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abbssi2:S000017765Member rr:AfterTaxesOnDistributionsAndSalesMember abbssi2:C000049037Member 2012-01-01 2012-12-31 0001172221 abbssi2:S000017765Member abbssi2:SAndPFiveHundredStockIndexMember 2012-01-01 2012-12-31 0001172221 abbssi2:S000017765Member abbssi2:BarclaysCapitalUsAggregateBondIndexMember 2012-01-01 2012-12-31 0001172221 abbssi2:S000017765Member abbssi2:CompositeBenchmarkMember 2012-01-01 2012-12-31 pure iso4217:USD 2012-12-31 Other 2012-08-31 ALLIANCEBERNSTEIN BLENDED STYLE SERIES INC 0001172221 false 2013-01-04 2013-01-04 ALLIANCEBERNSTEIN 2015 RETIREMENT STRATEGY ALLIANCEBERNSTEIN 2025 RETIREMENT STRATEGY INVESTMENT OBJECTIVE The Strategy's investment objective is to seek the highest total return (total return includes capital appreciation and income) over time consistent with its asset mix. INVESTMENT OBJECTIVE FEES AND EXPENSES OF THE STRATEGY The Strategy’s investment objective is to seek the highest total return (total return includes capital appreciation and income) over time consistent with its asset mix. This table describes the fees and expenses that you may pay if you buy and hold shares of the Strategy. You may qualify for sales charge reductions if you and members of your family invest, or agree to invest in the future, at least $100,000 in AllianceBernstein Mutual Funds. More information about these and other discounts is available from your financial intermediary and in Investing in the Strategies--Sales Charge Reduction Programs for Class A Shares on page 72 of this Prospectus and in Purchase of Shares--Sales Charge Reduction Programs for Class A Shares on page 109 of the Strategy's SAI. FEES AND EXPENSES OF THE STRATEGY SHAREHOLDER FEES (fees paid directly from your investment) This table describes the fees and expenses that you may pay if you buy and hold shares of the Strategy. You may qualify for sales charge reductions if you and members of your family invest, or agree to invest in the future, at least $100,000 in AllianceBernstein Mutual Funds. More information about these and other discounts is available from your financial intermediary and in Investing in the Strategies--Sales Charge Reduction Programs for Class A Shares on page 72 of this Prospectus and in Purchase of Shares--Sales Charge Reduction Programs for Class A Shares on page 109 of the Strategy's SAI. ANNUAL STRATEGY OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) SHAREHOLDER FEES (fees paid directly from your investment) PORTFOLIO TURNOVER ANNUAL STRATEGY OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) The Strategy (or an Underlying Portfolio) pays transaction costs, such as commissions, when it buys or sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Strategy shares are held in a taxable account. These transaction costs, which are not reflected in the Annual Strategy Operating Expenses or in the Examples, affect the Strategy's performance. During the most recent fiscal year, the Strategy's portfolio turnover rate (which reflects only purchases and sales of the Underlying Portfolios) was 17% of the average value of its portfolio. EXAMPLES EXAMPLES The Examples are intended to help you compare the cost of investing in the Strategy with the cost of investing in other mutual funds. The Examples assume that you invest $10,000 in the Strategy for the time periods indicated and then redeem all of your shares at the end of those periods. The Examples also assume that your investment has a 5% return each year, that the Strategy's operating expenses stay the same and that the fee waiver is in effect only for the first year. Although your actual costs may be higher or lower, based on these assumptions your costs would be: PRINCIPAL STRATEGIES: The Strategy seeks the highest total return over time consistent with its asset mix. Total return includes capital growth and income. To achieve its investment objective, the Strategy invests in a combination of portfolios of The AllianceBernstein Pooling Portfolios representing a variety of asset classes and investment styles (the "Underlying Portfolios"). The Strategy is managed to the specific year of planned retirement included in its name (the "retirement date"). The Strategy's asset mixes will become more conservative each year until reaching the year approximately fifteen years after the retirement date (the "target year") at which time the asset allocation mix will become static. This reflects the objective of pursuing the maximum amount of capital growth, consistent with a reasonable amount of risk, during the investor's pre-retirement and early retirement years. After retirement the Strategy's investment mix anticipates that an investor may take withdrawals from his or her account to provide supplemental retirement income.<br/><br/>After the retirement date of the Strategy, its asset mix seeks to minimize the likelihood that an investor in the Strategy experiences a significant loss of capital at a more advanced age. The asset mix for the Strategy will continue to change after the Strategy's retirement date with an increasing exposure to investments in fixed-income securities and short-term bonds until fifteen years after the Strategy's retirement date. Thereafter, the target asset allocation for the Strategy will generally be fixed. The static allocation of the Strategy's asset mix will be 27.5% short-duration bonds, 37.5% other fixed-income securities, 12.5% Volatility Management Portfolio, 15.5% other equities and 7% Multi-Asset Real Return Portfolio.<br/><br/>The Underlying Portfolios will include a Portfolio, the Volatility Management Portfolio, that is designed to reduce the overall equity market volatility of the Strategy and the effects of adverse equity market conditions on its performance. The Volatility Management Portfolio will be a component of the Strategy's equity asset allocation. Under normal market conditions, this Underlying Portfolio will invest predominantly in equity securities. If the Adviser determines that the equity markets pose disproportionate risks, the Adviser will reduce (or eliminate) this Underlying Portfolio's equity investments and invest in fixed-income securities or other non-equity asset classes to reduce the risks of the Strategy's investments in equity securities.<br/><br/>The Adviser will allow the relative weightings of the Strategy's asset classes to vary in response to the markets, but ordinarily only by plus/minus 5%. Beyond those ranges, the Adviser will generally rebalance the portfolio toward the target asset allocation for the Strategy. However, there may be occasions when those ranges will expand to 10% of the Strategy's portfolio due to, among other things, appreciation of one of the asset classes.<br/><br/> The following chart illustrates how the asset mix of the Strategy will vary over time. In general, the asset mix of the Strategy will gradually shift from one comprised largely of Underlying Portfolios that emphasize investments in stocks to one that is comprised of a mixture of Underlying Portfolios that invest in bonds (including short-duration bonds) and stocks.<br/><br/> <div> <table style="width: 389pt; border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="518"><tr style="height: 15.75pt;"> <td style="background-color: transparent; width: 110pt; height: 15.75pt;" class="xl65" height="21" width="147"> </td> <td style="background-color: transparent; width: 59pt;" width="78"> </td> <td style="background-color: transparent; width: 48pt;" width="64"> </td> <td style="background-color: transparent; width: 172pt;" class="xl67" width="229" colspan="3">Years Before Retirement</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;" align="right">45</td> <td style="background-color: transparent;" align="right">40</td> <td style="background-color: transparent;" align="right">35</td> <td style="background-color: transparent;" align="right">30</td> <td style="background-color: transparent;" align="right">25</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Diversified Value</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">19.50%</td> <td style="background-color: transparent;" class="xl66" align="right">18.25%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Large Cap Growth</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">19.50%</td> <td style="background-color: transparent;" class="xl66" align="right">18.25%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Value</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Growth</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Value</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">17.00%</td> <td style="background-color: transparent;" class="xl66" align="right">16.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Growth</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">17.00%</td> <td style="background-color: transparent;" class="xl66" align="right">16.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Multi-Asset Real Return</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Volatility Management</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">10.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">High Yield</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Global Bonds</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Inflation-Protected</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">    Securities</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Short Duration Bonds</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl67" colspan="3">Years Before Retirement</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" align="right">20</td> <td style="background-color: transparent;" align="right">15</td> <td style="background-color: transparent;" align="right">10</td> <td style="background-color: transparent;" align="right">5</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Diversified Value</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">16.25%</td> <td style="background-color: transparent;" class="xl66" align="right">13.75%</td> <td style="background-color: transparent;" class="xl66" align="right">11.25%</td> <td style="background-color: transparent;" class="xl66" align="right">9.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Large Cap Growth</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">16.25%</td> <td style="background-color: transparent;" class="xl66" align="right">13.75%</td> <td style="background-color: transparent;" class="xl66" align="right">11.25%</td> <td style="background-color: transparent;" class="xl66" align="right">9.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Value</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">4.25%</td> <td style="background-color: transparent;" class="xl66" align="right">3.50%</td> <td style="background-color: transparent;" class="xl66" align="right">2.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Growth</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">4.25%</td> <td style="background-color: transparent;" class="xl66" align="right">3.50%</td> <td style="background-color: transparent;" class="xl66" align="right">2.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Value</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">14.00%</td> <td style="background-color: transparent;" class="xl66" align="right">12.00%</td> <td style="background-color: transparent;" class="xl66" align="right">9.75%</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Growth</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">14.00%</td> <td style="background-color: transparent;" class="xl66" align="right">12.00%</td> <td style="background-color: transparent;" class="xl66" align="right">9.75%</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Multi-Asset Real Return</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td> <td style="background-color: transparent;" class="xl66" align="right">10.00%</td> <td style="background-color: transparent;" class="xl66" align="right">10.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Volatility Management</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">12.50%</td> <td style="background-color: transparent;" class="xl66" align="right">17.50%</td> <td style="background-color: transparent;" class="xl66" align="right">20.00%</td> <td style="background-color: transparent;" class="xl66" align="right">20.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">High Yield</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Global Bonds</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">10.00%</td> <td style="background-color: transparent;" class="xl66" align="right">12.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Inflation-Protected</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">    Securities</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td> <td style="background-color: transparent;" class="xl66" align="right">9.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Short Duration Bonds</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;" class="xl67" colspan="2">Retirement Date</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl67" colspan="2">Years After Retirement</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;" align="right">0</td> <td style="background-color: transparent;" align="right">5</td> <td style="background-color: transparent;" align="right">10</td> <td style="background-color: transparent;" align="right">15</td> <td style="background-color: transparent;" align="right">20</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Diversified Value</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.45%</td> <td style="background-color: transparent;" class="xl66" align="right">5.25%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Large Cap Growth</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.45%</td> <td style="background-color: transparent;" class="xl66" align="right">5.25%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Value</td> <td style="background-color: transparent;" class="xl66" align="right">2.00%</td> <td style="background-color: transparent;" class="xl66" align="right">1.50%</td> <td style="background-color: transparent;" class="xl66" align="right">1.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.75%</td> <td style="background-color: transparent;" class="xl66" align="right">0.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Growth</td> <td style="background-color: transparent;" class="xl66" align="right">2.00%</td> <td style="background-color: transparent;" class="xl66" align="right">1.50%</td> <td style="background-color: transparent;" class="xl66" align="right">1.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.75%</td> <td style="background-color: transparent;" class="xl66" align="right">0.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Value</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td> <td style="background-color: transparent;" class="xl66" align="right">3.00%</td> <td style="background-color: transparent;" class="xl66" align="right">3.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Growth</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.30%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td> <td style="background-color: transparent;" class="xl66" align="right">3.00%</td> <td style="background-color: transparent;" class="xl66" align="right">3.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Multi-Asset Real Return</td> <td style="background-color: transparent;" class="xl66" align="right">10.00%</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Volatility Management</td> <td style="background-color: transparent;" class="xl66" align="right">20.00%</td> <td style="background-color: transparent;" class="xl66" align="right">20.00%</td> <td style="background-color: transparent;" class="xl66" align="right">17.50%</td> <td style="background-color: transparent;" class="xl66" align="right">12.50%</td> <td style="background-color: transparent;" class="xl66" align="right">12.50%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">High Yield</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">2.50%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Global Bonds</td> <td style="background-color: transparent;" class="xl66" align="right">14.00%</td> <td style="background-color: transparent;" class="xl66" align="right">16.00%</td> <td style="background-color: transparent;" class="xl66" align="right">19.50%</td> <td style="background-color: transparent;" class="xl66" align="right">22.50%</td> <td style="background-color: transparent;" class="xl66" align="right">22.50%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Inflation-Protected</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">    Securities</td> <td style="background-color: transparent;" class="xl66" align="right">14.00%</td> <td style="background-color: transparent;" class="xl66" align="right">15.00%</td> <td style="background-color: transparent;" class="xl66" align="right">15.00%</td> <td style="background-color: transparent;" class="xl66" align="right">15.00%</td> <td style="background-color: transparent;" class="xl66" align="right">15.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Short Duration Bonds</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">9.00%</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">27.50%</td> <td style="background-color: transparent;" class="xl66" align="right">27.50%</td></tr></table></div> PRINCIPAL RISKS The Examples are intended to help you compare the cost of investing in the Strategy with the cost of investing in other mutual funds. The Examples assume that you invest $10,000 in the Strategy for the time periods indicated and then redeem all of your shares at the end of those periods. The Examples also assume that your investment has a 5% return each year, that the Strategy&#8217s operating expenses stay the same and that the fee waiver is in effect only for the first year. Although your actual costs may be higher or lower, based on these assumptions your costs would be: For the share classes listed below, you would pay the following expenses if you did not redeem your shares at the end of the period: PORTFOLIO TURNOVER The Strategy (or an Underlying Portfolio) pays transaction costs, such as commissions, when it buys or sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Strategy shares are held in a taxable account. These transaction costs, which are not reflected in the Annual Strategy Operating Expenses or in the Examples, affect the Strategy’s performance. During the most recent fiscal year, the Strategy’s portfolio turnover rate (which reflects only purchases and sales of the Underlying Portfolios) was 19% of the average value of its portfolio. PRINCIPAL STRATEGIES: The Strategy seeks the highest total return over time consistent with its asset mix. Total return includes capital growth and income. To achieve its investment objective, the Strategy invests in a combination of portfolios of The AllianceBernstein Pooling Portfolios representing a variety of asset classes and investment styles (the "Underlying Portfolios"). The Strategy is managed to the specific year of planned retirement included in its name (the "retirement date"). The Strategy's asset mixes will become more conservative each year until reaching the year approximately fifteen years after the retirement date (the "target year") at which time the asset allocation mix will become static. This reflects the objective of pursuing the maximum amount of capital growth, consistent with a reasonable amount of risk, during the investor's pre-retirement and early retirement years. After retirement the Strategy's investment mix anticipates that an investor may take withdrawals from his or her account to provide supplemental retirement income.<br/><br/>After the retirement date of the Strategy, its asset mix seeks to minimize the likelihood that an investor in the Strategy experiences a significant loss of capital at a more advanced age. The asset mix for the Strategy will continue to change after the Strategy's retirement date with an increasing exposure to investments in fixed-income securities and short-term bonds until fifteen years after the Strategy's retirement date. Thereafter, the target asset allocation for the Strategy will generally be fixed. The static allocation of the Strategy's asset mix will be 27.5% short-duration bonds, 37.5% other fixed-income securities, 12.5% Volatility Management Portfolio, 15.5% other equities and 7% Multi-Asset Real Return Portfolio.<br/><br/>The Underlying Portfolios will include a Portfolio, the Volatility Management Portfolio, that is designed to reduce the overall effect of equity market volatility on the Strategy and the effects of adverse equity market conditions on its performance. The Volatility Management Portfolio will be a component of the Strategy's equity asset allocation. Under normal market conditions, this Underlying Portfolio will invest predominantly in equity securities. If the Adviser determines that the equity markets pose disproportionate risks, the Adviser will reduce (or eliminate) this Underlying Portfolio's equity investments and invest in fixed-income securities or other non-equity asset classes to reduce the risks of the Strategy's investments in equity securities.<br/><br/>The Adviser will allow the relative weightings of the Strategy's asset classes to vary in response to the markets, but ordinarily only by plus/minus 5%. Beyond those ranges, the Adviser will generally rebalance the portfolio toward the target asset allocation for the Strategy. However, there may be occasions when those ranges will expand to 10% of the Strategy's portfolio due to, among other things, appreciation of one of the asset classes.<br/><br/> The following chart illustrates how the asset mix of the Strategy will vary over time. In general, the asset mix of the Strategy will gradually shift from one comprised largely of Underlying Portfolios that emphasize investments in stocks to one that is comprised of a mixture of Underlying Portfolios that invest in bonds (including short-duration bonds) and stocks.<br/><br/> <div> <table style="width: 389pt; border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="518"><tr style="height: 15.75pt;"> <td style="background-color: transparent; width: 110pt; height: 15.75pt;" class="xl65" height="21" width="147"> </td> <td style="background-color: transparent; width: 59pt;" width="78"> </td> <td style="background-color: transparent; width: 48pt;" width="64"> </td> <td style="background-color: transparent; width: 172pt;" class="xl67" width="229" colspan="3">Years Before Retirement</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;" align="right">45</td> <td style="background-color: transparent;" align="right">40</td> <td style="background-color: transparent;" align="right">35</td> <td style="background-color: transparent;" align="right">30</td> <td style="background-color: transparent;" align="right">25</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Diversified Value</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">19.50%</td> <td style="background-color: transparent;" class="xl66" align="right">18.25%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Large Cap Growth</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">19.50%</td> <td style="background-color: transparent;" class="xl66" align="right">18.25%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Value</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Growth</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Value</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">17.00%</td> <td style="background-color: transparent;" class="xl66" align="right">16.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Growth</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">17.00%</td> <td style="background-color: transparent;" class="xl66" align="right">16.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Multi-Asset Real Return</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Volatility Management</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">10.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">High Yield</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Global Bonds</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Inflation-Protected</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">    Securities</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Short Duration Bonds</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl67" colspan="3">Years Before Retirement</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" align="right">20</td> <td style="background-color: transparent;" align="right">15</td> <td style="background-color: transparent;" align="right">10</td> <td style="background-color: transparent;" align="right">5</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Diversified Value</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">16.25%</td> <td style="background-color: transparent;" class="xl66" align="right">13.75%</td> <td style="background-color: transparent;" class="xl66" align="right">11.25%</td> <td style="background-color: transparent;" class="xl66" align="right">9.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Large Cap Growth</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">16.25%</td> <td style="background-color: transparent;" class="xl66" align="right">13.75%</td> <td style="background-color: transparent;" class="xl66" align="right">11.25%</td> <td style="background-color: transparent;" class="xl66" align="right">9.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Value</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">4.25%</td> <td style="background-color: transparent;" class="xl66" align="right">3.50%</td> <td style="background-color: transparent;" class="xl66" align="right">2.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Growth</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">4.25%</td> <td style="background-color: transparent;" class="xl66" align="right">3.50%</td> <td style="background-color: transparent;" class="xl66" align="right">2.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Value</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">14.00%</td> <td style="background-color: transparent;" class="xl66" align="right">12.00%</td> <td style="background-color: transparent;" class="xl66" align="right">9.75%</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Growth</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">14.00%</td> <td style="background-color: transparent;" class="xl66" align="right">12.00%</td> <td style="background-color: transparent;" class="xl66" align="right">9.75%</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Multi-Asset Real Return</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td> <td style="background-color: transparent;" class="xl66" align="right">10.00%</td> <td style="background-color: transparent;" class="xl66" align="right">10.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Volatility Management</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">12.50%</td> <td style="background-color: transparent;" class="xl66" align="right">17.50%</td> <td style="background-color: transparent;" class="xl66" align="right">20.00%</td> <td style="background-color: transparent;" class="xl66" align="right">20.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">High Yield</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Global Bonds</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">10.00%</td> <td style="background-color: transparent;" class="xl66" align="right">12.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Inflation-Protected</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">    Securities</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td> <td style="background-color: transparent;" class="xl66" align="right">9.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Short Duration Bonds</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;" class="xl67" colspan="2">Retirement Date</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl67" colspan="2">Years After Retirement</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;" align="right">0</td> <td style="background-color: transparent;" align="right">5</td> <td style="background-color: transparent;" align="right">10</td> <td style="background-color: transparent;" align="right">15</td> <td style="background-color: transparent;" align="right">20</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Diversified Value</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.45%</td> <td style="background-color: transparent;" class="xl66" align="right">5.25%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Large Cap Growth</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.45%</td> <td style="background-color: transparent;" class="xl66" align="right">5.25%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Value</td> <td style="background-color: transparent;" class="xl66" align="right">2.00%</td> <td style="background-color: transparent;" class="xl66" align="right">1.50%</td> <td style="background-color: transparent;" class="xl66" align="right">1.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.75%</td> <td style="background-color: transparent;" class="xl66" align="right">0.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Growth</td> <td style="background-color: transparent;" class="xl66" align="right">2.00%</td> <td style="background-color: transparent;" class="xl66" align="right">1.50%</td> <td style="background-color: transparent;" class="xl66" align="right">1.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.75%</td> <td style="background-color: transparent;" class="xl66" align="right">0.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Value</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td> <td style="background-color: transparent;" class="xl66" align="right">3.00%</td> <td style="background-color: transparent;" class="xl66" align="right">3.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Growth</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.30%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td> <td style="background-color: transparent;" class="xl66" align="right">3.00%</td> <td style="background-color: transparent;" class="xl66" align="right">3.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Multi-Asset Real Return</td> <td style="background-color: transparent;" class="xl66" align="right">10.00%</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Volatility Management</td> <td style="background-color: transparent;" class="xl66" align="right">20.00%</td> <td style="background-color: transparent;" class="xl66" align="right">20.00%</td> <td style="background-color: transparent;" class="xl66" align="right">17.50%</td> <td style="background-color: transparent;" class="xl66" align="right">12.50%</td> <td style="background-color: transparent;" class="xl66" align="right">12.50%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">High Yield</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">2.50%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Global Bonds</td> <td style="background-color: transparent;" class="xl66" align="right">14.00%</td> <td style="background-color: transparent;" class="xl66" align="right">16.00%</td> <td style="background-color: transparent;" class="xl66" align="right">19.50%</td> <td style="background-color: transparent;" class="xl66" align="right">22.50%</td> <td style="background-color: transparent;" class="xl66" align="right">22.50%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Inflation-Protected</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">    Securities</td> <td style="background-color: transparent;" class="xl66" align="right">14.00%</td> <td style="background-color: transparent;" class="xl66" align="right">15.00%</td> <td style="background-color: transparent;" class="xl66" align="right">15.00%</td> <td style="background-color: transparent;" class="xl66" align="right">15.00%</td> <td style="background-color: transparent;" class="xl66" align="right">15.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Short Duration Bonds</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">9.00%</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">27.50%</td> <td style="background-color: transparent;" class="xl66" align="right">27.50%</td></tr></table></div> PRINCIPAL RISKS The value of your investment in the Strategy will change with changes in the values of the Strategy’s investments in the Underlying Portfolios. There is no assurance that the Strategy will provide an investor with adequate income at or through retirement. The degree to which the following risks apply varies according to the Strategy’s asset allocation.<ul type="square"><li style="margin-left: -20px">MARKET RISK: The value of the Strategy’s investments will fluctuate as the stock or bond market fluctuates. The value of its investments may decline, sometimes rapidly and unpredictably, simply because of economic changes or other events that affect large portions of the market. It includes the risk that a particular style of investing, such as growth or value, may be underperforming the stock market generally.</li></ul><ul type="square"><li style="margin-left: -20px">INTEREST RATE RISK: Changes in interest rates will affect the value of the Strategy’s investments in Underlying Portfolios that invest in fixed-income securities. When interest rates rise, the value of investments in fixed-income securities tends to fall and this decrease in value may not be offset by higher income from new investments. Interest rate risk is generally greater for fixed-income securities with longer maturities or durations. Investments in fixed-income securities with lower credit ratings ("junk bonds") tend to have a higher probability that an issuer will default or fail to meet its payment obligations.</li></ul><ul type="square"><li style="margin-left: -20px">CREDIT RISK: An issuer or guarantor of a fixed-income security, or the counterparty to a derivatives or other contract, may be unable or unwilling to make timely payments of interest or principal, or to otherwise honor its obligations. The issuer or guarantor may default, causing a loss of the full principal amount of a security. The degree of risk for a particular security may be reflected in its credit rating. There is the possibility that the credit rating of a fixed-income security may be downgraded after purchase, which may adversely affect the value of the security. Investments in fixed-income securities with lower ratings tend to have a higher probability that an issuer will default or fail to meet its payment obligations.</li></ul><ul type="square"><li style="margin-left: -20px">ALLOCATION RISK: The allocation of investments among the Underlying Portfolios’ different investment styles, such as growth or value, equity or debt securities, or U.S. or non-U.S. securities, may have a more significant effect on the Strategy’s NAV when one of these investments is performing more poorly than the other.</li></ul><ul type="square"><li style="margin-left: -20px">INFLATION RISK: This is the risk that the value of assets or income from the Strategy’s investments in the Underlying Portfolios will be less in the future as inflation decreases the value of money. As inflation increases, the value of each Underlying Portfolio’s assets can decline as can the value of that Underlying Portfolio’s distributions.</li></ul><ul type="square"><li style="margin-left: -20px">FOREIGN (NON-U.S.) RISK: The Strategy’s investments in Underlying Portfolios that invest in securities of non-U.S. issuers may experience more rapid and extreme changes in value than investments in securities of U.S. issuers. These securities may fluctuate more widely in price and may be less liquid due to adverse market, economic, political, regulatory or other factors. This risk is greater when the Strategy has a higher asset allocation of Underlying Portfolios that invest in non-U.S. issuers.</li></ul><ul type="square"><li style="margin-left: -20px">EMERGING MARKET RISK: Investments in emerging market countries may involve more risk than investments in other foreign countries because the markets in emerging market countries are less developed and less liquid as well as subject to increased economic, political, regulatory and other uncertainties.</li></ul><ul type="square"><li style="margin-left: -20px">CURRENCY RISK: Fluctuations in currency exchange rates may negatively affect the value of the Strategy’s investments or reduce its returns.</li></ul><ul type="square"><li style="margin-left: -20px">CAPITALIZATION RISK: Investments in small- and mid-capitalization companies by Underlying Portfolios tend to be more volatile than investments in large-capitalization companies. Investments in small-capitalization companies may have additional risks because these companies often have limited product lines, markets, or financial resources.</li></ul><ul type="square"><li style="margin-left: -20px">FOCUSED PORTFOLIO RISK: The Underlying Portfolios that invest in a limited number of companies may have more risk because changes in the value of a single security may have a more significant effect, either negative or positive, on the Strategy’s NAV.</li></ul><ul type="square"><li style="margin-left: -20px">DERIVATIVES RISK: Investments in derivatives may be illiquid, difficult to price, and leveraged so that small changes may produce disproportionate losses, and may be subject to counterparty risk to a greater degree than more traditional investments.</li></ul><ul type="square"><li style="margin-left: -20px">LEVERAGE RISK: Borrowing money or other leverage may make an Underlying Portfolio’s investments more volatile because leverage tends to exaggerate the effect of any increase or decrease in the value of its investments. An Underlying Portfolio may create leverage through the use of certain portfolio management techniques such as reverse repurchase agreements or forward commitments, or by borrowing money.</li></ul><ul type="square"><li style="margin-left: -20px">MANAGEMENT RISK: The Strategy is subject to management risk because it is an actively managed investment fund. The Adviser will apply its investment techniques and risk analyses in making investment decisions for the Strategy, but there is no guarantee that its techniques will produce the intended results.</li></ul>As with all investments, you may lose money by investing in the Strategy. BAR CHART AND PERFORMANCE INFORMATION The bar chart and performance information provide an indication of the historical risk of an investment in the Strategy by showing:<ul type="square"><li style="margin-left: -20px">how the Strategy’s performance changed from year to year over the life of the Strategy; and </li></ul> <ul type="square"><li style="margin-left: -20px">how the Strategy’s average annual returns for one and five years and since inception compare to those of a broad-based securities market index.</li></ul>You may obtain updated performance information on the Strategy’s website at www.AllianceBernstein.com (click on "Individuals--U.S." then “Products & Performance”).<br/><br/>The Strategy’s past performance before and after taxes, of course, does not necessarily indicate how it will perform in the future. BAR CHART The annual returns in the bar chart are for the Strategy’s Class A shares and do not reflect sales loads. If sales loads were reflected, returns would be less than those shown. Through September 30, 2012, the year-to-date unannualized return for Class A shares was 8.97%. Calendar Year End (%)<br/><br/>During the period shown in the bar chart, the Strategy’s:<br/><br/>BEST QUARTER WAS UP 18.69%, 3RD QUARTER, 2009; AND WORST QUARTER WAS DOWN -21.93%, 4TH QUARTER, 2008. PERFORMANCE TABLE<br/>AVERAGE ANNUAL TOTAL RETURNS<br/>(For the periods ended December 31, 2011) December 31, 2013 0.19 You may qualify for sales charge reductions if you and members of your family invest, or agree to invest in the future, at least $100,000 in AllianceBernstein Mutual Funds. 100000 As with all investments, you may lose money by investing in the Strategy. The bar chart and performance information provide an indication of the historical risk of an investment in the Strategy by showing:<ul type="square"><li style="margin-left: -20px">how the Strategy’s performance changed from year to year over the life of the Strategy; and </li></ul> <ul type="square"><li style="margin-left: -20px">how the Strategy’s average annual returns for one and five years and since inception compare to those of a broad-based securities market index.</li></ul> www.AllianceBernstein.com The Strategy’s past performance before and after taxes, of course, does not necessarily indicate how it will perform in the future. The annual returns in the bar chart are for the Strategy’s Class A shares and do not reflect sales loads. The Composite Benchmark reflects no deductions for fees, expenses or taxes. Are estimates based on the highest historical individual federal marginal income tax rates, and do not reflect the impact of state and local taxes Are not relevant to investors who hold Strategy shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. Are shown for Class A shares only and will vary for Class B, Class C and Advisor Class shares because these Classes have different expense ratios; 0.0425 0 0 0 0 0 0 0 0 0 0 0 0 0 2005-09-01 2005-09-01 2005-09-01 2005-09-01 2005-09-01 2005-09-01 2005-09-01 2005-09-01 2005-09-01 2005-09-01 2005-09-01 2005-09-01 0.0115 0.0056 0.0079 0.0112 0.0112 0.0213 0.0164 0.0214 0.0188 0.0424 0.0559 0.0442 -0.0302 -0.0364 -0.0274 -0.0284 -0.0286 -0.0234 -0.0188 -0.0211 -0.0186 0.0134 0.0604 0.0057 -0.0931 -0.0958 -0.057 -0.0965 -0.07 -0.0511 -0.0554 -0.053 -0.0513 0.1613 0.0551 0.1236 December 31, 2013 0.17 You may qualify for sales charge reductions if you and members of your family invest, or agree to invest in the future, at least $100,000 in AllianceBernstein Mutual Funds. 100000 As with all investments, you may lose money by investing in the Strategy. The bar chart and performance information provide an indication of the historical risk of an investment in the Strategy by showing:<ul type="square"><li style="margin-left:-20px"> how the Strategy's performance changed from year to year over the life of the Strategy; and </li></ul><ul type="square"><li style="margin-left:-20px"> how the Strategy's average annual returns for one and five years and since inception compare to those of a broad-based securities market index.</li></ul> www.AllianceBernstein.com The Strategy's past performance before and after taxes, of course, does not necessarily indicate how it will perform in the future. The annual returns in the bar chart are for the Strategy's Class A shares and do not reflect sales loads. The Composite Benchmark reflects no deductions for fees, expenses or taxes. Are estimates based on the highest historical individual federal marginal income tax rates, and do not reflect the impact of state and local taxes Are not relevant to investors who hold Strategy shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. Are shown for Class A shares only and will vary for Class B, Class C and Advisor Class shares because these Classes have different expense ratios; year-to-date 2012-09-30 0.0813 BEST QUARTER 2009-06-30 0.1669 WORST QUARTER 2008-12-31 -0.194 The value of your investment in the Strategy will change with changes in the values of the Strategy's investments in the Underlying Portfolios. There is no assurance that the Strategy will provide an investor with adequate income at or through retirement. The degree to which the following risks apply varies according to the Strategy's asset allocation.<ul type="square"><li style="margin-left:-20px">MARKET RISK: The value of the Strategy's investments will fluctuate as the stock or bond market fluctuates. The value of its investments may decline, sometimes rapidly and unpredictably, simply because of economic changes or other events that affect large portions of the market. It includes the risk that a particular style of investing, such as growth or value, may be underperforming the stock market generally.</li></ul><ul type="square"><li style="margin-left:-20px">INTEREST RATE RISK: Changes in interest rates will affect the value of the Strategy's investments in Underlying Portfolios that invest in fixed-income securities. When interest rates rise, the value of investments in fixed-income securities tends to fall and this decrease in value may not be offset by higher income from new investments. Interest rate risk is generally greater for fixed-income securities with longer maturities or durations. Investments in fixed-income securities with lower credit ratings ("junk bonds") tend to have a higher probability that an issuer will default or fail to meet its payment obligations.</li></ul><ul type="square"><li style="margin-left:-20px">CREDIT RISK: An issuer or guarantor of a fixed-income security, or the counterparty to a derivatives or other contract, may be unable or unwilling to make timely payments of interest or principal, or to otherwise honor its obligations. The issuer or guarantor may default, causing a loss of the full principal amount of a security. The degree of risk for a particular security may be reflected in its credit rating. There is the possibility that the credit rating of a fixed-income security may be downgraded after purchase, which may adversely affect the value of the security. Investments in fixed-income securities with lower ratings tend to have a higher probability that an issuer will default or fail to meet its payment obligations.</li></ul><ul type="square"><li style="margin-left:-20px">ALLOCATION RISK: The allocation of investments among the Underlying Portfolios' different investment styles, such as growth or value, equity or debt securities, or U.S. or non-U.S. securities, may have a more significant effect on the Strategy's NAV when one of these investments is performing more poorly than the other.</li></ul><ul type="square"><li style="margin-left:-20px">INFLATION RISK: This is the risk that the value of assets or income from the Strategy's investments in the Underlying Portfolios will be less in the future as inflation decreases the value of money. As inflation increases, the value of each Underlying Portfolio's assets can decline as can the value of that Underlying Portfolio's distributions.</li></ul><ul type="square"><li style="margin-left:-20px">FOREIGN (NON-U.S.) RISK: The Strategy's investments in Underlying Portfolios that invest in securities of non-U.S. issuers may experience more rapid and extreme changes in value than investments in securities of U.S. issuers. These securities may fluctuate more widely in price and may be less liquid due to adverse market, economic, political, regulatory or other factors. This risk is greater when the Strategy has a higher asset allocation of Underlying Portfolios that invest in non-U.S. issuers.</li></ul><ul type="square"><li style="margin-left:-20px">EMERGING MARKET RISK: Investments in emerging market countries may involve more risk than investments in other foreign countries because the markets in emerging market countries are less developed and less liquid as well as subject to increased economic, political, regulatory and other uncertainties.</li></ul><ul type="square"><li style="margin-left:-20px">CURRENCY RISK: Fluctuations in currency exchange rates may negatively affect the value of the Strategy's investments or reduce its returns.</li></ul><ul type="square"><li style="margin-left:-20px">CAPITALIZATION RISK: Investments in small- and mid-capitalization companies by Underlying Portfolios tend to be more volatile than investments in large-capitalization companies. Investments in small-capitalization companies may have additional risks because these companies often have limited product lines, markets, or financial resources.</li></ul><ul type="square"><li style="margin-left:-20px">FOCUSED PORTFOLIO RISK: The Underlying Portfolios that invest in a limited number of companies may have more risk because changes in the value of a single security may have a more significant effect, either negative or positive, on the Strategy's NAV.</li></ul><ul type="square"><li style="margin-left:-20px">DERIVATIVES RISK: Investments in derivatives may be illiquid, difficult to price, and leveraged so that small changes may produce disproportionate losses, and may be subject to counterparty risk to a greater degree than more traditional investments. </li></ul><ul type="square"><li style="margin-left:-20px">LEVERAGE RISK: Borrowing money or other leverage may make an Underlying Portfolio's investments more volatile because leverage tends to exaggerate the effect of any increase or decrease in the value of its investments. An Underlying Portfolio may create leverage through the use of certain portfolio management techniques such as reverse repurchase agreements or forward commitments, or by borrowing money.</li></ul><ul type="square"><li style="margin-left:-20px">MANAGEMENT RISK: The Strategy is subject to management risk because it is an actively managed investment fund. The Adviser will apply its investment techniques and risk analyses in making investment decisions for the Strategy, but there is no guarantee that its techniques will produce the intended results.</li></ul>As with all investments, you may lose money by investing in the Strategy. BAR CHART AND PERFORMANCE INFORMATION The bar chart and performance information provide an indication of the historical risk of an investment in the Strategy by showing:<ul type="square"><li style="margin-left:-20px"> how the Strategy's performance changed from year to year over the life of the Strategy; and </li></ul><ul type="square"><li style="margin-left:-20px"> how the Strategy's average annual returns for one and five years and since inception compare to those of a broad-based securities market index.</li></ul>You may obtain updated performance information on the Strategy's website at www.AllianceBernstein.com (click on "Individuals--U.S." then "Products & Performance").<br/><br/>The Strategy's past performance before and after taxes, of course, does not necessarily indicate how it will perform in the future. BAR CHART The annual returns in the bar chart are for the Strategy's Class A shares and do not reflect sales loads. If sales loads were reflected, returns would be less than those shown. Through September 30, 2012, the year-to-date unannualized return for Class A shares was 8.13%. Calendar Year End (%)<br/><br/>During the period shown in the bar chart, the Strategy’s:<br/><br/>BEST QUARTER WAS UP 16.69%, 2ND QUARTER, 2009; AND WORST QUARTER WAS DOWN -19.40%, 4TH QUARTER, 2008. PERFORMANCE TABLE<br/>AVERAGE ANNUAL TOTAL RETURNS<br/>(For the periods ended December 31, 2011) 0.1707 0.0523 -0.4013 0.3281 0.1305 -0.0526 177 177 584 584 1016 1016 2026 2219 527 577 277 76 126 101 76 768 784 584 267 451 360 256 1029 1016 1016 474 798 639 452 1774 2026 2219 1071 1779 1436 1017 0.0055 0.0055 0.0055 0.0055 0.0055 0.0055 0.0055 0.006 0.003 0.006 0.01 0.006 0.01 0.006 0 0.006 0.005 0.006 0.0025 0.006 0 0.0016 0.001 0.0013 0.0009 0.0026 0.0019 0.003 0.001 0.01 0.01 0 0.005 0.0025 0 0.0103 0.0011 0.0107 0.0105 0.0015 0.0103 0.0015 0.0106 0.0012 0.0106 0.0025 0.011 0.0019 0.0007 0.0119 0.0117 0.0118 0.0012 0.0012 0.0112 0.0012 0.0012 0.0132 0.0012 0.0012 0.0125 0.0012 0.012 0.0023 0.0027 0.0027 0.0024 0.0037 0.0031 0.0019 0.0004 0.0004 0.0004 0.0004 0.0004 0.0004 0.0004 0.0004 0.0004 0.0004 0.0004 0.0004 0.0004 0.0004 0.0208 0.0276 0.0277 0.0171 0.0117 0.0241 0.0191 0.0179 0.0191 0.0088 0.0209 0.0151 0.012 0.0083 -0.0116 -0.0114 -0.0013 -0.0115 -0.0017 -0.0109 -0.0017 -0.0129 -0.0014 -0.0027 -0.0122 -0.0117 -0.0021 -0.0009 0.0104 0.0174 0.0174 0.0074 0.0124 0.0099 0.0092 0.0074 0.0162 0.0162 0.0062 0.0112 0.0087 0.0062 For the share classes listed below, you would pay the following expenses if you did not redeem your shares at the end of the period: ALLIANCEBERNSTEIN 2000 RETIREMENT STRATEGY INVESTMENT OBJECTIVE 0.0425 0 0 0 The Strategy's investment objective is to seek the highest total return (total return includes capital appreciation and income) over time consistent with its asset mix. 0 0 0 FEES AND EXPENSES OF THE STRATEGY This table describes the fees and expenses that you may pay if you buy and hold shares of the Strategy. You may qualify for sales charge reductions if you and members of your family invest, or agree to invest in the future, at least $100,000 in AllianceBernstein Mutual Funds. More information about these and other discounts is available from your financial intermediary and in Investing in the Strategies--Sales Charge Reduction Programs for Class A Shares on page 72 of this Prospectus and in Purchase of Shares--Sales Charge Reduction Programs for Class A Shares on page 109 of the Strategy's Statement of Additional Information ("SAI"). 0 0.04 0.01 0 0 0 0 SHAREHOLDER FEES (fees paid directly from your investment) ANNUAL STRATEGY OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) EXAMPLES The Examples are intended to help you compare the cost of investing in the Strategy with the cost of investing in other mutual funds. The Examples assume that you invest $10,000 in the Strategy for the time periods indicated and then redeem all of your shares at the end of those periods. The Examples also assume that your investment has a 5% return each year, that the Strategy's operating expenses stay the same and that the fee waiver is in effect only for the first year. Although your actual costs may be higher or lower, based on these assumptions your costs would be: 0 0 0 For the share classes listed below, you would pay the following expenses if you did not redeem your shares at the end of the period: 0 0 0 0 PORTFOLIO TURNOVER The Strategy (or an Underlying Portfolio) pays transaction costs, such as commissions, when it buys or sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Strategy shares are held in a taxable account. These transaction costs, which are not reflected in the Annual Strategy Operating Expenses or in the Examples, affect the Strategy's performance. During the most recent fiscal year, the Strategy's portfolio turnover rate (which reflects only purchases and sales of the Underlying Portfolios) was 43% of the average value of its portfolio. PRINCIPAL STRATEGIES: The Strategy seeks the highest total return over time consistent with its asset mix. Total return includes capital growth and income. To achieve its investment objective, the Strategy invests in a combination of portfolios of The AllianceBernstein Pooling Portfolios representing a variety of asset classes and investment styles (the "Underlying Portfolios"). The Strategy is managed to the specific year of planned retirement included in its name (the "retirement date"). The Strategy's asset mixes will become more conservative each year until reaching the year approximately fifteen years after the retirement date (the "target year") at which time the asset allocation mix will become static. This reflects the objective of pursuing the maximum amount of capital growth, consistent with a reasonable amount of risk, during the investor's pre-retirement and early retirement years. After retirement the Strategy's investment mix anticipates that an investor may take withdrawals from his or her account to provide supplemental retirement income.<br/><br/> After the retirement date of the Strategy, its asset mix seeks to minimize the likelihood that an investor in the Strategy experiences a significant loss of capital at a more advanced age. The asset mix for the Strategy will continue to change after the Strategy's retirement date with an increasing exposure to investments in fixed-income securities and short-term bonds until fifteen years after the Strategy's retirement date. Thereafter, the target asset allocation for the Strategy will generally be fixed. The static allocation of the Strategy's asset mix will be 27.5% short-duration bonds, 37.5% other fixed-income securities, 12.5% Volatility Management Portfolio, 15.5% other equities and 7% Multi-Asset Real Return Portfolio.<br/><br/> The Underlying Portfolios will include a Portfolio, the Volatility Management Portfolio, that is designed to reduce the overall effect of equity market volatility on the Strategy and the effects of adverse equity market conditions on its performance. The Volatility Management Portfolio will be a component of the Strategy's equity asset allocation. Under normal market conditions, this Underlying Portfolio will invest predominantly in equity securities. If the Adviser determines that the equity markets pose disproportionate risks, the Adviser will reduce (or eliminate) this Underlying Portfolio's equity investments and invest in fixed-income securities or other non-equity asset classes to reduce the risks of the Strategy's investments in equity securities.<br/><br/> The Adviser will allow the relative weightings of the Strategy's asset classes to vary in response to the markets, but ordinarily only by plus/minus 5%. Beyond those ranges, the Adviser will generally rebalance the portfolio toward the target asset allocation for the Strategy. However, there may be occasions when those ranges will expand to 10% of the Strategy's portfolio due to, among other things, appreciation of one of the asset classes.<br/><br/>The following chart illustrates how the asset mix of the Strategy will vary over time. In general, the asset mix of the Strategy will gradually shift from one comprised largely of Underlying Portfolios that emphasize investments in stocks to one that is comprised of a mixture of Underlying Portfolios that invest in bonds (including short-duration bonds) and stocks.<br/><br/> <div> <table style="width: 389pt; border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="518"><tr style="height: 15.75pt;"> <td style="background-color: transparent; width: 110pt; height: 15.75pt;" class="xl65" height="21" width="147"> </td> <td style="background-color: transparent; width: 59pt;" width="78"> </td> <td style="background-color: transparent; width: 48pt;" width="64"> </td> <td style="background-color: transparent; width: 172pt;" class="xl67" width="229" colspan="3">Years Before Retirement</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;" align="right">45</td> <td style="background-color: transparent;" align="right">40</td> <td style="background-color: transparent;" align="right">35</td> <td style="background-color: transparent;" align="right">30</td> <td style="background-color: transparent;" align="right">25</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Diversified Value</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">19.50%</td> <td style="background-color: transparent;" class="xl66" align="right">18.25%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Large Cap Growth</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">19.50%</td> <td style="background-color: transparent;" class="xl66" align="right">18.25%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Value</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Growth</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Value</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">17.00%</td> <td style="background-color: transparent;" class="xl66" align="right">16.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Growth</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">17.00%</td> <td style="background-color: transparent;" class="xl66" align="right">16.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Multi-Asset Real Return</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Volatility Management</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">10.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">High Yield</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Global Bonds</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Inflation-Protected</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">    Securities</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Short Duration Bonds</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl67" colspan="3">Years Before Retirement</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" align="right">20</td> <td style="background-color: transparent;" align="right">15</td> <td style="background-color: transparent;" align="right">10</td> <td style="background-color: transparent;" align="right">5</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Diversified Value</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">16.25%</td> <td style="background-color: transparent;" class="xl66" align="right">13.75%</td> <td style="background-color: transparent;" class="xl66" align="right">11.25%</td> <td style="background-color: transparent;" class="xl66" align="right">9.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Large Cap Growth</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">16.25%</td> <td style="background-color: transparent;" class="xl66" align="right">13.75%</td> <td style="background-color: transparent;" class="xl66" align="right">11.25%</td> <td style="background-color: transparent;" class="xl66" align="right">9.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Value</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">4.25%</td> <td style="background-color: transparent;" class="xl66" align="right">3.50%</td> <td style="background-color: transparent;" class="xl66" align="right">2.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Growth</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">4.25%</td> <td style="background-color: transparent;" class="xl66" align="right">3.50%</td> <td style="background-color: transparent;" class="xl66" align="right">2.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Value</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">14.00%</td> <td style="background-color: transparent;" class="xl66" align="right">12.00%</td> <td style="background-color: transparent;" class="xl66" align="right">9.75%</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Growth</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">14.00%</td> <td style="background-color: transparent;" class="xl66" align="right">12.00%</td> <td style="background-color: transparent;" class="xl66" align="right">9.75%</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Multi-Asset Real Return</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td> <td style="background-color: transparent;" class="xl66" align="right">10.00%</td> <td style="background-color: transparent;" class="xl66" align="right">10.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Volatility Management</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">12.50%</td> <td style="background-color: transparent;" class="xl66" align="right">17.50%</td> <td style="background-color: transparent;" class="xl66" align="right">20.00%</td> <td style="background-color: transparent;" class="xl66" align="right">20.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">High Yield</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Global Bonds</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">10.00%</td> <td style="background-color: transparent;" class="xl66" align="right">12.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Inflation-Protected</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">    Securities</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td> <td style="background-color: transparent;" class="xl66" align="right">9.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Short Duration Bonds</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;" class="xl67" colspan="2">Retirement Date</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl67" colspan="2">Years After Retirement</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;" align="right">0</td> <td style="background-color: transparent;" align="right">5</td> <td style="background-color: transparent;" align="right">10</td> <td style="background-color: transparent;" align="right">15</td> <td style="background-color: transparent;" align="right">20</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Diversified Value</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.45%</td> <td style="background-color: transparent;" class="xl66" align="right">5.25%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Large Cap Growth</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.45%</td> <td style="background-color: transparent;" class="xl66" align="right">5.25%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Value</td> <td style="background-color: transparent;" class="xl66" align="right">2.00%</td> <td style="background-color: transparent;" class="xl66" align="right">1.50%</td> <td style="background-color: transparent;" class="xl66" align="right">1.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.75%</td> <td style="background-color: transparent;" class="xl66" align="right">0.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Growth</td> <td style="background-color: transparent;" class="xl66" align="right">2.00%</td> <td style="background-color: transparent;" class="xl66" align="right">1.50%</td> <td style="background-color: transparent;" class="xl66" align="right">1.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.75%</td> <td style="background-color: transparent;" class="xl66" align="right">0.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Value</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td> <td style="background-color: transparent;" class="xl66" align="right">3.00%</td> <td style="background-color: transparent;" class="xl66" align="right">3.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Growth</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.30%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td> <td style="background-color: transparent;" class="xl66" align="right">3.00%</td> <td style="background-color: transparent;" class="xl66" align="right">3.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Multi-Asset Real Return</td> <td style="background-color: transparent;" class="xl66" align="right">10.00%</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Volatility Management</td> <td style="background-color: transparent;" class="xl66" align="right">20.00%</td> <td style="background-color: transparent;" class="xl66" align="right">20.00%</td> <td style="background-color: transparent;" class="xl66" align="right">17.50%</td> <td style="background-color: transparent;" class="xl66" align="right">12.50%</td> <td style="background-color: transparent;" class="xl66" align="right">12.50%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">High Yield</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">2.50%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Global Bonds</td> <td style="background-color: transparent;" class="xl66" align="right">14.00%</td> <td style="background-color: transparent;" class="xl66" align="right">16.00%</td> <td style="background-color: transparent;" class="xl66" align="right">19.50%</td> <td style="background-color: transparent;" class="xl66" align="right">22.50%</td> <td style="background-color: transparent;" class="xl66" align="right">22.50%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Inflation-Protected</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">    Securities</td> <td style="background-color: transparent;" class="xl66" align="right">14.00%</td> <td style="background-color: transparent;" class="xl66" align="right">15.00%</td> <td style="background-color: transparent;" class="xl66" align="right">15.00%</td> <td style="background-color: transparent;" class="xl66" align="right">15.00%</td> <td style="background-color: transparent;" class="xl66" align="right">15.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Short Duration Bonds</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">9.00%</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">27.50%</td> <td style="background-color: transparent;" class="xl66" align="right">27.50%</td></tr></table></div> PRINCIPAL RISKS The value of your investment in the Strategy will change with changes in the values of the Strategy's investments in the Underlying Portfolios. There is no assurance that the Strategy will provide an investor with adequate income at or through retirement. The degree to which the following risks apply varies according to the Strategy's asset allocation.<ul type="square"><li style="margin-left:-20px">MARKET RISK: The value of the Strategy's investments will fluctuate as the stock or bond market fluctuates. The value of its investments may decline, sometimes rapidly and unpredictably, simply because of economic changes or other events that affect large portions of the market. It includes the risk that a particular style of investing, such as growth or value, may be underperforming the stock market generally.</li></ul><ul type="square"><li style="margin-left:-20px">INTEREST RATE RISK: Changes in interest rates will affect the value of the Strategy's investments in Underlying Portfolios that invest in fixed-income securities. When interest rates rise, the value of investments in fixed-income securities tends to fall and this decrease in value may not be offset by higher income from new investments. Interest rate risk is generally greater for fixed-income securities with longer maturities or durations. Investments in fixed-income securities with lower credit ratings ("junk bonds") tend to have a higher probability that an issuer will default or fail to meet its payment obligations.</li></ul><ul type="square"><li style="margin-left:-20px">CREDIT RISK: An issuer or guarantor of a fixed-income security, or the counterparty to a derivatives or other contract, may be unable or unwilling to make timely payments of interest or principal, or to otherwise honor its obligations. The issuer or guarantor may default, causing a loss of the full principal amount of a security. The degree of risk for a particular security may be reflected in its credit rating. There is the possibility that the credit rating of a fixed-income security may be downgraded after purchase, which may adversely affect the value of the security. Investments in fixed-income securities with lower ratings tend to have a higher probability that an issuer will default or fail to meet its payment obligations.</li></ul><ul type="square"><li style="margin-left:-20px">ALLOCATION RISK: The allocation of investments among the Underlying Portfolios' different investment styles, such as growth or value, equity or debt securities, or U.S. or non-U.S. securities, may have a more significant effect on the Strategy's net asset value ("NAV") when one of these investments is performing more poorly than the other.</li></ul><ul type="square"><li style="margin-left:-20px">INFLATION RISK: This is the risk that the value of assets or income from the Strategy's investments in the Underlying Portfolios will be less in the future as inflation decreases the value of money. As inflation increases, the value of each Underlying Portfolio's assets can decline as can the value of that Underlying Portfolio's distributions.</li></ul><ul type="square"><li style="margin-left:-20px">FOREIGN (NON-U.S.) RISK: The Strategy's investments in Underlying Portfolios that invest in securities of non-U.S. issuers may experience more rapid and extreme changes in value than investments in securities of U.S. issuers. These securities may fluctuate more widely in price and may be less liquid due to adverse market, economic, political, regulatory or other factors. This risk is greater when the Strategy has a higher asset allocation of Underlying Portfolios that invest in non-U.S. issuers.</li></ul><ul type="square"><li style="margin-left:-20px">EMERGING MARKET RISK: Investments in emerging market countries may involve more risk than investments in other foreign countries because the markets in emerging market countries are less developed and less liquid as well as subject to increased economic, political, regulatory and other uncertainties.</li></ul><ul type="square"><li style="margin-left:-20px">CURRENCY RISK: Fluctuations in currency exchange rates may negatively affect the value of the Strategy's investments or reduce its returns.</li></ul><ul type="square"><li style="margin-left:-20px">CAPITALIZATION RISK: Investments in small-and mid-capitalization companies by Underlying Portfolios tend to be more volatile than investments in large-capitalization companies. Investments in small-capitalization companies may have additional risks because these companies often have limited product lines, markets, or financial resources.</li></ul><ul type="square"><li style="margin-left:-20px">FOCUSED PORTFOLIO RISK: The Underlying Portfolios that invest in a limited number of companies may have more risk because changes in the value of a single security may have a more significant effect, either negative or positive, on the Strategy's NAV.</li></ul><ul type="square"><li style="margin-left:-20px">DERIVATIVES RISK: Investments in derivatives may be illiquid, difficult to price, and leveraged so that small changes may produce disproportionate losses, and may be subject to counterparty risk to a greater degree than more traditional investments. </li></ul><ul type="square"><li style="margin-left:-20px">LEVERAGE RISK: Borrowing money or other leverage may make an Underlying Portfolio's investments more volatile because leverage tends to exaggerate the effect of any increase or decrease in the value of its investments. An Underlying Portfolio may create leverage through the use of certain portfolio management techniques such as reverse repurchase agreements or forward commitments, or by borrowing money.</li></ul><ul type="square"><li style="margin-left:-20px">MANAGEMENT RISK: The Strategy is subject to management risk because it is an actively managed investment fund. The Adviser will apply its investment techniques and risk analyses in making investment decisions for the Strategy, but there is no guarantee that its techniques will produce the intended results.</li></ul>As with all investments, you may lose money by investing in the Strategy. BAR CHART AND PERFORMANCE INFORMATION The bar chart and performance information provide an indication of the historical risk of an investment in the Strategy by showing:<ul type="square"><li style="margin-left:-20px"> how the Strategy's performance changed from year to year over the life of the Strategy; and </li></ul><ul type="square"><li style="margin-left:-20px"> how the Strategy's average annual returns for one and five years and since inception compare to those of a broad-based securities market index.</li></ul> You may obtain updated performance information on the Strategy's website at www.AllianceBernstein.com (click on "Individuals--U.S." then "Products & Performance").<br/><br/>The Strategy's past performance before and after taxes, of course, does not necessarily indicate how it will perform in the future. BAR CHART The annual returns in the bar chart are for the Strategy's Class A shares and do not reflect sales loads. If sales loads were reflected, returns would be less than those shown. Through September 30, 2012, the year-to-date unannualized return for Class A shares was 5.64%. Calendar Year End (%)<br/><br/>During the period shown in the bar chart, the Strategy's:<br/><br/>BEST QUARTER WAS UP 12.05%, 3RD QUARTER, 2009; AND WORST QUARTER WAS DOWN -13.63%, 4TH QUARTER, 2008. PERFORMANCE TABLE<br/>AVERAGE ANNUAL TOTAL RETURNS<br/>(For the periods ended December 31, 2011) 515 565 265 63 114 89 63 942 948 750 432 628 537 449 1358 1394 1362 826 1169 1011 860 2645 2842 3016 1928 2648 2324 2009 165 165 748 750 1358 1362 2842 3016 0.0425 0 0 0 0 0 0 0 0.04 0.01 0 0 0 0 0 0 0 0 0 0 0 December 31, 2013 0.1283 0.054 -0.2928 0.264 0.1108 You may qualify for sales charge reductions if you and members of your family invest, or agree to invest in the future, at least $100,000 in AllianceBernstein Mutual Funds. 100000 -0.0042 0.43 As with all investments, you may lose money by investing in the Strategy. The bar chart and performance information provide an indication of the historical risk of an investment in the Strategy by showing:<ul type="square"><li style="margin-left:-20px"> how the Strategy's performance changed from year to year over the life of the Strategy; and </li></ul><ul type="square"><li style="margin-left:-20px"> how the Strategy's average annual returns for one and five years and since inception compare to those of a broad-based securities market index.</li></ul> www.AllianceBernstein.com The Strategy's past performance before and after taxes, of course, does not necessarily indicate how it will perform in the future. The annual returns in the bar chart are for the Strategy's Class A shares and do not reflect sales loads. The Composite Benchmark reflects no deductions for fees, expenses or taxes. Are estimates based on the highest historical individual federal marginal income tax rates, and do not reflect the impact of state and local taxes Are not relevant to investors who hold Strategy shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. Are shown for Class A shares only and will vary for Class B, Class C and Advisor Class shares because these Classes have different expense ratios; year-to-date 2012-09-30 0.006 0.006 0.006 0.006 0.006 0.006 0.0564 0.006 BEST QUARTER 2009-09-30 0.1205 WORST QUARTER 0 0.0025 0.005 0 2008-12-31 0.01 0.003 0.01 -0.1363 0.0006 0.001 0.0007 0.0005 0.0025 ALLIANCEBERNSTEIN 2035 RETIREMENT STRATEGY 0.0019 0.0007 year-to-date 0.0013 0.0013 0.0013 0.0013 2012-09-30 0.0013 0.0013 0.0013 0.0644 INVESTMENT OBJECTIVE BEST QUARTER The Strategy's investment objective is to seek the highest total return (total return includes capital appreciation and income) over time consistent with its asset mix. 0.0019 0.0023 0.002 2009-09-30 0.0018 FEES AND EXPENSES OF THE STRATEGY 0.0038 0.0032 0.002 0.1386 WORST QUARTER This table describes the fees and expenses that you may pay if you buy and hold shares of the Strategy. You may qualify for sales charge reductions if you and members of your family invest, or agree to invest in the future, at least $100,000 in AllianceBernstein Mutual Funds. More information about these and other discounts is available from your financial intermediary and in Investing in the Strategies--Sales Charge Reduction Programs for Class A Shares on page 72 of this Prospectus and in Purchase of Shares--Sales Charge Reduction Programs for Class A Shares on page 109 of the Strategy's SAI. SHAREHOLDER FEES (fees paid directly from your investment) 2008-12-31 -0.1572 0.0004 0.0004 0.0004 0.0004 0.0004 0.0004 0.0004 0.0113 0.0187 0.0184 0.0082 0.0152 ANNUAL STRATEGY OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) 0.0121 0.0084 PORTFOLIO TURNOVER The Strategy (or an Underlying Portfolio) pays transaction costs, such as commissions, when it buys or sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Strategy shares are held in a taxable account. These transaction costs, which are not reflected in the Annual Strategy Operating Expenses or in the Examples, affect the Strategy's performance. During the most recent fiscal year, the Strategy's portfolio turnover rate (which reflects only purchases and sales of the Underlying Portfolios) was 24% of the average value of its portfolio. EXAMPLES -0.0015 The Examples are intended to help you compare the cost of investing in the Strategy with the cost of investing in other mutual funds. The Examples assume that you invest $10,000 in the Strategy for the time periods indicated and then redeem all of your shares at the end of those periods. The Examples also assume that your investment has a 5% return each year, that the Strategy's operating expenses stay the same and that the fee waiver is in effect only for the first year. Although your actual costs may be higher or lower, based on these assumptions your costs would be: -0.0019 -0.0016 -0.0014 -0.0034 -0.0028 -0.0016 For the share classes listed below, You would pay the following expenses if you did not redeem your shares at the end of the period: 0.0098 0.0168 0.0168 0.0068 0.0118 0.0093 0.0068 PRINCIPAL STRATEGIES: The Strategy seeks the highest total return over time consistent with its asset mix. Total return includes capital growth and income. To achieve its investment objective, the Strategy invests in a combination of portfolios of The AllianceBernstein Pooling Portfolios representing a variety of asset classes and investment styles (the "Underlying Portfolios"). The Strategy is managed to the specific year of planned retirement included in its name (the "retirement date"). The Strategy's asset mixes will become more conservative each year until reaching the year approximately fifteen years after the retirement date (the "target year") at which time the asset allocation mix will become static. This reflects the objective of pursuing the maximum amount of capital growth, consistent with a reasonable amount of risk, during the investor's pre-retirement and early retirement years. After retirement the Strategy's investment mix anticipates that an investor may take withdrawals from his or her account to provide supplemental retirement income.<br/><br/>After the retirement date of the Strategy, its asset mix seeks to minimize the likelihood that an investor in the Strategy experiences a significant loss of capital at a more advanced age. The asset mix for the Strategy will continue to change after the Strategy's retirement date with an increasing exposure to investments in fixed-income securities and short-term bonds until fifteen years after the Strategy's retirement date. Thereafter, the target asset allocation for the Strategy will generally be fixed. The static allocation of the Strategy's asset mix will be 27.5% short-duration bonds, 37.5% other fixed-income securities, 12.5% Volatility Management Portfolio, 15.5% other equities and 7% Multi-Asset Real Return Portfolio.<br/><br/>The Underlying Portfolios will include a Portfolio, the Volatility Management Portfolio, that is designed to reduce the overall effect of equity market volatility on the Strategy and the effects of adverse equity market conditions on its performance. The Volatility Management Portfolio will be a component of the Strategy's equity asset allocation. Under normal market conditions, this Underlying Portfolio will invest predominantly in equity securities. If the Adviser determines that the equity markets pose disproportionate risks, the Adviser will reduce (or eliminate) this Underlying Portfolio's equity investments and invest in fixed-income securities or other non-equity asset classes to reduce the risks of the Strategy's investments in equity securities.<br/><br/>The Adviser will allow the relative weightings of the Strategy's asset classes to vary in response to the markets, but ordinarily only by plus/minus 5%. Beyond those ranges, the Adviser will generally rebalance the portfolio toward the target asset allocation for the Strategy. However, there may be occasions when those ranges will expand to 10% of the Strategy's portfolio due to, among other things, appreciation of one of the asset classes.<br/><br/>The following chart illustrates how the asset mix of the Strategy will vary over time. In general, the asset mix of the Strategy will gradually shift from one comprised largely of Underlying Portfolios that emphasize investments in stocks to one that is comprised of a mixture of Underlying Portfolios that invest in bonds (including short-duration bonds) and stocks.<br/><br/><div> <table style="width: 389pt; border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="518"><tr style="height: 15.75pt;"> <td style="background-color: transparent; width: 110pt; height: 15.75pt;" class="xl65" height="21" width="147"> </td> <td style="background-color: transparent; width: 59pt;" width="78"> </td> <td style="background-color: transparent; width: 48pt;" width="64"> </td> <td style="background-color: transparent; width: 172pt;" class="xl67" width="229" colspan="3">Years Before Retirement</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;" align="right">45</td> <td style="background-color: transparent;" align="right">40</td> <td style="background-color: transparent;" align="right">35</td> <td style="background-color: transparent;" align="right">30</td> <td style="background-color: transparent;" align="right">25</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Diversified Value</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">19.50%</td> <td style="background-color: transparent;" class="xl66" align="right">18.25%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Large Cap Growth</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">19.50%</td> <td style="background-color: transparent;" class="xl66" align="right">18.25%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Value</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Growth</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Value</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">17.00%</td> <td style="background-color: transparent;" class="xl66" align="right">16.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Growth</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">17.00%</td> <td style="background-color: transparent;" class="xl66" align="right">16.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Multi-Asset Real Return</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Volatility Management</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">10.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">High Yield</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Global Bonds</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Inflation-Protected</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">    Securities</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Short Duration Bonds</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl67" colspan="3">Years Before Retirement</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" align="right">20</td> <td style="background-color: transparent;" align="right">15</td> <td style="background-color: transparent;" align="right">10</td> <td style="background-color: transparent;" align="right">5</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Diversified Value</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">16.25%</td> <td style="background-color: transparent;" class="xl66" align="right">13.75%</td> <td style="background-color: transparent;" class="xl66" align="right">11.25%</td> <td style="background-color: transparent;" class="xl66" align="right">9.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Large Cap Growth</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">16.25%</td> <td style="background-color: transparent;" class="xl66" align="right">13.75%</td> <td style="background-color: transparent;" class="xl66" align="right">11.25%</td> <td style="background-color: transparent;" class="xl66" align="right">9.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Value</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">4.25%</td> <td style="background-color: transparent;" class="xl66" align="right">3.50%</td> <td style="background-color: transparent;" class="xl66" align="right">2.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Growth</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">4.25%</td> <td style="background-color: transparent;" class="xl66" align="right">3.50%</td> <td style="background-color: transparent;" class="xl66" align="right">2.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Value</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">14.00%</td> <td style="background-color: transparent;" class="xl66" align="right">12.00%</td> <td style="background-color: transparent;" class="xl66" align="right">9.75%</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Growth</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">14.00%</td> <td style="background-color: transparent;" class="xl66" align="right">12.00%</td> <td style="background-color: transparent;" class="xl66" align="right">9.75%</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Multi-Asset Real Return</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td> <td style="background-color: transparent;" class="xl66" align="right">10.00%</td> <td style="background-color: transparent;" class="xl66" align="right">10.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Volatility Management</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">12.50%</td> <td style="background-color: transparent;" class="xl66" align="right">17.50%</td> <td style="background-color: transparent;" class="xl66" align="right">20.00%</td> <td style="background-color: transparent;" class="xl66" align="right">20.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">High Yield</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Global Bonds</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">10.00%</td> <td style="background-color: transparent;" class="xl66" align="right">12.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Inflation-Protected</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">    Securities</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td> <td style="background-color: transparent;" class="xl66" align="right">9.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Short Duration Bonds</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;" class="xl67" colspan="2">Retirement Date</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl67" colspan="2">Years After Retirement</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;" align="right">0</td> <td style="background-color: transparent;" align="right">5</td> <td style="background-color: transparent;" align="right">10</td> <td style="background-color: transparent;" align="right">15</td> <td style="background-color: transparent;" align="right">20</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Diversified Value</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.45%</td> <td style="background-color: transparent;" class="xl66" align="right">5.25%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Large Cap Growth</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.45%</td> <td style="background-color: transparent;" class="xl66" align="right">5.25%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Value</td> <td style="background-color: transparent;" class="xl66" align="right">2.00%</td> <td style="background-color: transparent;" class="xl66" align="right">1.50%</td> <td style="background-color: transparent;" class="xl66" align="right">1.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.75%</td> <td style="background-color: transparent;" class="xl66" align="right">0.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Growth</td> <td style="background-color: transparent;" class="xl66" align="right">2.00%</td> <td style="background-color: transparent;" class="xl66" align="right">1.50%</td> <td style="background-color: transparent;" class="xl66" align="right">1.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.75%</td> <td style="background-color: transparent;" class="xl66" align="right">0.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Value</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td> <td style="background-color: transparent;" class="xl66" align="right">3.00%</td> <td style="background-color: transparent;" class="xl66" align="right">3.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Growth</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.30%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td> <td style="background-color: transparent;" class="xl66" align="right">3.00%</td> <td style="background-color: transparent;" class="xl66" align="right">3.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Multi-Asset Real Return</td> <td style="background-color: transparent;" class="xl66" align="right">10.00%</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Volatility Management</td> <td style="background-color: transparent;" class="xl66" align="right">20.00%</td> <td style="background-color: transparent;" class="xl66" align="right">20.00%</td> <td style="background-color: transparent;" class="xl66" align="right">17.50%</td> <td style="background-color: transparent;" class="xl66" align="right">12.50%</td> <td style="background-color: transparent;" class="xl66" align="right">12.50%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">High Yield</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">2.50%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Global Bonds</td> <td style="background-color: transparent;" class="xl66" align="right">14.00%</td> <td style="background-color: transparent;" class="xl66" align="right">16.00%</td> <td style="background-color: transparent;" class="xl66" align="right">19.50%</td> <td style="background-color: transparent;" class="xl66" align="right">22.50%</td> <td style="background-color: transparent;" class="xl66" align="right">22.50%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Inflation-Protected</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">    Securities</td> <td style="background-color: transparent;" class="xl66" align="right">14.00%</td> <td style="background-color: transparent;" class="xl66" align="right">15.00%</td> <td style="background-color: transparent;" class="xl66" align="right">15.00%</td> <td style="background-color: transparent;" class="xl66" align="right">15.00%</td> <td style="background-color: transparent;" class="xl66" align="right">15.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Short Duration Bonds</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">9.00%</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">27.50%</td> <td style="background-color: transparent;" class="xl66" align="right">27.50%</td></tr></table></div> 521 571 271 69 120 95 69 (NOT CURRENTLY OFFERED TO NEW INVESTORS) 565 248 447 356 252 755 769 1007 993 985 441 797 638 450 1728 1981 2155 1001 1784 1441 1022 <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleShareholderFeesAllianceBernstein2025RetirementStrategy column period compact * ~</div> <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleAnnualFundOperatingExpensesAllianceBernstein2025RetirementStrategy column period compact * ~</div> 171 171 569 565 993 985 1981 2155 <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleExpenseExampleAllianceBernstein2025RetirementStrategy column period compact * ~</div> <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleExpenseExampleNoRedemptionAllianceBernstein2025RetirementStrategy column period compact * ~</div> 0.1528 0.0545 -0.3567 0.3068 0.1249 -0.0276 <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleAnnualTotalReturnsAllianceBernstein2025RetirementStrategyBarChart column period compact * ~</div> PRINCIPAL RISKS The value of your investment in the Strategy will change with changes in the values of the Strategy's investments in the Underlying Portfolios. There is no assurance that the Strategy will provide an investor with adequate income at or through retirement. The degree to which the following risks apply varies according to the Strategy's asset allocation.<ul type="square"><li style="margin-left:-20px">MARKET RISK: The value of the Strategy's investments will fluctuate as the stock or bond market fluctuates. The value of its investments may decline, sometimes rapidly and unpredictably, simply because of economic changes or other events that affect large portions of the market. It includes the risk that a particular style of investing, such as growth or value, may be underperforming the stock market generally.</li></ul><ul type="square"><li style="margin-left:-20px">INTEREST RATE RISK: Changes in interest rates will affect the value of the Strategy's investments in Underlying Portfolios that invest in fixed-income securities. When interest rates rise, the value of investments in fixed-income securities tends to fall and this decrease in value may not be offset by higher income from new investments. Interest rate risk is generally greater for fixed-income securities with longer maturities or durations. Investments in fixed-income securities with lower credit ratings ("junk bonds") tend to have a higher probability that an issuer will default or fail to meet its payment obligations.</li></ul><ul type="square"><li style="margin-left:-20px">CREDIT RISK: An issuer or guarantor of a fixed-income security, or the counterparty to a derivatives or other contract, may be unable or unwilling to make timely payments of interest or principal, or to otherwise honor its obligations. The issuer or guarantor may default, causing a loss of the full principal amount of a security. The degree of risk for a particular security may be reflected in its credit rating. There is the possibility that the credit rating of a fixed-income security may be downgraded after purchase, which may adversely affect the value of the security. Investments in fixed-income securities with lower ratings tend to have a higher probability that an issuer will default or fail to meet its payment obligations.</li></ul><ul type="square"><li style="margin-left:-20px">ALLOCATION RISK: The allocation of investments among the Underlying Portfolios' different investment styles, such as growth or value, equity or debt securities, or U.S. or non-U.S. securities, may have a more significant effect on the Strategy's NAV when one of these investments is performing more poorly than the other.</li></ul><ul type="square"><li style="margin-left:-20px">INFLATION RISK: This is the risk that the value of assets or income from the Strategy's investments in the Underlying Portfolios will be less in the future as inflation decreases the value of money. As inflation increases, the value of each Underlying Portfolio's assets can decline as can the value of that Underlying Portfolio's distributions.</li></ul><ul type="square"><li style="margin-left:-20px">FOREIGN (NON-U.S.) RISK: The Strategy's investments in Underlying Portfolios that invest in securities of non-U.S. issuers may experience more rapid and extreme changes in value than investments in securities of U.S. issuers. These securities may fluctuate more widely in price and may be less liquid due to adverse market, economic, political, regulatory or other factors. This risk is greater when the Strategy has a higher asset allocation of Underlying Portfolios that invest in non-U.S. issuers.</li></ul><ul type="square"><li style="margin-left:-20px">EMERGING MARKET RISK: Investments in emerging market countries may involve more risk than investments in other foreign countries because the markets in emerging market countries are less developed and less liquid as well as subject to increased economic, political, regulatory and other uncertainties. </li></ul><ul type="square"><li style="margin-left:-20px"> CURRENCY RISK: Fluctuations in currency exchange rates may negatively affect the value of the Strategy's investments or reduce its returns.</li></ul><ul type="square"><li style="margin-left:-20px">CAPITALIZATION RISK: Investments in small- and mid-capitalization companies by Underlying Portfolios tend to be more volatile than investments in large-capitalization companies. Investments in small-capitalization companies may have additional risks because these companies often have limited product lines, markets, or financial resources.</li></ul><ul type="square"><li style="margin-left:-20px">FOCUSED PORTFOLIO RISK: The Underlying Portfolios that invest in a limited number of companies may have more risk because changes in the value of a single security may have a more significant effect, either negative or positive, on the Strategy's NAV.</li></ul><ul type="square"><li style="margin-left:-20px">DERIVATIVES RISK: Investments in derivatives may be illiquid, difficult to price, and leveraged so that small changes may produce disproportionate losses, and may be subject to counterparty risk to a greater degree than more traditional investments.</li></ul><ul type="square"><li style="margin-left:-20px">LEVERAGE RISK: Borrowing money or other leverage may make an Underlying Portfolio's investments more volatile because leverage tends to exaggerate the effect of any increase or decrease in the value of its investments. An Underlying Portfolio may create leverage through the use of certain portfolio management techniques such as reverse repurchase agreements or forward commitments, or by borrowing money.</li></ul><ul type="square"><li style="margin-left:-20px">MANAGEMENT RISK: The Strategy is subject to management risk because it is an actively managed investment fund. The Adviser will apply its investment techniques and risk analyses in making investment decisions for the Strategy, but there is no guarantee that its techniques will produce the intended results.</li></ul>As with all investments, you may lose money by investing in the Strategy. -0.069 -0.0743 -0.0419 -0.0727 -0.0448 -0.0244 -0.0296 -0.0268 -0.0252 0.1613 0.0551 0.1103 <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleAverageAnnualTotalReturnsTransposedAllianceBernstein2025RetirementStrategy column period compact * ~</div> BAR CHART AND PERFORMANCE INFORMATION The bar chart and performance information provide an indication of the historical risk of an investment in the Strategy by showing:<ul type="square"><li style="margin-left:-20px">how the Strategy's performance changed from year to year over the life of the Strategy; and</li></ul><ul type="square"><li style="margin-left:-20px">how the Strategy's average annual returns for one and five years and since inception compare to those of a broad-based securities market index.</li></ul>You may obtain updated performance information on the Strategy's website at www.AllianceBernstein.com (click on "Individuals--U.S." then "Products & Performance").<br/><br/>The Strategy's past performance before and after taxes, of course, does not necessarily indicate how it will perform in the future. -0.0147 -0.0226 -0.0157 -0.013 (NOT CURRENTLY OFFERED TO NEW INVESTORS) -0.0131 BAR CHART -0.0029 -0.0081 -0.0056 -0.003 0.0134 0.0604 0.0146 The annual returns in the bar chart are for the Strategy's Class A shares and do not reflect sales loads. If sales loads were reflected, returns would be less than those shown. Through September 30, 2012, the year-to-date unannualized return for Class A shares was 5.34%. 0.0425 0 0 0.0176 0 0.0102 0.0119 0 Calendar Year End (%)<br/><br/>During the period shown in the bar chart, the Strategy's:<br/><br/> BEST QUARTER WAS UP 18.59%, 3RD QUARTER, 2009; AND WORST QUARTER WAS DOWN -22.48%, 4TH QUARTER, 2008. 0.0176 0 0.0175 0 0.0279 0.0225 0.0251 0.0278 0.0424 PERFORMANCE TABLE<br/>AVERAGE ANNUAL TOTAL RETURNS<br/>(For the periods ended December 31, 2011) 0.0559 0.0472 year-to-date 2012-09-30 0.0897 BEST QUARTER 2009-09-30 0.1869 0.24 WORST QUARTER December 31, 2013 0 2008-12-31 0.04 0.01 0 You may qualify for sales charge reductions if you and members of your family invest, or agree to invest in the future, at least $100,000 in AllianceBernstein Mutual Funds. 0 0 0 100000 -0.2193 The bar chart and performance information provide an indication of the historical risk of an investment in the Strategy by showing:<ul type="square"><li style="margin-left:-20px">how the Strategy's performance changed from year to year over the life of the Strategy; and<blockquote></li></ul><ul type="square"><li style="margin-left:-20px">how the Strategy's average annual returns for one and five years and since inception compare to those of a broad-based securities market index.</li></ul> www.AllianceBernstein.com 0 0 0 The Strategy's past performance before and after taxes, of course, does not necessarily indicate how it will perform in the future. 0 0 0 0 The Composite Benchmark reflects no deductions for fees, expenses or taxes. Are estimates based on the highest historical individual federal marginal income tax rates, and do not reflect the impact of state and local taxes Are not relevant to investors who hold Strategy shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. Are shown for Class A shares only and will vary for Class B, Class C and Advisor Class shares because these Classes have different expense ratios; The annual returns in the bar chart are for the Strategy's Class A shares and do not reflect sales loads. As with all investments, you may lose money by investing in the Strategy. <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleShareholderFeesAllianceBernstein2015RetirementStrategy column period compact * ~</div> year-to-date 2012-09-30 0.0534 BEST QUARTER 2009-09-30 0.1859 WORST QUARTER 2008-12-31 -0.2248 <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleAnnualFundOperatingExpensesAllianceBernstein2015RetirementStrategy column period compact * ~</div> 0.0055 0.0055 0.0055 0.0055 0.0055 0.0055 0.0055 0.003 0.01 0.01 0 0.005 0.0025 0 <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleExpenseExampleAllianceBernstein2015RetirementStrategy column period compact * ~</div> 0.0035 0.0034 0.0033 0.0078 0.0026 0.0018 0.0008 0.0108 0.0113 0.011 0.0107 0.011 0.0109 0.0113 0.0143 0.0147 <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleExpenseExampleNoRedemptionAllianceBernstein2015RetirementStrategy column period compact * ~</div> 0.0143 0.0185 0.0136 0.0127 0.0121 0.0003 0.0003 0.0003 0.0003 0.0003 0.0003 0.0003 <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleAnnualTotalReturnsAllianceBernstein2015RetirementStrategyBarChart column period compact * ~</div> 0.0231 0.0305 0.0301 0.0243 0.0244 0.021 0.0179 -0.0145 -0.0149 -0.0145 -0.0187 -0.0138 -0.0129 -0.0123 <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleAverageAnnualTotalReturnsTransposedAllianceBernstein2015RetirementStrategy column period compact * ~</div> 0.0086 0.0156 0.0156 0.0056 0.0106 0.0081 0.0056 0.0425 0 0 0 0 0 0 0 0.04 0 0 0 0.01 0 0 0 0 0 0 (NOT CURRENTLY OFFERED TO NEW INVESTORS) 2005-09-01 0 2005-09-01 2005-09-01 2005-09-01 2005-09-01 2005-09-01 2005-09-01 0 2005-09-01 2005-09-01 2005-09-01 2005-09-01 2005-09-01 <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleShareholderFeesAllianceBernstein2030RetirementStrategy column period compact * ~</div> ALLIANCEBERNSTEIN 2005 RETIREMENT STRATEGY INVESTMENT OBJECTIVE The Strategy's investment objective is to seek the highest total return (total return includes capital appreciation and income) over time consistent with its asset mix. FEES AND EXPENSES OF THE STRATEGY This table describes the fees and expenses that you may pay if you buy and hold shares of the Strategy. You may qualify for sales charge reductions if you and members of your family invest, or agree to invest in the future, at least $100,000 in AllianceBernstein Mutual Funds. More information about these and other discounts is available from your financial intermediary and in Investing in the Strategies--Sales Charge Reduction Programs for Class A Shares on page 72 of this Prospectus and in Purchase of Shares--Sales Charge Reduction Programs for Class A Shares on page 109 of the Strategy's SAI. SHAREHOLDER FEES (fees paid directly from your investment) <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleAnnualFundOperatingExpensesAllianceBernstein2030RetirementStrategy column period compact * ~</div> ANNUAL STRATEGY OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) PORTFOLIO TURNOVER The Strategy (or an Underlying Portfolio) pays transaction costs, such as commissions, when it buys or sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Strategy shares are held in a taxable account. These transaction costs, which are not reflected in the Annual Strategy Operating Expenses or in the Examples, affect the Strategy's performance. During the most recent fiscal year, the Strategy's portfolio turnover rate (which reflects only purchases and sales of the Underlying Portfolios) was 23% of the average value of its portfolio. EXAMPLES The Examples are intended to help you compare the cost of investing in the Strategy with the cost of investing in other mutual funds. The Examples assume that you invest $10,000 in the Strategy for the time periods indicated and then redeem all of your shares at the end of those periods. The Examples also assume that your investment has a 5% return each year, that the Strategy's operating expenses stay the same and that the fee waiver is in effect only for the first year. Although your actual costs may be higher or lower, based on these assumptions your costs would be: For the share classes listed below, you would pay the following expenses if you did not redeem your shares at the end of the period: <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleExpenseExampleAllianceBernstein2030RetirementStrategy column period compact * ~</div> PRINCIPAL STRATEGIES: The Strategy seeks the highest total return over time consistent with its asset mix. Total return includes capital growth and income. To achieve its investment objective, the Strategy invests in a combination of portfolios of The AllianceBernstein Pooling Portfolios representing a variety of asset classes and investment styles (the "Underlying Portfolios"). The Strategy is managed to the specific year of planned retirement included in its name (the "retirement date"). The Strategy's asset mixes will become more conservative each year until reaching the year approximately fifteen years after the retirement date (the "target year") at which time the asset allocation mix will become static. This reflects the objective of pursuing the maximum amount of capital growth, consistent with a reasonable amount of risk, during the investor's pre-retirement and early retirement years. After retirement the Strategy's investment mix anticipates that an investor may take withdrawals from his or her account to provide supplemental retirement income.<br /><br /> After the retirement date of the Strategy, its asset mix seeks to minimize the likelihood that an investor in the Strategy experiences a significant loss of capital at a more advanced age. The asset mix for the Strategy will continue to change after the Strategy's retirement date with an increasing exposure to investments in fixed-income securities and short-term bonds until fifteen years after the Strategy's retirement date. Thereafter, the target asset allocation for the Strategy will generally be fixed. The static allocation of the Strategy's asset mix will be 27.5% short-duration bonds, 37.5% other fixed-income securities, 12.5% Volatility Management Portfolio, 15.5% other equities and 7% Multi-Asset Real Return Portfolio. <br /><br />The Underlying Portfolios will include a Portfolio, the Volatility Management Portfolio, that is designed to reduce the overall effect of equity market volatility on the Strategy and the effects of adverse equity market conditions on its performance. The Volatility Management Portfolio will be a component of the Strategy's equity asset allocation. Under normal market conditions, this Underlying Portfolio will invest predominantly in equity securities. If the Adviser determines that the equity markets pose disproportionate risks, the Adviser will reduce (or eliminate) this Underlying Portfolio's equity investments and invest in fixed-income securities or other non-equity asset classes to reduce the risks of the Strategy's investments in equity securities.<br /><br /> The Adviser will allow the relative weightings of the Strategy's asset classes to vary in response to the markets, but ordinarily only by plus/minus 5%. Beyond those ranges, the Adviser will generally rebalance the portfolio toward the target asset allocation for the Strategy. However, there may be occasions when those ranges will expand to 10% of the Strategy's portfolio due to, among other things, appreciation of one of the asset classes.<br /><br /> The following chart illustrates how the asset mix of the Strategy will vary over time. In general, the asset mix of the Strategy will gradually shift from one comprised largely of Underlying Portfolios that emphasize investments in stocks to one that is comprised of a mixture of Underlying Portfolios that invest in bonds (including short-duration bonds) and stocks.<br /><br /> <div> <table style="width: 389pt; border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="518"><tr style="height: 15.75pt;"> <td style="background-color: transparent; width: 110pt; height: 15.75pt;" class="xl65" height="21" width="147"> </td> <td style="background-color: transparent; width: 59pt;" width="78"> </td> <td style="background-color: transparent; width: 48pt;" width="64"> </td> <td style="background-color: transparent; width: 172pt;" class="xl67" width="229" colspan="3"> Years Before Retirement</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;" align="right">45</td> <td style="background-color: transparent;" align="right">40</td> <td style="background-color: transparent;" align="right">35</td> <td style="background-color: transparent;" align="right">30</td> <td style="background-color: transparent;" align="right">25</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Diversified Value</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">19.50%</td> <td style="background-color: transparent;" class="xl66" align="right">18.25%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Large Cap Growth</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">19.50%</td> <td style="background-color: transparent;" class="xl66" align="right">18.25%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Value</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Growth</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Value</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">17.00%</td> <td style="background-color: transparent;" class="xl66" align="right">16.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Growth</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">17.00%</td> <td style="background-color: transparent;" class="xl66" align="right">16.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Multi-Asset Real Return</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Volatility Management</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">10.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">High Yield</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Global Bonds</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Inflation-Protected</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">    Securities</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Short Duration Bonds</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl67" colspan="3">Years Before Retirement</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" align="right">20</td> <td style="background-color: transparent;" align="right">15</td> <td style="background-color: transparent;" align="right">10</td> <td style="background-color: transparent;" align="right">5</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Diversified Value</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">16.25%</td> <td style="background-color: transparent;" class="xl66" align="right">13.75%</td> <td style="background-color: transparent;" class="xl66" align="right">11.25%</td> <td style="background-color: transparent;" class="xl66" align="right">9.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Large Cap Growth</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">16.25%</td> <td style="background-color: transparent;" class="xl66" align="right">13.75%</td> <td style="background-color: transparent;" class="xl66" align="right">11.25%</td> <td style="background-color: transparent;" class="xl66" align="right">9.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Value</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">4.25%</td> <td style="background-color: transparent;" class="xl66" align="right">3.50%</td> <td style="background-color: transparent;" class="xl66" align="right">2.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Growth</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">4.25%</td> <td style="background-color: transparent;" class="xl66" align="right">3.50%</td> <td style="background-color: transparent;" class="xl66" align="right">2.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Value</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">14.00%</td> <td style="background-color: transparent;" class="xl66" align="right">12.00%</td> <td style="background-color: transparent;" class="xl66" align="right">9.75%</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Growth</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">14.00%</td> <td style="background-color: transparent;" class="xl66" align="right">12.00%</td> <td style="background-color: transparent;" class="xl66" align="right">9.75%</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Multi-Asset Real Return</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td> <td style="background-color: transparent;" class="xl66" align="right">10.00%</td> <td style="background-color: transparent;" class="xl66" align="right">10.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Volatility Management</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">12.50%</td> <td style="background-color: transparent;" class="xl66" align="right">17.50%</td> <td style="background-color: transparent;" class="xl66" align="right">20.00%</td> <td style="background-color: transparent;" class="xl66" align="right">20.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">High Yield</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Global Bonds</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">10.00%</td> <td style="background-color: transparent;" class="xl66" align="right">12.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Inflation-Protected</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">    Securities</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td> <td style="background-color: transparent;" class="xl66" align="right">9.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Short Duration Bonds</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;" class="xl67" colspan="2">Retirement Date</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl67" colspan="2">Years After Retirement</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;" align="right">0</td> <td style="background-color: transparent;" align="right">5</td> <td style="background-color: transparent;" align="right">10</td> <td style="background-color: transparent;" align="right">15</td> <td style="background-color: transparent;" align="right">20</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Diversified Value</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.45%</td> <td style="background-color: transparent;" class="xl66" align="right">5.25%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Large Cap Growth</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.45%</td> <td style="background-color: transparent;" class="xl66" align="right">5.25%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Value</td> <td style="background-color: transparent;" class="xl66" align="right">2.00%</td> <td style="background-color: transparent;" class="xl66" align="right">1.50%</td> <td style="background-color: transparent;" class="xl66" align="right">1.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.75%</td> <td style="background-color: transparent;" class="xl66" align="right">0.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Growth</td> <td style="background-color: transparent;" class="xl66" align="right">2.00%</td> <td style="background-color: transparent;" class="xl66" align="right">1.50%</td> <td style="background-color: transparent;" class="xl66" align="right">1.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.75%</td> <td style="background-color: transparent;" class="xl66" align="right">0.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Value</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td> <td style="background-color: transparent;" class="xl66" align="right">3.00%</td> <td style="background-color: transparent;" class="xl66" align="right">3.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Growth</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.30%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td> <td style="background-color: transparent;" class="xl66" align="right">3.00%</td> <td style="background-color: transparent;" class="xl66" align="right">3.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Multi-Asset Real Return</td> <td style="background-color: transparent;" class="xl66" align="right">10.00%</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Volatility Management</td> <td style="background-color: transparent;" class="xl66" align="right">20.00%</td> <td style="background-color: transparent;" class="xl66" align="right">20.00%</td> <td style="background-color: transparent;" class="xl66" align="right">17.50%</td> <td style="background-color: transparent;" class="xl66" align="right">12.50%</td> <td style="background-color: transparent;" class="xl66" align="right">12.50%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">High Yield</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">2.50%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Global Bonds</td> <td style="background-color: transparent;" class="xl66" align="right">14.00%</td> <td style="background-color: transparent;" class="xl66" align="right">16.00%</td> <td style="background-color: transparent;" class="xl66" align="right">19.50%</td> <td style="background-color: transparent;" class="xl66" align="right">22.50%</td> <td style="background-color: transparent;" class="xl66" align="right">22.50%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Inflation-Protected</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">    Securities</td> <td style="background-color: transparent;" class="xl66" align="right">14.00%</td> <td style="background-color: transparent;" class="xl66" align="right">15.00%</td> <td style="background-color: transparent;" class="xl66" align="right">15.00%</td> <td style="background-color: transparent;" class="xl66" align="right">15.00%</td> <td style="background-color: transparent;" class="xl66" align="right">15.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Short Duration Bonds</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">9.00%</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">27.50%</td> <td style="background-color: transparent;" class="xl66" align="right">27.50%</td></tr></table></div> PRINCIPAL RISKS The value of your investment in the Strategy will change with changes in the values of the Strategy's investments in the Underlying Portfolios. There is no assurance that the Strategy will provide an investor with adequate income at or through retirement. The degree to which the following risks apply varies according to the Strategy's asset allocation. <ul type="square"><li style="margin-left:-20px"> MARKET RISK: The value of the Strategy's investments will fluctuate as the stock or bond market fluctuates. The value of its investments may decline, sometimes rapidly and unpredictably, simply because of economic changes or other events that affect large portions of the market. It includes the risk that a particular style of investing, such as growth or value, may be underperforming the stock market generally.</li></ul> <ul type="square"><li style="margin-left:-20px"> INTEREST RATE RISK: Changes in interest rates will affect the value of the Strategy's investments in Underlying Portfolios that invest in fixed-income securities. When interest rates rise, the value of investments in fixed-income securities tends to fall and this decrease in value may not be offset by higher income from new investments. Interest rate risk is generally greater for fixed-income securities with longer maturities or durations. Investments in fixed-income securities with lower credit ratings ("junk bonds") tend to have a higher probability that an issuer will default or fail to meet its payment obligations.</li></ul> <ul type="square"><li style="margin-left:-20px"> CREDIT RISK: An issuer or guarantor of a fixed-income security, or the counterparty to a derivatives or other contract, may be unable or unwilling to make timely payments of interest or principal, or to otherwise honor its obligations. The issuer or guarantor may default, causing a loss of the full principal amount of a security. The degree of risk for a particular security may be reflected in its credit rating. There is the possibility that the credit rating of a fixed-income security may be downgraded after purchase, which may adversely affect the value of the security. Investments in fixed-income securities with lower ratings tend to have a higher probability that an issuer will default or fail to meet its payment obligations.</li></ul> <ul type="square"><li style="margin-left:-20px"> ALLOCATION RISK: The allocation of investments among the Underlying Portfolios' different investment styles, such as growth or value, equity or debt securities, or U.S. or non-U.S. securities, may have a more significant effect on the Strategy's NAV when one of these investments is performing more poorly than the other.</li></ul> <ul type="square"><li style="margin-left:-20px"> INFLATION RISK: This is the risk that the value of assets or income from the Strategy's investments in the Underlying Portfolios will be less in the future as inflation decreases the value of money. As inflation increases, the value of each Underlying Portfolio's assets can decline as can the value of that Underlying Portfolio's distributions.</li></ul> <ul type="square"><li style="margin-left:-20px"> FOREIGN (NON-U.S.) RISK: The Strategy's investments in Underlying Portfolios that invest in securities of non-U.S. issuers may experience more rapid and extreme changes in value than investments in securities of U.S. issuers. These securities may fluctuate more widely in price and may be less liquid due to adverse market, economic, political, regulatory or other factors. This risk is greater when the Strategy has a higher asset allocation of Underlying Portfolios that invest in non-U.S. issuers.</li></ul> <ul type="square"><li style="margin-left:-20px"> EMERGING MARKET RISK: Investments in emerging market countries may involve more risk than investments in other foreign countries because the markets in emerging market countries are less developed and less liquid as well as subject to increased economic, political, regulatory and other uncertainties.</li></ul> <ul type="square"><li style="margin-left:-20px"> CURRENCY RISK: Fluctuations in currency exchange rates may negatively affect the value of the Strategy's investments or reduce its returns.</li></ul> <ul type="square"><li style="margin-left:-20px"> CAPITALIZATION RISK: Investments in small- and mid-capitalization companies by Underlying Portfolios tend to be more volatile than investments in large-capitalization companies. Investments in small-capitalization companies may have additional risks because these companies often have limited product lines, markets, or financial resources.</li></ul> <ul type="square"><li style="margin-left:-20px"> FOCUSED PORTFOLIO RISK: The Underlying Portfolios that invest in a limited number of companies may have more risk because changes in the value of a single security may have a more significant effect, either negative or positive, on the Strategy's NAV.</li></ul> <ul type="square"><li style="margin-left:-20px"> DERIVATIVES RISK: Investments in derivatives may be illiquid, difficult to price, and leveraged so that small changes may produce disproportionate losses, and may be subject to counterparty risk to a greater degree than more traditional investments.</li></ul> <ul type="square"><li style="margin-left:-20px"> LEVERAGE RISK: Borrowing money or other leverage may make an Underlying Portfolio's investments more volatile because leverage tends to exaggerate the effect of any increase or decrease in the value of its investments. An Underlying Portfolio may create leverage through the use of certain portfolio management techniques such as reverse repurchase agreements or forward commitments, or by borrowing money.</li></ul> <ul type="square"><li style="margin-left:-20px"> MANAGEMENT RISK: The Strategy is subject to management risk because it is an actively managed investment fund. The Adviser will apply its investment techniques and risk analyses in making investment decisions for the Strategy, but there is no guarantee that its techniques will produce the intended results. </li></ul> As with all investments, you may lose money by investing in the Strategy. BAR CHART AND PERFORMANCE INFORMATION The bar chart and performance information provide an indication of the historical risk of an investment in the Strategy by showing:<ul type="square"><li style="margin-left:-20px">how the Strategy's performance changed from year to year over the life of the Strategy; and </li></ul> <ul type="square"><li style="margin-left:-20px">how the Strategy's average annual returns for one and five years and since inception compare to those of a broad-based securities market index.</li></ul> You may obtain updated performance information on the Strategy's website at www.AllianceBernstein.com (click on "Individuals--U.S." then "Products & Performance").<br /><br /> The Strategy's past performance before and after taxes, of course, does not necessarily indicate how it will perform in the future. BAR CHART 509 559 259 57 The annual returns in the bar chart are for the Strategy's Class A shares and do not reflect sales loads. If sales loads were reflected, returns would be less than those shown. Through September 30, 2012, the year-to-date unannualized return for Class A shares was 6.44%. 108 83 57 <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleExpenseExampleNoRedemptionAllianceBernstein2030RetirementStrategy column period compact * ~</div> 982 1002 794 Calendar Year End (%)<br /><br />During the period shown in the bar chart, the Strategy's:<br/><br/> BEST QUARTER WAS UP 13.86%, 3RD QUARTER, 2009; AND WORST QUARTER WAS DOWN -15.72%, 4TH QUARTER, 2008. 578 628 533 443 PERFORMANCE TABLE<br />AVERAGE ANNUAL TOTAL RETURNS<br />(For the periods ended December 31, 2011) 0.23 1481 1471 1455 1126 1176 1010 854 December 31, 2013 You may qualify for sales charge reductions if you and members of your family invest, or agree to invest in the future, at least $100,000 in AllianceBernstein Mutual Funds. 100000 2851 3085 3225 2623 2671 2329 2004 The bar chart and performance information provide an indication of the historical risk of an investment in the Strategy by showing:<ul type="square"><li style="margin-left:-20px">how the Strategy's performance changed from year to year over the life of the Strategy; and </li></ul> <ul type="square"><li style="margin-left:-20px">how the Strategy's average annual returns for one and five years and since inception compare to those of a broad-based securities market index.</li></ul> As with all investments, you may lose money by investing in the Strategy. www.AllianceBernstein.com The Strategy's past performance before and after taxes, of course, does not necessarily indicate how it will perform in the future. The annual returns in the bar chart are for the Strategy's Class A shares and do not reflect sales loads. The Composite Benchmark reflects no deductions for fees, expenses or taxes. Are estimates based on the highest historical individual federal marginal income tax rates, and do not reflect the impact of state and local taxes Are not relevant to investors who hold Strategy shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. Are shown for Class A shares only and will vary for Class B, Class C and Advisor Class shares because these Classes have different expense ratios; 0.0065 0.0065 0.0065 0.0065 0.0065 0.0065 0.0065 0.003 0.01 0.01 0 0 0.0025 0.005 The Strategy's investment objective is to seek the highest total return (total return includes capital appreciation and income) over time consistent with its asset mix. This table describes the fees and expenses that you may pay if you buy and hold shares of the Strategy. You may qualify for sales charge reductions if you and members of your family invest, or agree to invest in the future, at least $100,000 in AllianceBernstein Mutual Funds. More information about these and other discounts is available from your financial intermediary and in Investing in the Strategies--Sales Charge Reduction Programs for Class A Shares on page 72 of this Prospectus and in Purchase of Shares--Sales Charge Reduction Programs for Class A Shares on page 109 of the Strategy's SAI. 0.0024 0.0028 0.0029 0.0024 0.0025 0.0018 0.0007 0.0018 0.0019 0.0019 0.0019 0.0019 0.0018 0.0019 0.0026 0.0036 0.0044 0.0043 0.0048 0.0047 0.0042 159 159 802 794 0.0004 0.0004 0.0004 0.0004 0.0004 0.0004 0.0004 1471 1455 3085 3225 0.0095 0.013 0.0163 0.0112 0.0217 0.0216 0.0141 <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleAnnualTotalReturnsAllianceBernstein2030RetirementStrategyBarChart column period compact * ~</div> -0.0035 -0.004 -0.0041 -0.0036 -0.0037 -0.0019 -0.0029 0.0085 0.0076 0.0101 0.0126 0.0076 0.0176 0.0176 0.0106 <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleAverageAnnualTotalReturnsTransposedAllianceBernstein2030RetirementStrategy column period compact * ~</div> 0.1215 0.0579 -0.255 0.2284 0.0999 -0.034 -0.041 -0.0208 -0.0084 0.0124 -0.0371 0.0075 0.0096 0.0123 0.1613 0.0551 0.0734 0.0056 -0.0034 0.0003 0.0073 0.0072 0.0172 0.0122 0.015 0.0174 0.0134 0.0604 0.024 0.0278 0.0194 0.0196 0.0275 0.0275 0.0377 0.0327 0.0353 0.038 0.0424 0.0559 0.0475 2005-09-01 2005-09-01 2005-09-01 2005-09-01 2005-09-01 2005-09-01 2005-09-01 2005-09-01 2005-09-01 2005-09-01 2005-09-01 2005-09-01 AllianceBernstein 2030 Retirement Strategy INVESTMENT OBJECTIVE The Strategy’s investment objective is to seek the highest total return (total return includes capital appreciation and income) over time consistent with its asset mix. FEES AND EXPENSES OF THE STRATEGY This table describes the fees and expenses that you may pay if you buy and hold shares of the Strategy. You may qualify for sales charge reductions if you and members of your family invest, or agree to invest in the future, at least $100,000 in AllianceBernstein Mutual Funds. More information about these and other discounts is available from your financial intermediary and in Investing in the Strategies--Sales Charge Reduction Programs for Class A Shares on page 72 of this Prospectus and in Purchase of Shares--Sales Charge Reduction Programs for Class A Shares on page 109 of the Strategy's SAI. SHAREHOLDER FEES (fees paid directly from your investment) ANNUAL STRATEGY OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) EXAMPLES The Examples are intended to help you compare the cost of investing in the Strategy with the cost of investing in other mutual funds. The Examples assume that you invest $10,000 in the Strategy for the time periods indicated and then redeem all of your shares at the end of those periods. The Examples also assume that your investment has a 5% return each year, that the Strategy’s operating expenses stay the same and that the fee waiver is in effect only for the first year. Although your actual costs may be higher or lower, based on these assumptions your costs would be: For the share classes listed below, you would pay the following expenses if you did not redeem your shares at the end of the period: PORTFOLIO TURNOVER The Strategy (or an Underlying Portfolio) pays transaction costs, such as commissions, when it buys or sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Strategy shares are held in a taxable account. These transaction costs, which are not reflected in the Annual Strategy Operating Expenses or in the Examples, affect the Strategy's performance. During the most recent fiscal year, the Strategy’s portfolio turnover rate (which reflects only purchases and sales of the Underlying Portfolios) was 22% of the average value of its portfolio. PRINCIPAL STRATEGIES: The Strategy seeks the highest total return over time consistent with its asset mix. Total return includes capital growth and income. To achieve its investment objective, the Strategy invests in a combination of portfolios of The AllianceBernstein Pooling Portfolios representing a variety of asset classes and investment styles (the “Underlying Portfolios”). The Strategy is managed to the specific year of planned retirement included in its name (the “retirement date”). The Strategy’s asset mixes will become more conservative each year until reaching the year approximately fifteen years after the retirement date (the “target year”) at which time the asset allocation mix will become static. This reflects the objective of pursuing the maximum amount of capital growth, consistent with a reasonable amount of risk, during the investor’s pre-retirement and early retirement years. After retirement the Strategy’s investment mix anticipates that an investor may take withdrawals from his or her account to provide supplemental retirement income.<br/><br/>After the retirement date of the Strategy, its asset mix seeks to minimize the likelihood that an investor in the Strategy experiences a significant loss of capital at a more advanced age. The asset mix for the Strategy will continue to change after the Strategy’s retirement date with an increasing exposure to investments in fixed-income securities and short-term bonds until fifteen years after the Strategy’s retirement date. Thereafter, the target asset allocation for the Strategy will generally be fixed. The static allocation of the Strategy’s asset mix will be 27.5% short-duration bonds, 37.5% other fixed-income securities, 12.5% Volatility Management Portfolio, 15.5% other equities and 7% Multi-Asset Real Return Portfolio.<br/><br/>The Underlying Portfolios will include a Portfolio, the Volatility Management Portfolio, that is designed to reduce the overall effect of equity market volatility on the Strategy and the effects of adverse equity market conditions on its performance. The Volatility Management Portfolio will be a component of the Strategy’s equity asset allocation. Under normal market conditions, this Underlying Portfolio will invest predominantly in equity securities. If the Adviser determines that the equity markets pose disproportionate risks, the Adviser will reduce (or eliminate) this Underlying Portfolio’s equity investments and invest in fixed-income securities or other non-equity asset classes to reduce the risks of the Strategy’s investments in equity securities.<br/><br/>The Adviser will allow the relative weightings of the Strategy’s asset classes to vary in response to the markets, but ordinarily only by plus/minus 5%. Beyond those ranges, the Adviser will generally rebalance the portfolio toward the target asset allocation for the Strategy. However, there may be occasions when those ranges will expand to 10% of the Strategy’s portfolio due to, among other things, appreciation of one of the asset classes.<br/><br/>The following chart illustrates how the asset mix of the Strategy will vary over time. In general, the asset mix of the Strategy will gradually shift from one comprised largely of Underlying Portfolios that emphasize investments in stocks to one that is comprised of a mixture of Underlying Portfolios that invest in bonds (including short-duration bonds) and stocks.<br/><br/> <div> <table style="width: 389pt; border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="518"><tr style="height: 15.75pt;"> <td style="background-color: transparent; width: 110pt; height: 15.75pt;" class="xl65" height="21" width="147"> </td> <td style="background-color: transparent; width: 59pt;" width="78"> </td> <td style="background-color: transparent; width: 48pt;" width="64"> </td> <td style="background-color: transparent; width: 172pt;" class="xl67" width="229" colspan="3">Years Before Retirement</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;" align="right">45</td> <td style="background-color: transparent;" align="right">40</td> <td style="background-color: transparent;" align="right">35</td> <td style="background-color: transparent;" align="right">30</td> <td style="background-color: transparent;" align="right">25</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Diversified Value</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">19.50%</td> <td style="background-color: transparent;" class="xl66" align="right">18.25%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Large Cap Growth</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">19.50%</td> <td style="background-color: transparent;" class="xl66" align="right">18.25%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Value</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Growth</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Value</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">17.00%</td> <td style="background-color: transparent;" class="xl66" align="right">16.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Growth</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">17.00%</td> <td style="background-color: transparent;" class="xl66" align="right">16.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Multi-Asset Real Return</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Volatility Management</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">10.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">High Yield</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Global Bonds</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Inflation-Protected</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">    Securities</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Short Duration Bonds</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl67" colspan="3">Years Before Retirement</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" align="right">20</td> <td style="background-color: transparent;" align="right">15</td> <td style="background-color: transparent;" align="right">10</td> <td style="background-color: transparent;" align="right">5</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Diversified Value</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">16.25%</td> <td style="background-color: transparent;" class="xl66" align="right">13.75%</td> <td style="background-color: transparent;" class="xl66" align="right">11.25%</td> <td style="background-color: transparent;" class="xl66" align="right">9.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Large Cap Growth</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">16.25%</td> <td style="background-color: transparent;" class="xl66" align="right">13.75%</td> <td style="background-color: transparent;" class="xl66" align="right">11.25%</td> <td style="background-color: transparent;" class="xl66" align="right">9.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Value</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">4.25%</td> <td style="background-color: transparent;" class="xl66" align="right">3.50%</td> <td style="background-color: transparent;" class="xl66" align="right">2.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Growth</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">4.25%</td> <td style="background-color: transparent;" class="xl66" align="right">3.50%</td> <td style="background-color: transparent;" class="xl66" align="right">2.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Value</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">14.00%</td> <td style="background-color: transparent;" class="xl66" align="right">12.00%</td> <td style="background-color: transparent;" class="xl66" align="right">9.75%</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Growth</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">14.00%</td> <td style="background-color: transparent;" class="xl66" align="right">12.00%</td> <td style="background-color: transparent;" class="xl66" align="right">9.75%</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Multi-Asset Real Return</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td> <td style="background-color: transparent;" class="xl66" align="right">10.00%</td> <td style="background-color: transparent;" class="xl66" align="right">10.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Volatility Management</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">12.50%</td> <td style="background-color: transparent;" class="xl66" align="right">17.50%</td> <td style="background-color: transparent;" class="xl66" align="right">20.00%</td> <td style="background-color: transparent;" class="xl66" align="right">20.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">High Yield</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Global Bonds</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">10.00%</td> <td style="background-color: transparent;" class="xl66" align="right">12.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Inflation-Protected</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">    Securities</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td> <td style="background-color: transparent;" class="xl66" align="right">9.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Short Duration Bonds</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;" class="xl67" colspan="2">Retirement Date</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl67" colspan="2">Years After Retirement</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;" align="right">0</td> <td style="background-color: transparent;" align="right">5</td> <td style="background-color: transparent;" align="right">10</td> <td style="background-color: transparent;" align="right">15</td> <td style="background-color: transparent;" align="right">20</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Diversified Value</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.45%</td> <td style="background-color: transparent;" class="xl66" align="right">5.25%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Large Cap Growth</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.45%</td> <td style="background-color: transparent;" class="xl66" align="right">5.25%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Value</td> <td style="background-color: transparent;" class="xl66" align="right">2.00%</td> <td style="background-color: transparent;" class="xl66" align="right">1.50%</td> <td style="background-color: transparent;" class="xl66" align="right">1.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.75%</td> <td style="background-color: transparent;" class="xl66" align="right">0.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Growth</td> <td style="background-color: transparent;" class="xl66" align="right">2.00%</td> <td style="background-color: transparent;" class="xl66" align="right">1.50%</td> <td style="background-color: transparent;" class="xl66" align="right">1.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.75%</td> <td style="background-color: transparent;" class="xl66" align="right">0.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Value</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td> <td style="background-color: transparent;" class="xl66" align="right">3.00%</td> <td style="background-color: transparent;" class="xl66" align="right">3.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Growth</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.30%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td> <td style="background-color: transparent;" class="xl66" align="right">3.00%</td> <td style="background-color: transparent;" class="xl66" align="right">3.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Multi-Asset Real Return</td> <td style="background-color: transparent;" class="xl66" align="right">10.00%</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Volatility Management</td> <td style="background-color: transparent;" class="xl66" align="right">20.00%</td> <td style="background-color: transparent;" class="xl66" align="right">20.00%</td> <td style="background-color: transparent;" class="xl66" align="right">17.50%</td> <td style="background-color: transparent;" class="xl66" align="right">12.50%</td> <td style="background-color: transparent;" class="xl66" align="right">12.50%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">High Yield</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">2.50%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Global Bonds</td> <td style="background-color: transparent;" class="xl66" align="right">14.00%</td> <td style="background-color: transparent;" class="xl66" align="right">16.00%</td> <td style="background-color: transparent;" class="xl66" align="right">19.50%</td> <td style="background-color: transparent;" class="xl66" align="right">22.50%</td> <td style="background-color: transparent;" class="xl66" align="right">22.50%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Inflation-Protected</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">    Securities</td> <td style="background-color: transparent;" class="xl66" align="right">14.00%</td> <td style="background-color: transparent;" class="xl66" align="right">15.00%</td> <td style="background-color: transparent;" class="xl66" align="right">15.00%</td> <td style="background-color: transparent;" class="xl66" align="right">15.00%</td> <td style="background-color: transparent;" class="xl66" align="right">15.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Short Duration Bonds</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">9.00%</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">27.50%</td> <td style="background-color: transparent;" class="xl66" align="right">27.50%</td></tr></table></div> PRINCIPAL RISKS The value of your investment in the Strategy will change with changes in the values of the Strategy’s investments in the Underlying Portfolios. There is no assurance that the Strategy will provide an investor with adequate income at or through retirement. The degree to which the following risks apply varies according to the Strategy’s asset allocation.<ul type="square"><li style="margin-left: -20px">MARKET RISK: The value of the Strategy’s investments will fluctuate as the stock or bond market fluctuates. The value of its investments may decline, sometimes rapidly and unpredictably, simply because of economic changes or other events that affect large portions of the market. It includes the risk that a particular style of investing, such as growth or value, may be underperforming the stock market generally.</li></ul><ul type="square"><li style="margin-left: -20px">INTEREST RATE RISK: Changes in interest rates will affect the value of the Strategy’s investments in Underlying Portfolios that invest in fixed-income securities. When interest rates rise, the value of investments in fixed-income securities tends to fall and this decrease in value may not be offset by higher income from new investments. Interest rate risk is generally greater for fixed-income securities with longer maturities or durations. Investments in fixed-income securities with lower credit ratings ("junk bonds") tend to have a higher probability that an issuer will default or fail to meet its payment obligations.</li></ul><ul type="square"><li style="margin-left: -20px">CREDIT RISK: An issuer or guarantor of a fixed-income security, or the counterparty to a derivatives or other contract, may be unable or unwilling to make timely payments of interest or principal, or to otherwise honor its obligations. The issuer or guarantor may default, causing a loss of the full principal amount of a security. The degree of risk for a particular security may be reflected in its credit rating. There is the possibility that the credit rating of a fixed-income security may be downgraded after purchase, which may adversely affect the value of the security. Investments in fixed-income securities with lower ratings tend to have a higher probability that an issuer will default or fail to meet its payment obligations.</li></ul><ul type="square"><li style="margin-left: -20px">ALLOCATION RISK: The allocation of investments among the Underlying Portfolios’ different investment styles, such as growth or value, equity or debt securities, or U.S. or non-U.S. securities, may have a more significant effect on the Strategy’s NAV when one of these investments is performing more poorly than the other.</li></ul><ul type="square"><li style="margin-left: -20px">INFLATION RISK: This is the risk that the value of assets or income from the Strategy’s investments in the Underlying Portfolios will be less in the future as inflation decreases the value of money. As inflation increases, the value of each Underlying Portfolio’s assets can decline as can the value of that Underlying Portfolio’s distributions.</li></ul><ul type="square"><li style="margin-left: -20px">FOREIGN (NON-U.S.) RISK: The Strategy’s investments in Underlying Portfolios that invest in securities of non-U.S. issuers may experience more rapid and extreme changes in value than investments in securities of U.S. issuers. These securities may fluctuate more widely in price and may be less liquid due to adverse market, economic, political, regulatory or other factors. This risk is greater when the Strategy has a higher asset allocation of Underlying Portfolios that invest in non-U.S. issuers.</li></ul><ul type="square"><li style="margin-left: -20px">EMERGING MARKET RISK: Investments in emerging market countries may involve more risk than investments in other foreign countries because the markets in emerging market countries are less developed and less liquid as well as subject to increased economic, political, regulatory and other uncertainties.</li></ul><ul type="square"><li style="margin-left: -20px">CURRENCY RISK: Fluctuations in currency exchange rates may negatively affect the value of the Strategy’s investments or reduce its returns.</li></ul><ul type="square"><li style="margin-left: -20px">CAPITALIZATION RISK: Investments in small- and mid-capitalization companies by Underlying Portfolios tend to be more volatile than investments in large-capitalization companies. Investments in small-capitalization companies may have additional risks because these companies often have limited product lines, markets, or financial resources.</li></ul><ul type="square"><li style="margin-left: -20px">FOCUSED PORTFOLIO RISK: The Underlying Portfolios that invest in a limited number of companies may have more risk because changes in the value of a single security may have a more significant effect, either negative or positive, on the Strategy’s NAV.</li></ul><ul type="square"><li style="margin-left: -20px">DERIVATIVES RISK: Investments in derivatives may be illiquid, difficult to price, and leveraged so that small changes may produce disproportionate losses, and may be subject to counterparty risk to a greater degree than more traditional investments.</li></ul><ul type="square"><li style="margin-left: -20px">LEVERAGE RISK: Borrowing money or other leverage may make an Underlying Portfolio’s investments more volatile because leverage tends to exaggerate the effect of any increase or decrease in the value of its investments. An Underlying Portfolio may create leverage through the use of certain portfolio management techniques such as reverse repurchase agreements or forward commitments, or by borrowing money.</li></ul><ul type="square"><li style="margin-left: -20px">MANAGEMENT RISK: The Strategy is subject to management risk because it is an actively managed investment fund. The Adviser will apply its investment techniques and risk analyses in making investment decisions for the Strategy, but there is no guarantee that its techniques will produce the intended results.</li></ul>As with all investments, you may lose money by investing in the Strategy. BAR CHART AND PERFORMANCE INFORMATION The bar chart and performance information provide an indication of the historical risk of an investment in the Strategy by showing: <ul type="square"><li style="margin-left: -20px">how the Strategy's performance changed from year to year over the life of the Strategy; and </li></ul><ul type="square"><li style="margin-left: -20px">how the Strategy's average annual returns for one and five years and since inception compare to those of a broad-based securities market index.</li></ul>You may obtain updated performance information on the Strategy's website at www.AllianceBernstein.com (click on "Individuals--U.S." then "Products & Performance"). <br/><br/>The Strategy's past performance before and after taxes, of course, does not necessarily indicate how it will perform in the future. BAR CHART The annual returns in the bar chart are for the Strategy's Class A shares and do not reflect sales loads. If sales loads were reflected, returns would be less than those shown. Through September 30, 2012, the year-to-date unannualized return for Class A shares was 9.66%. Calendar Year End (%)<br/><br/>During the period shown in the bar chart, the Strategy's:<br/><br/>BEST QUARTER WAS UP 18.78%, 3RD QUARTER, 2009; AND WORST QUARTER WAS DOWN -22.32%, 4TH QUARTER, 2008. PERFORMANCE TABLE<br/>AVERAGE ANNUAL TOTAL RETURNS <br/>(For the periods ended December 31, 2011) -0.0468 -0.0535 December 31, 2013 -0.049 -0.0287 -0.0199 -0.0002 -0.0062 -0.0027 -0.0002 0.1613 0.0551 0.088 0.22 You may qualify for sales charge reductions if you and members of your family invest, or agree to invest in the future, at least $100,000 in AllianceBernstein Mutual Funds. 100000 -0.0004 -0.0099 -0.0047 0.0014 0.0012 0.0063 As with all investments, you may lose money by investing in the Strategy. 0.0115 0.0134 0.0604 0.0214 0.0091 0.0114 The bar chart and performance information provide an indication of the historical risk of an investment in the Strategy by showing:<ul type="square"><li style="margin-left: -20px">how the Strategy’s performance changed from year to year over the life of the Strategy; and </li></ul> <ul type="square"><li style="margin-left: -20px">how the Strategy’s average annual returns for one and five years and since inception compare to those of a broad-based securities market index.</li></ul> www.AllianceBernstein.com The Strategy’s past performance before and after taxes, of course, does not necessarily indicate how it will perform in the future. 0.0244 0.0154 0.0167 0.0242 0.0239 0.0344 0.0291 0.0319 0.0345 0.0424 0.0559 0.0483 The annual returns in the bar chart are for the Strategy’s Class A shares and do not reflect sales loads. The Composite Benchmark reflects no deductions for fees, expenses or taxes. Are estimates based on the highest historical individual federal marginal income tax rates, and do not reflect the impact of state and local taxes Are not relevant to investors who hold Strategy shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. Are shown for Class A shares only and will vary for Class B, Class C and Advisor Class shares because these Classes have different expense ratios; 2005-09-01 2005-09-01 2005-09-01 2005-09-01 2005-09-01 2005-09-01 2005-09-01 2005-09-01 2005-09-01 2005-09-01 2005-09-01 2005-09-01 528 579 279 78 128 78 103 819 838 284 383 478 320 640 <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleShareholderFeesAllianceBernstein2000RetirementStrategy column period compact * ~</div> 1131 1123 1127 582 852 507 685 1149 1542 1902 1331 2471 2270 2015 <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleAnnualFundOperatingExpensesAllianceBernstein2000RetirementStrategy column period compact * ~</div> <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleExpenseExampleAllianceBernstein2000RetirementStrategy column period compact * ~</div> ALLIANCEBERNSTEIN 2045 RETIREMENT STRATEGY INVESTMENT OBJECTIVE FEES AND EXPENSES OF THE STRATEGY SHAREHOLDER FEES (fees paid directly from your investment) ANNUAL STRATEGY OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) PORTFOLIO TURNOVER The Strategy (or an Underlying Portfolio) pays transaction costs, such as commissions, when it buys or sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Strategy shares are held in a taxable account. These transaction costs, which are not reflected in the Annual Strategy Operating Expenses or in the Examples, affect the Strategy's performance. During the most recent fiscal year, the Strategy's portfolio turnover rate (which reflects only purchases and sales of the Underlying Portfolios) was 29% of the average value of its portfolio. EXAMPLES <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleShareholderFeesAllianceBernstein2005RetirementStrategy column period compact * ~</div> For the share classes listed below, you would pay the following expenses if you did not redeem your shares at the end of the period: <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleExpenseExampleNoRedemptionAllianceBernstein2000RetirementStrategy column period compact * ~</div> The Examples are intended to help you compare the cost of investing in the Strategy with the cost of investing in other mutual funds. The Examples assume that you invest $10,000 in the Strategy for the time periods indicated and then redeem all of your shares at the end of those periods. The Examples also assume that your investment has a 5% return each year, that the Strategy's operating expenses stay the same and that the fee waiver is in effect only for the first year. Although your actual costs may be higher or lower, based on these assumptions your costs would be: PRINCIPAL STRATEGIES: The Strategy seeks the highest total return over time consistent with its asset mix. Total return includes capital growth and income. To achieve its investment objective, the Strategy invests in a combination of portfolios of The AllianceBernstein Pooling Portfolios representing a variety of asset classes and investment styles (the "Underlying Portfolios"). The Strategy is managed to the specific year of planned retirement included in its name (the "retirement date"). The Strategy's asset mixes will become more conservative each year until reaching the year approximately fifteen years after the retirement date (the "target year") at which time the asset allocation mix will become static. This reflects the objective of pursuing the maximum amount of capital growth, consistent with a reasonable amount of risk, during the investor's pre-retirement and early retirement years. After retirement the Strategy's investment mix anticipates that an investor may take withdrawals from his or her account to provide supplemental retirement income.<br /><br /> After the retirement date of the Strategy, its asset mix seeks to minimize the likelihood that an investor in the Strategy experiences a significant loss of capital at a more advanced age. The asset mix for the Strategy will continue to change after the Strategy's retirement date with an increasing exposure to investments in fixed-income securities and short-term bonds until fifteen years after the Strategy's retirement date. Thereafter, the target asset allocation for the Strategy will generally be fixed. The static allocation of the Strategy's asset mix will be 27.5% short-duration bonds, 37.5% other fixed-income securities, 12.5% Volatility Management Portfolio, 15.5% other equities and 7% Multi-Asset Real Return Portfolio.<br /><br /> The Underlying Portfolios will include a Portfolio, the Volatility Management Portfolio, that is designed to reduce the overall effect of equity market volatility on the Strategy and the effects of adverse equity market conditions on its performance. The Volatility Management Portfolio will be a component of the Strategy's equity asset allocation. Under normal market conditions, this Underlying Portfolio will invest predominantly in equity securities. If the Adviser determines that the equity markets pose disproportionate risks, the Adviser will reduce (or eliminate) this Underlying Portfolio's equity investments and invest in fixed-income securities or other non-equity asset classes to reduce the risks of the Strategy's investments in equity securities.<br /><br /> The Adviser will allow the relative weightings of the Strategy's asset classes to vary in response to the markets, but ordinarily only by plus/minus 5%. Beyond those ranges, the Adviser will generally rebalance the portfolio toward the target asset allocation for the Strategy. However, there may be occasions when those ranges will expand to 10% of the Strategy's portfolio due to, among other things, appreciation of one of the asset classes.<br /><br /> The following chart illustrates how the asset mix of the Strategy will vary over time. In general, the asset mix of the Strategy will gradually shift from one comprised largely of Underlying Portfolios that emphasize investments in stocks to one that is comprised of a mixture of Underlying Portfolios that invest in bonds (including short-duration bonds) and stocks.<br /><br /> <div> <table style="width: 389pt; border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="518"><tr style="height: 15.75pt;"> <td style="background-color: transparent; width: 110pt; height: 15.75pt;" class="xl65" height="21" width="147"> </td> <td style="background-color: transparent; width: 59pt;" width="78"> </td> <td style="background-color: transparent; width: 48pt;" width="64"> </td> <td style="background-color: transparent; width: 172pt;" class="xl67" width="229" colspan="3">Years Before Retirement</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;" align="right">45</td> <td style="background-color: transparent;" align="right">40</td> <td style="background-color: transparent;" align="right">35</td> <td style="background-color: transparent;" align="right">30</td> <td style="background-color: transparent;" align="right">25</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Diversified Value</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">19.50%</td> <td style="background-color: transparent;" class="xl66" align="right">18.25%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Large Cap Growth</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">19.50%</td> <td style="background-color: transparent;" class="xl66" align="right">18.25%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Value</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Growth</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Value</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">17.00%</td> <td style="background-color: transparent;" class="xl66" align="right">16.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Growth</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">17.00%</td> <td style="background-color: transparent;" class="xl66" align="right">16.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Multi-Asset Real Return</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Volatility Management</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">10.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">High Yield</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Global Bonds</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Inflation-Protected</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">    Securities</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Short Duration Bonds</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl67" colspan="3">Years Before Retirement</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" align="right">20</td> <td style="background-color: transparent;" align="right">15</td> <td style="background-color: transparent;" align="right">10</td> <td style="background-color: transparent;" align="right">5</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Diversified Value</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">16.25%</td> <td style="background-color: transparent;" class="xl66" align="right">13.75%</td> <td style="background-color: transparent;" class="xl66" align="right">11.25%</td> <td style="background-color: transparent;" class="xl66" align="right">9.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Large Cap Growth</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">16.25%</td> <td style="background-color: transparent;" class="xl66" align="right">13.75%</td> <td style="background-color: transparent;" class="xl66" align="right">11.25%</td> <td style="background-color: transparent;" class="xl66" align="right">9.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Value</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">4.25%</td> <td style="background-color: transparent;" class="xl66" align="right">3.50%</td> <td style="background-color: transparent;" class="xl66" align="right">2.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Growth</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">4.25%</td> <td style="background-color: transparent;" class="xl66" align="right">3.50%</td> <td style="background-color: transparent;" class="xl66" align="right">2.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Value</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">14.00%</td> <td style="background-color: transparent;" class="xl66" align="right">12.00%</td> <td style="background-color: transparent;" class="xl66" align="right">9.75%</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Growth</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">14.00%</td> <td style="background-color: transparent;" class="xl66" align="right">12.00%</td> <td style="background-color: transparent;" class="xl66" align="right">9.75%</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Multi-Asset Real Return</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td> <td style="background-color: transparent;" class="xl66" align="right">10.00%</td> <td style="background-color: transparent;" class="xl66" align="right">10.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Volatility Management</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">12.50%</td> <td style="background-color: transparent;" class="xl66" align="right">17.50%</td> <td style="background-color: transparent;" class="xl66" align="right">20.00%</td> <td style="background-color: transparent;" class="xl66" align="right">20.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">High Yield</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Global Bonds</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">10.00%</td> <td style="background-color: transparent;" class="xl66" align="right">12.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Inflation-Protected</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">    Securities</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td> <td style="background-color: transparent;" class="xl66" align="right">9.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Short Duration Bonds</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;" class="xl67" colspan="2">Retirement Date</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl67" colspan="2">Years After Retirement</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;" align="right">0</td> <td style="background-color: transparent;" align="right">5</td> <td style="background-color: transparent;" align="right">10</td> <td style="background-color: transparent;" align="right">15</td> <td style="background-color: transparent;" align="right">20</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Diversified Value</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.45%</td> <td style="background-color: transparent;" class="xl66" align="right">5.25%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Large Cap Growth</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.45%</td> <td style="background-color: transparent;" class="xl66" align="right">5.25%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Value</td> <td style="background-color: transparent;" class="xl66" align="right">2.00%</td> <td style="background-color: transparent;" class="xl66" align="right">1.50%</td> <td style="background-color: transparent;" class="xl66" align="right">1.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.75%</td> <td style="background-color: transparent;" class="xl66" align="right">0.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Growth</td> <td style="background-color: transparent;" class="xl66" align="right">2.00%</td> <td style="background-color: transparent;" class="xl66" align="right">1.50%</td> <td style="background-color: transparent;" class="xl66" align="right">1.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.75%</td> <td style="background-color: transparent;" class="xl66" align="right">0.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Value</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td> <td style="background-color: transparent;" class="xl66" align="right">3.00%</td> <td style="background-color: transparent;" class="xl66" align="right">3.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Growth</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.30%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td> <td style="background-color: transparent;" class="xl66" align="right">3.00%</td> <td style="background-color: transparent;" class="xl66" align="right">3.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Multi-Asset Real Return</td> <td style="background-color: transparent;" class="xl66" align="right">10.00%</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Volatility Management</td> <td style="background-color: transparent;" class="xl66" align="right">20.00%</td> <td style="background-color: transparent;" class="xl66" align="right">20.00%</td> <td style="background-color: transparent;" class="xl66" align="right">17.50%</td> <td style="background-color: transparent;" class="xl66" align="right">12.50%</td> <td style="background-color: transparent;" class="xl66" align="right">12.50%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">High Yield</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">2.50%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Global Bonds</td> <td style="background-color: transparent;" class="xl66" align="right">14.00%</td> <td style="background-color: transparent;" class="xl66" align="right">16.00%</td> <td style="background-color: transparent;" class="xl66" align="right">19.50%</td> <td style="background-color: transparent;" class="xl66" align="right">22.50%</td> <td style="background-color: transparent;" class="xl66" align="right">22.50%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Inflation-Protected</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">    Securities</td> <td style="background-color: transparent;" class="xl66" align="right">14.00%</td> <td style="background-color: transparent;" class="xl66" align="right">15.00%</td> <td style="background-color: transparent;" class="xl66" align="right">15.00%</td> <td style="background-color: transparent;" class="xl66" align="right">15.00%</td> <td style="background-color: transparent;" class="xl66" align="right">15.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Short Duration Bonds</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">9.00%</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">27.50%</td> <td style="background-color: transparent;" class="xl66" align="right">27.50%</td></tr></table></div> PRINCIPAL RISKS The value of your investment in the Strategy will change with changes in the values of the Strategy's investments in the Underlying Portfolios. There is no assurance that the Strategy will provide an investor with adequate income at or through retirement. The degree to which the following risks apply varies according to the Strategy's asset allocation. <ul type="square"><li style="margin-left:-20px">MARKET RISK: The value of the Strategy's investments will fluctuate as the stock or bond market fluctuates. The value of its investments may decline, sometimes rapidly and unpredictably, simply because of economic changes or other events that affect large portions of the market. It includes the risk that a particular style of investing, such as growth or value, may be underperforming the stock market generally.</li></ul> <ul type="square"><li style="margin-left:-20px">INTEREST RATE RISK: Changes in interest rates will affect the value of the Strategy's investments in Underlying Portfolios that invest in fixed-income securities. When interest rates rise, the value of investments in fixed-income securities tends to fall and this decrease in value may not be offset by higher income from new investments. Interest rate risk is generally greater for fixed-income securities with longer maturities or durations. Investments in fixed-income securities with lower credit ratings ("junk bonds") tend to have a higher probability that an issuer will default or fail to meet its payment obligations.</li></ul> <ul type="square"><li style="margin-left:-20px">CREDIT RISK: An issuer or guarantor of a fixed-income security, or the counterparty to a derivatives or other contract, may be unable or unwilling to make timely payments of interest or principal, or to otherwise honor its obligations. The issuer or guarantor may default, causing a loss of the full principal amount of a security. The degree of risk for a particular security may be reflected in its credit rating. There is the possibility that the credit rating of a fixed-income security may be downgraded after purchase, which may adversely affect the value of the security. Investments in fixed-income securities with lower ratings tend to have a higher probability that an issuer will default or fail to meet its payment obligations.</li></ul> <ul type="square"><li style="margin-left:-20px">ALLOCATION RISK: The allocation of investments among the Underlying Portfolios' different investment styles, such as growth or value, equity or debt securities, or U.S. or non-U.S. securities, may have a more significant effect on the Strategy's NAV when one of these investments is performing more poorly than the other.</li></ul> <ul type="square"><li style="margin-left:-20px">INFLATION RISK: This is the risk that the value of assets or income from the Strategy's investments in the Underlying Portfolios will be less in the future as inflation decreases the value of money. As inflation increases, the value of each Underlying Portfolio's assets can decline as can the value of that Underlying Portfolio's distributions.</li></ul> <ul type="square"><li style="margin-left:-20px">FOREIGN (NON-U.S.) RISK: The Strategy's investments in Underlying Portfolios that invest in securities of non-U.S. issuers may experience more rapid and extreme changes in value than investments in securities of U.S. issuers. These securities may fluctuate more widely in price and may be less liquid due to adverse market, economic, political, regulatory or other factors. This risk is greater when the Strategy has a higher asset allocation of Underlying Portfolios that invest in non-U.S. issuers.</li></ul> <ul type="square"><li style="margin-left:-20px">EMERGING MARKET RISK: Investments in emerging market countries may involve more risk than investments in other foreign countries because the markets in emerging market countries are less developed and less liquid as well as subject to increased economic, political, regulatory and other uncertainties.</li></ul> <ul type="square"><li style="margin-left:-20px">CURRENCY RISK: Fluctuations in currency exchange rates may negatively affect the value of the Strategy's investments or reduce its returns.</li></ul> <ul type="square"><li style="margin-left:-20px">CAPITALIZATION RISK: Investments in small- and mid-capitalization companies by Underlying Portfolios tend to be more volatile than investments in large-capitalization companies. Investments in small-capitalization companies may have additional risks because these companies often have limited product lines, markets, or financial resources.</li></ul> <ul type="square"><li style="margin-left:-20px">FOCUSED PORTFOLIO RISK: The Underlying Portfolios that invest in a limited number of companies may have more risk because changes in the value of a single security may have a more significant effect, either negative or positive, on the Strategy's NAV.</li></ul> <ul type="square"><li style="margin-left:-20px">DERIVATIVES RISK: Investments in derivatives may be illiquid, difficult to price, and leveraged so that small changes may produce disproportionate losses, and may be subject to counterparty risk to a greater degree than more traditional investments.</li></ul> <ul type="square"><li style="margin-left:-20px">LEVERAGE RISK: Borrowing money or other leverage may make an Underlying Portfolio's investments more volatile because leverage tends to exaggerate the effect of any increase or decrease in the value of its investments. An Underlying Portfolio may create leverage through the use of certain portfolio management techniques such as reverse repurchase agreements or forward commitments, or by borrowing money.</li></ul> <ul type="square"><li style="margin-left:-20px">MANAGEMENT RISK: The Strategy is subject to management risk because it is an actively managed investment fund. The Adviser will apply its investment techniques and risk analyses in making investment decisions for the Strategy, but there is no guarantee that its techniques will produce the intended results.</li></ul> As with all investments, you may lose money by investing in the Strategy. <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleAnnualFundOperatingExpensesAllianceBernstein2005RetirementStrategy column period compact * ~</div> BAR CHART AND PERFORMANCE INFORMATION The bar chart and performance information provide an indication of the historical risk of an investment in the Strategy by showing: <ul type="square"><li style="margin-left:-20px"> how the Strategy's performance changed from year to year over the life of the Strategy; and</li></ul> <ul type="square"><li style="margin-left:-20px"> how the Strategy's average annual returns for one and five years and since inception compare to those of a broad-based securities market index.</li></ul> You may obtain updated performance information on the Strategy's website at www.AllianceBernstein.com (click on "Individuals--U.S." then "Products & Performance").<br /><br /> The Strategy's past performance before and after taxes, of course, does not necessarily indicate how it will perform in the future. BAR CHART 179 179 638 640 <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleAnnualTotalReturnsAllianceBernstein2000RetirementStrategyBarChart column period compact * ~</div> 1123 1127 The annual returns in the bar chart are for the Strategy's Class A shares and do not reflect sales loads. If sales loads were reflected, returns would be less than those shown. Through September 30, 2012, the year-to-date unannualized return for Class A shares was 10.89%. Calendar Year End (%)<br/><br />During the period shown in the bar chart, the Strategy's:<br/><br/> BEST QUARTER WAS UP 18.57%, 3RD QUARTER, 2009; AND WORST QUARTER WAS DOWN -22.49%, 4TH QUARTER, 2008. 2270 2471 PERFORMANCE TABLE<br /> AVERAGE ANNUAL TOTAL RETURNS<br /> (For the periods ended December 31, 2011) 0.0425 0 0 0 0 0 0 <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleExpenseExampleAllianceBernstein2005RetirementStrategy column period compact * ~</div> <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleAverageAnnualTotalReturnsTransposedAllianceBernstein2000RetirementStrategy column period compact * ~</div> 0 0.04 0.01 0 0 0 0 <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleExpenseExampleNoRedemptionAllianceBernstein2005RetirementStrategy column period compact * ~</div> 0.1725 0.0571 -0.4149 0.3152 0.1269 -0.0733 <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleAnnualTotalReturnsAllianceBernstein2005RetirementStrategyBarChart column period compact * ~</div> 0.0065 0.0065 0.0065 0.0065 0.0065 0.0065 0.0065 0.003 0.01 0.01 0 0.005 0.0025 0 -0.0705 -0.1123 -0.1142 -0.1151 -0.0893 -0.0702 -0.0739 -0.0719 <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleAverageAnnualTotalReturnsTransposedAllianceBernstein2005RetirementStrategy column period compact * ~</div> -0.0702 0.1613 0.0551 0.1321 0.0028 0.0038 0.0036 0.0029 0.0024 0.0016 0.0006 0.003 0.003 0.003 0.003 0.003 0.003 0.003 -0.0404 -0.0446 -0.0388 -0.0291 -0.0291 -0.001 0.0604 0.0134 -0.0315 -0.034 -0.0389 -0.0348 0.0068 0.0058 0.0066 0.0059 0.0054 0.0046 0.0036 0.0015 -0.0027 0.0003 0.0014 0.0113 0.0089 0.0559 0.0415 0.0424 0.0014 0.0062 0.0013 0.0003 0.0003 0.0003 0.0003 0.0003 0.0003 0.0003 2005-09-01 2005-09-01 2005-09-01 2005-09-01 2005-09-01 2005-09-01 2005-09-01 0.0156 2005-09-01 2005-09-01 2005-09-01 0.0236 2005-09-01 2005-09-01 0.0234 0.0127 0.0172 0.0139 0.0104 -0.005 -0.006 -0.0058 -0.0051 -0.0046 -0.0038 -0.0028 0.0106 0.0176 0.0176 0.0076 0.0126 0.0101 0.0076 0 0 0 2005-09-01 0 2005-09-01 2005-09-01 0.01 0.04 2005-09-01 2005-09-01 0 2005-09-01 2005-09-01 2005-09-01 2005-09-01 2005-09-01 2005-09-01 2005-09-01 0.0052 0.0003 0.003 0.0047 0.0048 0.015 0.0102 0.0125 0.015 0.0424 0.0559 0.0435 528 579 279 78 -0.0354 128 -0.0404 -0.0311 103 -0.0338 -0.0338 -0.024 -0.029 -0.0265 -0.0239 0.0134 0.0604 0.0023 850 879 675 352 497 403 -0.1036 -0.106 -0.0643 -0.1077 -0.0797 -0.0616 -0.0667 -0.064 -0.0614 0.1613 0.0551 0.1292 1194 1206 1198 648 890 724 2162 2450 2632 1489 1992 1636 1246 547 303 78 179 179 679 675 1206 1198 2450 2632 0.1329 -0.1201 -0.122 -0.0757 -0.0962 -0.1228 -0.0782 -0.0825 -0.0798 -0.0777 0.1613 0.0551 -0.0017 -0.043 -0.0472 -0.0368 -0.0413 -0.0412 -0.0317 -0.034 -0.0365 -0.0318 0.0134 0.0604 0.0411 0.0006 -0.0034 -0.0002 0.0004 0.0003 0.0103 0.0053 0.0079 0.0102 0.0424 0.0559 0.0425 0 0 0 0 0 0 0 0.04 0.01 0 0 0 0 0 0 0 0 0 0 0 (NOT CURRENTLY OFFERED TO NEW INVESTORS) 0.1764 0.1766 0.0572 -0.4153 0.3134 0.1235 -0.0807 (NOT CURRENTLY OFFERED TO NEW INVESTORS) 0.0552 -0.4098 0.327 0.1279 <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleShareholderFeesAllianceBernstein2035RetirementStrategy column period compact * ~</div> -0.0643 year-to-date BEST QUARTER WORST QUARTER 2012-09-30 2009-09-30 179 179 2008-12-31 0.1089 619 619 0.1857 0.006 -0.2249 1085 1085 0.006 0.006 0.006 0.006 0.006 0.006 <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleAnnualFundOperatingExpensesAllianceBernstein2035RetirementStrategy column period compact * ~</div> 2183 2375 0.003 0.01 0.01 0 0.005 0.0025 0 0.0012 0.0016 0.0015 0.0012 0.0026 0.0019 0.0006 0.001 0.001 0.001 0.001 0.001 0.001 0.001 528 579 279 78 128 0.0022 103 0.0026 78 0.0025 0.0022 0.0036 0.0029 0.0016 801 819 619 295 465 375 273 0.0004 0.0004 0.0004 0.0004 0.0004 0.0004 0.0004 1094 1085 1085 529 826 668 485 0.0116 0.019 0.0189 1926 0.0086 2183 0.015 2375 1203 0.0118 1841 1501 0.008 1095 -0.0018 -0.0014 -0.0017 -0.0014 -0.0028 -0.0021 -0.0008 0.0102 0.0172 0.0172 0.0072 0.0122 0.0097 0.0072 December 31, 2013 0.29 You may qualify for sales charge reductions if you and members of your family invest, or agree to invest in the future, at least $100,000 in AllianceBernstein Mutual Funds. <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleAnnualTotalReturnsAllianceBernstein2035RetirementStrategyBarChart column period compact * ~</div> 100000 0.0425 0 0 0 0 0 0 As with all investments, you may lose money by investing in the Strategy. 0 0.04 0.01 0 0 0 0 The bar chart and performance information provide an indication of the historical risk of an investment in the Strategy by showing: <ul type="square"><li style="margin-left:-20px"> how the Strategy's performance changed from year to year over the life of the Strategy; and</li></ul> <ul type="square"><li style="margin-left:-20px"> how the Strategy's average annual returns for one and five years and since inception compare to those of a broad-based securities market index.</li></ul> www.AllianceBernstein.com The Strategy's past performance before and after taxes, of course, does not necessarily indicate how it will perform in the future. The annual returns in the bar chart are for the Strategy's Class A shares and do not reflect sales loads. 0 0 0 0.0065 0 0 0 0.0065 0 0.0065 0.0065 0.0065 0.0065 The Composite Benchmark reflects no deductions for fees, expenses or taxes. 0.0065 Are estimates based on the highest historical individual federal marginal income tax rates, and do not reflect the impact of state and local taxes <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleAverageAnnualTotalReturnsTransposedAllianceBernstein2035RetirementStrategy column period compact * ~</div> Are not relevant to investors who hold Strategy shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. 0.003 0.01 0.01 Are shown for Class A shares only and will vary for Class B, Class C and Advisor Class shares because these Classes have different expense ratios; 0 0.005 0.0025 0 525 575 0.002 275 0.0025 0.0025 74 0.0018 124 0.0025 0.0019 99 0.0008 74 765 780 577 260 447 354 247 0.0013 0.0013 0.0013 0.0013 0.0013 0.0013 0.0013 1023 1010 1006 463 0.0033 792 629 0.0038 436 0.0038 0.0031 0.0038 0.0032 0.0021 1762 2015 2198 1048 1767 1413 0.0004 0.0004 982 0.0004 0.0004 0.0004 0.0004 0.0004 -0.0026 -0.0031 -0.0031 -0.0024 -0.0031 -0.0025 -0.0014 0.0106 0.0176 0.0176 0.0076 0.0126 0.0101 0.0076 <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleExpenseExampleAllianceBernstein2035RetirementStrategy column period compact * ~</div> 0.0132 0.0207 0.0207 0.01 0.0157 0.0126 0.009 175 175 580 577 1010 1006 2015 2198 <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleExpenseExampleNoRedemptionAllianceBernstein2035RetirementStrategy column period compact * ~</div> 0.1617 0.05 -0.382 0.3193 0.1292 -0.0405 -0.081 -0.0846 -0.0491 -0.0839 -0.0563 -0.0379 -0.0426 -0.0393 -0.0377 0.1613 0.0551 0.1163 -0.0235 -0.0304 -0.0223 -0.0219 -0.0217 -0.0119 -0.0169 -0.0145 -0.0121 0.0134 0.0604 0.0095 0.0126 0.0061 0.0083 0.0123 0.0125 0.0226 0.0175 0.0201 0.0225 0.0424 0.0559 0.0055 0.0453 0.0055 0.0055 0.0055 0.0055 0.0055 0.0055 0.003 0.01 0.01 0 0.005 0.0025 0 0.0425 0 0 0 0 0 0 0 0.04 0.01 0 0 0 0 0 0 0 0 0 0 0 0.0012 0.0018 0.0014 0.0014 0.0025 0.0019 0.0009 0.0029 0.0029 0.0029 0.0027 0.0029 0.0028 0.0029 0.0041 0.0047 0.0043 0.0041 0.0054 0.0047 0.0038 ALLIANCEBERNSTEIN 2050 RETIREMENT STRATEGY The Strategy's investment objective is to seek the highest total return (total return includes capital appreciation and income) over time consistent with its asset mix. INVESTMENT OBJECTIVE FEES AND EXPENSES OF THE STRATEGY 0.0004 This table describes the fees and expenses that you may pay if you buy and hold shares of the Strategy. You may qualify for sales charge reductions if you and members of your family invest, or agree to invest in the future, at least $100,000 in AllianceBernstein Mutual Funds. More information about these and other discounts is available from your financial intermediary and in Investing in the Strategies--Sales Charge Reduction Programs for Class A Shares on page 72 of this Prospectus and in Purchase of Shares--Sales Charge Reduction Programs for Class A Shares on page 109 of the Strategy's SAI. 0.0004 0.0004 0.0004 0.0004 0.0004 0.0004 SHAREHOLDER FEES (fees paid directly from your investment) ANNUAL STRATEGY OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) EXAMPLES 0.013 0.0206 0.0202 The Examples are intended to help you compare the cost of investing in the Strategy with the cost of investing in other mutual funds. The Examples assume that you invest $10,000 in the Strategy for the time periods indicated and then redeem all of your shares at the end of those periods. The Examples also assume that your investment has a 5% return each year, that the Strategy's operating expenses stay the same and that the fee waiver is in effect only for the first year. Although your actual costs may be higher or lower, based on these assumptions your costs would be: 0.01 0.0163 0.0131 0.0097 PORTFOLIO TURNOVER The Strategy (or an Underlying Portfolio) pays transaction costs, such as commissions, when it buys or sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Strategy shares are held in a taxable account. These transaction costs, which are not reflected in the Annual Strategy Operating Expenses or in the Examples, affect the Strategy's performance. During the most recent fiscal year, the Strategy's portfolio turnover rate (which reflects only purchases and sales of the Underlying Portfolios) was 57% of the average value of its portfolio. PRINCIPAL STRATEGIES: The Strategy seeks the highest total return over time consistent with its asset mix. Total return includes capital growth and income. To achieve its investment objective, the Strategy invests in a combination of portfolios of The AllianceBernstein Pooling Portfolios representing a variety of asset classes and investment styles (the "Underlying Portfolios"). The Strategy is managed to the specific year of planned retirement included in its name (the "retirement date"). The Strategy's asset mixes will become more conservative each year until reaching the year approximately fifteen years after the retirement date (the "target year") at which time the asset allocation mix will become static. This reflects the objective of pursuing the maximum amount of capital growth, consistent with a reasonable amount of risk, during the investor's pre-retirement and early retirement years. After retirement the Strategy's investment mix anticipates that an investor may take withdrawals from his or her account to provide supplemental retirement income.<br/><br/> After the retirement date of the Strategy, its asset mix seeks to minimize the likelihood that an investor in the Strategy experiences a significant loss of capital at a more advanced age. The asset mix for the Strategy will continue to change after the Strategy's retirement date with an increasing exposure to investments in fixed-income securities and short-term bonds until fifteen years after the Strategy's retirement date. Thereafter, the target asset allocation for the Strategy will generally be fixed. The static allocation of the Strategy's asset mix will be 27.5% short-duration bonds, 37.5% other fixed-income securities, 12.5% Volatility Management Portfolio, 15.5% other equities and 7% Multi-Asset Real Return Portfolio.<br/><br/> The Underlying Portfolios will include a Portfolio, the Volatility Management Portfolio, that is designed to reduce the overall effect of equity market volatility on the Strategy and the effects of adverse equity market conditions on its performance. The Volatility Management Portfolio will be a component of the Strategy's equity asset allocation. Under normal market conditions, this Underlying Portfolio will invest predominantly in equity securities. If the Adviser determines that the equity markets pose disproportionate risks, the Adviser will reduce (or eliminate) this Underlying Portfolio's equity investments and invest in fixed-income securities or other non-equity asset classes to reduce the risks of the Strategy's investments in equity securities.<br/><br/> The Adviser will allow the relative weightings of the Strategy's asset classes to vary in response to the markets, but ordinarily only by plus/minus 5%. Beyond those ranges, the Adviser will generally rebalance the portfolio toward the target asset allocation for the Strategy. However, there may be occasions when those ranges will expand to 10% of the Strategy's portfolio due to, among other things, appreciation of one of the asset classes.<br/><br/>The following chart illustrates how the asset mix of the Strategy will vary over time. In general, the asset mix of the Strategy will gradually shift from one comprised largely of Underlying Portfolios that emphasize investments in stocks to one that is comprised of a mixture of Underlying Portfolios that invest in bonds (including short-duration bonds) and stocks.<br/><br/> <div> <table style="width: 389pt; border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="518"><tr style="height: 15.75pt;"> <td style="background-color: transparent; width: 110pt; height: 15.75pt;" class="xl65" height="21" width="147"> </td> <td style="background-color: transparent; width: 59pt;" width="78"> </td> <td style="background-color: transparent; width: 48pt;" width="64"> </td> <td style="background-color: transparent; width: 172pt;" class="xl67" width="229" colspan="3">Years Before Retirement</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;" align="right">45</td> <td style="background-color: transparent;" align="right">40</td> <td style="background-color: transparent;" align="right">35</td> <td style="background-color: transparent;" align="right">30</td> <td style="background-color: transparent;" align="right">25</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Diversified Value</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">19.50%</td> <td style="background-color: transparent;" class="xl66" align="right">18.25%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Large Cap Growth</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">19.50%</td> <td style="background-color: transparent;" class="xl66" align="right">18.25%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Value</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Growth</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Value</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">17.00%</td> <td style="background-color: transparent;" class="xl66" align="right">16.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Growth</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">17.00%</td> <td style="background-color: transparent;" class="xl66" align="right">16.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Multi-Asset Real Return</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Volatility Management</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">10.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">High Yield</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Global Bonds</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Inflation-Protected</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">    Securities</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Short Duration Bonds</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl67" colspan="3">Years Before Retirement</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" align="right">20</td> <td style="background-color: transparent;" align="right">15</td> <td style="background-color: transparent;" align="right">10</td> <td style="background-color: transparent;" align="right">5</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Diversified Value</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">16.25%</td> <td style="background-color: transparent;" class="xl66" align="right">13.75%</td> <td style="background-color: transparent;" class="xl66" align="right">11.25%</td> <td style="background-color: transparent;" class="xl66" align="right">9.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Large Cap Growth</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">16.25%</td> <td style="background-color: transparent;" class="xl66" align="right">13.75%</td> <td style="background-color: transparent;" class="xl66" align="right">11.25%</td> <td style="background-color: transparent;" class="xl66" align="right">9.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Value</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">4.25%</td> <td style="background-color: transparent;" class="xl66" align="right">3.50%</td> <td style="background-color: transparent;" class="xl66" align="right">2.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Growth</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">4.25%</td> <td style="background-color: transparent;" class="xl66" align="right">3.50%</td> <td style="background-color: transparent;" class="xl66" align="right">2.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Value</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">14.00%</td> <td style="background-color: transparent;" class="xl66" align="right">12.00%</td> <td style="background-color: transparent;" class="xl66" align="right">9.75%</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Growth</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">14.00%</td> <td style="background-color: transparent;" class="xl66" align="right">12.00%</td> <td style="background-color: transparent;" class="xl66" align="right">9.75%</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Multi-Asset Real Return</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td> <td style="background-color: transparent;" class="xl66" align="right">10.00%</td> <td style="background-color: transparent;" class="xl66" align="right">10.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Volatility Management</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">12.50%</td> <td style="background-color: transparent;" class="xl66" align="right">17.50%</td> <td style="background-color: transparent;" class="xl66" align="right">20.00%</td> <td style="background-color: transparent;" class="xl66" align="right">20.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">High Yield</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Global Bonds</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">10.00%</td> <td style="background-color: transparent;" class="xl66" align="right">12.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Inflation-Protected</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">    Securities</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td> <td style="background-color: transparent;" class="xl66" align="right">9.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Short Duration Bonds</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;" class="xl67" colspan="2">Retirement Date</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl67" colspan="2">Years After Retirement</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;" align="right">0</td> <td style="background-color: transparent;" align="right">5</td> <td style="background-color: transparent;" align="right">10</td> <td style="background-color: transparent;" align="right">15</td> <td style="background-color: transparent;" align="right">20</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Diversified Value</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.45%</td> <td style="background-color: transparent;" class="xl66" align="right">5.25%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Large Cap Growth</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.45%</td> <td style="background-color: transparent;" class="xl66" align="right">5.25%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Value</td> <td style="background-color: transparent;" class="xl66" align="right">2.00%</td> <td style="background-color: transparent;" class="xl66" align="right">1.50%</td> <td style="background-color: transparent;" class="xl66" align="right">1.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.75%</td> <td style="background-color: transparent;" class="xl66" align="right">0.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Growth</td> <td style="background-color: transparent;" class="xl66" align="right">2.00%</td> <td style="background-color: transparent;" class="xl66" align="right">1.50%</td> <td style="background-color: transparent;" class="xl66" align="right">1.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.75%</td> <td style="background-color: transparent;" class="xl66" align="right">0.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Value</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td> <td style="background-color: transparent;" class="xl66" align="right">3.00%</td> <td style="background-color: transparent;" class="xl66" align="right">3.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Growth</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.30%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td> <td style="background-color: transparent;" class="xl66" align="right">3.00%</td> <td style="background-color: transparent;" class="xl66" align="right">3.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Multi-Asset Real Return</td> <td style="background-color: transparent;" class="xl66" align="right">10.00%</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Volatility Management</td> <td style="background-color: transparent;" class="xl66" align="right">20.00%</td> <td style="background-color: transparent;" class="xl66" align="right">20.00%</td> <td style="background-color: transparent;" class="xl66" align="right">17.50%</td> <td style="background-color: transparent;" class="xl66" align="right">12.50%</td> <td style="background-color: transparent;" class="xl66" align="right">12.50%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">High Yield</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">2.50%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Global Bonds</td> <td style="background-color: transparent;" class="xl66" align="right">14.00%</td> <td style="background-color: transparent;" class="xl66" align="right">16.00%</td> <td style="background-color: transparent;" class="xl66" align="right">19.50%</td> <td style="background-color: transparent;" class="xl66" align="right">22.50%</td> <td style="background-color: transparent;" class="xl66" align="right">22.50%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Inflation-Protected</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">    Securities</td> <td style="background-color: transparent;" class="xl66" align="right">14.00%</td> <td style="background-color: transparent;" class="xl66" align="right">15.00%</td> <td style="background-color: transparent;" class="xl66" align="right">15.00%</td> <td style="background-color: transparent;" class="xl66" align="right">15.00%</td> <td style="background-color: transparent;" class="xl66" align="right">15.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Short Duration Bonds</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">9.00%</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">27.50%</td> <td style="background-color: transparent;" class="xl66" align="right">27.50%</td></tr></table></div> PRINCIPAL RISKS -0.0036 -0.0042 -0.0038 -0.0036 The value of your investment in the Strategy will change with changes in the values of the Strategy's investments in the Underlying Portfolios. There is no assurance that the Strategy will provide an investor with adequate income at or through retirement. The degree to which the following risks apply varies according to the Strategy's asset allocation.<ul type="square"><li style="margin-left:-20px"> MARKET RISK: The value of the Strategy's investments will fluctuate as the stock or bond market fluctuates. The value of its investments may decline, sometimes rapidly and unpredictably, simply because of economic changes or other events that affect large portions of the market. It includes the risk that a particular style of investing, such as growth or value, may be underperforming the stock market generally.</li></ul><ul type="square"><li style="margin-left:-20px"> INTEREST RATE RISK: Changes in interest rates will affect the value of the Strategy's investments in Underlying Portfolios that invest in fixed-income securities. When interest rates rise, the value of investments in fixed-income securities tends to fall and this decrease in value may not be offset by higher income from new investments. Interest rate risk is generally greater for fixed-income securities with longer maturities or durations. Investments in fixed-income securities with lower credit ratings ("junk bonds") tend to have a higher probability that an issuer will default or fail to meet its payment obligations.</li></ul><ul type="square"><li style="margin-left:-20px"> CREDIT RISK: An issuer or guarantor of a fixed-income security, or the counterparty to a derivatives or other contract, may be unable or unwilling to make timely payments of interest or principal, or to otherwise honor its obligations. The issuer or guarantor may default, causing a loss of the full principal amount of a security. The degree of risk for a particular security may be reflected in its credit rating. There is the possibility that the credit rating of a fixed-income security may be downgraded after purchase, which may adversely affect the value of the security. Investments in fixed-income securities with lower ratings tend to have a higher probability that an issuer will default or fail to meet its payment obligations.</li></ul><ul type="square"><li style="margin-left:-20px"> ALLOCATION RISK: The allocation of investments among the Underlying Portfolios' different investment styles, such as growth or value, equity or debt securities, or U.S. or non-U.S. securities, may have a more significant effect on the Strategy's NAV when one of these investments is performing more poorly than the other.</li></ul><ul type="square"><li style="margin-left:-20px"> INFLATION RISK: This is the risk that the value of assets or income from the Strategy's investments in the Underlying Portfolios will be less in the future as inflation decreases the value of money. As inflation increases, the value of each Underlying Portfolio's assets can decline as can the value of that Underlying Portfolio's distributions.</li></ul><ul type="square"><li style="margin-left:-20px"> FOREIGN (NON-U.S.) RISK: The Strategy's investments in Underlying Portfolios that invest in securities of non-U.S. issuers may experience more rapid and extreme changes in value than investments in securities of U.S. issuers. These securities may fluctuate more widely in price and may be less liquid due to adverse market, economic, political, regulatory or other factors. This risk is greater when the Strategy has a higher asset allocation of Underlying Portfolios that invest in non-U.S. issuers.</li></ul><ul type="square"><li style="margin-left:-20px"> EMERGING MARKET RISK: Investments in emerging market countries may involve more risk than investments in other foreign countries because the markets in emerging market countries are less developed and less liquid as well as subject to increased economic, political, regulatory and other uncertainties.</li></ul><ul type="square"><li style="margin-left:-20px"> CURRENCY RISK: Fluctuations in currency exchange rates may negatively affect the value of the Strategy's investments or reduce its returns.</li></ul><ul type="square"><li style="margin-left:-20px"> CAPITALIZATION RISK: Investments in small- and mid-capitalization companies by Underlying Portfolios tend to be more volatile than investments in large-capitalization companies. Investments in small-capitalization companies may have additional risks because these companies often have limited product lines, markets, or financial resources.</li></ul><ul type="square"><li style="margin-left:-20px"> FOCUSED PORTFOLIO RISK: The Underlying Portfolios that invest in a limited number of companies may have more risk because changes in the value of a single security may have a more significant effect, either negative or positive, on the Strategy's NAV.</li></ul><ul type="square"><li style="margin-left:-20px"> DERIVATIVES RISK: Investments in derivatives may be illiquid, difficult to price, and leveraged so that small changes may produce disproportionate losses, and may be subject to counterparty risk to a greater degree than more traditional investments.</li></ul><ul type="square"><li style="margin-left:-20px"> LEVERAGE RISK: Borrowing money or other leverage may make an Underlying Portfolio's investments more volatile because leverage tends to exaggerate the effect of any increase or decrease in the value of its investments. An Underlying Portfolio may create leverage through the use of certain portfolio management techniques such as reverse repurchase agreements or forward commitments, or by borrowing money.</li></ul><ul type="square"><li style="margin-left:-20px"> MANAGEMENT RISK: The Strategy is subject to management risk because it is an actively managed investment fund. The Adviser will apply its investment techniques and risk analyses in making investment decisions for the Strategy, but there is no guarantee that its techniques will produce the intended results.</li></ul> As with all investments, you may lose money by investing in the Strategy. -0.0049 -0.0042 -0.0033 BAR CHART AND PERFORMANCE INFORMATION The bar chart and performance information provide an indication of the historical risk of an investment in the Strategy by showing:<ul type="square"><li style="margin-left:-20px"> how the Strategy's performance changed from year to year over the life of the Strategy; and </li></ul><ul type="square"><li style="margin-left:-20px"> how the Strategy's average annual returns for one year and since inception compare to those of a broad-based securities market index. </li></ul> You may obtain updated performance information on the Strategy's website at www.AllianceBernstein.com (click on "Individuals--U.S." then "Products & Performance").<br/><br/>The Strategy's past performance before and after taxes, of course, does not necessarily indicate how it will perform in the future. BAR CHART The annual returns in the bar chart are for the Strategy's Class A shares and do not reflect sales loads. If sales loads were reflected, returns would be less than those shown. Through September 30, 2012, the year-to-date unannualized return for Class A shares was 11.13%. 0.0094 0.0164 Calendar Year End (%)<br/><br/>During the period shown in the bar chart, the Strategy's:<br/><br/>BEST QUARTER WAS UP 18.72%, 3RD QUARTER, 2009; AND WORST QUARTER WAS DOWN -21.66%, 4TH QUARTER, 2008. 0.0164 0.0064 0.0114 0.0089 0.0064 PERFORMANCE TABLE<br/>AVERAGE ANNUAL TOTAL RETURNS<br/>(For the periods ended December 31, 2011) December 31, 2013 2005-09-01 2005-09-01 2005-09-01 2005-09-01 2005-09-01 2005-09-01 2005-09-01 2005-09-01 2005-09-01 2005-09-01 2005-09-01 2005-09-01 0 0 0 0 0 0 0 2005-09-01 2005-09-01 2005-09-01 2005-09-01 2005-09-01 2005-09-01 2005-09-01 2005-09-01 2005-09-01 2005-09-01 2005-09-01 2005-09-01 (NOT CURRENTLY OFFERED TO NEW INVESTORS) <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleShareholderFeesAllianceBernstein2045RetirementStrategy column period compact * ~</div> <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleAnnualFundOperatingExpensesAllianceBernstein2045RetirementStrategy column period compact * ~</div> You may qualify for sales charge reductions if you and members of your family invest, or agree to invest in the future, at least $100,000 in AllianceBernstein Mutual Funds. 100000 0.57 As with all investments, you may lose money by investing in the Strategy. The bar chart and performance information provide an indication of the historical risk of an investment in the Strategy by showing:<ul type="square"><li style="margin-left:-20px"> how the Strategy's performance changed from year to year over the life of the Strategy; and </li></ul><ul type="square"><li style="margin-left:-20px"> how the Strategy's average annual returns for one year and since inception compare to those of a broad-based securities market index. </li></ul> www.AllianceBernstein.com The Strategy's past performance before and after taxes, of course, does not necessarily indicate how it will perform in the future. <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleExpenseExampleAllianceBernstein2045RetirementStrategy column period compact * ~</div> The annual returns in the bar chart are for the Strategy's Class A shares and do not reflect sales loads. The Composite Benchmark reflects no deductions for fees, expenses or taxes. Are estimates based on the highest historical individual federal marginal income tax rates, and do not reflect the impact of state and local taxes Are not relevant to investors who hold Strategy shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. Are shown for Class A shares only and will vary for Class B, Class C and Advisor Class shares because these Classes have different expense ratios; year-to-date 2012-09-30 0.1113 BEST QUARTER 2009-09-30 0.1872 WORST QUARTER 2008-12-31 517 567 -0.2166 267 65 116 91 65 786 805 597 283 466 374 276 year-to-date 2012-09-30 0.0966 BEST QUARTER 1075 1070 1053 517 840 2009-09-30 678 504 0.1878 WORST QUARTER 2008-12-31 -0.2232 <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleExpenseExampleNoRedemptionAllianceBernstein2045RetirementStrategy column period compact * ~</div> (NOT CURRENTLY OFFERED TO NEW INVESTORS) 1896 <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleAnnualTotalReturnsAllianceBernstein2045RetirementStrategyBarChart column period compact * ~</div> 2161 2318 1192 1892 1542 1160 <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleAverageAnnualTotalReturnsTransposedAllianceBernstein2045RetirementStrategy column period compact * ~</div> (NOT CURRENTLY OFFERED TO NEW INVESTORS) 0.0425 0 0 0 0 0 0 0 0.04 0.01 0 0 0 0 0 0 0 0 0 0 0 ALLIANCEBERNSTEIN 2020 RETIREMENT STRATEGY INVESTMENT OBJECTIVE The Strategy's investment objective is to seek the highest total return (total return includes capital appreciation and income) over time consistent with its asset mix. FEES AND EXPENSES OF THE STRATEGY This table describes the fees and expenses that you may pay if you buy and hold shares of the Strategy. You may qualify for sales charge reductions if you and members of your family invest, or agree to invest in the future, at least $100,000 in AllianceBernstein Mutual Funds. More information about these and other discounts is available from your financial intermediary and in Investing in the Strategies--Sales Charge Reduction Programs for Class A Shares on page 72 of this Prospectus and in Purchase of Shares--Sales Charge Reduction Programs for Class A Shares on page 109 of the Strategy's SAI. 167 167 SHAREHOLDER FEES (fees paid directly from your investment) ANNUAL STRATEGY OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) EXAMPLES 605 The Examples are intended to help you compare the cost of investing in the Strategy with the cost of investing in other mutual funds. The Examples assume that you invest $10,000 in the Strategy for the time periods indicated and then redeem all of your shares at the end of those periods. The Examples also assume that your investment has a 5% return each year, that the Strategy's operating expenses stay the same and that the fee waiver is in effect only for the first year. Although your actual costs may be higher or lower, based on these assumptions your costs would be: 597 1070 1053 PORTFOLIO TURNOVER The Strategy (or an Underlying Portfolio) pays transaction costs, such as commissions, when it buys or sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Strategy shares are held in a taxable account. These transaction costs, which are not reflected in the Annual Strategy Operating Expenses or in the Examples, affect the Strategy's performance. During the most recent fiscal year, the Strategy's portfolio turnover rate (which reflects only purchases and sales of the Underlying Portfolios) was 17% of the average value of its portfolio. 2161 2318 PRINCIPAL STRATEGIES: The Strategy seeks the highest total return over time consistent with its asset mix. Total return includes capital growth and income. To achieve its investment objective, the Strategy invests in a combination of portfolios of The AllianceBernstein Pooling Portfolios representing a variety of asset classes and investment styles (the "Underlying Portfolios"). The Strategy is managed to the specific year of planned retirement included in its name (the "retirement date"). The Strategy's asset mixes will become more conservative each year until reaching the year approximately fifteen years after the retirement date (the "target year") at which time the asset allocation mix will become static. This reflects the objective of pursuing the maximum amount of capital growth, consistent with a reasonable amount of risk, during the investor's pre-retirement and early retirement years. After retirement the Strategy's investment mix anticipates that an investor may take withdrawals from his or her account to provide supplemental retirement income.<br/><br/> After the retirement date of the Strategy, its asset mix seeks to minimize the likelihood that an investor in the Strategy experiences a significant loss of capital at a more advanced age. The asset mix for the Strategy will continue to change after the Strategy's retirement date with an increasing exposure to investments in fixed-income securities and short-term bonds until fifteen years after the Strategy's retirement date. Thereafter, the target asset allocation for the Strategy will generally be fixed. The static allocation of the Strategy's asset mix will be 27.5% short-duration bonds, 37.5% other fixed-income securities, 12.5% Volatility Management Portfolio, 15.5% other equities and 7% Multi-Asset Real Return Portfolio.<br/><br/>The Underlying Portfolios will include a Portfolio, the Volatility Management Portfolio, that is designed to reduce the overall effect of equity market volatility on the Strategy and the effects of adverse equity market conditions on its performance. The Volatility Management Portfolio will be a component of the Strategy's equity asset allocation. Under normal market conditions, this Underlying Portfolio will invest predominantly in equity securities. If the Adviser determines that the equity markets pose disproportionate risks, the Adviser will reduce (or eliminate) this Underlying Portfolio's equity investments and invest in fixed-income securities or other non-equity asset classes to reduce the risks of the Strategy's investments in equity securities.<br/><br/>The Adviser will allow the relative weightings of the Strategy's asset classes to vary in response to the markets, but ordinarily only by plus/minus 5%. Beyond those ranges, the Adviser will generally rebalance the portfolio toward the target asset allocation for the Strategy. However, there may be occasions when those ranges will expand to 10% of the Strategy's portfolio due to, among other things, appreciation of one of the asset classes.<br/><br/>The following chart illustrates how the asset mix of the Strategy will vary over time. In general, the asset mix of the Strategy will gradually shift from one comprised largely of Underlying Portfolios that emphasize investments in stocks to one that is comprised of a mixture of Underlying Portfolios that invest in bonds (including short-duration bonds) and stocks.<br/><br/> <div> <table style="width: 389pt; border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="518"><tr style="height: 15.75pt;"> <td style="background-color: transparent; width: 110pt; height: 15.75pt;" class="xl65" height="21" width="147"> </td> <td style="background-color: transparent; width: 59pt;" width="78"> </td> <td style="background-color: transparent; width: 48pt;" width="64"> </td> <td style="background-color: transparent; width: 172pt;" class="xl67" width="229" colspan="3">Years Before Retirement</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;" align="right">45</td> <td style="background-color: transparent;" align="right">40</td> <td style="background-color: transparent;" align="right">35</td> <td style="background-color: transparent;" align="right">30</td> <td style="background-color: transparent;" align="right">25</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Diversified Value</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">19.50%</td> <td style="background-color: transparent;" class="xl66" align="right">18.25%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Large Cap Growth</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">19.50%</td> <td style="background-color: transparent;" class="xl66" align="right">18.25%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Value</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Growth</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Value</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">17.00%</td> <td style="background-color: transparent;" class="xl66" align="right">16.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Growth</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">17.00%</td> <td style="background-color: transparent;" class="xl66" align="right">16.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Multi-Asset Real Return</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Volatility Management</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">10.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">High Yield</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Global Bonds</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Inflation-Protected</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">    Securities</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Short Duration Bonds</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl67" colspan="3">Years Before Retirement</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" align="right">20</td> <td style="background-color: transparent;" align="right">15</td> <td style="background-color: transparent;" align="right">10</td> <td style="background-color: transparent;" align="right">5</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Diversified Value</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">16.25%</td> <td style="background-color: transparent;" class="xl66" align="right">13.75%</td> <td style="background-color: transparent;" class="xl66" align="right">11.25%</td> <td style="background-color: transparent;" class="xl66" align="right">9.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Large Cap Growth</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">16.25%</td> <td style="background-color: transparent;" class="xl66" align="right">13.75%</td> <td style="background-color: transparent;" class="xl66" align="right">11.25%</td> <td style="background-color: transparent;" class="xl66" align="right">9.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Value</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">4.25%</td> <td style="background-color: transparent;" class="xl66" align="right">3.50%</td> <td style="background-color: transparent;" class="xl66" align="right">2.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Growth</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">4.25%</td> <td style="background-color: transparent;" class="xl66" align="right">3.50%</td> <td style="background-color: transparent;" class="xl66" align="right">2.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Value</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">14.00%</td> <td style="background-color: transparent;" class="xl66" align="right">12.00%</td> <td style="background-color: transparent;" class="xl66" align="right">9.75%</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Growth</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">14.00%</td> <td style="background-color: transparent;" class="xl66" align="right">12.00%</td> <td style="background-color: transparent;" class="xl66" align="right">9.75%</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Multi-Asset Real Return</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td> <td style="background-color: transparent;" class="xl66" align="right">10.00%</td> <td style="background-color: transparent;" class="xl66" align="right">10.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Volatility Management</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">12.50%</td> <td style="background-color: transparent;" class="xl66" align="right">17.50%</td> <td style="background-color: transparent;" class="xl66" align="right">20.00%</td> <td style="background-color: transparent;" class="xl66" align="right">20.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">High Yield</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Global Bonds</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">10.00%</td> <td style="background-color: transparent;" class="xl66" align="right">12.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Inflation-Protected</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">    Securities</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td> <td style="background-color: transparent;" class="xl66" align="right">9.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Short Duration Bonds</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;" class="xl67" colspan="2">Retirement Date</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl67" colspan="2">Years After Retirement</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;" align="right">0</td> <td style="background-color: transparent;" align="right">5</td> <td style="background-color: transparent;" align="right">10</td> <td style="background-color: transparent;" align="right">15</td> <td style="background-color: transparent;" align="right">20</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Diversified Value</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.45%</td> <td style="background-color: transparent;" class="xl66" align="right">5.25%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Large Cap Growth</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.45%</td> <td style="background-color: transparent;" class="xl66" align="right">5.25%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Value</td> <td style="background-color: transparent;" class="xl66" align="right">2.00%</td> <td style="background-color: transparent;" class="xl66" align="right">1.50%</td> <td style="background-color: transparent;" class="xl66" align="right">1.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.75%</td> <td style="background-color: transparent;" class="xl66" align="right">0.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Growth</td> <td style="background-color: transparent;" class="xl66" align="right">2.00%</td> <td style="background-color: transparent;" class="xl66" align="right">1.50%</td> <td style="background-color: transparent;" class="xl66" align="right">1.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.75%</td> <td style="background-color: transparent;" class="xl66" align="right">0.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Value</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td> <td style="background-color: transparent;" class="xl66" align="right">3.00%</td> <td style="background-color: transparent;" class="xl66" align="right">3.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Growth</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.30%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td> <td style="background-color: transparent;" class="xl66" align="right">3.00%</td> <td style="background-color: transparent;" class="xl66" align="right">3.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Multi-Asset Real Return</td> <td style="background-color: transparent;" class="xl66" align="right">10.00%</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Volatility Management</td> <td style="background-color: transparent;" class="xl66" align="right">20.00%</td> <td style="background-color: transparent;" class="xl66" align="right">20.00%</td> <td style="background-color: transparent;" class="xl66" align="right">17.50%</td> <td style="background-color: transparent;" class="xl66" align="right">12.50%</td> <td style="background-color: transparent;" class="xl66" align="right">12.50%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">High Yield</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">2.50%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Global Bonds</td> <td style="background-color: transparent;" class="xl66" align="right">14.00%</td> <td style="background-color: transparent;" class="xl66" align="right">16.00%</td> <td style="background-color: transparent;" class="xl66" align="right">19.50%</td> <td style="background-color: transparent;" class="xl66" align="right">22.50%</td> <td style="background-color: transparent;" class="xl66" align="right">22.50%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Inflation-Protected</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">    Securities</td> <td style="background-color: transparent;" class="xl66" align="right">14.00%</td> <td style="background-color: transparent;" class="xl66" align="right">15.00%</td> <td style="background-color: transparent;" class="xl66" align="right">15.00%</td> <td style="background-color: transparent;" class="xl66" align="right">15.00%</td> <td style="background-color: transparent;" class="xl66" align="right">15.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Short Duration Bonds</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">9.00%</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">27.50%</td> <td style="background-color: transparent;" class="xl66" align="right">27.50%</td></tr></table></div> PRINCIPAL RISKS The value of your investment in the Strategy will change with changes in the values of the Strategy's investments in the Underlying Portfolios. There is no assurance that the Strategy will provide an investor with adequate income at or through retirement. The degree to which the following risks apply varies according to the Strategy's asset allocation.<ul type="square"><li style="margin-left: -20px">MARKET RISK: The value of the Strategy's investments will fluctuate as the stock or bond market fluctuates. The value of its investments may decline, sometimes rapidly and unpredictably, simply because of economic changes or other events that affect large portions of the market. It includes the risk that a particular style of investing, such as growth or value, may be underperforming the stock market generally.</li></ul><ul type="square"><li style="margin-left: -20px">INTEREST RATE RISK: Changes in interest rates will affect the value of the Strategy's investments in Underlying Portfolios that invest in fixed-income securities. When interest rates rise, the value of investments in fixed-income securities tends to fall and this decrease in value may not be offset by higher income from new investments. Interest rate risk is generally greater for fixed-income securities with longer maturities or durations. Investments in fixed-income securities with lower credit ratings ("junk bonds") tend to have a higher probability that an issuer will default or fail to meet its payment obligations.</li></ul><ul type="square"><li style="margin-left: -20px">CREDIT RISK: An issuer or guarantor of a fixed-income security, or the counterparty to a derivatives or other contract, may be unable or unwilling to make timely payments of interest or principal, or to otherwise honor its obligations. The issuer or guarantor may default, causing a loss of the full principal amount of a security. The degree of risk for a particular security may be reflected in its credit rating. There is the possibility that the credit rating of a fixed-income security may be downgraded after purchase, which may adversely affect the value of the security. Investments in fixed-income securities with lower ratings tend to have a higher probability that an issuer will default or fail to meet its payment obligations.</li></ul><ul type="square"><li style="margin-left: -20px">ALLOCATION RISK: The allocation of investments among the Underlying Portfolios' different investment styles, such as growth or value, equity or debt securities, or U.S. or non-U.S. securities, may have a more significant effect on the Strategy's NAV when one of these investments is performing more poorly than the other.</li></ul><ul type="square"><li style="margin-left: -20px">INFLATION RISK: This is the risk that the value of assets or income from the Strategy's investments in the Underlying Portfolios will be less in the future as inflation decreases the value of money. As inflation increases, the value of each Underlying Portfolio's assets can decline as can the value of that Underlying Portfolio's distributions.</li></ul><ul type="square"><li style="margin-left: -20px">FOREIGN (NON-U.S.) RISK: The Strategy's investments in Underlying Portfolios that invest in securities of non-U.S. issuers may experience more rapid and extreme changes in value than investments in securities of U.S. issuers. These securities may fluctuate more widely in price and may be less liquid due to adverse market, economic, political, regulatory or other factors. This risk is greater when the Strategy has a higher asset allocation of Underlying Portfolios that invest in non-U.S. issuers.</li></ul><ul type="square"><li style="margin-left: -20px">EMERGING MARKET RISK: Investments in emerging market countries may involve more risk than investments in other foreign countries because the markets in emerging market countries are less developed and less liquid as well as subject to increased economic, political, regulatory and other uncertainties.</li></ul><ul type="square"><li style="margin-left: -20px">CURRENCY RISK: Fluctuations in currency exchange rates may negatively affect the value of the Strategy's investments or reduce its returns.</li></ul><ul type="square"><li style="margin-left: -20px">CAPITALIZATION RISK: Investments in small- and mid-capitalization companies by Underlying Portfolios tend to be more volatile than investments in large-capitalization companies. Investments in small-capitalization companies may have additional risks because these companies often have limited product lines, markets, or financial resources.</li></ul><ul type="square"><li style="margin-left: -20px">FOCUSED PORTFOLIO RISK: The Underlying Portfolios that invest in a limited number of companies may have more risk because changes in the value of a single security may have a more significant effect, either negative or positive, on the Strategy's NAV.</li></ul><ul type="square"><li style="margin-left: -20px">DERIVATIVES RISK: Investments in derivatives may be illiquid, difficult to price, and leveraged so that small changes may produce disproportionate losses, and may be subject to counterparty risk to a greater degree than more traditional investments.</li></ul><ul type="square"><li style="margin-left: -20px">LEVERAGE RISK: Borrowing money or other leverage may make an Underlying Portfolio's investments more volatile because leverage tends to exaggerate the effect of any increase or decrease in the value of its investments. An Underlying Portfolio may create leverage through the use of certain portfolio management techniques such as reverse repurchase agreements or forward commitments, or by borrowing money.</li></ul><ul type="square"><li style="margin-left: -20px">MANAGEMENT RISK: The Strategy is subject to management risk because it is an actively managed investment fund. The Adviser will apply its investment techniques and risk analyses in making investment decisions for the Strategy, but there is no guarantee that its techniques will produce the intended results.</li></ul> As with all investments, you may lose money by investing in the Strategy. BAR CHART The annual returns in the bar chart are for the Strategy's Class A shares and do not reflect sales loads. If sales loads were reflected, returns would be less than those shown. Through September 30, 2012, the year-to-date unannualized return for Class A shares was 8.43%. 0.0065 0.0065 Calendar Year End (%)<br/><br/>During the period shown in the bar chart, the Strategy's:<br/><br/>BEST QUARTER WAS UP 17.87%, 2ND QUARTER, 2009; AND WORST QUARTER WAS DOWN -20.86%, 4TH QUARTER, 2008. 0.0065 0.1397 0.0065 0.0065 0.0065 0.0065 0.0565 -0.3288 0.2924 BAR CHART AND PERFORMANCE INFORMATION 0.1202 PERFORMANCE TABLE<br/>AVERAGE ANNUAL TOTAL RETURNS <br/>(For the periods ended December 31, 2011) -0.0155 December 31, 2013 0.17 You may qualify for sales charge reductions if you and members of your family invest, or agree to invest in the future, at least $100,000 in AllianceBernstein Mutual Funds. -0.0577 -0.0644 -0.0352 -0.0605 -0.0324 -0.0137 -0.0178 -0.0149 -0.0134 0.1613 0.0551 0.1012 -0.0065 -0.0157 -0.0095 -0.0048 -0.005 0.0051 0 0.0026 0.005 0.0134 0.0604 0.0188 0.0217 0.0131 0.0147 0.0215 0.0213 0.0315 0.0265 0.0291 0.0316 0.0424 0.0559 0.0484 2005-09-01 2005-09-01 2005-09-01 2005-09-01 2005-09-01 2005-09-01 2005-09-01 2005-09-01 2005-09-01 2005-09-01 2005-09-01 2005-09-01 100000 As with all investments, you may lose money by investing in the Strategy. The bar chart and performance information provide an indication of the historical risk of an investment in the Strategy by showing: <ul type="square"><li style="margin-left: -20px">how the Strategy's performance changed from year to year over the life of the Strategy; and </li></ul><ul type="square"><li style="margin-left: -20px">how the Strategy's average annual returns for one and five years and since inception compare to those of a broad-based securities market index.</li></ul> www.AllianceBernstein.com The Strategy's past performance before and after taxes, of course, does not necessarily indicate how it will perform in the future. The annual returns in the bar chart are for the Strategy's Class A shares and do not reflect sales loads. The Composite Benchmark reflects no deductions for fees, expenses or taxes. Are estimates based on the highest historical individual federal marginal income tax rates, and do not reflect the impact of state and local taxes Are not relevant to investors who hold Strategy shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. Are shown for Class A shares only and will vary for Class B, Class C and Advisor Class shares because these Classes have different expense ratios; BEST QUARTER 2009-06-30 0.1787 WORST QUARTER 2008-12-31 -0.2086 year-to-date 2012-09-30 0.0843 <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleShareholderFeesAllianceBernstein2020RetirementStrategy column period compact * ~</div> <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleAnnualFundOperatingExpensesAllianceBernstein2020RetirementStrategy column period compact * ~</div> 0.003 0.01 0.01 0 0.005 0.0025 0 0.0071 0.005 0.0056 0.0049 0.0026 0.002 0.0006 0.0142 0.0143 0.0142 0.0136 0.0142 0.014 0.0146 <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleExpenseExampleAllianceBernstein2020RetirementStrategy column period compact * ~</div> 0.0191 0.0199 0.0192 0.0207 0.0168 0.016 0.0152 <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleExpenseExampleNoRedemptionAllianceBernstein2020RetirementStrategy column period compact * ~</div> 0.0003 0.0003 0.0003 0.0003 0.0003 0.0003 0.0003 0.0289 0.0367 0.036 0.0275 0.0286 0.0253 0.022 -0.0183 -0.0191 -0.0184 -0.0199 -0.016 -0.0152 -0.0144 <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleAnnualTotalReturnsAllianceBernstein2020RetirementStrategyBarChart column period compact * ~</div> 0.0106 0.0176 0.0176 0.0076 0.0126 0.0101 0.0076 <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleAverageAnnualTotalReturnsTransposedAllianceBernstein2020RetirementStrategy column period compact * ~</div> year-to-date 2012-09-30 0.0737 BEST QUARTER 2009-09-30 0.1571 WORST QUARTER 2008-12-31 -0.1788 ALLIANCEBERNSTEIN 2040 RETIREMENT STRATEGY INVESTMENT OBJECTIVE The Strategy’s investment objective is to seek the highest total return (total return includes capital appreciation and income) over time consistent with its asset mix. FEES AND EXPENSES OF THE STRATEGY This table describes the fees and expenses that you may pay if you buy and hold shares of the Strategy. You may qualify for sales charge reductions if you and members of your family invest, or agree to invest in the future, at least $100,000 in AllianceBernstein Mutual Funds. More information about these and other discounts is available from your financial intermediary and in Investing in the Strategies--Sales Charge Reduction Programs for Class A Shares on page 72 of this Prospectus and in Purchase of Shares--Sales Charge Reduction Programs for Class A Shares on page 109 of the Strategy’s SAI. SHAREHOLDER FEES (fees paid directly from your investment) ANNUAL STRATEGY OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) PORTFOLIO TURNOVER The Strategy (or an Underlying Portfolio) pays transaction costs, such as commissions, when it buys or sells securities (or &#8220turns over&#8221 its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Strategy shares are held in a taxable account. These transaction costs, which are not reflected in the Annual Strategy Operating Expenses or in the Examples, affect the Strategy’s performance. During the most recent fiscal year, the Strategy’s portfolio turnover rate (which reflects only purchases and sales of the Underlying Portfolios) was 25% of the average value of its portfolio. EXAMPLES The Examples are intended to help you compare the cost of investing in the Strategy with the cost of investing in other mutual funds. The Examples assume that you invest $10,000 in the Strategy for the time periods indicated and then redeem all of your shares at the end of those periods. The Examples also assume that your investment has a 5% return each year, that the Strategy’s operating expenses stay the same and that the fee waiver is in effect only for the first year. Although your actual costs may be higher or lower, based on these assumptions your costs would be: For the share classes listed below, you would pay the following expenses if you did not redeem your shares at the end of the period: PRINCIPAL STRATEGIES: The Strategy seeks the highest total return over time consistent with its asset mix. Total return includes capital growth and income. To achieve its investment objective, the Strategy invests in a combination of portfolios of The AllianceBernstein Pooling Portfolios representing a variety of asset classes and investment styles (the "Underlying Portfolios"). The Strategy is managed to the specific year of planned retirement included in its name (the "retirement date"). The Strategy's asset mixes will become more conservative each year until reaching the year approximately fifteen years after the retirement date (the "target year") at which time the asset allocation mix will become static. This reflects the objective of pursuing the maximum amount of capital growth, consistent with a reasonable amount of risk, during the investor's pre-retirement and early retirement years. After retirement the Strategy's investment mix anticipates that an investor may take withdrawals from his or her account to provide supplemental retirement income.<br/><br/> After the retirement date of the Strategy, its asset mix seeks to minimize the likelihood that an investor in the Strategy experiences a significant loss of capital at a more advanced age. The asset mix for the Strategy will continue to change after the Strategy's retirement date with an increasing exposure to investments in fixed-income securities and short-term bonds until fifteen years after the Strategy's retirement date. Thereafter, the target asset allocation for the Strategy will generally be fixed. The static allocation of the Strategy's asset mix will be 27.5% short-duration bonds, 37.5% other fixed-income securities, 12.5% Volatility Management Portfolio, 15.5% other equities and 7% Multi-Asset Real Return Portfolio.<br/><br/>The Underlying Portfolios will include a Portfolio, the Volatility Management Portfolio, that is designed to reduce the overall effect of equity market volatility on the Strategy and the effects of adverse equity market conditions on its performance. The Volatility Management Portfolio will be a component of the Strategy's equity asset allocation. Under normal market conditions, this Underlying Portfolio will invest predominantly in equity securities. If the Adviser determines that the equity markets pose disproportionate risks, the Adviser will reduce (or eliminate) this Underlying Portfolio's equity investments and invest in fixed-income securities or other non-equity asset classes to reduce the risks of the Strategy's investments in equity securities.<br/><br/>The Adviser will allow the relative weightings of the Strategy's asset classes to vary in response to the markets, but ordinarily only by plus/minus 5%. Beyond those ranges, the Adviser will generally rebalance the portfolio toward the target asset allocation for the Strategy. However, there may be occasions when those ranges will expand to 10% of the Strategy's portfolio due to, among other things, appreciation of one of the asset classes.<br/><br/>The following chart illustrates how the asset mix of the Strategy will vary over time. In general, the asset mix of the Strategy will gradually shift from one comprised largely of Underlying Portfolios that emphasize investments in stocks to one that is comprised of a mixture of Underlying Portfolios that invest in bonds (including short-duration bonds) and stocks.<br/><br/><div> <table style="width: 389pt; border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="518"><tr style="height: 15.75pt;"> <td style="background-color: transparent; width: 110pt; height: 15.75pt;" class="xl65" height="21" width="147"> </td> <td style="background-color: transparent; width: 59pt;" width="78"> </td> <td style="background-color: transparent; width: 48pt;" width="64"> </td> <td style="background-color: transparent; width: 172pt;" class="xl67" width="229" colspan="3">Years Before Retirement</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;" align="right">45</td> <td style="background-color: transparent;" align="right">40</td> <td style="background-color: transparent;" align="right">35</td> <td style="background-color: transparent;" align="right">30</td> <td style="background-color: transparent;" align="right">25</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Diversified Value</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">19.50%</td> <td style="background-color: transparent;" class="xl66" align="right">18.25%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Large Cap Growth</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">19.50%</td> <td style="background-color: transparent;" class="xl66" align="right">18.25%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Value</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Growth</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Value</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">17.00%</td> <td style="background-color: transparent;" class="xl66" align="right">16.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Growth</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">17.00%</td> <td style="background-color: transparent;" class="xl66" align="right">16.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Multi-Asset Real Return</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Volatility Management</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">10.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">High Yield</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Global Bonds</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Inflation-Protected</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">    Securities</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Short Duration Bonds</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl67" colspan="3">Years Before Retirement</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" align="right">20</td> <td style="background-color: transparent;" align="right">15</td> <td style="background-color: transparent;" align="right">10</td> <td style="background-color: transparent;" align="right">5</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Diversified Value</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">16.25%</td> <td style="background-color: transparent;" class="xl66" align="right">13.75%</td> <td style="background-color: transparent;" class="xl66" align="right">11.25%</td> <td style="background-color: transparent;" class="xl66" align="right">9.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Large Cap Growth</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">16.25%</td> <td style="background-color: transparent;" class="xl66" align="right">13.75%</td> <td style="background-color: transparent;" class="xl66" align="right">11.25%</td> <td style="background-color: transparent;" class="xl66" align="right">9.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Value</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">4.25%</td> <td style="background-color: transparent;" class="xl66" align="right">3.50%</td> <td style="background-color: transparent;" class="xl66" align="right">2.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Growth</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">4.25%</td> <td style="background-color: transparent;" class="xl66" align="right">3.50%</td> <td style="background-color: transparent;" class="xl66" align="right">2.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Value</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">14.00%</td> <td style="background-color: transparent;" class="xl66" align="right">12.00%</td> <td style="background-color: transparent;" class="xl66" align="right">9.75%</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Growth</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">14.00%</td> <td style="background-color: transparent;" class="xl66" align="right">12.00%</td> <td style="background-color: transparent;" class="xl66" align="right">9.75%</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Multi-Asset Real Return</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td> <td style="background-color: transparent;" class="xl66" align="right">10.00%</td> <td style="background-color: transparent;" class="xl66" align="right">10.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Volatility Management</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">12.50%</td> <td style="background-color: transparent;" class="xl66" align="right">17.50%</td> <td style="background-color: transparent;" class="xl66" align="right">20.00%</td> <td style="background-color: transparent;" class="xl66" align="right">20.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">High Yield</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Global Bonds</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">10.00%</td> <td style="background-color: transparent;" class="xl66" align="right">12.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Inflation-Protected</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">    Securities</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td> <td style="background-color: transparent;" class="xl66" align="right">9.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Short Duration Bonds</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;" class="xl67" colspan="2">Retirement Date</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl67" colspan="2">Years After Retirement</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;" align="right">0</td> <td style="background-color: transparent;" align="right">5</td> <td style="background-color: transparent;" align="right">10</td> <td style="background-color: transparent;" align="right">15</td> <td style="background-color: transparent;" align="right">20</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Diversified Value</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.45%</td> <td style="background-color: transparent;" class="xl66" align="right">5.25%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Large Cap Growth</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.45%</td> <td style="background-color: transparent;" class="xl66" align="right">5.25%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Value</td> <td style="background-color: transparent;" class="xl66" align="right">2.00%</td> <td style="background-color: transparent;" class="xl66" align="right">1.50%</td> <td style="background-color: transparent;" class="xl66" align="right">1.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.75%</td> <td style="background-color: transparent;" class="xl66" align="right">0.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Growth</td> <td style="background-color: transparent;" class="xl66" align="right">2.00%</td> <td style="background-color: transparent;" class="xl66" align="right">1.50%</td> <td style="background-color: transparent;" class="xl66" align="right">1.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.75%</td> <td style="background-color: transparent;" class="xl66" align="right">0.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Value</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td> <td style="background-color: transparent;" class="xl66" align="right">3.00%</td> <td style="background-color: transparent;" class="xl66" align="right">3.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Growth</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.30%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td> <td style="background-color: transparent;" class="xl66" align="right">3.00%</td> <td style="background-color: transparent;" class="xl66" align="right">3.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Multi-Asset Real Return</td> <td style="background-color: transparent;" class="xl66" align="right">10.00%</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Volatility Management</td> <td style="background-color: transparent;" class="xl66" align="right">20.00%</td> <td style="background-color: transparent;" class="xl66" align="right">20.00%</td> <td style="background-color: transparent;" class="xl66" align="right">17.50%</td> <td style="background-color: transparent;" class="xl66" align="right">12.50%</td> <td style="background-color: transparent;" class="xl66" align="right">12.50%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">High Yield</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">2.50%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Global Bonds</td> <td style="background-color: transparent;" class="xl66" align="right">14.00%</td> <td style="background-color: transparent;" class="xl66" align="right">16.00%</td> <td style="background-color: transparent;" class="xl66" align="right">19.50%</td> <td style="background-color: transparent;" class="xl66" align="right">22.50%</td> <td style="background-color: transparent;" class="xl66" align="right">22.50%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Inflation-Protected</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">    Securities</td> <td style="background-color: transparent;" class="xl66" align="right">14.00%</td> <td style="background-color: transparent;" class="xl66" align="right">15.00%</td> <td style="background-color: transparent;" class="xl66" align="right">15.00%</td> <td style="background-color: transparent;" class="xl66" align="right">15.00%</td> <td style="background-color: transparent;" class="xl66" align="right">15.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Short Duration Bonds</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">9.00%</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">27.50%</td> <td style="background-color: transparent;" class="xl66" align="right">27.50%</td></tr></table></div> PRINCIPAL RISKS The value of your investment in the Strategy will change with changes in the values of the Strategy's investments in the Underlying Portfolios. There is no assurance that the Strategy will provide an investor with adequate income at or through retirement. The degree to which the following risks apply varies according to the Strategy's asset allocation.<ul type="square"><li style="margin-left: -20px">MARKET RISK: The value of the Strategy's investments will fluctuate as the stock or bond market fluctuates. The value of its investments may decline, sometimes rapidly and unpredictably, simply because of economic changes or other events that affect large portions of the market. It includes the risk that a particular style of investing, such as growth or value, may be underperforming the stock market generally.</li></ul><ul type="square"><li style="margin-left: -20px">INTEREST RATE RISK: Changes in interest rates will affect the value of the Strategy's investments in Underlying Portfolios that invest in fixed-income securities. When interest rates rise, the value of investments in fixed-income securities tends to fall and this decrease in value may not be offset by higher income from new investments. Interest rate risk is generally greater for fixed-income securities with longer maturities or durations. Investments in fixed-income securities with lower credit ratings ("junk bonds") tend to have a higher probability that an issuer will default or fail to meet its payment obligations.</li></ul><ul type="square"><li style="margin-left: -20px">CREDIT RISK: An issuer or guarantor of a fixed-income security, or the counterparty to a derivatives or other contract, may be unable or unwilling to make timely payments of interest or principal, or to otherwise honor its obligations. The issuer or guarantor may default, causing a loss of the full principal amount of a security. The degree of risk for a particular security may be reflected in its credit rating. There is the possibility that the credit rating of a fixed-income security may be downgraded after purchase, which may adversely affect the value of the security. Investments in fixed-income securities with lower ratings tend to have a higher probability that an issuer will default or fail to meet its payment obligations.</li></ul><ul type="square"><li style="margin-left: -20px">ALLOCATION RISK: The allocation of investments among the Underlying Portfolios' different investment styles, such as growth or value, equity or debt securities, or U.S. or non-U.S. securities, may have a more significant effect on the Strategy's NAV when one of these investments is performing more poorly than the other.</li></ul><ul type="square"><li style="margin-left: -20px">INFLATION RISK: This is the risk that the value of assets or income from the Strategy's investments in the Underlying Portfolios will be less in the future as inflation decreases the value of money. As inflation increases, the value of each Underlying Portfolio's assets can decline as can the value of that Underlying Portfolio's distributions.</li></ul><ul type="square"><li style="margin-left: -20px">FOREIGN (NON-U.S.) RISK: The Strategy's investments in Underlying Portfolios that invest in securities of non-U.S. issuers may experience more rapid and extreme changes in value than investments in securities of U.S. issuers. These securities may fluctuate more widely in price and may be less liquid due to adverse market, economic, political, regulatory or other factors. This risk is greater when the Strategy has a higher asset allocation of Underlying Portfolios that invest in non-U.S. issuers.</li></ul><ul type="square"><li style="margin-left: -20px">EMERGING MARKET RISK: Investments in emerging market countries may involve more risk than investments in other foreign countries because the markets in emerging market countries are less developed and less liquid as well as subject to increased economic, political, regulatory and other uncertainties.</li></ul><ul type="square"><li style="margin-left: -20px">CURRENCY RISK: Fluctuations in currency exchange rates may negatively affect the value of the Strategy's investments or reduce its returns.</li></ul><ul type="square"><li style="margin-left: -20px">CAPITALIZATION RISK: Investments in small- and mid-capitalization companies by Underlying Portfolios tend to be more volatile than investments in large-capitalization companies. Investments in small-capitalization companies may have additional risks because these companies often have limited product lines, markets, or financial resources.</li></ul><ul type="square"><li style="margin-left: -20px">FOCUSED PORTFOLIO RISK: The Underlying Portfolios that invest in a limited number of companies may have more risk because changes in the value of a single security may have a more significant effect, either negative or positive, on the Strategy's NAV.</li></ul><ul type="square"><li style="margin-left: -20px">DERIVATIVES RISK: Investments in derivatives may be illiquid, difficult to price, and leveraged so that small changes may produce disproportionate losses, and may be subject to counterparty risk to a greater degree than more traditional investments.</li></ul><ul type="square"><li style="margin-left: -20px">LEVERAGE RISK: Borrowing money or other leverage may make an Underlying Portfolio's investments more volatile because leverage tends to exaggerate the effect of any increase or decrease in the value of its investments. An Underlying Portfolio may create leverage through the use of certain portfolio management techniques such as reverse repurchase agreements or forward commitments, or by borrowing money.</li></ul><ul type="square"><li style="margin-left: -20px">MANAGEMENT RISK: The Strategy is subject to management risk because it is an actively managed investment fund. The Adviser will apply its investment techniques and risk analyses in making investment decisions for the Strategy, but there is no guarantee that its techniques will produce the intended results.</li></ul> As with all investments, you may lose money by investing in the Strategy. BAR CHART AND PERFORMANCE INFORMATION The bar chart and performance information provide an indication of the historical risk of an investment in the Strategy by showing: <ul type="square"><li style="margin-left: -20px">how the Strategy's performance changed from year to year over the life of the Strategy; and </li></ul><ul type="square"><li style="margin-left: -20px">how the Strategy's average annual returns for one and five years and since inception compare to those of a broad-based securities market index.</li></ul>You may obtain updated performance information on the Strategy's website at www.AllianceBernstein.com (click on "Individuals--U.S." then "Products & Performance"). <br/><br/>The Strategy's past performance before and after taxes, of course, does not necessarily indicate how it will perform in the future. BAR CHART The annual returns in the bar chart are for the Strategy's Class A shares and do not reflect sales loads. If sales loads were reflected, returns would be less than those shown. Through September 30, 2012, the year-to-date unannualized return for Class A shares was 10.31%. Calendar Year End (%)<br/><br/>During the period shown in the bar chart, the Strategy's:<br/><br/>BEST QUARTER WAS UP 18.62%, 3RD QUARTER, 2009; AND WORST QUARTER WAS DOWN -22.39%, 4TH QUARTER, 2008. PERFORMANCE TABLE<br/>AVERAGE ANNUAL TOTAL RETURNS <br/>(For the periods ended December 31, 2011) December 31, 2013 You may qualify for sales charge reductions if you and members of your family invest, or agree to invest in the future, at least $100,000 in AllianceBernstein Mutual Funds. 100000 0.25 As with all investments, you may lose money by investing in the Strategy. The bar chart and performance information provide an indication of the historical risk of an investment in the Strategy by showing: <ul type="square"><li style="margin-left: -20px">how the Strategy's performance changed from year to year over the life of the Strategy; and </li></ul><ul type="square"><li style="margin-left: -20px">how the Strategy's average annual returns for one and five years and since inception compare to those of a broad-based securities market index.</li></ul> www.AllianceBernstein.com The Strategy's past performance before and after taxes, of course, does not necessarily indicate how it will perform in the future. The annual returns in the bar chart are for the Strategy's Class A shares and do not reflect sales loads. The Composite Benchmark reflects no deductions for fees, expenses or taxes. Are estimates based on the highest historical individual federal marginal income tax rates, and do not reflect the impact of state and local taxes Are not relevant to investors who hold Strategy shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. Are shown for Class A shares only and will vary for Class B, Class C and Advisor Class shares because these Classes have different expense ratios; year-to-date 2012-09-30 0.1031 BEST QUARTER 2009-09-30 0.1862 WORST QUARTER 2008-12-31 -0.2239 0.0425 0 0 0 0 0 0 0 0 0 0 0.01 0.04 0 0 0 0 0 0 0 0 0.0065 0.0065 0.0065 0.0065 0.0065 0.0065 0.0065 0.003 0.01 0.01 0 0.005 0.0025 0 0.0031 0.0037 0.004 0.0031 0.0025 0.0017 0.0007 0.0021 0.0021 0.0021 0.0021 0.0021 0.0021 0.0021 0.0052 0.0058 0.0061 0.0052 0.0046 0.0038 0.0028 0.0003 0.0003 0.0003 0.0003 0.0003 0.0003 0.0003 0.015 0.0226 0.0229 0.012 0.0164 0.0131 0.0096 -0.0044 -0.005 -0.0053 -0.0044 -0.0038 -0.003 -0.002 0.0106 0.0176 0.0176 0.0076 0.0126 0.0101 0.0076 528 579 279 78 128 103 78 838 858 665 337 480 386 286 1169 1165 1177 617 856 689 511 2103 2364 2585 1416 1912 1553 1160 0.0425 0 0 0 0 0 0 (NOT CURRENTLY OFFERED TO NEW INVESTORS) 0 0 0 0 0.01 0.04 0 179 179 0 0 0 0 0 0 0 658 665 1165 1177 2364 2585 0.1778 0.0561 -0.4135 0.3155 0.1256 -0.0771 0.0065 0.0065 0.0065 0.0065 0.0065 0.0065 0.0065 0 0.0025 0.005 0 0.01 0.01 0.003 0.0005 0.0019 0.0025 0.0168 0.0157 0.0161 0.0156 0.0501 0.0526 0.053 0.0539 0.0509 0.0522 0.052 0.0506 0.0545 0.0555 0.0707 0.0666 0.0683 0.0676 0.0003 0.0003 0.0003 0.0003 0.0003 0.0003 0.0003 0.0574 0.0638 0.0673 0.0775 0.0834 0.0851 0.0774 -0.116 -0.1179 -0.0731 -0.1206 -0.092 -0.0739 -0.0791 -0.0769 -0.0742 0.1613 0.0551 0.133 -0.045 -0.0354 -0.0395 -0.0298 -0.0394 -0.0347 -0.0321 -0.0299 0.0134 0.0604 -0.0012 -0.0412 -0.0498 -0.0537 -0.0547 -0.0699 -0.0658 -0.0675 -0.0668 0.0027 -0.0012 0.0013 0.0025 0.0026 0.0125 0.0076 0.0102 0.0126 0.0424 0.0559 0.0414 0.0076 0.0101 0.0126 0.0076 0.0176 0.0176 0.0106 2005-09-01 2005-09-01 2005-09-01 2005-09-01 78 2005-09-01 2005-09-01 103 2005-09-01 2005-09-01 128 2005-09-01 2005-09-01 78 2005-09-01 2005-09-01 279 579 528 1412 1501 1649 1844 2071 2027 1265 2436 2684 2826 3136 3400 3454 3445 6663 6831 6856 6508 5943 5716 5287 179 179 1875 1844 3454 3400 6831 6856 <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleShareholderFeesAllianceBernstein2040RetirementStrategy column period compact * ~</div> <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleAnnualFundOperatingExpensesAllianceBernstein2040RetirementStrategy column period compact * ~</div> (NOT CURRENTLY OFFERED TO NEW INVESTORS) <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleExpenseExampleAllianceBernstein2040RetirementStrategy column period compact * ~</div> <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleAnnualTotalReturnsAllianceBernstein2040RetirementStrategyBarChart column period compact * ~</div> -0.4087 0.3138 0.1241 -0.0836 <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleAverageAnnualTotalReturnsTransposedAllianceBernstein2040RetirementStrategy column period compact * ~</div> -0.1221 -0.1249 -0.0758 -0.1254 -0.0991 -0.0821 -0.0856 -0.0843 -0.0811 0.1613 0.0551 0.1329 -0.0575 -0.0463 -0.0511 -0.0514 -0.0422 -0.0466 -0.044 -0.0415 0.0111 0.0663 -0.0021 -0.0536 2007-06-29 2007-06-29 2007-06-29 2007-06-29 2007-06-29 2007-06-29 2007-06-29 2007-06-29 2007-06-29 2007-06-29 2007-06-29 2007-06-29 <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleExpenseExampleNoRedemptionAllianceBernstein2040RetirementStrategy column period compact * ~</div> <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleShareholderFeesAllianceBernstien2055RetirementStrategy column period compact * ~</div> <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleAnnualFundOperatingExpensesAllianceBernstien2055RetirementStrategy column period compact * ~</div> <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleExpenseExampleAllianceBernstien2055RetirementStrategy column period compact * ~</div> <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleExpenseExampleNoRedemptionAllianceBernstien2055RetirementStrategy column period compact * ~</div> <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleAnnualTotalReturnsAllianceBernstien2055RetirementStrategyBarChart column period compact * ~</div> <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleAverageAnnualTotalReturnsTransposedAllianceBernstien2055RetirementStrategy column period compact * ~</div> ALLIANCEBERNSTEIN 2055 RETIREMENT STRATEGY INVESTMENT OBJECTIVE The Strategy's investment objective is to seek the highest total return (total return includes capital appreciation and income) over time consistent with its asset mix. FEES AND EXPENSES OF THE STRATEGY This table describes the fees and expenses that you may pay if you buy and hold shares of the Strategy. You may qualify for sales charge reductions if you and members of your family invest, or agree to invest in the future, at least $100,000 in AllianceBernstein Mutual Funds. More information about these and other discounts is available from your financial intermediary and in Investing in the Strategies--Sales Charge Reduction Programs for Class A Shares on page 72 of this Prospectus and in Purchase of Shares--Sales Charge Reduction Programs for Class A Shares on page 109 of the Strategy's SAI. SHAREHOLDER FEES (fees paid directly from your investment) ANNUAL STRATEGY OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) EXAMPLES The Examples are intended to help you compare the cost of investing in the Strategy with the cost of investing in other mutual funds. The Examples assume that you invest $10,000 in the Strategy for the time periods indicated and then redeem all of your shares at the end of those periods. The Examples also assume that your investment has a 5% return each year, that the Strategy's operating expenses stay the same and that the fee waiver is in effect only for the first year. Although your actual costs may be higher or lower, based on these assumptions your costs would be: For the share classes listed below, you would pay the following expenses if you did not redeem your shares at the end of the period: PORTFOLIO TURNOVER The Strategy (or an Underlying Portfolio) pays transaction costs, such as commissions, when it buys or sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Strategy shares are held in a taxable account. These transaction costs, which are not reflected in the Annual Strategy Operating Expenses or in the Examples, affect the Strategy's performance. During the most recent fiscal year, the Strategy's portfolio turnover rate (which reflects only purchases and sales of the Underlying Portfolios) was 46% of the average value of its portfolio. PRINCIPAL STRATEGIES: The Strategy seeks the highest total return over time consistent with its asset mix. Total return includes capital growth and income. To achieve its investment objective, the Strategy invests in a combination of portfolios of The AllianceBernstein Pooling Portfolios representing a variety of asset classes and investment styles (the "Underlying Portfolios"). The Strategy is managed to the specific year of planned retirement included in its name (the "retirement date"). The Strategy's asset mixes will become more conservative each year until reaching the year approximately fifteen years after the retirement date (the "target year") at which time the asset allocation mix will become static. This reflects the objective of pursuing the maximum amount of capital growth, consistent with a reasonable amount of risk, during the investor's pre-retirement and early retirement years. After retirement the Strategy's investment mix anticipates that an investor may take withdrawals from his or her account to provide supplemental retirement income. <br/><br/>After the retirement date of the Strategy, its asset mix seeks to minimize the likelihood that an investor in the Strategy experiences a significant loss of capital at a more advanced age. The asset mix for the Strategy will continue to change after the Strategy's retirement date with an increasing exposure to investments in fixed-income securities and short-term bonds until fifteen years after the Strategy's retirement date. Thereafter, the target asset allocation for the Strategy will generally be fixed. The static allocation of the Strategy's asset mix will be 27.5% short-duration bonds, 37.5% other fixed-income securities, 12.5% Volatility Management Portfolio, 15.5% other equities and 7% Multi-Asset Real Return Portfolio. <br/><br/>The Underlying Portfolios will include a Portfolio, the Volatility Management Portfolio, that is designed to reduce the overall effect of equity market volatility on the Strategy and the effects of adverse equity market conditions on its performance. The Volatility Management Portfolio will be a component of the Strategy's equity asset allocation. Under normal market conditions, this Underlying Portfolio will invest predominantly in equity securities. If the Adviser determines that the equity markets pose disproportionate risks, the Adviser will reduce (or eliminate) this Underlying Portfolio's equity investments and invest in fixed-income securities or other non-equity asset classes to reduce the risks of the Strategy's investments in equity securities. <br/><br/>The Adviser will allow the relative weightings of the Strategy's asset classes to vary in response to the markets, but ordinarily only by plus/minus 5%. Beyond those ranges, the Adviser will generally rebalance the portfolio toward the target asset allocation for the Strategy. However, there may be occasions when those ranges will expand to 10% of the Strategy's portfolio due to, among other things, appreciation of one of the asset classes.<br/><br/>The following chart illustrates how the asset mix of the Strategy will vary over time. In general, the asset mix of the Strategy will gradually shift from one comprised largely of Underlying Portfolios that emphasize investments in stocks to one that is comprised of a mixture of Underlying Portfolios that invest in bonds (including short-duration bonds) and stocks. <br/><br/><div> <table style="width: 389pt; border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="518"><tr style="height: 15.75pt;"> <td style="background-color: transparent; width: 110pt; height: 15.75pt;" class="xl65" height="21" width="147"> </td> <td style="background-color: transparent; width: 59pt;" width="78"> </td> <td style="background-color: transparent; width: 48pt;" width="64"> </td> <td style="background-color: transparent; width: 172pt;" class="xl67" width="229" colspan="3">Years Before Retirement</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;" align="right">45</td> <td style="background-color: transparent;" align="right">40</td> <td style="background-color: transparent;" align="right">35</td> <td style="background-color: transparent;" align="right">30</td> <td style="background-color: transparent;" align="right">25</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Diversified Value</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">19.50%</td> <td style="background-color: transparent;" class="xl66" align="right">18.25%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Large Cap Growth</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">19.50%</td> <td style="background-color: transparent;" class="xl66" align="right">18.25%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Value</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Growth</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Value</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">17.00%</td> <td style="background-color: transparent;" class="xl66" align="right">16.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Growth</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">17.00%</td> <td style="background-color: transparent;" class="xl66" align="right">16.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Multi-Asset Real Return</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Volatility Management</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">10.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">High Yield</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Global Bonds</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Inflation-Protected</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">    Securities</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Short Duration Bonds</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl67" colspan="3">Years Before Retirement</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" align="right">20</td> <td style="background-color: transparent;" align="right">15</td> <td style="background-color: transparent;" align="right">10</td> <td style="background-color: transparent;" align="right">5</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Diversified Value</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">16.25%</td> <td style="background-color: transparent;" class="xl66" align="right">13.75%</td> <td style="background-color: transparent;" class="xl66" align="right">11.25%</td> <td style="background-color: transparent;" class="xl66" align="right">9.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Large Cap Growth</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">16.25%</td> <td style="background-color: transparent;" class="xl66" align="right">13.75%</td> <td style="background-color: transparent;" class="xl66" align="right">11.25%</td> <td style="background-color: transparent;" class="xl66" align="right">9.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Value</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">4.25%</td> <td style="background-color: transparent;" class="xl66" align="right">3.50%</td> <td style="background-color: transparent;" class="xl66" align="right">2.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Growth</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">4.25%</td> <td style="background-color: transparent;" class="xl66" align="right">3.50%</td> <td style="background-color: transparent;" class="xl66" align="right">2.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Value</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">14.00%</td> <td style="background-color: transparent;" class="xl66" align="right">12.00%</td> <td style="background-color: transparent;" class="xl66" align="right">9.75%</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Growth</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">14.00%</td> <td style="background-color: transparent;" class="xl66" align="right">12.00%</td> <td style="background-color: transparent;" class="xl66" align="right">9.75%</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Multi-Asset Real Return</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td> <td style="background-color: transparent;" class="xl66" align="right">10.00%</td> <td style="background-color: transparent;" class="xl66" align="right">10.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Volatility Management</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">12.50%</td> <td style="background-color: transparent;" class="xl66" align="right">17.50%</td> <td style="background-color: transparent;" class="xl66" align="right">20.00%</td> <td style="background-color: transparent;" class="xl66" align="right">20.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">High Yield</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Global Bonds</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">10.00%</td> <td style="background-color: transparent;" class="xl66" align="right">12.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Inflation-Protected</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">    Securities</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td> <td style="background-color: transparent;" class="xl66" align="right">9.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Short Duration Bonds</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;" class="xl67" colspan="2">Retirement Date</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl67" colspan="2">Years After Retirement</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;" align="right">0</td> <td style="background-color: transparent;" align="right">5</td> <td style="background-color: transparent;" align="right">10</td> <td style="background-color: transparent;" align="right">15</td> <td style="background-color: transparent;" align="right">20</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Diversified Value</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.45%</td> <td style="background-color: transparent;" class="xl66" align="right">5.25%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Large Cap Growth</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.45%</td> <td style="background-color: transparent;" class="xl66" align="right">5.25%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Value</td> <td style="background-color: transparent;" class="xl66" align="right">2.00%</td> <td style="background-color: transparent;" class="xl66" align="right">1.50%</td> <td style="background-color: transparent;" class="xl66" align="right">1.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.75%</td> <td style="background-color: transparent;" class="xl66" align="right">0.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Growth</td> <td style="background-color: transparent;" class="xl66" align="right">2.00%</td> <td style="background-color: transparent;" class="xl66" align="right">1.50%</td> <td style="background-color: transparent;" class="xl66" align="right">1.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.75%</td> <td style="background-color: transparent;" class="xl66" align="right">0.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Value</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td> <td style="background-color: transparent;" class="xl66" align="right">3.00%</td> <td style="background-color: transparent;" class="xl66" align="right">3.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Growth</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.30%</td> <td style="background-color: transparent;" class="xl66" align="right">4.00%</td> <td style="background-color: transparent;" class="xl66" align="right">3.00%</td> <td style="background-color: transparent;" class="xl66" align="right">3.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Multi-Asset Real Return</td> <td style="background-color: transparent;" class="xl66" align="right">10.00%</td> <td style="background-color: transparent;" class="xl66" align="right">8.50%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Volatility Management</td> <td style="background-color: transparent;" class="xl66" align="right">20.00%</td> <td style="background-color: transparent;" class="xl66" align="right">20.00%</td> <td style="background-color: transparent;" class="xl66" align="right">17.50%</td> <td style="background-color: transparent;" class="xl66" align="right">12.50%</td> <td style="background-color: transparent;" class="xl66" align="right">12.50%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">High Yield</td> <td style="background-color: transparent;" class="xl66" align="right">7.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">2.50%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Global Bonds</td> <td style="background-color: transparent;" class="xl66" align="right">14.00%</td> <td style="background-color: transparent;" class="xl66" align="right">16.00%</td> <td style="background-color: transparent;" class="xl66" align="right">19.50%</td> <td style="background-color: transparent;" class="xl66" align="right">22.50%</td> <td style="background-color: transparent;" class="xl66" align="right">22.50%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Inflation-Protected</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">    Securities</td> <td style="background-color: transparent;" class="xl66" align="right">14.00%</td> <td style="background-color: transparent;" class="xl66" align="right">15.00%</td> <td style="background-color: transparent;" class="xl66" align="right">15.00%</td> <td style="background-color: transparent;" class="xl66" align="right">15.00%</td> <td style="background-color: transparent;" class="xl66" align="right">15.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Short Duration Bonds</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">9.00%</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">27.50%</td> <td style="background-color: transparent;" class="xl66" align="right">27.50%</td></tr></table></div> PRINCIPAL RISKS The value of your investment in the Strategy will change with changes in the values of the Strategy's investments in the Underlying Portfolios. There is no assurance that the Strategy will provide an investor with adequate income at or through retirement. The degree to which the following risks apply varies according to the Strategy's asset allocation. <ul type="square"><li style="margin-left: -20px">MARKET RISK: The value of the Strategy's investments will fluctuate as the stock or bond market fluctuates. The value of its investments may decline, sometimes rapidly and unpredictably, simply because of economic changes or other events that affect large portions of the market. It includes the risk that a particular style of investing, such as growth or value, may be underperforming the stock market generally.</li></ul><ul type="square"><li style="margin-left: -20px">INTEREST RATE RISK: Changes in interest rates will affect the value of the Strategy's investments in Underlying Portfolios that invest in fixed-income securities. When interest rates rise, the value of investments in fixed-income securities tends to fall and this decrease in value may not be offset by higher income from new investments. Interest rate risk is generally greater for fixed-income securities with longer maturities or durations. Investments in fixed-income securities with lower credit ratings ("junk bonds") tend to have a higher probability that an issuer will default or fail to meet its payment obligations.</li></ul><ul type="square"><li style="margin-left: -20px">CREDIT RISK: An issuer or guarantor of a fixed-income security, or the counterparty to a derivatives or other contract, may be unable or unwilling to make timely payments of interest or principal, or to otherwise honor its obligations. The issuer or guarantor may default, causing a loss of the full principal amount of a security. The degree of risk for a particular security may be reflected in its credit rating. There is the possibility that the credit rating of a fixed-income security may be downgraded after purchase, which may adversely affect the value of the security. Investments in fixed-income securities with lower ratings tend to have a higher probability that an issuer will default or fail to meet its payment obligations.</li></ul><ul type="square"><li style="margin-left: -20px">ALLOCATION RISK: The allocation of investments among the Underlying Portfolios' different investment styles, such as growth or value, equity or debt securities, or U.S. or non-U.S. securities, may have a more significant effect on the Strategy's NAV when one of these investments is performing more poorly than the other.</li></ul><ul type="square"><li style="margin-left: -20px">INFLATION RISK: This is the risk that the value of assets or income from the Strategy's investments in the Underlying Portfolios will be less in the future as inflation decreases the value of money. As inflation increases, the value of each Underlying Portfolio's assets can decline as can the value of that Underlying Portfolio's distributions.</li></ul><ul type="square"><li style="margin-left: -20px">FOREIGN (NON-U.S.) RISK: The Strategy's investments in Underlying Portfolios that invest in securities of non-U.S. issuers may experience more rapid and extreme changes in value than investments in securities of U.S. issuers. These securities may fluctuate more widely in price and may be less liquid due to adverse market, economic, political, regulatory or other factors. This risk is greater when the Strategy has a higher asset allocation of Underlying Portfolios that invest in non-U.S. issuers.</li></ul><ul type="square"><li style="margin-left: -20px"> EMERGING MARKET RISK: Investments in emerging market countries may involve more risk than investments in other foreign countries because the markets in emerging market countries are less developed and less liquid as well as subject to increased economic, political, regulatory and other uncertainties.</li></ul><ul type="square"><li style="margin-left: -20px">CURRENCY RISK: Fluctuations in currency exchange rates may negatively affect the value of the Strategy's investments or reduce its returns.</li></ul><ul type="square"><li style="margin-left: -20px">CAPITALIZATION RISK: Investments in small- and mid-capitalization companies by Underlying Portfolios tend to be more volatile than investments in large-capitalization companies. Investments in small-capitalization companies may have additional risks because these companies often have limited product lines, markets, or financial resources.</li></ul><ul type="square"><li style="margin-left: -20px">FOCUSED PORTFOLIO RISK: The Underlying Portfolios that invest in a limited number of companies may have more risk because changes in the value of a single security may have a more significant effect, either negative or positive, on the Strategy's NAV.</li></ul><ul type="square"><li style="margin-left: -20px">DERIVATIVES RISK: Investments in derivatives may be illiquid, difficult to price, and leveraged so that small changes may produce disproportionate losses, and may be subject to counterparty risk to a greater degree than more traditional investments. </li></ul><ul type="square"><li style="margin-left: -20px">LEVERAGE RISK: Borrowing money or other leverage may make an Underlying Portfolio's investments more volatile because leverage tends to exaggerate the effect of any increase or decrease in the value of its investments. An Underlying Portfolio may create leverage through the use of certain portfolio management techniques such as reverse repurchase agreements or forward commitments, or by borrowing money.</li></ul><ul type="square"><li style="margin-left: -20px">MANAGEMENT RISK: The Strategy is subject to management risk because it is an actively managed investment fund. The Adviser will apply its investment techniques and risk analyses in making investment decisions for the Strategy, but there is no guarantee that its techniques will produce the intended results.</li></ul>As with all investments, you may lose money by investing in the Strategy. BAR CHART AND PERFORMANCE INFORMATION The bar chart and performance information provide an indication of the historical risk of an investment in the Strategy by showing:<ul type="square"><li style="margin-left: -20px">how the Strategy's performance changed from year to year over the life of the Strategy; and</li></ul><ul type="square"><li style="margin-left: -20px">how the Strategy's average annual returns for one year and since inception compare to those of a broad-based securities market index.</li></ul>You may obtain updated performance information on the Strategy's website at www.AllianceBernstein.com (click on "Individuals--U.S." then "Products & Performance"). <br/><br/>The Strategy's past performance before and after taxes, of course, does not necessarily indicate how it will perform in the future. BAR CHART The annual returns in the bar chart are for the Strategy's Class A shares and do not reflect sales loads. If sales loads were reflected, returns would be less than those shown. Through September 30, 2012, the year-to-date unannualized return for Class A shares was 11.11%. Calendar Year End (%)<br/><br/>During the period shown in the bar chart, the Strategy's:<br/><br/> BEST QUARTER WAS UP 18.56%, 3RD QUARTER, 2009; AND WORST QUARTER WAS DOWN -20.61%, 4TH QUARTER, 2008. PERFORMANCE TABLE<br/>AVERAGE ANNUAL TOTAL RETURNS<br/>(For the periods ended December 31, 2011) The annual returns in the bar chart are for the Strategy's Class A shares and do not reflect sales loads. The Strategy's past performance before and after taxes, of course, does not necessarily indicate how it will perform in the future. The bar chart and performance information provide an indication of the historical risk of an investment in the Strategy by showing:<ul type="square"><li style="margin-left: -20px">how the Strategy's performance changed from year to year over the life of the Strategy; and</li></ul><ul type="square"><li style="margin-left: -20px">how the Strategy's average annual returns for one year and since inception compare to those of a broad-based securities market index.</li></ul> The Composite Benchmark reflects no deductions for fees, expenses or taxes. Are shown for Class A shares only and will vary for Class B, Class C and Advisor Class shares because these Classes have different expense ratios; www.AllianceBernstein.com Are estimates based on the highest historical individual federal marginal income tax rates, and do not reflect the impact of state and local taxes Are not relevant to investors who hold Strategy shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. As with all investments, you may lose money by investing in the Strategy. 0.46 You may qualify for sales charge reductions if you and members of your family invest, or agree to invest in the future, at least $100,000 in AllianceBernstein Mutual Funds. ALLIANCEBERNSTEIN 2010 RETIREMENT STRATEGY 100000 INVESTMENT OBJECTIVE December 31, 2013 The Strategy's investment objective is to seek the highest total return (total return includes capital appreciation and income) over time consistent with its asset mix. FEES AND EXPENSES OF THE STRATEGY This table describes the fees and expenses that you may pay if you buy and hold shares of the Strategy. You may qualify for sales charge reductions if you and members of your family invest, or agree to invest in the future, at least $100,000 in AllianceBernstein Mutual Funds. More information about these and other discounts is available from your financial intermediary and in Investing in the Strategies--Sales Charge Reduction Programs for Class A Shares on page 72 of this Prospectus and in Purchase of Shares--Sales Charge Reduction Programs for Class A Shares on page 109 of the Strategy's SAI. SHAREHOLDER FEES (fees paid directly from your investment) ANNUAL STRATEGY OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) year-to-date EXAMPLES 2012-09-30 0.1111 The Examples are intended to help you compare the cost of investing in the Strategy with the cost of investing in other mutual funds. The Examples assume that you invest $10,000 in the Strategy for the time periods indicated and then redeem all of your shares at the end of those periods. The Examples also assume that your investment has a 5% return each year, that the Strategy's operating expenses stay the same and that the fee waiver is in effect only for the first year. Although your actual costs may be higher or lower, based on these assumptions your costs would be: For the share classes listed below, you would pay the following expenses if you did not redeem your shares at the end of the period: BEST QUARTER PORTFOLIO TURNOVER The Strategy (or an Underlying Portfolio) pays transaction costs, such as commissions, when it buys or sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Strategy shares are held in a taxable account. These transaction costs, which are not reflected in the Annual Strategy Operating Expenses or in the Examples, affect the Strategy's performance. During the most recent fiscal year, the Strategy's portfolio turnover rate (which reflects only purchases and sales of the Underlying Portfolios) was 18% of the average value of its portfolio. 2009-09-30 PRINCIPAL STRATEGIES: 0.1856 WORST QUARTER The Strategy seeks the highest total return over time consistent with its asset mix. Total return includes capital growth and income. To achieve its investment objective, the Strategy invests in a combination of portfolios of The AllianceBernstein Pooling Portfolios representing a variety of asset classes and investment styles (the "Underlying Portfolios"). The Strategy is managed to the specific year of planned retirement included in its name (the "retirement date"). The Strategy's asset mixes will become more conservative each year until reaching the year approximately fifteen years after the retirement date (the "target year") at which time the asset allocation mix will become static. This reflects the objective of pursuing the maximum amount of capital growth, consistent with a reasonable amount of risk, during the investor's pre-retirement and early retirement years. After retirement the Strategy's investment mix anticipates that an investor may take withdrawals from his or her account to provide supplemental retirement income.<br/><br/>After the retirement date of the Strategy, its asset mix seeks to minimize the likelihood that an investor in the Strategy experiences a significant loss of capital at a more advanced age. The asset mix for the Strategy will continue to change after the Strategy's retirement date with an increasing exposure to investments in fixed-income securities and short-term bonds until fifteen years after the Strategy's retirement date. Thereafter, the target asset allocation for the Strategy will generally be fixed. The static allocation of the Strategy's asset mix will be 27.5% short-duration bonds, 37.5% other fixed-income securities, 12.5% Volatility Management Portfolio, 15.5% other equities and 7% Multi-Asset Real Return Portfolio.<br/><br/>The Underlying Portfolios will include a Portfolio, the Volatility Management Portfolio, that is designed to reduce the overall effect of equity market volatility on the Strategy and the effects of adverse equity market conditions on its performance. The Volatility Management Portfolio will be a component of the Strategy's equity asset allocation. Under normal market conditions, this Underlying Portfolio will invest predominantly in equity securities. If the Adviser determines that the equity markets pose disproportionate risks, the Adviser will reduce (or eliminate) this Underlying Portfolio's equity investments and invest in fixed-income securities or other non-equity asset classes to reduce the risks of the Strategy's investments in equity securities.<br/><br/>The Adviser will allow the relative weightings of the Strategy's asset classes to vary in response to the markets, but ordinarily only by plus/minus 5%. Beyond those ranges, the Adviser will generally rebalance the portfolio toward the target asset allocation for the Strategy. However, there may be occasions when those ranges will expand to 10% of the Strategy's portfolio due to, among other things, appreciation of one of the asset classes.<br/><br/> The following chart illustrates how the asset mix of the Strategy will vary over time. In general, the asset mix of the Strategy will gradually shift from one comprised largely of Underlying Portfolios that emphasize investments in stocks to one that is comprised of a mixture of Underlying Portfolios that invest in bonds (including short-duration bonds) and stocks.<br/><br/> <div> <table style="width: 389pt; border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="518"><tr style="height: 15.75pt;"> <td style="background-color: transparent; width: 110pt; height: 15.75pt;" class="xl65" height="21" width="147"> </td> <td style="background-color: transparent; width: 59pt;" width="78"> </td> <td style="background-color: transparent; width: 48pt;" width="64"> </td> <td style="background-color: transparent; width: 172pt;" class="xl67" width="229" colspan="3">Years Before Retirement</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;" align="right">45</td> <td style="background-color: transparent;" align="right">40</td> <td style="background-color: transparent;" align="right">35</td> <td style="background-color: transparent;" align="right">30</td> <td style="background-color: transparent;" align="right">25</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Diversified Value</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">19.50%</td> <td style="background-color: transparent;" class="xl66" align="right">18.25%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Large Cap Growth</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">20.50%</td> <td style="background-color: transparent;" class="xl66" align="right">19.50%</td> <td style="background-color: transparent;" class="xl66" align="right">18.25%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Value</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US SMID Growth</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.50%</td> <td style="background-color: transparent;" class="xl66" align="right">6.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.75%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Value</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">17.00%</td> <td style="background-color: transparent;" class="xl66" align="right">16.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">International Growth</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">18.00%</td> <td style="background-color: transparent;" class="xl66" align="right">17.00%</td> <td style="background-color: transparent;" class="xl66" align="right">16.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Multi-Asset Real Return</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Volatility Management</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">10.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">High Yield</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Global Bonds</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td> <td style="background-color: transparent;" class="xl66" align="right">5.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Inflation-Protected</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">    Securities</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">Short Duration Bonds</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td> <td style="background-color: transparent;" class="xl66" align="right">0.00%</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl67" colspan="3">Years Before Retirement</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" align="right">20</td> <td style="background-color: transparent;" align="right">15</td> <td style="background-color: transparent;" align="right">10</td> <td style="background-color: transparent;" align="right">5</td></tr> <tr style="height: 15.75pt;"><td style="background-color: transparent; height: 15.75pt;" class="xl65" height="21">US Diversified Value</td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl66" align="right">16.25%</td> <td style="background-color: transparent;" class="xl66" align="right">13.75%</td> <td style="background-color: transparent;" class="xl66" align="right">11.25%</td> <td style="background-color: transparent;" class="xl66