Prudential Premier Retirement Variable Annuities

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INVESTMENT OBJECTIVES/POLICIES AST Parametric Emerging Markets Equity Portfolio: seeks long-term capital appreciation. The Portfolio normally invests at least 80% of its net assets in equity securities of issuers (i) located in emerging market countries, which are generally those not considered to be developed market countries, or (ii) included (or considered for inclusion) as emerging markets issuers in one or more broad-based market indices. Emerging market countries are generally countries not considered to be developed market countries, and therefore not included in the MSCI World Index. The Portfolio seeks to employ a topdown, disciplined and structured investment process that emphasizes broad exposure and diversification among emerging market countries, economic sectors and issuers. AST PIMCO Limited Maturity Bond Portfolio: seeks to maximize total return consistent with preservation of capital and prudent investment management. The Portfolio will invest, under normal circumstances, at least 80% of the value of its net assets in fixedincome investments, which may be represented by forwards or derivatives such as options, futures contracts, or swap agreements. The average portfolio duration normally varies within a one-to-three year time-frame based on the subadvisor’s forecast of interest rates. Portfolio holdings are concentrated in areas of the bond market (based on quality, sector, interest rate or maturity) that the subadvisor believes to be relatively undervalued. The Portfolio may invest up to 10% total assets in non-investment grade bonds which are commonly known as “junk bonds”. AST PIMCO Total Return Bond Portfolio: seeks to maximize total return consistent with preservation of capital and prudent investment management. The Portfolio will invest, under normal circumstances, at least 80% of the value of its net assets in fixed income investments, which may be represented by forwards or derivatives such as options, futures contracts, or swap agreements. The average portfolio duration normally varies within two years (+/-) of the duration of the Barclay’s Capital U.S. Aggregate Bond Index. Portfolio holdings are concentrated in areas of the bond market (based on quality, sector, interest rate or maturity) that the subadvisor believes to be relatively undervalued. The Portfolio may invest up to 10% total assets in non-investment grade bonds which are commonly known as “junk bonds”. AST Preservation Asset Allocation Portfolio: seeks to obtain a total return consistent with its specified level of risk. The Portfolio primarily invests its assets in a diversified portfolio of other mutual funds, within the Advanced Series Trust and certain affiliated money market funds. Under normal market conditions, the Portfolio will devote approximately 35% of its net assets to underlying portfolios investing primarily in equity securities (with a range of 27.5% to 42.5%), and 65% of its net assets to underlying portfolios investing primarily in debt securities and money market instruments (with a range of 57.5% to 72.5%). The Portfolio is not limited to investing exclusively in shares of the underlying portfolios and may invest in securities, exchange traded funds (ETFs), and futures contracts, swap agreements and other financial and derivative instruments. AST Prudential Core Bond Portfolio: seeks to maximize total return consistent with the long-term preservation of capital. The Portfolio will invest, under normal circumstances, at least 80% of its net assets in intermediate and long-term debt obligations and high quality money market instruments. The Portfolio will invest, under normal circumstances, at least 80% of its net assets in intermediate and long-term debt obligations that are rated investment grade by the major ratings services, or if unrated, considered to be of comparable quality by the subadvisor, and high quality money market instruments. Likewise, the Portfolio may invest up to 20% of its net assets in high-yield/high-risk debt securities (commonly known as “junk bonds”). The Portfolio also may invest up to 20% of its total assets in debt securities issued outside the U.S. by U.S. or foreign issuers, whether or not such securities are denominated in the U.S. dollar. 26 STYLE/ TYPE INTER- NATIONAL EQUITY FIXED INCOME FIXED INCOME ASSET ALLOCA- TION FIXED INCOME PORTFOLIO ADVISOR/ SUBADVISOR Parametric Portfolio Associates LLC Pacific Investment Management Company LLC (PIMCO) Pacific Investment Management Company LLC (PIMCO) Prudential Investments LLC; Quantitative Management Associates LLC Prudential Investment Management, Inc.
INVESTMENT OBJECTIVES/POLICIES AST QMA US Equity Alpha Portfolio: seeks long term capital appreciation. The Portfolio utilizes a long/short investment strategy and will normally invest at least 80% of its net assets plus borrowings in equity and equity related securities of US issuers. The Portfolio seeks to produce returns that exceed those of its benchmark index, the Russell 1000 ® , which is comprised of stocks representing more than 90% of the market cap of the US market and includes the largest 1000 securities in the Russell 3000 ® Index. AST Quantitative Modeling Portfolio: seeks a high potential return while attempting to mitigate downside risk during adverse market cycles. The Portfolio operates as a “fund-of-funds”, meaning that the Portfolio invests substantially all of its assets in a combination of other mutual funds. The assets of the Portfolio are allocated to a capital growth segment and a fixed-income segment. Under normal circumstances, approximately 75% of the Portfolio’s net assets attributable to the capital growth segment are invested in underlying portfolios that invest primarily in equity securities, while the remaining 25% of the Portfolio’s net assets attributable to the capital growth segment are invested in underlying portfolios that invest primarily in debt securities and money market instruments. All of the assets attributable to the fixed-income segment are invested in the AST Investment Grade Bond Portfolio, which in turn invests at least 80% of its assets in bonds. Portfolio assets are normally transferred between the capital growth segment and the fixed-income segment based upon the application of a quantitative model to the Portfolio's overall net asset value (NAV) per share. In general terms, the model seeks to transfer Portfolio assets from the capital growth segment to the fixed-income segment when the Portfolio’s NAV per share experiences certain declines and from the fixedincome segment to the capital growth segment when the Portfolio’s NAV per share experiences certain increases or remains flat over certain periods of time. AST Schroders Global Tactical Portfolio (formerly AST CLS Growth Asset Allocation Portfolio): seeks to outperform its blended performance benchmark. The blended benchmark is comprised of 45% Russell 3000, 12.5% MSCI EAFE (USD Hedged), 12.5% MSCI EAFE (Local), and 30% Barclays Capital U.S. Aggregate Bond Index. The Portfolio is a multi asset-class fund that allocates its assets among various regions and countries throughout the world, including the United States (but in no less than three countries). The subadvisors use various investment strategies, currency hedging, and a global tactical asset allocation strategy in order to help the Portfolio achieve its investment objective. Under normal circumstances, approximately 70% of the Portfolio’s net assets are invested to provide exposure to equity securities and approximately 30% of its net assets are invested to provide exposure to fixed-income securities. Depending on market conditions, such equity exposure may range between 60-80% of the Portfolio’s net assets and such fixed-income exposure may range between 20-40% of its net assets. AST Schroders Multi-Asset World Strategies Portfolio: seeks long-term capital appreciation. The Portfolio seeks to achieve its objective through a flexible global asset allocation approach. This approach entails investing in traditional asset classes, such as equity and fixed-income investments, and alternative asset classes, such as investments in real estate, commodities, currencies, private equity, non-investment grade bonds, Emerging Market Debt and absolute return strategies. The subadvisors seek to emphasize the management of risk and volatility. Exposure to different asset classes and investment strategies will vary over time based upon the subadvisor’s assessments of changing market, economic, financial and political factors and events. AST Small-Cap Growth Portfolio: seeks long-term capital growth. The Portfolio pursues its objective by investing, under normal circumstances, at least 80% of the value of its assets in small-capitalization companies. Small-capitalization companies are those companies with a market capitalization, at the time of purchase, no larger than the largest capitalized company included in the Russell 2000 ® Growth Index at the time of the Portfolio’s investment. 27 STYLE/ TYPE LARGE CAP BLEND ASSET ALLOCA- TION ASSET ALLOCA- TION ASSET ALLOCA- TION SMALL CAP GROWTH PORTFOLIO ADVISOR/ SUBADVISOR Quantitative Management Associates LLC Quantitative Management Associates LLC Schroder Investment Management North America Inc./ Schroder Investment Management North America Ltd. Schroder Investment Management North America Inc./ Schroder Investment Management North America Ltd. Eagle Asset Management, Inc.; Emerald Mutual Fund Advisers Trust
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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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newly-elected benefit will commence
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How Spousal Highest Daily Lifetime
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Page 60 and 61: The Prudential Insurance Company of
Page 62 and 63: COMBOSUP2 ADVANCED SERIES TRUST Sup
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Page 66 and 67: STYLE/ TYPE Asset Allocation COMBOS
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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
Page 78 and 79: DEATH BENEFITS ....................
Page 80 and 81: Guarantee Period: The period of tim
Page 82 and 83: C SERIES There is no CDSC or other
Page 84 and 85: OPTIONAL BENEFIT ANNUALIZED OPTIONA
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Page 88 and 89: UNDERLYING PORTFOLIO UNDERLYING MUT
Page 90 and 91: EXPENSE EXAMPLES These examples are
Page 92 and 93: Please see “Investment Options,
Page 94 and 95: INVESTMENT OPTIONS The Investment O
Page 96 and 97: INVESTMENT OBJECTIVES/POLICIES ADVA
Page 98 and 99: INVESTMENT OBJECTIVES/POLICIES AST
Page 108 and 109: group (Group II) our “Custom Port
Page 110 and 111: For the Long-Term MVA Option, a Gua
Page 112 and 113: FEES, CHARGES AND DEDUCTIONS In thi
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Page 116 and 117: additional Purchase Payments, unles
Page 118 and 119: Please note the following additiona
Page 120 and 121: MANAGING YOUR ACCOUNT VALUE There a
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
Page 134 and 135: subsequent Purchase Payments and wi
Page 136 and 137: make will be the first Lifetime Wit
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Page 140 and 141: transfer all amounts held in the AS
Page 142 and 143: Example: Assuming the Target Ratio
Page 144 and 145: If you elect Highest Daily Lifetime
Page 146 and 147: If the Annuity permits additional P
Page 148 and 149: If you have not made a Lifetime Wit
Page 150 and 151: ▪ Spousal Highest Daily Lifetime
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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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