JNLNY Separate Account I
04/29/2024 | Press release | Distributed by Public on 04/29/2024 07:20
Updating Summary Prospectus - Form 497VPU
Document
UPDATING SUMMARY PROSPECTUS
April 29, 2024
JACKSON RETIREMENT INVESTMENT ANNUITY®
FLEXIBLE PREMIUM VARIABLE AND FIXED DEFERRED ANNUITY
Issued by
Jackson National Life Insurance Company of New York® through
JNLNY Separate Account I
This Updating Summary Prospectus provides certain updated information about your Jackson Retirement Investment Annuity Flexible Premium Variable and Fixed Deferred Annuity contract ("Contract"). This Updating Summary Prospectus also provides a summary of Contract features that have changed.
The prospectus for the Contract contains more information about the Contract, including its features, benefits, and risks. You can find the current prospectus and other information about the Contract online at www.jackson.com/product-literature-3.html. To request a free paper or e-mail copy of this information, please call 1-800-599-5651 or send an email request to [email protected].
Additional information about certain investment products, including variable annuities, has been prepared by the Securities and Exchange Commission's staff and is available at www.Investor.gov.
The Securities and Exchange Commission has not approved or disapproved this Contract or passed upon the adequacy of this Summary Prospectus. Any representation to the contrary is a criminal offense.
| TABLE OF CONTENTS | |
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DEFINITIONS
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1
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UPDATED INFORMATION ABOUT YOUR CONTRACT
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2
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IMPORTANT INFORMATION YOU SHOULD CONSIDER ABOUT THE CONTRACT
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3
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APPENDIX A (FUNDS AVAILABLE UNDER THE CONTRACT)
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A-1
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BACK COVER PAGE
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B-1
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(This page intentionally left blank.)
DEFINITIONS
Contract - the individual deferred variable and fixed annuity contract and any optional endorsements you may have selected.
Contract Anniversary - each one-year anniversary of the Contract's Issue Date.
Contract Year - the succeeding twelve months from a Contract's Issue Date and every anniversary. The first Contract Year (Contract Year 0-1) starts on the Contract's Issue Date and extends to, but does not include, the first Contract Anniversary. Subsequent Contract Years start on an anniversary date and extend to, but do not include, the next anniversary date.
For example, if the Issue Date is January 15, 2025, then the end of Contract Year 0-1 would be January 14, 2026, and January 15, 2026, which is the first Contract Anniversary, begins Contract Year 1-2.
Fixed Account - part of our General Account to which the Contract Value you allocate is guaranteed to earn a stated rate of return over the specified period. The Fixed Account consists of the Fixed Account Options.
Fixed Account Option - a Contract option within the Fixed Account for a specific period under which a stated rate of return will be credited.
Fund - a registered management investment company in which an Investment Division of the Separate Account invests.
General Account - the General Account includes all our assets, including any Contract Value allocated to the Fixed Account, which are available to our creditors.
Investment Division- one of multiple variable options of the Separate Account to allocate your Contract's value, each of which exclusively invests in a different available Fund. The Investment Divisions are called variable because the return on investment is not guaranteed.
Issue Date- the date your Contract is issued.
Jackson of NY, JNLNY, we, our, or us - Jackson National Life Insurance Company of New York. (We do not capitalize "we," "our," or "us" in the prospectus.)
Owner, you, or your - the natural person or legal entity entitled to exercise all rights and privileges under the Contract. Any reference to the Owner includes any joint Owner.
Premium(s) - considerations paid into the Contract by or on behalf of the Owner.
Separate Account - JNLNY Separate Account I. The Separate Account is divided into sub-accounts generally referred to as Investment Divisions.
1
UPDATED INFORMATION ABOUT YOUR CONTRACT
The information in this Updating Summary Prospectus is a summary of certain Contract features that have changed since the prospectus dated May 1, 2023. This may not reflect all of the changes that have occurred since you entered into your Contract.
General Product Changes
No material updates have been made to the terms of your contract since the previous version of the Prospectus you received, dated May 1, 2023.
2
IMPORTANT INFORMATION YOU SHOULD CONSIDER ABOUT THE CONTRACT
| FEES AND EXPENSES | LOCATION IN PROSPECTUS | ||
| Charges for Early Withdrawals | None. | ||
| Transaction Charges | In addition to the Core Contract Charge, you also may be charged for other transactions, such as when you transfer cash value between investment options more than 25 times a year, or if you request expedited delivery or wire transfer of funds. | Contract Charges- Transfer Charge | |
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Ongoing Fees and Expenses
(annual charges)
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The table below describes the fees and expenses that you may pay each year, depending on the options you choose. Please refer to your Contract Data Pages for information about the specific fees you will pay each year based on the options you have elected. The fees and expenses disclosed below do not reflect any advisory fees paid to third party financial professionals from your Contract Value or other assets. If such advisory fees were reflected, the fees and expenses disclosed below would be higher.
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Contract Charges- Add-On Benefit Expenses | |
| ANNUAL FEE | MINIMUM | MAXIMUM | |
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1. Base Contract1
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0.41% | 0.41% | Contract Charges- Annual Contract Expenses: Core Contract Charge |
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2. Investment options (Fund fees and expenses)2
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0.21% | 2.14% | Contract Charges- Fund Expenses |
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3. Optional benefits available for an additional charge (for a single optional benefit, if elected)3
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See current Rate Sheet Prospectus Supplement
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See current Rate Sheet Prospectus Supplement
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Contract Charges- Add-On Benefit Expenses
Rate Sheet Prospectus Supplement
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1.As a percentage of average daily Contract Value of the Investment Divisions.
2.As a percentage of average Fund net assets.
3.The minimum and maximum fees reflect an annualized percentage of the average daily net asset value of your allocations to the Investment Divisions.
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| Because your Contract is customizable, the choices you make affect how much you will pay. To help you understand the cost of owning your Contract, the following table shows the lowest and highest cost you could pay each year, based on current charges. | |||
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LOWEST ANNUAL COST: See Current Rate Sheet Prospectus Supplement
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HIGHEST ANNUAL COST: See Current Rate Sheet Prospectus Supplement
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Rate Sheet Prospectus Supplement | |
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Assumes:
•Investment of $100,000
•5% annual appreciation
•Least expensive combination of Fund fees and expenses
•No add-on benefits
•No sales charges
•No additional purchase payments, or transfers
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Assumes:
•Investment of $100,000
•5% annual appreciation
•Most expensive combination of add-on benefits and Fund fees and expenses
•No sales charges
•No additional purchase payments, or transfers
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3
| RISKS | Location in Prospectus | |
| Risk of Loss | You can lose money by investing in this Contract. | Principal Risks |
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Not a Short-Term Investment |
This Contract is not designed for short-term investing and is not appropriate for an investor who needs ready access to cash. The benefits of tax deferral also mean the Contract is more beneficial to investors with a long time horizon. | Principal Risks |
| Risks Associated with Investment Options |
•An investment in this Contract is subject to the risk of poor investment performance and can vary depending on the performance of the investment options you choose.
•Each investment option (Investment Divisions and Fixed Account Options) has its own unique risks.
•Early withdrawals from a Fixed Account Option are subject to a Market Value Adjustment.
•You should review the investment options before making an investment decision.
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Principal Risks |
| Insurance Company Risks |
Any obligations (including under the Fixed Account Options), guarantees, and benefits of the Contract are subject to the claims-paying ability of Jackson of NY. More information about Jackson of NY is available upon request by visiting our website at www.jackson.com or by calling 1-800-599-5651.
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Principal Risks |
| RESTRICTIONS | ||
| Investments |
•We reserve the right to charge $25 for each transfer when you transfer money between Investment Divisions in excess of 25 times in a Contract Year.
•Jackson of NY may remove or substitute Funds as investment options available under the Contract, and may limit or suspend availability of the Fixed Account Options.
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Principal Risks |
| Optional Benefits |
•Not all add-on benefits are available through all broker-dealers and may vary by date of purchase.
•We may modify or discontinue an add-on benefit at any time.
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Benefits Available Under the Contracts |
| TAXES | ||
| Tax Implications |
•Consult with a tax professional to determine the tax implications of an investment in and purchase payments received under this Contract.
•If you purchase the Contract through a tax-qualified plan or individual retirement account (IRA), you do not get any additional tax deferral.
•Earnings on your Contract are taxed at ordinary income tax rates when you withdraw them, and you may have to pay a penalty if you take a withdrawal before age 59 ½.
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Taxes |
| CONFLICTS OF INTEREST | ||
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Investment Professional Compensation |
Your financial professional or other investment professionals may receive compensation for selling this Contract to you in the form of advisory fees, revenue sharing, and other compensation programs. Accordingly, investment professionals may have a financial incentive to offer or recommend this Contract over another investment. | Distribution of Contracts |
| Exchanges | Some investment professionals may have a financial incentive to offer you a new contract in place of the one you own. You should only consider exchanging your Contract if you determine, after comparing the features, fees, and risks of both contracts, that it is in your best interest to purchase the new contract rather than continue to own your existing Contract. | Non-Qualified Contracts - 1035 Exchanges |
4
APPENDIX A
FUNDS AVAILABLE UNDER THE CONTRACT
The following is a list of Funds (all Class I shares) available under the Contract, which is subject to change, as discussed in the prospectus. Certain broker-dealers selling the Contracts may limit the Investment Divisions that are available to their customers. You can find the prospectuses and other information about the Funds online at https://www.jackson.com/fund-literature.html. You can also request this information at no cost by calling 1-800-599-5651 or by sending an email request to [email protected].
The current expenses and performance information below reflects fees and expenses of the Funds, but does not reflect the other fees and expenses that your Contract may charge. Expenses would be higher and performance would be lower if these charges were included. Each Fund's past performance is not necessarily an indication of future performance.
| Fund Type |
Fund and Manager*
(and Sub-Adviser, if applicable)
*The investment manager for each Fund is Jackson National Asset Management, LLC
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Current Expenses |
Average Annual Total Returns
(as of 12/31/23)
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| 1 year | 5 year | 10 year | |||
| Allocation |
JNL/American Funds Balanced Fund1
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(Investment Adviser to the Master Fund: Capital Research and Management CompanySM)
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0.61%2
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14.18% | 9.12% | 6.17% | |
| Fixed Income |
JNL/American Funds Bond Fund of America Fund1
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(Investment Adviser to the Master Fund: Capital Research and Management CompanySM)
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0.53%2
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4.85% | N/A | N/A | |
| Allocation |
JNL/American Funds Capital Income Builder Fund1
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(Investment Adviser to the Master Fund: Capital Research and Management CompanySM)
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0.66%2
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8.91% | 7.34% | N/A | |
| Fixed Income |
JNL/American Funds Capital World Bond Fund1
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(Investment Adviser to the Master Fund: Capital Research and Management CompanySM)
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0.76%2
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6.10% | -0.34% | 0.32% | |
| International/Global Equity |
JNL/American Funds Global Growth Fund1
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(Investment Adviser to the Master Fund: Capital Research and Management CompanySM)
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0.76%2
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22.49% | 13.62% | N/A | |
| International/Global Equity |
JNL/American Funds Global Small Capitalization Fund1
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(Investment Adviser to the Master Fund: Capital Research and Management CompanySM)
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0.94%2
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16.09% | 8.27% | 5.74% | |
| U.S. Equity |
JNL/American Funds Growth Fund1
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(Investment Adviser to the Master Fund: Capital Research and Management CompanySM)
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0.61%2
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38.46% | 18.65% | N/A | |
| U.S. Equity |
JNL/American Funds Growth-Income Fund1
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(Investment Adviser to the Master Fund: Capital Research and Management CompanySM)
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0.61%2
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26.03% | 13.27% | 10.77% | |
| International/Global Equity |
JNL/American Funds International Fund1
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(Investment Adviser to the Master Fund: Capital Research and Management CompanySM)
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0.87%2
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15.77% | 4.76% | 3.29% | |
| International/Global Equity |
JNL/American Funds New World Fund1
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(Investment Adviser to the Master Fund: Capital Research and Management CompanySM)
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0.96%2
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15.80% | 8.49% | 4.54% | |
| U.S. Equity |
JNL/American Funds® Washington Mutual Investors Fund1
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(Investment Adviser to the Master Fund: Capital Research and Management CompanySM)
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0.63%2
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17.25% | 12.54% | 9.82% |
A-1
| Fund Type |
Fund and Manager*
(and Sub-Adviser, if applicable)
*The investment manager for each Fund is Jackson National Asset Management, LLC
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Current Expenses |
Average Annual Total Returns
(as of 12/31/23)
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| 1 year | 5 year | 10 year | |||
| Alternative | JNL Multi-Manager Alternative Fund | ||||
| (Boston Partners Global Investors, Inc.; DoubleLine Capital LP; First Pacific Advisors, LP; Kayne Anderson Rudnick Investment Management, LLC; Lazard Asset Management LLC; Loomis, Sayles & Company, L.P.; and Westchester Capital Management, LLC) | 2.14% | 11.55% | 4.06% | N/A | |
| International/Global Equity | JNL Multi-Manager Emerging Markets Equity Fund | ||||
| (GQG Partners LLC, Kayne Anderson Rudnick Investment Management, LLC; T. Rowe Price Associates, Inc. (Sub-Sub-Adviser: T. Rowe Price Hong Kong Limited); and WCM Investment Management, LLC) | 0.94% | 10.47% | 1.72% | 0.60% | |
| International/Global Equity | JNL Multi-Manager International Small Cap Fund | ||||
| (Baillie Gifford Overseas Limited; Causeway Capital Management LLC; and WCM Investment Management, LLC) | 0.91% | 22.84% | 11.72% | N/A | |
| U.S. Equity | JNL Multi-Manager Mid Cap Fund | ||||
| (Champlain Investment Partners, LLC; ClearBridge Investments, LLC; Kayne Anderson Rudnick Investment Management, LLC; Nuance Investments, LLC; and Victory Capital Management Inc.) | 0.79% | 12.64% | 11.78% | N/A | |
| U.S. Equity | JNL Multi-Manager Small Cap Growth Fund | ||||
| (BAMCO, Inc.; Granahan Investment Management, Inc.; Kayne Anderson Rudnick Investment Management, LLC; Segall Bryant & Hamill, LLC; Victory Capital Management Inc.; and WCM Investment Management, LLC) | 0.68% | 16.68% | 10.76% | 8.09% | |
| U.S. Equity | JNL Multi-Manager Small Cap Value Fund | ||||
| (Congress Asset Management Company, LLP; Cooke & Bieler, L.P.; Reinhart Partners, Inc.; River Road Asset Management, LLC; and WCM Investment Management, LLC) | 0.81% | 21.37% | 11.95% | 6.56% | |
| Allocation | JNL iShares Tactical Moderate Fund | ||||
| (Mellon Investments Corporation) | 0.47% | 9.87% | 5.27% | N/A | |
| Allocation | JNL iShares Tactical Moderate Growth Fund | ||||
| (Mellon Investments Corporation) | 0.48% | 12.08% | 7.24% | N/A | |
| Allocation | JNL iShares Tactical Growth Fund | ||||
| (Mellon Investments Corporation) | 0.50% | 14.35% | 9.01% | N/A | |
| Allocation | JNL/American Funds Moderate Growth Allocation Fund | ||||
| 0.70% | 14.22% | 7.92% | N/A | ||
| Allocation | JNL/American Funds Growth Allocation Fund | ||||
| 0.71% | 17.58% | 10.07% | N/A | ||
| International/Global Equity | JNL/AB Sustainable Global Thematic Fund | ||||
| (AllianceBernstein L.P.) | 0.84% | 16.03% | N/A | N/A | |
| U.S. Equity | JNL/AQR Large Cap Defensive Style Fund | ||||
| (AQR Capital Management, LLC) | 0.56% | 10.91% | N/A | N/A | |
| International/Global Equity | JNL/Baillie Gifford International Growth Fund | ||||
| (Baillie Gifford Overseas Limited) | 0.69% | 14.09% | 6.62% | N/A | |
| Allocation | JNL/BlackRock Global Allocation Fund | ||||
| (BlackRock Investment Management, LLC; Sub-Sub-Adviser BlackRock International Limited) | 0.76% | 14.35% | 7.98% | 5.02% | |
| Alternative | JNL/BlackRock Global Natural Resources Fund | ||||
| (BlackRock International Limited) | 0.67% | -1.35% | 12.93% | 2.12% |
A-2
| Fund Type |
Fund and Manager*
(and Sub-Adviser, if applicable)
*The investment manager for each Fund is Jackson National Asset Management, LLC
|
Current Expenses |
Average Annual Total Returns
(as of 12/31/23)
|
||
| 1 year | 5 year | 10 year | |||
| U.S. Equity | JNL/BlackRock Large Cap Select Growth Fund | ||||
| (BlackRock Investment Management, LLC) |
0.54%2
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50.11% | 15.80% | 12.79% | |
| International/Global Equity | JNL/Causeway International Value Select Fund | ||||
| (Causeway Capital Management LLC) | 0.67% | 28.79% | 10.61% | 4.36% | |
| U.S. Equity | JNL/ClearBridge Large Cap Growth Fund | ||||
| (ClearBridge Investments, LLC) | 0.64% | 45.05% | 15.57% | N/A | |
| International/Global Equity | JNL/DFA International Core Equity Fund | ||||
| (Dimensional Fund Advisors LP) |
0.55%2
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15.96% | N/A | N/A | |
| U.S. Equity | JNL/DFA U.S. Core Equity Fund | ||||
| (Dimensional Fund Advisors LP) |
0.45%2
|
22.71% | 14.88% | 10.66% | |
| U.S. Equity | JNL/DFA U.S. Small Cap Fund | ||||
| (Dimensional Fund Advisors LP) |
0.64%2
|
17.12% | 12.40% | N/A | |
| Fixed Income |
JNL/DoubleLine® Core Fixed Income Fund
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| (DoubleLine Capital LP) | 0.49% | 6.37% | 1.05% | 1.83% | |
| Fixed Income |
JNL/DoubleLine® Emerging Markets Fixed Income Fund
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| (DoubleLine Capital LP) | 0.78% | 9.83% | 1.76% | N/A | |
| U.S. Equity |
JNL/DoubleLine® Shiller Enhanced CAPE® Fund
|
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| (DoubleLine Capital LP) | 0.72% | 27.81% | 13.51% | N/A | |
| Fixed Income |
JNL/DoubleLine® Total Return Fund
|
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| (DoubleLine Capital LP) | 0.53% | 5.43% | 0.04% | N/A | |
| Fixed Income |
JNL/Fidelity Institutional Asset Management® Total Bond Fund
|
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| (FIAM LLC) | 0.49% | 7.04% | 1.96% | 2.02% | |
| Alternative | JNL/First Sentier Global Infrastructure Fund | ||||
| (First Sentier Investors (Australia) IM Ltd) | 0.83% | 3.05% | 6.68% | 3.54% | |
| Allocation | JNL/Franklin Templeton Income Fund | ||||
| (Franklin Advisers, Inc.) | 0.63% | 8.54% | 7.10% | 5.05% | |
| U.S. Equity | JNL/Goldman Sachs 4 Fund | ||||
| (Goldman Sachs Asset Management, L.P) | 0.40% | 14.78% | 12.87% | N/A | |
| International/Global Equity | JNL/GQG Emerging Markets Equity Fund | ||||
| (GQG Partners LLC) | 1.04% | 29.41% | 9.99% | N/A | |
| International/Global Equity | JNL/Harris Oakmark Global Equity Fund | ||||
| (Harris Associates L.P.) | 0.81% | 20.45% | 11.36% | N/A | |
| Sector Equity | JNL/Heitman U.S. Focused Real Estate Fund | ||||
| (Heitman Real Estate Securities LLC) | 0.81% | 9.89% | 7.41% | N/A | |
| U.S. Equity | JNL/Invesco Diversified Dividend Fund | ||||
| (Invesco Advisers, Inc.) | 0.69% | 8.92% | 9.82% | N/A | |
| International/Global Equity | JNL/Invesco Global Growth Fund | ||||
| (Invesco Advisers, Inc.) | 0.66% | 34.97% | 12.44% | 8.56% | |
| U.S. Equity | JNL/Invesco Small Cap Growth Fund | ||||
| (Invesco Advisers, Inc.) | 0.75% | 12.48% | 9.00% | 7.64% | |
| Allocation | JNL/JPMorgan Global Allocation Fund | ||||
| (J.P. Morgan Investment Management Inc.) |
0.76%2
|
13.02% | 5.79% | N/A | |
| Alternative | JNL/JPMorgan Hedged Equity Fund | ||||
| (J.P. Morgan Investment Management Inc.) | 0.66% | 15.97% | 9.36% | N/A |
A-3
| Fund Type |
Fund and Manager*
(and Sub-Adviser, if applicable)
*The investment manager for each Fund is Jackson National Asset Management, LLC
|
Current Expenses |
Average Annual Total Returns
(as of 12/31/23)
|
||
| 1 year | 5 year | 10 year | |||
| U.S. Equity | JNL/JPMorgan MidCap Growth Fund | ||||
| (J.P. Morgan Investment Management Inc.) | 0.60% | 23.59% | 15.96% | 11.62% | |
| Fixed Income | JNL/JPMorgan U.S. Government & Quality Bond Fund | ||||
| (J.P. Morgan Investment Management Inc.) | 0.39% | 4.51% | 0.81% | 1.53% | |
| U.S. Equity | JNL/JPMorgan U.S. Value Fund | ||||
| (J.P. Morgan Investment Management Inc.) | 0.58% | 9.34% | 10.11% | 6.65% | |
| International/Global Equity | JNL/Lazard International Strategic Equity Fund | ||||
| (Lazard Asset Management LLC) | 0.80% | 16.82% | 7.52% | N/A | |
| International/Global Equity | JNL/Loomis Sayles Global Growth Fund | ||||
| (Loomis, Sayles & Company, L.P.) | 0.71% | 36.76% | 13.72% | N/A | |
| Fixed Income | JNL/Lord Abbett Short Duration Income Fund | ||||
| (Lord, Abbett & Co. LLC) | 0.50% | 5.70% | N/A | N/A | |
| Sector Equity | JNL/Mellon Communication Services Sector Fund | ||||
| (Mellon Investments Corporation) |
0.30%2
|
54.23% | 10.94% | 8.29% | |
| Sector Equity | JNL/Mellon Consumer Discretionary Sector Fund | ||||
| (Mellon Investments Corporation) |
0.29%2
|
39.06% | 15.60% | 12.12% | |
| Sector Equity | JNL/Mellon Consumer Staples Sector Fund | ||||
| (Mellon Investments Corporation) |
0.30%2
|
2.01% | 10.14% | N/A | |
| Sector Equity | JNL/Mellon Energy Sector Fund | ||||
| (Mellon Investments Corporation) |
0.28%2
|
-0.88% | 12.55% | 2.13% | |
| Sector Equity | JNL/Mellon Financial Sector Fund | ||||
| (Mellon Investments Corporation) |
0.29%2
|
15.80% | 11.02% | 9.31% | |
| Sector Equity | JNL/Mellon Healthcare Sector Fund | ||||
| (Mellon Investments Corporation) |
0.28%2
|
1.94% | 10.81% | 10.80% | |
| Sector Equity | JNL/Mellon Industrials Sector Fund | ||||
| (Mellon Investments Corporation) |
0.31%2
|
20.53% | 14.77% | N/A | |
| Sector Equity | JNL/Mellon Information Technology Sector Fund | ||||
| (Mellon Investments Corporation) |
0.27%2
|
58.79% | 25.65% | 19.86% | |
| Sector Equity | JNL/Mellon Materials Sector Fund | ||||
| (Mellon Investments Corporation) |
0.32%2
|
14.59% | 13.92% | N/A | |
| Sector Equity | JNL/Mellon Real Estate Sector Fund | ||||
| (Mellon Investments Corporation) |
0.32%2
|
11.38% | 7.01% | N/A | |
| U.S. Equity | JNL S&P 500 Index Fund | ||||
| (Mellon Investments Corporation) |
0.09%2
|
26.17% | 15.52% | N/A | |
| Sector Equity | JNL/Mellon Utilities Sector Fund | ||||
| (Mellon Investments Corporation) |
0.30%2
|
-7.37% | 6.34% | N/A | |
| U.S. Equity | JNL/MFS Mid Cap Value Fund | ||||
| (Massachusetts Financial Services Company (d/b/a MFS Investment Management)) | 0.65% | 12.67% | 12.99% | 8.07% | |
| U.S. Equity | JNL/Morningstar U.S. Sustainability Index Fund | ||||
| (Mellon Investments Corporation) |
0.36%2
|
26.42% | 16.13% | N/A | |
| U.S. Equity | JNL/Morningstar Wide Moat Index Fund | ||||
| (Mellon Investments Corporation) | 0.46% | 31.78% | 16.98% | N/A | |
| Fixed Income | JNL/Neuberger Berman Strategic Income Fund | ||||
| (Neuberger Berman Investment Advisers LLC) | 0.65% | 10.15% | 3.60% | 3.28% |
A-4
| Fund Type |
Fund and Manager*
(and Sub-Adviser, if applicable)
*The investment manager for each Fund is Jackson National Asset Management, LLC
|
Current Expenses |
Average Annual Total Returns
(as of 12/31/23)
|
||
| 1 year | 5 year | 10 year | |||
| U.S. Equity | JNL/Newton Equity Income Fund | ||||
| (Newton Investment Management North America, LLC) | 0.58% | 10.67% | 15.25% | N/A | |
| Fixed Income | JNL/PIMCO Income Fund | ||||
| (Pacific Investment Management Company LLC) | 0.74% | 8.76% | 3.16% | N/A | |
| Fixed Income | JNL/PIMCO Investment Grade Credit Bond Fund | ||||
| (Pacific Investment Management Company LLC) | 0.54% | 8.00% | 2.57% | N/A | |
| Fixed Income | JNL/PIMCO Real Return Fund | ||||
| (Pacific Investment Management Company LLC) | 0.76% | 4.23% | 3.46% | 2.43% | |
| Fixed Income | JNL/PPM America Floating Rate Income Fund | ||||
| (PPM America, Inc.; FIAM LLC) | 0.64% | 13.52% | 4.33% | N/A | |
| Fixed Income | JNL/PPM America High Yield Bond Fund | ||||
| (PPM America, Inc.) | 0.46% | 13.16% | 5.20% | 3.76% | |
| Fixed Income | JNL/PPM America Total Return Fund | ||||
| (PPM America, Inc.) | 0.49% | 6.94% | 2.15% | N/A | |
| U.S. Equity |
JNL/RAFI® Fundamental U.S. Small Cap Fund
|
||||
| (Mellon Investments Corporation) |
0.32%2
|
17.64% | 10.54% | 5.21% | |
| U.S. Equity |
JNL/RAFI® Multi-Factor U.S. Equity Fund
|
||||
| (Mellon Investments Corporation) | 0.37% | 12.42% | 11.66% | 8.42% | |
| Allocation | JNL/T. Rowe Price Balanced Fund | ||||
| (T. Rowe Price Associates, Inc.; Sub-Sub-Advisers: T. Rowe Price Investment Management, Inc.; T. Rowe Price Australia Limited; and T. Rowe Price International Ltd) |
0.67%2
|
17.76% | 8.78% | N/A | |
| Allocation | JNL/T. Rowe Price Capital Appreciation Fund | ||||
| (T. Rowe Price Associates, Inc.; Sub-Sub-Adviser: T. Rowe Price Investment Management, Inc.) |
0.68%2
|
18.78% | 12.71% | N/A | |
| U.S. Equity | JNL/T. Rowe Price Established Growth Fund | ||||
| (T. Rowe Price Associates, Inc.) |
0.53%2
|
48.46% | 13.59% | 11.89% | |
| U.S. Equity | JNL/T. Rowe Price Mid-Cap Growth Fund | ||||
| (T. Rowe Price Associates, Inc.; Sub-Sub-Adviser: T. Rowe Price Investment Management, Inc.) |
0.69%2
|
20.32% | 11.72% | 10.54% | |
| Fixed Income | JNL/T. Rowe Price Short-Term Bond Fund | ||||
| (T. Rowe Price Associates, Inc.) |
0.41%2
|
5.06% | 1.80% | 1.46% | |
| Fixed Income | JNL/T. Rowe Price U.S. High Yield Fund | ||||
| (T. Rowe Price Associates, Inc.; Sub-Sub-Adviser: T. Rowe Price Investment Management, Inc.) |
0.63%2
|
14.01% | 3.27% | N/A | |
| U.S. Equity | JNL/T. Rowe Price Value Fund | ||||
| (T. Rowe Price Associates, Inc.) |
0.57%2
|
12.27% | 12.61% | 9.24% | |
| Allocation | JNL/Vanguard Moderate ETF Allocation Fund | ||||
| (Mellon Investments Corporation) |
0.27%2
|
10.53% | 5.46% | N/A | |
| Allocation | JNL/Vanguard Moderate Growth ETF Allocation Fund | ||||
| (Mellon Investments Corporation) |
0.28%2
|
12.72% | 7.37% | N/A | |
| Allocation | JNL/Vanguard Growth ETF Allocation Fund | ||||
| (Mellon Investments Corporation) |
0.27%2
|
14.74% | 9.21% | N/A | |
| International/Global Equity | JNL/WCM Focused International Equity Fund | ||||
| (WCM Investment Management, LLC) | 0.83% | 16.85% | 12.03% | N/A | |
| Alternative | JNL/Westchester Capital Event Driven Fund | ||||
| (Westchester Capital Management, LLC) | 1.57% | 6.77% | 5.04% | N/A |
A-5
| Fund Type |
Fund and Manager*
(and Sub-Adviser, if applicable)
*The investment manager for each Fund is Jackson National Asset Management, LLC
|
Current Expenses |
Average Annual Total Returns
(as of 12/31/23)
|
||
| 1 year | 5 year | 10 year | |||
| Fixed Income | JNL/Western Asset Global Multi-Sector Bond Fund | ||||
| (Western Asset Management Company, LLC; Sub-Sub-Advisers: Western Asset Management Company Limited and Western Asset Management Company Pte. Ltd.) | 0.66% | 9.02% | -1.27% | -0.20% | |
| International/Global Equity | JNL/William Blair International Leaders Fund | ||||
| (William Blair Investment Management, LLC) | 0.67% | 13.26% | 5.87% | 3.17% | |
| Allocation | JNL/WMC Balanced Fund | ||||
| (Wellington Management Company LLP) | 0.41% | 13.42% | 9.06% | 7.41% | |
| U.S. Equity | JNL/WMC Equity Income Fund | ||||
| (Wellington Management Company LLP) | 0.58% | 7.01% | 11.66% | N/A | |
| Sector Equity | JNL/WMC Global Real Estate Fund | ||||
| (Wellington Management Company LLP) | 0.73% | 9.87% | 1.90% | 2.95% | |
| Fixed Income | JNL/WMC Government Money Market Fund | ||||
| (Wellington Management Company LLP) | 0.26% | 4.86% | 1.68% | 1.04% | |
| U.S. Equity | JNL/WMC Value Fund | ||||
| (Wellington Management Company LLP) | 0.48% | 9.56% | 11.64% | 8.29% | |
| Allocation | JNL Conservative Allocation Fund | ||||
| 0.86% | 9.61% | 3.86% | N/A | ||
| Allocation | JNL Moderate Allocation Fund | ||||
| 0.86% | 12.28% | 6.03% | N/A | ||
| Allocation | JNL Moderate Growth Allocation Fund | ||||
| 0.87% | 14.07% | 7.64% | N/A | ||
| Allocation | JNL Growth Allocation Fund | ||||
| 0.87% | 16.90% | 9.21% | N/A | ||
| Allocation | JNL Aggressive Growth Allocation Fund | ||||
| 0.88% | 18.84% | 10.28% | N/A | ||
| Fixed Income | JNL Bond Index Fund | ||||
| (Mellon Investments Corporation) |
0.09%2
|
5.49% | N/A | N/A | |
| International/Global Equity | JNL Emerging Markets Index Fund | ||||
| (Mellon Investments Corporation) |
0.16%2
|
9.87% | N/A | N/A | |
| International/Global Equity | JNL International Index Fund | ||||
| (Mellon Investments Corporation) |
0.10%2
|
17.83% | N/A | N/A | |
| U.S. Equity | JNL Mid Cap Index Fund | ||||
| (Mellon Investments Corporation) |
0.10%2
|
16.32% | N/A | N/A | |
| U.S. Equity | JNL Small Cap Index Fund | ||||
| (Mellon Investments Corporation) |
0.10%2
|
16.08% | N/A | N/A |
|
1
|
Capital Research and Management Company is the investment adviser of the master fund in which this feeder fund invests. Under the master-feeder fund structure, the feeder fund does not buy individual securities directly. Rather, the feeder fund invests all of its investment assets in a corresponding master fund, which invests directly in individual securities. |
|
2
|
The Fund's current expenses reflect temporary fee reductions. |
A-6
BACK COVER PAGE
This Summary Prospectus incorporates by reference the Contract's prospectus and Statement of Additional Information ("SAI"), both dated April 29, 2024, as amended or supplemented. The SAI may be obtained, free of charge, in the same manner as the prospectus.
Separate Account EDGAR contract identifier #C000226534
B-1