[DESCRIPTION: Prudential logo. On screen text. I'm thinking of withdrawing money from my retirement savings. What should I know before I do?]

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>> Hi. I'm Cornell Fields, a Retirement Counselor at Prudential.

I often hear from folks who are struggling financially and are considering a withdrawal or loan from their retirement savings to make ends meet.

There are some important points you should consider before taking money out of your retirement account.

The first is the impact on your savings.

Taking money out of your account during a market downturn may limit your ability to recover your losses.

If the investments within your retirement plan lineup have experienced a downturn because of current market conditions, cashing out and selling your shares now will lock in your losses.

That's because when you cash out the money is no longer invested in your account when the market recovers.

What's more, the money you withdraw or borrow from your retirement account loses its potential to grow for you.

[DESCRIPTION: When you take money out of your retirement account: No longer invested when the market recovers. Loses potential for compound growth. Loan and withdrawal options vary by plan. Refer to your plan rules.]

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Keeping your money invested and working for you is compounding, and it's one of the most powerful tools to boost retirement savings.

The second thing to consider is how to take your money.

In general, there are two ways you might be able to take money out of your account -- a withdrawal and a loan.

A withdrawal is when you permanently remove money from your account.

If you do this, you will have to pay a penalty fee and taxes on it.

If you take a loan from your account, it must be repaid in a specific period of time and with after-tax dollars.

That's important because it means you may not benefit from the reduction in taxable income while making those repayments.

Every plan has different requirements around payments and interest, so make sure you ask for all of the details before you decide.

[DESCRIPTION: Carefully consider all of the details.]

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But we encourage you to keep your long-term saving goals a priority and be sure to explore all of your financial options before making a decision.

There are great tools and information available on your plan website to help you.

[DESCRIPTION: Prioritize long-term savings goals. Explore all options before making a financial decision. Take advantage of tools and resources available to you.]

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Remember -- Prudential is here to help you save and prepare for your financial future, as well as help you manage short-term financial needs.

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[DESCRIPTION: On screen text. Empower. This material is intended to provide information only. This material is not intended as advice or recommendation about investing or managing your retirement savings. By sharing this information, Prudential Retirement is not acting as your fiduciary as defined by the Department of Labor or otherwise. If you need investment advice, 
please consult with a qualified professional. Securities, when presented, are offered and/or distributed by GWFS Equities, Inc., Member FINRA/SIPC. GWFS is an affiliate of Empower Retirement, LLC; Great-West Funds, Inc.; and registeredinvestment adviser, Advised Assets Group, LLC. This material is for informational purposes only and is not intended to provide investment, legal or tax recommendations or advice.© 2022 Prudential Financial, Inc. and its related entities. Prudential, the Prudential logo, and the Rock symbol are service marks of Prudential Financial, Inc. and its related entities, registered inmany jurisdictions worldwide. 1035530-00002-00. NOT01_VI_RE82_03.]

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[DESCRIPTION: On screen text. No Action Required: For Your Information. Overview. As of April 1, 2022, Empower acquired the full service retirement business of Prudential Retirement. Over a period of time, you may see references to Prudential and Empower, as we transition our experiences. Throughout this process, we want you to know that our focus is on you and making this transition as seamless as possible. For your reference, outlined below is the entity level detail of the acquisition, including important information to help determine who will be servicing your account or other products. Post-close. On April 1, 2022, Great-West Life and Annuity Insurance Company (G W L A), the parent company of Empower Retirement, L L C (Empower) acquired the full service retirement business of Prudential Financial, Incorporated in connection with the transaction. G W L A acquired all shares of the following entities, which are no longer affiliated with Prudential Financial, Incorporated: Prudential Retirement Insurance and Annuity Company, Prudential Bank and Trust, F S B, Global Portfolio Strategies, Incorporated, T B G Insurance Services Corporation, M C Insurance Agency Services, L L C and Mullin T B G Insurance Agency Services, L L C. Please use the following to determine if Empower is now the service provider for your account. If you have multiple accounts, you may be a customer of Prudential Financial, Incorporated and its affiliates (together, Prudential) and Empower.]


[DESCRIPTION: A table with two columns: Account Type and Service Provider. Data includes questions and answers. Row 1. If you are an annuitant, contingent annuitant, or other beneficiary under a group-annuity contract issued or reinsured by Prudential's pension risk transfer business or plan participant whose benefit is administered by Prudential's pension risk transfer business. Your account remains with Prudential and was not impacted by the the transaction. The Important Disclosures Regarding the Empower Transaction listed below do not apply to your account. How do I know if this applies to me? You were previously issued an annuity certificate from the Prudential Insurance Company of America in connection with your employer's defined benefit plan or previously received a communication from your employer that Prudential has issued a guaranteed annuity covering all or a portion of your pension benefit or pays your pension benefit. Row 2. If you independently purchased an individual annuity, life insurance or investment product with Prudential. Your account remains with Prudential and was not impacted by the transaction. The Important Disclosures Regarding the Empower Transaction listed below do not apply to your account. How do I know if this applies to me? You independently purchased a product from Prudential (other than a SmartSolutions I R A) that is unrelated to an employer workplace plan. The product you purchased is issued by The Prudential Insurance Company of America (P I C A), Prudential Annuities Life Assurance Corporation (P A L A C), Pruco Life Insurance Company, or Pruco Life Insurance Company of New Jersey. You purchased an investment product or service through Pruco Securities, L L C. Row 3. If you are a participant in the Prudential Employee Savings Plan (P E S P), the Jennison Associates Savings Plan, the Assurance Savings Plan, the Prudential Supplemental Employee Savings Plan, the Prudential Financial, Incorporated 2021 Omnibus Incentive Plan, and the attendant Prudential Long-Term Incentive Program, the Prudential Financial, Incorporated 2016 Deferred Compensation Plan for Non-Employee Directors or the P G I M, Incorporated Omnibus Deferred Compensation Plan. Empower is currently providing services to the plans as a sub-contractor to Prudential for a transitional period. During this period, Prudential will remain the service provider for the plans. Please carefully review the Important Disclosures Regarding the Empower Transaction below that apply to you, as applicable. How do I know if this applies to me? You receive statements and other notifications from Prudential in connection with one or more of these plans. Row 4. If you are a participant in a retirement plan previously serviced by Prudential Retirement, which may include defined benefit plans, non-qualified plans, defined contribution plans, and 401 K plans (including a plan that permits self-directed brokerage accounts), or you are an account holder of a SmartSolution I R A, Auto Roll I R A, or N F S Prudential Brokerage Account. Empower is now the service provider for your account. However, with respect to Smart Solution I R A accounts, and certain Auto Roll I R A's, Prudential Investment Management Services L L C (P I M S) remains the broker-dealer for a transitional period. Please carefully review the Important Disclosures Regarding the Empower Transaction below that apply to you. How do I know if this applies to me? You receive a notification from Prudential Retirement notifying you that Empower will become the service provider for your account. You receive a welcome email or letter from Empower.]


[DESCRIPTION: Important Disclosures Regarding the Empower Transaction. Effective April 1, 2022, the following will apply to you: All references to Prudential Retirement refer to Empower. Prudential Retirement is no longer a business unit of Prudential. Certain insurance products written by The Prudential Insurance Company of America were reinsured to G W L A and Great-West Life and Annuity Insurance Company of New York (for New York business). Empower Retirement will become the administrator of this business acquired from Prudential. Empower Retirement refers to the products and services offered by G W L A and its subsidiaries, including Empower Retirement, L L C. Empower Retirement is not affiliated with Prudential or its affiliates. Full-service retirement sales personnel and certain service personnel are no longer registered representatives of Prudential Investment Management Services, L L C (P I M S) and are registered representatives of G W F S Equities, Incorporated. For a transitional period, certain back office service personnel will remain registered representatives of P I M S. During a transition period, Prudential and, as applicable, its affiliates will continue to provide services to Empower. P I M S will continue to provide certain broker-dealer services under the terms of existing services agreements for certain plans and will continue to be the broker-dealer of record for existing SmartSolution I R A accounts and certain Auto Roll I R A accounts for a transitional period. Any documents pertaining to fraud or security commitments by Prudential Retirement are no longer applicable and are replaced with Empower's commitments set forth at https://participant.empower-retirement.com/participant/#/articles/securityGuarantee. If Empower is the service provider for your account, Prudential's Privacy Statements and Privacy Notices are replaced with Empower's Privacy Notice set forth at https://www.empower-retirement.com/privacy for that account. All product names, logos, and brands are property of their respective owners. Empower, Empower Retirement, all associated logos, and product names are trademarks of Great-West Life and Annuity Insurance Company, Prudential, the Prudential logo and the Rock Design are trademarks of Prudential Financial, Incorporated and its affiliates and are used under license. Information provided herein, including linked documents, is being provided for informational or educational purposes only. By sharing it, neither P I M S nor Prudential is acting as your fiduciary as defined by the Department of Labor or otherwise. If you need investment advice, please consult with a qualified professional. Prudential Financial, its affiliates, and other financial professionals do not render tax or legal advice. Please consult with your tax and legal advisors regarding your personal circumstances. Have additional questions? For Prudential accounts and products, please call 800-621-1089. For Empower accounts and products, please call 877-778-2100. Empower Participant 4 point 2022.]