RS2070_FRCVR 714

The State of New Jersey 401(a) ABP Program

Prepared for:

RS2070_WELCOME 614

Welcome

The State of New Jersey 401a ABP Program is pleased to offer you a retirement plan as a benefit to

help you save and invest for retirement. It’s one way to thank you for your contribution to the

organization’s success.

This booklet walks you through the basics of the The State of New Jersey 401(a) ABP Program and

how to get started. You’ll also find information to help you make a plan for your life in the future that

works for your life right now.

Please review the enclosed information carefully to get started as soon as you can.

If you have questions or for more information, please visit www.massmutual.com/serve, or contact

your benefits administrator.

We hope you’ll take full advantage of this important benefit.

RS2070_ACCESS 1016

easy access to your account

Two easy ways to monitor and manage your account.

1. ONLINE

Log into our website at www.massmutual.com/serve. Here you can access powerful retirement planning tools and calculators, and manage your account — anytime, from virtually anywhere.

You’ll be able to:

• Obtain current account balances

• Change your investment options

• Perform account transactions

• Transfer (exchange) balances between investment options*

• Check current investment prices and performance

• View and download your quarterly electronic statements

• Reset/enable your PIN and user ID

If you are having trouble accessing your account for the first time, please contact your Participant Service Center at 1-800-528-9009 for assistance.

* You are allowed to submit a total of 20 transfer requests

each calendar year for your participant account by any permitted means. Once these 20 transfers have been requested, you may submit any additional transfer requests only in writing by U.S. mail. Transfers as a result of dollar-cost averaging (if applicable) do not count toward the 20-transfer limit. Each calendar year, MassMutual resets your transfers to allow 20 new transfers by all approved methods.

2. BY PHONE

1-800-528-9009 With our voice-activated telephone system, you control the call to get the information you need from any telephone, at any time, simply by speaking. Please provide your user ID and PIN when prompted. This will help expedite your call should you need to speak with a MassMutual customer service representative. The system will ask you to state the reason for your call. Simply speak clearly and the system will respond accordingly. Do you prefer receiving your retirement account information in a language other than English? Access to the Language Line is available in over 140 languages through a Customer Service Representative during normal business hours.

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Rollover In Form

Section A - Plan InformationPlan NameGroup No.

*We will change your account information to reflect the Legal Address above and all future mailings will be sent to this address unless changed by you or your Plan Administratoras described under "Stale Address" in the Important Information Section.

Use this form if you want to:• submit a rollover in.

Do not use this form to:• transfer your account from another provider under your current plan to MassMutual Retirement Services

("MassMutual"). Complete a Provider-to-Provider Transfer Form.

• Complete one form for each rollover• Complete the appropriate information in Section C.• Attach a current statement of your account of the amount you intend to rollover or transfer.

MassMutual will not process this form until it is received in good order. Please see the Important InformationSection for information on "Good Order" requirements.

HVL-534-4 HLI Rev. 10.13 page 1 of 2 rollk.pdf

Section B - Participant Information

* Legal Address

Date of BirthParticipant NameSSN

Section C - Rollover

401 qualified plan (including 401(k) or 403(a) qualified annuity plans)

all amounts OR

403(b) tax sheltered plan

408 IRA including simplified employee pension and simple retirement accounts

credited to my account at MassMutual. The eligible rollover distribution is coming from an eligible retirement plan identified under Code section:be liquidated from the retirement program indicated below and beI request that

Governmental 457(b) eligible deferred compensation plan sponsored by a governmental employer

$

If your contract includes a Roth Contributions feature, check here to indicate that designated Roth contributions will be included.

Provider Account Number

Address Phone Number

Rollover From:

Note that you cannot include Roth IRA amounts in this account.

If your contract includes an After-tax Contributions feature, check here to indicate that After-tax contributions will be included.

401(a) and 401(k) Retirement Plans

Financial Advisor'sName

Financial Advisor'sPhone Number

Daytime PhoneNumber

State Zip CodeCity

Financial Advisor'sEmail

GPROCESS/ GROLOVERIN

Questions?CallMassMutual’s CustomerService Center1-800-528-9009

Fax877-526-2531 or800-678-8645

Onlinewww.massmutual.com/govnp

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I understand that if I am currently enrolled in the Plan, my rollover or transfer will be allocated among the investment options based upon mycurrent investment elections unless Special Instructions are provided below to invest my rollover or transfer.

____________________________________________________ _________________________Participant Signature Date

Section D - Participant Authorization

HVL-534-4 HLI Rev. 10.13 page 2 of 2 rollk.pdf

Special Instructions:

Section E - Current Plan Administrator's Acceptance of Rollover

__________________________________________________________ _________________________Authorized Plan Administrator’s Signature Date

____________________________________________________________Authorized Plan Administrator’s Name (please print)

The authorized signature below certifies eligibility and acceptance of the rollover as instructed in this request.

Section G - Important InformationGood Order - "Good Order" means that all sections of the form are complete, the participant has provided their signature authorizing thetransaction, the former Plan Sponsor has provided their signature (if required) and the current Plan Sponsor has provided their signatureauthorizing MassMutual to process the transaction requested on the form (if required).

MassMutual - MassMutual Retirement Services (MMRS) is a division of Massachusetts Mutual Life Insurance Company (MassMutual) andaffiliates.

Effective January 1, 2013, Massachusetts Mutual Life Insurance Company (“MassMutual”) acquired The Hartford's Retirement Plans Group(“RPG”) business. MassMutual has no affiliation, and the RPG business no longer has any affiliation, with The Hartford Financial ServicesGroup, Inc. or any of its subsidiaries. MassMutual has been appointed by Hartford Life Insurance Company (“HLIC”) to provide alladministrative services necessary to support the insurance contracts issued by HLIC in connection with the RPG business.

Stale Address - It is important that you notify us if you change your address. Going forward, your address may change in our records either atyour or your employer's direction, or as a result of an address confirmation service provided under our agreement with your employer. Underthis service, the addresses in our records are compared against and updated quarterly with addresses received from commercial addressupdate services (e.g., the U.S. Postal Service). If your mail is returned to us or your employer tells us your address is incorrect, we are likely tosuspend future mailings until a new address is obtained. Unless preempted by federal law, failure to give us a current address may also resultin uncashed distributions from your participant account being considered abandoned property under state law, and remitted to the applicablestate. To update your address, contact your Plan Administrator or, if permitted by your Plan, log in to our website at www.massmutual.com/govnp and select the "My Profile" tab at the top of the screen.

Section F - Payment InformationFor payments made by check, make check payable to:The Hartford FBOMail check and this form to:Regular Mail: MassMutual Retirement Services Overnight Mail: MassMutual Retirement Services

P.O. Box 1583 1 Griffin Road NorthHartford, CT 06144-1583 Windsor, CT 06095-1512

Social Security No.Employee Name

Include the following information:Credit Hartford Life - RPSCFBO: Employee Name

Employer Name

Social Security No.

Hartford Group No.

For payments made by ACH or Wire, forward to:Mellon BankThree Mellon Bank CenterPittsburgh, PA 15259-0001Money Transfer Dept.ABA-043000261Account No 1957963

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Provider-to-Provider Account Transfer

Section A - Plan Information

Financial Advisor's Name

Financial Advisor's Phone Number

Plan NameGroup No

Section B - Participant Information

Daytime Phone Number

*Legal Address

State Zip CodeCity

SSN Participant Name Date of Birth

Use this form if you want to • transfer your account from another provider under your current Plan to your existing account at MassMutual Retirement Services ("MassMutual"). Do not use this form to: • submit a rollover in. Complete a Rollover In/Plan-to-Plan Transfer In Form. MassMutual will not process this form until it is received in good order. Please see the Important Information Section for information on "Good Order" requirements.

Section C - Transfer Information

*We will change your account information to reflect the Legal Address above and all future mailings will be sent to this address unless changed by you or your Plan Administrator as described under "Stale Address" in the Important Information Section.

Financial Advisor's Email

GPROCESS/ GROLOVERIN

401(a) Retirement Plans

283-18 Rev. 2.15 Page 1 of 2 provnj.pdf

Provider Account Number

all amounts OR $ of my existing 401(a) account value.

I hereby request a transfer to my 401(a) account with MassMutual of: (Select one below)

Transfer From:

Address Phone Number

New Jersey Higher Ed 401(a) Transfer From (select one):

TIAA VALIC AXA ING MetLife NJ State PERS

Questions? Call MassMutual’s Customer Service Center 1-800-528-9009 Fax 877-526-2531 or 800-678-8645 Online www.massmutual.com/govnp

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Section F - Important Information

_______________________________________________________ ________________________ Participant Signature Date

Section E - Participant AuthorizationI understand that if I am currently enrolled in the Plan, my transfer will be allocated among the investment options based upon my current investment elections unless Special Instructions are provided below to invest my transfer.

Special Instructions:

Section D - Payment Information

283-18 Rev. 2.15 Page 2 of 2 provnj.pdf

Good Order - "Good Order" means that all sections of the form are complete, the participant has provided their signature authorizing the transaction, the former Plan Sponsor has provided their signature (if required) and the current Plan Sponsor has provided their signature authorizing MassMutual to process the transaction requested on the form (if required). Stale Address - It is important that you notify us if you change your address. Going forward, your address may change in our records either at your or your employer's direction, or as a result of an address confirmation service provided under our agreement with your employer. Under this service, the addresses in our records are compared against and updated quarterly with addresses received from commercial address update services (e.g., the U.S. Postal Service). If your mail is returned to us or your employer tells us your address is incorrect, we are likely to suspend future mailings until a new address is obtained. Unless preempted by federal law, failure to give us a current address may also result in uncashed distributions from your participant account being considered abandoned property under state law, and remitted to the applicable state. To update your address, contact your Plan Administrator or, if permitted by your Plan, log in to our website at www.massmutual.com/govnp and select the "My Profile" tab at the top of the screen.

For payments made by ACH or Wire, forward to: Mellon Bank Three Mellon Bank Center Pittsburgh, PA 15259-0001 Money Transfer Dept. ABA-043000261 Account No 1957963

Include the following information: Credit Massachusetts Mutual Life Insurance Company FBO: Employee Name

Employer Name

Social Security No.

Group No.

For payments made by check, make check payable to: MassMutual FBO Mail check and this form to: Regular Mail: MassMutual Retirement Services Overnight Mail: MassMutual Retirement Services P.O. Box 1583 1 Griffin Road North Hartford, CT 06144-1583 Windsor, CT 06095-1512

Social Security No.Employee Name

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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The State of New Jersey 401a ABP Program offers a qualified defined contribution plan which is a discretionary contribution plan. The following is a brief overview of important features of your workplace retirement plan. For more information call your Participant Service Center at 1-800-528-9009 or contact your benefits administrator. Who is eligible to participate in the plan? You are eligible to participate in the plan immediately upon employment. Participation in the plan will occur immediately. Your contributions are always 100% vested. Are rollovers accepted? Your plan may allow you to roll additional retirement assets into the plan at any time. A rollover form is available within this booklet. For more information, call your Participant Service Center at 1-800-528-9009, visit www.massmutual.com/serve or contact your benefits administrator. What are my investment choices? The contract offers a wide variety of investment options to meet your needs, including a General (Declared Rate) Account which provides a credited rate of interest. You can direct your contributions into one or more of the available investment options. See the investment section of this booklet for more information. Competing investment option restrictions You have the flexibility to transfer amounts from one investment option to another. However, you may not transfer amounts directly between the General (Declared Rate) Account as competing investment option restrictions apply. Contact your Participant Service Center for details. Online retirement planning and advisory services — Guidance Morningstar Investment Management LLC provides asset allocation recommendations through their online service. This service integrates investment research, education and asset allocation guidance to give you a comprehensive and personalized approach to investing for retirement from an independent source, Morningstar Investment Management*. This service can be accessed through your retirement plan website. *Investment advisory products and services are provided by Morningstar Investment Management LLC, a registered investment adviser and

subsidiary of Morningstar, Inc. MassMutual is not affiliated with Morningstar Investment Management.

What are the fees and charges associated with this plan? There are costs associated with the underlying investment options offered under MassMutual's program. For a complete listing of these fees and charges, please refer to the Investment Option Fee Schedule in the investment section of this booklet. There are no additional fees assessed to your account when you take a loan.

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There may be other administrative fees that apply, all of which are outlined in this booklet. Additional plan expenses and other expenses including Third Party Administrator fees, if applicable are deducted and paid as directed by your plan administrator. Please contact MassMutual at 1-800-528-9009 for questions relating to additional plan expenses that may apply. Can I take money out of my account? Your account assets may generally be withdrawn from your 401 plan under the following qualifying circumstances: • Retirement at/after plan’s normal retirement age • Termination of employment - vested portion only • Death of participant • Loan Withdrawals are subject to the authorization of your employer. However, you must begin liquidating your account balances no later than April 1st of the calendar year following the year in which you attain the age of 70½ or retire (whichever is later). Distributions of before-tax contributions and any tax-deferred earnings are subject to ordinary income tax and, if taken prior to age 59½, a 10% federal income tax penalty may apply. Withdrawal/surrender charges There are no withdrawal charges. However, should your employer allow plan assets to be transferred to any additional program provider other than MassMutual, this provision may change. Contact your employer or your Participant Service Center for more information.

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It pays to plan for life in retirement. What are your retirement goals? How do you plan to achieve them? A large part of retirement is the flexibility to do what you want when you want, and that kind of flexibility takes planning. Your employer’s retirement savings plan can help. It pays to consolidate. If you have retirement assets from prior plans or IRAs, think about consolidating them into this plan. The process is easy and can help you simplify your retirement planning. To get started, call 1-800-528-9009 to learn what types of contributions your current retirement plan will accept. Our team of Rollover Specialists will be happy to help you with the required paperwork to simplify the roll-in process. Inflation matters. Retirement is expensive enough already – factor in inflation, and the costs can be stunning. Just eating in retirement can cost two people over $200,000 - $5 a meal, 3 meals a day, over 20 years. Adding a modest 3% annual inflation rate, the cost swells to nearly $300,000. How you live in retirement may be determined by what you can afford when the time comes. By preparing today, you may have more choices for your life tomorrow. How much should you save? It depends on how much money you'd like to have in retirement and when you start investing. The earlier you start, the more time your money has to work for you. To help you decide how much to save, check out the Retirement Goal Planner at www.massmutual.com/serve or ask a financial professional for advice. Learn more. To access your account information and our online tools, calculators, and resources, go to www.massmutual.com/serve. If you have questions and need to talk to a real person, call 1-800-528-9009.

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��������startswithastrategy

OPTION 1 OPTION 2 OPTION 3

You’ve got options. There is no one-size-fits-all approach to investing. That’s why your plan offers multiple strategies for asset management. You can select a Model My Goals® asset allocation model, a target date fund, or you can opt to build your own portfolio by selecting from your plan’s individual investment options.

OPTION 1

Select an asset allocation model. Model My Goals asset allocation models seek to provide a simple, one-step approach to investing by offering you a choice of five investment portfolios based upon your risk tolerance: • Conservative Model • Moderate Conservative Model • Moderate Model • Moderate Aggressive Model • Aggressive Model Designed to be used as a single-choice investment approach, each Model My Goals model is made up of a pre-selected mix of mutual funds that are selected by your employer with the guidance of your plan’s financial professional. The portfolios offer built-in asset allocation and diversification, as well as automatic account rebalancing.

OPTION 3

Choose your own investments. You can build your portfolio from any of the individual investment options in the plan. This strategy is best suited to investors who have taken the time to study their investment options. Your retirement plan offers a variety of investment options, covering a range of risk levels and investment objectives. Some investment options seek an increase in the value of shares (growth) while others aim to earn income (dividends or interest) for investors. Before making your investment decisions, you may want to consult with a financial professional.

OPTION 2

Select a target date fund. What year will you retire? That’s all you need to know to select one of the target date funds. An “all-in one” investment portfolio, a target date fund is a diversified mix of investment options that takes into consideration the time you have to invest before you retire. It is diversified across a mix of investment options and automatically rebalanced to help keep the fund’s allocation on track. You simply choose the fund that is closest to your target retirement date. Adjusting over time, the allocation of investments becomes more conservative as you get closer to your retirement date. The principal value of the target date investment option is not guaranteed at any time, including the target date.

ModelMyGoals®

Investment option Aggressive Moderately

Aggressive

Moderate Moderately

Conservative

Conservative

Specialty

PRUDENTIAL JENNISON NATURAL RESOURCES FUND A

- - - - -

International/Global

AMERICAN FUNDS EUROPACIFIC GROWTH R3

7% 7% 4% 4% 2%

INVESCO DEVELOPING MARKETS A 7% 5% 4% 2% 1%

MFS INTERNATIONAL VALUE R3 7% 5% 4% 2% 1%

OPPENHEIMER INTERNATIONAL GROWTH A

7% 5% 4% 2% 1%

Small-cap

DREYFUS SMALL CAP STOCK INDEX - - - - -

GOLDMAN SACHS SMALL CAP VALUE A 5% 4% 3% 1% -

INVESCO SMALL CAP EQUITY A - - - - -

MFS NEW DISCOVERY R3 5% 4% 2% 1% -

Mid-cap

DREYFUS MIDCAP INDEX - - - - -

LORD ABBETT VALUE OPPORTUNITIES A 11% 9% 6% 4% 2%

VICTORY SYCAMORE ESTABLISHED VALUE A - - - - -

The Model My Goals program makes investing easy. These risk-based asset allocation models already have investment options selected by your employer. There’s no need to select individual options—just choose a model based on your investment style. One hundred percent of your account will be invested in that model.

Account rebalancing* is important because the percentage of your plan investments in each asset class will change over time, depending on their performance. This can cause your allocation to become out of balance with the strategy you originally selected. By selecting one of the allocation strategies, your account will automatically be rebalanced so that your assets are realigned back to the original strategy.

The Model My Goals program is automatically rebalanced quarterly.

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Investment option Aggressive Moderately

Aggressive

Moderate Moderately

Conservative

Conservative

Large-cap

AMERICAN CENTURY EQUITY INCOME A 11% 9% 9% 6% 4%

DOMINI IMPACT EQUITY INV 10% 9% 8% 6% 3%

DREYFUS S&P 500 INDEX 10% 9% 8% 6% 3%

FRANKLIN GROWTH A 10% 9% 8% 6% 3%

Asset allocation/Balanced

MM RETIRESMART 2015 R4 - - - - -

MM RETIRESMART 2025 R4 - - - - -

MM RETIRESMART 2035 R4 - - - - -

MM RETIRESMART 2045 R4 - - - - -

MM RETIRESMART IN RETIREMENT R4 - - - - -

Bonds

DREYFUS BOND MARKET INDEX INV 4% 7% 10% 12% 15%

JPMORGAN CORE BOND A 2% 6% 8% 12% 15%

LOOMIS SAYLES BOND ADMIN 2% 6% 8% 12% 15%

TEMPLETON GLOBAL BOND A 2% 6% 8% 12% 15%

Money market/Stable value

GENERAL ACCOUNT - - 6% 12% 20%

JPMORGAN U.S. GOVERNMENT MONEY MARKET RESERVE

- - - - -

Investment option weights for the Model My Goals models are not provided by Mesirow Financial Investment Management, Inc. Mesirow Financial created these risk-based asset allocation models using the following six asset classes: Large Cap Blend; Domestic Equity; Mid Cap Blend Domestic Equity; Small Cap Blend Domestic Equity; Large Cap Blend Foreign Equity;Intermediate-Term Domestic Bond; and Cash Equivalent/Principal Focused-Extended Duration. Investment options in the Model My Goals program have been selected by your employer. Other investment options having similar risk and return characteristics may be available under the plan. Information on those alternatives may be obtained in the investment option performance section of this book. Asset Allocation/Balanced funds are not available in the standard Model My Goals program. *If a scheduled rebalance falls on the same day as a transaction to change or opt out of your model the rebalancing will occur first, followed by your request to change or opt out of the model. In applying particular asset allocation models to individual solutions, participants or beneficiaries should consider their other assets, income and investment (e.g., equity in a home, IRA investments, savings accounts, and interests in other qualified and non-qualified retirement plans) in addition to their interests in this plan. The information provided in this presentation by Mesirow Financial Investment Management, Inc. is for informational purposes only and should not

17

be construed as a recommendation to purchase or sell any particular security or investment vehicle(s) offered by Mesirow Financial Investment Management, Inc. (MFIM) or affiliates of MFIM. The information contained herein has been obtained from sources believed to be reliable, but is not necessarily complete and its accuracy cannot be guaranteed. Any opinions expressed are subject to change without notice. Mesirow Financial and its affiliated companies and/or individuals may, from time to time, own, have long or short positions in, or options on, or act as a market maker in, any securities or investment strategies discussed herein and may also perform financial advisory or investment banking services for those companies or in regard to those strategies. Further, Mesirow Financial may receive fees for selling or advising on the purchase or sale of products mentioned herein. Additionally, Mesirow Financial may also receive fees paid by manufacturers or distributors of said products in connection to other professional services provided by the applicable Mesirow Financial affiliate. The sale or advice provided is in no way related to or contingent upon the payment received for these other services. It should not be assumed that any recommendation incorporated herein will be profitable or will equal past performance. Mesirow Financial does not provide legal or tax advice. Model performance information and results do not reflect actual trading and the results may not reflect the impact that material economic and market factors may have had on MFIM's decision making if MFIM were actually managing clients' money. Any securities contained or investment strategies used in the model performance results provided herein do not relate or only partially relate to the advisory services currently offered by MFIM. MFIM's clients may have had results materially different from the results provided. Securities offered through Mesirow Financial Investment Management, Inc., member NYSE, SIPC.

UndeRstanding YOUR investment OPtiOns.

Your plan offers a variety of investments, whichare made up of different types of securities, asdescribed below.

Money market/Stable value investmentsthese short-term investments are designed to providea steady rate of return, greater investment stability, anda relatively lower level of risk. although the portfolioseeks to preserve the value of your investment at $1.00per share, it is possible to lose money in a stable valueinvestment, and the yield will fluctuate with changes inmarket conditions. Over time, these investments haveprovided lower returns than stock or bond funds.investments in a money market account are not insuredor guaranteed by the Federal deposit insuranceCorporation or any other government agency.

Bondsbonds represent “loans” investors make tocorporations, governments or agencies, and aredesigned to provide stability, income, and someappreciation in value. if held to maturity, bonds offer afixed rate of return and a fixed principal value. bondsgenerally offer a potentially higher return than moneymarket/stable value investments and a lower returnthan stocks. the value of bonds usually fluctuates lessthan stocks. However, corporate bonds, U.s. treasurybills, and government bonds will fluctuate in value,and the return of principal is not guaranteed if soldbefore maturity.

Stocksstocks represent part ownership in a business and aremeant to provide long-term growth by increasing invalue. some stocks also provide dividend income.Historically, stocks have outperformed other types ofinvestments over the long term. However, stocksfluctuate in value more than money market/stablevalue investments or bonds, and when sold may beworth more or less than their original cost. keep inmind that you can’t predict future results based onhow the market performed in the past.

Balanced investmentsbalanced investments consider the risk and returnpotential of each asset class and invest a percentageof assets in both stocks and bonds, along with a smallamount in stable value investments for liquidity.

International stocksinvestments in stocks issued by foreign businessesprovide investors with potential long-term growth ofcapital while helping to diversify their portfolios.Foreign stocks may offer greater returns than U.s.investments but also involve higher risks relating tointerest and currency exchange rates, securitiesregulation, and taxes, as well as unstable economic orpolitical conditions. international stocks fluctuate invalue and may be worth more or less than theiroriginal cost. global investments have assets in bothforeign and U.s. stocks.

large-cap* stocksLarge-cap stocks are shares in large, financiallyestablished “blue chip” companies with a market capof over $10 billion. the goal of these investments isthe long-term growth of capital. Risk and return aretypically moderate to high.

Mid-cap* stocksthese shares in companies in the $2 billion to $10billion market cap range seek long-term growth. sincemid-cap stocks may fluctuate more widely than themore stable large-cap stocks, there is a potential forgreater long-term growth as well as higher risk.

Small-cap* stockssmall-cap stocks represent companies with a marketcap of $300 million to $2 billion. Over long periods oftime, small-cap stocks have had higher returns thanlarge-cap stocks, which makes them attractive toaggressive investors. at the same time, they are muchmore volatile and have higher short-term risk.

Specialty stocksspecialty investments are concentrated in a specificarea of the market, such as technology or health care.because they are focused on a small market segment,these investments tend to have both a higher risk andhigher potential for return than more diversifiedinvestments.

all investments possess some element of risk,including possible loss of principal. Past performanceis no guarantee of future results.

*the term “cap” is short for market capitalization, which iscalculated by multiplying the price of a stock by thenumber of outstanding shares. generally speaking, thisrepresents the market’s estimate of a company’s value.

18

Investment options at a glance

How much risk you are comfortable with is an important consideration in choosing how you allocate your assets. How do you feel about investment risk – the chance that your investments could lose money? You also need to think about inflation risk – the risk that conservative investments such as short-term investments may not keep pace with inflation. Investing in more than one asset class – or a blend of them – may help you to balance your risk.

Investment Options RISK/RETURN SPECTRUMFor illustrative purposes only; please consult an investment profile or prospectus for detailed risk/return information.

RS2070_RISKRET 814

HIGHER RETURN/HIGHER RISK

LOWER RETURN/LOWER RISK

Specialty1 Prudential Jennison Natural Resources Fund A

International/Global2 American Funds EuroPacific Growth R3

Invesco Developing Markets A MFS International Value R3 Oppenheimer International Growth A

Small-cap3 Dreyfus Small Cap Stock Index

Goldman Sachs Small Cap Value A Invesco Small Cap Equity A MFS New Discovery R3

Mid-cap4 Dreyfus Midcap Index

Lord Abbett Value Opportunities A Victory Sycamore Established Value A

Large-cap American Century Equity Income A

Domini Impact Equity INV Dreyfus S&P 500 Index Franklin Growth A

Asset allocation/Balanced* MM RetireSMART 2015 R4

MM RetireSMART 2025 R4 MM RetireSMART 2035 R4 MM RetireSMART 2045 R4 MM RetireSMART In Retirement R4

Bonds5 Dreyfus Bond Market Index INV

JPMorgan Core Bond A Loomis Sayles Bond Admin Templeton Global Bond A

Money market/Stable value6 General (Declared Rate) Account

JPMorgan U.S. Government Money Market Reserve

19

20

1 The fund’s investments are concentrated in a specific industry or sector, and are subject to greater risk than traditional diversified equity funds.

2 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.

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

4 Mid-cap stocks generally have higher risk characteristics than large-company stocks.

5 Securities rated “BB” and below are 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.

6 Money market funds are 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 it in the fund. If a money market fund is pending liquidation under the U.S. Treasury Department’s Guarantee Program, there may be a period of time in which assets cannot be invested or redeemed.

* Does not include asset allocation models, if available in your plan.

21

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17

4 A

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6 S

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13

Inve

stm

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in f

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secu

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volv

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Consistent with our commitments stated above, please know that if any sharing of your personal information will require us to give you the option to opt-out of or opt-in to the information sharing, we will provide you with this option. This notice is provided by the following companies: Massachusetts Mutual Life Insurance Company (MassMutual), MML Bay State Life Insurance Company, C.M. Life Insurance Company, and MML Investors Services, Inc. For more information regarding MassMutual’s privacy and security practices, please visit www.massmutual.com. Please note: customers with multiple MassMutual products may receive more than one copy of this notice.

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

The information contained in this enrollment book is not intended or written as specific legal or tax advice and may not be relied on for purposes of avoiding any federal tax penalties. Neither MassMutual nor any of its employees or representatives are authorized to give legal or tax advice. You must rely on the advice of your own independent tax counsel.

MML Distributors, LLC Supervisory Office 100 Bright Meadow Blvd Enfield, CT 06082. Member FINRA and SIPC.

RS1964 215

MassMutual is proud to print on Forest Stewardship Council-certified paper. FSC certification ensures that the paper we print on contains fiber from well-managed and responsibly harvested forests that meet strict environmental and socioeconomic standards.

RS2070_BKCVR 617

.com.© 2017 Massachusetts Mutual Life Insurance Company (MassMutual), Springfield, MA 01111-0001. All rights reserved. www.massmutual

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