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The purpose of this document is to provide investment-related information only for the benefit of the Plan Sponsor in its role as a fiduciary to the plan, not as investment
educational material provided to a Plan Sponsor or a Representative, duly authorized and acting on behalf of a Plan Sponsor, to assist the Plan Sponsor in understanding
accuracy. Economic data and information are derived from a variety of financial publications and economic reporting companies. All material presented is compiled from
of facts and circumstances. You should consult
to make investment decisions as the information
provided herein is not legal, ERISA, or tax advice. Any discussion of these matters included or related to this document or other educational information is provided for
material is being offered as informational and
we cannot guarantee its completeness or
informational purposes only. Such discussion does not purport to be complete or to cover every situation. Current tax and ERISA law are subject to interpretation and

Capital Markets Overview
the general investment environment. This document is not intended as a recommendation, solicitation or offering of any particular securities.

advice for plans or plan participants. Although we believe the data contained in this report is generally from reliable sources,
legislative change. The appropriateness of any product for any specific taxpayer may vary depending on the particular set
Circulation, disclosure, or dissemination of all or any part of this material to any unauthorized persons is prohibited. This
Plan fiduciaries should review the educational material provided and consult with their investment advisers if necessary

sources believed to be reliable and current, but accuracy cannot be guaranteed.

FOR FINANCIAL PROFESSIONAL AND PLAN SPONSOR USE ONLY.

with and rely on your own legal and tax advisers.

Fourth Quarter 2020