Investment Performance

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PERFORMANCE UPDATE  
 
HARTFORD PUBLIC SCHOOLS 403B  
 
Average Annual Total Returns as of 08/31/2022    (shown in percentages)  

 Variable annuities and mutual funds offered through a retirement plan are intended as long-term investments designed for retirement purposes. Money distributed from a 403(b) plan, 401(a)/(k) plan, or a 457 plan will be taxed as ordinary income in the year the money is distributed. Early withdrawals from a 403(b) plan and a 401(a)/(k) plan, if taken prior to age 59 1/2, will be subject to the IRS 10% premature distribution penalty tax, unless an exception applies. This IRS premature distribution penalty tax does not apply to 457 plans. Account values fluctuate with market conditions, and when surrendered the principal may be worth more or less than the original amount invested. 

 The performance data quoted represents past performance.  Past performance does not guarantee future results.  For month-end performance which may be lower or higher than the performance data shown please call 800-584-6001.  Investment return and principal value of an investment will fluctuate so that, when sold, an investment may be worth more or less than the original cost.  

 The returns assume reinvestment of all dividends (ordinary income and capital gains) and are net of management fees and other fund operating expenses. Voya will assess an annual administrative fee of 0.06% to all investment options including balances held in the Voya Fixed Plus Account III. This fee is deducted from your account monthly and will be pro-rated across balances held in each of the investment options.  A separate annual fee of $25.00 will be deducted quarterly ($6.25 per quarter) from all investment options which reimburses the plan for its cost to operate. These returns do not reflect any plan level administrative fees, if applicable; if reflected, returns would be less favorable. The performance data shown below also does not reflect an expense reimbursement which may be applied to participant accounts on a monthly basis.  If this expense reimbursement did apply and had been reflected, the performance data shown for each option would have been higher.  Please contact your local representative for more information.  

 You should consider the investment objectives, risks and charges, and expenses of the funds carefully before investing.  The prospectus contains this and other information.  Anyone who wishes to obtain a free copy of the fund prospectuses may call their Voya representative or the number above.  Please read the prospectus carefully before investing. 

 Returns less than one year are not annualized.  Fund Inception Date is the date of inception for the underlying fund, and is the date used in calculating the periodic returns.  This date may also precede the portfolio's inclusion in the product. 


 Investment Options 1-Mo 3-Mo YTD 1-Yr 3-Yr 5-Yr10-Yr InceptFund Inception Date Gross Fund Exp %* Net Fund Exp %* 
Stability of Principal   
   Stability of Principal 
Voya Fixed Plus Account III - 4020 (1)(9)0.170.501.332.072.292.492.82   
Bonds   
   Emerging Markets Bond 
TCW Emerging Markets Income Fund - Class I - 6383 -1.17-5.32-17.29-21.25-5.31-1.861.3506/01/19980.85 0.85  
   Inflation-Protected Bond 
Vanguard� Inflation-Protected Securities Fund-Admiral™ Sh - 7925 -2.60-1.66-7.29-5.952.633.101.6306/10/20050.10 0.10  
   Intermediate Core Bond 
Western Asset Core Bond Fund - Class IS - 6081 (10)-3.07-2.79-14.01-15.02-2.570.341.8308/29/20080.43 0.43  
   Multisector Bond 
PIMCO Income Fund - Institutional Class - 3524 -1.14-1.29-7.36-7.201.272.134.8103/30/20070.51 0.51  
Asset Allocation   
   Lifecycle - Index 
Vanguard� Target Retirement 2020 Fund - 1296 (2)-3.19-3.50-12.80-12.333.644.456.3406/07/20060.08 0.08  
Vanguard� Target Retirement 2025 Fund - 926 (2)-3.44-4.02-14.41-13.784.244.906.9610/27/20030.08 0.08  
Vanguard� Target Retirement 2030 Fund - 1297 (2)-3.58-4.38-15.25-14.454.955.357.5406/07/20060.08 0.08  
Vanguard� Target Retirement 2035 Fund - 793 (2)-3.60-4.61-15.73-14.755.755.868.1410/27/20030.08 0.08  
Vanguard� Target Retirement 2040 Fund - 1298 (2)-3.69-4.89-16.27-15.116.536.338.6206/07/20060.08 0.08  
Vanguard� Target Retirement 2045 Fund - 794 (2)-3.75-5.18-16.81-15.487.326.768.8910/27/20030.08 0.08  
Vanguard� Target Retirement 2050 Fund - 1299 (2)-3.78-5.28-16.99-15.617.356.788.9006/07/20060.08 0.08  
Vanguard� Target Retirement 2055 Fund - 2473 (2)-3.77-5.27-16.99-15.597.346.778.8808/18/20100.08 0.08  
Vanguard� Target Retirement 2060 Fund - 3447 (2)-3.76-5.27-16.99-15.587.346.778.8801/19/20120.08 0.08  
Vanguard� Target Retirement 2065 Fund - 8995 (2)(3)-3.76-5.23-16.93-15.557.326.746.9707/12/20170.08 0.08  
Vanguard� Target Retirement 2070 Fund - F690 (2)-3.791.6006/17/20220.08 0.08  
Vanguard� Target Retirement Income Fund - 795 (2)-3.04-2.90-11.17-10.951.933.163.9910/27/20030.08 0.08  
Large Cap Value/Blend   
   Large Blend 
Hartford Core Equity Fund - Class R6 - 7902 (4)-3.35-3.20-16.82-12.6310.8911.9513.6304/30/19980.36 0.36  
Northern Funds Large Cap Core Fund - D656 -3.85-4.83-14.45-9.5012.5310.7312.0812/16/20050.55 0.45  
Vanguard� 500 Index Fund - Admiral™ Shares - 899 -4.08-3.89-16.17-11.2712.3611.7913.0411/13/20000.04 0.04  
   Large Value 
Vanguard� Equity Income Fund - Admiral™ Shares - 7926 -2.31-6.06-5.08-0.3310.769.7711.4808/13/20010.19 0.19  
Large Cap Growth   
   Large Growth 
Alger Capital Appreciation Institutional Fund - Class Y - C334 (5)-4.23-1.73-28.95-29.269.4411.0613.1911/08/19930.79 0.75  
Baron Partners Fund - R6 Shares - D310 -4.725.29-23.11-7.1443.1829.8923.6704/30/20031.11 1.11  
T. Rowe Price Growth Stock Fund - I Class - 8712 -5.14-2.36-32.26-32.866.769.0312.8904/11/19500.51 0.51  
Small/Mid/Specialty   
   Mid-Cap Blend 
Carillon Scout Mid Cap Fund - Class R-6 - C678 -2.95-7.45-14.97-13.9910.098.9511.6410/31/20060.86 0.86  
Vanguard� Mid-Cap Index Fund - Admiral™ Shares - 756 -2.97-3.64-17.26-14.389.949.3711.8311/12/20010.05 0.05  
   Mid-Cap Growth 
Invesco Discovery Mid Cap Growth Fund - Class R6 - 9661 -1.541.21-26.71-26.468.5611.9212.4708/15/19860.65 0.65  
   Mid-Cap Value 
Victory Sycamore Established Value Fund - Class R6 - 6595 -3.10-5.06-6.19-3.0713.7911.1813.3208/16/19830.54 0.54  
   Small Blend 
JPMorgan Small Cap Equity Fund - Class R6 Shares - 9734 (6)-4.37-2.31-16.52-14.597.948.4011.1312/20/19940.75 0.74  
Vanguard� Small-Cap Index Fund - Admiral™ Shares - 757 -2.60-2.42-15.63-15.099.068.4410.9811/13/20000.05 0.05  
   Small Growth 
ClearBridge Small Cap Growth Fund - Class IS - 3497 -2.210.95-26.98-28.327.9211.6511.9207/01/19980.77 0.77  
Virtus KAR Small-Cap Growth - Class R6 - C544 -4.85-0.13-24.42-26.245.9414.1716.5906/28/20060.98 0.98  
   Small Value 
Allspring Special Small Cap Value Fund - Class R6 - 8051 -3.76-5.43-12.80-9.458.807.4310.7105/07/19930.85 0.85  
Global / International   
   Diversified Emerging Mkts 
Invesco Developing Markets Fund - Class R6 - 3502 -1.78-5.62-24.94-30.01-2.58-1.022.6211/17/19960.81 0.81  
   Foreign Large Blend 
MFS� International Diversification Fund - Class R6 - C380 (7)-4.77-7.85-20.38-21.153.323.686.1409/30/20040.75 0.73  
Vanguard� Total International Stock Index Fund - Adm™ Sh - 9889 -4.05-8.84-18.60-19.723.281.784.7804/29/19960.11 0.11  
   Foreign Small/Mid Blend 
Goldman Sachs International Small Cap Insights Fd - Inst Sh - 6888 (8)-5.91-10.73-21.59-24.962.130.286.9209/28/20070.92 0.87  
 The risks of investing in small company stocks may include relatively low trading volumes, a greater degree of change in earnings and greater short-term volatility. 
 Foreign investing involves special risks such as currency fluctuation and public disclosure, as well as economic and political risks. 
 Some of the Funds invest in securities guaranteed by the U.S. Government as to the timely payment of principal and interest; however, shares of the Funds are not insured nor guaranteed. 
 High yielding fixed-income securities generally are subject to greater market fluctuations and risks of loss of income and principal than are investments in lower yielding fixed-income securities. 
 Sector funds may involve greater-than average risk and are often more volatile than funds holding a diversified portfolio of stocks in many industries. Examples include: banking, biotechnology, chemicals, energy, environmental services, natural resources, precious metals, technology, telecommunications, and utilities. 
 *The Gross Expense Ratios shown do not reflect temporary fee or expense waivers that may be in effect for a fund. The Net Expense Ratios reflect any applicable temporary fee or expense waivers. The performance of a fund with a temporary fee or expense waiver would have been lower if the gross fund fees/expenses listed had been reflected. 



PERFORMANCE UPDATE  
 
HARTFORD PUBLIC SCHOOLS 403B  
 
Average Annual Total Returns as of 06/30/2022    (shown in percentages)  

 Variable annuities and mutual funds offered through a retirement plan are intended as long-term investments designed for retirement purposes. Money distributed from a 403(b) plan, 401(a)/(k) plan, or a 457 plan will be taxed as ordinary income in the year the money is distributed. Early withdrawals from a 403(b) plan and a 401(a)/(k) plan, if taken prior to age 59 1/2, will be subject to the IRS 10% premature distribution penalty tax, unless an exception applies. This IRS premature distribution penalty tax does not apply to 457 plans. Account values fluctuate with market conditions, and when surrendered the principal may be worth more or less than the original amount invested. 

 The performance data quoted represents past performance.  Past performance does not guarantee future results.  For month-end performance which may be lower or higher than the performance data shown please call 800-584-6001.  Investment return and principal value of an investment will fluctuate so that, when sold, an investment may be worth more or less than the original cost.  

 The returns assume reinvestment of all dividends (ordinary income and capital gains) and are net of management fees and other fund operating expenses. Voya will assess an annual administrative fee of 0.06% to all investment options including balances held in the Voya Fixed Plus Account III. This fee is deducted from your account monthly and will be pro-rated across balances held in each of the investment options.  A separate annual fee of $25.00 will be deducted quarterly ($6.25 per quarter) from all investment options which reimburses the plan for its cost to operate. These returns do not reflect any plan level administrative fees, if applicable; if reflected, returns would be less favorable. The performance data shown below also does not reflect an expense reimbursement which may be applied to participant accounts on a monthly basis.  If this expense reimbursement did apply and had been reflected, the performance data shown for each option would have been higher.  Please contact your local representative for more information.  

 Returns less than one year are not annualized.  Fund Inception Date is the date of inception for the underlying fund, and is the date used in calculating the periodic returns.  This date may also precede the portfolio's inclusion in the product. 


 Investment Options 1-Mo 3-Mo YTD 1-Yr 3-Yr 5-Yr10-Yr InceptFund Inception Date Gross Fund Exp %* Net Fund Exp %* 
Stability of Principal   
   Stability of Principal 
Voya Fixed Plus Account III - 4020 (1)(9)0.160.490.992.102.332.522.85   
Bonds   
   Emerging Markets Bond 
TCW Emerging Markets Income Fund - Class I - 6383 -7.17-12.44-18.91-22.01-5.81-1.611.6806/01/19980.85 0.85  
   Inflation-Protected Bond 
Vanguard� Inflation-Protected Securities Fund-Admiral™ Sh - 7925 -3.05-6.03-8.60-5.033.013.121.6506/10/20050.10 0.10  
   Intermediate Core Bond 
Western Asset Core Bond Fund - Class IS - 6081 (10)-2.48-6.46-13.73-13.70-1.620.722.0608/29/20080.43 0.43  
   Multisector Bond 
PIMCO Income Fund - Institutional Class - 3524 -3.22-5.18-9.17-8.490.332.045.0803/30/20070.51 0.51  
Asset Allocation   
   Lifecycle - Index 
Vanguard� Target Retirement 2020 Fund - 1296 (2)-4.60-9.20-13.80-11.653.354.646.5106/07/20060.08 0.08  
Vanguard� Target Retirement 2025 Fund - 926 (2)-5.40-10.72-15.63-13.213.745.077.1010/27/20030.08 0.08  
Vanguard� Target Retirement 2030 Fund - 1297 (2)-5.96-11.67-16.66-13.944.225.507.6806/07/20060.08 0.08  
Vanguard� Target Retirement 2035 Fund - 793 (2)-6.46-12.41-17.37-14.364.805.968.2710/27/20030.08 0.08  
Vanguard� Target Retirement 2040 Fund - 1298 (2)-6.95-13.17-18.08-14.825.356.428.7406/07/20060.08 0.08  
Vanguard� Target Retirement 2045 Fund - 794 (2)-7.47-13.93-18.82-15.295.896.808.9710/27/20030.08 0.08  
Vanguard� Target Retirement 2050 Fund - 1299 (2)-7.64-14.21-19.06-15.455.916.818.9706/07/20060.08 0.08  
Vanguard� Target Retirement 2055 Fund - 2473 (2)-7.65-14.19-19.07-15.455.896.808.9508/18/20100.08 0.08  
Vanguard� Target Retirement 2060 Fund - 3447 (2)-7.65-14.19-19.07-15.445.896.798.9601/19/20120.08 0.08  
Vanguard� Target Retirement 2065 Fund - 8995 (2)(3)-7.63-14.20-19.03-15.405.866.6707/12/20170.08 0.08  
Vanguard� Target Retirement 2070 Fund - F690 (2)-1.0006/17/20220.08 0.08  
Vanguard� Target Retirement Income Fund - 795 (2)-3.58-7.37-11.79-10.142.093.344.1210/27/20030.08 0.08  
Large Cap Value/Blend   
   Large Blend 
Hartford Core Equity Fund - Class R6 - 7902 (4)-7.69-15.16-20.68-12.349.3911.3513.5204/30/19980.36 0.36  
Northern Funds Large Cap Core Fund - D656 -8.98-15.21-18.18-8.2710.2310.1212.0312/16/20050.55 0.45  
Vanguard� 500 Index Fund - Admiral™ Shares - 899 -8.26-16.11-19.98-10.6610.5611.2712.9211/13/20000.04 0.04  
   Large Value 
Vanguard� Equity Income Fund - Admiral™ Shares - 7926 -8.27-8.36-7.310.519.429.5611.5608/13/20010.19 0.19  
Large Cap Growth   
   Large Growth 
Alger Capital Appreciation Institutional Fund - Class Y - C334 (5)-8.71-24.61-33.99-30.536.7010.7012.8711/08/19930.79 0.75  
Baron Partners Fund - R6 Shares - D310 -10.45-30.54-34.60-17.5035.4525.7521.9804/30/20031.11 1.11  
T. Rowe Price Growth Stock Fund - I Class - 8712 -8.62-25.40-36.60-34.114.368.7012.5204/11/19500.51 0.51  
Small/Mid/Specialty   
   Mid-Cap Blend 
Carillon Scout Mid Cap Fund - Class R-6 - C678 -10.17-16.92-17.47-14.828.348.6211.5610/31/20060.86 0.86  
Vanguard� Mid-Cap Index Fund - Admiral™ Shares - 756 -9.40-16.96-22.21-16.007.198.2811.4811/12/20010.05 0.05  
   Mid-Cap Growth 
Invesco Discovery Mid Cap Growth Fund - Class R6 - 9661 -8.00-19.78-33.38-27.386.2510.5111.6908/15/19860.65 0.65  
   Mid-Cap Value 
Victory Sycamore Established Value Fund - Class R6 - 6595 -9.70-11.23-10.78-4.1611.2510.2112.8808/16/19830.54 0.54  
   Small Blend 
JPMorgan Small Cap Equity Fund - Class R6 Shares - 9734 (6)-6.75-13.99-20.31-16.765.727.0110.8312/20/19940.75 0.74  
Vanguard� Small-Cap Index Fund - Admiral™ Shares - 757 -9.39-16.88-21.65-20.755.406.8810.4511/13/20000.05 0.05  
   Small Growth 
ClearBridge Small Cap Growth Fund - Class IS - 3497 -6.01-20.65-32.01-32.234.6310.1311.3707/01/19980.77 0.77  
Virtus KAR Small-Cap Growth - Class R6 - C544 -3.34-13.42-26.85-25.295.1814.6216.3506/28/20060.98 0.98  
   Small Value 
Allspring Special Small Cap Value Fund - Class R6 - 8051 -8.41-12.01-15.55-12.166.326.1210.2605/07/19930.85 0.85  
Global / International   
   Diversified Emerging Mkts 
Invesco Developing Markets Fund - Class R6 - 3502 -6.02-11.36-25.26-34.86-4.190.432.7711/17/19960.81 0.81  
   Foreign Large Blend 
MFS� International Diversification Fund - Class R6 - C380 (7)-7.66-12.36-20.22-19.602.374.336.5209/30/20040.75 0.73  
Vanguard� Total International Stock Index Fund - Adm™ Sh - 9889 -8.34-12.86-18.16-18.942.002.715.1704/29/19960.11 0.11  
   Foreign Small/Mid Blend 
Goldman Sachs International Small Cap Insights Fd - Inst Sh - 6888 (8)-10.40-15.35-21.30-21.251.151.407.3209/28/20070.92 0.87  
 The risks of investing in small company stocks may include relatively low trading volumes, a greater degree of change in earnings and greater short-term volatility. 
 Foreign investing involves special risks such as currency fluctuation and public disclosure, as well as economic and political risks. 
 Some of the Funds invest in securities guaranteed by the U.S. Government as to the timely payment of principal and interest; however, shares of the Funds are not insured nor guaranteed. 
 High yielding fixed-income securities generally are subject to greater market fluctuations and risks of loss of income and principal than are investments in lower yielding fixed-income securities. 
 Sector funds may involve greater-than average risk and are often more volatile than funds holding a diversified portfolio of stocks in many industries. Examples include: banking, biotechnology, chemicals, energy, environmental services, natural resources, precious metals, technology, telecommunications, and utilities. 
 *The Gross Expense Ratios shown do not reflect temporary fee or expense waivers that may be in effect for a fund. The Net Expense Ratios reflect any applicable temporary fee or expense waivers. The performance of a fund with a temporary fee or expense waiver would have been lower if the gross fund fees/expenses listed had been reflected. 


ADDITIONAL NOTES 
(1) The current rate for the Voya Fixed Plus Account III MC 925, Fund 4020 is 2.00%, expressed as an annual effective yield. The current rate may change and be higher or lower than the previously identified rate but is guaranteed not to be less than 1.00%. VRIAC will not apply a decrease to the current rate following a rate change initiated solely by us prior to the last day of the three-month period measured from the first day of the month in which such change was effective. Note: The current rate for an initial investment in the fixed account previously identified may be in effect for less than a full three-month period. 

 Voya Fixed Plus Account III - Voya will credit interest at an annual effective rate of at least 3.60% until August 31, 2020; 3.25% until August 31, 2021; 2.25% until August 31, 2022 and 2.00% until August 31, 2024. Each of these is higher than - or equal to - the standard Voya Fixed Plus Account III credited rate which is currently 2.00%. Beginning in September 2024 and thereafter, the credited rate for your plan will be the same as the standard Voya Fixed Plus Account III credited rate in effect at that time. Please note the Guaranteed Minimum Interest Rate is 1.00%. Guarantees are based on the claims-paying ability of Voya Retirement Insurance and Annuity Company. Restrictions may apply to transfers of funds from the Voya Fixed Plus Account III to other contract investment options. Please refer to your product prospectus / disclosure booklet or call Voya at (800) 584-6001 for more information. 

(2) Investments in Target Retirement Funds are subject to the risks of their underlying funds. The year in the fund name refers to the approximate year (the target date) when an investor in the fund would retire and leave the work force. The fund will gradually shift its emphasis from more aggressive investments to more conservative ones based on its target date. An investment in the Target Retirement Fund is not guaranteed at any time, including on or after the target date. 
(3) Vanguard Target Retirement Funds:  Investments in Target Retirement Funds are subject to the risks of their underlying funds. The year in the fund name refers to the approximate year (the target date) when an investor in the fund would retire and leave the workforce. The fund will gradually shift its emphasis from more aggressive investments to more conservative ones based on its target date. An investment in a Target Retirement Fund is not guaranteed at any time, including on or after the target date.
These fund suggestions are based on an estimated retirement age of approximately 65. Should you choose to retire significantly earlier or later, you may want to consider a fund with an asset allocation more appropriate to your particular situation.

All investing is subject to risk, including the possible loss of the money you invest. Diversification does not ensure a profit or protect against a loss. Investments in bonds are subject to interest rate, credit, and inflation risk.
 
(4) Hartford Core Equity Fund - Class R6: Hartford Funds Management Company, LLC (the "Investment Manager") has contractually agreed to reimburse expenses (exclusive of taxes, interest expenses, brokerage commissions, acquired fund fees and expenses and extraordinary expenses) to the extent necessary to maintain total annual fund operating expenses as 0.45%. Each contractual arrangement will remain in effect until February 28, 2018, and shall renew automatically for one-year terms thereafter unless the Investment Manager or HASCO, respectively, provides written notice of termination prior to the start of the next term or upon approval of the Board of Directors of The Hartford Mutual Funds, Inc. HASCO has contractually agreed to reimburse all transfer agency fees until February 28, 2018. 

(5) Alger Capital Appreciation Institutional Fund - Class Y: The Fund and Fred Alger Management, LLC (the Manager) have adopted fee breakpoints for the Fund. The advisory fee for assets up to $2 billion is .81%, for assets between $2 billion and $3 billion is .65%, for assets between $3 billion and $4 billion is .60%, for assets between $4 billion and $5 billion is .55%, and for assets in excess of $5 billion is .45%. The actual rate paid as a percentage of average daily net assets for the year ended October 31, 2021 was .72%. The Manager has contractually agreed to waive fees or to reimburse Fund expenses (excluding acquired fund fees and expenses, dividend expense on short sales, borrowing costs, interest, taxes, brokerage and extraordinary expenses, to the extent applicable) through February 29, 2024 to the extent necessary to limit the total annual fund operating expenses of the Class Y Shares of the Fund to .75% of the class's average daily net assets. This expense reimbursement may only be amended or terminated prior to its expiration date by agreement between the Manager and the Fund's Board of Trustees, and will terminate automatically in the event of termination of the Investment Advisory Agreement. The Manager may, during the term of the contract, recoup any fees waived or expenses reimbursed pursuant to the contract; however, the Fund will only make repayments to the Manager if such repayment does not cause the Fund's expense ratio after the repayment is taken into account, to exceed both (i) the expense cap in place at the time such amounts were waived or reimbursed, and (ii) the Fund's current expense cap. Such recoupment is limited to two years from the date the amount is initially waived or reimbursed. 

(6) JPMorgan Small Cap Equity Fund - Class R6 Shares: The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund's adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund's investment in such money market funds for all Share Classes. These waivers are in effect through 10/31/22, at which time it will be determined whether such waivers will be renewed or revised. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund's investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments. 

(7) MFS International Diversification Fund - Class R6: Massachusetts Financial Services Company has agreed in writing to bear the fund's expenses, excluding management fees, distribution and service fees, interest, taxes, extraordinary expenses, brokerage and transaction costs, investment-related expenses, and fees and expenses associated with investments in investment companies and other similar investment vehicles, such that "Other Expenses" do not exceed 0.00% of the class' average daily net assets annually for Class R6 shares. This written agreement will continue until modified by the fund's Board of Trustees, but such agreement will continue until at least September 30, 2021. 

(8) Goldman Sachs International Small Cap Insights Fund - Institutional Shares: The Investment Adviser has agreed to reduce or limit Other Expenses (excluding acquired fund fees and expenses, transfer agency fees and expenses, service fees, taxes, interest, brokerage fees, expenses of shareholder meetings, litigation and indemnification, and extraordinary expenses) to 0.014% of the Fund's average daily net assets through at least February 28, 2023, and prior to such date, the Investment Adviser may not terminate the arrangement without the approval of the Board of Trustees. 

(9) The Investment Option is neither a mutual fund nor part of a Separate Account.  The returns listed do not include the impact of contract charges.  Please refer to the contract or disclosure book to determine which Fixed Interest Options are available for your specific plan.  The Investment Option is offered through Voya Retirement Insurance and Annuity Company. 

(10) Western Asset Core Bond Fund - Class IS: The manager has agreed to waive fees and/or reimburse operating expenses (other than interest, brokerage commissions, taxes, extraordinary expenses, deferred organizational expenses and acquired fund fees and expenses), so that the ratio of total annual fund operating expenses will not exceed 0.42% for Class IS shares, subject to recapture as described in the prospectus. In addition, the ratio of total annual fund operating expenses for Class IS shares will not exceed the ratio of total annual fund operating expenses for Class I shares, subject to recapture as described in the prospectus. These arrangements cannot be terminated prior to December 31, 2022 without the Board's consent. The manager is permitted to recapture amounts waived and/or reimbursed to a class within two years after the fiscal year in which the manager earned the fee or incurred the expense if the class' total annual fund operating expenses have fallen to a level below the limits described above. In no case will the manager recapture any amount that would result, on any particular business day of the fund, in the class' total annual fund operating expenses exceeding the applicable limits described above or any other lower limit then in effect. In addition, the manager has agreed to waive the fund's management fee to an extent sufficient to offset the net management fee payable in connection with any investment in an affiliated money market fund. This management fee waiver is not subject to the recapture provision discussed above. Total annual fund operating expenses (after waiving fees and/or reimbursing expenses, as applicable) are higher than the expense cap amounts for Class IS shares as a result of acquired fund fees and expenses. 
 The chart shows the performance for each investment option for the time periods shown. 



Creation Date: Tuesday, September 27, 2022

Not FDIC/NCUA/NCUSIF Insured I Not a Deposit of a Bank/Credit Union I May Lose Value I Not Bank/Credit Union Guaranteed I Not Insured by Any Federal Government Agency

Insurance products, annuities and retirement plan funding issued by (third party administrative services may also be provided by) Voya Retirement Insurance and Annuity Company, One Orange Way, Windsor, CT 06095-4774. Securities are distributed by Voya Financial Partners LLC (member SIPC). Custodial account agreements or trust agreements are provided by Voya Institutional Trust Company. All companies are members of the Voya® family of companies. Securities may also be distributed through other broker-dealers with which Voya has selling agreements. Insurance obligations are the responsibility of each individual company. Product and services may not be available in all states. CN1739876_0823