LAZARD RETIREMENT SERIES, INC.

Lazard Retirement Emerging Markets Strategic Equity Portfolio

Supplement to Current Prospectus

The following replaces the table in "Summary SectionLazard Retirement Emerging Markets Strategic Equity PortfolioFees and Expenses" in the Prospectus:

  Service Investor
  Shares Shares
Annual Portfolio Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)    
Management Fees 1.00% 1.00%
Distribution and Service (12b-1) Fees .25% None
Other Expenses1 .18% .18%
Total Annual Portfolio Operating Expenses 1.43% 1.18%
Fee Waiver and/or Expense Reimbursement2 .03% .03%
Total Annual Portfolio Operating Expenses After Fee Waiver and/or Expense Reimbursement 1.40% 1.15%
1Based on estimated amounts for the current fiscal year.
2Reflects a contractual agreement by Lazard Asset Management LLC (the "Investment Manager") to waive its fee and, if necessary, reimburse the Portfolio until April 30, 2022, to the extent Total Annual Portfolio Operating Expenses exceed 1.40% and 1.15% of the average daily net assets of the Portfolio's Service Shares and Investor Shares, respectively, exclusive of taxes, brokerage, interest on borrowings, fees and expenses of "Acquired Funds," fees and expenses related to filing foreign tax reclaims and extraordinary expenses. This expense limitation agreement can only be amended by agreement of the Fund, upon approval by the Fund's Board of Directors, and the Investment Manager to lower the net amount shown and will terminate automatically in the event of termination of the Management Agreement between the Investment Manager and the Fund, on behalf of the Portfolio.

 

The following replaces the table in "Summary SectionLazard Retirement Emerging Markets Strategic Equity PortfolioExample" in the Prospectus:

  1 Year 3 Years
Service Shares $           143 $           449
Investor Shares $           117 $           372

 

The following replaces any contrary information in the second table in "Fund ManagementInvestment Manager" in the Prospectus:

Name of Portfolio       Service
Shares
  Investor
Shares
Retirement Emerging Markets Strategic Equity Portfolio       1.40%   1.15%

 

 

 

Dated: June 23, 2021

 

 

 

 

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