Hello Jake,
Pretty Permalinks usually just use the post title in the link instead of the id, so it is easier to ready and determine what the link is.
So:
http://example.com/?p=2424
Becomes this:
http://example.com/post-name/
Here is a link to WordPress Codex explaining all the Permalink Options you have and how to change it in WordPress.
http://codex.wordpress.org/Using_Permalinks
Another going into more depth:
http://www.elegantthemes.com/blog/tips-tricks/wordpress-permalinks
By default the Events Calendar Link is set @
http://example.com/events/
Community Events is set @
http://example.com/events/community/add/
http://example.com/events/community/list/
Let me know if you need anything else related to Permalinks.
Thanks,