Rule 424(b)(3) under Securities Act of 1933 File No. 333-149613

 

 

 

 

 

 

 

 

 

 

 

 

 

 

	During the Account Phase:	During the Annuity Phase:
Maximum Contract Fee Percentage (as an annual percentage of your Guaranteed Lifetime Withdrawal Base, assessed quarterly)	2.00%1	0.00%

 

 

 

 

 

 

 

Eligible Portfolio	Annual Contract Fee Percentage	Target Allocations
PMC Select Portfolio – Conservative	0.90%	Large Cap Core	Large Cap Growth	Large Cap Value	Small Cap Core	Int’l Developed Markets	REITs	Long Bonds
		0%	7.5-17.5%	7.5-17.5%	5-15%	5-15%	0%	0%
Composition		Intermediate Bonds	Int’l Bonds	Short Muni	Intermediate Muni	Long Muni	High Yield	Cash
45% equity 55% fixed		48-58%	0%	0%	0%	0%	0%	0-7%
Investment Strategy:  Seeks to provide portfolio stability and current income with modest portfolio appreciation by investing in a combination of equity and fixed-income securities in similar weights.  This portfolio is designed for investors with a need for regular income in the form of dividends and interest, as well as some desire for modest growth from the stock portion of their portfolio.   Benchmark: 10% Russell 2000, 10% MSCI EAFE, 12.5% Russell 1000 Growth, 12.5% Russell 1000 Value, 55% Lehman Aggregate Bond.

 

Eligible Portfolio	Annual Contract Fee Percentage	Target Allocations
PMC Select Portfolio – Conservative Growth	1.00%	Large Cap Core		Large Cap Growth		Large Cap Value		Small Cap Core		Int’l Developed Markets		REITs		Long Bonds
		0%		12.5-22.5%		12.5-22.5%		5-15%		10-20%		0%		0%
Composition		Intermediate Bonds		Int’l Bonds		Short Muni		Intermediate Muni		Long Muni		High Yield		Cash
60% equity 40% fixed		33-43%		0%		0%		0%		0%		0%		0-7%
Investment Strategy:  Seeks to provide portfolio growth with current income by investing in a combination of equity and fixed-income securities in similar weights.  This portfolio is designed for investors who desire capital appreciation balanced with income and portfolio stability.   Benchmark: 10% Russell 2000, 15% MSCI EAFE, 17.5% Russell 1000 Growth, 17.5% Russell 1000 Value, 40% Lehman Aggregate Bond
Eligible Portfolio	Annual Contract Fee Percentage		Target Allocations
PMC Select Portfolio – Moderate	1.10%		Large Cap Core		Large Cap Growth		Large Cap Value		Small Cap Core		Int’l Developed Markets		REITs		Long Bonds
			0%		15-25%		15-25%		5-15%		15-25%		0%		0%
Composition			Intermediate Bonds		Int’l Bonds		Short Muni		Intermediate Muni		Long Muni		High Yield		Cash
70% equity 30% fixed			23-33%		0%		0%		0%		0%		0%		0-7%
Investment Strategy:  Seeks to provide long-term appreciation with moderate current income by investing in a combination of equity and fixed-income securities, with a greater weighting to equities.  This portfolio is designed for investors with a mid to long-term investment time horizon and willing to take on some risk in pursuit of better returns.   Benchmark: 10% Russell 2000, 20% MSCI EAFE, 20% Russell 1000 Growth, 20% Russell 1000 Value, 30% Lehman Aggregate Bond

Eligible Portfolio	Annual Contract Fee Percentage	Target Allocations
PMC Select Portfolio (with Municipals) Conservative	0.90%	Large Cap Core		Large Cap Growth		Large Cap Value		Small Cap Core		Int’l Developed Markets	REITs	Long Bonds
		0%		7.5-17.5%		7.5-17.5%		5-15%		5-15%	0%	0%
Composition		Intermediate Bonds		Int’l Bonds		Short Muni		Intermediate Muni		Long Muni	High Yield	Cash
45% equity 55% fixed		0%		0%		0%		0%		48-58%	0%	0-7%
Investment Strategy:  Seeks to provide portfolio stability and current income with modest portfolio appreciation by investing in a combination of equity and fixed-income securities in similar weights. This portfolio is designed for investors with a need for regular income in the form of dividends and interest, as well as some desire for modest growth from the stock portion of their portfolio. One of the primary reasons municipal bonds are considered separately from other types of bonds is their special ability to provide tax-exempt income. Interest paid by the issuer to bond holders is often exempt from all federal taxes, as well as state or local taxes depending on the state in which the issuer is located, subject to certain restrictions.  Therefore, for taxable accounts, it can be a tax advantage to invest in municipal bonds in lieu of core fixed income investments.   Benchmark: 10% Russell 2000, 10% MSCI EAFE, 12.5% Russell 1000 Growth, 12.5% Russell 1000 Value, 55% Lehman Muni Bond Composite
Eligible Portfolio	Annual Contract Fee Percentage	Target Allocations
PMC Select Portfolio (with Municipals) Conservative Growth	1.00%	Large Cap Core	Large Cap Growth		Large Cap Value		Small Cap Core		Int’l Developed Markets		REITs	Long Bonds
		0%	12.5-22.5%		12.5-22.5%		5-15%		1.-20%		0%	0%
Composition		Intermediate Bonds	Int’l Bonds		Short Muni		Intermediate Muni		Long Muni		High Yield	Cash
60% equity 40% fixed		0%	0%		0%		0%		33-43%		0%	0-7%
Investment Strategy:   Seeks to provide portfolio growth with current income by investing in a combination of equity and fixed-income securities in similar weights.  This portfolio is designed for investors who desire capital appreciation balanced with income and portfolio stability. One of the primary reasons municipal bonds are considered separately from other types of bonds is their special ability to provide tax-exempt income. Interest paid by the issuer to bond holders is often exempt from all federal taxes, as well as state or local taxes depending on the state in which the issuer is located, subject to certain restrictions.  Therefore, for taxable accounts, it can be a tax advantage to invest in municipal bonds in lieu of core fixed income investments.   Benchmark: 10% Russell 2000, 15% MSCI EAFE, 17.5% Russell 1000 Growth, 17.5% Russell 1000 Value, 40% Lehman Muni Bond Composite

Eligible Portfolio	Annual Contract Fee Percentage		Target Allocation
PMC Select Portfolio (with Municipals) – Moderate	1.10%		Large Cap Core		Large Cap Growth		Large Cap Value	Small Cap Core		Int’l Developed Markets		REITs		Long Bonds
			0%		15-25%		15-25%	5-15%		15-25%		0%		0%
Composition			Intermediate Bonds		Int’l Bonds		Short Muni	Intermediate Muni		Long Muni		High Yield		Cash
70%  equity 30% fixed			0%		0%		0%	0%		23-33%		0%		0-7%
Investment Strategy:   Seeks to provide long-term appreciation with moderate current income by investing in a combination of equity and fixed-income securities, with a greater weighting to equities.  This portfolio is designed for investors with a mid to long-term investment time horizon and willing to take on some risk in pursuit of better returns. One of the primary reasons municipal bonds are considered separately from other types of bonds is their special ability to provide tax-exempt income. Interest paid by the issuer to bond holders is often exempt from all federal taxes, as well as state or local taxes depending on the state in which the issuer is located, subject to certain restrictions.  Therefore, for taxable accounts, it can be a tax advantage to invest in municipal bonds in lieu of core fixed income investments.   Benchmark: 10% Russell 2000, 20% MSCI EAFE, 20% Russell 1000 Growth, 20% Russell 1000 Value, 30% Lehman Muni Bond Composite
Eligible Portfolio	Annual Contract Fee Percentage	Target Allocations
PMC SIGMATM Mutual Fund Solution – Conservative	1.00%	Large Cap Core		Large Cap Growth		Large Cap Value			Small Cap Core		Int’l Developed Markets	REITs	Long Bonds
		10-20%		5-15%		0%			0-10%		5-15%	0-10%	5-15%
Composition		Intermediate Bonds		Int’l Bonds		Short Muni			Intermediate Muni		Long Muni	High Yield	Cash
45% equity 55% fixed		27-37%		0-10%		0%			0%		0%	0-10%	0-8%
Investment Strategy:   The PMC SIGMATM Mutual Fund Solution - Conservative portfolio is designed for investors who desire a globally diversified portfolio managed within well defined levels of risk. The assets in the portfolio are allocated in accordance with the target allocations shown above. The target allocations are designed to achieve the portfolio's long-term return objectives, while limiting portfolio volatility. Over time, actual allocations will vary due to market movements, contributions and withdrawals. The portfolio will periodically be rebalanced to maintain (approximately) the target allocations. The long-term objective of the portfolio is 2% growth plus inflation as measured by the Consumer Price Index after deduction of all management fees. The portfolio is managed with the goal of keeping long-term volatility levels, on average, at 45% of the volatility of the S&P 500. The portfolio's return objective does not represent an estimate of future returns. The actual returns and volatility of the portfolio may vary significantly from the objectives.   Benchmark: 10% MSCI EAFE, 35% Russell 3000, 55% Lehman Govt/Credit

Eligible Portfolio	Annual Contract Fee Percentage	Target Allocations
PMC SIGMATM Mutual Fund Solution – Conservative Growth	1.15%	Large Cap Core	Large Cap Growth	Large Cap Value	Small Cap Core	Int’l Developed Markets		REITs		Long Bonds
		15-25%	10-20%	0%	0-10%	10-20%		0-10%		0%
Composition		Intermediate Bonds	Int’l Bonds	Short Muni	Intermediate Muni	Long Muni		High Yield		Cash
60% equity 40% fixed		22-32%	0-10%	0%	0%	0%		0-10%		0-8%
Investment Strategy: The PMC SIGMATM Mutual Fund Solution - Conservative Growth portfolio is designed for investors who desire a globally diversified portfolio managed within well-defined levels of risk. The assets in the portfolio are allocated in accordance with the target allocations shown above. The target allocations are designed to achieve the portfolio's long term return objectives, while limiting portfolio volatility. Over time, actual allocations will vary due to market movements, contributions and withdrawals. The portfolio will periodically be rebalanced to maintain (approximately) the target allocations. The long-term objective of the portfolio is 3% growth plus inflation as measured by the Consumer Price Index after deduction of all management fees. The portfolio is managed with the goal of keeping long-term volatility levels, on average, at 60% of the volatility of the S&P 500. The portfolio's return objective does not represent an estimate of future returns. The actual returns and volatility of the portfolio may vary significantly from the objectives.   Benchmark: 15% MSCI EAFE, 45% Russell 3000, 40% Lehman Govt/Credit
Eligible Portfolio	Annual Contract Fee Percentage	Target Allocations
PMC SIGMATM Mutual Fund Solution – Moderate	1.30%	Large Cap Core	Large Cap Growth	Large Cap Value	Small Cap Core	Int’l Developed Markets	REITs		Long Bonds
		20-30%	10-20%	0%	0-10%	15-25%	0-10%		0%
Composition		Intermediate Bonds	Int’l Bonds	Short Muni	Intermediate Muni	Long Muni	High Yield		Cash
70% equity   30% fixed		12-22%	0-10%	0%	0%	0%	0-10%		0-8%
Investment Strategy:  The PMC  SIGMATM Mutual Fund Solution - Moderate portfolio is designed for investors who desire a globally diversified portfolio managed within well defined levels of risk. The assets in the portfolio are allocated in accordance with the target allocations shown above. The target allocations are designed to achieve the portfolio's long-term return objectives, while limiting portfolio volatility. Over time, actual allocations will vary due to market movements, contributions and withdrawals. The portfolio will periodically be rebalanced to maintain (approximately) the target allocations. The long-term objective of the portfolio is 4% growth plus inflation as measured by the Consumer Price Index after deduction of all management fees. The portfolio is managed with the goal of keeping long-term volatility levels, on average, at 70% of the volatility of the S&P 500. The portfolio's return objective does not represent an estimate of future returns. The actual returns and volatility of the portfolio may vary significantly from the objectives.   Benchmark: 20% MSCI EAFE, 50% Russell 3000, 30% Lehman Govt/Credit

Eligible Portfolio	Annual Contract Fee Percentage	Target Allocations
PMC SIGMATM Mutual Fund Solution (with Municipals)  Conservative	1.00%	Large Cap Core	Large Cap Growth	Large Cap Value	Small Cap Core	Int’l Developed Markets	REITs		Long Bonds
		10-20%	5-15%	0%	0-10%	5-15%	0-10%		0%
Composition		Intermediate Bonds	Int’l Bonds	Short Muni	Intermediate Muni	Long Muni	High Yield		Cash
45% equity 55% fixed		0%	0%	2-12%	40-50%	0%	0%		0-8%
Investment Strategy:  The PMC SIGMATM Mutual Fund Solution - Conservative (with Municipals) portfolio is designed for investors who desire a globally diversified portfolio managed within well-defined levels of risk. The assets in the portfolio are allocated in accordance with the target allocations shown above. The target allocations are designed to achieve the portfolio's long-term return objectives, while limiting portfolio volatility. Over time, actual allocations will vary due to market movements, contributions and withdrawals. The portfolio will periodically be rebalanced to maintain (approximately) the target allocations. The long-term objective of the portfolio is 2% growth plus inflation as measured by the Consumer Price Index after deduction of all management fees. The portfolio is managed with the goal of keeping long-term volatility levels, on average, at 45% of the volatility of the S&P 500. The portfolio's return objective does not represent an estimate of future returns. The actual returns and volatility of the portfolio may vary significantly from the objectives.  One of the primary reasons municipal bonds are considered separately from other types of bonds is their special ability to provide tax-exempt income. Interest paid by the issuer (i.e., the municipality, state or local government) to bond holders is often exempt from all federal taxes, as well as state or local taxes depending on the state in which the issuer is located, subject to certain restrictions.  Therefore, for taxable accounts, it can be a tax advantage to invest in municipal bonds in lieu of core fixed income investments.   Benchmark: 10% MSCI EAFE, 55% Lehman Muni Bond Composite, 35% Russell 3000.
Eligible Portfolio	Annual Contract Fee Percentage	Target Allocations
PMC SIGMATM Mutual Fund Solution (with Municipals) – Conservative Growth	1.15%	Large Cap Core	Large Cap Growth	Large Cap Value	Small Cap Core	Int’l Developed Markets	REITs		Long Bonds
		15-25%	10-20%	0%	0-10%	10-20%	0-10%		0%
Composition		Intermediate Bonds	Int’l Bonds	Short Muni	Intermediate Muni	Long Muni	High Yield		Cash
60% equity 40% fixed		0%	0%	2-12%	25-35%	0%	0%		0-8%
Investment Strategy:  The PMC  SIGMATM Mutual Fund Solution - Conservative Growth (with Municipals) portfolio is designed for investors who desire a globally diversified portfolio managed within well-defined levels of risk. The assets in the portfolio are allocated in accordance with the target allocations shown above. The target allocations are designed to achieve the portfolio's long-term return objectives, while limiting portfolio volatility. Over time, actual allocations will vary due to market movements, contributions and withdrawals. The portfolio will periodically be rebalanced to maintain (approximately) the target allocations. The long-term objective of the portfolio is 3% growth plus inflation as measured by the Consumer Price Index after deduction of all management fees. The portfolio is managed with the goal of keeping long-term volatility levels, on average, at 60% of the volatility of the S&P 500. The portfolio's return objective does not represent an estimate of future returns. The actual returns and volatility of the portfolio may vary significantly from the objectives. One of the primary reasons municipal bonds are considered separately from other types of bonds is their special ability to provide tax-exempt income. Interest paid by the issuer (i.e., the municipality, state or local government) to bond holders is often exempt from all federal taxes, as well as state or local taxes depending on the state in which the issuer is located, subject to certain restrictions.  Therefore, for taxable accounts, it can be a tax advantage to invest in municipal bonds in lieu of core fixed income investments.   Benchmark: 10% MSCI EAFE, 55% Lehman Muni Bond Composite, 35% Russell 3000

 

Eligible Portfolio	Annual Contract Fee Percentage	Target Allocations
PMC SIGMATM Mutual Fund Solution (with Municipals) – Moderate	1.30%	Large Cap Core	Large Cap Growth	Large Cap Value	Small Cap Core	Int’l Developed Markets	REITs	Long Bonds
		20-30%	10-20%	0%	0-10%	15-25%	0-10%	0%
Composition		Intermediate Bonds	Int’l Bonds	Short Muni	Intermediate Muni	Long Muni	High Yield	Cash
70% equity 30% fixed		0%	0%	0%	22-32%	0%	0%	0-8%
Investment Strategy:   The PMC SIGMATM Mutual Fund Solution - Moderate (with Municipals) portfolio is designed for investors who desire a globally diversified portfolio managed within well-defined levels of risk. The assets in the portfolio are allocated in accordance with the target allocations shown above. The target allocations are designed to achieve the portfolio's long term return objectives, while limiting portfolio volatility. Over time, actual allocations will vary due to market movements, contributions and withdrawals. The portfolio will periodically be rebalanced to maintain (approximately) the target allocations. The long-term objective of the portfolio is 4% growth plus inflation as measured by the Consumer Price Index after deduction of all management fees. The portfolio is managed with the goal of keeping long-term volatility levels, on average, at 70% of the volatility of the S&P 500. The portfolio's return objective does not represent an estimate of future returns. The actual returns and volatility of the portfolio may vary significantly from the objectives. One of the primary reasons municipal bonds are considered separately from other types of bonds is their special ability to provide tax-exempt income. Interest paid by the issuer (i.e., the municipality, state or local government) to bond holders is often exempt from all federal taxes, as well as state or local taxes depending on the state in which the issuer is located, subject to certain restrictions.  Therefore, for taxable accounts, it can be a tax advantage to invest in municipal bonds in lieu of core fixed income investments.   Benchmark: 20% MSCI EAFE, 30% Lehman Muni Bond Composite, 50% Russell 3000