RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE: LNC) today announced the introduction of Lincoln IRA Income Plus^SM, a solution that is specifically designed to help savers maximize their retirement income on qualified savings — or the money they’ve saved in tax-deferred retirement accounts such as IRAs. Lincoln IRA Income Plus^SM is an optional benefit available with Lincoln variable annuities for an additional cost and is designed to help maximize retirement income earlier in retirement years.

“This is a very compelling option that helps clients looking for ways to maximize their retirement income taken from their tax-deferred accounts,” says John Kennedy, head of Retirement Solutions Distribution at Lincoln Financial Distributors. “This product furthers our commitment to building out a broad portfolio that provides today’s savers with competitive options for growth and income as they integrate Lincoln variable annuities into their portfolios.”

LIMRA Secure Retirement Institute research on the state of retirement shows that current retirees are conservative about withdrawing from the assets they’ve saved, and 4 in 10 pre-retirees are worried about running out of money.¹ In fact, the majority of retirees take withdrawals from their qualified, or tax-deferred, savings only to satisfy their required minimum distributions (RMDs), the amount that must be withdrawn from qualified accounts once they reach age 70½.

“Today’s retirees look to remain invested in the market, allowing their money to continue to grow. But at the same time, they look for protected income that an annuity with optional benefits can help provide,” said Brian Kroll, head of Annuity Solutions at Lincoln Financial Group. “This new benefit allows them to use a variable annuity with growth and income protection to better support their income needs in the early years of their retirement.”

Variable annuities are long-term investment products that offer a lifetime income stream, options for guaranteed growth and income (available for an additional charge), and death benefit protection. They are subject to market fluctuation, investment risk, and possible loss of principal, and have fees and charges.

For more information about the Lincoln IRA Income Plus^SM solution, please visit this site.

Disclosures:

Lincoln Financial Group^® affiliates, their distributors, and their respective employees, representatives, and/or insurance agents do not provide tax, accounting, or legal advice. Please consult an independent advisor as to any tax, accounting, or legal statements made herein.

Variable annuities are long­term investment products designed for retirement purposes and are subject to market fluctuation, investment risk, and possible loss of principal. Variable annuities contain both investment and insurance components and have fees and charges, including mortality and expense, administrative, and advisory fees. Optional features are available for an additional charge.

Investors are advised to consider the investment objectives, risks, and charges and expenses of the variable annuity and its underlying investment options carefully before investing. The applicable prospectuses contain this and other important information about the variable annuity and its underlying investment options. Please call 888-868-2583 for free prospectuses. Read them carefully before investing or sending money. Products and features are subject to state availability.

Lincoln variable annuities are issued by The Lincoln National Life Insurance Company, Fort Wayne, IN, and distributed by Lincoln Financial Distributors, Inc., a broker­dealer. The Lincoln National Life Insurance Company does not solicit business in the state of New York, nor is it authorized to do so.

All contract and rider guarantees, including those for optional benefits, are backed by the claims-paying ability of the issuing insurance company. They are not backed by any entity other than the issuing company affiliates, and none makes any representations or guarantees regarding the claims-paying ability of the issuer.

There is no additional tax­deferral benefit for an annuity contract purchased in an IRA or other tax­qualified plan.

All features and products may not be available in all states or through all firms.

Lincoln Financial Group is the marketing name for Lincoln National Corporation and its affiliates. Affiliates are separately responsible for their own financial and contractual obligations.

About Lincoln Financial Group

Lincoln Financial Group provides advice and solutions that help empower people to take charge of their financial lives with confidence and optimism. Today, more than 17 million customers trust our retirement, insurance and wealth protection expertise to help address their lifestyle, savings and income goals, as well as to guard against long-term care expenses. Headquartered in Radnor, Pennsylvania, Lincoln Financial Group is the marketing name for Lincoln National Corporation (NYSE:LNC) and its affiliates. The company had $238 billion in assets under management as of December 31, 2018. Lincoln Financial Group is a committed corporate citizen included on major sustainability indices including the Dow Jones Sustainability Index North America and FTSE4Good. Additionally, Lincoln is dedicated to upholding a diverse and inclusive organization and was recognized by Forbes as one of the Best Large Employers, Best Employers for Diversity, and Best Employers for Women and received a perfect score of 100 percent in 2018 on both the Corporate Equality Index and Disability Equality Index. Learn more at: LincolnFinancial.com. Follow us on Facebook, Twitter, LinkedIn, and Instagram. Sign up for email alerts at http://newsroom.lfg.com.

¹ LIMRA Secure Retirement Institute, The Retirement Income Reference Book, Fourth Edition, 2018.

LCN-2408956-02041