EMPOWER ANNUITY INSURANCE COMPANY

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In the OA service with respect to the completeness, accuracy, and timeliness of the Information. Participants should review their retirement accounts periodically to monitor changes In the market and the value of their I mestments. A failure by an Individual to review and update their account Information through OA may materially affect the content end value of the service. Limitations on the online Investment Guidance and the Online Advice Services The recommendations provided through OA and the information provided through OIG are estimates based on the responses and Information provided by the participants. Neither FAG nor Morningstar Investment Management make any guarantees or warranties, express or Implied, as to the accuracy, timeliness, or completeness of such Information. The OIG and OA services are also subject to the general market and financial conditions existing at the time of use. The retirement goal forecast and Investment recommendations provided by OA and the Information provided through OIG are not a guarantee of future results, nor are they a guarantee that a particlpant will achieve their retirement goals. OA and OIG should only be used by partidpants as a tool In their retirement planning and not as a substkute for their own Informed judgment. Neither FAG nor Morningstar Investment Management has an obligation to update any information for a specific Individual or to proactively contact the individual to obtain updated Information. A failure by an Individual to review and update account information through OA and OIG may materially affect the content and value of services received from FAG. 3. Managed Account Service EAG offers a discretionary managed account service (Managed Account, MA service or Mill). This is a professional and Flexible asset management program based on data resulting from the methodologies and proprietary software program developed and employed by Morningstar Investment Management. In the MA service, EAG has discretionary authority over the allocation of available investment options, without prior participant approval of each transaction. All ongoing investment transfers and investment directlon changes are implemented for Individuals enrolled In the MA service. The MA service designs a specific asset allocation portfolio for the participant that reflects the Individual's retirement goals, IHe stages, specified risk constraint and overall financial situation. The MA service considers plan assets and other assets and Investments not Included within the plan If provided by the participant. On a periodic basis, Individual accounts In the MA service are re forecasted, which may Include rebalandng and reallocating the IndNldual's asset allocation portfolio. This Is done to maintain alignment with the allocation percentage, determined by Morningstar Investment Management through various assumptions and hypothetical financial and economic scenarios. Such scenarios are based on different factors such as historic returns, market volatility, cross correlations, calculated risk premiums, Interest rate fluctuations, inflation, market conditions, and the personal financial circumstances of the participant. Particlpants receive an account update and forecast statement annually and can update their personal Information at anytime by calling EAG at their plan's toll -free customer service number, or by visiting the appropriate vueosite. Some plan providers may offer a guaranteed lifetime benefit withdrawal option to plan participants who are approaching retirement or are In retirement. IF the plan provider offers this service end If the pa rticipart meets the retirement criteria established by the plan provider or plan sponsor, the investment strategy may include a suggested amount that ca n be withdrawn while maintaining Income throughout retirement. It may also include Information about allocating a portion of the managed account balance for the purchase of an annuity or ther guaranteed Income product. Limitations err the Managed Accounts Service When participants enroll in the MA service, they must transfer and allocate their entire retirement account balance to the Managed Account. For participants, there is an exception of employer stock and employer directed monies. Partial are nxgementof participants' accountwhere they are invested in other investment options (such as individual stocks or other asset classes outside of the available investment options) while also participating in the MA service City Council 19 — 84 9/19/2023