How it Works

The key highlights of a National 457/LOSAP (Length of Service Award Program) are:

  1. Purpose of Plan
    1. Reward the volunteer for service to the community;
    2. Tax Deferred Income Benefits;
    3. Supplemental Retirement Plan;
  2. Tax Benefits
    1. Pre-tax contribution through sponsoring agency;
    2. Tax deferred earnings accumulate on a compound basis until withdrawn
    3. Certain taxes will be due upon withdrawal;
    4. No affect on other Pension Benefits, Social Security or IRA contributions;
  3. Contribution Limits
    1. Up to the maximum approved local limit
    2. Federal maximum annual contribution - $3,000;
  4. Eligible Participants
    1. Emergency services personnel who qualify under adopted LOSAP rules.
    2. Attaining annual active service requirements.
  5. Funds may be withdrawn (without IRS penalty), as follows:
    1. Separation from Volunteer Service;
    2. Financial Hardship;
    3. Disability;
    4. Death;
  6. Vested funds may be transferred - to a similar plan with another LOSAP plan. Funds cannot be transferred to an IRA.
  7. Investments offered - Variable Annuity (Multi-Fund®) *
    • Thirty Investment Options and Fixed Account;
    • Competitive Current Interest Rate on Fixed Account;
    • Free Transfer Privileges between Investment Options;
    • No Initial Sales Charge;
    • Low Administrative Fees;
    • Lump-Sum, Automatic Withdrawal, or Multiple Income Options Available at Separation;
For More Information Call: Sy Green, CFP, CFS
Bruce D. Linger, CFP, CRPC
LOSAP/ 457 Consultants
(800) 445-2448

Taxes will be due upon distribution. The investment return and principal value of a variable annuity will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost.

Consider the investment objectives, risks, charges and expenses of the variable product and its underlying investment options carefully before investing. The prospectus contains this and other information about the variable product and its underlying investment options. A prospectus is available by calling or writing to Sy Green or Bruce Linger as shown above. Read it carefully before investing or sending money.

Securities offered through Lincoln Financial Advisors Corp, a broker/dealer. The Multi-Fund® Variable Annuity Contract is issued by The Lincoln National Life Insurance Co. on Contract 18829 and variations thereof. Not for use in New York.
CRN200507-1002108
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