ADDENDUM #1 RP024-17 Provide Defined Benefit and Defined ... · 10/1/2014 to 9/30/2015 2.8% 18.1%...

November 17, 2017

ADDENDUM #1 RP024-17

Provide Defined Benefit and Defined Contribution Retirement Plan Services Questions: Q1. There are references to the Appendix for statistics on the Defined Contribution plans on page 4

(“Statistical information on the plan is summarized in the Gwinnett County Plan Review, which can be found in the Appendix.”). I do not see that anywhere. Can you please point me to where specifically that information is provided?

A1. Please see attached. Clarification: C1. Some of the links in the solicitation are not working properly. Documents can be found by

following this link. https://www.gwinnettcounty.com/portal/gwinnett/Departments/HR/RetirementPlansInformat

ion/RetirementPlansDocuments If the above link does not work, please follow this path: www.gwinnettcounty.com>Departments>Human Resources>Retirement Plan

Information>Retirement Plan Documents

Thank you for your interest in Gwinnett County.

This addendum should be signed in the space provided below and returned with your quote. Failure to do so may result in your quote being deemed non-responsive. Thank you Dana Garland, CPPB Purchasing Associate III Company Name Authorized Representative

https://www.gwinnettcounty.com/portal/gwinnett/Departments/HR/RetirementPlansInformation/RetirementPlansDocuments

https://www.gwinnettcounty.com/portal/gwinnett/Departments/HR/RetirementPlansInformation/RetirementPlansDocuments

http://www.gwinnettcounty.com/

Plan Review

Gwinnett County

For the Period From October 1, 2016 to September 30, 2017

2

Table of Contents

Executive Summary

Plan Assets

Contributions

Participation

Distributions

Participant Services

Great-West Update

Disclosures

3

Executive Summary (in Millions)

u Assets at September 30, 2017 $372.39

u Less assets at September 30, 2016 $320.44

u Asset change for the year $51.95

u Contributions for the year $31.55

u Less distributions for the year -$22.76

u Net investment gain for the year $43.16

u Asset change for the year $51.95

Asset Components

Total Assets

4

Executive Summary

u Plan assets were at $372.39 million as of September 30, 2017

u Plan assets grew by $51.95 million (16.2%) from October 1, 2016 to September 30, 2017

u Contributions were $31.55 million from October 1, 2016 to September 30, 2017

u From October 1, 2016 to September 30, 2017 there were 10,954 participants

5

$0.0

$100.0

$200.0

$300.0

$400.0

9/30/2013 9/30/2014 9/30/2015 9/30/2016 9/30/2017

457(b) Plan 126.12 139.23 138.89 152.74 173.20

401(a) Plan 123.16 138.44 143.40 167.70 199.19

Dolla

r A

mount (in M

illio

ns)

Asset Growth

372.39

320.44282.29

277.67

249.28

6

Assets by Asset Class

$88.33

$80.36

$64.99

$54.49

$41.15

$19.29

$8.74 $8.09 $6.94

$-

$20.0

$40.0

$60.0

$80.0

$100.0

Dolla

r A

mount (

in m

illio

ns)

23.7%

21.6%

17.5%

14.6%

11.0%

5.2%2.3% 2.2% 1.9%

Large Cap

Fixed

Fund of Funds

Mid Cap

International

Bond

Small Cap

Self-Directed

Balanced

7

Percentage of Assets by Asset Class

Self Fund of Small Mid Large

Directed Funds Internat'l Cap Cap Cap Balanced Bond Fixed

10/1/2012 to 9/30/2013 4.2% 26.0% 11.5% 2.6% 10.5% 12.4% 1.7% 4.1% 26.9%

10/1/2013 to 9/30/2014 4.1% 26.4% 11.1% 3.1% 9.7% 14.0% 2.2% 4.5% 24.9%

10/1/2014 to 9/30/2015 4.0% 25.0% 11.9% 2.5% 10.5% 13.3% 4.3% 3.6% 24.9%

10/1/2015 to 9/30/2016 3.3% 22.5% 11.6% 2.3% 13.1% 17.6% 1.8% 4.8% 23.1%

10/1/2016 to 9/30/2017 2.7% 22.1% 13.2% 2.5% 15.9% 17.8% 1.5% 5.6% 18.7%

Self Funds of Small Mid Large


10/1/2012 to 9/30/2013 1.6% 10.5% 8.3% 3.8% 10.4% 25.9% 1.7% 3.7% 34.0%

10/1/2013 to 9/30/2014 1.6% 10.8% 8.1% 4.0% 10.2% 28.4% 2.0% 4.0% 31.0%

10/1/2014 to 9/30/2015 1.6% 11.1% 8.0% 2.2% 11.5% 28.3% 3.2% 3.6% 30.5%

10/1/2015 to 9/30/2016 1.5% 10.6% 7.5% 2.1% 12.2% 30.8% 2.3% 4.6% 28.4%

10/1/2016 to 9/30/2017 1.5% 12.1% 8.6% 2.2% 13.2% 30.6% 2.3% 4.7% 24.9%

Self Fund of Small Mid Large


10/1/2012 to 9/30/2013 2.9% 18.2% 9.9% 3.2% 10.5% 19.2% 1.7% 3.9% 30.5%

10/1/2013 to 9/30/2014 2.8% 18.6% 9.6% 3.6% 9.9% 21.2% 2.1% 4.2% 28.0%

10/1/2014 to 9/30/2015 2.8% 18.1% 10.0% 2.4% 11.0% 20.7% 3.7% 3.6% 27.7%

10/1/2015 to 9/30/2016 2.5% 16.8% 9.6% 2.2% 12.7% 23.9% 2.1% 4.7% 25.6%

10/1/2016 to 9/30/2017 2.2% 17.5% 11.0% 2.3% 14.6% 23.7% 1.9% 5.2% 21.6%

Combined

401(a) Plan

457(b) Plan

8

Assets by Investment Option

$1.583

$0.003

$6.403

$0.102

$4.704

$5.921

$8.669

$9.254

$11.329

$8.152

$8.716

$6.394

$1.113

$0.171

$0.571

$11.226

$3.700

$11.745

$14.477

$5.562

$3.182

$39.786

$9.172

$5.530

$9.261

$22.337

$30.457

$9.388

$4.892

$8.691

$3.304

$4.373

$2.569

$4.097

$15.192

$80.359

$0.0 $20.0 $40.0 $60.0 $80.0 $100.0

TD Ameritrade SDB Sweep Program

TD Ameritrade SDB Sweep Program Roth

TD Ameritrade SDB Securities

TD Ameritrade SDB Securities Roth

American Funds 2015 Trgt Date Retire R6









American Funds 2060 Target Date Ret R6

Great-West SecureFoundation Bal Inst

Dreyfus International Stock Index

Artisan International Instl

Oppenheimer Developing Markets I

Oppenheimer Global I

Columbia Small Cap Value Fund II Y

Franklin Small Cap Growth R6

American Century Mid Cap Value R6

Artisan Mid Cap Instl

Baron Growth Instl

BlackRock Equity Index - Collective F

Fidelity Contrafund

American Funds Growth Fund of Amer R6

TIAA-CREF Institutional Equity Index

American Funds Invmt Co of America R6

Invesco Growth and Income R6

Pioneer Fundamental Growth K

Fidelity Puritan

Janus Henderson Balanced N

JPMorgan High Yield R6

Vanguard Total Bond Market Index Adm

Gwinnett Stable Value Fund

Dollar Amount (in millions)

9

Asset Distribution – 401(a) 01 Plan

Active Participants:

9/30/2013 3,515

9/30/2014 3,749

9/30/2015 4,178

9/30/2016 4,751

9/30/2017 4,811

Average Account

Balance per Participant:

9/30/2013 $35,039

9/30/2014 $36,928

9/30/2015 $34,323

9/30/2016 $35,299

9/30/2017 $41,402

Average Number of

Investment Options

per Participant:

9/30/2013 6.3

9/30/2014 7.5

9/30/2015 7.3

9/30/2016 8.3

9/30/2017 7.6

Asset Class/Fund Name

Amount Pct Accts Amount Pct Accts

Self-Directed

TD Ameritrade SDB Sw eep Program 700,882 0.4% 43 966,019 0.5% 41

TD Ameritrade SDB Securities 4,849,093 2.9% 43 4,476,371 2.2% 40

5,549,974 3.3% 5,442,390 2.7%

Fund of Funds

Great-West Agg Profile Fund Inst 9,552,245 5.7% 294 0 0.0% -

Great-West Con Profile Fund Inst 2,893,550 1.7% 86 0 0.0% -

Great-West Mod Agg Profile Fund Inst 8,687,993 5.2% 288 0 0.0% -

Great-West Mod Con Profile Fund Inst 2,114,258 1.3% 116 0 0.0% -

Great-West Mod Profile Fund Inst 13,306,340 7.9% 453 0 0.0% -

American Funds 2015 Trgt Date Retire R6 0 0.0% - 3,192,194 1.6% 47








American Funds 2055 Trgt Date Retire R6 0 0.0% - 972,427 0.5% 66

American Funds 2060 Target Date Ret R6 0 0.0% - 115,753 0.1% 22

Great-West SecureFoundation LT 2015 Inv 184,200 0.1% 14 0 0.0% -









Great-West SecureFoundation Bal Inst 0 0.0% - 180,307 0.1% 8

37,664,119 22.5% 44,107,362 22.1%

International

Dreyfus International Stock Index 6,945,770 4.1% 2,715 7,685,523 3.9% 3,002

Artisan International Instl 2,591,737 1.5% 2,720 1,475,386 0.7% 175

Oppenheimer Developing Markets I 5,359,477 3.2% 2,690 7,976,703 4.0% 2,994

Oppenheimer Global I 4,510,233 2.7% 2,737 9,068,729 4.6% 3,100

19,407,217 11.6% 26,206,341 13.2%

9/30/20179/30/2016

10

Asset Distribution – 401(a) 01 Plan Continued

Small-Cap

Columbia Small Cap Value Fund II Y 2,924,845 1.7% 2,577 3,380,680 1.7% 2,816

Franklin Small Cap Grow th R6 862,472 0.5% 114 1,615,451 0.8% 121

3,787,317 2.3% 4,996,131 2.5%

M id-Cap

American Century Mid Cap Value R6 16,867,837 10.1% 2,786 25,640,076 12.9% 3,122

Artisan Mid Cap Instl 3,175,076 1.9% 206 3,408,895 1.7% 205

Baron Grow th Instl 1,865,966 1.1% 130 2,553,910 1.3% 1,020

21,908,879 13.1% 31,602,881 15.9%

Large-Cap

BlackRock Equity Index - Collective F 2,954,343 1.8% 111 3,422,836 1.7% 111

Fidelity Contrafund 4,311,363 2.6% 274 5,173,253 2.6% 298

American Funds Grow th Fund of Amer R6 5,648,625 3.4% 2,757 13,124,098 6.6% 3,068

TIAA-CREF Institutional Equity Index 7,448,815 4.4% 2,705 5,224,130 2.6% 2,902

American Funds Invmt Co of America R6 3,324,474 2.0% 2,661 2,630,237 1.3% 1,427

Invesco Grow th and Income R6 3,200,394 1.9% 2,701 4,102,394 2.1% 2,868

Pioneer Fundamental Grow th K 2,705,446 1.6% 2,590 1,681,821 0.8% 228

29,593,459 17.6% 35,358,768 17.8%

Balanced

Fidelity Puritan 1,587,806 0.9% 148 1,457,315 0.7% 146

Janus Henderson Balanced N 1,506,391 0.9% 159 1,557,410 0.8% 144

3,094,197 1.8% 3,014,725 1.5%

Bond

JPMorgan High Yield R6 1,719,474 1.0% 1,207 2,388,372 1.2% 1,408

Vanguard Total Bond Market Index Adm 6,308,085 3.8% 2,520 8,774,648 4.4% 2,770

8,027,558 4.8% 11,163,020 5.6%

Fixed

Gw innett Stable Value Fund 38,671,019 23.1% 3,347 37,294,140 18.7% 3,572

38,671,019 23.1% 37,294,140 18.7%

167,703,739 100.0% 199,185,758 100.0%

11

Asset Distribution – 457(b) 03 Plan



Self-Directed

TD Ameritrade SDB Sw eep Program 727,096 0.5% 44 616,674 0.4% 41

TD Ameritrade SDB Sw eep Program Roth 4,895 0.0% 2 3,305 0.0% 2


TD Ameritrade SDB Securities Roth 54,839 0.0% 2 101,665 0.1% 2

2,319,698 1.5% 2,647,792 1.5%

Fund of Funds

Maxim Moderate Profile Portfolio 0 0.0% 1 0 0.0% -


























16,229,113 10.6% 20,886,654 12.1%

International





Oppenheimer Global Fund A 0 0.0% 1 0 0.0% -

11,432,123 7.5% 14,941,744 8.6%

9/30/2016 9/30/2017

Active Participants:

9/30/2013 4,921

9/30/2014 5,195

9/30/2015 5,591

9/30/2016 6,155

9/30/2017 6,143

Average Account

Balance per Participant:

9/30/2013 $25,629

9/30/2014 $26,800

9/30/2015 $24,842

9/30/2016 $24,816

9/30/2017 $28,195

Average Number of

Investment Options

per Participant:

9/30/2013 5.4

9/30/2014 6.4

9/30/2015 6.3

9/30/2016 7.2

9/30/2017 6.7

12

Asset Distribution – 457(b) 03 Plan Continued

Small-Cap


Franklin Small Cap Grow th R6 1,409,569 0.9% 197 1,567,012 0.9% 190

3,197,794 2.1% 3,747,928 2.2%

M id-Cap




18,680,512 12.2% 22,885,510 13.2%

Large-Cap

American Funds Grow th Fund A 0 0.0% 2 0 0.0% -

American Funds Inv Co Amer A 0 0.0% 1 0 0.0% -


Fidelity Contrafund 15,070,630 9.9% 917 17,163,748 9.9% 881






Invesco Grow th & Income A 0 0.0% 1 0 0.0% -

47,051,141 30.8% 52,970,860 30.6%

Balanced


Janus Henderson Balanced T 0 0.0% 1 0 0.0% -

Janus Henderson Balanced N 854,713 0.6% 194 1,011,591 0.6% 171

3,518,096 2.3% 3,927,721 2.3%

Bond



6,983,041 4.6% 8,125,996 4.7%

Fixed


43,327,952 28.4% 43,065,274 24.9%

152,739,469 100.0% 173,199,480 100.0%

13

Asset Distribution – Combined



Self-Directed

TD Ameritrade SDB Sw eep Program 1,427,977 0.4% 87 1,582,693 0.4% 82

TD Ameritrade SDB Sw eep Program Roth 4,895 0.0% 2 3,305 0.0% 2


TD Ameritrade SDB Securities Roth 54,839 0.0% 2 101,665 0.0% 2

7,869,672 2.5% 8,090,182 2.2%

Fund of Funds

Maxim Moderate Profile Portfolio 0 0.0% 1 0 0.0% -


























53,893,232 16.8% 64,994,016 17.5%

International





Oppenheimer Global Fund A 0 0.0% 1 0 0.0% -

30,839,340 9.6% 41,148,085 11.0%

9/30/20179/30/2016

Total Active Accounts:

9/30/2013 8,436

9/30/2014 8,944

9/30/2015 9,769

9/30/2016 10,906

9/30/2017 10,954

Average Account

Balance per Account:

9/30/2013 $29,550

9/30/2014 $31,045

9/30/2015 $28,896

9/30/2016 $29,382

9/30/2017 $33,995

Average Number of

Investment Options

per Account:

9/30/2013 5.8

9/30/2014 6.8

9/30/2015 6.8

9/30/2016 7.7

9/30/2017 7.1

14

Asset Distribution – Combined Continued

Small-Cap


Franklin Small Cap Grow th R6 2,272,041 0.7% 311 3,182,463 0.9% 311

6,985,111 2.2% 8,744,059 2.3%

M id-Cap




40,589,392 12.7% 54,488,391 14.6%

Large-Cap

American Funds Grow th Fund A 0 0.0% 2 0 0.0% -

American Funds Inv Co Amer A 0 0.0% 1 0 0.0% -


Fidelity Contrafund 19,381,992 6.0% 1,191 22,337,001 6.0% 1,179






Invesco Grow th & Income A 0 0.0% 1 0 0.0% -

76,644,600 23.9% 88,329,628 23.7%

Balanced


Janus Henderson Balanced T 0 0.0% 1 0 0.0% -

Janus Henderson Balanced N 2,361,103 0.7% 353 2,569,001 0.7% 315

6,612,293 2.1% 6,942,446 1.9%

Bond



15,010,599 4.7% 19,289,016 5.2%

Fixed


81,998,971 25.6% 80,359,415 21.6%

320,443,208 100.0% 372,385,238 100.0%

15

$0.0

$7.0

$14.0

$21.0

$28.0

$35.0

9/30/2013 9/30/2014 9/30/2015 9/30/2016 9/30/2017

457(b) Plan 10.04 9.83 9.01 10.42 11.21

401(a) Plan 13.91 14.46 16.50 20.11 20.34

Dolla

r A

mount (in M

illio

ns)

Contribution History

31.5530.53

25.5124.3023.95

16

Contributions by Asset Class

$7.29

$6.14 $5.74

$5.10

$4.23

$1.62

$0.90

$0.52

$-

$1.50

$3.00

$4.50

$6.00

$7.50

$9.00

Dol

lar A

mou

nt (

in m

illio

ns)

23.1%

19.5%

18.2%

16.2%

13.4%

5.1% 2.8% 1.7%

Large Cap

Mid Cap

Fund of Funds

International

Fixed

Bond

Small Cap

Balanced

17

Percentage of Contributions by Asset Class

Fund of Small Mid Large

Funds Internat'l Cap Cap Cap Balanced Bond Fixed

10/1/2012 to 9/30/2013 22.8% 17.7% 3.0% 16.2% 15.2% 1.2% 3.9% 19.9%

10/1/2013 to 9/30/2014 20.8% 18.9% 4.4% 15.6% 16.8% 1.5% 4.8% 17.2%

10/1/2014 to 9/30/2015 18.8% 18.0% 4.5% 16.2% 18.6% 2.5% 4.2% 17.2%

10/1/2015 to 9/30/2016 17.9% 18.9% 4.0% 16.4% 21.9% 3.8% 3.8% 13.3%

10/1/2016 to 9/30/2017 17.2% 17.9% 3.0% 20.8% 22.2% 1.2% 5.0% 12.7%



10/1/2012 to 9/30/2013 15.2% 14.6% 3.3% 14.2% 22.3% 1.1% 5.0% 24.3%

10/1/2013 to 9/30/2014 12.5% 14.7% 4.2% 13.4% 26.6% 1.4% 6.2% 21.1%

10/1/2014 to 9/30/2015 15.6% 15.4% 4.3% 16.1% 22.8% 2.6% 4.8% 18.4%

10/1/2015 to 9/30/2016 15.7% 15.2% 3.7% 14.7% 24.9% 2.8% 4.7% 18.4%

10/1/2016 to 9/30/2017 20.1% 13.1% 2.5% 17.0% 24.7% 2.4% 5.4% 14.7%



10/1/2012 to 9/30/2013 19.6% 16.4% 3.1% 15.4% 18.2% 1.2% 4.4% 21.8%

10/1/2013 to 9/30/2014 17.4% 17.2% 4.3% 14.7% 20.8% 1.5% 5.4% 18.8%

10/1/2014 to 9/30/2015 17.7% 17.1% 4.4% 16.2% 20.1% 2.5% 4.4% 17.6%

10/1/2015 to 9/30/2016 17.1% 17.6% 3.9% 15.8% 22.9% 3.5% 4.1% 15.0%

10/1/2016 to 9/30/2017 18.2% 16.2% 2.8% 19.5% 23.1% 1.7% 5.1% 13.4%

Combined

401(a) Plan

457(b) Plan

18

Contributions by Investment Option $0.138

$0.033$0.115

$0.035$0.192$0.168

$0.525$0.501

$0.950$0.933

$0.555$0.723

$0.544$0.215

$0.074$0.005$0.000$0.002$0.007$0.010$0.005$0.008$0.003$0.002

$2.112$0.279

$1.762$0.950

$0.727$0.172

$5.451$0.433

$0.256$0.300

$1.015$2.088$2.146

$0.709$0.703

$0.327$0.360

$0.165$0.306

$1.314$4.231

$0.00 $1.00 $2.00 $3.00 $4.00 $5.00 $6.00

Great-West Agg Profile Fund InstGreat-West Con Profile Fund Inst

Great-West Mod Agg Profile Fund InstGreat-West Mod Con Profile Fund Inst

Great-West Mod Profile Fund InstAmerican Funds 2015 Trgt Date Retire R6American Funds 2020 Trgt Date Retire R6American Funds 2025 Trgt Date Retire R6American Funds 2030 Trgt Date Retire R6American Funds 2035 Trgt Date Retire R6American Funds 2040 Trgt Date Retire R6American Funds 2045 Trgt Date Retire R6American Funds 2050 Trgt Date Retire R6American Funds 2055 Trgt Date Retire R6American Funds 2060 Target Date Ret R6

Great-West SecureFoundation LT 2015 InvGreat-West SecureFoundation LT 2020 InvGreat-West SecureFoundation LT 2025 InvGreat-West SecureFoundation LT 2030 InvGreat-West SecureFoundation LT 2035 InvGreat-West SecureFoundation LT 2040 InvGreat-West SecureFoundation LT 2045 InvGreat-West SecureFoundation LT 2050 InvGreat-West SecureFoundation LT 2055 Inv

Dreyfus International Stock IndexArtisan International Instl

Oppenheimer Developing Markets IOppenheimer Global I

Columbia Small Cap Value Fund II YFranklin Small Cap Growth R6

American Century Mid Cap Value R6Artisan Mid Cap Instl

Baron Growth InstlBlackRock Equity Index - Collective F

Fidelity ContrafundAmerican Funds Growth Fund of Amer R6

TIAA-CREF Institutional Equity IndexAmerican Funds Invmt Co of America R6

Invesco Growth and Income R6Pioneer Fundamental Growth K

Fidelity PuritanJanus Henderson Balanced N

JPMorgan High Yield R6Vanguard Total Bond Market Index Adm

Gwinnett Stable Value Fund

Dollar Amount (in millions)

19

Contributions by Fund – 401(a) 01 Plan



Fund of Funds

Maxim Aggressive Profile Portfolio 235,273 1.2% 210 0 0.0% -

Maxim Moderately Aggressive Profile Port 196,799 1.0% 179 0 0.0% -

Maxim Moderate Profile Portfolio 420,630 2.1% 324 0 0.0% -

Maxim Moderately Conservative Profile 57,107 0.3% 70 0 0.0% -

Maxim Conservative Profile Portfolio 54,519 0.3% 60 0 0.0% -

Great-West Agg Profile Fund Inst 577,057 2.9% 300 89,215 0.4% 185

Great-West Con Profile Fund Inst 158,570 0.8% 91 24,261 0.1% 52

Great-West Mod Agg Profile Fund Inst 508,741 2.5% 298 82,186 0.4% 165

Great-West Mod Con Profile Fund Inst 133,203 0.7% 117 22,723 0.1% 65

Great-West Mod Profile Fund Inst 988,968 4.9% 531 151,823 0.7% 276











Great-West SecureFoundation LT 2015 Inv 29,561 0.1% 10 3,477 0.0% 8

Great-West SecureFoundation LT 2020 Inv 781 0.0% 3 216 0.0% 3








3,602,685 17.9% 3,489,414 17.2%

International

Artisan International Inv 233,610 1.2% 2,010 0 0.0% -

Dreyfus International Stock Index 994,125 4.9% 2,952 1,543,464 7.6% 2,542

Artisan International Instl 292,518 1.5% 2,879 170,302 0.8% 2,121

Oppenheimer Developing Markets I 776,836 3.9% 2,929 1,272,697 6.3% 2,549

Oppenheimer Global I 732,232 3.6% 3,054 645,714 3.2% 2,599

Oppenheimer Developing Markets Y 296,932 1.5% 2,022 0 0.0% -

Oppenheimer Global Y 474,080 2.4% 2,096 0 0.0% -

3,800,332 18.9% 3,632,179 17.9%

10/1/2016 to 9/30/201710/1/2015 to 9/30/2016

Contributing Participants:

9/30/2013 2,791

9/30/2014 2,955

9/30/2015 3,275

9/30/2016 3,536

9/30/2017 3,667

9/30/2013 $4,984

9/30/2014 $4,894

9/30/2015 $5,039

9/30/2016 $5,688

9/30/2017 $5,547

9/30/2013 8.9

9/30/2014 10.2

9/30/2015 11.6

9/30/2016 17.9

9/30/2017 10.1

Average Number of Investment

Options per Participant:

Average Contribution per

Participant:

20

Contributions by Fund – 401(a) 01 Plan Continued

Small-Cap

Columbia Small Cap Value Fund II Y 474,159 2.4% 2,893 512,269 2.5% 2,486

Columbia Small Cap Value Fund II Z 216,672 1.1% 2,027 0 0.0% -

Franklin Small Cap Grow th A 50,731 0.3% 71 0 0.0% -

Franklin Small Cap Grow th R6 69,028 0.3% 153 105,261 0.5% 89

810,591 4.0% 617,530 3.0%

M id-Cap

Artisan Mid Cap Inv 83,999 0.4% 143 0 0.0% -

American Century Mid Cap Value A 742,200 3.7% 2,072 0 0.0% -


Baron Grow th Retail 30,631 0.2% 417 0 0.0% -

Artisan Mid Cap Instl 169,859 0.8% 214 239,264 1.2% 1,021

Baron Grow th Instl 75,730 0.4% 478 131,096 0.6% 1,024

3,292,261 16.4% 4,233,610 20.8%

Large-Cap

American Funds Grow th Fund A 149,337 0.7% 1,311 0 0.0% -

American Funds Inv Co Amer A 31,003 0.2% 273 0 0.0% -

BlackRock Equity Index - Collective F 410,512 2.0% 1,756 161,538 0.8% 79

Fidelity Contrafund 642,367 3.2% 291 520,633 2.6% 259

Pioneer Fundamental Grow th Y 209,763 1.0% 1,898 0 0.0% -

American Funds Grow th Fund of Amer R6 483,000 2.4% 2,930 1,357,349 6.7% 2,592


American Funds Invmt Co of America R6 115,220 0.6% 2,293 474,950 2.3% 2,444

Invesco Grow th and Income R6 541,711 2.7% 2,864 455,666 2.2% 2,521

Invesco Grow th and Income Y 177,142 0.9% 1,941 0 0.0% -

Pioneer Fundamental Grow th K 363,080 1.8% 2,844 205,588 1.0% 2,035

4,405,909 21.9% 4,519,010 22.2%

Balanced

Fidelity Puritan 443,033 2.2% 1,197 143,802 0.7% 92

Janus Henderson Balanced T 143,033 0.7% 734 0 0.0% -

Janus Henderson Balanced N 176,039 0.9% 1,088 108,962 0.5% 76

762,105 3.8% 252,764 1.2%

Bond

JPMorgan High Yield R6 113,117 0.6% 1,303 199,379 1.0% 1,145

JPMorgan High Yield A 55,607 0.3% 446 0 0.0% -

Vanguard Total Bond Market Index Adm 600,016 3.0% 1,911 813,884 4.0% 1,640

768,739 3.8% 1,013,263 5.0%

Fixed


2,670,931 13.3% 2,584,908 12.7%

20,113,552 100.0% 20,342,678 100.0%

21

Contributions by Fund – 457(b) 03 Plan



Fund of Funds










Great-West Mod Profile Fund Inst 289,738 2.8% 385 39,874 0.4% 219












Great-West SecureFoundation LT 2020 Inv 1,276 0.0% 6 41 0.0% 2






Great-West SecureFoundation LT 2050 Inv 997 0.0% 6 454 0.0% 5


1,631,846 15.7% 2,253,443 20.1%

International


Dreyfus International Stock Index 369,534 3.5% 3,013 568,742 5.1% 2,570


Oppenheimer Developing Markets I 294,443 2.8% 2,998 489,302 4.4% 2,599

Oppenheimer Global I 333,630 3.2% 3,199 304,653 2.7% 2,690



1,580,065 15.2% 1,470,923 13.1%

10/1/2016 to 9/30/201710/1/2015 to 9/30/2016

Contributing Participants:

9/30/2013 3,472

9/30/2014 3,611

9/30/2015 3,877

9/30/2016 4,123

9/30/2017 4,222

9/30/2013 $2,891

9/30/2014 $2,723

9/30/2015 $2,324

9/30/2016 $2,527

9/30/2017 $2,655

9/30/2013 7.5

9/30/2014 8.7

9/30/2015 10.1

9/30/2016 16.4

9/30/2017 9.2

Average Number of Investment

Options per Participant:

Average Annual Contributions

per Participant:

22

Contributions by Fund – 457(b) 03 Plan Continued

Small-Cap





382,541 3.7% 281,477 2.5%

M id-Cap


American Century Mid Cap Value A 304,085 2.9% 2,108 0 0.0% -

American Century Mid Cap Value R6 838,962 8.1% 3,206 1,587,358 14.2% 2,775



Baron Grow th Instl 78,131 0.7% 618 124,491 1.1% 1,158

1,532,032 14.7% 1,906,004 17.0%

Large-Cap




Fidelity Contrafund 556,395 5.3% 865 494,564 4.4% 482


American Funds Grow th Fund of Amer R6 382,392 3.7% 3,500 731,016 6.5% 2,825

TIAA-CREF Institutional Equity Index 579,124 5.6% 2,894 802,505 7.2% 2,608





2,594,451 24.9% 2,770,721 24.7%

Balanced


Janus Henderson Balanced T 34,296 0.3% 751 0 0.0% -


291,826 2.8% 272,108 2.4%

Bond



Vanguard Total Bond Market Index Adm 396,712 3.8% 2,029 500,138 4.5% 1,807

493,850 4.7% 606,823 5.4%

Fixed


1,912,731 18.4% 1,646,223 14.7%

10,419,342 100.0% 11,207,722 100.0%

23

Contributions by Fund – Combined



Fund of Funds










Great-West Mod Profile Fund Inst 1,278,706 4.2% 916 191,697 0.6% 495




















5,234,531 17.1% 5,742,856 18.2%

International





Oppenheimer Global I 1,065,862 3.5% 6,253 950,367 3.0% 5,289



5,380,397 17.6% 5,103,101 16.2%

10/1/2016 to 9/30/201710/1/2015 to 9/30/2016

Total Accounts

Receiving Contributions:

9/30/2013 6,263

9/30/2014 6,566

9/30/2015 7,152

9/30/2016 7,659

9/30/2017 7,889

9/30/2013 $3,824

9/30/2014 $3,700

9/30/2015 $3,567

9/30/2016 $3,987

9/30/2017 $3,999

9/30/2013 8.2

9/30/2014 9.4

9/30/2015 10.8

9/30/2016 17.1

9/30/2017 9.6

Average Number of

Investment Options per

Account:

Average Contributions per

Account:

24

Contributions by Fund – Combined Continued

Small-Cap





1,193,132 3.9% 899,007 2.8%

M id-Cap


American Century Mid Cap Value A 1,046,285 3.4% 4,180 0 0.0% -




Baron Grow th Instl 153,861 0.5% 1,096 255,586 0.8% 2,182

4,824,293 15.8% 6,139,614 19.5%

Large-Cap




Fidelity Contrafund 1,198,762 3.9% 1,156 1,015,197 3.2% 741


American Funds Grow th Fund of Amer R6 865,392 2.8% 6,430 2,088,366 6.6% 5,417






7,000,360 22.9% 7,289,732 23.1%

Balanced


Janus Henderson Balanced T 177,329 0.6% 1,485 0 0.0% -


1,053,930 3.5% 524,872 1.7%

Bond



Vanguard Total Bond Market Index Adm 996,727 3.3% 3,940 1,314,022 4.2% 3,447

1,262,589 4.1% 1,620,087 5.1%

Fixed


4,583,662 15.0% 4,231,131 13.4%

30,532,895 100.0% 31,550,400 100.0%

25

0

3,000

6,000

9,000

12,000

9/30/2013 9/30/2014 9/30/2015 9/30/2016 9/30/2017

457(b) Plan 4,921 5,195 5,591 6,155 6,143

401(a) Plan 3,515 3,749 4,178 4,751 4,811

Plan Participation

10,95410,906

9,7698,944

8,436

26

Benefit Payment Distribution – 401(a) 01 Plan

Amount Pct Count Amount Pct Count

Full Withdrawals

Death 10,672 0.1% 5 80,465 0.7% 4

Retirement 119,147 1.4% 6 388,774 3.5% 11

Separation of Service 6,547,079 75.8% 484 8,439,628 75.8% 242

Total Full Withdrawals: 6,676,898 77.4% 495 8,908,868 80.0% 257

Partial Withdrawals

INSERVROMT 0 0.0% 0 5,394 0.0% 1

In Service 7,956 0.1% 1 1,250 0.0% 1

Minimum Distribution 264 0.0% 2 9,605 0.1% 3

Retirement 180,425 2.1% 8 789,624 7.1% 16

Separation of Service 1,215,948 14.1% 51 787,172 7.1% 43

Service Credit 0 0.0% 0 6,661 0.1% 1

Total Partial Withdrawals: 1,404,592 16.3% 62 1,599,705 14.4% 65

Periodic Payments

Death 0 0.0% 0 4,800 0.0% 1

Minimum Distribution 39,669 0.5% 10 44,195 0.4% 12

Retirement 438,706 5.1% 21 501,150 4.5% 21

Separation of Service 72,000 0.8% 1 72,000 0.6% 1

Total Periodic Payments: 550,375 6.4% 32 622,145 5.6% 35

8,631,865 100.0% 589 11,130,718 100.0% 357

10/1/2015 to 9/30/2016 10/1/2016 to 9/30/2017

27

Benefit Payment Distribution – 457(b) 03 Plan


Full Withdrawals

Death 422,508 4.1% 13 379,976 3.3% 13

Retirement 1,527,804 14.8% 37 965,607 8.3% 35


Total Full Withdrawals: 4,735,704 46.0% 539 6,173,959 53.1% 320

Partial Withdrawals

INSERVROMT 65,497 0.6% 8 92,018 0.8% 5

Death 44,159 0.4% 4 111,674 1.0% 4

Hardship 64,898 0.6% 14 52,345 0.4% 19

Loan 2,118,539 20.6% 317 2,400,972 20.6% 331


Retirement 1,084,490 10.5% 32 793,440 6.8% 41


Service Credit 20,318 0.2% 5 27,167 0.2% 8


Periodic Payments

Benefit Payment 27,985 0.3% 3 24,914 0.2% 3


Retirement 313,010 3.0% 44 395,582 3.4% 47


Total Periodic Payments: 567,253 5.5% 120 658,808 5.7% 134

10,301,705 100.0% 1,116 11,634,079 100.0% 952

10/1/2015 to 9/30/2016 10/1/2016 to 9/30/2017

28

Benefit Payment Distribution – Combined


Full Withdrawals

Death 433,180 2.3% 18 460,441 2.0% 17

Retirement 1,646,951 8.7% 43 1,354,381 5.9% 46


Total Full Withdrawals: 11,412,601 60.3% 1,034 15,082,827 66.3% 577

Partial Withdrawals

INSERVROMT 65,497 0.3% 8 97,412 0.4% 6

Death 44,159 0.2% 4 111,674 0.5% 4

Hardship 64,898 0.3% 14 52,345 0.2% 19

In Service 7,956 0.0% 1 1,250 0.0% 1

Loan 2,118,539 11.2% 317 2,400,972 10.5% 331


Retirement 1,264,915 6.7% 40 1,583,064 7.0% 57


Service Credit 20,318 0.1% 5 33,828 0.1% 9


Periodic Payments

Benefit Payment 27,985 0.1% 3 24,914 0.1% 3

Death 0 0.0% 0 4,800 0.0% 1


Retirement 751,717 4.0% 65 896,732 3.9% 68


Total Periodic Payments: 1,117,628 5.9% 152 1,280,953 5.6% 169

18,933,571 100.0% 1,705 22,764,798 100.0% 1,309

10/1/2015 to 9/30/2016 10/1/2016 to 9/30/2017

29

KeyTalk®

Statistics – 401(a) 01 Plan

Category Total Pct Total Pct

Change Passcode 706 97.0% 334 95.7%

Inq Acct Bal 16 2.2% 12 3.4%

Inq Alloc 3 0.4% - 0.0%

Inq Loan - 0.0% 3 0.9%

Inq Tran Hist 3 0.4% - 0.0%

GRAND TOTAL 728 100.0% 349 100.0%

Total Calls 1,926 2,115

Rolled to Customer Service 1,320 1,388

Pct Transferred to CSR 68.5% 65.6%

Plan Totals

10/1/2015 to 9/30/2016 10/1/2016 to 9/30/2017

30

KeyTalk®

Statistics – 457(b) 03 Plan


Change Passcode 1,206 83.2% 569 63.6%

Deferral 14 1.0% 21 2.3%

Inq Acct Bal 18 1.2% 31 3.5%

Inq Alloc 1 0.1% - 0.0%

Inq Loan 168 11.6% 227 25.4%

Inq Tran Hist 8 0.6% 2 0.2%

Loan Request 35 2.4% 44 4.9%

GRAND TOTAL 1,450 100.0% 894 100.0%




Plan Totals

10/1/2015 to 9/30/2016 10/1/2016 to 9/30/2017

31

KeyTalk®

Statistics – Combined


Change Passcode 1,912 87.8% 903 72.6%

Deferral 14 0.6% 21 1.7%

Inq Acct Bal 34 1.6% 43 3.5%

Inq Alloc 4 0.2% - 0.0%

Inq Loan 168 7.7% 230 18.5%

Inq Tran Hist 11 0.5% 2 0.2%

Loan Request 35 1.6% 44 3.5%

GRAND TOTAL 2,178 100.0% 1,243 100.0%




Plan Totals

10/1/2015 to 9/30/2016 10/1/2016 to 9/30/2017

32

Internet Statistics – 401(a) 01 Plan


Account And Certificates Overview 15,381 22.5% 18,448 24.3%

Allocation And Asset Allocation 1,380 2.0% 1,471 1.9%

Disbursement Summary 2,336 3.4% 2,365 3.1%

Fund Overview And Prospectus 1,474 2.2% 1,967 2.6%

Inq Acct Bal 497 0.7% 277 0.4%

Inq Asset Alloc 33 0.0% 45 0.1%

Inq Asset Alloc Comparison 85 0.1% 77 0.1%

Inq Bal Comparison 604 0.9% 613 0.8%

Inq Bal History 1,934 2.8% 2,067 2.7%

Inq Bene 875 1.3% 955 1.3%

Inq Fund Overview 433 0.6% 445 0.6%

Inq Fund Prospectus 284 0.4% 209 0.3%

Inq Fund Returns 832 1.2% 1,979 2.6%

Inq Funds Trnd 800 1.2% 729 1.0%

Inq Managed Account-Ibbotson 50 0.1% 99 0.1%

Inq Multi Acct Bal 2,594 3.8% 3,087 4.1%

Inq O/L Forms 666 1.0% 690 0.9%

Inq Per Rate Return 3,359 4.9% 2,937 3.9%

Inq Rates 151 0.2% 176 0.2%

Inq Tran Hist 19,198 28.1% 18,876 24.9%

Inq Uval 1,348 2.0% 1,110 1.5%

Inquire Address 1,259 1.8% 1,384 1.8%

Learn About Managed Accounts 175 0.3% 314 0.4%

Managed Account Enrollment 207 0.3% 315 0.4%

Managed Account Link 369 0.5% 608 0.8%

Ricp Current Projection 1,632 2.4% 2,843 3.8%

Ricp Future Withdrawal 195 0.3% 356 0.5%

Ricp Save 655 1.0% 1,204 1.6%

Statement On Demand And Quarterly 3,050 4.5% 3,369 4.4%

Transaction Downloads 444 0.7% 726 1.0%

Address Change 44 0.1% 58 0.1%

Allocation 232 0.3% 278 0.4%

Beneficiaries 251 0.4% 281 0.4%

Change Passcode 1,016 1.5% 1,018 1.3%

Elec Filing Cabinet 329 0.5% 278 0.4%

Email Address 1,857 2.7% 1,947 2.6%

Fund To Fund Trf 152 0.2% 135 0.2%

Indic Data 428 0.6% 430 0.6%

Order Passcode 476 0.7% 487 0.6%

Rebalancer 91 0.1% 87 0.1%

Registration 1,043 1.5% 985 1.3%

Trf From Sda 29 0.0% 30 0.0%

Trf To Sda 32 0.0% 38 0.1%

GRAND TOTAL 68,280 100.0% 75,793 100.0%

Number of Successful log ins 29,781 34,867

Plan Totals

10/1/2015 to 9/30/2016 10/1/2016 to 9/30/2017

33

Internet Statistics – 457(b) 03 Plan






Inq Acct Bal 1,547 1.6% 2,077 2.0%

Inq Asset Alloc 131 0.1% 140 0.1%


Inq Bal Comparison 1,285 1.3% 1,457 1.4%

Inq Bal History 3,217 3.3% 3,780 3.6%

Inq Bene 1,292 1.3% 1,377 1.3%



Inq Fund Returns 1,628 1.7% 2,666 2.5%

Inq Funds Trnd 1,702 1.8% 1,021 1.0%



Inq O/L Forms 595 0.6% 621 0.6%


Inq Rates 391 0.4% 337 0.3%

Inq Tran Hist 26,318 27.1% 24,978 23.9%

Inq Trfs - Comp/Pend/Perd 2 0.0% 3 0.0%

Inq Uval 2,165 2.2% 2,074 2.0%

Inquire Address 1,192 1.2% 1,334 1.3%



Managed Account Link 283 0.3% 522 0.5%



Ricp Save 818 0.8% 1,020 1.0%


Transaction Downloads 1,473 1.5% 1,611 1.5%


Allocation 416 0.4% 436 0.4%


Change Passcode 1,666 1.7% 1,594 1.5%


Email Address 1,788 1.8% 1,690 1.6%

Fund To Fund Trf 319 0.3% 303 0.3%

Indic Data 493 0.5% 334 0.3%


Rebalancer 152 0.2% 134 0.1%

Registration 881 0.9% 813 0.8%

Trf From Sda 8 0.0% 9 0.0%

Trf To Sda 46 0.0% 33 0.0%

GRAND TOTAL 96,954 100.0% 104,557 100.0%


Plan Totals

10/1/2015 to 9/30/2016 10/1/2016 to 9/30/2017

34

Internet Statistics – Combined






Inq Acct Bal 2,044 1.2% 2,354 1.3%

Inq Asset Alloc 164 0.1% 185 0.1%


Inq Bal Comparison 1,889 1.1% 2,070 1.1%

Inq Bal History 5,151 3.1% 5,847 3.2%

Inq Bene 2,167 1.3% 2,332 1.3%



Inq Fund Returns 2,460 1.5% 4,645 2.6%

Inq Funds Trnd 2,502 1.5% 1,750 1.0%



Inq O/L Forms 1,261 0.8% 1,311 0.7%


Inq Rates 542 0.3% 513 0.3%

Inq Tran Hist 45,516 27.5% 43,854 24.3%

Inq Trfs - Comp/Pend/Perd 2 0.0% 3 0.0%

Inq Uval 3,513 2.1% 3,184 1.8%

Inquire Address 2,451 1.5% 2,718 1.5%



Managed Account Link 652 0.4% 1,130 0.6%



Ricp Save 1,473 0.9% 2,224 1.2%


Transaction Downloads 1,917 1.2% 2,337 1.3%


Allocation 648 0.4% 714 0.4%


Change Passcode 2,682 1.6% 2,612 1.4%


Email Address 3,645 2.2% 3,637 2.0%

Fund To Fund Trf 471 0.3% 438 0.2%

Indic Data 921 0.6% 764 0.4%


Rebalancer 243 0.1% 221 0.1%

Registration 1,924 1.2% 1,798 1.0%

Trf From Sda 37 0.0% 39 0.0%

Trf To Sda 78 0.0% 71 0.0%

GRAND TOTAL 165,234 100.0% 180,350 100.0%


Plan Totals

10/1/2015 to 9/30/2016 10/1/2016 to 9/30/2017

35

Recordkeeping - Participant History

Great-West continues to grow as a force in the Record keeping marketplace. We do record keeping in the 457(b), 401(a/k), 403(b), 408 markets as well as in the Institutional and Defined Benefit plan markets. The table below shows our participant growth as a record keeper in these markets

•12/31/2016 8,055,227

•12/31/2015 7,583,275

•12/31/2014 7,118,120

•12/31/2013 4,864,351

•12/31/2012 4,656,306

•12/31/2011 4,438,513

•12/31/2010 4,409,418

•12/31/2009 4,200,735

•12/31/2008 3,739,464

•12/31/2007 3,477,918

•12/31/2006 3,413,562

•12/31/2005 2,766,641

•12/31/2004 2,510,681

•12/31/2003 2,351,450

36

Recordkeeping Services

37

Government Relationships

Great-West has one of the strongest track records in the industry on renewing existing client relationships and adding new client relationships. Attached is a list of just a few of those recently renewed or new relationships we have formed.

Renewed Relationships:

•City of Houston

•State of Oklahoma

•State of Florida

•West Virginia Teacher’s Defined Contribution Retirement System

New Relationships:

•San Diego Schools (California)

•Washington State Plan (PERS/TRS/SERS)

•City of Aurora Police (Colorado)

•City of Livonia (Michigan)

38

Current Ratings

These are current ratings for Great-West Life & Annuity Insurance Company. These ratings are subject to change.

These ratings do not pertain to the investment performance of the underlying fund, other insurance affiliates or

subsidiaries, or non-insurance affiliates or subsidiaries of the company.

Rating Rating Service Current Rating Outlook

A+ A.M. Best Company, Inc.

-Financial Strength

Superior

Highest of ten categoriesStable

AA Standard & Poor's Ratings Services

-Financial Strength

Very Strong

Second highest of nine categoriesStable

AA Fitch Ratings

-Financial Strength

Very Strong


Aa3 Moody's Investors Service

-Financial Strength

Excellent


39

Five Year Financial Rating History

Fitch Moody’s S&P A.M. Best

2016 AA

Aa3 AA A+

2015 AA

Aa3 AA A+

2014 AA

Aa3 AA A+

2013 AA

Aa3 AA A+

2012 AA+

Aa3 AA A+

40

DISCLOSURES

Core securities, when offered, are offered through GWFS Equities, Inc. and/or other broker dealers.

GWFS Equities, Inc., Member FINRA/SIPC, is a wholly owned subsidiary of Great-West Life & Annuity Insurance Company.

Empower Retirement refers to the products and services offered in the retirement markets by Great-West Life & Annuity

Insurance Company (GWL&A), Corporate Headquarters: Greenwood Village, CO; Great-West Life & Annuity Insurance

Company of New York, Home Office: White Plains, NY; and their subsidiaries and affiliates. The trademarks, logos, service

marks, and design elements used are owned by their respective owners and are used by permission.

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