Enroll today. Enjoy tomorrow. University System of Georgia Benefits 403(b) and 457(b) Retirement Plans SAVING : INVESTING : PLANNING

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1 Enroll today. Enjoy tomorrow. University System of Georgia Benefits 403(b) and 457(b) Retirement Plans SAVING : INVESTING : PLANNING

2 Plan Highlights 2

3 Plan Highlights It s your future. Make it the one you envision. As an employee of the University System of Georgia, you have a special opportunity to save for your future. Depending on which institution you work for, you can contribute to a 403(b) plan, a 457(b) plan, or both. You set aside money through payroll reduction contributions that lower your taxable income and may reduce your current income taxes. You may also make after-tax contributions to a Roth account in the plan by convenient payroll reduction. Either way, taxes on your earnings from your account are deferred until withdrawal. Withdrawals from a Roth account are potentially tax free if certain conditions are met. Pay yourself first. Decide how much, then save automatically by convenient payroll reduction. It doesn t get much simpler. This is not your plan document. The administration of each plan is governed by the actual plan document. If discrepancies arise between this summary and the plan document, the plan document will govern. Click VALIC.com/usg 1

4 Plan Highlights Enroll in the University System of Georgia 403(b) and 457(b) Retirement Plans Here are a few reasons your plan may be your most valuable opportunity to save for retirement: You contribute automatically by convenient payroll reduction. You can contribute pretax dollars, which may reduce your current income taxes. You decide how to invest your contributions. You defer taxes on interest and earnings until withdrawal. Taxes must be paid at withdrawal, and federal withdrawal restrictions apply. You may incur a 10% federal early withdrawal tax penalty if you withdraw funds from your 403(b) account or from amounts rolled over to the 457(b) plan from non-457(b) plans before age 59½. Enrolling is easy! Here s how It s easy to join simply decide how much you want to save and how you want to invest your money. By phone Call the Enrollment Center at Online Visit the custom website created just for the University System of Georgia employees at VALIC.com/usg In person Your local VALIC financial advisor will walk through the enrollment process with you Once you enroll, you can change your contribution rate at any time. Use the VALIC.com calculators to determine the appropriate contribution rate to meet your retirement goal, or work with your VALIC financial advisor. Custom website Take advantage of the custom website we provide specially for University System of Georgia employees. For additional information about the plan, including access to fund performance, prospectuses, financial planning tools and more, visit VALIC.com/usg. 42

5 Plan Highlights It s your choice In addition to the 403(b) plan, University System of Georgia also sponsors a 457(b) Deferred Compensation Plan (DCP). You can contribute to either or both plans. Contributing to both plans allows you to save even more for retirement, tax deferred. 403(b) Retirement Savings Plan 457(b) Deferred Compensation Plan Your contributions As much as 100% of your annual includible compensation, up to $18,500 in You can increase or decrease the amount you contribute to the plan as often as the University System of Georgia allows. As much as 100% of your annual includible compensation, up to $18,500 in You can increase or decrease the amount you contribute to the plan as often as the University System of Georgia allows. Catch-up contributions You might be eligible to contribute up to an additional $3,000 in 2018 if you have at least 15 years of service with the employer $6,000 in 2018 if you are age 50 or older If you are eligible for both catch-up provisions, you must exhaust the 15-year catch-up first. You may be eligible to contribute up to an additional $18,500 in 2018 if you are within the last three taxable years ending the year before you reach normal retirement age (as specified in the plan) and have undercontributed in prior years, or $6,000 in 2018 if you are age 50 or older If you are eligible for both, you cannot combine the two catch-up amounts, but you can contribute up to the higher amount. Please check with your employer or human resources department to determine whether your institution offers both plans. Pretax or Roth contributions You have a choice regarding your contributions to your 403(b) plan. You can direct all of your contributions to a traditional pretax account, to a Roth account or to a combination of the two. Contributions to a Roth account are after-tax. Regardless of your election, you are subject to the annual contribution limits detailed previously. Qualified distributions from a Roth account are tax-free. Generally, a qualified Roth distribution is a distribution that (1) is withdrawn after the end of the five-year period beginning with the first year in which a Roth contribution was made to the plan, and (2) is after age 59½, death or disability. Click VALIC.com/usg 3

6 Plan Highlights A plan for the long term Vesting Vesting refers to your ownership of money in your retirement plan account. You are always100% vested in your own contributions, plus rollover contributions, and any earnings they generate. Account statement We send all active participants a comprehensive account statement every calendar quarter. This account statement documents all activity for the preceding period, including total contributions and transfers among investment options. You can choose to go paperless if you wish. Receive secure, paperless, electronic notification when your retirement account statements, transaction confirmations and certain regulatory documents are available online through our secure connection, PersonalDeliver-e. Managing these items electronically is faster and more secure than paper mail. Simply log in to your account at VALIC.com/usg to sign up for this free service. Account consolidation You might be able to transfer your vested retirement account balance from a prior employer s plan to your retirement plan with University System of Georgia. This may be a way to simplify your financial profile and to ensure your overall investments are suitably diversified and consistent with your investment preferences. However, before moving funds, check with your other provider to determine if your account has any restrictions, imposes a withdrawal penalty or provides favorable terms. 4 64

7 Plan Highlights Withdrawals Generally, you can withdraw your account balance if any of these events apply: 403(b) Retirement Savings Plan Turning age 59½ Your death Your disability Severance from employment Immediate financial hardship 457(b) Deferred Compensation Plan Turning age 70K Your death Severance from employment Unforeseeable emergencies You must begin taking distributions when you reach age 70½ or retire from the University System of Georgia, whichever occurs later. Remember that income tax is due upon withdrawal, and withdrawals from your 403(b) account before age 59½ are subject to federal restrictions and may be subject to a 10% federal early withdrawal tax penalty. The 10% penalty also applies to the amounts rolled over to the 457(b) plan from non-457(b) eligible retirement plans. Qualified distributions from a Roth account are tax-free. Generally, a qualified Roth distribution is a distribution that (1) is withdrawn after the end of the five-year period beginning with the first year in which a Roth contribution was made to the plan, and (2) is after age 59½, death or disability. Click VALIC.com/usg 5

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9 With more people approaching retirement, stand out from the crowd The simple truth is that most people haven t invested the time or money to build a secure financial future. Recent studies show that: 16% of workers say they are not at all confident about having enough money for a comfortable retirement* 26% of workers have less than $1,000 in savings, and 54% say their savings and investments total less than $25,000* Only 26% of workers are very confident about having enough money to pay basic living expenses in retirement* The good news is The good news is that wherever you may be in your working career, you have several sources to access for retirement income, including: Pension plans 403(b) and 457(b) retirement savings plans Social Security Savings/investments IRAs Some of these sources offer a built-in safety net for a small portion of the population. For everyone else, options need to be weighed and decisions made. *Source: Lisa Greenwald, Craig Copeland and Jack VanDerhei, The 2017 Retirement Confidence Survey -- Many Workers Lack Retirement Confidence and Feel Stressed About Retirement Preparations, EBRI Issue Brief, no. 431 (Employee Benefits Research Institute), March 21, Click VALIC.com/usg 7

10 Plan Highlights 5 Reasons to save more 1 We re living longer Life expectancy has increased dramatically and continues to rise. You could spend decades enjoying retirement. Average Life Expectancy 85.5 Years 83 Years Source: National Center for Health Statistics from birth, Retirement lifestyles are changing People today are reinventing retirement and staying active longer. That takes more money. For example, generally, a worker will need 11 times their final pay at age 65 to maintain the same standard of living with an average life expectancy. Source: Aon Consulting, The Real Deal 2015 Retirement Adequacy at Large Companies. 10 8

11 3 Inflation isn t going away Inflation diminishes the real annual rate of return on your investment. It also reduces your purchasing power over time. Either way, inflation erodes the value of your money. That means you need a retirement plan that factors inflation into its calculations. Inflation has averaged around 3% annually for the past 20 years, Today In 20 years In 40 years which may not sound like much, but it can take a big bite. For example, in 40 years you ll need $130,482 to equal $40,000 today. $40,000 $72,244 $130,482 Source: InflationData.com, Average Annual Inflation Data by Decade, Social Security outlook Social Security was never designed to do more than supplement retirement income. Estimated average annual benefit payable to retired worker in 2017* $16,320 Estimated average annual benefit payable to couple in 2017* $27,120 Maximum annual benefit for a worker at full retirement in 2017* $32,244 * After 0.3% COLA Social Security is also under increasing stress as baby boomers retire and fewer workers remain to support the system. With less money coming in and more retirees collecting benefits, current projections indicate a potential reduction in future benefits. Fact Sheet: 2017 Social Security Changes. 5 Rising healthcare expenses As we age, more of our money is likely to be needed for healthcare and related medical expenses. And according to many studies, the rate of inflation for healthcare is likely to continue for years to come. Source: Willis Towers Watson 2016 Emerging Trends in Health Care Survey. Click VALIC.com/usg 9

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13 Make time your ally Every day you postpone saving means less time to benefit from compound interest. The only way to make up for lost time is to save more in the years remaining until retirement. Consider a hypothetical 25-year-old who saved $300 a month through pretax salary reduction contributions to a tax-qualified retirement plan. She saved for 10 years, then left the money invested. Assuming a 5% annual rate of return on investment, our young investor would have accumulated more than $200,000 by the time she was 65. And her out-of-pocket cash outlay was just $36,000! Remember, investing involves risk, including possible loss of principal. However, a 35-year-old in the same plan would have to save at the same rate for 21 years to accumulate $200,000 by age 65, and would have to contribute about $75,600 out of pocket. A 45-year-old contributing the same amount would have to save for 27 years to reach $200,000. His out-of-pocket cash outlay? $97,200. And he wouldn t reach his goal until age 72! (See chart.) Your out-of-pocket cost to accumulate $200,000 Deposits $36, years old $300 per month for 10 years $75, years old $300 per month for 21 years $97, years old $300 per month for 27 years NOTE: $300 in pretax contributions would equal about $400 out of pocket if paid with after-tax dollars. This chart compares the total out-of-pocket costs required to fund the retirement goals of three taxqualified plan investors who began contributing $300 a month at different ages. The example assumes a 5% annual rate of return. Tax-qualified plan accumulations are taxed as ordinary income when withdrawn. Federal restrictions and a 10% federal early withdrawal tax penalty can apply to early withdrawals. This chart is hypothetical and should only be viewed as an example. It does not reflect the return of any specific investment and is not a guarantee of future income. Remember, investing involves risk, including the possible loss of principal. Click VALIC.com/usg 11

14 Why enroll? It s a simple, effective way to build your future A tax-deferred retirement plan is an easy way to set aside money for your future. You contribute to the plan through convenient payroll reduction before withholding tax is calculated. This reduces your taxable income while you save for retirement. Taxes on all interest and earnings from your account are deferred until withdrawal, usually at retirement. (Remember that income taxes are payable upon withdrawal, and federal restrictions and tax penalties can apply to early withdrawals, depending on your contract.) You re in control You decide how to invest the money in your retirement account from among the investment options available in your plan. Your retirement plan offers access to investment options covering a broad spectrum of asset categories and classes. This gives you the flexibility to create a diversified investment mix to suit your individual needs and goals. Keep in mind that investments in variable annuities and mutual funds fluctuate in value, so they could, when redeemed, be worth more or less than the original cost. Bear in mind that investing involves risk, including possible loss of principal. The advantages of a tax-deferred plan Taxable account Tax-deferred account $81,500 $65,700 $35,400 $40,600 $14,500 $15, years 20 years 30 years This chart compares the hypothetical results of contributing $100 each month to (1) a taxable account and (2) a tax-qualified retirement account. Bear in mind that a $100 pretax contribution to a tax-qualified account has a current cost of $75 (assuming a 25% income tax bracket) and also reduces current taxable income. The chart assumes a 5% annual rate of return. Remember investing involves risk, including possible loss of principal. Fees and charges, if applicable, are not reflected in this example and would reduce the amount shown. Income taxes on tax-deferred accounts are payable upon withdrawal. Federal restrictions and a 10% federal early withdrawal tax penalty may apply to withdrawals prior to age 59½. This information is hypothetical and only an example. It does not reflect the return of any investment and is not a guarantee of future income. Lower maximum capital gains rates may apply to certain investments in a taxable account (subject to IRS limitations, capital losses may also be deducted against capital gains), which would reduce the differences between the changes of the accounts shown in the chart. You should consider your personal investment horizon and current and anticipated income tax brackets when making investment decisions, as they may further affect the results of the comparison

15 University System of Georgia 403(b) Plan & 457(b) Plan TIAA plan highlights We re here to help If you need assistance with enrolling online, call TIAA at , weekdays, 8 a.m. to 10 p.m. or Saturday, 9 a.m. to 6 p.m. (ET). Get the TIAA app.* What sets TIAA apart TIAA is the financial services company that as of December 31, 2017, serves five million of your colleagues in the academic, medical, cultural and research fields. We were founded nearly a century ago as the vision of one of history s greatest philanthropists, Andrew Carnegie, to make a difference in the lives of teachers. Today, we are a global asset manager with award-winning performance. For six years ( ), TIAA has received the Thomson Reuters Lipper Fund Award for Best Overall Large Fund Company. 1 TIAA investment options The plan offers choices like TIAA Traditional, a guaranteed annuity that is designed to be a core component of a diversified retirement savings portfolio. Contributing to TIAA Traditional gives you the peace of mind and certainty that you will have an income in retirement that can help cover your essential living expenses without worrying about outliving it. Even in the most volatile markets, the principal you contribute is protected. In fact, your principal and earnings will grow every day guaranteed. Guarantees are backed by the financial strength and claims-paying ability of Teachers Insurance and Annuity Association of America, which issues the product. 2 The plan offers the TIAA Real Estate Account a variable annuity account that invests primarily in income-producing commercial real estate. Investment performance for commercial real estate generally has a low correlation with either stock or bond market performance. However, there are risks associated with real-estate ownership and you should read the Account s prospectus carefully before you invest. 3 Personalized retirement plan advice TIAA can provide you with personalized retirement planning and advice on your retirement plan portfolio, at no additional cost.

16 University System of Georgia 403(b) Plan & 457(b) Plan Investment choices that match your goals We provide a wide range of financial services to help meet your needs. From retirement savings accounts and brokerage services, to life insurance, to education savings and mutual funds, we can help you understand the choices that suit your personal situation. These products and services are offered by various entities within the TIAA group of companies. Low costs TIAA is committed to keeping costs low, which is why our expenses are generally among the lowest in the variable annuity and mutual funds industry according to Morningstar Direct (March 31, 2018) based on Morningstar expense comparisons by category. 4 Our low costs can help put more of your money working toward your retirement and other goals. Lower costs do not necessarily result in higher returns. Prepare to enroll online TIAA makes it easy for you to enroll online in the University System of Georgia 403(b) Plan & 457(b) Plan. Online enrollment is the fastest and easiest way to enroll. Before you enroll, have the following information available: WW WW WW Your investment choices and allocations: Go to TIAA.org/usg to review your investment choices. Your Social Security Number Your beneficiary s Social Security Number, birth date and address To enroll online Go to TIAA.org/usg and click on Enroll Now. Use the drop-down menus to select your school and the plan in which you wish to enroll. You will come to the Welcome page. Once on this page: WW WW WW If you are a first-time user: Click Register with TIAA to set up your user ID and password. If you are a returning user: Enter your established TIAA user ID and click Log In. Follow the on-screen directions to complete your enrollment application. Note: At the allocation screen, click on any investment choice to view its fact sheet. Print a confirmation page from the Thank You screen. Important In addition to enrolling with TIAA as your provider for this plan, you must complete a Salary Reduction Agreement. Obtain a copy of the form by contacting your Campus HR/Benefits Office and then return the completed and signed form back to that office as well.

17 UNIVERSITY SYSTEM OF GEORGIA 403(B) PLAN Plan Highlights Summary Investments About Investments As one of America's largest privately held investment companies, chances are you already know Investments by reputation. Founded in 1946, has always been committed to providing exceptional money management, outstanding customer service, and state-ofthe-art technology. is committed to providing a range of investment options, proven long-term performance, educational resources, and superior customer service to all employees to help you plan for retirement. With, you can count on: More than 70 years of investment experience More than 20 years of experience helping people plan for retirement Powerful online tools, experienced professional support, and easy access that can help make you a wiser investor Categories to the left have potentially more inflation risk and less investment risk Plan highlights Your retirement plan with Investments offers the advantage of pretax contributions and tax-deferred growth. Many of the plan s benefits are designed to help you improve your ability to reach your financial goals. Keep in mind that investing involves risk. The value of your investment will fluctuate over time and you may gain or lose money. Investment options When it comes to mutual funds, has a long-standing commitment to research and performance. By investing your contributions at, you have access to hundreds of investment options, all categorized in an easy-to-understand format. Shown below is a look at the categories of investment options offered by your plan. A complete description of the plan s investment options and their performance, as well as planning tools to help you choose an appropriate mix, are available online at NetBenefits at Categories to the right have potentially more investment risk and less inflation risk Money Market (or Short Term) Bond Balanced/ Hybrid Domestic Equity International/ Global Equity Specialty Large Value Mid Value Small Value Large Blend Mid Blend Small Blend Large Growth Mid Growth Small Growth This spectrum, with the exception of the Domestic Equity category, is based on s analysis of the characteristics of the general investment categories and not on the actual investment options and their holdings, which can change frequently. Investment options in the Domestic Equity category are based on the options Morningstar categories as of 4/30/18. Morningstar categories are based on a fund s style as measured by its underlying portfolio holdings over the past three years and may change at any time. These style calculations do not represent the investment options objectives and do not predict the investment options future styles. Investment options are listed in alphabetical order within each investment category. Risk associated with the investment options can vary significantly within each particular investment category and the relative risk of categories may change under certain economic conditions. For a more complete discussion of risk associated with the mutual fund options, please read the prospectuses before making your investment decisions. The spectrum does not represent actual or implied performance. Target Date Funds offer a blend of stocks, bonds, and short-term investments within a single fund. They are designed for investors who don t want to go through the process of picking several funds from the three asset classes but who still want to diversify among stocks, bonds, and short-term investments. The plan's designated default funds are the Freedom Funds -. Investment options to the left have potentially more inflation risk and less investment risk Investment options to the right have potentially more investment risk and less inflation risk Income Target date investments are represented on a separate spectrum because they are generally designed for investors expecting to retire around the year indicated in each investment s name. The investments are managed to gradually become more conservative over time. The investment risk of each target date investment changes over time as its asset allocation changes. The investments are subject to the volatility of the financial markets, including that of equity and fixed income investments in the U.S. and abroad, and may be subject to risks associated with investing in high-yield, small-cap, and foreign securities. Principal invested is not guaranteed at any time, including at or after the investments target dates.

18 Customer service At, we do more than just provide investment opportunities. We also offer the types of tools and resources that can help you become a better investor. Our commitment to investor education means you have easy access to the people and information you need to help you make informed investment decisions. Online Simply log on to NetBenefits, at virtually anywhere, any time, for immediate access to your account. You can view your account balances, request exchanges between investment options, track your contributions, access fund information, and more. By phone Call us toll free at , virtually 24 hours a day, seven days a week, for account balance transactions and more. And with our phone system s natural language capabilities, you can quickly and easily monitor and manage your account by using simple phrases and voice commands. Knowledgeable representatives Call a Retirement Services Representative at , Monday through Friday, 8 a.m. to midnight Eastern time, for account information and assistance. s representatives are knowledgeable, dedicated, professional, and committed to helping you take full advantage of your retirement plans. One-on-one help from Tap into s support and experience and feel more confident about your financial future. A Retirement Planner is ready to help you: Manage your retirement savings goals Choose from a wide range of investments Build a plan that s easy to put into action Schedule a complimentary one-on-one appointment by calling or by registering online at fidelity.com/reserve. Education how and when you need it To help you make knowledgeable and confident decisions about your money, offers flexible learning opportunities, including: Online workshops, tools, and resources On-site learning opportunities Regular and print messages Experienced representatives Withdrawal restrictions Withdrawals from the plan are generally permitted when you terminate your employment or retire, as defined by your plan. Keep in mind that withdrawals are subject to income taxes and possibly to early withdrawal penalties. To enroll in the plan Contact a Retirement Services Representative to begin enrollment today. To schedule an appointment, call Investments toll free at , Monday through Friday, 8 a.m. to midnight Eastern time. Before investing in any mutual fund, consider the investment objectives, risks, charges, and expenses. Contact for a prospectus or, if available, a summary prospectus containing this information. Read it carefully. Investing involves risk, including risk of loss. The trademarks and/or service marks appearing above are the property of FMR LLC and may be registered. Brokerage Services LLC, Member NYSE, SIPC, 900 Salem Street, Smithfield, RI FMR LLC. All rights reserved EPC

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21 * Not all features are available on all devices. 1 The Lipper Large Fund Award is given to the group with the lowest average decile ranking of three years Consistent Return for eligible funds over the three-year period ended 11/30/12 (36 fund companies), 11/30/13 (48), 11/30/14 (48), 11/30/15 (37), 11/30/16 (34) and 11/30/17 (34) with at least five equity, five bond, or three mixed-asset portfolios. Note this award pertains to mutual funds within the TIAA-CREF group of mutual funds; other funds distributed by Nuveen Securities were not included. From Thomson Reuters Lipper Awards, 2018 Thomson Reuters. All rights reserved. Used by permission and protected by the Copyright Laws of the United States. The printing, copying, redistribution, or retransmission of this Content without express written permission is prohibited. Past performance does not guarantee future results. Certain funds have fee waivers in effect. Without such waivers ratings could be lower. For current performance, rankings and prospectuses, please visit the Research and Performance section on TIAA.org. Securities offered through Nuveen, LLC, and TIAA-CREF Individual & Institutional Services, LLC, members FINRA and SIPC. 2 TIAA Traditional is a guaranteed insurance contract and not an investment for federal securities law purposes. All guarantees are based on TIAA s claims-paying ability. Interest credited to TIAA Traditional Annuity accumulations includes a guaranteed rate, plus additional amounts as may be established on a year-by-year basis by the TIAA Board of Trustees. The additional amounts, when declared, remain in effect through the declaration year, which begins each March 1 for accumulating annuities and January 1 for payout annuities. Interest in excess of the guaranteed amount is not guaranteed for periods other than the period for which it is declared. Withdrawals and transfers out will reduce account balances. Past performance is no guarantee of future results. 3 The real estate industry is subject to various risks including fluctuations in underlying property values, expenses and income, and potential environmental liabilities. 4 Morningstar ratings are based on each mutual fund (institutional share class) or variable annuity account s (lowest cost) share class and include U.S. open-end mutual funds, CREF Variable Accounts and the Life Funds. The Morningstar Rating or star rating is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. The rating is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. Morningstar ratings may be higher or lower on a monthly basis. The top 10% of funds or accounts in each product category receive five stars, the next 22.5% receive four stars and the next 35% receive three stars. The overall star ratings are Morningstar s published ratings, which are derived from weighted averages of the performance figures associated with the three-, five-, and 10-year (if applicable) Morningstar rating metrics for the period ended March 31, Morningstar is an independent service that rates mutual funds. Past performance cannot guarantee future results. For current performance and ratings, please visit TIAA.org/public/investmentperformance. Investment, insurance and annuity products are not FDIC insured, are not bank guaranteed, are not bank deposits, are not insured by any federal government agency, are not a condition to any banking service or activity, and may lose value. Investment products may be subject to market and other risk factors. See the applicable product literature, or visit TIAA.org/usg for details. You should consider the investment objectives, risks, charges and expenses carefully before investing. Please call or go to TIAA.org/usg for current fund and product prospectuses that contain this and other information. Please read the prospectuses carefully before investing. TIAA-CREF Individual & Institutional Services, LLC, Teachers Personal Investors Services, Inc., and Nuveen Securities, LLC, Members FINRA and SIPC, distribute securities products. Annuity contracts and certificates are issued by Teachers Insurance and Annuity Association of America (TIAA) and College Retirement Equities Fund (CREF), New York, NY. Each is solely responsible for its own financial condition and contractual obligations Teachers Insurance and Annuity Association of America-College Retirement Equities Fund, 730 Third Avenue, New York, NY _ (05/18)

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23 VALIC has more than half a century of experience helping Americans plan for and enjoy a secure retirement. We provide real solutions for real lives by consistently offering products and services that are innovative, simple to understand and easy to use. We take a personal approach to retirement plans and programs, offering customized solutions for individual needs. We are committed to the same unchanging standard of one-on-one service we have delivered since our founding. Our goal is to help you live retirement on your terms. Investors should carefully consider the investment objectives, risks, fees, charges and expenses before investing. This and other important information is contained in the prospectus, which can be obtained from your financial professional or at You can also request a copy by calling Read the prospectuses carefully before investing. This information is general in nature, may be subject to change, and does not constitute legal, tax or accounting advice from any company, its employees, financial professionals or other representatives. Applicable laws and regulations are complex and subject to change. Any tax statements in this material are not intended to suggest the avoidance of U.S. federal, state or local tax penalties. For advice concerning your individual circumstances, consult a professional attorney, tax advisor or accountant. Your Future is Calling. Meet It with Confidence. CLICK VALIC.com/usg CALL VISIT your financial advisor Securities and investment advisory services offered through VALIC Financial Advisors, Inc. ( VFA ), member FINRA, SIPC and an SEC-registered investment advisor. VFA registered representatives offer securities and other products under retirement plans and IRAs, and to clients outside of such arrangements. Annuities issued by The Variable Annuity Life Insurance Company ( VALIC ). Variable annuities distributed by its affiliate, AIG Capital Services, Inc. ( ACS ), member FINRA. VALIC, VFA and ACS are members of American International Group, Inc. ( AIG ). VALIC represents The Variable Annuity Life Insurance Company and its subsidiaries, VALIC Financial Advisors, Inc. and VALIC Retirement Services Company. American International Group, Inc. (AIG) is a leading global insurance organization. Founded in 1919, today AIG member companies provide a wide range of property casualty insurance, life insurance, retirement products and other financial services to customers in more than 80 countries and jurisdictions. Copyright The Variable Annuity Life Insurance Company. All rights reserved. VC (02/2018) J22801 EE