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18 per share, it cannot guarantee it will
The performance data contained herein represents past performance and does not guarantee future results. Investment return and principal value of an investment will
do so. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The fund’s sponsor has no
Bond prices generally fall when interest rates rise (and vice versa) and are subject to risks, including changes in credit quality, market valuations, inflation, liquidity and default. High-yield bonds have a greater risk
Securities offered and/or distributed by GWFS Equities, Inc., Member FINRA/SIPC. GWFS is an affiliate of Empower Retirement, LLC; Great-West Funds, Inc.; and registered investment advisers,
Cash alternatives are not federally guaranteed and may lose value. Cash alternative portfolios have interest rate, inflation, and credit risks that are associated with the underlying assets owned by the portfolio.
Separately managed accounts are not registered investment products but separate accounts created specifically for the plan. Separately managed funds are not required to file a prospectus or registration

legal obligation to provide financial support to the fund, and you should not expect that the sponsor will provide financial support to the fund at any time.

Advised Assets Group, LLC and Personal Capital. This material is for informational purposes only and is not intended to provide investment, legal or tax recommendations or advice.

investing. summary prospectus for SEC registered $1 higher than the return data quoted or The return from TIPS may understate the actual rate of inflation due to changes in the The wrap contract, which provides book-value guarantees, is subject to the claims-paying heightened in emerging markets, which may also experience liquidity risk. Citigroup Inc. or its affiliates and is used and registered throughout the world. Citi with the prior written permission of Citi Index. Because of the possibility of human or information and is not responsible for any errors or omissions or for the results more information, see the fund’s prospectus and/or disclosure documents. a given time period. They are gross of any fee waivers or expense reimbursements. are the actual ratios that investors paid duri
herein. For more current fund performance, including the most recent completed calendar month, please visit empower-retirement.com.

You could lose money by investing in a money market fund. Although the fund seeks to preserve the value of your investment at
fluctuate so that shares or units when redeemed may be worth less than their original cost. Current performance may be lower
products or disclosure document for unregistered products, if available, containing this information. Read each carefully before
Index data and information.
Carefully consider the investment option’s objectives, risks, fees and expenses. Contact Empower Retirement for a prospectus,

be
of obtained from the use of such data and information. CITI INDEX GIVES NO EXPRESS OR IMPLIED WARRANTIES, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A The quoted performance may includes performance of a predecessor fund/share class prior to the share class commencement of operations. Please refer to the current prospectus for further information. Putnam funds are managed by Putnam Investment Management. Putnam mutual funds are distributed by Putnam Retail Management. Putnam is affiliated with GWL&A and GWL&A of NY and its subsidiaries.

Although data is gathered from reliable sources, the completeness or accuracy of the data shown cannot be guaranteed.

Disclosures

bond’s underlying price. The interest from Treasury inflation-protected securities (TIPS) is adjusted periodically according to the Consumer Price Index. U.S. Treasury securities are neither issued nor guaranteed by the U.S. government. statement with the SEC and, accordingly, neither is available. A collective trust stable value fund is offered by a bank or trust company and has interest rate, inflation and credit risks. ability of the insurer. Foreign securities involve risks, such as currency fluctuations, economic changes and political developments. These risks may Copyright ©2021 Citigroup Index LLC (Citi Index). All rights reserved. “Citigroup” is a registered trademark and service mark Index data and information are the property of Citi

of default.