Equitable Life Financial Insurance Company

Equitable Life Financial Insurance Company of America

Supplement dated October 31, 2023 to the current prospectus for EQUI-VEST^® Employer-Sponsored Retirement Plans

A combination variable and fixed individual group flexible premium deferred annuity contract

This Supplement updates certain information in the most recent prospectus, initial summary prospectus and updating summary prospectus for variable annuity contracts and in any supplements to the prospectus, initial summary prospectus and updating summary prospectus (collectively, the “prospectus”). You should read this Supplement in conjunction with your prospectus and retain it for future reference. Unless otherwise indicated, all other information included in your prospectus remains unchanged. The terms we use in this Supplement have the same meaning as in your prospectus. We will send you another copy of any prospectus or supplement without charge upon request. Please contact the customer service center referenced in your prospectus.

For contracts issued in New York on or after November 10, 2023, the first paragraph in the section titled “Withdrawal charge for series 300 and 400 contracts” and the first paragraph in the section titled “For Trusteed contracts” under “Withdrawal charges for series 100 and 200 contracts” are deleted in their entirety and each is replaced with the following:

Withdrawal Charges will be deducted from the Investment Options from which each withdrawal is made in proportion to the amount being withdrawn from each Investment Option. A Withdrawal Charge will be imposed as a percentage of each Contribution made to the extent that a withdrawal exceeds the Free Withdrawal Amount or, if the Contract is surrendered to receive the Cash Value. We determine the Withdrawal Charge separately for each Contribution in accordance with the table below.

The applicable Withdrawal Charge percentage is determined by the Contract Year in which the withdrawal is made or the Contract is surrendered, beginning with ‘‘Contract Year 1’’ with respect to each Contribution withdrawn or surrendered. For purposes of the table, for each Contribution, the Contract Year in which we receive that Contribution is ‘‘Contract Year 1.”