Lincoln National Corporation 401(k) Review & Grade
LNC Employees' 401(k) Savings Plan
Radnor, PAManagement of Companies10,554 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$10,338Employer $ per active participant
$9,006Employee $ saved per active participant
0.01%Direct admin cost, % of plan assets
$3.5BNet plan assets, end of year
$210,152Average balance per account
Score breakdown
- Employer generosity47.4 / 5095th percentile for employer $ per participant
- Low cost24.5 / 2598th percentile for low admin cost vs. same-size plans
- Employee saving11.3 / 1575th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score93 / 100 · Grade A
This plan vs. peers
Peers: all industries, plans with 10,000+ active participants (fewer than 30 industry peers) (820 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 95th |
| Lower admin cost | 98th |
| Employee saving | 75th |
| Peers that auto-enroll | 50% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Lincoln National put in about $10,338 per active participant, more than the typical peer ($2,229). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $109,105,700 |
| Participant (employee) contributions | $95,048,106 |
| Other contributions (incl. rollovers in) | $19,980,307 |
| Administrative expenses paid from the plan | $182,511 |
| Investment advisory & management fees | $139,041 |
| Benefits paid out | $359,371,446 |
| Net assets, start / end of year | $3.2B / $3.5B |
| Active participants, start / end of year | 11,126 / 9,981 |
| Participants with account balances | 16,727 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Ernst & Young |
| Employer stock held by plan | $113,237,840 |
Largest service providers (Schedule C)
| Callan Associates | $139,041 reported compensation |
| Citrin Cooperman & Company, LLP | $43,470 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251009112104NAL0011345952001, received 2025-10-09, EIN 35-1140070, plan #009, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.