Updated 2026-03-20
Nationwide vs Lincoln Financial 401(k) Comparison
Compare Nationwide (#13, 7.3/10) and Lincoln Financial (#17, 6.9/10) side by side across fees, ratings, features, and investment options.
Overall Comparison
| Feature | Nationwide | Lincoln Financial |
|---|---|---|
| Overall Score | 7.3/10 | 6.9/10 |
| Rank | #13 | #17 |
| AUM | $250 billion | $350 billion |
| Participants | 3.5 million | 8 million |
| Plan Sponsors | 30,000+ | 10,000+ |
| Founded | 1926 | 1905 |
Ratings Comparison
| Category | Nationwide | Lincoln Financial |
|---|---|---|
| Fees & Costs | 3.4/5 | 3.3/5 |
| Investment Options | 3.5/5 | 3.8/5 |
| Customer Service | 4.0/5 | 3.9/5 |
| Mobile App | 3.4/5 | 3.4/5 |
Fee Comparison
| Fee Type | Nationwide | Lincoln Financial |
|---|---|---|
| Admin Fees | $800 - $3,500/year | Varies by plan size |
| Expense Ratios | 0.30% - 1.3% | 0.10% - 1.5% |
| Trading Fees | Plan dependent | Plan dependent |
| Advisory Fees | 0.45% - 0.95% | 0.40% - 1.0% |
Nationwide Strengths
- Strong in 403(b) and 457 plans
- Guaranteed lifetime income options
- Good public sector solutions
- Stable value fund options
Lincoln Financial Strengths
- Strong guaranteed income and annuity options
- Insurance-backed stability
- Lincoln Director platform for plan sponsors
- Managed account services through Lincoln Alliance
Rollover, Loans & Withdrawals
| Feature | Nationwide | Lincoln Financial |
|---|---|---|
| Rollover Platform | Nationwide.com | Lincoln Financial Portal |
| Loans Available | Yes | Yes |
| Withdrawal Methods | Online via Nationwide.com, Phone (877-677-3678) | Online via Lincoln Financial portal, Phone (800-454-6265), Through plan administrator |
| Distribution Options | Lump sum, Partial withdrawal, Installment payments, Guaranteed lifetime income, Rollover to IRA | Lump sum, Partial withdrawal, Annuity conversion, Installment payments, Rollover to IRA, Required Minimum Distributions |
Which Should You Choose?
Choose Nationwide if you want:
- Public sector employees
- Teachers and nonprofits
- Guaranteed income seekers
Choose Lincoln Financial if you want:
- Companies wanting guaranteed income options
- Insurance-focused employers
- Mid-size to large plans
- Annuity seekers
Our Verdict: Nationwide vs Lincoln Financial
Nationwide wins this comparison with a score of 7.3/10 vs 6.9/10. Nationwide excels with strong in 403(b) and 457 plans, making it the stronger choice for most investors in this matchup. However, the best choice ultimately depends on your specific needs, employer plan availability, and investment preferences.
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Nationwide vs Lincoln Financial: Complete 401(k) Comparison for 2026
Choosing between Nationwide and Lincoln Financial for your 401(k) is an important decision that affects your retirement savings. Nationwide offers public sector while Lincoln Financial is known for top 10 recordkeeper. In terms of fees, Nationwide charges 0.30% - 1.3% expense ratios compared to Lincoln Financial's 0.10% - 1.5%. Nationwide manages $250 billion in assets and serves 3.5 million participants, while Lincoln Financial has $350 billion AUM and 8 million participants.
Key Differences: Nationwide vs Lincoln Financial
When comparing Nationwide and Lincoln Financial, consider their core strengths: Nationwide excels with strong in 403(b) and 457 plans, while Lincoln Financial stands out for strong guaranteed income and annuity options. Both providers offer a wide range of investment options including target-date funds, index funds, and managed accounts. Nationwide's customer service rating is 4.0/5 compared to Lincoln Financial's 3.9/5. For mobile experience, Nationwide scores 3.4/5 while Lincoln Financial scores 3.4/5.
Which Provider is Right for You?
Choose Nationwide if you prioritize public sector employees. Choose Lincoln Financial if you're looking for companies wanting guaranteed income options. Your decision should also consider your employer's plan availability, fee sensitivity, desired investment options, and customer service expectations. For detailed reviews, visit our individual Nationwide and Lincoln Financial provider pages.
Frequently Asked Questions
Nationwide scores higher in our 2026 rankings with 7.3/10. Nationwide is best for public sector employees, while Lincoln Financial is best for companies wanting guaranteed income options. The right choice depends on your employer's plan and your priorities.
Nationwide charges expense ratios of 0.30% - 1.3% with admin fees of $800 - $3,500/year. Lincoln Financial charges 0.10% - 1.5% expense ratios with admin fees of Varies by plan size. Nationwide's fees rating is 3.4/5 compared to Lincoln Financial's 3.3/5.
Yes, you can roll over between Nationwide and Lincoln Financial. Nationwide uses Nationwide.com for rollovers, while Lincoln Financial uses Lincoln Financial Portal. A direct rollover avoids mandatory tax withholding. Contact your new provider to initiate the transfer.
Nationwide offers 401(k) loans. Lincoln Financial offers 401(k) loans. Both providers typically allow loans up to 50% of your vested balance or $50,000, whichever is less.
Nationwide scores 3.5/5 for investment options, while Lincoln Financial scores 3.8/5. Both offer target-date funds, index funds, and managed accounts. Nationwide's investment options include Mutual Funds, Target Date Funds, Fixed Annuities. Lincoln Financial offers Mutual Funds, Target Date Funds, Fixed Annuities.
For small businesses, consider plan minimums and per-participant costs. Nationwide is best for public sector employees, teachers and nonprofits, guaranteed income seekers. Lincoln Financial is best for companies wanting guaranteed income options, insurance-focused employers, mid-size to large plans, annuity seekers. Compare admin fees: Nationwide charges $800 - $3,500/year vs Lincoln Financial's Varies by plan size.
Pavlo Pyskunov
Managing Director & Investment Fund Director
Pavlo Pyskunov analyzes employer-sponsored retirement plans using IRS publications and DOL Form 5500 filings, helping workers maximize their 401(k) savings through data-driven guidance.
Last updated: 2026-03-20