Lnl Agents' 401(k) Savings Plan
Lincoln National Life Insurance Company · Radnor, PA · EIN 350472300 · Plan 006 · Form 5500 for plan year 2024
What LINCOLN NATIONAL put into the plan, per active participant
$1,068
LINCOLN NATIONAL CORP put $1,068 into this plan for each of its 390 active participants in plan year 2024. That is the whole employer side, matching money, profit sharing, non-elective and safe-harbor contributions and reallocated forfeitures together, because the Form 5500 reports them on one line, so it is not the match rate.
LINCOLN NATIONAL put in less per active participant than 89% of plans with 1,000–4,999 participants in insurance. The middle plan in that group of 206 reported $3,948. Insurance comes from business code 524140, which LINCOLN NATIONAL CORP entered on its own Form 5500. Sponsors pick that code themselves, so a code that does not describe what the employer does ranks the plan against the wrong companies.
What this figure cannot separate: how much LINCOLN NATIONAL pays, and how much it puts in
This is dollars, not a rate. A Form 5500 carries no payroll, so the figure reflects both how much the employer puts in and how much the employer pays: two plans running the same formula report different amounts when one pays better. Crossing the peer group with industry holds most of that difference still, and none of it disappears.
This is one plan year, not an average. A true-up, a plan merger or a one-off contribution moves a single year on its own.
Source: Form 5500 filing for the plan year ended December 31, 2024, received by the DOL October 9, 2025 · DOL EFAST2 ↗
The $1,068 above is the Form 5500 figure for plan year 2024, and it counts every employer dollar on one line. LINCOLN NATIONAL CORP also files a Form 11-K, which states the match formula on its own for plan year 2025: the section below reads $2,970 a year at a $49,500 salary, and the same filing states employer contributions made outside the match. That second figure is what the formula pays one worker on that salary, and not an amount either filing reports. The two figures cover different plan years and measure different things, so neither one is the other one corrected.
What the plan cost, per participant
$2.89
The plan paid $2.89 per participant in plan-paid administrative expenses in plan year 2024, cheaper than 99% of plans with 1,000–4,999 participants. The middle plan of that size paid $84.96.
A plan-paid cost this close to zero usually means the employer pays the administrative bills directly, rather than that the plan is free. Schedule H reports only what came out of plan assets, so fees the sponsor pays and fees taken inside fund expense ratios are invisible here either way.
Why a plan this big pays less per person before anything else
Bigger plans pay less per head by construction, because the same negotiated bill divides across more people. That is why this ranking sits inside the plan's own size cohort and is never taken across all plans.
Schedule H reports only what came out of plan assets. Fees the sponsor pays directly, and fees taken inside fund expense ratios, never appear here, so this is a floor and not the all-in cost.
401(k) Monitor Score
37 out of 100
Where this plan stands against plans of its size and industry on two amounts its Form 5500 reports: employer money in per active person, and plan-paid cost per person. It reads no match formula, no vesting schedule and no fund lineup, because a Form 5500 states none of them.
- What the employer put in, per active participant: $1,068. Lower than 89% of plans with 1,000–4,999 participants in insurance.
- What the plan cost, per participant: $2.89. Cheaper than 99% of plans with 1,000–4,999 participants.
On this page: the match and vesting terms · what to check next · every figure on the filing · fees itemised · the plans this one is ranked against · service providers
The match and vesting terms, from a Form 11-K
The match formula and the vesting schedule are stated in a Form 11-K, which is filed only by employers whose plan holds company stock. A Form 5500 reports neither.
What LINCOLN NATIONAL puts in
$2,970
a year, at a $49,500 salary.
The match paragraph, word for word
“Effective January 1, 2025, the Plan was amended to transition to Safe Harbor status, and, accordingly, effective as of the same date the Plan Sponsor matching contribution for eligible participants is equal to 100% of each participant’s contributions, not to exceed 6% of eligible earnings. Plan Sponsor matching contributions also include catch-up contributions made by participants who have attained age 50 before the end of the Plan year. Each payroll period, the Plan Sponsor makes a non-elective contribution equal to any difference between (i) the matching contribution the Plan Sponsor would have made if a participant’s eligible earnings (net of other applicable deductions) were sufficient to make the full amount of the pre-tax and/or Roth 401(k) contributions elected by the participant for that payroll period and (ii) the actual matching contribution made by the Plan Sponsor to the participant’s Plan account based on the participant’s pre-tax and/or Roth 401(k) contributions made to the Plan for that payroll period. In addition, the Plan Sponsor makes a true-up contribution on behalf of any participant whose aggregate matching contributions and, if applicable, non-elective contributions made by the Plan Sponsor during the Plan year are less than 100% of that participant’s pre-tax and/or Roth 401(k) contributions for the Plan year not in excess of 6% of such participant’s eligible earnings for that Plan year (the “target amount”). The amount of the true-up contribution made by the Plan Sponsor is an amount which, when added to the matching and non-elective contributions made by the Plan Sponsor to the participant’s Plan account for the Plan year, will equal the target amount. An annual “Core” contribution equal to 2% of eligible earnings was contributed by the Plan Sponsor to each eligible agent account for Plan year 2025. Beginning with Plan year 2026, the Core contribution amount will increase to 4% of eligible earnings. The Plan Sponsor Core contribution is applied to eligible earnings on an annual basis, regardless of whether the agent elects to defer earnings into the Plan. Participants receive the Plan Sponsor Core contribution the following year based on prior year eligible earnings. In order to be eligible for the Core contribution, participants must be actively employed as of the last day of the last pay period of the Plan year. In the event of termination due to death, disability, retirement or transfer to full-time employee status, the Core contribution will be based on eligible earnings up to the termination date.”
What you contribute to collect all of it
Contribute at least 6% of your pay to collect the full match.
That is $2,970 a year at a $49,500 salary, and it scales with your own.
Vesting score
100 out of 100
How fast the employer’s money becomes yours. Higher than 48% of the 253 schedules we have scored.
It measures vesting speed and nothing else. It says nothing about the size of the match, what the plan charges, or the funds inside it.
Share of the employer's money that is the worker's at hire and at each of the first 6 anniversaries: 100%, 100%, 100%, 100%, 100%, 100%, 100%. The score is the average of those 7 readings.
Vesting, word for word
“Participants’ contributions and earnings thereon are fully vested at all times. Prior to January 1, 2025, Plan Sponsor contributions other than Core contributions vested based upon years of service as defined in the Plan document as follows: Years of Service Percent Vested <2 0% 2 50% 3 or more 100% Subsequent to January 1, 2025, Plan Sponsor matching contributions and earnings thereon are fully vested at all times. For Plan Sponsor contributions other than Core contributions made prior to January 1, 2025, regardless of years of service, a participant’s unvested interest in such contributions shall become fully vested if the participant’s service terminates due to death, disability, involuntary termination other than for cause or on or after attainment of normal retirement age (60 and five years of service). Participants eligible for the Plan Sponsor Core contributions are fully vested in such contributions after two years of service. Regardless of years of service, a participant’s unvested interest in Core contributions shall become fully vested if the participant’s service terminates due to death, disability, involuntary termination other than for cause, or on or after attainment of normal retirement age.”
The plan tops the match up after year end, so contributing unevenly through the year does not cost the worker part of it.
The same match paragraph, word for word
“Effective January 1, 2025, the Plan was amended to transition to Safe Harbor status, and, accordingly, effective as of the same date the Plan Sponsor matching contribution for eligible participants is equal to 100% of each participant’s contributions, not to exceed 6% of eligible earnings. Plan Sponsor matching contributions also include catch-up contributions made by participants who have attained age 50 before the end of the Plan year. Each payroll period, the Plan Sponsor makes a non-elective contribution equal to any difference between (i) the matching contribution the Plan Sponsor would have made if a participant’s eligible earnings (net of other applicable deductions) were sufficient to make the full amount of the pre-tax and/or Roth 401(k) contributions elected by the participant for that payroll period and (ii) the actual matching contribution made by the Plan Sponsor to the participant’s Plan account based on the participant’s pre-tax and/or Roth 401(k) contributions made to the Plan for that payroll period. In addition, the Plan Sponsor makes a true-up contribution on behalf of any participant whose aggregate matching contributions and, if applicable, non-elective contributions made by the Plan Sponsor during the Plan year are less than 100% of that participant’s pre-tax and/or Roth 401(k) contributions for the Plan year not in excess of 6% of such participant’s eligible earnings for that Plan year (the “target amount”). The amount of the true-up contribution made by the Plan Sponsor is an amount which, when added to the matching and non-elective contributions made by the Plan Sponsor to the participant’s Plan account for the Plan year, will equal the target amount. An annual “Core” contribution equal to 2% of eligible earnings was contributed by the Plan Sponsor to each eligible agent account for Plan year 2025. Beginning with Plan year 2026, the Core contribution amount will increase to 4% of eligible earnings. The Plan Sponsor Core contribution is applied to eligible earnings on an annual basis, regardless of whether the agent elects to defer earnings into the Plan. Participants receive the Plan Sponsor Core contribution the following year based on prior year eligible earnings. In order to be eligible for the Core contribution, participants must be actively employed as of the last day of the last pay period of the Plan year. In the event of termination due to death, disability, retirement or transfer to full-time employee status, the Core contribution will be based on eligible earnings up to the termination date.”
The wait before the match starts and the year-end true-up appear above when the filing states them. Neither is part of the score, and a filing that is silent on one of them is not a plan without it.
What the plan costs, against plans of its size
2nd percentile
$2.89 per participant in plan-paid administrative cost, cheaper than 99% of plans with 1,000–4,999 participants.
The match, vesting and eligibility terms above are read from the Form 11-K filed by LINCOLN NATIONAL CORP, whose page states the full formula, the vesting schedule and the sentence behind each one.
What to check next
Collecting the whole match
LINCOLN NATIONAL’s Form 11-K pays the whole match at 6% of pay, which is $2,970 a year at a $49,500 salary and scales with your own. Your payslip and your recordkeeper account both show the rate you set. A rate below 6% collects less than the whole match.
That Form 11-K covers plan year 2025. The plan’s Summary Plan Description states the terms in force, and the plan administrator must provide it to participants on request.
Your own numbers are not on this page
Every figure here is the whole plan for plan year 2024, taken from one filing and divided by headcounts. Your own contribution rate, your balance and the fees taken from your account are on your recordkeeper’s site. What you may put in during a year is set by the IRS and not by the plan: this year’s limits ↗.
Key figures
| Total plan assets, end of year | $226,327,710 |
|---|---|
| Net assets | $226,327,710 |
| Participants, beginning of year | 1,015 |
| Of which active | 390 |
| Plan type | Single employer |
| Size cohortThe peer group we rank fees against. | 1,000–4,999 participants |
| Employer share of the money that went in, plan year 2024The rest came from employees, who put in $1,048,432. The share falls when employees save more, so a plan whose staff contribute heavily reads lower here through no act of the employer. It is printed as a fact and it is not part of the score. | 28% |
Plan-paid administrative expenses
The plan paid $2,936 in administrative expenses in plan year 2024, across 1,015 participants: $2.89 per participant.
| Contract administrator fees | not reported in filing |
|---|---|
| Professional fees | not reported in filing |
| Investment management fees | $2,936 |
| Other administrative fees | not reported in filing |
These are plan-paid expenses from Schedule H only. Fees the sponsor pays directly, and fees embedded in fund expense ratios, never appear here. This figure is a floor, not the all-in cost, and a low number is not “free”.
The plans this one is ranked against
Fees on this page are ranked against the 1,000–4,999 participant cohort, where the median plan pays $84.96 per participant. The sponsor files from Pennsylvania, one of 2,692 plans on file there, at a median of $127.89 per participant. Its business code places the plan in insurance, one of 1,068 on file, which run to a median of $119.27.
Plans of a similar size in Pennsylvania
| Plan | Participants | Cost per participant |
|---|---|---|
| Jako Enterprises, LLC 401(k) Profit Sharing PlanJako Enterprises, LLC | 3,252 | $9.20 |
| Agustawestland Philadelphia Corporation 401(k) Savings PlanAgustawestland Philadelphia Corp | 1,019 | $230.64 |
| Pjtc Holdings, Inc. 401(k) Savings And Profit Sharing PlanPjtc Holdings, Inc. | 1,019 | $117.39 |
| Professional Building Systems, Inc. 401(k) PlanProfessional Building Systems, Inc. | 1,013 | $90.79 |
| Hillandale Gettysburg Lp Employee Savings & Retirement PlanHillandale Gettysburg, Lp | 1,011 | $219.06 |
Service providers (Schedule C)
| Provider | Service codes | Direct comp. ($) | Indirect comp. ($) |
|---|---|---|---|
| Callan Associates | 28 | 2,936 | not reported |
Useful links
- Find a 401(k) you left at an old job ↗
The DOL's Retirement Savings Lost & Found. Free and official.
- Look up this plan's full Form 5500 ↗
The DOL's own filing search. Search by plan or sponsor name.
- Download this plan's data (CSV) ↗
Every field on this page, one row, ready for a spreadsheet.
Source
| Dataset | DOL EFAST2 Form 5500 bulk data (FOIA) |
|---|---|
| Form year | 2024 |
| Filing ACK_ID | 20251009112935NAL0006512497001 |
| Dataset last refreshed | July 28, 2026 |
Bulk dataset at askebsa.dol.gov ↗ · Look up the filing on EFAST2 ↗
Filings lag by design: a plan can file up to 9½ months after its year ends, so this is the newest data on file. Why filings lag
Cite this page
401(k) Monitor, "Lnl Agents' 401(k) Savings Plan: Form 5500 facts", from DOL EFAST2 filing 20251009112935NAL0006512497001, plan year ended December 31, 2024. 401(k) Monitor Score 37 out of 100 (exact value 37.39).