EMPOWER ANNUITY INSURANCE COMPANY

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Is not an avallable alternative. Participant balances In any of these Investment options must be Ilquldated, subject to plan and/or Investment provider restrictions, or the participant cannot be enrolled In the MA service. For participants, certain outside non -advisable assets may bepermitted while also participating In the MA service. However, the participant's entire advisable account balance must be allocated to the MA service. Once enrolled In the IVIA service, participants delegate certain n account management functions to EAG Including functionality for fund -to -fund transfers, change fund allocations, the dollar cost averaging tool and/or the rebalancer tool. However, Indti duals In the MA service retain full Inquiry access to their amounts and may still request approval for loans or take a distribution withdrawal, if permisslble. Participants may un-enroll at anytime from the MA service. Once they do so, the participants resume full responsibility for the Investment management of their accounts. An individual may tin -enroll online or by contacting an EAG Investment adviser represenfative. 4. Spend -Down Advice Participants who are enrolled in any of EAG's F&rvices discussed above are also provided with an additional feature of Spend -Doom Advice which includes retirement planning tools, The Spend Down Advice illustrates how long the :..... desired income may last in retirement and determines how much spendable income the participant may be able to sustain throughout their retirement. The Spend -Down Advice provides both the amount andsourcesof income available throughout their retirement. The services provided under Spend -Down Advice provide projections of spendable income and do not constitute investme nt advice under the Investment Advisers Act of 1940. S. Retirement Income Projection fools and Services SAG may offer online tools and services for participants to convert projected or actual retirement savings Into estimated monthly retirement Income. This interactive retirement planning service consists of various retirement Income projection tools. These tools are m1a, natlonal in nature, do not reflect actual Investment: results, and are not guarantees of future results. These tools do not constitute investment advice under the. Investment Adviser; Act of 1940. Enrollment in EAG's R andons Plan prorlders and plan sponsors select the Service(,) (Le., OA, 010, and/or the MA service) that a re made avallable to plan particlpants and how participants can authorize the Seraice(s). Participants roust agree to the terns of a user agreement (Terms of Service). Terms may be amended by EAG from time to time, to allow continued use of any of the Services. As parrots participant's enrollment In the MA service, the participant receives a MA Welcome KIt shortly after enrollment. The participant addltlonally receives an Annual Kit, each year. Each kit provides the participant an update on their account and information on reaching their retirement goals. In certain Instances, Plan Sponsors may authorize EAG to enroll particlpants automatically In the NIA servI m based on Information provided to FAG by the plan Sponsors. In such Instances, current particlpantsin the Plan receive the Terms of Service and are given a defined period. of tune in which to cancel or opt -cut of theMAservice without Incurring an advisory fee (the Free Period or Promotional Period)..Pards.lpi nts' automatic enrollment In the Service by the Plan Sponsors Is based upon personal financial information provided bythe PlanSponser, Including date of birth, salary, gender, and state of residence. Participants may review this Information online or by contacting an EAG investment adviser representative. ParticXpants are. solely responsible .for reviewing the personal flnanclal information they or their Plan Sponsor provide, and for notifying EAG of any changes or updates. Participants who are eligible for their amployeraponsored retirement plan or that otherwise elect to opt -in after the Free Look or Promotional period concludes, may not be eligible for a waiver of advisory fees that Is otherwise available In the Free Look or Piomotloual Period. - The advice and recommendations provided through the Services are based on the responses or other Information provided by or about the. participant by the Plan Sponsor and/or the participant Neither EAG nor Morningstar investmentManagement make. any guarantees or warranties, express or implied, as to the accuracy, timellness, or City Council 19 — 85 9/19/2023