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information.Such Information, which Includes date of birth, salary, gender and/or state of. residence, most be <br />reviewed periodically by the participant and/or the Plan Sponsor who In turn are responsible for notifying EAG of <br />any changes,errors, or omissions to such Information. <br />EAG conducts the following review of its clients'accounts: _. <br />Online Investment Guldence EAGdoes not conduct any review or other oversight for participants enrolled InthIsservice. <br />OnlineAdvice <br />EAG does not conduct review of Its participant's accounts In respect to Investment oversight, monitoring, or <br />rebalancing. Participants receive from EAG's Investment recommendations based on the Investment options <br />provided in their specific retirement plan. It Is the responsibility of CA clients to review and update their accounts <br />to adjust for changes in the investments they own and todetermine whether the recommendations ere suitable <br />for their particular investment needs. OA clients should also review and update their amounts if significant <br />changes occur inthoir personal circumstances. <br />Managed Account Service <br />Under the MA service, participant assets in the investment options are monitored, rebalanced, and reallocated on <br />a periodic basis by EAG, based on Morningstar Investment Managements software program. On art annual basis, <br />based on the individual's-birth date, those enrolled in the MA service will receive an Annual Kit containing an <br />account update and forecast statement. Morningstar Investment Management updates the capital market <br />assumptions underlying their methodology used to construct the asset classes, at least annually, then makes <br />changes to the portfolio allocations,,as necessary. The portfolios are also monitored on a regular basis on current <br />portfolio allocations and adjustments are made as necessary. <br />Reporting to Clients <br />Participants enrolled In the MA service receive a MA Welcome Kit shortly after enrollment and an account update <br />at least annually. Participants enrolled In OA can review their accounts and generate their own reports starry time. <br />Individuals are encouraged to update significant changes to their personal information via the appropriate toll -free <br />customer service number. In addition, all Individuals receiving Services are provided quarterly account statements <br />generated by the plan's recordkeeper. <br />Item 14— Client Referrals and Other Compensation <br />EAG has authorized EFSI, an affiliate of EAG, and Its licensed agents and registered representatives who are Empower <br />employees (collectively referred to as Agents) to solicit, refer and market EAG's services. EAG does not pay any <br />compensation directly to EFSI or its Agents for the solicitation activities performed by EFSI and Its Agents. The Agents <br />receive compensation. in the form of a salary and a. variable bonus paid by Empower. No commissfons are paid to <br />Agents for the Services by EAG or EFSI., <br />Agents may earn bonus compensation based upon engaging plan sponsors to offer EAG's services: Other Agents and <br />EAG representatives may be Indirectly compersated throughbonuscompensation, In addition to their salary, for <br />communication, education and/or assisting participants to enroll In EAC's Services. The Incentive compensation an <br />EAG representative receives depends on position type, but generally is calculated based on Empower Retirement <br />and/or EAIC profitability and the achievement of Individual performance goals that may Include factors unrelated to <br />an account holder's adoption of Investment products or services offered through Empower Retirement. <br />Agents and EAG representatives individual performance goals and their related incentive compensation is based <br />on a combination of factors including the number and quality of customer engagements during the measurement <br />period and the amount of customer assets retained as result of the engagements. The rate of incentive <br />compensation considers the total amount of retained or accumulated assets, comparedwith the monthly asset <br />goal, as determined by EAG on a periodic basis. The asset goal is generally set on an annual basis and may differ by <br />product or account type. Additional factors may include certain qualitative factors, such as leadership, teamwork, <br />Sg <br />City Council 19 — 96 9/19/2023 <br />