Prudential Day One Funds are offered as insurance company separate accounts available under group variable annuity contracts issued by Prudential Retirement Insurance and Annuity Company, and as collective investment trust funds established by Prudential Trust Company.
Prudential Day One Funds are offered in the following structures: (I) Separate accounts available under group variable annuity contracts issued by Prudential Retirement Insurance Company (PRIAC), Hartford, CT, A Prudential Financial Company, and (II) Collective investment trust funds established by Prudential Trust Company, as Trustee, Pennsylvania banking corporation located in Scranton, PA, and a Prudential Financial Company. Each of PRIAC and Prudential Trust Company is solely responsible for its own contractual obligations and financial condition offers of the collective trust funds may only be made by sales officers of Prudential Trust Company.
The Prudential Day One IncomeFlex Target Funds were designed for use with Prudential IncomeFlex Target, an in-plan guaranteed retirement income product, and are available as insurance company separate accounts under group variable annuity contracts issued by Prudential Retirement Insurance and Annuity Company (PRIAC), Hartford, CT. PRIAC does not guarantee the investment performance or return on contributions to those separate accounts. Availability and terms may vary by jurisdiction, subject to regulatory approvals. Guarantees are based on claims-paying ability of the insurance company and are subject to certain limitations, terms and conditions. Annuity contracts contain exclusions, limitations, reductions of benefits and terms for keeping them in force. Contract form #GA-2020-TGWB4-0805. For more information, participants should access the participant service center or call 1-877-778-2100 for a copy of the Prudential IncomeFlex Target Important Considerations before investing. PRIAC is a Prudential Financial Company.
Participants should consider the objectives, risks, charges, and expenses of the funds and guarantee features before purchasing the product. Like all variable investments, these funds may lose value.
A participant or beneficiary may lose money by investing in the funds, including losses near and following retirement, and there is no guarantee that the funds will provide adequate retirement income.
A target date fund should not be selected based solely on age or retirement date, is not a guaranteed investment and the stated asset allocation may be subject to change.
A CIT is an investment vehicle that is sponsored by a bank or trust company and is available only to qualified retirement plans, such as 401(k) plans, and eligible government plans. An insurance company separate account is made available as an investment option under group variable annuity contracts made available to qualified retirement plans, such as 401(k) plans, and eligible government plans. Unlike mutual funds, CITs and separate accounts are exempt from Securities and Exchange Commission registration under both the Securities Act of 1933 and the Investment Company Act of 1940, but are subject to oversight by state banking or insurance regulators, as applicable. Therefore participants are generally not entitled to the protections of the federal securities laws.