Prudential Premier Retirement Variable Annuities

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INVESTMENT OBJECTIVES/POLICIES AST Goldman Sachs Large-Cap Value Portfolio: seeks long-term growth of capital. The Portfolio seeks to achieve its investment objective by investing in value opportunities that the subadvisor, defines as companies with identifiable competitive advantages whose intrinsic value is not reflected in the stock price. The Portfolio invests, under normal circumstances, at least 80% of its net assets in a diversified portfolio of equity investments in large-cap U.S. issuers with public stock market capitalizations within the range of the market capitalization of companies in the Russell 1000 Value Index at the time of investment. AST Goldman Sachs Mid-Cap Growth Portfolio: seeks long-term growth of capital. The Portfolio pursues its investment objective, by investing primarily in equity securities selected for their growth potential, and normally invests at least 80% of the value of its assets in medium-sized companies. Medium-sized companies are those whose market capitalizations (measured at the time of investment) fall within the range of companies in the Russell Mid Cap Growth Index. The subadvisor seeks to identify individual companies with earnings growth potential that may not be recognized by the market at large. AST Goldman Sachs Small-Cap Value Portfolio: seeks long-term capital appreciation. The Portfolio will seek its objective through investments primarily in equity securities that are believed to be undervalued in the marketplace. The Portfolio will invest, under normal circumstances, at least 80% of the value of its assets in small capitalization companies. The Portfolio generally defines small capitalization companies as companies with market capitalizations that are within the range of the Russell 2000 Value Index at the time of purchase. AST High Yield Portfolio: seeks maximum total return, consistent with preservation of capital and prudent investment management. The Portfolio will invest, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes (measured at time of purchase) in non-investment grade high yield (also known as “junk bonds”) fixed-income investments which may be represented by forwards or derivatives such as options, futures contracts, or swap agreements. Non-investment grade investments are securities rated Ba or lower by Moody’s Investors Services, Inc. or equivalently rated by Standard & Poor’s Corporation, or Fitch, or, if unrated, determined by the subadvisor to be of comparable quality. AST Horizon Moderate Asset Allocation Portfolio: seeks the highest potential total return consistent with its specified level of risk tolerance. Under normal circumstances, at least 90% of the Portfolio’s assets will be invested in other portfolios of Advanced Series Trust (the underlying portfolios) while no more than 10% of the Portfolio’s assets may be invested in exchange traded funds (ETFs). Under normal market conditions, the Portfolio will devote from 40% to 60% of its net assets to underlying portfolios and ETFs investing primarily in equity securities, and from 40% to 60% of its net assets to underlying portfolios and ETFs investing primarily in debt securities and money market instruments. AST International Growth Portfolio: seeks long-term capital growth. Under normal circumstances, the Portfolio invests at least 80% of the value of its assets in securities of issuers that are economically tied to countries other than the United States. Although the Portfolio intends to invest at least 80% of its assets in the securities of issuers located outside the United States, it may at times invest in U.S. issuers and it may invest all of its assets in fewer than five countries or even a single country. The Portfolio looks primarily for stocks of companies whose earnings are growing at a faster rate than other companies or which offer attractive growth. 22 STYLE/ TYPE LARGE CAP VALUE MID CAP GROWTH SMALL CAP VALUE FIXED INCOME ASSET ALLOCA- TION INTER- NATIONAL EQUITY PORTFOLIO ADVISOR/ SUBADVISOR Goldman Sachs Asset Management, L.P. Goldman Sachs Asset Management, L.P. Goldman Sachs Asset Management, L.P. J.P. Morgan Investment Management, Inc.; <strong>Prudential</strong> Investment Management, Inc. Horizon Investments, LLC Jennison Associates LLC; Marsico Capital Management, LLC; William Blair & Company, LLC
INVESTMENT OBJECTIVES/POLICIES AST International Value Portfolio: seeks capital growth. The Portfolio normally invests at least 80% of the Portfolio’s investable assets in equity securities. The Portfolio will invest at least 65% of its net assets in the equity securities of companies in at least three different countries, without limit as to the amount of assets that may be invested in a single country. AST Investment Grade Bond Portfolio: seeks to maximize total return, consistent with the preservation of capital and liquidity needs. Under normal market conditions the Portfolio invests at least 80% of its investable assets in bonds. Please note that you may not make purchase payments to this Portfolio, and that this Portfolio is available only with certain living benefits. AST Jennison Large-Cap Growth Portfolio: seeks long-term growth of capital. Under normal market conditions, the Portfolio will invest at least 80% of its investable assets in the equity and equity-related securities of large-capitalization companies measured, at the time of purchase, to be within the market capitalization of the Russell 1000 ® Index. In deciding which equity securities to buy, the subadvisor will use a growth investment style and will invest in stocks it believes could experience superior sales or earnings growth, or high returns on equity and assets. Stocks are selected on a company-by-company basis using fundamental analysis. The companies in which the subadvisor will invest generally tend to have a unique market niche, a strong new product profile or superior management. AST Jennison Large-Cap Value Portfolio: seeks capital appreciation. Under normal market conditions, the Portfolio will invest at least 80% of its investable assets in the equity and equity-related securities of large-capitalization companies measured, at the time of purchase, to be within the market capitalization of the Russell 1000 ® Index. In deciding which equity securities to buy, the subadvisor will use a value investment style and will invest in common stocks that it believes are being valued at a discount to their intrinsic value, as defined by the value of their earnings, free cash flow, the value of their assets, their private market value, or some combination of these factors. AST J.P. Morgan Global Thematic Portfolio (formerly AST Horizon Growth Asset Allocation Portfolio): seeks capital appreciation consistent with its specified level of risk tolerance. The Portfolio will provide exposure to a long-term strategic asset allocation while having the flexibility to express shorter-term tactical views by capitalizing upon market opportunities globally. The Portfolio will invest across a broad range of asset classes, including, without limitation, domestic equity and debt, international and global developed equity, emerging markets equity and debt, high yield debt, convertible bonds, and real estate investment trusts. The Portfolio will invest primarily in individual securities in order to meet its investment objective and will also utilize derivative instruments for tactical positioning and risk management. Under normal circumstances, approximately 65% of the Portfolio’s net assets (ranging between 55-75% depending on market conditions) will be invested to provide exposure to equity securities and approximately 35% of its net assets (ranging between 25-45% depending on market conditions) will be invested to provide exposure to fixed-income securities. Such exposures may be obtained through: (i) the purchase of “physical” securities (e.g., common stocks, bonds, etc.); (ii) the use of derivatives (e.g., options and futures contracts on indices, securities, and commodities, currency forwards, etc.); and (iii) the purchase of certain exchange-traded funds. AST JPMorgan International Equity Portfolio: seeks capital growth. The Portfolio seeks to meet its objective by investing, under normal market conditions, at least 80% of its assets in equity securities. The Portfolio seeks to meet its investment objective by normally investing primarily in a diversified portfolio of equity securities of companies located or operating in developed non-U.S. countries and emerging markets of the world. The equity securities will ordinarily be traded on a recognized foreign securities exchange or traded in a foreign over-the-counter market in the country where the issuer is principally based, but may also be traded in other countries including the United States. 23 STYLE/ TYPE INTER- NATIONAL EQUITY FIXED INCOME LARGE CAP GROWTH LARGE CAP VALUE ASSET ALLOCATION INTER- NATIONAL EQUITY PORTFOLIO ADVISOR/ SUBADVISOR LSV Asset Management; Thornburg Investment Management, Inc. <strong>Prudential</strong> Investment Management, Inc. Jennison Associates LLC Jennison Associates LLC J.P. Morgan Investment Management, Inc. J.P. Morgan Investment Management, Inc.
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PRUCO LIFE INSURANCE COMPANY PRUCO
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UNDERLYING PORTFOLIO UNDERLYING MUT
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UNDERLYING PORTFOLIO UNDERLYING MUT
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ii. To the list of available variab
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II. NEW OPTIONAL BENEFITS This supp
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that may periodically transfer your
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Anniversary, we identify the Unadju
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Non-Lifetime Withdrawal Feature You
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▪ If annuity payments are to begi
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(iv) our receipt of Due Proof of De
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Example (assume the income basis is
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taken first from your own Account V
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While Spousal Highest Daily Lifetim
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** In this example, the first daily
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▪ Any Lifetime Withdrawal that yo
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to the death claim and the payment
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ages 59 1 ⁄2 to 64; 4.5% for ages
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Example of proportional reductions
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In general, withdrawals made from t
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certain in order to comply with the
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Upon termination of Highest Daily L
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Key Feature - Annual Income Amount
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Example of dollar-for-dollar reduct
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Highest Daily Death Benefit A Death
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Page 60 and 61: The Prudential Insurance Company of
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Page 72 and 73: In the section titled “Investment
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Page 76 and 77: Advanced Series Trust AST Academic
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Page 80 and 81: Guarantee Period: The period of tim
Page 82 and 83: C SERIES There is no CDSC or other
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Page 92 and 93: Please see “Investment Options,
Page 94 and 95: INVESTMENT OPTIONS The Investment O
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Page 108 and 109: group (Group II) our “Custom Port
Page 110 and 111: For the Long-Term MVA Option, a Gua
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Page 122 and 123: Please Note: Contracts managed by y
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Page 126 and 127: prior to age 59 1 ⁄2 if you elect
Page 128 and 129: ANNUITY OPTIONS Annuitization invol
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Page 132 and 133: Income 2.0 may be appropriate if yo
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Page 142 and 143: Example: Assuming the Target Ratio
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▪ Spousal Highest Daily Lifetime
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Required Minimum Distributions See
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▪ One Annuity Owner, where the Ow
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effective date of the benefit, the
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Highest Daily Lifetime Income 2.0 w
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▪ The Annuitant was 70 years old
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▪ Please note that if your Unadju
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The benefit automatically terminate
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(c) all Purchase Payments (includin
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▪ Both designated lives were 70 y
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Required Minimum Distributions See
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newly-elected benefit will commence
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GUARANTEED RETURN OPTION PLUS II (G
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time. The formula determines the ap
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Value” above for more details). Y
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HD GRO II uses a predetermined math
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Any amounts invested in the AST bon
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DEATH BENEFITS TRIGGERS FOR PAYMENT
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Calculation of Highest Anniversary
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A surviving spouse’s ability to c
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VALUING YOUR INVESTMENT VALUING THE
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TAX CONSIDERATIONS The tax consider
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Taxes Payable by Beneficiaries The
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A Nonqualified annuity may also be
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In any event, you must begin receiv
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ERISA Requirements ERISA (the “Em
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out of any other business we may co
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Cost Averaging, auto rebalancing, a
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Infinex Investments, Inc. ING Finan
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County, Illinois, was served on Pru
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Sub-Accounts Accumulation Unit Valu
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PREMIER RETIREMENT L SERIES Pruco L
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Sub-Accounts PREMIER RETIREMENT C S
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Annuity Comparison X Series B Serie
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The shaded values indicate the high
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holidays), plus the amount of any P
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Examples of dollar-for-dollar and p
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Required Minimum Distributions Requ
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Unadjusted Account Value and Protec
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equire a transfer to the Bond Sub-a
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to as the “LIA Amount”) if you
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the latter scenario, we determine w
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The “Periodic Value” is initial
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Amount on a dollar-for-dollar basis
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Here is the calculation: Withdrawal
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Election of and Designations under
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holidays), plus the amount of any P
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Examples of dollar-for-dollar and p
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Required Minimum Distributions Requ
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▪ If you elect this benefit and i
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Generally, the formula, which is ap
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Additional Tax Considerations If yo
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LIA Amount after the first Lifetime
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section above entitled “How Highe
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Highest Daily Auto Step-Up An autom
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Non-Lifetime Withdrawal Feature You
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apply to current participants in th
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If the formula ratio is less than a
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We reserve the right to waive the l
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If the formula ratio is less than a
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▪ T - the amount of a transfer in
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You can have a traditional IRA whet
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2. Rollovers from an employer retir
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Distributions from traditional IRAs
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income, and dividend income), pensi
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c. Made to a Beneficiary or to your
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CONTINGENT DEFERRED SALES CHARGE 1
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The Prudential Insurance Company of
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Prudential Premier Retirement Variable Annuities

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