Strategic Partners Plus 3 - Prudential Annuities

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CONTENTSPART I: STRATEGIC PARTNERS PLUS 3 PROSPECTUS SUMMARY ............................................. 1GLOSSARY ............................................................................................ 2SUMMARY ............................................................................................ 7RISK FACTORS ........................................................................................11SUMMARY OF CONTRACT EXPENSES ...................................................................12EXPENSE EXAMPLES ...................................................................................17PART II: STRATEGIC PARTNERS PLUS 3 PROSPECTUS SECTIONS 1-11 .........................................19SECTION 1: WHAT IS THE STRATEGIC PARTNERS PLUS 3 VARIABLE ANNUITY? .............................20SHORT TERM CANCELLATION RIGHT OR “FREE LOOK” .................................................21SECTION 2: WHAT INVESTMENT OPTIONS CAN I CHOOSE? ................................................21VARIABLE INVESTMENT OPTIONS ....................................................................21FIXED INTEREST RATE OPTIONS ......................................................................34MARKET VALUE ADJUSTMENT OPTION ...............................................................35TRANSFERS AMONG OPTIONS ........................................................................36ADDITIONAL TRANSFER RESTRICTIONS ...............................................................37DOLLAR COST AVERAGING ..........................................................................38ASSET ALLOCATION PROGRAM .......................................................................38AUTO-REBALANCING ................................................................................38SCHEDULED TRANSACTIONS .........................................................................39VOTING RIGHTS .....................................................................................39SUBSTITUTION ......................................................................................39SECTION 3: WHAT KIND OF PAYMENTS WILL I RECEIVE DURING THE INCOME PHASE (ANNUITIZATION)? ....39PAYMENT PROVISIONS ..............................................................................39PAYMENT PROVISIONS WITHOUT THE GUARANTEED MINIMUM INCOME BENEFIT .......................40OPTION 1: ANNUITY PAYMENTS FOR A FIXED PERIOD ................................................40OPTION 2: LIFE INCOME ANNUITY OPTION ...........................................................40OTHER ANNUITY OPTIONS .........................................................................40TAX CONSIDERATIONS ..............................................................................40GUARANTEED MINIMUM INCOME BENEFIT ............................................................40GMIB ROLL-UP ....................................................................................41GMIB OPTION 1: SINGLE LIFE PAYOUT OPTION .......................................................42GMIB OPTION 2: JOINT LIFE PAYOUT OPTION ........................................................42HOW WE DETERMINE ANNUITY PAYMENTS ...........................................................43SECTION 4: WHAT IS THE DEATH BENEFIT? ..............................................................44BENEFICIARY .......................................................................................44CALCULATION OF THE DEATH BENEFIT ...............................................................44GUARANTEED MINIMUM DEATH BENEFIT .............................................................45GMDB STEP-UP ....................................................................................45SPECIAL RULES IF JOINT OWNERS ....................................................................45PAYOUT OPTIONS ...................................................................................45BENEFICIARY CONTINUATION OPTION ................................................................46SPOUSAL CONTINUANCE OPTION .....................................................................48SECTION 5: WHAT ARE THE LIFETIME WITHDRAWAL BENEFITS? ..........................................49LIFETIME FIVE INCOME BENEFIT .....................................................................49SPOUSAL LIFETIME FIVE INCOME BENEFIT ............................................................55HIGHEST DAILY LIFETIME FIVE INCOME BENEFIT ......................................................58HIGHEST DAILY LIFETIME SEVEN INCOME BENEFIT (HD7) ..............................................65SPOUSAL HIGHEST DAILY LIFETIME SEVEN INCOME BENEFIT (SHD7) ....................................71Contract described herein is no longer available for sale.SECTION 6: WHAT IS THE INCOME APPRECIATOR BENEFIT? ...............................................79INCOME APPRECIATOR BENEFIT ......................................................................79CALCULATION OF THE INCOME APPRECIATOR BENEFIT ................................................79INCOME APPRECIATOR BENEFIT OPTIONS DURING THE ACCUMULATION PHASE .........................80i
SECTION 7: HOW CAN I PURCHASE A STRATEGIC PARTNERS PLUS 3 CONTRACT? .......................... 81PURCHASE PAYMENTS .............................................................................. 81ALLOCATION OF PURCHASE PAYMENTS ............................................................. 82CREDITS ........................................................................................... 82CALCULATING CONTRACT VALUE ................................................................... 83SECTION 8: WHAT ARE THE EXPENSES ASSOCIATED WITH THE STRATEGIC PARTNERS PLUS 3CONTRACT? ....................................................................................... 83INSURANCE AND ADMINISTRATIVE CHARGES ........................................................ 83WITHDRAWAL CHARGE ............................................................................. 84CONTRACT MAINTENANCE CHARGE ................................................................. 85GUARANTEED MINIMUM INCOME BENEFIT CHARGE .................................................. 85INCOME APPRECIATOR BENEFIT CHARGE ............................................................ 85BENEFICIARY CONTINUATION OPTION CHARGES ..................................................... 86TAXES ATTRIBUTABLE TO PREMIUM ................................................................ 86TRANSFER FEE ..................................................................................... 86COMPANY TAXES .................................................................................. 86UNDERLYING MUTUAL FUND FEES .................................................................. 87SECTION 9: HOW CAN I ACCESS MY MONEY? ........................................................... 87WITHDRAWALS DURING THE ACCUMULATION PHASE ................................................ 87AUTOMATED WITHDRAWALS ....................................................................... 87SUSPENSION OF PAYMENTS OR TRANSFERS .......................................................... 88SECTION 10: WHAT ARE THE TAX CONSIDERATIONS ASSOCIATED WITH THE STRATEGIC PARTNERS PLUS 3CONTRACT? ....................................................................................... 88SECTION 11: OTHER INFORMATION .................................................................... 96PRUCO LIFE INSURANCE COMPANY OF NEW JERSEY .................................................. 96THE SEPARATE ACCOUNT ........................................................................... 97SALE AND DISTRIBUTION OF THE CONTRACT ........................................................ 97LITIGATION ........................................................................................ 99ASSIGNMENT ......................................................................................FINANCIAL STATEMENTS ........................................................................... 99STATEMENT OF ADDITIONAL INFORMATION ......................................................... 99HOUSEHOLDING ................................................................................... 99MARKET VALUE ADJUSTMENT FORMULA ............................................................100APPENDIX A - ACCUMULATION UNIT VALUES ............................................................A-1APPENDIX B - SELECTING THE VARIABLE ANNUITY THAT’S RIGHT FOR YOU ...............................B-1APPENDIX C - ASSET TRANSFER FORMULA UNDER HIGHEST DAILY LIFETIME FIVE BENEFIT .................C-1APPENDIX D - ASSET TRANSFER FORMULA UNDER HIGHEST DAILY LIFETIME SEVEN BENEFIT AND SPOUSALHIGHEST DAILY LIFETIME SEVEN ......................................................................D-1Contract described herein is no longer available for sale.ii
Page 2 and 3: GENERAL IMPACT OF NEW RESTRICTIONST
Page 5 and 6: The Prudential Series FundJennison
Page 7: Contract described herein is no lon
Page 11 and 12: PART I: STRATEGIC PARTNERS PLUS 3PR
Page 13 and 14: GLOSSARY continuedExcess Income/Exc
Page 15 and 16: GLOSSARY continuedProportional With
Page 17 and 18: SUMMARY FOR SECTIONS 1-11 continued
Page 19 and 20: SUMMARY FOR SECTIONS 1-11 continued
Page 21 and 22: SUMMARY OF CONTRACT EXPENSESThe pur
Page 23 and 24: SUMMARY OF CONTRACT EXPENSES contin
Page 25 and 26: SUMMARY OF CONTRACT EXPENSES contin
Page 27 and 28: EXPENSE EXAMPLES continuedExample 4
Page 29 and 30: 1: WHAT IS THE STRATEGIC PARTNERS P
Page 31 and 32: 2: WHAT INVESTMENT OPTIONS CAN ICHO
Page 49 and 50: 3: WHAT KIND OF PAYMENTS WILL IRECE
Page 55 and 56: 4: WHAT IS THE DEATH BENEFIT? conti
Page 57 and 58: 4: WHAT IS THE DEATH BENEFIT? conti
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5: WHAT ARE THE LIFETIME WITHDRAWAL
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6: WHAT IS THE INCOME APPRECIATOR B
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7: HOW CAN IPURCHASE ASTRATEGIC PAR
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8: WHAT ARE THE EXPENSES ASSOCIATED
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8: WHAT ARE THE EXPENSES ASSOCIATED
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9: HOW CAN IACCESS MY MONEY? contin
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10: WHAT ARE THE TAX CONSIDERATIONS
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11: OTHER INFORMATION continuedthe
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11: OTHER INFORMATION continuedMARK
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AccumulationUnit Value atBeginning
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Strategic PartnersAdvisorStrategic
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0% GROSS RATE OF RETURNYRSP FLEX EL
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10% GROSS RATE OF RETURNYRSP FLEX E
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The following formula, which is set
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“a” Factors for Liability Calcu
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Contributions of up to the maximum
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(2) the distribution must be made i
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Many Prudential Financial companies
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The Prudential Insurance Company of
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Strategic Partners Plus 3 - Prudential Annuities

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