PGIM RETIREWELL^™ MANAGED ACCOUNTS

PGIM DC Solutions LLC (“PGIM DC Solutions”) is an SEC-registered investment advisor, a Delaware limited liability company, and an indirect wholly owned subsidiary of Prudential Financial, Inc. (“PFI”). PGIM DC Solutions is the retirement solutions provider of PGIM, Inc., the principal asset management business of PFI. Registration with the SEC does not imply a certain level of skill or training. PFI of the United States is not affiliated in any manner with Prudential plc incorporated in the United Kingdom or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom. 

These materials are for informational or educational purposes only and are not intended as an offer or solicitation with respect to the purchase or sale of any security. The information presented is not intended as investment advice and is not a recommendation about managing or investing retirement savings. These materials do not consider individual investment objectives or financial situations. 

These materials represent the views, opinions and recommendations of the author(s) regarding the economic conditions, asset classes, securities, issuers, or financial instruments referenced herein. Such views and opinions are subject to change without notice. 

Distribution of this information to any person other than the person to whom it was originally delivered and to such person’s advisers is unauthorized, and any reproduction of this document, in whole or in part, or the disclosure of any of its contents, without PGIM’s prior written consent, is prohibited. Receipt of these materials by anyone other than the intended recipient does not establish a relationship between such person and PGIM DC Solutions LLC. 

The PGIM RetireWell^TM Advice Engine uses the investment and guaranteed income options that are available in a participant’s retirement plan to make asset allocation recommendations for the participants Managed Account. Some plans may include among their investment options Prudential-affiliated investment funds and insurance products (e.g., mutual funds, exchange-traded funds, collective investment vehicles, annuities) (“Proprietary Products”). These investment options are chosen by the plan provider, plan sponsor or another party selected by the plan sponsor. PGIM DC Solutions has no role in the selection of these investment options. Participants will pay fees to affiliates of PGIM DC Solutions if Proprietary Products are included in the plan sponsor’s investment line-up. For more complete information about an underlying fund that is available in a plan’s investment line-up, including the investment objective, risks, charges and expenses, please see current fund prospectuses or equivalent documents. 

PGIM DC Solutions bases its allocation recommendations on information provided by the participant or their agent such as the plan sponsor or recordkeeper for your account. If the participant or their agent provide inaccurate information to PGIM DC Solutions, or fail to provide material information, the quality of the allocation recommendations made by the PGIM RetireWell^TM Advice Engine will be impacted. PGIM DC Solutions also relies on each plan’s recordkeeper to execute the trades that are recommended by the PGIM RetireWell^TM Advice Engine. Operational risks arising from failed recordkeeper processes and systems could result in allocation implementation issues resulting in financial loss. 

The advice provided by PGIM DC Solutions does not consider a participant’s tax situation, indebtedness, other investments, or specific investment goals. There is no assurance that any asset allocation strategy will be successful. In addition, there can be no assurance that any market or economic scenarios, risk/return expectations or models will prove to be accurate. These materials do not purport to provide any legal, tax or accounting advice. 

A plan sponsor may elect to have its participants automatically enrolled into PGIM RetireWell^TM Managed Accounts program. This type of plan sponsor directed enrollment may be designated as a qualified default investment alternative (“QDIA”), as permitted under the Employee Retirement Income Security Act (“ERISA”). It is the plan sponsor’s responsibility to select the QDIA for plan participants, including the responsibility to determine the quality of the QDIA and reasonableness of fees. PGIM DC Solutions does not play a role in this determination. 

All investments involve risk. There is no guarantee that a participant’s Managed Account will not suffer losses or experience negative returns. Use of the term “RetireWell^TM” and any related phrase is not intended to indicate that your retirement goals will be achieved. 

There is a risk that the PGIM RetireWell^TM Advice Engine and its algorithm may include coding shortcomings or errors, issues with the quality of inputs or other similar modeling challenges. Furthermore, the algorithms supporting PGIM RetireWellTM Advice Engine make certain assumptions related to inflation rates, social security benefits, taxes, savings rate etc. These assumptions are subject to change, and some are forward looking. They may have inherent short comings that could impact our asset allocation recommendations and the performance of a participants account. 

Certain information contained in this document constitute "forward-looking statements," which can be identified by the use of forward-looking terminology such as "may", "will", "should", "expect", "anticipate", "target", "project", "estimate", "intend", "continue" or "believe" or the negatives thereof or other variations thereon or comparable terminology. Due to various risks and uncertainties, actual events or results or the actual performance of the investments may differ materially from those reflected or contemplated in such forward-looking statements. Accordingly, any projections or forecasts should be viewed as merely representative of a broad range of possible outcomes. 

Any discussion of risk management is intended to describe the PGIM DC Solutions efforts to monitor and manage risk but does not imply low risk. No investment strategy or risk management technique can guarantee returns or eliminate risk in any market environment.