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4. Retirement Income Projection Tools and Services AAG does not charge a fee to plan sponsors,participants or IRA holders for the retirement income projection tools and services. 5. Other Fees and Expenses In addition to any previously negotiated and disclosed recordkeeper fees, commission payments and other administrative servicing fees and expenses for each plan, AAG may pay cash compensation or referral fees to unaffiliated firms for soliciting and referring plan sponsors and their participants to enroll in AAG's MA service. Accounts invested in mutual funds,separate accounts,collective investment alternatives and other investments may be subject to other investment fees. Fees such as fund operating expenses or redemption fees may be imposed at the investment company level. Information about the fees imposed by specific investment choices is available in thefund prospectuses or offering memoranda for the securities.AAG may allocate member assets to funds or investment alternatives with these fees or costs.All securities transactions that occur as a result of the services provided by AAG as described in this Brochure are executed by GWFS Equities,Inc.("GWFS"),for which it may receive compensation in the form of 12b-1 fees or other compensation from mutual fund companies or from the other investments that may be available as program investment options. A participant will pay advisory fees to AAG for the MA service and indirectly to GWCM if Great-West Funds are included in the retirement plan investment options.The fees paid to GWCM for management of the Great-West Funds are included in the fund share price. Item 6—Performance-Based Fees and Side—by Side Management AAG does not charge any performance—based or side-by side management fees. Item 7—Types of Clients AAG provides investment advice to participants in their retirement plans for which Empower Retirement provides recordkeeping services.Members typically must be considered residents of the United States,the U.S.Virgin Islands,Guam or Puerto Rico.The plan sponsor may apply additional restrictions for participation due to plan or regulatory requirements.AAG offers investment advisory and management services to account holders of the Empower Retirement Premier IRA. Item 8—Methods of Analysis and Investment Strategies The Services described in this Brochure are based on the proprietary asset allocation and retirement income projection methodologies developed by Morningstar Investment Management.The development of investment advice by Morningstar Investment Management involves the investment methodologies across the products and services described herein. Morningstar Investment Management or its affiliates focus on specific investment areas such as capital market assumptions and a valuation-driven approach to asset allocation. Analysis Methods In providing advisory services,Morningstar Investment Management reviews available quantitative data to analyze and screen the investment options within a plan.The portfolios are typically constrained to a set of investment options defined by our client,which may include their affiliated investment products.The analysis will include quantitative analytics and fundamental research on the investment options available. Morningstar Investment Management draws on Morningstar's comprehensive database of fund and security analytics, Once the available data is identified,Morningstar Investment Management processes the data using a series of optimization routines.These optimization routines serve as a blueprint for how the asset classes are combined to help achieve an optimal portfolio for a given level of risk. The model portfolios include both equity and non-equity asset classes that are chosen to represent a broad range of investment categories available in a plan sponsor's retirement plan menu. The asset allocation process requires that there be significant benefit(generally through increased diversification)to adding the asset class to the model portfolios. In addition,investment options within the investment/plan menus must provide significant exposure to the desired asset class in order to be selected.The asset classes that are ultimately used will depend on the available investment options that are considered for the construction of the fund-level model portfolios. In other words, Morningstar Investment 10