The Prudential SmartSolution IRA. An easy way to save for retirement

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1 The Prudential SmartSolution IRA An easy way to save for retirement 1

2 Individual Retirement Accounts (IRAs) are retirement accounts that you can set up on your own, even if you participate in other employer sponsored retirement plans. A Prudential SmartSolution IRA is a flexible addition to your overall retirement income strategy that can help you achieve your retirement savings goals. 2

3 With the SmartSolution IRA you get: Two ways to save When you roll over money from other retirement plans into a SmartSolution IRA, you can continue to take advantage of tax-deferred investing until it s time to start making withdrawals. Or fulfill your tax obligation up front so it s one less thing to worry about in retirement.* Personal help every step of the way Prudential retirement counselors are at your service to answer your questions and review your progress to help keep you on track to meet your goals. A variety of investments to choose from Whether you re a do-it-yourselfer or you prefer a little help, you ll find investments that meet your retirement savings and income needs. Tools that make it easier to plan and stay on track From an easy-to-use website to contributions that are automatically debited from your bank account, managing your savings is nearly effortless. *In order for distributions to be made from a Roth IRA free of penalties and federal income taxes, your Roth IRA must have been established at least five tax years before the withdrawal (period begins with the tax year for which your first contribution is made) and your distribution must be: a) made on or after the date you attain age 59½; b) made to your beneficiary or your estate after your death; c) attributable to your being disabled; or d) taken because you are a qualified first-time homebuyer (lifetime limit of $10,000). Neither Prudential Financial nor any of its representatives are tax or legal advisors and encourage you to consult your individual legal or tax advisor with any specific questions. Rollover assets may be assessed fees or other surrender charges. 3

4 You can start the journey to a more secure retirement by answering three questions. Do you want a Traditional or Roth IRA? Traditional Contributions to a Traditional IRA may also be tax deductible. That is, you may be able to subtract your annual IRA contribution from your taxable income, thereby lowering your current year s taxes. (Annual income limitations may apply.) Roth Contributions to a Roth IRA are not tax deductible. However, withdrawals from your Roth IRA both the contributions and any earnings may be income tax free.* Want your income tax advantage up front, when you make your contribution? Choose a Traditional IRA. Prefer the advantage later, when it s time to withdraw your money? Choose a Roth IRA. Both allow you to roll over your account from previous employersponsored plans and make contributions to your account at any time during the year up to the allowable limit. (Income limitations apply.) Contributions to either a Traditional or Roth IRA have potential tax advantages. That is, you don t pay annual income taxes on the earnings while your money is in the account. *In order for distributions to be made from a Roth IRA free of penalties and federal income taxes, your Roth IRA must have been established at least five tax years before the withdrawal (period begins with the tax year for which your first contribution is made) and your distribution must be: a) made on or after the date you attain age 59½; b) made to your beneficiary or your estate after your death; c) attributable to your being disabled; or d) taken because you are a qualified first-time homebuyer (lifetime limit of $10,000). Neither Prudential Financial nor any of its representatives are tax or legal advisors and encourage you to consult your individual legal or tax advisor with any specific questions. Rollover assets may be assessed fees or other surrender charges. 4

5 Would you like to choose your own investments or get a little help? Do it yourself Regardless of which type of IRA you choose, it s important to build a portfolio that is tailored to your specific retirement goal. The Prudential SmartSolution IRA offers a full range of investment solutions that can help you build a well-diversified portfolio with confidence. When choosing your own investments, financial professionals recommend selecting those that help you manage your risk and that fit your investment objectives. An effective way to do this is through Asset Allocation the process of spreading money among a variety of asset categories, such as stocks, bonds and stable value investments minimizing your reliance on any one investment. This way, if your investments in one category are performing poorly, you could have assets in another category that are performing well, and the gains in one may help offset the losses in the other. Diversification or investing in a variety of investments within each asset class (for example, large cap vs. small cap, growth vs. value, etc.) spreads risk around and helps even out the return of an asset class even though its individual investments may move up and down over time. Asset allocation and diversification work together to help manage risk. Get a little help Of course, if you re not the do-it-yourself type, you may prefer a target-date fund. Target-date funds are mutual funds that invest in a diversified, professionally managed mix of stocks, bonds and cash investments based on a specific target retirement year, typically in the fund s name. The investment mix gradually grows more conservative (less stocks/more bonds) as the target retirement date approaches, according to a schedule set by the fund manager. Keep in mind that application of asset allocation and diversification concepts does not assure a profit or protect against loss in a declining market. You can lose money by investing in securities. 5

6 Which investments will help you meet your savings goals? The SmartSolution Investment Platform: Depth of choice The Prudential SmartSolution IRA offers a well-diversified selection of over 50 investment options. They cover a wide spectrum of over 20 asset classes and sectors, including equity, fixed income, real estate and specialty securities from highly respected money managers, with a variety of management styles and investment options to help you meet your retirement income goals. And, with an automatic rebalancing feature, The Prudential SmartSolution IRA can help ensure that over time, the assets in your portfolio remain allocated in line with your original investment objectives. 1 Target Date Funds: A diversified solution A suite of target-date funds provides you with professionally crafted, well diversified portfolios based on two key investment criteria: your current age and when you plan to retire and begin accessing your retirement account. Target date funds invest in multiple underlying funds, and allocations across those funds will automatically adjust from more aggressive to more conservative approaching and into your retirement. 1 Retirement income you cannot outlive 2 Investing in the Prudential Retirement Security Annuity can help you convert your assets into a steady stream of retirement income. This may include guaranteed lifetime income, sustained potential for growth, downside market protection for retirement income and access to your market value. Guaranteed rate of return A stable value investment offers a long-term, guaranteed rate of return. 1 All investing involves various risks, such as fixed income (interest rate), default, small cap, international and sector including the possible loss of principal. Keep in mind that application of asset allocation and diversification concepts does not ensure a profit or protect against loss. You can lose money by investing in securities. 2 Guarantees are based on the claims-paying ability of the insurance company and are subject to certain limitations, terms, and conditions. Withdrawals or transfers out of the annuity proportionately reduce guaranteed values prior to locking in. After lock-in, withdrawals in excess of the lifetime annual withdrawal amount will reduce future guaranteed withdrawals proportionately and may even eliminate them. The Prudential SmartSolution IRA product invests in Prudential managed funds. Prudential Investments is a Prudential subsidiary and Prudential earns fees for managing these accounts. These fees are described in the prospectus for each fund. 6

7 Solutions for life s changes As you prepare for retirement, your employment situation may change. Prudential can help you plan for a more secure retirement with: One-on-one counseling Comprehensive online resources, educational articles and investment planning tools An employment change provides a great opportunity to review your retirement saving strategy. Here are some options you should consider. Tax-deferred growth Investment options Expenses Guidance Action required Leave your money in the plan Yes Lower cost institutional investments Regular account and investment fees apply You ll continue to have access to Prudential retirement counselors None Take your money in cash single, lump sum No N/A Taxes and penalty may apply N/A Call Prudential: 877-PRU-2100 Take your money in cash partial withdrawal or installments Only on the money that is not withdrawn N/A Taxes and penalty may apply You ll continue to have access to Prudential retirement counselors, as long as you have some money in the plan Call Prudential: 877-PRU-2100 Roll your money over to your new employer s plan Yes Potentially low cost institutional investments; choices vary Vary Possibly through new employer s plan Verify process for rolling over account to new plan with new employer Roll your money over to an IRA, such as the Prudential SmartSolution IRA Yes Choices and costs vary. Actively and passively managed funds, including target-date and stable value funds, are available with a Prudential SmartSolution IRA Vary You ll continue to have access to Prudential retirement counselors, if you open a SmartSolution IRA Contact bank or brokerage firm or contact Prudential for assistance setting up Prudential SmartSolution IRA In order for distributions to be made from a Roth IRA free of penalties and federal income taxes, your Roth IRA must have been established at least five tax years before the withdrawal (period begins with the tax year for which your first contribution is made) and your distribution must be: a) made on or after the date you attain age 59½; b) made to your beneficiary or your estate after your death; c) attributable to your being disabled; or d) taken because you are a qualified first-time homebuyer (lifetime limit of $10,000). Neither Prudential Financial nor any of its representatives are tax or legal advisors and encourage you to consult your individual legal or tax advisor with any specific questions. Rollover assets may be assessed fees or other surrender charges. 7

8 Reach a secure retirement with confidence with the Prudential SmartSolution IRA. Help is here if you need it You have an array of resources at your fingertips to help you every step of the way with useful planning and educational resources: Online With interactive financial education content on prudential.com/guidance, you can learn the fundamentals of saving for retirement, managing day-to-day finances, achieving long-term financial goals and preparing for the unexpected. By phone: 877-PRU-2100 ( ) Prudential retirement counselors can help you refine your retirement savings and income strategy over time, as your needs change. Retirement counselors* are available toll-free, Monday through Friday, from 8 a.m. to 6 p.m. ET. Prudential has been keeping its promises to individuals for more than 140 years with a focus on sound money management and superior financial strength. Prudential Financial companies include The Prudential Insurance Company of America (PICA) and Prudential Retirement Insurance and Annuity Company (PRIAC), a wholly owned subsidiary of PICA. Each is solely responsible for its financial condition and contractual obligations. *Retirement counselors are registered representatives of Prudential Investment Management Services LLC (PIMS), Newark, NJ, a Prudential Financial company. 8

9 Important Considerations The decision to roll over from your plan to an IRA needs careful consideration of the following factors: Investment Options If you remain in your former employer s plan, the investment choices are selected by a party that has a fiduciary obligation to act in your best interest. The SmartSolution IRA is not affiliated with any employer-sponsored plan or plan sponsor, and a rollover to an IRA means that you are no longer part of an employer-sponsored plan. Once assets are rolled over to an IRA, they normally cannot be rolled back to a former employer s plan. Penalty-Free Withdrawal If you leave your job between age 55 and 59½, you may be able to take penalty free withdrawals from a plan. In contrast, penalty-free withdrawals generally may not be made from an IRA until age 59½. It also may be easier to borrow from a plan than from an IRA. Protection from Creditors and Legal Judgments Generally, plan assets have unlimited protection from creditors under federal law, while IRA assets are protected in bankruptcy proceedings only. State laws vary in the protection of IRA assets in lawsuits. Required Minimum Distributions Once you reach the age of 70½, the rules for both plans and IRAs require the periodic withdrawal of certain minimum amounts, known as the required minimum distribution. If you are still working at age 70½, generally you are not required to make the required minimum distributions from your current employer s plan which may be advantageous for you if you work into your 70s. Employer Stock If you hold significantly appreciated employer stock in a plan, you should consider the negative tax consequences of rolling the stock to an IRA. If employer stock is transferred in-kind to an IRA, stock appreciation will be taxed as ordinary income upon distribution. The tax advantages of retaining employer stock in a nonqualified account should be balanced with the possibility that you may be excessively concentrated in employer stock. It can be risky to have too much employer stock in you retirement account and it may be advisable to liquidate the holdings and roll over the value to an IRA, even if it means losing long-term capital gains treatment on the stock s appreciation. 9

10 Fees and Expenses You have the option to maintain your account balance under your former employer s plan instead of rolling your account balance to an IRA. Fees associated with remaining in the plan will be different from, and are likely to be less than, the fees of the SmartSolution IRA. Both employer plans and IRAs typically involve investment-related expenses and plan or account fees. You may request a comparison of fees between your former employer s plan recordkept by Prudential and a SmartSolution IRA. Investment-related expenses may include sales loads, commissions, the expenses of any mutual funds in which assets are invested and investment advisory fees. Plan fees typically include plan administrative fees such as recordkeeping, compliance, trust fees and fees for services. IRA fees may include administrative, account set-up and custodial fees. For additional questions or explanations, please contact Prudential Retirement at 877-PRU-2100 ( ) on (1) compensation; (2) investment options; (3) penalty-free withdrawals; (4) protection from creditors and legal judgments; (5) required minimum distributions; (6) employer stock; and (7) fees and expenses. 10

11

12 280 Trumbull Street Hartford, CT prudential.com/prs Summary of Fees Account balance Annual custodial fee $100,000 and up 0.20% ($400 maximum) Under $100, % ($75 minimum) For informational or educational purposes only. This material is not intended as advice or recommendation about investing or managing your retirement savings. By sharing it, Prudential Retirement is not acting as your fiduciary as defined by the Department of Labor s Fiduciary rule or otherwise. If you need investment advice, please consult with a qualified professional. Investors should carefully consider a fund s investment objectives, risks, charges and expenses before investing or transferring out of your current retirement plan. For more complete information, please call for a free prospectus that contains this and other information about our funds. For variable insurance products, please read and consider carefully both the contract prospectus and underlying-fund prospectus before investing. You can lose money investing in securities. Shares of the funds are offered by Prudential Investment Management Services LLC (PIMS), Newark, NJ. The sale or liquidation of any stock, bond, IRA, certificate of deposit, mutual fund, annuity or other asset to fund the purchase of this product may have tax consequences, early withdrawal penalties or other costs or penalties as a result of the sale or liquidation. You or your agent may wish to consult independent or legal or financial advice before selling or liquidating any assets and prior to the purchase of any life or annuity products being solicited, offered for sale or sold. Investors should consider the contract and the underlying portfolio s investment objectives, risks, charges and expenses carefully before investing. This and other important information is contained in the prospectuses, which can be obtained by calling your Financial Professional or logging onto the Prudential Online Retirement Center. You should read the prospectuses carefully before investing. Annuity contracts contain exclusions, limitations, reductions of benefits and terms for keeping them in force. The Prudential SmartSolution IRA invests in Prudential managed funds. Prudential Investments is a Prudential subsidiary and Prudential earns fees for managing these accounts. These fees are described in the prospectus for each fund Prudential Financial, Inc. and its related entities. Prudential, the Prudential logo, the Rock symbol and Bring Your Challenges are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide ROBR /2017

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