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EMPOWER <br /> CITY OF EVERETT DEFERRED COMPENSATION PLAN <br /> Welcome to Empower Retirement! We're singularly focused on retirement <br /> and committed to delivering exceptional service and support. Your <br /> enclosed migration documents offer enhancements to your participants and <br /> simplify your transition to Empower. <br /> Please review the migration package and sign where indicated on the Agreements and Services <br /> Signature page (signature page). Keep a copy for your records. <br /> Your Empower Services Agreement: This agreement outlines all the key services and <br /> features for the ongoing operation and administration of your retirement program. <br /> Reduced fees: In connection with your plan's transition to our recordkeeping platform, the <br /> following administrative fees will be reduced: <br /> • Your Overnight Fee will be reduced to $30. <br /> My Total Retirement: One of the many benefits offered by Empower is My Total Retirement— <br /> our managed account offering. My Total Retirement can help your participants reach their long- <br /> term goals and at the same time assist you with satisfying some of your fiduciary obligations. <br /> We have included the services agreement to add My Total Retirement for your participants at <br /> transition. Please sign the signature page to add the services. If we receive your signed election <br /> after the deadline referenced below, we will contact you separately to determine an effective <br /> date for offering the service for your participants. <br /> Education and advice: Your participants will now have access to free industry-leading <br /> education, and can add best-interest advice, where available, which provides key benefits such <br /> as: <br /> • The opportunity for increased plan balances. <br /> • Improved retirement outcomes. <br /> • Comprehensive education options for active, terminated and retired employees. <br /> If you would like to add advice services, please sign the signature page and Participant <br /> Fiduciary Services will be added as an additional feature to your plan. <br /> Great-West Life &Annuity Insurance Company (Great-West)will receive payments from <br /> Massachusetts Mutual Life Insurance Company (MassMutual) under separate services <br /> agreements as part of the sale of MassMutual's retirement business. These payments from <br /> MassMutual are fees for administrative services Great-West provides with respect to certain <br /> annuity contracts and funding agreements that MassMutual reinsured with or sub-contracted to <br /> Great-West or an affiliate and are not payments from the plan's MassMutual investment options. <br /> In addition, these payments are not fees for services to the plan or the plan's investment options <br /> and are not eligible to be credited towards any plan fees, plan expense arrangement or other <br /> ERISA spending account. The amount of these payments is determined as a function of assets <br /> invested in MassMutual mutual funds, collective investment trusts and separate accounts by <br /> plans for which Great-West or one of its affiliates, provide record keeping services. These <br />