PL Portfolio Optimization

Moderate

Target Allocation
Cash Equivalents 2%
Fixed Income 38
Domestic Equity 44
International Equity 16

Underlying Fund Target Allocations

(as of 07/01/09) Although the funds expect to be fully invested at all times, they may maintain liquidity reserves to meet redemption requests.



Fund Manager Funds Allocation
Alger PL Small-Cap Growth 1
AllianceBernstein PL International Value 4
ClearBridge PL Large-Cap Value 10
Goldman Sachs PL Short Duration Bond 5
Highland Capital PL Floating Rate Loan 5
Janus PL Growth LT 5
Lazard PL Mid-Cap Equity 6
UBS PL Large-Cap Growth 4
MFS PL International Large-Cap 6
NFJ PL Small-Cap Value 2
OppenheimerFunds PL Main Street® Core 9
OppenheimerFunds PL Emerging Markets 3
PIMCO PL Managed Bond 17
PIMCO PL Inflation Managed 11
Van Kampen PL Comstock 8
Van Kampen PL Real Estate 2
Van Kampen PL Mid-Cap Growth 2

Investor Profile

You want the opportunity for long-term, moderate growth.

Investment Goal

Seeks long-term growth of capital and low-to-moderate income.

Main Investments

Underlying funds that invest in fixed income securities, equity securities of both U.S. and non-U.S. companies of any size, money market instruments, and derivative instruments.

Main Risks

There will probably be some losses in the values of the underlying investments from year to year.  Fluctuations in asset values should normally be less than those of the overall stock markets.

Asset allocation does not guarantee future results, ensure a profit, or protect against loss.  Investment in an individual fund or funds in a single asset class may outperform or underperform an asset allocation fund.

The funds are exposed to the same risks as the underlying funds in direct proportion to the allocation of assets among those funds.