I NVESTMENT R ESEARCH & A DVISORY GROUP A Registered Investment Adviser

1. Retirement Plan Analysis xth Quarter 20xx DC – New client template Save under the New Client’s name before editing CLIENT COMPANY NAME INVESTMENT RESEARCH & ADVISORY GROUP A Registered Investment Adviser

2. 1180 WEST PEACHTREE STREETSUITE 2475 ATLANTA, GEORGIA 30309 (404) 760-3730 - INSTITUTIONAL ADVISORY SERVICES - - PRIVATE CLIENT SERVICES - INVESTMENT RESEARCH & ADVISORY GROUP, INC. (IRA Group), is a registered investment adviser with the Securities & Exchange Commission. The data and content of this report has been prepared using information obtained from sources believed reliable. IRA Group has prepared this analysis using specific information provided by the client, administrative service provider and Morningstar. No representations are made as to its completeness or accuracy. The contents of this analysis are intended only for the purpose of assisting the client with its evaluation of investment performance and alternatives. It does not constitute an offer to buy or sell the securities mentioned herein. The reproduction or distribution of this analysis to any individuals or organizations outside of the client’s evaluation committee is forbidden without the written consent of Investment Research & Advisory Group

3. Economic Overview

4. Fiduciary Oversight

5. Summary of Fiduciary Activities • Review of Plan Metrics • Investment Performance Monitoring • Vendor Plan Management Review • Investment Style Due Diligence • Plan Design Benchmarking • Review of Plan Metrics • Investment Performance Monitoring • Vendor Plan Management Review • QDIA Due Diligence • Stable Value Due Diligence 1 2 3 4 5 6 7 Q1 Q4 8 9 10 11 12 13 14 15 16 17 18 19 20 21 Q2 Q3 22 23 24 25 26 27 28 29 30 31 • Review of Plan Metrics • Investment Performance Monitoring • Vendor Plan Management Review • Fee Benchmarking • Administrative Service Review • Fiduciary Training • Review of Plan Metrics • Investment Performance Monitoring • Vendor Plan Management Review • Investment Style Due Diligence • 404(c) Compliance Monitoring • Investment Policy Review

6. Plan Dashboard

7. Plan Statistics

8. Asset Allocation Source: Plan Recordkeeper

9. Portfolio & Target Date Fund Utilization Source: Plan Recordkeeper

10. Plan Metrics Sources: Plan Data - Recordkeeper, *National Averages – Plan Sponsor Council of America 2017

11. Investment Structure

12. Investment Committee Responsibilities VARIETY AND DIVERSIFICATION PERFORMANCE INVESTMENT POLICY

13. EXPECTED RISK Investment Policy Structure A MINIMUM OF ONE FUND WITHIN EACH ASSET CLASS MEETS PERFORMANCE CRITERIA Stable Value Fixed Income Multi Asset Core Equity Growth Equity Aggressive Equity International Equity ASSET CLASS • Money Market • Stable Value • Indiv GICs/BICs • Mid Value • Mid Blend • Mid Growth • Mid Index • Large Value • Large Blend • Large Growth • Small Value • Small Blend • Small Growth • Small Index • Mid Value • Mid Blend • Mid Growth • Large Value • Large Blend • Large Growth • Large Index • SmMid Value • SmMid Growth • World Stock • DivEmgMkts • Short-Term Bond • Interm-Term Bond • Long-Term Bond • Multi-sector Bond • High Yield Bond • World Bond • Conserv Allocation • Moderate Allocation • Aggress Allocation • Lifestyle • Target Date • Model Portfolios • Large Value • Large Blend • Large Growth • Large Index ELIGIBLE FUND TYPES Fund(s) E X P E C T E D R E T U R N Fund(s) Fund(s) FUND SELECTION Fund(s) Fund(s) Fund(s) Fund(s)

14. Current Investment Structure Stable Value Fixed Income Multi Asset Core Equity Growth Equity Aggressive Equity International Equity Emerging Mkts Intl Growth Industry Statistics* International Index <10 funds 10-15 funds 16-20 funds 21-25 funds >26 funds 12% 26% 27% 16% 19% Intl Value Small Cap Growth Small Cap Index Small Value Mid Cap Growth Mid Cap Index Mid Cap Value Large Growth Inst’l 500 Index Large Value Target Date Funds High Yield Actively-managed fund Index fund Bond Mkt Index Intermediate Bond Stable Value *Source: Plan Sponsor Council of America 2017

15. Domestic Equity Styles LARGE CAP VALUE LARGE CAP BLEND LARGE CAP GROWTH Large Growth Large Value 500 Institutional Index Blend Growth Value Giant Large Medium Small Micro Weighted average of domestic stock holdings 75% of fund’s domestic stock holdings MID CAP VALUE MID CAP BLEND MID CAP GROWTH Mid Cap Value Mid Cap Index Mid Cap Growth SMALL CAP VALUE SMALL CAP BLEND SMALL CAP GROWTH Small Value Small Cap Index Small Growth Source: Morningstar

16. International Equity Styles LARGE CAP VALUE LARGE CAP BLEND LARGE CAP GROWTH International Index International Value Stock International Growth SMALL-MID CAP VALUE SMALL-MID CAP GROWTH Weighted average of domestic stock holdings 75% of fund’s domestic stock holdings OTHER Source: Morningstar

17. Next four slides are used once per year – Q4 reports 404(c) Compliance

18. 404(c) Regulations 404(c) compliance is voluntary and offers a "safe harbor" for plan fiduciaries to not be liable for investment losses suffered by plan participants who self-direct their investments. 1 A participant must be able to choose from three or more investment funds, each of which has materially different risk and return characteristics. 2 A participant must be able to diversify the allocation of investment in the participant’s account to minimize the risk of large loss. 3 A participant must be able to choose from three or more investment funds, each of which is diversified.

19. 404(c) Compliance (1) A participant must be able to choose from three or more investment funds, each of which has materially different risk and return characteristics. Past performance is no guarantee of future results. Performance is historical and includes reinvestment of dividends and capital gains. Please see disclosure pages at the end of this report.

20. 404(c) Compliance (2) A participant must be able to diversify the allocation of investment in the participant’s account to minimize the risk of large loss. • This is an illustration only. Performance for the Portfolios is hypothetical and based upon designated investment funds represented in the plan and target allocation percentages at the point of calculation. Past performance is no guarantee of future results. Performance is historical and includes reinvestment of dividends and capital gains. Please see disclosure pages at the end of this report.

21. 404(c) Compliance (3) A participant must be able to choose from three or more investment funds, each of which is diversified.

22. Performance Analysis

23. Performance Summary Data as of XX/XX/XXXX Past performance is no guarantee of future results. Performance is historical and includes reinvestment of dividends and capital gains. Please see disclosure pages at the end of this report.

24. Performance Summary Data as of XX/XX/XXXX Past performance is no guarantee of future results. Performance is historical and includes reinvestment of dividends and capital gains. Please see disclosure pages at the end of this report.

25. Performance Summary Data as of xx/xx/xxxx Past performance is no guarantee of future results. Performance is historical and includes reinvestment of dividends and capital gains. Please see disclosure pages at the end of this report.

26. Performance Summary Data as of xx/xx/xxxx Past performance is no guarantee of future results. Performance is historical and includes reinvestment of dividends and capital gains. Please see disclosure pages at the end of this report.

27. Target Risk Portfolios Data as of xx/xx/xxxx This is an illustration only. Your actual investment results will differ. Performance for the Portfolios is hypothetical and based upon designated investment funds represented in the plan and target allocation percentages at the point of calculation. Target allocations and individual investment options may be changed as determined by the plan sponsor which will affect the historical performance indicated. Cash flow and rebalancing will also affect actual portfolio returns. In calculating portfolio returns, performance of 90-day T-Bills has been substituted for the plan’s cash equivalent fund option. Participants can choose to invest in these Portfolios or any of the plan funds in amounts that match their respective objectives. Composite Index performance represents a weighted composite of the following indices: 90-Day T Bills (cash equivalents), Barclays Aggregate Bond Index, Credit Suisse HY Index, Citi WGBI NonUSD Index (fixed income), S&P 500 Index, Russell Mid Cap Index, Russell 2000 Index (domestic stock), MSCI EAFE Index, MSCI EM Index (international stock), Goldman Sachs Commodity (commodity) and DJ US Real Estate (real estate), in proportion to how the portfolios are allocated among the relevant asset classes as indicated at the top of each column. Past performance is not a predictor of future performance. Source: Morningstar.

28. Target Date Portfolios Data as of xx/xx/xxxx This is an illustration only. Your actual investment results will differ. Performance for the Portfolios is hypothetical and based upon designated investment funds represented in the plan and target allocation percentages at the point of calculation. Target allocations and individual investment options may be changed as determined by the plan sponsor which will affect the historical performance indicated. Cash flow and rebalancing will also affect actual portfolio returns. In calculating portfolio returns, performance of 90-day T-Bills has been substituted for the plan’s cash equivalent fund option. Participants can choose to invest in these Portfolios or any of the plan funds in amounts that match their respective objectives. Composite Index performance represents a weighted composite of the following indices: 90-Day T Bills (cash equivalents), Barclays Aggregate Bond Index, Credit Suisse HY Index, Citi WGBI NonUSD Index (fixed income), S&P 500 Index, Russell Mid Cap Index, Russell 2000 Index (domestic stock), MSCI EAFE Index, MSCI EM Index (international stock), Goldman Sachs Commodity (commodity) and DJ US Real Estate (real estate), in proportion to how the portfolios are allocated among the relevant asset classes as indicated at the top of each column. Past performance is not a predictor of future performance. Source: Morningstar.

29. Investment Evaluation Criteria Evaluation Criteria Objective 3-Year Return Rank < 50th percentile 5-Year Return Rank < 35th percentile 10-Year Return Rank < 25th percentile Calendar-Year Return Rank < 50th percentile 70% of measurement periods Manager Tenure > 3 years Alpha > 0.00% Style Attribution Consistent with stated mandate Fund Expenses < peer group average/declining with fund asset growth Fund Assets Stable Value Fixed Income Multi-Asset Core Equity Growth Equity Aggressive Growth Equity International Equity No requirement No requirement No requirement No requirement < $8 billion < $4 billion No requirement Sector Allocation Representation in a minimum of 8 out of 12 economic sectors Security Concentration > 50 portfolio holdings/< 50% of assets in top 10 holdings Growth Equity Aggressive Growth Equity $2 billion - $10 billion $150 million - $2 billion Median Mkt Capitalization Structure

30. Investment Policy Filters Data as of xx/xx/xxxx Plan Fund Offerings Investment Policy Evaluation Index Funds Actively-Managed Funds P A R A M E T E R S (1) 3-Year Performance Ranking < 50TH Percentile (2) 5-Year Performance Ranking < 35TH Percentile (3) 10-Year Performance Ranking < 25TH Percentile (1) 3-Year Net Performance Spread +/- 0.50% (2) 5-Year Net Performance Spread +/- 0.50% (3) 10-Year Net Performance Spread +/- 0.50% Please see disclosure pages at the end of this report.

31. Investment Policy Filters Alternate version of previous slide Data as of xx/xx/xxxx Plan Fund Offerings Investment Policy Evaluation Index Funds Actively-Managed Funds P A R A M E T E R S (1) 3-Year Performance Ranking < 50TH Percentile (2) 5-Year Performance Ranking < 35TH Percentile (3) 10-Year Performance Ranking < 25TH Percentile (1) 3-Year Net Performance Spread +/- 0.50% (2) 5-Year Net Performance Spread +/- 0.50% (3) 10-Year Net Performance Spread +/- 0.50% Please see disclosure pages at the end of this report.

32. Historical Performance vs. Objectives

33. Overall Investment Policy Compliance A MINIMUM OF ONE FUND WITHIN EACH ASSET CLASS MEETS PERFORMANCE CRITERIA Stable Value Fixed Income Multi Asset Core Equity Growth Equity Aggressive Equity International Equity Emerging Markets International Growth International Index Intl Stock Small Growth Small Cap Index Small Value Mid Growth Mid Index Mid Value Large Growth 500 Inst’l Index Large Value Target Date Funds High Yield Bond Bond Market Index Intermediate Bond Stable Value

34. Recommendation Summary

35. Fee Analysis

36. Investment Expense Summary Data as of xx/xx/xxxx

37. Administrative Revenue Reconciliation Data as of xx/xx/xxxx MD to set up how client’s fees are paid

38. Fiduciary Benchmarks Comparative Groups Data as of xx/xx/xxxx MD will provide data from Fbi report Included one time per year Comparative Benchmark Groups Update this Source: Fiduciary Benchmarks January 31, 2018; Report ID:56408, Plan Number: 14056351 Source: Fiduciary Benchmarks March 01, 2018; Report ID: 54517 14

39. Fee Benchmarking Analysis MD will provide data from Fbi report Included one time per year Data as of 12/31/2017 0.78% 1.00% Update this Source: Fiduciary Benchmarks January 31, 2018; Report ID:56408, Plan Number: 14056351 Source: Fiduciary Benchmarks March 01, 2018; Report ID: 54517 15

40. Services vs. Fees MD will provide data from Fbi report Included one time per year Data as of 12/31/2017 Fee Point™ demonstrates the value add for the services provided by your Recordkeeper and Investment Advisor. Fiduciary Benchmarks reviews the services provided and determines the fair amount you should be paying for those services based on comparisons with your Benchmark Group (BMG). Fee Point™ Comparison of Services vs. Fees Update this Source: Fiduciary Benchmarks January 31, 2018; Report ID:56408, Plan Number: 14056351 Source: Fiduciary Benchmarks March 01, 2018; Report ID: 54517 16

41. Additional Considerations

42. Additional Considerations • XXXXXXXX • XXXXXXXX • xxxxxxxxxxx • XXXXXXXX • xxxxxxxx • xxxxxxxxx

43. Disclosures This report was prepared by Investment Research & Advisory Group, Inc., a registered investment adviser. A copy of the firm's Form ADV which contains important disclosures is available upon request. Investment Research & Advisory Group, Inc. does not render legal or tax advice. Data contained in this report was obtained from sources believed to be reliable: Morningstar. However, no assurance can be made as to the report's completeness or accuracy. The information, data, analyses, and opinions contained herein are provided solely for informational purposes and therefore are not an offer to buy or sell a security. The information provided should be used only as a general guide to investment performance. The figures presented should not be relied upon for tax purposes. The performance data presented is historical and should not be considered indicative of future results. Principal value and investment return will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original value. Client assets are not FDIC-insured and may lose value. Investment returns are net of all fees. In certain instances, performance of funds structured as separate accounts or commingled/collective trusts may be presented on a gross basis (before the deduction of fees). Mutual fund performance reflects performance without adjusting for sales charges or the effects of taxation, but is adjusted to reflect all actual ongoing fund expenses and assumed reinvestment of dividends and capital gains. If adjusted for sales charges and the effects of taxation, the performance would be reduced. In certain instances, return comparisons to various market indices have been made throughout this report. However, indices are not actively managed and investors cannot invest directly in indices. When used as a comparative benchmark though, indices can be a useful gauge of security or mutual fund performance when the characteristics of the index are comparable to the security or fund being analyzed. Please refer to the index definitions provided for more information. INVESTMENT RISK International/Emerging Market Funds: Investors should note that funds that invest in international securities involve special additional risks. These risks include, but are not limited to, currency risk, political risk, and risk associated with varying account standards. Investing in emerging markets may accentuate these risks. Sector Funds: Investors should note that funds that invest exclusively in one sector or industry involve additional risks. The lack of industry diversification subjects the investor to increased industry-specific risks. Small Cap Funds: Investors should note that funds that invest in stocks of small companies involve additional risks. Smaller companies typically have a higher risk of failure, and are not as well-established as larger blue-chip companies. Historically, smaller-company stocks have experienced a greater degree of market volatility than the overall market average. Mid Cap Funds: Investors should note that funds that invest in companies with market capitalizations below $10 billion involve additional risks. The securities of these companies may be more volatile and less liquid than the securities of larger companies. Large Cap Funds: Stocks in the top 70% of the capitalization of the U.S. equity market are defined as large-cap. These portfolios tend to invest across the spectrum of U.S. industries, and owing to their broad exposure, the portfolios' returns are often similar to those of the S&P 500 Index. High Yield Bond Funds: Investors should note that funds that invest in lower-rated debt securities involve additional risks because of the lower credit quality of the securities in the portfolio. The investor should be aware of the possible higher level of volatility and increased risk of default. FIXED-INCOME PORTFOLIO STATISTICS DurationA time measure of a bond’s interest rate sensitivity. Average effective duration is a weighted average of the duration of the underlying fixed income securities within the portfolio. Portfolio Turnover Ratio A decent proxy for how frequently a manager trades his or her portfolio. The inverse of a fund’s turnover ratio is the average holding period for a security in the fund. As turnover increases, a fund’s brokerage costs typically rise as well. RISK MEASURES Standard deviation: A statistical measure of the volatility of the fund’s returns. Alpha: A measure of the difference between a fund’s actual returns and its expected performance, given its level of risk (as measured by beta). Alpha is often seen as a measure of the value added or subtracted by a portfolio manager. Beta: A measure of a fund’s sensitivity to market movements. A portfolio with a beta greater than 1 is more volatile than the market, and a portfolio with a beta less than 1 is less volatile than the market. R-squared: Reflects the percentage of a fund’s movements that are explained by movements in its benchmark index, showing the degree of correlation between the fund and the benchmark. This figure is also helpful in assessing how likely it is that alpha and beta are statistically significant. Portfolio Analysis: The Morningstar Style Box reveals a fund’s investment strategy. For equity funds the vertical axis shows the market capitalization of the stocks owned and the horizontal axis shows investment style (value, blend or growth). Top 10 Holdings: The aggregate assets, expressed as a percentage, of the top 10 portfolio holdings in the fund. This figure is meant to be a measure of portfolio risk. Specifically, the higher the percentage, the more concentrated the fund is in a few companies or issues, and the more the fund is susceptible to the market fluctuations in these few holdings. The figure is calculated from the most recent available fund holdings. % of Assets in Top 10 Holdings: A figure which provides insight into the degree to which a portfolio is diversified. Used in combination with the total number of holdings, it can indicate how concentrated a fund is. Audited Expenses: The percentage of fund assets paid for operating expenses and management fees. The expense ratio typically includes the following types of fees: accounting, administrator, advisor, auditor, board of directors, custodial, distribution (12b-1), legal, organizational, professional, registration, shareholder reporting, sub-advisor, and transfer agency. The expense ratio does not reflect the fund’s brokerage costs or any investor sales charges. In contrast to the gross expense ratio, the net expense ratio does reflect fee waivers in effect during the time period.

44. Disclosures (Cont.) 404(C) COMPLIANCE 1: This is an illustration only and is not intended to predict future performance. Past performance does not predict future returns. Returns shown are for the trailing 5-year period. Risk is defined as the standard deviation of monthly returns over the trailing 5-year period. 404(C) COMPLIANCE 2: This is an illustration and is not intended to reflect actual performance of a portfolio. Cash flow and rebalancing will affect actual portfolio returns. Performance is calculated assuming an investment in each fund in accordance with the designated percentages at the beginning of the measurement period. Beta and standard deviation reflect the trailing 5-year period only. Past performance does not predict future returns. SECTOR EXPOSURE Morningstar’s sector structure starts by dividing the stock universe of approximately 6,300 U.S. equities and 21,100 global equities into 128 industries ranging from semiconductors to medical equipment. These industries are classified into 40 industry groups, which are then used to construct 11 separate sectors. Finally, each of these 11 sectors is assigned to one of three economic spheres, or Super Sectors: Cyclical, Defensive and Sensitive. Cyclical Basic Materials: Companies that manufacture chemicals, building materials and paper products. This sector also includes companies engaged in commodities exploration and processing. Companies in this sector include ArcelorMittal, BHP Billiton and Rio Tinto. Consumer Cyclical: This sector includes retail stores, auto and auto parts manufacturers, companies engaged in residential construction, lodging facilities, restaurants and entertainment companies. Companies in this sector include Ford Motor Company, McDonald’s and News Corporation. Financial Services: Companies that provide financial services which includes banks, savings and loans, asset management companies, credit services, investment brokerage firms, and insurance companies. Companies in this sector include Allianz, J.P. Morgan Chase and Legg Mason. Real Estate: This sector includes mortgage companies, property management companies and REITs. Companies in this sector include Kimco Realty Corporation, Vornado Realty Trust and Westfield Group. DefensiveConsumer Defensive: Companies engaged in the manufacturing of food, beverages, household and personal products, packaging, or tobacco. Also includes companies that provide services such as education & training services. Companies in this sector include Philip Morris International, Procter & Gamble and Wal-Mart Stores. Healthcare: This sector includes biotechnology, pharmaceuticals, research services, home healthcare, hospitals, long-term care facilities, and medical equipment and supplies. Companies in this sector include Astra Zeneca, Pfizer and Roche Holding. Utilities: Electric, gas, and water utilities. Companies in this sector include Electricité de France, Exelon and PG&E Corporation. Sensitive Communication Services: Companies that provide communication services using fixed-line networks or those that provide wireless access and services. This sector also includes companies that provide internet services such as access, navigation and internet related software and services. Companies in this sector include AT&T, France Telecom and Verizon Communications. Energy: Companies that produce or refine oil and gas, oil field services and equipment companies, and pipeline operators. This sector also includes companies engaged in the mining of coal. Companies in this sector include BP, ExxonMobil and Royal Dutch Shell. Industrials: Companies that manufacture machinery, hand-held tools and industrial products. This sector also includes aerospace and defense firms as well as companies engaged in transportations and logistic services. Companies in this sector include 3M, Boeing and Siemens. Technology: Companies engaged in the design, development, and support of computer operating systems and applications. This sector also includes companies that provide computer technology consulting services. Also includes companies engaged in the manufacturing of computer equipment, data storage products, networking products, semi-conductors, and components. Companies in this sector include Apple, Google and Microsoft. REGIONAL EXPOSURE This data set provides a broad breakdown of a fund's geographical exposure. Each region's exposure is presented as a percentage of non-cash equity assets held by the fund. Regional exposure information summarizes a portfolio's exposure to geopolitical risk. It also provides a reference point for understanding fund returns. Some fund managers follow a "top down" discipline, where they direct their investments into regions they consider good opportunities. Regions: North America, Latin America, United Kingdom, Europe Developed, Europe Emerging, Africa/Middle East, Japan, Australasia, Asia Developed, Asia Emerging.

45. Disclosures (Cont.) TICKER The Nasdaq or NYSE assigned symbol commonly used to locate the fund on electronic price-quoting systems. FUND MANAGER Name of the individual or individuals who are employed by the advisor or subadvisor who are directly responsible for managing the fund’s portfolio, as taken directly from the fund's prospectus. MANAGER TENURE The number of years that the current manager has been the portfolio manager of the fund. OVERALL MORNINGSTAR RATING The Morningstar Rating for funds, commonly called the star rating, is a measure of a fund's risk-adjusted return, relative to funds in its category. Funds are rated from one to five stars, with the best performers receiving five stars and the worst performers receiving as single star. Risk-adjusted return is calculated by subtracting a risk penalty from each funds total return, after accounting for all loads, sales charges, and redemption fees. The risk penalty is determined by the amount of variation in the fund's monthly return, with emphasis on downward variation. The greater the variation, the larger the penalty. Funds are ranked within their categories and stars are assigned as follows: Top 10%    Five stars Next 22.5%    Four stars Middle 35%   Three stars Next 22.5%    Two stars Bottom 10%    One star For multi share class funds, each share class is counted as a fraction of a fund within this scale and rated separately, which may cause slight variations in the distribution percentages. This accounting prevents a single portfolio in a smaller category from dominating any portion of the rating scale. Funds are rated for up to three periods, the trailing 3, 5, and 10-years, and ratings are recalculated each month. For funds that remain in the same Morningstar Category for the entire evaluation period, the following weights are used to calculate an overall rating: Age of fund overall rating: At least three years, but less than five 100% three-year rating At least five years, but less than 10 60% five-year rating 40% three-year rating At least 10 years 50% 10-year rating 30% five-year rating 20% three-year rating  http://www.morningstar.com/ PERFORMANCE RANKING PERCENTILE IN FUND CATEGORY This is the fund’s total-return percentile rank relative to all funds that have the same Morningstar Category. The highest (or most favorable) percentile rank is 1 and the lowest (or least favorable) percentile rank is 100. The top-performing fund in a category will always receive a rank of 1. PERFORMANCE RANKING QUARTILE IN FUND CATEGORY If a fund's total-return percentile rank relative to all funds that are classified in the same Morningstar Category is between 1-25, it ranks in the 1st quartile; a percentile ranking of 26-50 represents the second quartile; a percentile ranking of 51-75 represents the 3rd quartile; a percentile ranking of 76-100 represents the 4th quartile.

46. Disclosures (Cont.) INDEX DEFINITIONS: These links a re provided as a courtesy to you. IRA Group does not operate or control these websites. Clients should review the information on these websites carefully. Morningstar: http://www.morningstar.com/ 90-Day Treasury Bills: https://ycharts.com/indicators/3_month_t_bill Barclays Index: https://index.barcap.com/ CSFB High Yield Bond Index: https://www.credit-suisse.com/us/en/asset-management/solutions-capabilities/fixed-income/credit-investments/high-yield-bonds.html Citigroup Non-$ World Government Bond Index: https://www.yieldbook.com/m/indices/single.shtml?ticker=WGBI Goldman Sachs Index: http://www.goldmansachs.com/what-we-do/index.html MSCI Index: https://www.msci.com/indexes Russell Index: http://www.ftserussell.com/ Standard & Poor's 500 Index (S&P 500): http://us.spindices.com/indices/equity/sp-500