PERFORMANCE Funded by a Group Variable Annuity

PERFORMANCE Funded by a Group Variable Annuity PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. Total return includes capital appreciation (depre...
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PERFORMANCE Funded by a Group Variable Annuity PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. Total return includes capital appreciation (depreciation), realized gains (losses), plus dividend or interest income. The investment return and principal value of an investment will fluctuate so that when units/shares are redeemed they may be worth more, or less, than the original cost. Results shown do not take into account personal income taxes or capital gains taxes. Current performance may be lower or higher than the performance data quoted. For current performance information to the most recent month-end, refer to our website at http://retirement.massmutual.com/rsgovnp/. * Returns are net of total fund operating expenses and a mortality, expense risk and administrative charge (ME&A). The maximum ME&A charge for your plan is 1.25%; however, your plan's exact ME&A charge may be lower. Refer to a current fee schedule for charges applicable to your plan. Investment options are available through group variable annuity contracts (HL-15811, HL-17402, HVL-11002, HVL-21002 series, and HL-20325 series). All contracts are issued by Hartford Life Insurance Company (Simsbury, CT). Effective January 1, 2013, contracts HVL-11002 and HVL-21002 series are underwritten by MML Distributors, LLC. Contracts are administered by Massachusetts Mutual Life Insurance Company. Total return includes capital appreciation (depreciation), realized gain (loss), plus reinvested dividend or interest income. Results shown do not take into account personal income taxes or capital gains taxes. Performance is stated after deduction for total fund operating expenses, applicable separate account charges, and all other applicable contract fees. With respect to all performance displayed, where inception of the underlying fund precedes that of the separate account, performance is given since the inception of the underlying fund (whereas the inception date for Separate Account 457 is 12/31/1998, and the inception date for Separate Account 14 is 3/15/2005). In such cases, the performance given is hypothetical and is based on the actual performance of the underlying fund. This material must be preceded or accompanied by currently effective disclosure documents. Investors should consider an investment's objectives, risks, charges and expenses carefully before investing. Read this information carefully before you invest or send money. Questions should be directed to your local Financial Professional, our Customer Service Center at 1-800-528-9009, or our website at http://retirement.massmutual.com/rsgovnp/. 1

The fund's investments are concentrated in a specific industry or sector, and are subject to greater risk than traditional diversified equity funds. Investments 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. 3 Small Cap stocks generally have higher risk and return characteristics than large-company stocks. 4 Mid Cap stocks generally have higher risk and return characteristics than large-company stocks. 5 Securities rated below investment grade "BBB" are commonly referred to as "high yield, high risk" securities, or "junk bonds." 2

Period Ending January 31, 2016

Total Return ————————————

Annual Total Return* ———————————————————————

INVESTMENT CHOICES Morningstar Category

Month

3 Mo.

YTD

1 Yr.

3 Yr.

Real Estate

-3.63%

-3.11%

-3.63%

-6.79%

7.89%

9.71%

6.30%

N/A

5/1/1995

World Stock Foreign Large Growth Foreign Large Blend Foreign Large Blend

-4.99% -6.09% -5.73% -2.80%

-7.79% -8.64% -8.97% -3.36%

-4.99% -6.09% -5.73% -2.80%

-7.10% -7.80% -7.63% 0.85%

5.07% 1.64% 0.57% 8.18%

5.59% 2.24% 1.33% 8.42%

4.81% 3.32% 1.31% 6.19%

N/A N/A 2.79% N/A

3/26/1993 4/16/1984 6/30/1997 10/24/1995

5 Yr.

10 Yr.

Since Incept

Inception Date

SPECIALTY Invesco Real Est1

INTERNATIONAL/GLOBAL AF Capital World G&I2 AF EuroPacific Grth2 Drey Intl Stk Indx2 MFS Intl Value2

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State of Iowa 457 Employee Contribution Plan-01/31/2016

PERFORMANCE Funded by a Group Variable Annuity Period Ending January 31, 2016

Total Return ————————————

Annual Total Return* ———————————————————————

INVESTMENT CHOICES Morningstar Category

Month

3 Mo.

YTD

1 Yr.

Diversified Emerging Mkts Foreign Large Growth

-5.80% -4.93%

-9.67% -6.29%

-5.80% -4.93%

Small Value Small Growth Small Blend

-8.83% -9.44% -7.65%

-11.87% -10.67% -9.92%

Mid-Cap Value Mid-Cap Blend Mid-Cap Blend Mid-Cap Growth

-5.28% -4.84% -7.44% -6.85%

Large Growth Large Value Large Blend Large Value Large Growth Large Blend Large Blend

10 Yr.

Since Incept

Inception Date

3 Yr.

5 Yr.

-17.81% -1.93%

-6.42% 3.05%

-2.40% 4.87%

4.61% 4.91%

N/A 7.79%

11/18/1996 3/25/1996

-8.83% -9.44% -7.65%

-8.48% -12.37% -9.06%

5.65% 4.18% 7.42%

6.47% 6.42% 8.50%

6.04% 5.01% 6.28%

10.40% 8.56% N/A

7/31/1998 10/1/1997 11/13/2000

-9.89% -8.75% -9.65% -9.86%

-5.28% -4.84% -7.44% -6.85%

-12.55% -8.75% -6.84% -8.97%

3.07% 8.42% 9.58% 7.09%

6.16% 6.67% 9.32% 8.43%

5.98% 4.99% 6.49% 6.05%

9.46% N/A 9.26% 9.59%

3/28/2001 6/30/1993 11/12/2001 6/24/1998

-5.91% -4.73% -8.30% -4.80% -6.59% -4.97% -5.65%

-7.42% -5.69% -9.76% -6.35% -7.80% -6.19% -7.05%

-5.91% -4.73% -8.30% -4.80% -6.59% -4.97% -5.65%

-0.24% -3.55% -5.01% -1.93% -4.83% -0.69% -2.59%

10.80% 8.74% 9.33% 9.91% 9.72% 11.26% 10.50%

9.37% 8.10% 7.14% 9.41% 8.35% 10.87% 10.38%

7.09% 4.80% 5.62% 6.83% 5.94% 6.47% 6.52%

N/A N/A 12.72% N/A 8.46% N/A 9.18%

10/31/1958 9/23/1931 4/2/1984 3/8/1994 3/16/1994 11/13/2000 4/27/1995

-1.55% -2.39% -3.86% -5.23%

-2.98% -3.96% -5.72% -7.30%

-1.55% -2.39% -3.86% -5.23%

-3.66% -4.25% -5.32% -6.54%

2.17% 2.75% 3.22% 3.48%

3.90% 4.28% 4.60% 4.77%

4.11% 3.67% 3.46% 3.20%

N/A N/A N/A N/A

2/25/1994 2/25/1994 2/25/1994 2/25/1994

INTERNATIONAL/GLOBAL Oppenheimer Dev Mkts2 Oppenheimer Intl Gr2

SMALL CAP AmCent SC Value3 Baron Small Cap3 Vanguard SC Index3

MID CAP Artisan MidCap Value4 RS Value4 Vanguard MC Index4 Vict Mun MC Cor Gr4

LARGE CAP AmCent Growth Eaton Vance LC Value Htfd Cap App HLS Htfd Div & Grwth HLS NB Socially Resp Vanguard 500 Index Vanguard Tot Stk Mkt

ASSET ALLOCATION/BALANCED BlckRck LfPth Retire BlckRck LifePth 2020 BlckRck LifePth 2030 BlckRck LifePth 2040

1-800-528-9009

Retirement Income Target Date 2016-2020 Target Date 2026-2030 Target Date 2036-2040

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State of Iowa 457 Employee Contribution Plan-01/31/2016

PERFORMANCE Funded by a Group Variable Annuity Period Ending January 31, 2016

Total Return ————————————

Annual Total Return* ———————————————————————

INVESTMENT CHOICES Morningstar Category

Month

3 Mo.

YTD

1 Yr.

3 Yr.

Target Date 2046-2050 Moderate Allocation

-5.65% -4.48%

-7.76% -6.62%

-5.65% -4.48%

-6.92% -6.77%

4.02% 5.33%

5.12% 5.55%

N/A 6.01%

3.58% 9.86%

6/30/2008 11/1/1995

Intermediate Government High Yield Bond Intermediate-Term Bond Inflation-Protected Bond Intermediate-Term Bond Intermediate-Term Bond

1.75% -1.50% 0.64% 1.19% 0.99% 1.42%

1.18% -6.29% -0.27% -0.41% 0.67% 0.80%

1.75% -1.50% 0.64% 1.19% 0.99% 1.42%

0.26% -7.36% -1.73% -5.13% -1.11% -0.47%

1.37% 0.23% 1.51% -2.60% 1.31% 2.05%

2.49% 3.39% 3.67% 2.19% 3.42% 3.41%

3.74% 5.14% 4.17% 3.98% 5.60% 4.63%

5.03% 5.76% N/A 5.83% N/A 4.38%

2/10/1993 8/1/1997 8/31/1977 1/29/1997 5/11/1987 11/12/2001

5 Yr.

10 Yr.

Since Incept

Inception Date

ASSET ALLOCATION/BALANCED BlckRck LifePth 2050 Oakmark Eq & Inc

BOND Goldman Sachs GvInc Goldman Sachs HY5 Htfd TotRet Bond HLS PIMCO Real Return PIMCO Total Return Vanguard Tot Bnd Mkt

GENERAL (DECLARED RATE) ACCOUNT 1st Q 16: 4.00% The Declared Rate set forth above is credited through the close of the calendar year on contributions received during the designated calendar quarter. For contributions received prior to January 1, 2016, the Declared Rate is 4.00%. Rates quoted are effective annual yields.

Period Ending January 31, 2016

Total Return

Avg Annual Total Return

—————————————————

BENCHMARK INDICES

Month

3 Mo.

S&P 500 Index1 BarCap Gov/Corp Indx2 NASDAQ3

-4.96%

-6.18%

———————————————————————————

YTD

1 Yr.

-4.96%

-0.67%

3 Yr.

5 Yr.

11.30%

10 Yr.

10.91%

6.48%

1.41%

0.65%

1.41%

-1.06%

1.95%

3.67%

4.63%

-7.86%

-8.70%

-7.86%

-0.46%

13.66%

11.31%

7.18%

Market indices have been provided for comparison purposes only. We believe that the indices are representative of the investment objectives of the investment options in your plan. These indices are unmanaged and are not available for direct investment. 1

S&P is an index which measures broad-based changes in stock market conditions based on the average performance of 500 widely held common stocks. The Barclay's Capital Government/Corporate Bond Index, an unmanaged list of U.S. Treasury/Agency and investment grade corporate debt securities, is used as a general measure of performance of fixed income securities. 3 NASDAQ is a computerized system that provides brokers and dealers with price quotations for securities traded over the counter as well as for many NYSE listed securities. 2

1-800-528-9009

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State of Iowa 457 Employee Contribution Plan-01/31/2016

Investment Option Menu Disclosure Chart Funded by a Group Variable Annuity Period Ending January 31, 2016

Expenses (%)

Underlying Fund Share Class

Fees/Payments We Receive from the Funds††† *

INVESTMENT CHOICES

—————————————————————————— Total Annual Mortality, Expenses, Total Underlying Fund and Administration Operating Expenses † Charge †† —————————————————————————— Gross Net(A) (B) (A + B)

SPECIALTY Invesco Real Est

R5

0.35%

0.87%

0.87%

0.00%

0.87%

R4 R4

0.35% 0.35% 0.35% 0.63% 0.30% 0.55%

0.79% 0.84% 0.61% 1.09% 1.03% 1.14%

0.79% 0.84% 0.60% 1.03% 1.05% 1.14%

0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

0.79% 0.84% 0.60% 1.03% 1.05% 1.14%

Admiral

0.35% 0.40% 0.00%

1.25% 1.31% 0.09%

1.25% 1.31% 0.09%

0.00% 0.00% 0.00%

1.25% 1.31% 0.09%

INV A Admiral Y

0.35% 0.40% 0.00% 0.25%

1.20% 1.35% 0.09% 1.07%

1.19% 1.30% 0.09% 1.07%

0.00% 0.00% 0.00% 0.00%

1.19% 1.30% 0.09% 1.07%

INV A

0.35% 0.55%

0.97% 1.01%

0.97% 1.01%

0.00% 0.00%

0.97% 1.01%

INTERNATIONAL/GLOBAL AF Capital World G&I AF EuroPacific Grth Drey Intl Stk Indx MFS Intl Value Oppenheimer Dev Mkts Oppenheimer Intl Gr

R3 Y A

SMALL CAP AmCent SC Value Baron Small Cap Vanguard SC Index

INV

MID CAP Artisan MidCap Value RS Value Vanguard MC Index Vict Mun MC Cor Gr

LARGE CAP AmCent Growth Eaton Vance LC Value

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Investment Option Menu Disclosure Chart Funded by a Group Variable Annuity Period Ending January 31, 2016

Expenses (%)

Underlying Fund Share Class

Fees/Payments We Receive from the Funds††† *

INVESTMENT CHOICES

—————————————————————————— Total Annual Mortality, Expenses, Total Underlying Fund and Administration Operating Expenses † Charge †† —————————————————————————— Gross Net(A) (B) (A + B)

LARGE CAP Htfd Cap App HLS Htfd Div & Grwth HLS NB Socially Resp Vanguard 500 Index Vanguard Tot Stk Mkt

IA IA Trust Admiral Admiral

0.25% 0.25% 0.35% 0.00% N/A

0.66% 0.67% 1.03% 0.05% 0.05%

0.66% 0.67% 1.03% 0.05% 0.05%

0.00% 0.00% 0.00% 0.00% 0.00%

0.66% 0.67% 1.03% 0.05% 0.05%

Inst Inst Inst Inst Inst I

0.20% 0.20% 0.20% 0.20% 0.20% 0.25%

0.98% 0.99% 1.18% 1.19% 1.00% 0.74%

0.67% 0.68% 0.85% 0.85% 0.68% 0.74%

0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

0.67% 0.68% 0.85% 0.85% 0.68% 0.74%

A A IA Admin Admin Admiral

0.55% 0.55% 0.25% 0.25% 0.25% 0.00%

1.05% 1.06% 0.50% 0.75% 0.71% 0.09%

0.91% 1.06% 0.50% 0.70% 0.71% 0.09%

0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

0.91% 1.06% 0.50% 0.70% 0.71% 0.09%

ASSET ALLOCATION/BALANCED BlckRck LfPth Retire BlckRck LifePth 2020 BlckRck LifePth 2030 BlckRck LifePth 2040 BlckRck LifePth 2050 Oakmark Eq & Inc

BOND Goldman Sachs GvInc Goldman Sachs HY Htfd TotRet Bond HLS PIMCO Real Return PIMCO Total Return Vanguard Tot Bnd Mkt

You should carefully consider the investment objectives, risks, charges and expenses of the group variable annuities and their underlying funds before investing. This and other information can be found in the prospectus or disclosure documents, where applicable. To obtain the applicable disclosure documents or underlying fund prospectuses call 1-800-528-9009. Read them carefully before you invest or send money. This table shows only the asset-based fees, charges and expenses associated with the investment choices of the group variable annuity contract. Please refer to the product prospectus or disclosure documents, as applicable, for information on other fees and charges that may apply to your plan's contract such as a contingent deferred sales charge, annual maintenance fee, and other fees or charges, if applicable.

1-800-528-9009

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State of Iowa 457 Employee Contribution Plan-01/31/2016

Investment Option Menu Disclosure Chart Funded by a Group Variable Annuity

† These are the Total Annual Fund Operating Expenses for each underlying fund as of its most recent prospectus. Total Annual Fund Operating Expenses are the expenses that are deducted from fund assets, including management fees, Rule 12b-1 distribution and/or service fees, and other expenses. Actual fees and expenses for the underlying funds vary daily. As a result, the fees and expenses for any given day may be greater or less than the Total Annual Fund Operating Expenses listed above in the table. The column under "Gross" lists each underlying fund's Total Annual Fund Operating Expenses before any fee waivers or reimbursements. The column under "Net" represents each underlying fund's Total Annual Fund Operating Expenses after any fee waivers or reimbursements. More detail concerning each underlying fund's fees and expenses is contained in the prospectus for each fund. †† We deduct the mortality, expense risk and administrative charge from the assets of the Separate Account on a daily basis at the annual rate shown above. If the mortality, expense risk and administrative charge under a Contract is insufficient to cover actual costs incurred by us, we will bear the loss. If the mortality, expense risk and administrative charge exceeds these costs, we will keep the excess as profit. We may use these profits, as well as fees and payments received from the fund families, for any proper corporate purpose, including, among other things, payment of sales expenses, including our expenses of paying compensation to broker-dealers, financial institutions and other persons for selling the Contracts. We expect to make a profit from the mortality, expense risk and administrative charge. ††† We receive these fees and payments with respect to the Funds that are offered as variable investment options to your plan through your Contract (sometimes referred to generally as "revenue sharing" payments). We consider these fees and payments, among a number of other factors, when deciding to include a Fund in the Investment Option Menus. Virtually all of the Funds on the Investment Option Menus make these payments to us and/or our affiliates. For more information about these fees and payments please refer to our Disclosure Statement - Reasonable Contract or Arrangement under ERISA Section 408(b)(2). Copyright 2015 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.

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