21, 2018)

Lincoln Life Variable Annuity Account N
ChoicePlusSM, ChoicePlus Access
ChoicePlusSM II, ChoicePlusSM II Access, ChoicePlusSM II Advance
ChoicePlus AssuranceSM B Share, ChoicePlus AssuranceSM C Share
ChoicePlus AssuranceSM L Share, ChoicePlusSM Rollover
Lincoln InvestmentSolutionsSM

LINCOLN LIFE & ANNUITY COMPANY OF NEW YORK
Lincoln Life & Annuity Variable Annuity Account H
American Legacy® III B Share, American Legacy® III C Share
American Legacy® III View

Lincoln New York Account N for Variable Annuities
ChoicePlusSM, ChoicePlus Access
ChoicePlusSM II, ChoicePlusSM II Access, ChoicePlusSM II Advance
ChoicePlus AssuranceSM B Share, ChoicePlus AssuranceSM C Share
ChoicePlus AssuranceSM L Share, Lincoln InvestmentSolutionsSM


Supplement dated May 15, 2020 to the prospectus dated May 1, 2020

This supplement to your variable annuity prospectus discusses the availability of, and changes to, certain Living Benefit Riders offered under your contract. All other provisions of your prospectus remain unchanged. The supplement is for informational purposes and requires no action on your part.

Living Benefit Riders – Availability. The following Living Benefit Riders will continue to be available for election by existing Contractowners on and after May 18, 2020:

•
Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk);
•
Lincoln Market Select® Advantage;
•
Lincoln Max 6 SelectSM Advantage; and
•
4LATER® Select Advantage.

We reserve the right to discontinue offering post-issue elections of these riders at any time upon advanced written notice to you. Rider elections on or after May 18, 2020 are subject to Home Office approval if your Contract Value totals $1 million or more. Please note that your contract may not offer every rider discussed in this supplement.

If you elected Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk) prior to January 1, 2017, and you want to terminate that rider to elect Lincoln Market Select® Advantage, or if you elected 4LATER® Advantage (Managed Risk) and wish to terminate that rider to elect 4LATER® Select Advantage, we are currently waiving the five-year holding period that is required before terminating a rider. Additionally, we will no longer require a one-year waiting period before electing Lincoln Market Select® Advantage or 4LATER® Select Advantage. Other than the termination of your current rider, and the waiver of the holding period, your contract will not change in any way. Any applicable existing or future surrender charges will continue to apply, as described in your contract and this prospectus. We are doing this as a customer service to you, and there is no financial incentive being provided to you, your registered representative, or to anyone else if you decide to terminate your existing rider and elect Lincoln Market Select® Advantage or 4LATER® Select Advantage. There is no guarantee that these waivers will be offered in the future, as we reserve the right to discontinue them at any time.

Please refer to the Availability paragraphs of each rider section in your prospectus for complete details.

The following changes will also apply to your contract beginning May 18, 2020.

Living Benefit Riders – Enhancement. Under the terms of your Living Benefit Rider, you may be eligible for an increase in the Protected Income Base through an Enhancement on each Benefit Year anniversary if you meet the conditions outlined in the prospectus. For riders purchased on and after May 18, 2020, the Enhancement Rate will be reduced from 6% to 5%. Please see the specific rider section of the prospectus for complete details.

Living Benefit Riders – Lincoln Max 6 SelectSM Advantage. Protected Annual Income payments are available after the younger of you or your spouse (joint life option) reach age 59 for riders purchased on and after May 18, 2020.

Living Benefit Riders – i4LIFE® Advantage Guaranteed Income Benefit Transitions. The minimum Access Period for Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk) riders purchased on and after May 18, 2020 that are transitioned to i4LIFE® Advantage Guaranteed Income Benefit (Managed Risk) is the longer of 20 years, or the difference between your age and age 90.

A 3% assumed interest rate will be used to calculate the Regular Income Payments for all transitions to i4LIFE® Advantage Guaranteed Income Benefit (Managed Risk) if your prior rider is purchased on and after May 18, 2020.






Please retain this supplement for future reference.








PART A

The prospectus for the American Legacy III View variable annuity contracts is incorporated herein by reference to Post-Effective Amendment No. 41 (File No. 333-141754) filed on April 15, 2020.


PART B

The Statement of Additional Information for the American Legacy III View variable annuity contracts is incorporated herein by reference to Post-Effective Amendment No. 41 (File No. 333-141754) filed on April 15, 2020.





Lincoln Life & Annuity Variable Annuity Account H
PART C - OTHER INFORMATION
Item 24. Financial Statements and Exhibits
(a) List of Financial Statements
1. Part A
The Table of Condensed Financial Information is incorporated herein by reference to Post-Effective Amendment No. 41 (File No. 333-141754) filed on April 15, 2020.
2. Part B
The following financial statements for the Variable Account are incorporated herein by reference to Post-Effective Amendment No. 41 (File No. 333-141754) filed on April 15, 2020.
Statement of Assets and Liabilities - December 31, 2019
Statement of Operations - Year ended December 31, 2019
Statements of Changes in Net Assets - Years ended December 31, 2019 and 2018
Notes to Financial Statements - December 31, 2019
Report of Independent Registered Public Accounting Firm
3. Part B
The following financial statements for Lincoln Life & Annuity Company of New York are incorporated herein by reference to Post-Effective Amendment No. 41 (File No. 333-141754) filed on April 15, 2020.
Balance Sheets - Years ended December 31, 2019 and 2018
Statements of Comprehensive Income (Loss) - Years ended December 31, 2019, 2018 and 2017
Statements of Stockholder’s Equity - Years ended December 31, 2019, 2018 and 2017
Statements of Cash Flows - Years ended December 31, 2019, 2018 and 2017
Notes to Financial Statements - December 31, 2019
Report of Independent Registered Public Accounting Firm
(b) List of Exhibits
(2) Not Applicable

 

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(b) Fund Participation Agreements among Lincoln Life & Annuity Company of New York and:
(c) Rule 22c-2 Agreement between Lincoln Life & Annuity Company of New York and:
(11) Not Applicable
(12) Not Applicable
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Item 25. Directors and Officers of the Depositor
The following list contains the officers and directors of Lincoln Life & Annuity Company of New York who are engaged directly or indirectly in activities relating to Lincoln Life & Annuity Variable Annuity Account H as well as the contracts. The list also shows Lincoln Life & Annuity Company of New York's executive officers.
Name   Positions and Offices with Depositor
Lisa M. Buckingham**   Director
Ellen Cooper**   Executive Vice President, Chief Investment Officer and Director
Randal J. Freitag**   Executive Vice President, Chief Financial Officer and Director
Christopher A. Giovanni**   Senior Vice President and Treasurer
Dennis R. Glass**   President and Director
Stephen B. Harris**   Senior Vice President and Chief Ethics and Compliance Officer
George W. Henderson, III
Granville Capital
300 N. Greene Street
Greensboro, NC 27401 		  Director
Christine Janofsky**   Senior Vice President, Chief Accounting Officer and Controller
Mark E. Konen
4901 Avenue G
Austin, TX 78751 		  Director
M. Leanne Lachman
870 United Nations, Plaza, #19-E
New York, NY 10017 		  Director
Louis G. Marcoccia
Senior Vice President
Syracuse University
Crouse-Hinds Hall, Suite 620
900 S. Crouse Ave.
Syracuse, NY 13244 		  Director
Patrick S. Pittard
20 Cates Ridge
Atlanta, GA 30327 		  Director
Leon E. Roday**   Executive Vice President
Robert O. Sheppard*   Assistant Vice President, General Counsel and Secretary
Joseph D. Spada***   Vice President and Chief Compliance Officer for Separate Accounts
*Principal business address is 120 Madison Street, Suite 1310, Syracuse, NY 13202
**Principal business address is Radnor Financial Center, 150 Radnor Chester Road, Radnor, PA 19087
***Principal business address is 350 Church Street, Hartford, Connecticut 06096
Item 26. Persons Controlled by or Under Common Control with the Depositor or Registrant
See Exhibit 13 above: Lincoln National Corporation Organizational Chart.
Item 27. Number of Contractowners
As of March 31, 2020 there were 7,840 contract owners under Account H.
Item 28. Indemnification
a) Brief description of indemnification provisions.
In general, Article VII of the By-Laws of Lincoln Life & Annuity Company of New York provides that Lincoln New York 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,
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or employee of Lincoln New York, 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 New York. Certain additional conditions apply to indemnification in criminal proceedings.
In particular, separate conditions govern indemnification of directors, officers, and employees of Lincoln New York in connection with suits by, or in the right of, Lincoln New York.
Please refer to Article VII of the By-Laws of Lincoln New York (Exhibit no. 6 hereto) for the full text of the indemnification provisions. Indemnification is permitted by, and is subject to the requirements of, New York 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 29. 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
Andrew J. Bucklee*   Senior Vice President and Director
Wilford H. Fuller*   President, Chief Executive Officer and Director
Christopher A. Giovanni*   Senior Vice President and Treasurer
John C. Kennedy*   Senior Vice President, Head of Retirement Solutions Distribution, and Director
MacGregor B. Maitland*   Vice President and Chief Compliance Officer
Thomas P. O'Neill*   Senior Vice President and Chief Operating Officer
Christopher P. Potochar*   Senior Vice President and Director, Head of Finance and Strategy
Claire H. Hanna*   Secretary
*Principal Business address is Radnor Financial Center, 150 Radnor Chester Road, Radnor, PA 19087
(c) N/A
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Item 30. Location of Accounts and Records
All accounts, books, and other documents, required to be maintained by Section 31a of the 1940 Act and the Rules promulgated thereunder are maintained by The Lincoln National Life Insurance Company (“Lincoln Life”), 1300 South Clinton Street, Fort Wayne, Indiana 46802 pursuant to an administrative services agreement with Lincoln Life & Annuity Company of New York. Lincoln Life has entered into an agreement with State Street Bank and Trust Company, 801 Pennsylvania Avenue, Kansas City, MO 64105, to provide accounting services for the VAA.
Item 31. Management Services
Not Applicable.
Item 32. Undertakings
(a) Registrant undertakes that it will file a post-effective amendment to this registration statement as frequently as necessary to ensure that the audited financial statements in the registration statement are never more than 16 months old for so long as payments under the variable annuity contracts may be accepted.
(b) Registrant undertakes that it will include either (1) as part of any application to purchase a Certificate or an Individual Contract offered by the Prospectus, a space that an applicant can check to request a Statement of Additional Information, or (2) a post card or a similar written communication affixed to or included in the Prospectus that the applicant can remove to send for a Statement of Additional Information.
(c) Registrant undertakes to deliver any Statement of Additional Information and any financial statements required to be made available under this Form promptly upon written or oral request to Lincoln New York at the address or phone number listed in the Prospectus.
(d) Lincoln Life & Annuity Company of New York hereby represents that the fees and charges deducted under the contract, in the aggregate, are reasonable in relation to the services rendered, the expenses expected to be incurred, and the risks assumed by Lincoln Life & Annuity Company of New York.
(e) Registrant hereby represents that it is relying on the American Council of Life Insurance (avail. Nov. 28, 1988) no-action letter with respect to Contracts used in connection with retirement plans meeting the requirements of Section 403(b) of the Internal Revenue Code, and represents further that it will comply with the provisions of paragraphs (1) through (4) set forth in that no-action letter.


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 15th day of May, 2020 at 10:15 am.

Lincoln Life & Annuity Variable Annuity Account H (File No: 811-08441; CIK:0001045008)

333-141754 (Amendment No: 42)
333-141756 (Amendment No: 37)
333-141758 (Amendment No: 39)
  

Lincoln New York Account N for Variable Annuities (File No:811-09763; CIK:0001093278)

333-141759 (Amendment No: 39)
333-141752 (Amendment No: 41)
333-141757 (Amendment No: 40)
333-175691 (Amendment No: 22)

Lincoln Life & Annuity Variable Annuity Account H
Lincoln New York Account N for Variable Annuities
(Registrant)

By: /s/ Delson R. Campbell
Delson R. Campbell
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 15th day of May, 2020 at 10:15 am.

Lincoln Life & Annuity Company of New York
(Depositor)

By:  /s/ Michelle L. Grindle
Michelle L. Grindle
(Signature-Officer of Depositor)
Assistant Vice President, Lincoln Life & Annuity Company of New York


(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 May 15, 2020 at 10:15 am.


Signature
Title
   
*/s/ Dennis R. Glass                                                                      
Dennis R. Glass
 
President and Director
 
 
*/s/ Ellen Cooper                                                                      
Ellen Cooper
 
Executive Vice President, Chief Investment Officer and Director
 
*/s/ Randal J. Freitag                                                                      
Randal J. Freitag
 
Executive Vice President, Chief Financial Officer, and Director
 
*/s/ Lisa M. Buckingham  
Lisa M. Buckingham
 
Director
*/s/ George W. Henderson, III  
George W. Henderson, III
 
Director
*/s/ Mark E. Konen                                                                      
Mark E. Konen
 
Director
*/s/ M. Leanne Lachman  
M. Leanne Lachman
 
Director
*/s/ Louis G. Marcoccia                                                                            
Louis G. Marcoccia
 
Director
* /s/ Patrick S. Pittard                                                                      
Patrick S. Pittard
 
Director
*/s/ Delson R. Campbell, pursuant to a Power of Attorney
Delson R. Campbell




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