Page 19 - MayDefComp

May 26, 2022

Q1 2022 Plan Summary Review

San Mateo County Deferred Compensation Plan

Current Period: January 1, 2022 – March 31, 2022
Prior Period: October 1, 2021 – December 31, 2021

Effective on the closing date of the transaction, Empower Retirement (Empower) acquired the Massachusetts Mutual Life Insurance
Company's (MassMutual) retirement business. Through this transaction, business written by MassMutual is reinsured by Great-West Life &
Annuity Insurance Company (GWLA) and in New York by GreatWest Life & Annuity Insurance Company of New York. Concurrently,
MassMutual retroceded business it reinsures from a cedent, which MassMutual assumed in a previous transaction. On the closing date of
the transaction, Empower will administer the business on MassMutual's behalf, with certain administrative services being performed by
MassMutual and its affiliates during a temporary transition period. Additionally, GWFS Equities, Inc. will be the distributor of the
MassMutual Insurance products sold on Empower's platform. Empower Retirement refers to the products and services offered by GWLA
and its subsidiaries. GWFS Equities is a subsidiary of GWLA and an affiliate of Empower Retirement, LLC; Great-West Funds, Inc.; and
registered investment advisers Advised Assets Group, LLC and Personal Capital. Empower is not affiliated with MassMutual or its affiliates.

2021 Empower Retirement, LLC. All rights reserved.

FOR FINANCIAL PROFESSIONAL AND PLAN SPONSOR USE ONLY.