Page 57 - FebDefComp

of the independent fiduciary’s role and qualifications is correct. MassMutual is not undertaking to provide impartial investment advice, or give advice in a fiduciary capacity, in connection with any investment by, or other
West Life & Annuity Insurance Company (“GWLA”), and in New York by Great-West Life & Annuity Insurance Company of New York (“GWLANY”). Concurrently, MassMutual retroceded to GWLA and GWLANY similar
servicing fees, revenue sharing, investment advisory fees, administrative fees, asset charges, float, optional services fees and other fees and revenue as a result of any investment by the plan. MassMutual will provide
capable of evaluating investment risks independently, both in general and with regard to particular transactions and investment strategies. Unless you tell us otherwise, MassMutual will assume that our understanding
29 CFR section 2510.3-21(c)(1) ), (b) the independent fiduciary is responsible for exercising independent judgment in evaluating any transaction between the plan and MassMutual and (c) the independent fiduciary is
On December 31, 2020, Empower Retirement (“Empower”) acquired the retirement plan and group insurance business of Massachusetts Mutual Life Insurance Company (“MassMutual”). Following an initial transition
period, Empower Retirement will become the sole administrator of the retirement business acquired from MassMutual. Through this transaction, group insurance business written by MassMutual is reinsured by Great-
MassMutual’s understanding that (a) the independent fiduciary has under management or control total assets of at least $50 million, or is a broker-dealer, investment adviser, insurance carrier, or bank, as defined in
transaction of, the plan. MassMutual and its affiliates have a financial interest in any investment made by the plan while a client of MassMutual’s and may receive 12(b)(1) fees, sub-transfer agency fees, shareholder
Empower Retirement, LLC; GWFS Equities, Inc.; and registered investment advisers Advised Assets Group, LLC and Personal Capital Advisors Corporation. GWFS Equities, Inc. is the distributor of the MassMutual
Notwithstanding some of the terms used in these materials (e.g., plan sponsor or employer), these materials are directed to and are intended for use by the referenced plan’s independent fiduciary adviser based on
group insurance business it reinsures from a cedent, which MassMutual assumed in a previous transaction. Empower Retirement refers to the products and services offered by GWLA and its subsidiaries, including

insurance products sold on Empower’s platform. Empower Retirement is not affiliated with MassMutual or its affiliates.

the plan with a complete description of all such fees prior to any investment by the plan and upon request.

The Investment Program Disclosures

Performance as of 12/31/2020