LORD ABBETT
MUNICIPAL INCOME FUND
Lord Abbett
Sustainable Municipal Bond
Fund (the “Fund”)
Supplement dated
February
7
,
2025
to the
Summary Prospectus, Prospectus, and Statement of
Additional Information of the Fund,
each dated
February
1, 20
2
5
, as supplemented
Liquidation of the Fund
On
February 4, 2025
, the Board of
Directors
of Lord Abbett
Municipal Income Fund
approved a plan of
liquidation (the “Plan”) pursuant to which the Fund will be liquidated and dissolved
. It is currently
anticipated that the liquidation and dissolution of the Fund will be completed on or around
Spring
202
5
(
the
“Liquidation Date”
).
Any Fund shares outstanding on the Liquidation Date will be automatically redeemed
on the Liquidation Date. The proceeds of any such redemption will be equal to the net asset value (“NAV”)
of such shares after dividend distributions required to eliminate
any Fund
-
level taxes are made
,
the
Fund’s
expenses and liabilities have been paid or otherwise provided for as directed by the Plan
,
and the
Fund has
distributed to its shareholders of record the remaining proceeds in one or more liquidating
distributions
on
the Liquidation Date as set forth in the Plan
.
At any time before the Liquidation Date, shareholders may
:
â–Ş
Exchange their
Fund
shares for the same class of shares of another
Lord Abbett
Fund, provided
that the exchange satisfies the investment minimum of the Fund selected;
â–Ş
Redeem their Fund shares at the NAV of such shares pursuant to the procedures set forth under
“Purchases and Redemptions” in the prospectus
; or
â–Ş
Do nothing and their
Fund
shares will be redeemed on or about
the Liquidation Date
. However,
shareholders in individual retirement accounts who do not take other action will automatically have
their shares exchanged for shares of
Lord Abbett
U
.
S
.
Government
& Government Spon
sored
Enterprises
Money Market Fund on or about
the Liquidation Date
.
In connection with the liquidation of the Fund, the Fund no longer will accept purchase orders or exchange
requests
as
of
February 7
, 2025
.
Capitalized terms used in this Supplement
shall, unless otherwise defined herein, have the same meaning as given in the Prospectus and/or SAIs.
Please retain this document for your future reference.
STATEMENT OF ADDITIONAL INFORMATION
FEBRUARY 1, 2025
LORD ABBETT MUNICIPAL INCOME FUND, INC.
Lord Abbett Short Duration Tax Free Fund
Lord Abbett Sustainable Municipal
Bond Fund
CLASS
TICKER
CLASS
TICKER
CLASS
TICKER
CLASS
TICKER
A
LSDAX
F3
LSDOX
A
LASMX
F3
LSMOX
C
LSDCX
I
LISDX
C
LCSBX
I
LISMX
F
LSDFX
F
LSMFX
Lord Abbett Intermediate Tax Free Fund
Lord Abbett California Tax Free Fund
CLASS
TICKER
CLASS
TICKER
CLASS
TICKER
CLASS
TICKER
A
LISAX
F3
LOISX
A
LCFIX
F3
LCFOX
C
LISCX
I
LAIIX
C
CALAX
I
CAILX
F
LISFX
P
N/A
F
LCFFX
P
N/A
Lord Abbett National Tax Free Fund
Lord Abbett New Jersey Tax Free Fund
CLASS
TICKER
CLASS
TICKER
CLASS
TICKER
CLASS
TICKER
A
LANSX
F3
LONSX
A
LANJX
I
LINJX
C
LTNSX
I
LTNIX
F
LNJFX
P
N/A
F
LANFX
P
N/A
F3
LONJX
Lord Abbett High Income Municipal Bond
Fund
Lord Abbett New York Tax Free Fund
CLASS
TICKER
CLASS
TICKER
CLASS
TICKER
CLASS
TICKER
A
HYMAX
F3
HYMOX
A
LANYX
F3
LONYX
C
HYMCX
I
HYMIX
C
NYLAX
I
NYLIX
F
HYMFX
P
N/A
F
LNYFX
P
N/A
Lord Abbett Short Duration High Income
Municipal Bond Fund
CLASS
TICKER
CLASS
TICKER
A
SDHAX
F3
HYMQX
C
SDHCX
I
SDHIX
F
SDHFX
This SAI is not a prospectus. A prospectus may be obtained from your financial intermediary or from the
Distributor at 30 Hudson Street, Jersey City, NJ 07302-4804. This SAI is divided into two Parts - Part I
and Part II. Part I contains information that is particular to the Funds offered in this SAI, and should be
read in conjunction with the prospectus for the Funds offered in this SAI, dated February 1, 2025, as
supplemented from time to time. Part I includes information about the Funds, including investment
policies, management fees paid by the Funds, and information about other fees applicable to and
services provided to the Funds. Part II contains additional information that more generally applies to the
Lord Abbett Funds.
Each Fund’s
audited financial statements are incorporated into this SAI by reference to the Funds' most
recent Form N-CSR. The Funds' annual and semiannual reports to shareholders and Form N-CSR are
available without charge, upon request by calling 888-522-2388. In addition, you can make inquiries
through your financial intermediary.
PART I
TABLE OF CONTENTS
PAGE
1.
GLOSSARY
1-1
2.
FUND INFORMATION
2-1
3.
INVESTMENT POLICIES
3-1
4.
FUND INVESTMENTS
4-1
5.
BOARD MEMBERS
5-1
6.
INVESTMENT ADVISORY AND OTHER SERVICES, FEES, AND EXPENSES
6-1
7.
PORTFOLIO MANAGER INFORMATION
7-1
8.
SECURITIES LENDING
8-1
9.
CONTROL PERSONS AND PRINCIPAL SHAREHOLDERS
9-1
10.
FINANCIAL STATEMENTS
10-1
11.
STATE TAX CONSIDERATIONS
11-1
APPENDIX A: RISK FACTORS REGARDING INVESTMENTS IN PUERTO RICO, CALIFORNIA,
NEW JERSEY, AND NEW YORK MUNICIPAL BONDS
A-1
APPENDIX B: DESCRIPTION OF MUNICIPAL BOND RATINGS
B-1
Part I
1-1
1.
GLOSSARY
Lord Abbett Municipal Income Fund, Inc. is comprised of the following Funds:
Lord Abbett Short Duration Tax Free Fund:
Short Duration Tax Free Fund
Lord Abbett Intermediate Tax Free Fund:
Intermediate Fund
Lord Abbett National Tax Free Fund:
National Fund
Lord Abbett High Income Municipal Bond Fund:
High Income Municipal Bond Fund
Lord Abbett Short Duration High Income Municipal Bond Fund:
Short Duration High Income Municipal
Bond Fund
Lord Abbett Sustainable Municipal Bond Fund:
Sustainable Municipal Bond Fund
Lord Abbett California Tax Free Fund:
California Fund
Lord Abbett New Jersey Tax Free Fund:
New Jersey Fund
Lord Abbett New York Tax Free Fund:
New York Fund
Lord Abbett Funds
are comprised of the following management investment companies:
Lord Abbett Affiliated Fund, Inc.:
Affiliated Fund
Lord Abbett Bond Debenture Fund, Inc.:
Bond Debenture Fund
Lord Abbett Developing Growth Fund, Inc.:
Developing Growth Fund
Lord Abbett Global Fund, Inc.:
Global Fund
Lord Abbett Investment Trust:
Investment Trust
Lord Abbett Mid Cap Stock Fund, Inc.:
Mid Cap Stock Fund
Lord Abbett Municipal Income Fund, Inc.:
Municipal Income Fund
Lord Abbett Research Fund, Inc.:
Research Fund
Lord Abbett Securities Trust:
Securities Trust
Lord Abbett Series Fund, Inc.:
Series Fund
Lord Abbett Trust I:
Trust I
Lord Abbett U.S. Government & Government Sponsored Enterprises Money Market Fund, Inc.:
Money Market Fund