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Contracts issued by Hartford Life Insurance Company. Contracts are administered by Massachusetts Mutual Life Insurance Company.

© 2014 Massachusetts Mutual Life Insurance Company, Springfield, MA 01111-0001. All rights reserved. www.massmutual.com. MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) [of which Retirement Services is a division] and its affiliated companies and sales representatives.

American Century Equity Income Inv Opt .................................................................1 American Funds EuroPacific Growth Inv Opt ............................................................2 Domini Social Equity Inv Opt ....................................................................................3 Dreyfus Bond Market Index Inv Opt ..........................................................................4 Dreyfus MidCap Index Inv Opt ..................................................................................5 Dreyfus S&P 500 Index Inv Opt ................................................................................6 Dreyfus Small Cap Stock Index Inv Opt ....................................................................7 Franklin Growth Inv Opt ............................................................................................8 General Account Inv Opt ...........................................................................................9 Goldman Sachs Small Cap Value Inv Opt ...............................................................10 Invesco Developing Markets Inv Opt ......................................................................11 Invesco Small Cap Equity Inv Opt ...........................................................................12 JPMorgan Prime Money Market Inv Opt ................................................................13 Loomis Sayles Bond Inv Opt ..................................................................................14 Lord Abbett Value Opportunities Inv Opt ................................................................15 MFS International Value Inv Opt .............................................................................16 MFS New Discovery Inv Opt ...................................................................................17 MM RetireSMART 2015 Inv Opt .............................................................................18 MM RetireSMART 2025 Inv Opt .............................................................................19 MM RetireSMART 2035 Inv Opt .............................................................................20 MM RetireSMART 2045 Inv Opt .............................................................................21 MM RetireSMART In Retirement Inv Opt ................................................................22 Oppenheimer International Growth Inv Opt ............................................................23 PIMCO Total Return Inv Opt ...................................................................................24 Prudential Jennison Natural Resources Inv Opt .....................................................25 Templeton Global Bond Inv Opt ..............................................................................26 Victory Sycamore Established Value Inv Opt ..........................................................27

State of New Jersey 401(a) ABP Table of Contents

Ve

American Century Equity Income Investment Option

Processing and publication dates vary by fund company resulting in potential variations in “as of” dates. Information contained herein is subject to change at any time, and may vary based on underlying fund and/or share class considerations (if applicable). Certain sections, if shown, may not add up to 100% due to rounding. Morningstar Category: identifies funds based on investment styles as measured by their underlying portfolio holdings/statistics over 3 years. Investment options can move into other categories, or Morningstar may change their classification methodology. © 2016 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. © 2016 Massachusetts Mutual Life Insurance Company, Springfield, MA 01111-0001. All rights reserved. www.massmutual.com. MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) [of which Retirement Services is a division] and its affiliated companies and sales representatives. RS-37175-00. © 2016 Massachusetts Mutual Life Insurance Company, Springfield, MA 01111-0001. All rights reserved. www.massmutual.com. MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) [of which Retirement Services is a division] and its affiliated companies and sales representatives. © 2016 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. © 2016 Massachusetts Mutual Life Insurance Company, Springfield, MA 01111-0001. All rights reserved. www.massmutual.com. MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) [of which Retirement Services is a division] and its affiliated companies and sales representatives.

_Risk/Return Spectrum

Stable Value/Money Market Bond Asset Allocation/

BalancedLarge Cap Mid Cap Small Cap International/

Global Specialty

_Volatility Prof le i

The volatility profile is a measure of the level of risk of the underlying fund and is based on a ranking of the three year standard deviation of the fund’s performance. The ranking is compared against other funds within the same broad category group. The higher the volatility, the higher the variation in returns.

_Strategy

_Portfolio Statistics As of 12/31/2015

Inception Date: 8/1/1994 Net Assets ($ in millions): $9,818.78 Number of Bond Holdings: 2 Number of Stock Holdings: 66

Investment Advisor: American Century Investment Management Inc

Portfolio Manager: Phillip Davidson Scott A. Moore

This investment option is available to your plan through a group variable contract offered to fund retirement programs. Your plan invests in the separate account which invests directly in the mutual fund.

The investment seeks current income; capital appreciation is a secondary objective. The fund invests in equity securities of companies with a favorable income-paying history that has prospects for income payments to continue or increase. The portfolio managers also look for equity securities of companies that they believe are undervalued and have the potential for an increase in price. The fund may invest a portion of its assets in foreign securities when these securities meet the portfolio managers' standards of selection.

Large

Mid

Small

Value Blend Growth

VRU Code: 85

Morningstar Category Large Value

Morningstar Style Box

As of 12/31/2015

Asset Allocation % Assets

Stock .........................................................73.20 Foreign Stock ..............................................3.94 Bond ........................................................... 3.95 Foreign Bond ...............................................0.00 Preferred ..................................................... 9.98 Convertible ..................................................4.70 Cash ............................................................1.68 Other ........................................................... 2.55 Total 100.00% Largest Holdings % Assets

iShares Russell 1000 Value ........................ 5.01 Bk Amer Pfd ................................................4.59 Wells Fargo & Co, San Francisco Ca Pfd .... 4.18 Exxon Mobil Corporation ............................ 3.74 Johnson & Johnson ....................................3.15 Microchip Tech 144A Cv 1.625% ................3.14 Sysco Corp ................................................. 2.85 PepsiCo Inc .................................................2.77 Procter & Gamble Co ..................................2.75 Pfizer Inc .....................................................2.51 Total 34.69% Diversification % Assets

Basic Materials ............................................3.11 Consumer Cyclical ...................................... 4.40 Financial Services ..................................... 14.66 Real Estate .................................................. 0.34 Consumer Defensive ................................. 18.38 Healthcare ................................................. 13.85 Utilities ......................................................11.03 Communication Services ............................ 2.39 Energy .......................................................16.56 Industrials ................................................... 9.00 Technology ..................................................6.27 Total 99.99%

Publication Date 2Q 2016

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American Funds EuroPacific Growth Investment Option





Global Specialty

Investments made outside the United States involve special risks, such as currency fluctuations, political instability, differing securities regulations and periods of illiquidity.



_Strategy


Inception Date: 4/16/1984 Net Assets ($ in millions): $123,018.25 Number of Bond Holdings: 6 Number of Stock Holdings: 265

Investment Advisor: Capital Research and Management Company

Portfolio Manager: Team Managed


The investment seeks long-term growth of capital. The fund invests primarily in common stocks of issuers in Europe and the Pacific Basin that the investment adviser believes have the potential for growth. Growth stocks are stocks that the investment adviser believes have the potential for above-average capital appreciation. It normally invests at least 80% of its net assets in securities of issuers in Europe and the Pacific Basin. The fund may invest a portion of its assets in common stocks and other securities of companies in emerging markets.

VRU Code: 143

Morningstar Category Foreign Large Growth

As of 3/31/2016


Stock ...........................................................0.74 Foreign Stock ............................................85.36 Bond ........................................................... 0.34 Foreign Bond ...............................................0.22 Preferred ..................................................... 0.15 Convertible ..................................................0.00 Cash ............................................................7.96 Other ........................................................... 5.24 Total 100.01% Largest Holdings % Assets

Novo Nordisk A/S B .................................... 4.55 Novartis AG .................................................2.07 Prudential PLC ............................................ 1.73 Baidu Inc ADR .............................................1.68 Associated British Foods PLC ..................... 1.68 AIA Group Ltd ............................................. 1.67 HDFC Bank Ltd ............................................1.62 Alibaba Group Holding Ltd ADR ................. 1.61 Taiwan Semiconductor Manufacturing Co Ltd 1.56 British American Tobacco PLC ....................1.48 Total 19.65% Diversification % Assets

United Kingdom ........................................ 14.09 Japan ........................................................ 11.89 China ...........................................................7.36 India ............................................................7.12 France ......................................................... 6.86 Hong Kong ..................................................5.15 Denmark ..................................................... 5.11 Switzerland ................................................. 4.72 Germany ..................................................... 3.58 Canada ........................................................ 3.00 Total 68.88%


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Domini Social Equity Investment Option





Global Specialty



_Strategy


Inception Date: 6/3/1991 Net Assets ($ in millions): $909.14 Number of Stock Holdings: 126

Investment Advisor: Domini Social Investments LLC

Investment Sub Advisor: Wellington Management Company LLP

Portfolio Manager: Mammen Chally


The investment seeks to provide its shareholders with long-term total return. The fund primarily invests in the equity securities of mid- and large-capitalization U.S. companies. Under normal circumstances, at least 80% of the fund's assets will be invested in equity securities and related investments with similar economic characteristics including derivative instruments such as futures and options. It may also invest in companies organized or traded outside the U.S. (or in equivalent shares such as ADRs).

Large

Mid

Small

Value Blend Growth

VRU Code: 417

Morningstar Category Large Blend


As of 12/31/2015



Apple Inc .....................................................5.78 Microsoft Corp ............................................4.88 Alphabet Inc A .............................................3.33 Merck & Co Inc ...........................................3.29 Amazon.com Inc ......................................... 3.20 Gilead Sciences Inc .....................................3.03 Consolidated Edison Inc ............................. 2.80 MetLife Inc ..................................................2.67 AT&T Inc ..................................................... 2.65 The Kroger Co .............................................2.64 Total 34.27% Diversification % Assets

Basic Materials ............................................3.62 Consumer Cyclical .................................... 12.93 Financial Services ..................................... 14.15 Real Estate .................................................. 4.05 Consumer Defensive ................................... 8.62 Healthcare ................................................. 13.44 Utilities ........................................................2.85 Communication Services ............................ 6.03 Energy .........................................................3.54 Industrials ................................................... 8.30 Technology ................................................22.46 Total 99.99%


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Dreyfus Bond Market Index Investment Option





Global Specialty

Securities rated ''BB'' and below are commonly referred to as ''high yield, high risk securities'' or ''junk bonds.'' High yield bonds generally involve greater credit risk and may be more volatile than investment grade bonds.



_Strategy


Inception Date: 4/28/1994 Net Assets ($ in millions): $2,591.63 Number of Bond Holdings: 2663

Investment Advisor: Dreyfus Corporation Portfolio Manager: Laurie A. Carroll


The investment seeks to match the total return of the Barclays U.S. Aggregate Bond Index. To pursue its goal, the fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in bonds that are included in the Barclays U.S. Aggregate Bond Index (or other instruments with similar economic characteristics). The Barclays U.S. Aggregate Bond Index is a broad-based, unmanaged index that covers the U.S. dollar-denominated, investment grade (Baa/BBB or higher), fixed-rate, taxable bond market.

VRU Code: 136

Morningstar Category Intermediate-Term Bond

As of 3/31/2016


Stock ...........................................................0.00 Foreign Stock ..............................................0.00 Bond ......................................................... 84.14 Foreign Bond ...............................................8.33 Preferred ..................................................... 0.00 Convertible ..................................................0.04 Cash ............................................................7.49 Other ........................................................... 0.01 Total 100.01% Largest Holdings % Assets

Ginnie Mae Jumbos TBA 3.5% 2046-04-01 1.84 FNMA .......................................................... 1.26 FHLMC 3.5% ...............................................0.79 Ginnie Mae Jumbos TBA 3% 2046-04-01 .. 0.71 GNMA ......................................................... 0.70 FNMA .......................................................... 0.70 US Treasury Note 2.25% ............................ 0.49 US Treasury Note 2% ................................. 0.43 US Treasury Note 2% ................................. 0.42 US Treasury Note 2.75% ............................ 0.40 Total 7.74%


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Dreyfus MidCap Index Investment Option





Global Specialty

Mid-cap investing generally have higher risk and return characteristics than large-company stocks.



_Strategy


Inception Date: 6/19/1991 Net Assets ($ in millions): $3,142.84 Number of Stock Holdings: 401

Investment Advisor: Dreyfus Corporation Portfolio Manager: Thomas Durante


The investment seeks to match the performance of the Standard & Poor's® MidCap 400 Index. To pursue its goal, the fund generally is fully invested in stocks included in the S&P® MidCap 400 Index and in futures whose performance is tied to the index. It generally invests in all 400 stocks in the S&P® MidCap 400 Index in proportion to their weighting in the index. The S&P® MidCap 400 Index is an unmanaged index of 400 common stocks of medium-size companies. The fund is non-diversified.

Large

Mid

Small

Value Blend Growth

VRU Code: 464

Morningstar Category Mid-Cap Blend


As of 3/31/2016



Jarden Corp ................................................ 0.80 Alaska Air Group Inc ................................... 0.67 LKQ Corp .................................................... 0.64 Acuity Brands Inc ........................................0.63 Mettler-Toledo International Inc .................. 0.61 Foot Locker Inc ........................................... 0.58 Fortune Brands Home & Security Inc ......... 0.58 Global Payments Inc ................................... 0.55 Alliant Energy Corp ..................................... 0.55 Everest Re Group Ltd ..................................0.55 Total 6.16% Diversification % Assets

Basic Materials ............................................5.84 Consumer Cyclical .................................... 15.88 Financial Services ..................................... 14.21 Real Estate ................................................ 10.07 Consumer Defensive ................................... 4.38 Healthcare ................................................... 7.92 Utilities ........................................................5.53 Communication Services ............................ 0.55 Energy .........................................................3.73 Industrials ................................................. 17.53 Technology ................................................14.37 Total 100.01%


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Dreyfus S&P 500 Index Investment Option





Global Specialty



_Strategy





The investment seeks to match the performance of the Standard & Poor's® 500 Composite Stock Price Index. To pursue its goal, the fund generally is fully invested in stocks included in the S&P 500® Index and in futures whose performance is tied to the index. It generally invests in all 500 stocks in the S&P 500® Index in proportion to their weighting in the index. The S&P 500® Index is an unmanaged index of 500 common stocks chosen to reflect the industries of the U.S. economy and is often considered a proxy for the stock market in general. The fund is non-diversified.

Large

Mid

Small

Value Blend Growth

VRU Code: 885

Morningstar Category Large Blend


As of 3/31/2016



Apple Inc .....................................................3.32 Microsoft Corp ............................................2.40 Exxon Mobil Corporation ............................ 1.91 Johnson & Johnson ....................................1.64 General Electric Co ......................................1.63 Berkshire Hathaway Inc B ........................... 1.46 Facebook Inc A ........................................... 1.44 AT&T Inc ..................................................... 1.32 Amazon.com Inc ......................................... 1.26 Wells Fargo & Co ........................................ 1.23 Total 17.61% Diversification % Assets

Basic Materials ............................................2.71 Consumer Cyclical .................................... 11.21 Financial Services ..................................... 14.02 Real Estate .................................................. 2.43 Consumer Defensive ................................. 10.39 Healthcare ................................................. 14.79 Utilities ........................................................3.42 Communication Services ............................ 4.62 Energy .........................................................6.76 Industrials ................................................. 10.94 Technology ................................................18.71 Total 100.00%


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Dreyfus Small Cap Stock Index Investment Option



Stable Value/Money Market Bonds Asset Allocation


Global Specialty

Small company investing involves specific risks not necessarily encountered in large company investing, such as increased volatitlity.



_Strategy





The investment seeks to match the performance of the Standard & Poor's® SmallCap 600 Index. To pursue its goal, the fund invests in a representative sample of stocks included in the S&P® SmallCap 600 Index and in futures whose performance is tied to the index. The adviser expects to invest in approximately 500 or more of the stocks in the index. However, at times, it may be fully invested in all the stocks that comprise the index. Under these circumstances, the fund maintains approximately the same weighting for each stock as the index does. It is non-diversified.

Large

Mid

Small

Value Blend Growth

VRU Code: 465

Morningstar Category Small Blend


As of 3/31/2016



Piedmont Natural Gas Co Inc ......................0.74 Heartland Payment Systems Inc ................. 0.57 Take-Two Interactive Software Inc .............. 0.53 Southwest Gas Corp ................................... 0.52 NorthWestern Corp ..................................... 0.51 Viasat Inc .................................................... 0.49 Medical Properties Trust Inc ....................... 0.47 EMCOR Group Inc .......................................0.47 Helen Of Troy Ltd ........................................ 0.47 Prestige Brands Holdings Inc ..................... 0.46 Total 5.23% Diversification % Assets

Basic Materials ............................................6.57 Consumer Cyclical .................................... 14.39 Financial Services ..................................... 15.14 Real Estate .................................................. 7.47 Consumer Defensive ................................... 3.32 Healthcare ................................................. 10.75 Utilities ........................................................4.39 Communication Services ............................ 1.16 Energy .........................................................2.27 Industrials ................................................. 17.21 Technology ................................................17.32 Total 99.99%


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Franklin Growth Investment Option





Global Specialty



_Strategy



Investment Advisor: Franklin Advisers Inc Portfolio Manager: Conrad B. Herrmann

V. Jerry Palmieri


The investment seeks capital appreciation. The fund invests substantially in the equity securities of companies that are leaders in their industries. Although it normally invests substantially in the equity securities (principally common stocks) of U.S.-based large and medium market capitalization companies, the fund may invest in companies in new and emerging industries where growth is expected to be above average and may invest up to 40% of its assets in smaller companies.

Large

Mid

Small

Value Blend Growth

VRU Code: 513

Morningstar Category Large Growth


As of 3/31/2016


Stock .........................................................86.10 Foreign Stock ..............................................3.60 Bond ........................................................... 0.00 Foreign Bond ...............................................0.00 Preferred ..................................................... 0.00 Convertible ..................................................0.00 Cash ..........................................................10.28 Other ........................................................... 0.03 Total 100.01% Largest Holdings % Assets

Apple Inc .....................................................3.76 Alaska Air Group Inc ................................... 2.21 Northrop Grumman Corp ............................1.84 Amazon.com Inc ......................................... 1.75 Microsoft Corp ............................................1.50 Walt Disney Co ............................................1.44 Union Pacific Corp ...................................... 1.36 Amgen Inc ...................................................1.26 Mettler-Toledo International Inc .................. 1.24 3M Co ......................................................... 1.20 Total 17.56% Diversification % Assets

Basic Materials ............................................4.61 Consumer Cyclical ...................................... 9.40 Financial Services ....................................... 5.58 Real Estate .................................................. 0.00 Consumer Defensive ................................... 4.21 Healthcare ................................................. 22.09 Utilities ........................................................0.73 Communication Services ............................ 1.20 Energy .........................................................2.37 Industrials ................................................. 28.13 Technology ................................................21.68 Total 100.00%


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General Account Investment Option

Processing and publication dates vary by fund company resulting in potential variations in “as of” dates. Information contained herein is subject to change at any time, and may vary based on underlying fund and/or share class considerations (if applicable). Certain sections, if shown, may not add up to 100% due to rounding. © 2016 Massachusetts Mutual Life Insurance Company, Springfield, MA 01111-0001. All rights reserved. www.massmutual.com. MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) [of which Retirement Services is a division] and its affiliated companies and sales representatives. RS-37175-00. © 2016 Massachusetts Mutual Life Insurance Company, Springfield, MA 01111-0001. All rights reserved. www.massmutual.com. MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) [of which Retirement Services is a division] and its affiliated companies and sales representatives. © 2016 Massachusetts Mutual Life Insurance Company, Springfield, MA 01111-0001. All rights reserved. www.massmutual.com. MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) [of which Retirement Services is a division] and its affiliated companies and sales representatives.




Global Specialty

Hartford Life Insurance Company (also referred to as “Hartford”) offers competitive credited rates on current contributions, as well as on contributions made in prior years. The General Account is not a mutual fund. It is an investment choice available through a group variable contract. The General Account investment choice is part of Hartford’s general account that includes other company assets. General Account rates are guaranteed by the claims-paying ability of Hartford Life Insurance Company. Hartford credits interest on contributions made to the General Account at a rate declared for the calendar quarter in which they are received. Hartford guarantees the declared interest rate applicable to any quarter to the end of the year in which the rate was applied. Hartford may change the declared interest rate applicable to contributions made for any subsequent quarter at its discretion. For each subsequent calendar year, Hartford Life Insurance Company will credit assets in the General Account at a rate guaranteed for the entire calendar year (the “Guaranteed Interest Rate”). The Guaranteed Interest Rate for a calendar year will be determined at the end of the preceding calendar year and will never be less than the minimum interest rate specified in the contract. Hartford may, from time to time, credit interest rates in excess of the Guaranteed Interest Rate. Contract guarantees, including any credited rate of interest or annuity payout rates, are backed by the claims-paying ability of the issuing company, Hartford Life Insurance Company.

VRU Code: 024

The objective of this investment option is to maintain a competitive fixed interest rate and a minimum guaranteed rate of return. The general account of Hartford Life Insurance Company is guaranteed by the Hartford’s claims paying ability. Hartford’s General Account is primarily invested in investment grade fixed income securities. Contract values held in the General Account will be accounted for on a non-unitized basis. If the Plan offers a money market fund or other competing fund, direct transfers between competing funds are not permitted and amounts transferred to a non-competing fund must remain in the non-competing fund for at least three months.


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Goldman Sachs Small Cap Value Investment Option





Global Specialty

The Fund is subject to the risk of rising and falling stock prices. In recent years, the U.S. stock market has experienced substantial price volatility. Stocks of smaller companies are often more volatile and present greater risks than stocks of large companies. At times, the Fund may be unable to sell certain of its portfolio securities without a substantial drop in price, if at all.



_Strategy



Investment Advisor: Goldman Sachs Asset Management LP

Portfolio Manager: Team Managed


The investment seeks long-term capital appreciation. The fund normally invests at least 80% of its net assets plus any borrowings for investment purposes (measured at time of purchase) ("net assets") in a diversified portfolio of equity investments in small-cap issuers with public stock market capitalizations within the range of the market capitalization of companies constituting the Russell 2000® Value Index at the time of investment. Although it will invest primarily in publicly traded U.S. securities, including real estate investment trusts, it may also invest in foreign securities.

Large

Mid

Small

Value Blend Growth

VRU Code: 288



As of 3/31/2016



Pebblebrook Hotel Trust ..............................1.39 Chesapeake Lodging Trust .......................... 1.20 Webster Financial Corp ............................... 1.16 PrivateBancorp Inc ......................................1.15 PS Business Parks Inc ................................1.12 CubeSmart .................................................. 1.12 Spectrum Brands Holdings Inc ................... 1.07 Acadia Realty Trust ..................................... 1.05 CyrusOne Inc .............................................. 1.03 CNO Financial Group Inc .............................1.03 Total 11.32% Diversification % Assets

Basic Materials ............................................5.87 Consumer Cyclical ...................................... 9.02 Financial Services ..................................... 26.49 Real Estate ................................................ 15.02 Consumer Defensive ................................... 5.04 Healthcare ................................................... 3.81 Utilities ........................................................7.65 Communication Services ............................ 0.01 Energy .........................................................4.21 Industrials ................................................. 12.64 Technology ................................................10.25 Total 100.01%


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Invesco Developing Markets Investment Option





Global Specialty

Investing in foreign issuers and non-dollar securities may involve different and additional risks associated with foreign currencies, investment disclosure, accounting, securities regulation, commissions, taxes, political or social instability, war or expropriation.



_Strategy



Investment Advisor: Invesco Advisers, Inc. Portfolio Manager: Borge Endresen

Shuxin Cao


The investment seeks long-term growth of capital. The fund invests, under normal circumstances, at least 80% of its net assets (plus any borrowings for investment purposes) in securities of issuers in developing countries. It invests primarily in equity securities and depositary receipts. The principal types of equity securities in which the fund invests are common and preferred stock. The fund invests primarily in securities of issuers that are considered by the fund's portfolio managers to have potential for earnings or revenue growth. It may invest in the securities of issuers of all capitalization sizes.

VRU Code: 430

Morningstar Category Diversified Emerging Mkts

As of 3/31/2016



BMF Bovespa SA Bolsa Valores Merc Fut ... 4.32 Kasikornbank Public Co Ltd Shs Foreign Registered ...................................................4.02 Haci Omer Sabanci Holding AS ...................3.86 Taiwan Semiconductor Manufacturing Co Ltd 3.77 WH Group Ltd .............................................3.46 PT Telekomunikasi Indonesia (Persero) Tbk Class B ........................................................2.98 Chemical Works of Gedeon Richter PLC .....2.95 Fomento Economico Mexicano SAB de CV ADR 2.77 Sberbank of Russia PJSC ........................... 2.75 China Mobile Ltd .........................................2.70 Total 33.58% Diversification % Assets

Brazil ......................................................... 17.14 China .........................................................15.90 Mexico ........................................................ 7.42 Turkey ......................................................... 6.99 Indonesia .................................................... 5.91 Russia ......................................................... 5.89 Hong Kong ..................................................5.88 Thailand ...................................................... 4.02 Taiwan .........................................................3.77 Philippines .................................................. 3.69 Total 76.61%


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Invesco Small Cap Equity Investment Option





Global Specialty

Investing in micro and small companies involves greater risks not associated with investing in more established companies, such as business risk, significant stock price fluctuations and illiquidity. The fund can invest up to 25% of its assets in foreign securities that involve risks not associated with investing solely in the United States.



_Strategy



Investment Advisor: Invesco Advisers, Inc. Portfolio Manager: Juan Hartsfield

Juliet Ellis


The investment seeks long-term growth of capital. The fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities of small-capitalization issuers. The principal type of equity securities in which the fund invests is common stock. The fund's managers consider an issuer to be a small-capitalization issuer if it has a market capitalization, at the time of purchase, no larger than the largest capitalized issuer included in the Russell 2000® Index. It may also invest up to 25% of its net assets in foreign securities.

Large

Mid

Small

Value Blend Growth

VRU Code: 495



As of 3/31/2016



Dycom Industries Inc ..................................1.85 Waste Connections Inc ............................... 1.54 Graphic Packaging Holding Co ................... 1.53 Vail Resorts Inc ...........................................1.48 Western Alliance Bancorp ........................... 1.45 CubeSmart .................................................. 1.40 Helen Of Troy Ltd ........................................ 1.36 Apogee Enterprises Inc ............................... 1.34 Tech Data Corp ............................................1.32 The Michaels Companies Inc ...................... 1.32 Total 14.59% Diversification % Assets

Basic Materials ............................................6.76 Consumer Cyclical .................................... 16.61 Financial Services ..................................... 19.73 Real Estate .................................................. 5.26 Consumer Defensive ................................... 4.66 Healthcare ................................................... 9.41 Utilities ........................................................1.10 Communication Services ............................ 0.98 Energy .........................................................2.41 Industrials ................................................. 15.55 Technology ................................................17.54 Total 100.01%


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JPMorgan Prime Money Market Investment Option





Global Specialty

An investment in a money market fund is not insured or guaranteed by The Federal Deposit Insurance Corporation or any other government agency. Although the fund seeks to preserve the value of your investment at $1.00 per share (unit), it is possible to lose money investing in the fund.

_Strategy



Investment Advisor: J.P. Morgan Investment Management Inc

Portfolio Manager: Management Team


The investment seeks to provide the highest possible level of current income while still maintaining liquidity and preserving capital. The fund invests in high quality, short-term money market instruments which are issued and payable in U.S. dollars. It will invest at least 25% of its total assets in securities issued by companies in the banking industry. The fund may, however, invest less than 25% of its total assets in this industry as a temporary defensive measure. It may invest significantly in securities with floating or variable rates of interest.

VRU Code: 436

Morningstar Category Money Market-Taxable

As of 12/31/2015


Stock ...........................................................0.00 Foreign Stock ..............................................0.00 Bond ........................................................... 0.09 Foreign Bond ...............................................0.45 Preferred ..................................................... 0.00 Convertible ..................................................0.00 Cash ..........................................................99.46 Other ........................................................... 0.00 Total 100.00% Largest Holdings % Assets

Federal Reserve Bank Of New York .............8.13 Federal Reserve Bank Of New York .............3.16 Credit Suisse First Boston Usa, Inc. ........... 1.26 Credit Suisse First Boston Usa, Inc. ........... 1.01 US Treasury Note 0.375% .......................... 0.93 Bank Of New York Mellon Corp. ..................0.90 Norinchukin Bk N Y Brh ..............................0.90 Credit Agricole Corporate And Investment ..0.85 Ing Bank N.V. .............................................. 0.82 China Construction Bank Corp. ...................0.81 Total 18.77%


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Loomis Sayles Bond Investment Option





Global Specialty

High yield securities are subject to a high degree of market and credit risk. In addition, the secondary market for these securities may lack liquidity which, in turn, may adversely affect the value of these securities and that of the fund. Foreign investments involve special risks including greater economic, political and currency fluctuation risks, which may be even greater in emerging markets. Mutual funds that invest in bonds can lose their value as interest rates rise and an investor can lose principal.



_Strategy



Number of Stock Holdings: 18 Investment Advisor: Loomis Sayles & Company LP Portfolio Manager: Team Managed


The investment seeks high total investment return through a combination of current income and capital appreciation. Under normal circumstances, the fund will invest at least 80% of its net assets (plus any borrowings made for investment purposes) in fixed-income securities. It will normally invest at least 55% of its net assets in investment-grade fixed-income securities. The fund may also invest up to 35% of its assets in below investment-grade fixed-income securities (commonly known as "junk bonds") and up to 20% of its assets in equity securities, such as common stocks and preferred stocks (with up to 10% of its assets in common stocks).

VRU Code: 743

Morningstar Category Multisector Bond

As of 3/31/2016


Stock ...........................................................7.53 Foreign Stock ..............................................0.67 Bond ......................................................... 42.80 Foreign Bond .............................................25.36 Preferred ..................................................... 2.06 Convertible ..................................................5.64 Cash ..........................................................12.12 Other ........................................................... 3.82 Total 100.00% Largest Holdings % Assets

Intel Corp .................................................... 3.79 Intel Cv 3.25% ............................................ 3.19 Canada Govt 0.25% .................................... 2.90 Canada Govt 0.3% ...................................... 2.67 Ford Motor Co .............................................1.84 United Mexican States 8% ..........................1.65 United Mexican States 10% ........................1.63 Bristol-Myers Squibb Company .................. 1.38 Amer Airls Grp 144A 5.5% ......................... 1.28 Canada Govt 1.25% .................................... 1.26 Total 21.59%


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Ve

Lord Abbett Value Opportunities Investment Option





Global Specialty




_Strategy



Investment Advisor: Lord, Abbett & Co LLC Portfolio Manager: Robert Fetch


The investment seeks long-term capital appreciation. To pursue its objective, the fund normally invests at least 65% of its net assets in equity securities of small and mid-sized companies. The remainder of the fund's assets may be invested in companies of any size. The fund may change this policy at any time. The Advisor attempts to invest in companies the investment team believes have been undervalued by the market and whose securities are selling at reasonable prices in relation to an assessment of their potential or intrinsic value.

Large

Mid

Small

Value Blend Growth

VRU Code: 1063

Morningstar Category Mid-Cap Blend


As of 12/31/2015



Federal Realty Investment Trust ..................2.60 RenaissanceRe Holdings Ltd ...................... 2.55 American Water Works Co Inc ....................2.33 STERIS PLC ................................................ 2.24 Aecom .........................................................2.17 Booz Allen Hamilton Holding Corp ..............2.12 Jarden Corp ................................................ 2.08 CMS Energy Corp ....................................... 1.90 Pinnacle Foods Inc ......................................1.83 Portland General Electric Co ....................... 1.78 Total 21.60% Diversification % Assets



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Ve

MFS International Value Investment Option





Global Specialty




_Strategy



Investment Advisor: Massachusetts Financial Services Co


The investment seeks capital appreciation. The fund normally invests its assets primarily in foreign equity securities, including emerging market equity securities. Equity securities include common stocks and other securities that represent an ownership interest (or right to acquire an ownership interest) in a company or other issuer. The advisor focuses on investing the fund's assets in the stocks of companies it believes are undervalued compared to their intrinsic value (value companies).

VRU Code: 404

Morningstar Category Foreign Large Blend

As of 3/31/2016



Nestle SA .................................................... 4.29 Danone SA .................................................. 3.71 Reckitt Benckiser Group PLC ......................3.39 Colgate-Palmolive Co ..................................3.07 Brambles Ltd ...............................................3.03 KDDI Corp ...................................................2.42 Compass Group PLC ...................................2.34 Analog Devices Inc ..................................... 2.19 Japan Tobacco Inc ...................................... 2.18 Henkel AG & Co KGaA Pfd Shs - Non-voting 2.15 Total 28.77% Diversification % Assets

Japan ........................................................ 20.68 United Kingdom ........................................ 16.17 Switzerland ............................................... 11.85 Germany ................................................... 11.57 United States ...............................................9.74 France ......................................................... 8.92 Australia ......................................................3.87 Netherlands .................................................3.11 Sweden ....................................................... 2.44 Canada ........................................................ 2.09 Total 90.44%


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Ve

MFS New Discovery Investment Option





Global Specialty

Small company investing involves specific risks not necessarily encountered in large company investing, such as increased volatitlity.



_Strategy



Investment Advisor: Massachusetts Financial Services Co

Portfolio Manager: Thomas H. Wetherald


The investment seeks capital appreciation. The fund normally invests the fund's assets primarily in equity securities. Equity securities include common stocks and other securities that represent an ownership interest (or right to acquire an ownership interest) in a company or other issuer. MFS focuses on investing the fund's assets in the stocks of companies it believes to have above average earnings growth potential compared to other companies (growth companies).

Large

Mid

Small

Value Blend Growth

VRU Code: 208

Morningstar Category Small Growth


As of 3/31/2016



Bright Horizons Family Solutions Inc ..........3.26 Masimo Corp .............................................. 2.15 Healthcare Services Group Inc ....................2.15 Gartner Inc A ...............................................2.07 Sabre Corp ..................................................1.97 STERIS PLC ................................................ 1.94 SS&C Technologies Holdings Inc ................1.75 Nasdaq Inc ..................................................1.67 Berry Plastics Group Inc ............................. 1.58 AMETEK Inc ................................................ 1.52 Total 20.06% Diversification % Assets

Basic Materials ............................................5.16 Consumer Cyclical .................................... 22.33 Financial Services ....................................... 4.59 Real Estate .................................................. 2.11 Consumer Defensive ................................... 5.54 Healthcare ................................................. 23.33 Utilities ........................................................0.00 Communication Services ............................ 0.00 Energy .........................................................0.95 Industrials ................................................. 13.92 Technology ................................................22.06 Total 99.99%


- 17 -

Ve

MM RetireSMART 2015 Investment Option





Global Specialty



_Strategy


Inception Date: 4/1/2010 Net Assets ($ in millions): $100.26

Investment Advisor: MML Investment Advisers, LLC

Portfolio Manager: Bruce Picard Jr., CFA Frederick (Rick) Schulitz, CFA


The investment seeks to achieve as high a total return over time as is considered consistent with prudent investment risk, preservation of capital and recognition of the fund's current asset allocation. The fund is a "fund of funds" and seeks to achieve its investment objective by investing in a combination of domestic and international mutual funds sponsored by MML Advisers or its affiliates ("underlying funds") using an asset allocation strategy designed for investors expected to have retired around the year 2015 and to have stopped making new investments in the fund.

VRU Code: 1167

Morningstar Category Target-Date 2015

As of 3/31/2016


Stock .........................................................27.89 Foreign Stock ............................................16.69 Bond ......................................................... 44.48 Foreign Bond ...............................................6.64 Preferred ..................................................... 0.16 Convertible ..................................................0.19 Cash ............................................................2.94 Other ........................................................... 1.00 Total 99.99% Largest Holdings % Assets

MassMutual Premier Core Bond I .............18.35 MassMutual Premier Infl-Prot and Inc I ... 10.78 MassMutual Premier Short-Duration Bd I ...7.11 MassMutual Select Total Return Bond I ......5.33 MassMutual Select Overseas I ....................4.94 MassMutual Premier Disciplined Gr I ......... 4.81 MassMutual Premier Disciplined Value I .... 4.81 MM MSCI EAFE® International Index I ........ 4.54 MassMutual Select Strategic Bond I ........... 4.29 Oppenheimer International Bond I .............. 2.47 Total 67.43% Diversification % Assets



- 18 -

Ve






Global Specialty



_Strategy






The investment seeks to achieve as high a total return over time as is considered consistent with prudent investment risk, preservation of capital and recognition of its current asset allocation. The fund is a "fund of funds" and seeks to achieve its investment objective by investing in a combination of domestic and international mutual funds sponsored by MML Advisers or its affiliates ("underlying funds") using an asset allocation strategy designed for investors expecting to retire at age 65 around the year 2025 and likely to stop making new investments in the fund at or around that time.

VRU Code: 1169


As of 3/31/2016



MassMutual Premier Core Bond I ...............7.47 MassMutual Select Overseas I ....................7.41 MM MSCI EAFE® International Index I ........ 6.81 MassMutual Premier Disciplined Gr I ......... 6.20 MassMutual Premier Disciplined Value I .... 6.18 MassMutual Premier Infl-Prot and Inc I ..... 5.02 MassMutual Premier International Eq I .......3.44 MassMutual Premier Strat Emerg Mkts I ....3.39 MassMutual Premier Short-Duration Bd I ...3.35 MassMutual Premier High Yield I ............... 3.14 Total 52.41% Diversification % Assets



- 19 -

Ve






Global Specialty



_Strategy






The investment seeks to achieve as high a total return over time as is considered consistent with prudent investment risk, preservation of capital and recognition of its current asset allocation. The fund is a "fund of funds" and seeks to achieve its investment objective by investing in a combination of domestic and international mutual funds sponsored by MML Advisers or its affiliates ("underlying funds") using an asset allocation strategy designed for investors expecting to retire at age 65 around the year 2035 and likely to stop making new investments in the fund at or around that time.

VRU Code: 1171


As of 3/31/2016



MassMutual Select Overseas I ....................8.93 MM MSCI EAFE® International Index I ........ 8.21 MassMutual Premier Disciplined Gr I ......... 6.00 MassMutual Premier Disciplined Value I .... 5.98 MassMutual Premier International Eq I .......4.13 MassMutual Premier Core Bond I ...............3.87 MassMutual Premier Strat Emerg Mkts I ....3.84 MassMutual Select Blue Chip Growth I .......3.59 MassMutual Select Diversified Value I ........ 3.45 Oppenheimer Global Real Estate I ...............3.28 Total 51.28% Diversification % Assets



- 20 -

Ve






Global Specialty



_Strategy






The investment seeks to achieve as high a total return over time as is considered consistent with prudent investment risk, preservation of capital and recognition of the fund's current asset allocation. The fund is a "fund of funds" and seeks to achieve its investment objective by investing in a combination of domestic and international mutual funds sponsored by MML Advisers or its affiliates ("underlying funds") using an asset allocation strategy designed for investors expecting to retire at age 65 around the year 2045 and likely to stop making new investments in the fund at or around that time.

VRU Code: 1173


As of 3/31/2016


Stock .........................................................52.61 Foreign Stock ............................................31.92 Bond ........................................................... 8.49 Foreign Bond ...............................................2.18 Preferred ..................................................... 0.07 Convertible ..................................................0.04 Cash ............................................................3.37 Other ........................................................... 1.31 Total 99.99% Largest Holdings % Assets

MassMutual Select Overseas I ....................9.45 MM MSCI EAFE® International Index I ........ 8.70 MassMutual Premier Disciplined Gr I ......... 5.30 MassMutual Premier Disciplined Value I .... 5.29 MassMutual Premier International Eq I .......4.37 MassMutual Select Blue Chip Growth I .......4.35 MassMutual Select Diversified Value I ........ 4.18 MassMutual Premier Strat Emerg Mkts I ....4.17 MassMutual Select Fundamental Growth I . 3.87 MassMutual Select Fundamental Value I .... 3.74 Total 53.42% Diversification % Assets



- 21 -

Ve

MM RetireSMART In Retirement Investment Option





Global Specialty



_Strategy






The investment seeks to achieve as high a total return over time as is considered consistent with prudent investment risk, preservation of capital and recognition of the fund's current asset allocation. The fund is a "fund of funds" and seeks to achieve its investment objective by investing in a combination of domestic and international mutual funds sponsored by MML Advisers or its affiliates. Its assets are allocated among underlying funds according to a target asset allocation strategy that emphasizes fixed income and money market funds, but also includes a smaller allocation to equity and certain other funds.

VRU Code: 1175

Morningstar Category Target-Date Retirement

As of 3/31/2016



MassMutual Premier Core Bond I .............19.69 MassMutual Premier Infl-Prot and Inc I ... 14.07 MassMutual Premier Short-Duration Bd I .11.91 MassMutual Select Total Return Bond I ......6.34 MassMutual Select Strategic Bond I ........... 5.84 MassMutual Premier Disciplined Gr I ......... 3.91 MassMutual Premier Disciplined Value I .... 3.90 MassMutual Select Overseas I ....................2.99 Oppenheimer International Bond I .............. 2.96 MM MSCI EAFE® International Index I ........ 2.75 Total 74.36% Diversification % Assets

Basic Materials ............................................3.44 Consumer Cyclical .................................... 14.75 Financial Services ..................................... 16.96 Real Estate ................................................ 11.13 Consumer Defensive ................................... 7.26 Healthcare ................................................. 10.81 Utilities ........................................................2.25 Communication Services ............................ 3.14 Energy .........................................................4.04 Industrials ................................................. 11.04 Technology ................................................15.19 Total 100.01%


- 22 -

Ve

Oppenheimer International Growth Investment Option





Global Specialty




_Strategy



Investment Advisor: OFI Global Asset Management, Inc.

Investment Sub Advisor: OppenheimerFunds Inc Portfolio Manager: George Evans


The investment seeks capital appreciation. The fund mainly invests in the common stock of growth companies that are domiciled or have their primary operations outside of the United States. It may invest 100% of its assets in securities of foreign companies. The fund may invest in emerging markets as well as in developed markets throughout the world. It normally will invest at least 65% of its total assets in common and preferred stocks of issuers in at least three different countries outside of the United States, and emphasize investments in common stocks of issuers that the portfolio managers consider to be "growth" companies.

VRU Code: 295

Morningstar Category Foreign Large Growth

As of 3/31/2016



Dollarama Inc ..............................................1.87 Infineon Technologies AG ........................... 1.73 Continental AG ............................................ 1.65 Nippon Telegraph & Telephone Corp ...........1.65 Carnival Corp .............................................. 1.60 Valeo SA ......................................................1.44 Novo Nordisk A/S B .................................... 1.43 Heineken NV ............................................... 1.39 Aalberts Industries NV ................................ 1.33 Vodafone Group PLC .................................. 1.33 Total 15.42% Diversification % Assets

United Kingdom ........................................ 22.40 France ....................................................... 13.04 Switzerland ............................................... 12.35 Germany ..................................................... 8.42 Netherlands .................................................6.48 Japan .......................................................... 5.74 Canada ........................................................ 4.50 Denmark ..................................................... 4.18 United States ...............................................3.78 Spain ...........................................................3.18 Total 84.07%


- 23 -

Ve

PIMCO Total Return Investment Option





Global Specialty

This Fund invests at least 65% of its assets in a diversified portfolio of fixed-income securities, up to 20% in foreign currency-denominated securities, and 10% in high-yield securities. Investing in foreign securities may entail risk due to foreign economic and political developments; this risk may be enhanced when investing in emerging markets. High-yield bonds typically have a lower credit rating than other bonds. Lower rated bonds generally involve a greater risk to principal than higher rated bonds. This Fund may use derivative instruments for hedging purposes or as part of its investment strategy. Use of these instruments may involve certain costs and risks such as liquidity risk, interest rate risk, market risk, credit risk, management risk and the risk that a fund could not close out a position when it would be most advantageous to do so. Portfolios investing in derivatives could lose more than the principal amount invested in those instruments.



_Strategy



Investment Advisor: Pacific Investment Management Co LLC

Portfolio Manager: William H. Gross


The investment seeks maximum total return, consistent with preservation of capital and prudent investment management. The fund invests at least 65% of its total assets in a diversified portfolio of Fixed Income Instruments of varying maturities, which may be represented by forwards or derivatives such as options, futures contracts, or swap agreements. It invests primarily in investment-grade debt securities, but may invest up to 10% of its total assets in high yield securities. It may invest up to 30% of its total assets in securities denominated in foreign currencies, and may invest beyond this limit in U.S. dollar-denominated securities of foreign issuers.

VRU Code: 300

Morningstar Category Intermediate-Term Bond

As of 12/31/2015


Stock ...........................................................0.00 Foreign Stock ..............................................0.00 Bond ......................................................... 80.74 Foreign Bond ...............................................9.30 Preferred ..................................................... 0.47 Convertible ..................................................0.02 Cash ............................................................5.74 Other ........................................................... 3.72 Total 99.99% Largest Holdings % Assets

Fin Fut Us 5yr Cbt 03/31/16 ......................13.80 Irs Mxn 3.61000 12/21/15-0y* Cme .........11.92 Irs Usd 2.75000 12/16/15-30y Cme ......... 11.24 FNMA 4% TBA ............................................ 7.71 Irs Usd 1.75000 05/06/16-2y Cme ............. 5.61 US Treasury Bond 3.125% ..........................5.34 Irs Usd 2.50000 12/16/15-10y Lch .............5.00 Irs Usd 2.25000 12/16/15-7y Lch ...............4.33 FNMA .......................................................... 4.19 US Treasury Note 2.25% ............................ 3.66 Total 72.80%


- 24 -

Ve

Prudential Jennison Natural Resources Investment Option





Global Specialty

Investing in foreign securities may involve different and additional risks associated with foreign currencies, investment disclosure, accounting, securities regulation, commissions, taxes, political or social instability, war, or expropriation. International investments involve special risks, including currency fluctuation, lower liquidity, different accounting methods and economic and political systems, and higher transaction costs. These risks typically are greater in emerging markets. For purposes of determining the fund's holdings, securities of the same issuer are aggregated to determine the weight in the fund.



_Strategy



Investment Advisor: Prudential Investments LLC Investment Sub Advisor: Jennison Associates LLC Portfolio Manager: David A. Kiefer

Neil Brown


The investment seeks long-term growth of capital. The fund normally invests at least 80% of investable assets in equity and equity-related securities of natural resource companies and in asset-based securities. Natural resource companies are U.S. and foreign (non-U.S. based) companies that own, explore, mine, process or otherwise develop, or provide goods and services with respect to, natural resources. Asset-based securities are securities, the values of which are related to the market value of a natural resource. The principal type of equity in which the fund invests is common stock. It is non-diversified.

VRU Code: 891

Morningstar Category Natural Resources

As of 3/31/2016


Stock .........................................................71.36 Foreign Stock ............................................25.40 Bond ........................................................... 0.00 Foreign Bond ...............................................0.00 Preferred ..................................................... 0.00 Convertible ..................................................0.00 Cash ............................................................2.33 Other ........................................................... 0.91 Total 100.00% Largest Holdings % Assets

Concho Resources Inc ................................ 4.32 Halliburton Co ............................................. 3.56 Schlumberger Ltd ....................................... 3.55 EOG Resources Inc ..................................... 3.33 Noble Energy Inc .........................................3.30 Randgold Resources Ltd ADR .................... 2.94 Suncor Energy Inc ...................................... 2.93 Phillips 66 ................................................... 2.93 Anadarko Petroleum Corp ...........................2.67 Occidental Petroleum Corp ......................... 2.64 Total 32.17% Diversification % Assets

Basic Materials ..........................................27.07 Consumer Cyclical ...................................... 0.00 Financial Services ....................................... 0.00 Real Estate .................................................. 0.00 Consumer Defensive ................................... 1.06 Healthcare ................................................... 0.00 Utilities ........................................................0.74 Communication Services ............................ 0.00 Energy .......................................................70.54 Industrials ................................................... 0.59 Technology ..................................................0.00 Total 100.00%


- 25 -

Ve

Templeton Global Bond Investment Option





Global Specialty

Changes in interest rates will affect the value of the fund's portfolio and its share price and yield. Bond prices generally move in the opposite direction from interest rates. Thus, as the prices of bonds in the fund adjust to a rise in interest rates, the fund's share price may decline. Special risks are associated with foreign investing, including currency fluctuations, economic instability and political developments. Investments in developing markets involve heightened risks related to the same factors, in addition to those associated with their relatively small size and lesser liquidity. These and other risks considerations are discussed in the fund's prospectus.



_Strategy



Investment Advisor: Franklin Advisers Inc Portfolio Manager: Michael Hasenstab


The investment seeks current income with capital appreciation and growth of income. Under normal market conditions, the fund invests at least 80% of its net assets in "bonds." Bonds include debt obligations of any maturity, such as bonds, notes, bills and debentures. It invests predominantly in bonds issued by governments, government-related entities and government agencies located around the world. The fund may invest up to 25% of its total assets in bonds that are rated below investment grade or, if unrated determined by the investment manager to be of comparable quality. It is non-diversified.

VRU Code: 728

Morningstar Category World Bond

As of 3/31/2016


Stock ......................................................... -1.03 Foreign Stock ..............................................0.00 Bond ........................................................... 0.88 Foreign Bond .............................................50.81 Preferred ..................................................... 0.00 Convertible ..................................................0.00 Cash ..........................................................45.34 Other ........................................................... 4.00 Total 100.00% Largest Holdings % Assets

Mexico(Utd Mex St) 7.75% ........................ 6.13 United Mexican States 7.62435% ...............4.15 Foederative Republik Brasilien, Bras 10% .. 3.44 Brazil Federative Rep ...................................2.81 Portugal(Rep Of) 3.875% ........................... 1.81 Brazil Federative Rep 10% .......................... 1.75 Brazil Federative Rep ...................................1.64 Indonesia(Rep Of) 8.375% ......................... 1.61 Malaysia (Govt Of) 4.012% .........................1.44 Indonesia(Rep Of) 8.375% ......................... 1.43 Total 26.21%


- 26 -

Ve

Victory Sycamore Established Value Investment Option





Global Specialty




_Strategy



Investment Advisor: Victory Capital Management Inc.

Portfolio Manager: Gary H. Miller Gregory Conners


The investment seeks long-term capital growth by investing primarily in common stocks. The fund pursues its investment objective by investing, under normal circumstances, at least 80% of its net assets in equity securities of companies with market capitalizations, at the time of purchase, within the range of companies comprising the Russell MidCap® Value Index. The fund may invest a portion of its assets in equity securities of foreign companies traded on U.S. exchanges, including American and Global Depositary Receipts (ADRs and GDRs).

Large

Mid

Small

Value Blend Growth

VRU Code: 445

Morningstar Category Mid-Cap Value


As of 3/31/2016



Xylem Inc ....................................................2.26 Parker Hannifin Corp ...................................2.18 Alleghany Corp ............................................2.08 AptarGroup Inc ........................................... 2.07 CBS Corp Class B ....................................... 1.99 Old Dominion Freight Lines Inc .................. 1.98 SunTrust Banks Inc .....................................1.95 Aflac Inc ......................................................1.92 Jacobs Engineering Group Inc ....................1.90 Citizens Financial Group Inc ........................1.88 Total 20.21% Diversification % Assets



- 27 -

"The Hartford" is The Hartford Financial Services Group, Inc. and its subsidiaries, including issuing company Hartford Life Insurance Company andHartford Securities Distribution Company, Inc. (“HSD”).

HSD (member FINRA and SIPC), a registered broker/dealer affiliate of The Hartford, has established certain service programs for retirement plans,including defined contribution retirement plans, through which a plan or plan participant may invest in mutual funds.

401 retirement programs (excluding 401(a)) are funded by group variable annuity contracts (countrywide: HL-14991; NY & FL: HL-14973) and groupvariable funding agreements (HL-16553 and HL-16553 (NY)) issued by Hartford Life Insurance Company (Simsbury, CT). 401(a), 457, and 403(b)retirement programs are funded by group variable annuity contracts (HL-15811, HVL-11002 and HVL-21002 series, HVL-14000, HVL-14001,HVL-20000, HL-17402, HL-14848, HL-17402 and HL-15420 with Rider HL-16957) and group variable funding agreements (HL-16553 andHL-16553 (NY)) issued by Hartford Life Insurance Company (Simsbury, CT). Group variable annuity contracts are underwritten and distributed byHartford Securities Distribution Company, Inc. where applicable. Retirement programs can be funded by group fixed annuities (HL-19799)issued by Hartford Life Insurance Company (Simsbury, CT) and can also invest in mutual funds through custodial accounts.

407119 Printed in U.S.A. © The Hartford, Hartford, CT 061152009

© 2015 Massachusetts Mutual Life Insurance Company, Springfield, MA 01111-0001. All rights reserved. www.massmutual.com. MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) [of which Retirement Services is a division] and its affiliated companies and sales representatives.

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RS-31550-01 5/11/2016

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