¹ If available under your employer’s plan, you may generally enroll in the model portfolio and investment advisory services program (i.e., Semester Strategies^®) of SWBC Investment Advisory Services LLC (“SWBC”) to manage your account value. The program will allocate your account value among the variable investment options, guaranteed interest option (GIO) and Segments in the SIO, based on your set time horizon, risk tolerance and investment return objectives derived by SWBC from information you provide to SWBC. SWBC Retirement Plan Services is an unaffiliated third party and is a wholly owned subsidiary of SWBC, which was established in 1976. Advisory services are offered by SWBC Investment Advisory Services, LLC, d/b/a SWBC Retirement Plan Services, a registered investment advisor with the Securities and Exchange Commission. SWBC Retirement Plan Services focuses exclusively on serving the retirement plan market. Equitable has entered into an agreement to make SWBC Retirement Plan Services’ fiduciary services available to EQUI-VEST ^® clients through Semester Strategies ^®.

A variable deferred annuity, such as EQUI-VEST ^®, is a long-term financial product that is designed for retirement purposes. In essence, it is a contractual agreement in which payments are made to an insurance company, which agrees to pay an income stream or lump-sum amount at a later date. There are contract limitations, fees and charges associated with variable deferred annuities, which include, but are not limited to, mortality and expense risk charges, withdrawal charges and administrative fees. For costs and complete details, see the prospectus or contact your financial professional. The variable investment options offered in this contract will fluctuate and are subject to market risk, including loss of principal.

As is the case with any investment or investment feature, it’s important for current and prospective EQUI-VEST ^® variable annuity contract holders to understand all applicable restrictions and limitations associated with Semester Strategies^®. As some examples, the EQUI-VEST ^® variable annuity contract holder’s planned retirement age cannot be later than the maturity date under their contract, and those currently invested in the Personal Income Benefit SM (PIB) are not eligible to participate in Semester Strategies^® (Program) at this time. Also, those with current investments in the Structured Investment Option (SIO) may not be eligible to participate in the Program if their current SIO allocations are higher than the model portfolio allocations to the SIO.

The EQUI-VEST ^® variable annuity is offered by prospectus, which provides important information about the annuity’s restrictions, limitations, risks, charges, expenses and investment objectives. Current EQUI-VEST ^® contract holders, please consult your prospectus and the prospectus for the underlying portfolios containing this and other important information. Prospective clients, please contact Equitable Financial Life Insurance Company (Equitable Financial) or an Equitable Advisors Financial Professional for these prospectuses and read them carefully before you invest or send money.

Important note: Equitable believes that education is a key step toward addressing your financial goals, and we’ve designed this material to serve simply as an informational and educational resource. Accordingly, this brochure does not offer or constitute investment advice, and makes no direct or indirect recommendation of any particular product or the appropriateness of any particular investment-related option. Your needs, goals and circumstances are unique, and they require the individualized attention of your financial professional.

EQUI-VEST ^® is a registered service mark of, and is issued by, Equitable Financial Life Insurance Company, NY, NY 10104. Equitable Advisors Financial Professionals offer securities through Equitable Advisors, LLC (NY, NY (212) 314-4600), member FINRA, SIPC (Equitable Financial Advisors in MI & TN), and offer annuity and insurance products through Equitable Network, LLC (Equitable Network Insurance Agency of California, LLC; Equitable Network Insurance Agency of Utah, LLC; Equitable Network of Puerto Rico, Inc.).

Variable Annuities: Are Not a Deposit of Any Bank • Are Not FDIC Insured • Are Not Insured by Any Federal Government Agency • Are Not Guaranteed by Any Bank or Savings Association • May Go Down in Value