Page 10 - NovDefComp

November 3, 2022

Q3 2022 Plan Summary Review

San Mateo County Deferred Compensation Plan

Current Period: July 1, 2022 – September 30, 2022
Prior Period: April 1, 2022 – June 30, 2022

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.