MissionSquare Retirement Account Access

Fund past performance, as shown, is no guarantee of how the Fund will perform in the future. The performance shown has been annualized for periods greater than one year. Investment returns and principal value will fluctuate, so that an investor's shares, when redeemed, may be worth more or less than their original cost. For current performance, participants or plan sponsors in a MissionSquare Retirement administered account can log in at www.missionsq.org, or institutions can go to www.investments.missionsq.org.

Plan Default Funds - 300003

Fund Performance

Quarterly Report as of 03/31/2024

Show Most Recent Monthly Report

Stable Value/Cash Management

Fund Name	Fund Code	Qtr. Ended 03/31/24	YTD	1 Year	5 Year	10 Year	Since Inception	Inception Date	Expense Ratio
Fund Name	Fund Code	Qtr. Ended 03/31/24	YTD	1 Year	5 Year	10 Year	Since Inception	Inception Date	Gross	Net
MissionSquare PLUS R10^{A, B, C}	7071	0.74%	0.74%	2.91%	2.29%	2.20%	-	Oct 2013	0.52%	0.52%
ICE BofA US 3 Month Treasury Bill Index^{1, 2}		1.29%	1.29%	5.24%	2.02%	1.38%	-

MSQ Cash Management R5^{A, B, C, D, II}	0256	1.24%	1.24%	5.00%	1.77%	1.13%	-	Mar 1999	0.46%	0.43%
ICE BofA US 1-Month Treasury Bill^{1, 3}		1.31%	1.31%	5.21%	1.93%	1.30%	-
Morningstar Money Market - Taxable^{1, 4}		1.22%	1.22%	4.94%	1.76%	1.14%	-

Bond

Fund Name	Fund Code	Qtr. Ended 03/31/24	YTD	1 Year	5 Year	10 Year	Since Inception	Inception Date	Expense Ratio
Fund Name	Fund Code	Qtr. Ended 03/31/24	YTD	1 Year	5 Year	10 Year	Since Inception	Inception Date	Gross	Net
PIMCO Real Return Instl^{E, F, G, III}	5178	0.33%	0.33%	1.05%	2.63%	2.19%	5.08%	Jan 1997	0.67%	0.67%
Bloomberg U.S. Treasury Inflation-Linked Bond Index^{1, 5}		(0.08%)	(0.08%)	0.45%	2.49%	2.21%	-
Morningstar Inflation-Protected Bond^{1, 4}		0.19%	0.19%	1.10%	2.33%	1.80%	-

Guaranteed Lifetime Income

Fund Name	Fund Code	Qtr. Ended 03/31/24	YTD	1 Year	5 Year	10 Year	Since Inception	Inception Date	Expense Ratio
Fund Name	Fund Code	Qtr. Ended 03/31/24	YTD	1 Year	5 Year	10 Year	Since Inception	Inception Date	Gross	Net
MSQ Ret IncomeAdv R5^{A, B, C, H}	8077	5.20%	5.20%	14.64%	6.76%	5.68%	-	Aug 2010	1.67%	1.67%
Custom Benchmark⁶		5.29%	5.29%	15.88%	8.62%	7.42%	-

Balanced/Asset Allocation

Fund Name	Fund Code	Qtr. Ended 03/31/24	YTD	1 Year	5 Year	10 Year	Since Inception	Inception Date	Expense Ratio
Fund Name	Fund Code	Qtr. Ended 03/31/24	YTD	1 Year	5 Year	10 Year	Since Inception	Inception Date	Gross	Net
Glendale Conserv Option	1142	1.83%	1.83%	7.75%	3.78%	-	3.95%	Oct 2016	0.30%	0.30%
Morningstar Conservative Target Risk Index^{1, 7}		0.76%	0.76%	5.26%	2.37%	2.74%	-
Morningstar Conservative Allocation^{1, 4}		1.84%	1.84%	6.96%	2.73%	2.88%	-
Glendale Moderate Option	1141	5.85%	5.85%	18.63%	9.25%	-	9.28%	Oct 2016	0.29%	0.29%
Morningstar Moderate Target Risk Index^{1, 4, 8}		3.91%	3.91%	12.77%	6.42%	5.91%	-
Morningstar Moderate Allocation^{1, 4}		5.32%	5.32%	15.19%	7.45%	6.46%	-
Glendale Aggr Option	1140	7.37%	7.37%	21.91%	10.32%	-	10.78%	Oct 2016	0.30%	0.30%
Morningstar Aggressive Target Risk Index^{1, 9}		6.56%	6.56%	19.60%	9.58%	8.30%	-
Morningstar Aggressive Allocation^{1, 4}		7.28%	7.28%	20.20%	9.32%	7.71%	-

U.S. Stock

Fund Name	Fund Code	Qtr. Ended 03/31/24	YTD	1 Year	5 Year	10 Year	Since Inception	Inception Date	Expense Ratio
Fund Name	Fund Code	Qtr. Ended 03/31/24	YTD	1 Year	5 Year	10 Year	Since Inception	Inception Date	Gross	Net
MSQ Equity Income R5^{A, B, C, I}	0025	7.44%	7.44%	17.83%	10.13%	7.88%	-	Mar 1999	0.75%	0.75%
Russell 1000 Value Index^{1, 10}		8.99%	8.99%	20.27%	10.32%	9.01%	-
Morningstar Large Value^{1, 4}		8.83%	8.83%	20.70%	10.89%	9.09%	-
MSQ Invesco Main St R1^{A, B, C}	8131	12.24%	12.24%	28.51%	12.79%	10.75%	-	Nov 2011	1.12%	1.12%
S&P 500 Index^{1, 11}		10.56%	10.56%	29.88%	15.05%	12.96%	-
Morningstar Large Blend^{1, 4}		9.95%	9.95%	27.24%	13.65%	11.45%	-
Vngrd Total Stk Mkt Index^{E, G, III}	5468	10.00%	10.00%	29.37%	14.25%	12.28%	8.91%	Jul 1997	0.03%	0.03%
CRSP US Total Market Index^{1, 12}		10.01%	10.01%	29.33%	14.25%	12.28%	-
Morningstar Large Blend^{1, 4}		9.95%	9.95%	27.24%	13.65%	11.45%	-
Vngrd Small-Cap Idx Instl^{E, G, III, J}	5450	7.52%	7.52%	22.53%	10.00%	8.95%	9.09%	Jul 1997	0.04%	0.04%
CRSP US Small Cap Index^{1, 13}		7.51%	7.51%	22.42%	9.94%	8.91%	-
Morningstar Small Blend^{1, 4}		5.66%	5.66%	18.93%	9.33%	7.66%	-

International/Global Stock

Fund Name	Fund Code	Qtr. Ended 03/31/24	YTD	1 Year	5 Year	10 Year	Since Inception	Inception Date	Expense Ratio
Fund Name	Fund Code	Qtr. Ended 03/31/24	YTD	1 Year	5 Year	10 Year	Since Inception	Inception Date	Gross	Net
MSQ International R5^{A, B, C, K}	0045	6.34%	6.34%	15.14%	7.57%	5.10%	-	Mar 1999	0.95%	0.95%
MSCI EAFE Index (Net)^{1, 14}		5.78%	5.78%	15.32%	7.33%	4.80%	-
Morningstar Foreign Large Blend^{1, 4}		5.24%	5.24%	13.54%	6.56%	4.53%	-

GENERAL Disclosures

Investment options listed were available at the time this information was generated and can change overtime. Investment option performance is available the 5th business day after month end and benchmark/peer group performance is available on the 10th business day after quarter end. Information prior to those time periods may be incomplete.

Please refer to https://www.icmarc.org/for-individuals/education/glossary for a glossary of investment and fee related terms.

INVESTMENT OPTION Disclosures

A.	Before investing in the Fund, you should carefully consider your investment goals, tolerance for risk, investment time horizon, and personal circumstances. There is no guarantee that the Fund will meet its investment objective and you can lose money.
B.	The Fund is an investment option of VantageTrust, a group trust established and maintained by VantageTrust Company, LLC, a wholly owned subsidiary of MissionSquare Retirement. VantageTrust provides for the commingling of assets of certain trusts and plans as described in its Declaration of Trust, and is only available for investment by such eligible trusts and plans. The Fund is not a mutual fund. Its units are not deposits of VantageTrust Company and are not insured by the Federal Deposit Insurance Corporation or any other agency. The Fund is a security that has not been registered under the Securities Act of 1933 and is exempt from investment company registration under the Investment Company Act of 1940. For additional information regarding the Fund, including a description of the principal risks, please consult the Funds Disclosure Memorandum, which is available when plan administration clients log in at www.missionsq.org, at www.investments.missionsq.org for institutions, or upon request by calling 800-669-7400.
C.	When Funds are marketed to institutional clients, the Funds are offered by MissionSquare Investment Services, an SEC registered broker-dealer and FINRA member firm. MissionSquare Investment Services is a wholly-owned subsidiary of MissionSquare Retirement and is an affiliate of VantageTrust Company, LLC and MissionSquare Investments.
D.	The Fund is invested in a single registered mutual fund, the Fidelity® Money Market Government Portfolio. Investments in the fund are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. It is possible to lose money by investing in the fund.
E.	Certain information including, but not limited to, benchmark performance or other performance and/or fee information, is provided by Morningstar, Inc., © 2024 All rights reserved. This information: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of information. Morningstar is a registered trademark of Morningstar, Inc.
F.	A fixed income fund is subject to credit risk and interest rate risk. Credit risk is when an issuer of a fixed income security may be unable or unwilling to make payments of principal or interest to the holders of these securities or may declare bankruptcy. Fixed income securities fluctuate in value as interest rates change. When interest rates rise, the market prices of fixed income securities will usually decrease; when interest rates fall, the market prices of fixed income securities usually will increase.
G.	Please read the fund's prospectus or disclosure materials carefully for a complete summary of all fees, expenses, investment objectives and strategies, risks, financial highlights, and performance information. Investing involves risk, including possible loss of the amount invested. Investors should carefully consider the information contained in the prospectus or disclosure materials before investing. To request a prospectus or disclosure materials, you may contact us by calling 800-669-7400, or log in at www.missionsq.org.
H.	Empower Annuity Insurance Company (EAIC), CA COA #08003, Hartford, CT. Neither EAIC nor MissionSquare guarantees the investment performance or return on contributions to EAIC’s Separate Account. You should carefully consider the objectives, risks, charges, expenses, and underlying guarantee features before purchasing this product. EAIC may increase the Guarantee Fee in the future, from one percent up to a maximum of 1.50 percent. Like all variable investments, this Fund may lose value. Availability and terms may vary by jurisdiction; subject to regulatory approvals. Annuity contracts contain exclusions, limitations, and reductions of benefits and terms for keeping them in force. Guarantees are based on EAIC’s claims-paying ability. This annuity is issued under Contract form # GA-2020-TGWB4-0805-RC. MissionSquare provides recordkeeping services to your Plan and is the investment manager of the underlying EAIC Separate Account. EAIC or its affiliates may compensate MissionSquare for providing these and related administrative services in connection with the Fund. Before electing the Spousal Benefit (if available) on behalf of any beneficiary not recognized as your spouse under Federal law (a civil union partner), be aware that provisions of your plan or the Internal Revenue Code might prevent, limit, or otherwise affect the ability of the beneficiary to receive the Spousal Benefit. Variable annuities are suitable for long-term investing, particularly retirement savings. Empower refers to the products and services offered by Empower Annuity Insurance Company of America and its subsidiaries. This material is for informational purposes only and is not intended to provide investment, legal or tax recommendations or advice. ©2024 Empower Retirement, LLC. All rights reserved. Note: Participants who are interested in the MissionSquare Retirement IncomeAdvantage Fund must first receive and read the MissionSquare Retirement IncomeAdvantage Fund Important Considerations document before investing.
I.	Certain funds may be subject to style risk, which is the possibility that the investment style of its investment adviser will trail the returns of the overall market. In the past, different types of securities have experienced cycles of outperformance and underperformance in comparison to the market in general. For example, growth stocks have performed best during the later stages of economic expansion and value stocks have performed best during periods of economic recovery. Both styles may go in and out of favor. When the investing style used by a fund is out of favor, that fund is likely to underperform other funds that use investing styles that are in favor.
J.	Funds that invest primarily in small-capitalization companies involve greater risk than is customarily associated with investments in larger, more established companies. Equity securities of small-capitalization companies are generally subject to greater price volatility than those of larger companies due to less certain growth prospects, the lower degree of liquidity in the markets for their securities, and the greater sensitivity of smaller companies to changing economic conditions. Also, small-capitalization companies may have more limited product lines, fewer capital resources and less experienced management than larger companies.
K.	Funds that invest in foreign securities are exposed to the risk of loss due to political, economic, legal, regulatory, and operational uncertainties; differing accounting and financial reporting standards; limited availability of information; currency fluctuations; and higher transaction costs. Investments in foreign currencies or securities denominated in foreign currencies (including derivative instruments that provide exposure to foreign currencies) may experience gains or losses solely based on changes in the exchange rate between foreign currencies and the U.S. dollar. The risk of investing in foreign securities may be greater with respect to securities of companies located in emerging market countries. The value of developing or emerging market currencies may fluctuate more than the currencies of companies with more mature markets.

EXPENSE Disclosures

II.

Differences between the net and gross expense ratios of a fund are typically due to fee waivers, expense reimbursements, and/or expense limits.

III.

Certain information including, but not limited to, benchmark performance or other performance and/or fee information, is provided by Morningstar, Inc., © 2024 All rights reserved. This information: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of information. Morningstar is a registered trademark of Morningstar, Inc.

1.	Certain information including, but not limited to, benchmark performance or other performance and/or fee information, is provided by Morningstar, Inc., © 2024 All rights reserved. This information: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of information. Morningstar is a registered trademark of Morningstar, Inc.
2.	The Intercontinental Exchange Bank of America ("ICE BofA") US Treasury Bill 3 Month Index is comprised of a single U.S. Treasury Bill issue purchased at the beginning of each month and held for a full month, at which time that issue is sold and rolled into a newly selected issue. The issue selected each month is that having a maturity date closest to, but not beyond 90 days from the rebalance date.
3.	The Intercontinental Exchange Bank of America ("ICE BofA") US 1-Month Treasury Bill Index is comprised of a single U.S. Treasury Bill issue purchased at the beginning of each month and held for a full month, at which time that issue is sold and rolled into a newly selected issue. The issue selected each month is that having a maturity date closest to, but not beyond, one month from the rebalance date.
4.	The Morningstar category average return represents the average return for a category of funds with similar investment objectives and strategies. The average is calculated and funds are assigned to a category by Morningstar.
5.	The Bloomberg U.S. Treasury Inflation-Linked Bond Index, consists of all U.S. Treasury inflation protected securities rated investment grade or better, having at least one year to final maturity and at least $250 million par amount outstanding.
6.	The MissionSquare Retirement IncomeAdvantage Fund's custom benchmark is comprised of the market indexes of the funds in which the MissionSquare Retirement IncomeAdvantage Fund invests, in weighted percentages that correspond to the historical target allocation to those funds and the historical market indexes. Should the target allocations for the MissionSquare Retirement IncomeAdvantage Fund or the market indexes of the funds change, the percentage allocations to the corresponding indexes or the market indexes will also change.
7.	Morningstar Conservative Target Risk Index represents a portfolio of global equities, bonds and traditional inflation hedges such as commodities and TIPS. This portfolio is held in a static allocation appropriate for U.S. investors who seek below average exposure to equity market risk and returns.
8.	The Morningstar Moderate Target Risk Index represents a portfolio of global equities, bonds and traditional inflation hedges such as commodities and TIPS. This portfolio is held in a static allocation appropriate for U.S. investors who seek average exposure to equity market risk and returns.
9.	Morningstar Aggressive Target Risk Index represents a portfolio of global equities, bonds and traditional inflation hedges such as commodities and TIPS. This portfolio is held in a static allocation appropriate for U.S. investors who seek above average exposure to equity market risk and returns.
10.	The Russell 1000® Value Index measures the performance of the large-cap value segment of the U.S. equity universe. It includes those Russell 1000® Index companies with lower price-to-book ratios and lower expected growth values.
11.	The S&P 500 Index consists of 500 companies representing larger capitalization stocks traded in the U.S.
12.	The CRSP US Total Market Index consists of companies representing mega, large, small and micro capitalization stocks traded in the U.S. on the NYSE, NYSE Market, NASDAQ or ARCA.
13.	The CRSP US Small Cap Index consists of companies representing small capitalization stocks traded in the U.S. on the NYSE, NYSE Market, NASDAQ or ARCA.
14.	The MSCI Europe Australasia Far East (EAFE) Index (Net) is a free float-adjusted market capitalization index of equity securities that is designed to measure the equity market performance of developed markets, excluding the U.S. and Canada. The net version of this index reinvests dividends after the deduction of withholding taxes, using a tax rate applicable to non-resident institutional investors who do not benefit from double taxation treaties.

Your Plan's participant fee disclosure is available below. This disclosure provides plan participants with fee information on the investments and services available to your retirement plan. You can download a copy of this disclosure by clicking the print icon on this page.

This section discusses fees that may be assessed to your account, either as a participant in the plan or for services made available by the plan that you may choose to use.

Administration
Administration	up to 0.078% (annualized) on assets

Guided Pathways
Fund Advice^{1, 3}	$0 annual fee

Managed Accounts^1,2,3	0.50% on first $100,000
	0.40% on next $200,000
	0.30% on next $200,000
	0.20% on All assets over $500,000

Brokerage
Self-Directed Brokerage	$50 one-time setup fee
	(additional fees by brokerage provider also apply)

Loans
Origination, Refinance, Reamortization	$75 per application

Loan Maintenance	$50 annual fee

Loan Maintenance

$50 annual fee

ACH Reject	$20 per occurrence

ACH Reject

$20 per occurrence

Expedited Disbursement
Wire	$15 per use

Overnight Delivery	varies by delivery address

Overnight Delivery

varies by delivery address

Legal
Domestic Relations Order Processing	$250 per divorce

Some of the plan's administrative expenses for the preceding quarter were paid from the total operating expenses of one or more of the plan's investment options. The total operating expenses of each investment, which include any amount paid to offset administration, are shown in Section II Investment Related Information.

Underlying mutual fund expenses and plan administration fees still apply. Please consult the applicable disclosure materials for a description of these fees and expenses.
Managed Accounts is not suitable for all investors. Please contact our Guided Pathways® team or your MissionSquare Retirement Plan Specialist and fully read the Guided Pathways® Fund Advice and Managed Accounts Investment Advisory Agreement prior to enrolling in Managed Accounts to determine if this service is right for you.
Investment advice and analysis tools are offered to participants by MissionSquare Retirement, a federally registered investment adviser. Investment advice is the result of methodologies developed, maintained and overseen by the independent "Financial Expert" (as defined in the Department of Labor's Advisory Opinion 2001-09A) Morningstar Investment Management LLC, a registered investment adviser and subsidiary of Morningstar, Inc. Morningstar Investment Management LLC is not affiliated with MissionSquare Retirement and its affiliates. The Morningstar name and logo are registered marks of Morningstar, Inc. For additional information on our Guided Pathways Advisory Services, please refer to our Form ADV Part 2A Brochure available at www.adviserinfo.sec.gov.

This section discusses fees that may be assessed to your account, either as a participant in the plan or for services made available by the plan that you may choose to use.

Performance

Fund performance is shown comparing it to a "benchmark" which may be a (i) broad-based securities market index (ii) a group of mutual funds with similar investment objectives, or (iii) a short term government backed debt obligation such as a U.S. Treasury Bill. An index is not available for direct investment, is unmanaged, and does not reflect the costs of portfolio management or trading. A fund's portfolio may differ from the securities held in an index.

The performance displayed for each of the plan's investment options is net of fees and therefore includes the effects of the total annual operating expenses on the rate of return.

VARIABLE RETURN INVESTMENTS

PERFORMANCE AS OF 03/31/2024

Investment Option/ Benchmark/ Peer Group	Type of Option	1yr	3yr	5yr	10yr	Since Inception	Inception Date
Stable Value/Cash Management
MissionSquare PLUS Fund R10^{A, B, C}	Stable Value	2.91%	2.30%	2.29%	2.20%	-	Oct 2013
ICE BofA US 3 Month Treasury Bill Index^{1, 2}		5.24%	2.58%	2.02%	1.38%
MSQ Cash Management Fund R5^{A, B, C, D}	Cash Management	5.00%	2.42%	1.77%	1.13%	-	Mar 1999
ICE BofA US 1-Month Treasury Bill^{1, 3}		5.21%	2.57%	1.93%	1.30%
Morningstar Money Market - Taxable^{1, 4}		4.94%	2.41%	1.76%	1.14%
Bond
PIMCO Real Return Fund Institutional^{E, F, G}	Inflation-Protected Bond	1.05%	(0.59%)	2.63%	2.19%	5.08%	Jan 1997
Bloomberg U.S. Treasury Inflation-Linked Bond Index^{1, 5}		0.45%	(0.53%)	2.49%	2.21%
Morningstar Inflation-Protected Bond^{1, 4}		1.10%	(0.50%)	2.33%	1.80%
Guaranteed Lifetime Income
MissionSquare Retirement IncomeAdvantage Fund R5^{A, B, C, H}	Guaranteed Income	14.64%	3.40%	6.76%	5.68%	-	Aug 2010
Custom Benchmark⁶		15.88%	5.22%	8.62%	7.42%
Balanced/Asset Allocation
Glendale Conservative Option	Target-Risk	7.75%	0.48%	3.78%	-	3.95%	Oct 2016
Morningstar Conservative Target Risk Index^{1, 7}		5.26%	(0.68%)	2.37%	2.74%
Morningstar Conservative Allocation^{1, 4}		6.96%	0.48%	2.73%	2.88%
Glendale Moderate Option	Target-Risk	18.63%	5.09%	9.25%	-	9.28%	Oct 2016
Morningstar Moderate Target Risk Index^{1, 4, 8}		12.77%	2.64%	6.42%	5.91%
Morningstar Moderate Allocation^{1, 4}		15.19%	4.05%	7.45%	6.46%
Glendale Aggressive Option	Target-Risk	21.91%	4.80%	10.32%	-	10.78%	Oct 2016
Morningstar Aggressive Target Risk Index^{1, 9}		19.60%	5.58%	9.58%	8.30%
Morningstar Aggressive Allocation^{1, 4}		20.20%	4.91%	9.32%	7.71%
U.S. Stock
MissionSquare Equity Income Fund R5^{A, B, C, I}	Large Value	17.83%	8.14%	10.13%	7.88%	-	Mar 1999
Russell 1000 Value Index^{1, 10}		20.27%	8.11%	10.32%	9.01%
Morningstar Large Value^{1, 4}		20.70%	8.87%	10.89%	9.09%
MSQ Invesco Main Street Fund R1^{A, B, C}	Equity	28.51%	8.91%	12.79%	10.75%	-	Nov 2011
S&P 500 Index^{1, 11}		29.88%	11.49%	15.05%	12.96%
Morningstar Large Blend^{1, 4}		27.24%	9.88%	13.65%	11.45%
Vanguard Total Stock Market Index Fund Institutional^{E, G}	Large Blend	29.37%	9.64%	14.25%	12.28%	8.91%	Jul 1997
CRSP US Total Market Index^{1, 12}		29.33%	9.64%	14.25%	12.28%
Morningstar Large Blend^{1, 4}		27.24%	9.88%	13.65%	11.45%
Vanguard Small-Cap Index Fund Institutional ^{E, G, J}	Small Blend	22.53%	3.81%	10.00%	8.95%	9.09%	Jul 1997
CRSP US Small Cap Index^{1, 13}		22.42%	3.75%	9.94%	8.91%
Morningstar Small Blend^{1, 4}		18.93%	3.43%	9.33%	7.66%
International/Global Stock
MissionSquare International Fund R5^{A, B, C, K}	Foreign Large Blend	15.14%	3.50%	7.57%	5.10%	-	Mar 1999
MSCI EAFE Index (Net)^{1, 14}		15.32%	4.78%	7.33%	4.80%
Morningstar Foreign Large Blend^{1, 4}		13.54%	2.92%	6.56%	4.53%

A.	Before investing in the Fund, you should carefully consider your investment goals, tolerance for risk, investment time horizon, and personal circumstances. There is no guarantee that the Fund will meet its investment objective and you can lose money.
B.	The Fund is an investment option of VantageTrust, a group trust established and maintained by VantageTrust Company, LLC, a wholly owned subsidiary of MissionSquare Retirement. VantageTrust provides for the commingling of assets of certain trusts and plans as described in its Declaration of Trust, and is only available for investment by such eligible trusts and plans. The Fund is not a mutual fund. Its units are not deposits of VantageTrust Company and are not insured by the Federal Deposit Insurance Corporation or any other agency. The Fund is a security that has not been registered under the Securities Act of 1933 and is exempt from investment company registration under the Investment Company Act of 1940. For additional information regarding the Fund, including a description of the principal risks, please consult the Funds Disclosure Memorandum, which is available when plan administration clients log in at www.missionsq.org, at www.investments.missionsq.org for institutions, or upon request by calling 800-669-7400.
C.	When Funds are marketed to institutional clients, the Funds are offered by MissionSquare Investment Services, an SEC registered broker-dealer and FINRA member firm. MissionSquare Investment Services is a wholly-owned subsidiary of MissionSquare Retirement and is an affiliate of VantageTrust Company, LLC and MissionSquare Investments.
D.	The Fund is invested in a single registered mutual fund, the Fidelity® Money Market Government Portfolio. Investments in the fund are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. It is possible to lose money by investing in the fund.
E.	Certain information including, but not limited to, benchmark performance or other performance and/or fee information, is provided by Morningstar, Inc., © 2024 All rights reserved. This information: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of information. Morningstar is a registered trademark of Morningstar, Inc.
F.	A fixed income fund is subject to credit risk and interest rate risk. Credit risk is when an issuer of a fixed income security may be unable or unwilling to make payments of principal or interest to the holders of these securities or may declare bankruptcy. Fixed income securities fluctuate in value as interest rates change. When interest rates rise, the market prices of fixed income securities will usually decrease; when interest rates fall, the market prices of fixed income securities usually will increase.
G.	Please read the fund's prospectus or disclosure materials carefully for a complete summary of all fees, expenses, investment objectives and strategies, risks, financial highlights, and performance information. Investing involves risk, including possible loss of the amount invested. Investors should carefully consider the information contained in the prospectus or disclosure materials before investing. To request a prospectus or disclosure materials, you may contact us by calling 800-669-7400, or log in at www.missionsq.org.
H.	Empower Annuity Insurance Company (EAIC), CA COA #08003, Hartford, CT. Neither EAIC nor MissionSquare guarantees the investment performance or return on contributions to EAIC’s Separate Account. You should carefully consider the objectives, risks, charges, expenses, and underlying guarantee features before purchasing this product. EAIC may increase the Guarantee Fee in the future, from one percent up to a maximum of 1.50 percent. Like all variable investments, this Fund may lose value. Availability and terms may vary by jurisdiction; subject to regulatory approvals. Annuity contracts contain exclusions, limitations, and reductions of benefits and terms for keeping them in force. Guarantees are based on EAIC’s claims-paying ability. This annuity is issued under Contract form # GA-2020-TGWB4-0805-RC. MissionSquare provides recordkeeping services to your Plan and is the investment manager of the underlying EAIC Separate Account. EAIC or its affiliates may compensate MissionSquare for providing these and related administrative services in connection with the Fund. Before electing the Spousal Benefit (if available) on behalf of any beneficiary not recognized as your spouse under Federal law (a civil union partner), be aware that provisions of your plan or the Internal Revenue Code might prevent, limit, or otherwise affect the ability of the beneficiary to receive the Spousal Benefit. Variable annuities are suitable for long-term investing, particularly retirement savings. Empower refers to the products and services offered by Empower Annuity Insurance Company of America and its subsidiaries. This material is for informational purposes only and is not intended to provide investment, legal or tax recommendations or advice. ©2024 Empower Retirement, LLC. All rights reserved. Note: Participants who are interested in the MissionSquare Retirement IncomeAdvantage Fund must first receive and read the MissionSquare Retirement IncomeAdvantage Fund Important Considerations document before investing.
I.	Certain funds may be subject to style risk, which is the possibility that the investment style of its investment adviser will trail the returns of the overall market. In the past, different types of securities have experienced cycles of outperformance and underperformance in comparison to the market in general. For example, growth stocks have performed best during the later stages of economic expansion and value stocks have performed best during periods of economic recovery. Both styles may go in and out of favor. When the investing style used by a fund is out of favor, that fund is likely to underperform other funds that use investing styles that are in favor.
J.	Funds that invest primarily in small-capitalization companies involve greater risk than is customarily associated with investments in larger, more established companies. Equity securities of small-capitalization companies are generally subject to greater price volatility than those of larger companies due to less certain growth prospects, the lower degree of liquidity in the markets for their securities, and the greater sensitivity of smaller companies to changing economic conditions. Also, small-capitalization companies may have more limited product lines, fewer capital resources and less experienced management than larger companies.
K.	Funds that invest in foreign securities are exposed to the risk of loss due to political, economic, legal, regulatory, and operational uncertainties; differing accounting and financial reporting standards; limited availability of information; currency fluctuations; and higher transaction costs. Investments in foreign currencies or securities denominated in foreign currencies (including derivative instruments that provide exposure to foreign currencies) may experience gains or losses solely based on changes in the exchange rate between foreign currencies and the U.S. dollar. The risk of investing in foreign securities may be greater with respect to securities of companies located in emerging market countries. The value of developing or emerging market currencies may fluctuate more than the currencies of companies with more mature markets.

1.	Certain information including, but not limited to, benchmark performance or other performance and/or fee information, is provided by Morningstar, Inc., © 2024 All rights reserved. This information: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of information. Morningstar is a registered trademark of Morningstar, Inc.
2.	The Intercontinental Exchange Bank of America ("ICE BofA") US Treasury Bill 3 Month Index is comprised of a single U.S. Treasury Bill issue purchased at the beginning of each month and held for a full month, at which time that issue is sold and rolled into a newly selected issue. The issue selected each month is that having a maturity date closest to, but not beyond 90 days from the rebalance date.
3.	The Intercontinental Exchange Bank of America ("ICE BofA") US 1-Month Treasury Bill Index is comprised of a single U.S. Treasury Bill issue purchased at the beginning of each month and held for a full month, at which time that issue is sold and rolled into a newly selected issue. The issue selected each month is that having a maturity date closest to, but not beyond, one month from the rebalance date.
4.	The Morningstar category average return represents the average return for a category of funds with similar investment objectives and strategies. The average is calculated and funds are assigned to a category by Morningstar.
5.	The Bloomberg U.S. Treasury Inflation-Linked Bond Index, consists of all U.S. Treasury inflation protected securities rated investment grade or better, having at least one year to final maturity and at least $250 million par amount outstanding.
6.	The MissionSquare Retirement IncomeAdvantage Fund's custom benchmark is comprised of the market indexes of the funds in which the MissionSquare Retirement IncomeAdvantage Fund invests, in weighted percentages that correspond to the historical target allocation to those funds and the historical market indexes. Should the target allocations for the MissionSquare Retirement IncomeAdvantage Fund or the market indexes of the funds change, the percentage allocations to the corresponding indexes or the market indexes will also change.
7.	Morningstar Conservative Target Risk Index represents a portfolio of global equities, bonds and traditional inflation hedges such as commodities and TIPS. This portfolio is held in a static allocation appropriate for U.S. investors who seek below average exposure to equity market risk and returns.
8.	The Morningstar Moderate Target Risk Index represents a portfolio of global equities, bonds and traditional inflation hedges such as commodities and TIPS. This portfolio is held in a static allocation appropriate for U.S. investors who seek average exposure to equity market risk and returns.
9.	Morningstar Aggressive Target Risk Index represents a portfolio of global equities, bonds and traditional inflation hedges such as commodities and TIPS. This portfolio is held in a static allocation appropriate for U.S. investors who seek above average exposure to equity market risk and returns.
10.	The Russell 1000® Value Index measures the performance of the large-cap value segment of the U.S. equity universe. It includes those Russell 1000® Index companies with lower price-to-book ratios and lower expected growth values.
11.	The S&P 500 Index consists of 500 companies representing larger capitalization stocks traded in the U.S.
12.	The CRSP US Total Market Index consists of companies representing mega, large, small and micro capitalization stocks traded in the U.S. on the NYSE, NYSE Market, NASDAQ or ARCA.
13.	The CRSP US Small Cap Index consists of companies representing small capitalization stocks traded in the U.S. on the NYSE, NYSE Market, NASDAQ or ARCA.
14.	The MSCI Europe Australasia Far East (EAFE) Index (Net) is a free float-adjusted market capitalization index of equity securities that is designed to measure the equity market performance of developed markets, excluding the U.S. and Canada. The net version of this index reinvests dividends after the deduction of withholding taxes, using a tax rate applicable to non-resident institutional investors who do not benefit from double taxation treaties.

Fees and expenses

The fees and expenses table below discloses total annual operating expenses for the plan's investment options as well as any shareholder-type fees or trading restrictions. The total annual operating expenses of these investment options reduce their rate of return.

The cumulative effect of fees and expenses can substantially reduce the growth of your retirement savings. Fees and expenses are only one of many factors to consider when you decide to invest in an option. You may also want to think about whether an investment in a particular option, along with your other investments, will help you achieve your financial goals.

FEES AND EXPENSES AS OF 03/31/2024

Investment Option	Type of Option	Gross Expense Ratio	Net Expense Ratio	Total Annual Operating Expense (per $1000)	Other fees or restrictionsⁱ
Stable Value/Cash Management
MissionSquare PLUS Fund R10^{A, B, C}	Stable Value	0.52%	0.52%	$5.20	90 day equity wash
MSQ Cash Management Fund R5^{A, B, C, D, II}	Cash Management	0.46%	0.43%	$4.30
Bond
PIMCO Real Return Fund Institutional^{E, F, G, III}	Inflation-Protected Bond	0.67%	0.67%	$6.70
Guaranteed Lifetime Income
MissionSquare Retirement IncomeAdvantage Fund R5^{A, B, C, H}	Guaranteed Income	1.67%	1.67%	$16.70	Any $ / 90 days
Balanced/Asset Allocation
Glendale Conservative Option	Target-Risk	0.30%	0.30%	$3.00
Glendale Moderate Option	Target-Risk	0.29%	0.29%	$2.90
Glendale Aggressive Option	Target-Risk	0.30%	0.30%	$3.00
U.S. Stock
MissionSquare Equity Income Fund R5^{A, B, C, I}	Large Value	0.75%	0.75%	$7.50
MSQ Invesco Main Street Fund R1^{A, B, C}	Equity	1.12%	1.12%	$11.20
Vanguard Total Stock Market Index Fund Institutional^{E, G, III}	Large Blend	0.03%	0.03%	$0.30
Vanguard Small-Cap Index Fund Institutional ^{E, G, III, J}	Small Blend	0.04%	0.04%	$0.40
International/Global Stock
MissionSquare International Fund R5^{A, B, C, K}	Foreign Large Blend	0.95%	0.95%	$9.50	Any $ / 90 days

Frequent trading rules are designed to detect and discourage trading activities that may increase costs to all investors. All funds or underlying funds are monitored for frequent trading. Certain funds or underlying funds may impose fees or restrictions to deter frequent trading. Current information about these fees or restrictions can be found in a fund's or underlying fund's prospectus or disclosure materials, and is available when you log in at www.missionsq.org or by calling 800-669-7400. You can obtain information about MissionSquare Retirement's Frequent Trading Policy at www.missionsq.org/frequenttrading.

A.	Before investing in the Fund, you should carefully consider your investment goals, tolerance for risk, investment time horizon, and personal circumstances. There is no guarantee that the Fund will meet its investment objective and you can lose money.
B.	The Fund is an investment option of VantageTrust, a group trust established and maintained by VantageTrust Company, LLC, a wholly owned subsidiary of MissionSquare Retirement. VantageTrust provides for the commingling of assets of certain trusts and plans as described in its Declaration of Trust, and is only available for investment by such eligible trusts and plans. The Fund is not a mutual fund. Its units are not deposits of VantageTrust Company and are not insured by the Federal Deposit Insurance Corporation or any other agency. The Fund is a security that has not been registered under the Securities Act of 1933 and is exempt from investment company registration under the Investment Company Act of 1940. For additional information regarding the Fund, including a description of the principal risks, please consult the Funds Disclosure Memorandum, which is available when plan administration clients log in at www.missionsq.org, at www.investments.missionsq.org for institutions, or upon request by calling 800-669-7400.
C.	When Funds are marketed to institutional clients, the Funds are offered by MissionSquare Investment Services, an SEC registered broker-dealer and FINRA member firm. MissionSquare Investment Services is a wholly-owned subsidiary of MissionSquare Retirement and is an affiliate of VantageTrust Company, LLC and MissionSquare Investments.
D.	The Fund is invested in a single registered mutual fund, the Fidelity® Money Market Government Portfolio. Investments in the fund are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. It is possible to lose money by investing in the fund.
E.	Certain information including, but not limited to, benchmark performance or other performance and/or fee information, is provided by Morningstar, Inc., © 2024 All rights reserved. This information: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of information. Morningstar is a registered trademark of Morningstar, Inc.
F.	A fixed income fund is subject to credit risk and interest rate risk. Credit risk is when an issuer of a fixed income security may be unable or unwilling to make payments of principal or interest to the holders of these securities or may declare bankruptcy. Fixed income securities fluctuate in value as interest rates change. When interest rates rise, the market prices of fixed income securities will usually decrease; when interest rates fall, the market prices of fixed income securities usually will increase.
G.	Please read the fund's prospectus or disclosure materials carefully for a complete summary of all fees, expenses, investment objectives and strategies, risks, financial highlights, and performance information. Investing involves risk, including possible loss of the amount invested. Investors should carefully consider the information contained in the prospectus or disclosure materials before investing. To request a prospectus or disclosure materials, you may contact us by calling 800-669-7400, or log in at www.missionsq.org.
H.	Empower Annuity Insurance Company (EAIC), CA COA #08003, Hartford, CT. Neither EAIC nor MissionSquare guarantees the investment performance or return on contributions to EAIC’s Separate Account. You should carefully consider the objectives, risks, charges, expenses, and underlying guarantee features before purchasing this product. EAIC may increase the Guarantee Fee in the future, from one percent up to a maximum of 1.50 percent. Like all variable investments, this Fund may lose value. Availability and terms may vary by jurisdiction; subject to regulatory approvals. Annuity contracts contain exclusions, limitations, and reductions of benefits and terms for keeping them in force. Guarantees are based on EAIC’s claims-paying ability. This annuity is issued under Contract form # GA-2020-TGWB4-0805-RC. MissionSquare provides recordkeeping services to your Plan and is the investment manager of the underlying EAIC Separate Account. EAIC or its affiliates may compensate MissionSquare for providing these and related administrative services in connection with the Fund. Before electing the Spousal Benefit (if available) on behalf of any beneficiary not recognized as your spouse under Federal law (a civil union partner), be aware that provisions of your plan or the Internal Revenue Code might prevent, limit, or otherwise affect the ability of the beneficiary to receive the Spousal Benefit. Variable annuities are suitable for long-term investing, particularly retirement savings. Empower refers to the products and services offered by Empower Annuity Insurance Company of America and its subsidiaries. This material is for informational purposes only and is not intended to provide investment, legal or tax recommendations or advice. ©2024 Empower Retirement, LLC. All rights reserved. Note: Participants who are interested in the MissionSquare Retirement IncomeAdvantage Fund must first receive and read the MissionSquare Retirement IncomeAdvantage Fund Important Considerations document before investing.
I.	Certain funds may be subject to style risk, which is the possibility that the investment style of its investment adviser will trail the returns of the overall market. In the past, different types of securities have experienced cycles of outperformance and underperformance in comparison to the market in general. For example, growth stocks have performed best during the later stages of economic expansion and value stocks have performed best during periods of economic recovery. Both styles may go in and out of favor. When the investing style used by a fund is out of favor, that fund is likely to underperform other funds that use investing styles that are in favor.
J.	Funds that invest primarily in small-capitalization companies involve greater risk than is customarily associated with investments in larger, more established companies. Equity securities of small-capitalization companies are generally subject to greater price volatility than those of larger companies due to less certain growth prospects, the lower degree of liquidity in the markets for their securities, and the greater sensitivity of smaller companies to changing economic conditions. Also, small-capitalization companies may have more limited product lines, fewer capital resources and less experienced management than larger companies.
K.	Funds that invest in foreign securities are exposed to the risk of loss due to political, economic, legal, regulatory, and operational uncertainties; differing accounting and financial reporting standards; limited availability of information; currency fluctuations; and higher transaction costs. Investments in foreign currencies or securities denominated in foreign currencies (including derivative instruments that provide exposure to foreign currencies) may experience gains or losses solely based on changes in the exchange rate between foreign currencies and the U.S. dollar. The risk of investing in foreign securities may be greater with respect to securities of companies located in emerging market countries. The value of developing or emerging market currencies may fluctuate more than the currencies of companies with more mature markets.

II.

Differences between the net and gross expense ratios of a fund are typically due to fee waivers, expense reimbursements, and/or expense limits.

III.

Annuity information

The table below focuses on the annuity options under the plan. Annuities are insurance contracts that provide a guaranteed stream of payments at regular intervals. Annuities are issued by insurance companies. Guarantees of an insurance company are subject to its long-term financial strength and claims-paying ability.

Investment: MissionSquare Retirement IncomeAdvantage Fund R5

Website

www.icmarc.org

Objectives / Goals

To seek both moderate capital growth and current income while providing a guaranteed lifetime income feature that protects retirement income against market downturns.

Pricing Factors

The Fund invests in a Separate Account under a group variable annuity contract issued by Prudential Retirement Insurance and Annuity Company (Prudential). The Fund allows you to receive a guaranteed minimum withdrawal benefit amount each year beginning when you lock in and lasting for the rest of your life. The income guarantees are provided by Prudential. Guarantees of Prudential are subject to its long-term financial strength and claims-paying ability. For more detailed information about the Fund and its guarantees, refer to the Fund's "Important Considerations" document.

Fees / Restrictions

Total Annual Operating Fees and Expenses
Guarantee fee	1.00%
Services fee	0.34%
Investment management fee	0.05%
Other separate account fees and expenses	0.27%
Annual VantageTrust operating expenses	0.01%
Plan administration fee	0.00%
Gross Expenses	1.67%
Net Expenses	1.67%

If you choose to include the spousal benefit, the withdrawal rate used to determine your Lifetime Annual Withdrawal Amount ("LAWA") will be reduced by 0.50%.

You can choose to 'lock-in' and start taking annual guaranteed withdrawals at age 65 with the full annual benefit of 5% of your Income Base, at age 70 with an enhanced annual benefit of 5.75% of your Income Base, or as early as age 55 with a reduced annual benefit of 4.25% of your Income Base.

Excess withdrawals made during a withdrawal period will permanently reduce the LAWA available to you for subsequent withdrawal periods. If excess withdrawals reduce your Income Base to zero, Prudential is no longer obligated to make these withdrawals available to you.

If you transfer assets out of the MissionSquare Retirement IncomeAdvantage Fund prior to locking-in, you will not be eligible to transfer assets back into the Fund for a period of 90 days. After locking-in, only a transfer out of the Fund in excess of your LAWA will result in you being restricted from transferring assets back into the Fund for a period of 90 days. Additional information is available in the MissionSquare Retirement IncomeAdvantage Fund Important Considerations document.

CITY OF GLENDALE - 300003

CITY OF GLENDALE - 300003