Voluntary Plan Investment Performance

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PERFORMANCE UPDATE  
 
KS BOARD OF REGENTS VOL 403B  
 
Average Annual Total Returns as of 07/31/2017    (shown in percentages)  

 Mutual funds offered through a retirement plan are investments designed for retirement purposes.  Early withdrawals will reduce your account value and if taken prior to age 59 1/2, a 10% IRS penalty may apply. 

 The performance data quoted represents past performance.  Past performance does not guarantee future results.  For month-end performance which may be lower or higher than the performance data shown please call 800-584-6001.  Investment return and principal value of an investment will fluctuate so that, when sold, an investment may be worth more or less than the original cost.  

 The returns assume reinvestment of all dividends (ordinary income and capital gains) and are net of management fees and other fund operating expenses.  They do not reflect any plan level administrative fees, if applicable; if reflected, returns would be less favorable. 

 There is an annual asset base fee of 0.50% for all of the investment options listed below excluding the Voya Fixed Plus III.  This fee will be deducted quarterly and will be reflected on the participant's quarterly Voya statements. 

 You should consider the investment objectives, risks and charges, and expenses of the funds carefully before investing.  The prospectus contains this and other information.  Anyone who wishes to obtain a free copy of the fund prospectuses may call their Voya representative or the number above.  Please read the prospectus carefully before investing. 

 Returns less than one year are not annualized.  Fund Inception Date is the date of inception for the underlying fund, and is the date used in calculating the periodic returns.  This date may also precede the portfolio's inclusion in the product. 


 Investment Options 1-Mo 3-Mo YTD 1-Yr 3-Yr 5-Yr10-Yr InceptFund Inception Date Gross Fund Exp %* Net Fund Exp %* 
Stability of Principal   
   Stability of Principal 
Voya Fixed Plus Account III - 697 (1)(58)0.250.751.733.003.003.003.11   
Bonds   
   Corporate Bond 
Delaware Extended Duration Bond Fund - Class R - 7355 (2)1.014.117.600.724.154.468.8810/03/20051.25 1.21  
   High Yield Bond 
Columbia High Yield Bond Fund - Class R Shares - 1430 1.042.455.388.644.785.777.0412/09/19831.31 1.31  
PIMCO High Yield Fund - Class R - 8065 (3)1.012.135.599.174.855.616.6212/31/20011.16 1.15  
   Inflation-Protected Bond 
American Century Short Duration Infl Protect Bond Fd R - 7137 0.19-0.510.260.36-0.33-0.432.8305/31/20051.07 1.07  
   Intermediate-Term Bond 
Voya Intermediate Bond Portfolio - Class A - 8479 (4)0.631.573.741.333.123.174.1912/20/20061.04 1.04  
Voya U.S. Bond Index Portfolio - Class A - 1553 (5)0.320.912.19-1.421.881.133.1703/04/20080.91 0.90  
   Multisector Bond 
Pioneer Strategic Income Fund - Class R Shares - 501 (45)0.601.353.754.382.893.665.7904/15/19991.35 1.35  
   Short-Term Bond 
PIMCO Low Duration Fund - Class R - 8068 (6)0.280.370.941.290.690.692.8012/31/20011.10 1.05  
   World Bond 
Oppenheimer International Bond Fund - Class R - 1437 (7)2.043.748.765.282.581.983.9903/01/20011.29 1.28  
Asset Allocation   
   Lifecycle - Index 
Voya Index Solution 2025 Portfolio - Adviser Class - 1538 (8)(9)1.703.178.709.545.098.145.2903/04/20080.96 0.89  
Voya Index Solution 2035 Portfolio - Adviser Class - 1541 (9)(10)2.134.0510.6212.646.039.915.9303/04/20080.95 0.89  
Voya Index Solution 2045 Portfolio - Adviser Class - 1544 (9)(11)2.244.2911.7413.736.3110.666.0303/04/20080.93 0.89  
Voya Index Solution Income Portfolio - Adviser Class - 1547 (9)(12)1.192.095.464.523.594.924.4903/04/20080.96 0.89  
Balanced   
   Allocation--50% to 70% Equity 
American Funds American Balanced Fund® - Class R-2 - 340 (46)1.853.098.199.757.359.876.1407/26/19751.37 1.37  
Pax Balanced Fund - Individual Investor Class - 193 (13)1.272.977.628.195.628.304.3808/10/19710.93 0.93  
VY® T. Rowe Price Capital Appreciation Portfolio - Adviser - 320 0.612.689.549.929.4812.187.9701/24/19891.24 1.24  
   Allocation--70% to 85% Equity 
American Funds The Income Fund of America® - Class R-2 - 483 (47)1.342.906.647.765.398.434.9912/01/19731.36 1.36  
   World Allocation 
American Funds Capital Income Builder® - Class R-2 - 2229 1.323.709.106.604.036.703.5405/31/20021.40 1.40  
Large Cap Value   
   Large Blend 
American Funds Fundamental InvestorsSM - Class R-2 - 2030 2.654.4712.4017.8410.6414.216.7805/21/20021.39 1.39  
BlackRock Advantage Large Cap Core Fund - Class R Shares - 7269 1.912.7811.2420.299.2113.935.4312/31/19991.41 0.98  
ClearBridge Appreciation Fund - Class R - 7790 (14)1.773.149.9512.288.9712.187.2903/10/19701.30 1.30  
Invesco Charter Fund - Class R - 223 (15)(48)1.153.719.1710.484.4510.285.7911/26/19681.38 1.37  
Pioneer Fund - Class R Shares - 988 (49)2.103.9111.0714.308.5412.935.6202/13/19281.41 1.41  
Victory Diversified Stock Fund - Class R - 2169 2.463.8710.6011.235.1911.755.0503/26/19991.36 1.36  
Victory Special Value Fund - Class R - 2219 (16)2.463.839.9010.304.679.812.9612/21/19991.56 1.56  
Voya Russell™ Large Cap Index Portfolio - Class A - 1556 (17)2.114.0511.6616.2110.2313.878.5503/04/20080.88 0.87  
   Large Value 
AllianzGI NFJ Dividend Value Fund - Class R - 2177 (18)1.813.765.7114.484.4710.623.9705/08/20001.33 1.18  
American Century Equity Income Fund - R Class - 326 (50)1.522.756.9110.8210.4211.776.8508/01/19941.43 1.43  
American Funds Washington Mutual Investors FundSM - R-2 - 481 (51)2.343.888.9914.108.9112.536.1407/31/19521.39 1.39  
Columbia Diversified Equity Income Fund - Class R Shares - 1431 (19)1.363.167.5015.798.0812.845.0810/15/19901.29 1.29  
Eaton Vance Large-Cap Value Fund - Class R - 1374 (20)(21)0.652.054.669.895.6911.194.5809/23/19311.31 1.31  
Lord Abbett Fundamental Equity Fund - Class R3 - 7855 0.912.704.5512.987.2312.486.9707/15/19961.23 1.23  
MFS® Value Fund - Class R2 - 712 0.524.229.4213.349.6714.046.9001/02/19961.11 1.11  
Pioneer Equity Income Fund - Class R Shares - 980 (52)2.203.246.2514.3311.1113.736.6607/25/19901.40 1.40  
Large Cap Growth   
   Large Growth 
Alger Responsible Investing Fund - Class A - 1584 2.805.0318.2218.519.2012.916.1112/04/20001.31 1.31  
American Century Growth Fund - R Class - 328 (53)1.864.4817.4816.3510.6513.168.0906/30/19711.48 1.48  
American Funds The Growth Fund of America® - Class R-2 - 486 (54)3.265.0815.5619.3410.8315.306.9912/01/19731.42 1.42  
Massachusetts Investors Growth Stock Fund - Class R2 - 713 1.704.8117.1113.9910.1913.688.3701/01/19350.99 0.99  
Voya Large Cap Growth Portfolio - Adviser Class - 1775 2.183.8116.4216.1311.2414.2610.2812/29/20061.27 1.27  
VY® T. Rowe Price Growth Equity Portfolio - Adviser Class - 256 (22)3.387.0123.2025.0113.4316.518.9611/28/19971.24 1.23  
Small/Mid/Specialty   
   Mid-Cap Blend 
Invesco Mid Cap Core Equity Fund - Class R - 202 (23)(48)1.082.328.3911.395.0310.645.5706/09/19871.51 1.49  
Lord Abbett Value Opportunities Fund - Class R3 - 7859 0.052.203.179.867.3913.368.0812/30/20051.40 1.40  
Voya Russell™ Mid Cap Index Portfolio - Class A - 1559 (24)1.383.138.9111.988.3213.999.5403/04/20080.94 0.93  
   Mid-Cap Growth 
Janus Henderson Enterprise Fund - Class S Shares - 2741 (25)1.015.6114.9616.5112.9815.869.3009/01/19921.18 1.18  
Voya MidCap Opportunities Portfolio - Class S - 500 (26)0.562.4213.2611.9210.0313.039.5505/05/20001.03 0.91  
VY® Baron Growth Portfolio - Adviser Class - 442 (27)1.683.8119.5817.428.9713.477.8405/01/20021.48 1.48  
   Mid-Cap Value 
BlackRock Mid Cap Dividend Fund - Class R Shares - 2220 1.210.321.8911.345.2412.426.8602/01/19951.50 1.35  
Pioneer Mid Cap Value Fund - Class R Shares - 324 (55)1.471.394.0311.196.1612.325.1307/25/19901.47 1.47  
VY® American Century Small-Mid Cap Value Portfolio - Adviser - 447 (28)0.481.134.1615.3710.7115.019.2005/01/20021.66 1.37  
   Small Blend 
Royce Pennsylvania Mutual Fund - R Class - 9233 0.551.864.8917.625.9511.225.8205/10/19941.64 1.64  
Voya Russell™ Small Cap Index Portfolio - Class A - 1562 (29)0.651.805.1717.419.0913.499.6103/04/20080.96 0.95  
Voya Small Company Fund - Class A - 473 (30)0.26-0.523.3415.9110.8314.117.9901/04/19941.46 1.36  
   Small Growth 
Invesco Small Cap Growth Fund - Class R - 295 (48)0.892.9111.2916.689.5414.588.2510/18/19951.48 1.48  
Lord Abbett Developing Growth Fund - Class R3 - 1569 1.835.1314.6812.623.3110.797.8110/10/19731.24 1.24  
   Small Value 
AllianzGI NFJ Small-Cap Value Fund - Class R - 716 (31)-0.27-0.582.2416.454.3710.396.7010/01/19911.48 1.43  
Columbia Small/Mid Cap Value Fund - Class R Shares - 1432 1.511.104.3415.486.1812.345.2202/14/20021.50 1.50  
Royce Small-Cap Value Fund - R Class - 9237 -1.63-3.52-6.024.640.327.113.8306/14/20011.85 1.85  
VY® Columbia Small Cap Value II Portfolio - Adviser Class - 1216 (32)0.690.641.8916.398.7313.807.2412/29/20061.39 1.36  
   Specialty - Equity Prec Metals 
Oppenheimer Gold & Special Minerals Fund - Class R - 8002 (33)1.744.8414.15-20.20-2.15-9.14-3.0108/29/19971.43 1.42  
   Specialty - Global Real Estate 
Voya Global Real Estate Fund - Class A - 1016 (34)1.703.785.72-5.251.935.672.5511/05/20011.30 1.30  
   Specialty - Real Estate 
VY® Clarion Real Estate Portfolio - Adviser Class - 1111 (35)(36)0.882.752.90-7.256.477.515.9201/24/19891.45 1.31  
   Specialty - Utilities 
Franklin Utilities Fund - Class R - 360 2.193.0110.115.5610.1110.197.8809/30/19481.08 1.08  
MFS® Utilities Fund - Class R2 - 7922 3.846.4014.029.062.778.916.1402/14/19921.24 1.24  
Global / International   
   Diversified Emerging Mkts 
Oppenheimer Developing Markets Fund - Class R - 9209 5.419.5724.8924.500.955.454.1411/18/19961.57 1.57  
   Europe Stock 
Invesco European Growth Fund - Class R - 7042 (37)(38)2.033.6917.4015.513.508.822.7706/03/20021.63 1.61  
   Foreign Large Blend 
MFS® International Value Fund - Class R2 - 9205 1.115.9317.2812.228.3212.375.7010/24/19951.26 1.26  
Thornburg International Value Fund - Class R3 - 1579 (39)3.038.6719.7020.546.607.742.2907/01/20031.62 1.45  
Voya International Index Portfolio - Class A - 1550 (40)2.696.3717.3417.342.258.382.0003/04/20081.05 0.94  
   Foreign Large Growth 
American Funds EuroPacific Growth Fund® - Class R-2 - 494 (56)4.188.5722.0319.404.768.932.8404/16/19841.60 1.60  
VY® T. Rowe Price International Stock Portfolio - Adviser - 1047 (41)3.066.9721.2719.505.098.822.1205/02/20051.38 1.38  
   Foreign Small/Mid Blend 
Voya Multi-Manager International Small Cap Fund - Class A - 366 (42)3.907.5423.3620.776.4912.772.0208/31/19941.83 1.65  
   Pacific/Asia ex-Japan Stk 
Invesco Asia Pacific Growth Fund - Class A - 7044 (43)1.876.6319.4115.055.147.796.0811/03/19971.49 1.47  
   World Large Stock 
American Funds Capital World Growth and Income FundSM - R-2 - 2031 2.956.1115.8916.345.7510.594.1906/07/20021.54 1.54  
American Funds New Perspective Fund® - Class R-2 - 338 (57)3.196.9220.1918.368.7912.266.0303/13/19731.55 1.55  
Franklin Mutual Global Discovery Fund - Class R - 356 1.402.687.9217.795.4210.165.0812/31/19921.49 1.49  
Voya Global Equity Fund - Class A - 364 (44)1.936.1715.9818.793.958.975.4004/19/19931.57 1.37  
Voya Global Equity Portfolio - Class S2 - 3057 1.905.0014.7317.982.9603/06/20151.01 1.01  
 The risks of investing in small company stocks may include relatively low trading volumes, a greater degree of change in earnings and greater short-term volatility. 
 Foreign investing involves special risks such as currency fluctuation and public disclosure, as well as economic and political risks. 
 Some of the Funds invest in securities guaranteed by the U.S. Government as to the timely payment of principal and interest; however, shares of the Funds are not insured nor guaranteed. 
 High yielding fixed-income securities generally are subject to greater market fluctuations and risks of loss of income and principal than are investments in lower yielding fixed-income securities. 
 Sector funds may involve greater-than average risk and are often more volatile than funds holding a diversified portfolio of stocks in many industries. Examples include: banking, biotechnology, chemicals, energy, environmental services, natural resources, precious metals, technology, telecommunications, and utilities. 
 *The Gross Expense Ratios shown do not reflect any temporary fee or expense waivers that may be in effect for a fund. The performance of a fund with a temporary fee or expense waiver would have been lower if the gross fund fees / expenses listed had been reflected. 



PERFORMANCE UPDATE  
 
KS BOARD OF REGENTS VOL 403B  
 
Average Annual Total Returns as of 06/30/2017    (shown in percentages)  

 Mutual funds offered through a retirement plan are investments designed for retirement purposes.  Early withdrawals will reduce your account value and if taken prior to age 59 1/2, a 10% IRS penalty may apply. 

 The performance data quoted represents past performance.  Past performance does not guarantee future results.  For month-end performance which may be lower or higher than the performance data shown please call 800-584-6001.  Investment return and principal value of an investment will fluctuate so that, when sold, an investment may be worth more or less than the original cost.  

 The returns assume reinvestment of all dividends (ordinary income and capital gains) and are net of management fees and other fund operating expenses.  They do not reflect any plan level administrative fees, if applicable; if reflected, returns would be less favorable. 

 There is an annual asset base fee of 0.50% for all of the investment options listed below excluding the Voya Fixed Plus III.  This fee will be deducted quarterly and will be reflected on the participant's quarterly Voya statements. 

 Returns less than one year are not annualized.  Fund Inception Date is the date of inception for the underlying fund, and is the date used in calculating the periodic returns.  This date may also precede the portfolio's inclusion in the product. 


 Investment Options 1-Mo 3-Mo YTD 1-Yr 3-Yr 5-Yr10-Yr InceptFund Inception Date Gross Fund Exp %* Net Fund Exp %* 
Stability of Principal   
   Stability of Principal 
Voya Fixed Plus Account III - 697 (1)(58)0.240.741.483.003.003.003.11   
Bonds   
   Corporate Bond 
Delaware Extended Duration Bond Fund - Class R - 7355 (2)1.204.636.523.003.715.258.7810/03/20051.25 1.21  
   High Yield Bond 
Columbia High Yield Bond Fund - Class R Shares - 1430 0.372.464.309.813.886.036.5112/09/19831.31 1.31  
PIMCO High Yield Fund - Class R - 8065 (3)0.172.274.5310.684.005.746.1412/31/20011.16 1.15  
   Inflation-Protected Bond 
American Century Short Duration Infl Protect Bond Fd R - 7137 -0.51-0.700.060.06-0.52-0.343.0305/31/20051.07 1.07  
   Intermediate-Term Bond 
Voya Intermediate Bond Portfolio - Class A - 8479 (4)0.151.893.091.792.773.474.2512/20/20061.04 1.04  
Voya U.S. Bond Index Portfolio - Class A - 1553 (5)-0.131.211.86-1.241.681.353.1603/04/20080.91 0.90  
   Multisector Bond 
Pioneer Strategic Income Fund - Class R Shares - 501 (45)0.141.543.135.382.603.915.7304/15/19991.35 1.35  
   Short-Term Bond 
PIMCO Low Duration Fund - Class R - 8068 (6)0.000.310.661.070.430.852.8812/31/20011.10 1.05  
   World Bond 
Oppenheimer International Bond Fund - Class R - 1437 (7)0.662.886.595.481.642.073.9603/01/20011.29 1.28  
Asset Allocation   
   Lifecycle - Index 
Voya Index Solution 2025 Portfolio - Adviser Class - 1538 (8)(9)0.282.626.8810.583.847.965.1503/04/20080.96 0.89  
Voya Index Solution 2035 Portfolio - Adviser Class - 1541 (9)(10)0.373.158.3213.944.579.605.7503/04/20080.95 0.89  
Voya Index Solution 2045 Portfolio - Adviser Class - 1544 (9)(11)0.543.439.3015.274.8210.335.8403/04/20080.93 0.89  
Voya Index Solution Income Portfolio - Adviser Class - 1547 (9)(12)0.001.814.224.962.824.924.4003/04/20080.96 0.89  
Balanced   
   Allocation--50% to 70% Equity 
American Funds American Balanced Fund® - Class R-2 - 340 (46)-0.132.096.239.526.129.785.7907/26/19751.37 1.37  
Pax Balanced Fund - Individual Investor Class - 193 (13)0.432.646.279.564.788.333.9708/10/19710.93 0.93  
VY® T. Rowe Price Capital Appreciation Portfolio - Adviser - 320 0.453.498.8811.698.7712.347.5401/24/19891.24 1.24  
   Allocation--70% to 85% Equity 
American Funds The Income Fund of America® - Class R-2 - 483 (47)-0.051.725.228.614.438.494.4912/01/19731.36 1.36  
   World Allocation 
American Funds Capital Income Builder® - Class R-2 - 2229 -0.123.087.687.052.986.903.1905/31/20021.40 1.40  
Large Cap Value   
   Large Blend 
American Funds Fundamental InvestorsSM - Class R-2 - 2030 -0.292.939.5018.118.9413.966.2005/21/20021.39 1.39  
BlackRock Advantage Large Cap Core Fund - Class R Shares - 7269 0.372.619.1522.648.1913.564.8412/31/19991.41 0.98  
ClearBridge Appreciation Fund - Class R - 7790 (14)0.442.648.0413.067.7612.196.8803/10/19701.30 1.30  
Invesco Charter Fund - Class R - 223 (15)(48)1.223.467.9213.763.3510.345.4511/26/19681.38 1.37  
Pioneer Fund - Class R Shares - 988 (49)0.862.648.7915.406.9212.595.0202/13/19281.41 1.41  
Victory Diversified Stock Fund - Class R - 2169 1.123.097.9511.534.0411.574.6203/26/19991.36 1.36  
Victory Special Value Fund - Class R - 2219 (16)1.112.487.2610.612.709.082.3612/21/19991.56 1.56  
Voya Russell™ Large Cap Index Portfolio - Class A - 1556 (17)0.543.029.3517.759.0613.728.3903/04/20080.88 0.87  
   Large Value 
AllianzGI NFJ Dividend Value Fund - Class R - 2177 (18)2.161.503.8315.243.3010.543.3405/08/20001.33 1.18  
American Century Equity Income Fund - R Class - 326 (50)0.441.435.3111.379.1011.936.3608/01/19941.43 1.43  
American Funds Washington Mutual Investors FundSM - R-2 - 481 (51)0.052.296.4914.197.2912.415.5807/31/19521.39 1.39  
Columbia Diversified Equity Income Fund - Class R Shares - 1431 (19)1.412.306.0616.937.0012.764.5210/15/19901.29 1.29  
Eaton Vance Large-Cap Value Fund - Class R - 1374 (20)(21)1.791.353.9912.124.7311.354.1109/23/19311.31 1.31  
Lord Abbett Fundamental Equity Fund - Class R3 - 7855 1.462.173.6114.936.2212.446.5507/15/19961.23 1.23  
MFS® Value Fund - Class R2 - 712 2.294.028.8616.108.7914.356.4401/02/19961.11 1.11  
Pioneer Equity Income Fund - Class R Shares - 980 (52)0.841.143.9614.278.6613.305.9007/25/19901.40 1.40  
Large Cap Growth   
   Large Growth 
Alger Responsible Investing Fund - Class A - 1584 -0.864.7615.0020.707.3512.325.6212/04/20001.31 1.31  
American Century Growth Fund - R Class - 328 (53)-0.845.0715.3420.579.1412.807.8306/30/19711.48 1.48  
American Funds The Growth Fund of America® - Class R-2 - 486 (54)-0.243.7111.9020.589.0114.736.4712/01/19731.42 1.42  
Massachusetts Investors Growth Stock Fund - Class R2 - 713 -0.125.5415.1617.268.9413.708.0101/01/19350.99 0.99  
Voya Large Cap Growth Portfolio - Adviser Class - 1775 -1.494.2913.9319.1110.1114.129.9412/29/20061.27 1.27  
VY® T. Rowe Price Growth Equity Portfolio - Adviser Class - 256 (22)0.107.3719.1828.3111.9315.818.3311/28/19971.24 1.23  
Small/Mid/Specialty   
   Mid-Cap Blend 
Invesco Mid Cap Core Equity Fund - Class R - 202 (23)(48)-0.132.637.2316.143.4610.245.1906/09/19871.51 1.49  
Lord Abbett Value Opportunities Fund - Class R3 - 7859 1.771.933.1213.545.6013.217.6912/30/20051.40 1.40  
Voya Russell™ Mid Cap Index Portfolio - Class A - 1559 (24)0.912.397.4315.396.7113.709.4703/04/20080.94 0.93  
   Mid-Cap Growth 
Janus Henderson Enterprise Fund - Class S Shares - 2741 (25)1.426.3213.8220.5611.7215.669.1309/01/19921.18 1.18  
Voya MidCap Opportunities Portfolio - Class S - 500 (26)-0.533.6112.6316.558.7212.669.3005/05/20001.03 0.91  
VY® Baron Growth Portfolio - Adviser Class - 442 (27)0.246.3017.6118.916.5813.217.2705/01/20021.48 1.48  
   Mid-Cap Value 
BlackRock Mid Cap Dividend Fund - Class R Shares - 2220 1.29-1.530.6714.993.3611.825.9602/01/19951.50 1.35  
Pioneer Mid Cap Value Fund - Class R Shares - 324 (55)2.13-1.052.5213.794.4312.074.5207/25/19901.47 1.47  
VY® American Century Small-Mid Cap Value Portfolio - Adviser - 447 (28)1.880.243.6618.769.3214.948.3805/01/20021.66 1.37  
   Small Blend 
Royce Pennsylvania Mutual Fund - R Class - 9233 2.833.034.3122.253.8010.915.2005/10/19941.64 1.64  
Voya Russell™ Small Cap Index Portfolio - Class A - 1562 (29)3.342.174.4923.526.6313.039.6203/04/20080.96 0.95  
Voya Small Company Fund - Class A - 473 (30)1.750.003.0620.948.6113.767.4401/04/19941.46 1.36  
   Small Growth 
Invesco Small Cap Growth Fund - Class R - 295 (48)1.663.8210.3120.757.2014.287.8510/18/19951.48 1.48  
Lord Abbett Developing Growth Fund - Class R3 - 1569 2.654.0112.6219.300.2010.187.6110/10/19731.24 1.24  
   Small Value 
AllianzGI NFJ Small-Cap Value Fund - Class R - 716 (31)2.640.792.5221.093.1510.656.3110/01/19911.48 1.43  
Columbia Small/Mid Cap Value Fund - Class R Shares - 1432 1.74-0.402.7918.933.8412.004.5502/14/20021.50 1.50  
Royce Small-Cap Value Fund - R Class - 9237 2.91-2.85-4.4711.89-0.617.473.4206/14/20011.85 1.85  
VY® Columbia Small Cap Value II Portfolio - Adviser Class - 1216 (32)2.690.541.1921.476.2713.526.3512/29/20061.39 1.36  
   Specialty - Equity Prec Metals 
Oppenheimer Gold & Special Minerals Fund - Class R - 8002 (33)3.19-1.4612.20-12.34-3.76-9.61-2.9108/29/19971.43 1.42  
   Specialty - Global Real Estate 
Voya Global Real Estate Fund - Class A - 1016 (34)0.782.923.96-2.161.305.901.8611/05/20011.30 1.30  
   Specialty - Real Estate 
VY® Clarion Real Estate Portfolio - Adviser Class - 1111 (35)(36)2.321.512.00-4.306.197.724.9401/24/19891.45 1.31  
   Specialty - Utilities 
Franklin Utilities Fund - Class R - 360 -2.481.467.752.527.2410.377.2509/30/19481.08 1.08  
MFS® Utilities Fund - Class R2 - 7922 -0.952.269.805.93-0.098.555.3602/14/19921.24 1.24  
Global / International   
   Diversified Emerging Mkts 
Oppenheimer Developing Markets Fund - Class R - 9209 1.126.7918.4721.96-0.924.413.9811/18/19961.57 1.57  
   Europe Stock 
Invesco European Growth Fund - Class R - 7042 (37)(38)-1.127.5215.0717.541.238.712.3906/03/20021.63 1.61  
   Foreign Large Blend 
MFS® International Value Fund - Class R2 - 9205 -0.868.2316.0014.997.0012.325.3610/24/19951.26 1.26  
Thornburg International Value Fund - Class R3 - 1579 (39)1.638.7716.1721.684.977.602.1007/01/20031.62 1.45  
Voya International Index Portfolio - Class A - 1550 (40)0.106.2614.2719.100.487.831.7303/04/20081.05 0.94  
   Foreign Large Growth 
American Funds EuroPacific Growth Fund® - Class R-2 - 494 (56)0.887.3917.1220.852.608.432.3604/16/19841.60 1.60  
VY® T. Rowe Price International Stock Portfolio - Adviser - 1047 (41)0.007.0417.6720.783.338.251.8205/02/20051.38 1.38  
   Foreign Small/Mid Blend 
Voya Multi-Manager International Small Cap Fund - Class A - 366 (42)0.327.6518.7422.843.9111.721.7908/31/19941.83 1.65  
   Pacific/Asia ex-Japan Stk 
Invesco Asia Pacific Growth Fund - Class A - 7044 (43)1.886.1417.2117.625.698.096.3111/03/19971.49 1.47  
   World Large Stock 
American Funds Capital World Growth and Income FundSM - R-2 - 2031 0.685.0012.5717.494.0910.363.7306/07/20021.54 1.54  
American Funds New Perspective Fund® - Class R-2 - 338 (57)0.206.5616.4720.246.9611.855.5403/13/19731.55 1.55  
Franklin Mutual Global Discovery Fund - Class R - 356 0.312.036.4319.464.3410.234.7212/31/19921.49 1.49  
Voya Global Equity Fund - Class A - 364 (44)0.575.6613.7819.852.348.555.0804/19/19931.57 1.37  
Voya Global Equity Portfolio - Class S2 - 3057 0.104.5212.5919.162.2403/06/20151.01 1.01  
 The risks of investing in small company stocks may include relatively low trading volumes, a greater degree of change in earnings and greater short-term volatility. 
 Foreign investing involves special risks such as currency fluctuation and public disclosure, as well as economic and political risks. 
 Some of the Funds invest in securities guaranteed by the U.S. Government as to the timely payment of principal and interest; however, shares of the Funds are not insured nor guaranteed. 
 High yielding fixed-income securities generally are subject to greater market fluctuations and risks of loss of income and principal than are investments in lower yielding fixed-income securities. 
 Sector funds may involve greater-than average risk and are often more volatile than funds holding a diversified portfolio of stocks in many industries. Examples include: banking, biotechnology, chemicals, energy, environmental services, natural resources, precious metals, technology, telecommunications, and utilities. 
 *The Gross Expense Ratios shown do not reflect any temporary fee or expense waivers that may be in effect for a fund. The performance of a fund with a temporary fee or expense waiver would have been lower if the gross fund fees / expenses listed had been reflected. 


ADDITIONAL NOTES 
(1) The current rate for the Voya Fixed Plus Account III MC 901, Fund 697 Option 1 is 3.00%, expressed as an annual effective yield. The current rate may change and be higher or lower than the previously identified rate but is guaranteed not to be less than 3.00%. Any rate change initiated solely by VRIAC will be guaranteed to remain in effect until the last day of the three-month period measured from the first day of the month in which such change was made. Note: The current rate for a plan's initial investment in the fixed account previously identified may be in effect for less than a full three-month period. 

(2) Delaware Extended Duration Bond Fund - Class R: The Fund's investment manager, Delaware Management Company (Manager), has contractually agreed to waive all or a portion of its investment advisory fees and/or pay/reimburse expenses (excluding any 12b-1 fees, acquired fund fees and expenses, taxes, interest, short sale and dividend interest expenses, brokerage fees, certain insurance costs, and nonroutine expenses or costs, including, but not limited to, those relating to reorganizations, litigation, conducting shareholder meetings, and liquidations) in order to prevent total annual fund operating expenses from exceeding 0.71% of the Fund's average daily net assets from April 30, 2016 through April 30, 2017. This waiver and reimbursement may only be terminated by agreement of the Manager and the Fund.
 

(3) PIMCO High Yield Fund - Class R: "Other Expenses" reflect interest expense. Interest expense results from the Fund's use of certain investments such as reverse repurchase agreements. Such expense is required to be treated as a Fund expense for accounting purposes and is not payable to Pacific Investment Management Company LLC ("PIMCO"). Any interest expense amount will vary based on the Fund's use of those investments as an investment strategy best suited to seek the objective of the Fund. Total Annual Fund Operating Expenses excluding interest expense is 1.15%.
 
(4) Voya Intermediate Bond Portfolio - Class A: The adviser is contractually obligated to limit expenses to 1.05% through May 1, 2017. The limitation does not extend to interest, taxes, investment-related costs, leverage expenses, extraordinary expenses, and Acquired Fund Fees and Expenses. This limitation is subject to possible recoupment by the adviser within 36 months of the waiver or reimbursement. The adviser is contractually obligated to waive 0.045% of the management fee through May 1, 2017. Termination or modification of these obligations requires approval by the Portfolio's board.
 
(5) Voya U.S. Bond Index Portfolio - Adviser Class: The adviser is contractually obligated to limit expenses to 0.90% through May 1, 2017. The limitation does not extend to interest, taxes, interest-related costs, leverage expenses, extraordinary expenses, and Acquired Fund Fees and Expenses. This limitation is subject to possible recoupment by the adviser within 36 months of the waiver or reimbursement. Termination or modification of this obligation requires approval by the Portfolio's board. 
(6) PIMCO Low Duration Fund - Class R: "Other Expenses" reflect interest expense. Interest expense results from the Fund's use of certain investments such as reverse repurchase agreements. Such expense is required to be treated as a Fund expense for accounting purposes and is not payable to Pacific Investment Management Company LLC ("PIMCO"). Any interest expense amount will vary based on the Fund's use of those investments as an investment strategy best suited to seek the objective of the Fund. Total Annual Fund Operating Expenses excluding interest expense is 1.05%. 

(7) Oppenheimer International Bond Fund - Class R: The Manager has contractually agreed to waive the management fee it receives from the Fund in an amount equal to the management fee it receives from the Subsidiary. This undertaking will continue to be in effect for as long as the Fund invests in the Subsidiary and may not be terminated unless approved by the Fund's Board.
 

(8) Voya Index Solution 2025 Portfolio - Adviser Class: The adviser is contractually obligated to limit expenses to 1.01% through May 1, 2018. The limitation does not extend to interest, taxes, investment-related costs, leverage expenses and extraordinary expenses. This limitation is subject to possible recoupment by the adviser within 36 months of the waiver or reimbursement. Termination or modification of this obligation requires approval by the Portfolio's board. 


(9) There is no guarantee that any investment option will achieve its stated objective. Principal value fluctuates and there is no guarantee of value at any time, including the target date. The "target date" is the approximate date when you plan to start withdrawing your money. When your target date is reached, you may have more or less than the original amount invested. For each target date Portfolio, until the day prior to its Target Date, the Portfolio will seek to provide total returns consistent with an asset allocation targeted for an investor who is retiring in approximately each Portfolio's designation Target Year. Prior to choosing a Target Date Portfolio, investors are strongly encouraged to review and understand the Portfolio's objectives and its composition of stocks and bonds, and how the asset allocation will change over time as the target date nears. No two investors are alike and one should not assume that just because they intend to retire in the year corresponding to the Target Date that specific Portfolio is appropriate and suitable to their risk tolerance. It is recommended that an investor consider carefully the possibility of capital loss in each of the target date Portfolios, the likelihood and magnitude of which will be dependent upon the Portfolio's asset allocation. On the Target Date, the portfolio will seek to provide a combination of total return and stability of principal.

Stocks are more volatile than bonds, and portfolios with a higher concentration of stocks are more likely to experience greater fluctuations in value than portfolios with a higher concentration in bonds. Foreign stocks and small and midcap stocks may be more volatile than large cap stocks. Investing in bonds also entails credit risk and interest rate risk. Generally investors with longer timeframes can consider assuming more risk in their investment portfolio.

The Voya Index Solution PortfoliosSM are actively managed and the asset allocation adjusted over time. The portfolios may merge with or change to other portfolios over time. Refer to the prospectus for more information about the specific risks of investing in the various asset classes included in the Voya Index Solution Portfolios.
 
(10) Voya Index Solution 2035 Portfolio - Adviser Class: The adviser is contractually obligated to limit expenses to 1.01% through May 1, 2018. The limitation does not extend to interest, taxes, investment-related costs, leverage expenses and extraordinary expenses. This limitation is subject to possible recoupment by the adviser within 36 months of the waiver or reimbursement. Termination or modification of this obligation requires approval by the Portfolio's board. 

(11) Voya Index Solution 2045 Portfolio - Adviser Class: The adviser is contractually obligated to limit expenses to 1.01% through May 1, 2018. The limitation does not extend to interest, taxes, investment-related costs, leverage expenses and extraordinary expenses. This limitation is subject to possible recoupment by the adviser within 36 months of the waiver or reimbursement. Termination or modification of this obligation requires approval by the Portfolio's board. 

(12) Voya Index Solution Income Portfolio - Adviser Class: The adviser is contractually obligated to limit expenses to 1.01% through May 1, 2018. The limitation does not extend to interest, taxes, investment-related costs, leverage expenses, and extraordinary expenses. This limitation is subject to possible recoupment by the adviser within 36 months of the waiver or reimbursement. Termination or modification of this obligation requires approval by the Portfolio's board. 

(13) Pax World Balanced Fund - Individual Investor Class: The Adviser has contractually agreed to waive 0.01% of its advisory fee. This arrangement will continue in effect until at least December 31, 2017 unless modified or terminated by the Fund's Trustees. 

(14) ClearBridge Appreciation Fund - Class R: The manager has agreed to waive fees and/or reimburse operating expenses (other than interest, brokerage, taxes, extraordinary expenses and acquired fund fees and expenses) so that total annual operating expenses will not exceed 1.40%, subject to recapture as described in the fund's prospectus. These arrangements cannot be terminated prior to December 31, 2016 without the Board of Trustees' consent. The manager is permitted to recapture amounts waived and/or reimbursed to a class during the same fiscal year if the class' total annual operating expenses have fallen to a level below the limits described in the fund's prospectus.
 
(15) Invesco Charter Fund - Class R: Invesco Advisers, Inc. (Invesco or the Adviser) has contractually agreed to waive a portion of the Fund's management fee in an amount equal to the net management fee that Invesco earns on the Fund's investments in certain affiliated funds. This waiver will have the effect of reducing the Acquired Fund Fees and Expenses that are indirectly borne by the Fund. Unless Invesco continues the fee waiver agreement, it will terminate on June 30, 2017. The fee waiver agreement cannot be terminated during its term.
 

(16) Victory Special Value Fund - Class R: The Adviser has voluntarily agreed to waive a portion of its management fee so that the fee does not exceed 0.65% on assets up to $800 million, 0.60% on the next $1.6 billion and 0.55% on assets in excess of $2.4 billion. This waiver may be discontinued at anytime without notice.
 

(17) Voya Russell (TM) Large Cap Index Portfolio - Adviser Class: The adviser is contractually obligated to limit expenses to 0.87% through May 1, 2017. The limitation does not extend to interest, taxes, investment-related costs, leverage expenses, extraordinary expenses, and Acquired Fund Fees and Expenses. This limitation is subject to possible recoupment by the adviser within 36 months of the waiver or reimbursement. Termination or modification of this obligation requires approval by the Portfolio's board. 

(18) AllianzGI NFJ Dividend Value Fund - Class R: Effective November 1, 2016, AllianzGI U.S. has contractually agreed to observe, through October 31, 2017, an irrevocable waiver of a portion of its advisory fees ("Management Fees" in the table above consist of administration fees and advisory fees paid to AllianzGI U.S.), which reduces the contractual fee rate by 0.15%. 

(19) Columbia Diversified Equity Income Fund - Class R: Columbia Management Investment Advisers, LLC and certain of its affiliates have contractually agreed to waive fees and/or to reimburse expenses (excluding certain fees and expenses, such as transaction costs and certain other investment related expenses, interest, taxes, acquired fund fees and expenses, and extraordinary expenses) until September 30, 2014, unless sooner terminated at the sole discretion of the Fund's Board of Trustees. Under this agreement, the Fund's net operating expenses, subject to applicable exclusions, will not exceed the annual rate of 1.33%.  

(20) Eaton Vance Large-Cap Value Fund - Class R: The investment advisory fee for Large-Cap Value Portfolio was reduced by its allocable portion of Cash Management Portfolio's advisory fee.  
(21) The Eaton Vance Large-Cap Value Fund - Class R commenced operations on February 18, 2004.  The Class R shares has identical investment objectives and policies, the same portfolio manager, and invests in the same holdings as Class A.  The performance information above prior to February 18, 2004 is based upon the Class A performance adjusted by the fee differences between classes. 
 Voya Large Cap Growth Portfolio - Adviser Class: The adviser is contractually obligated to limit expenses to 1.27% through May 1, 2018. The limitation does not extend to interest, taxes, investment-related costs, leverage expenses, extraordinary expenses, and Acquired Fund Fees and Expenses. Termination or modification of this obligation requires approval by the Portfolio's board.
 

(22) VY T. Rowe Price Growth Equity Portfolio - Adviser Class: The adviser is contractually obligated to limit expenses to 1.25% through May 1, 2017. The limitation does not extend to interest, taxes, investment-related costs, leverage expenses, extraordinary expenses, and Acquired Fund Fees and Expenses. This limitation is subject to possible recoupment by the adviser within 36 months of the waiver or reimbursement. The adviser is contractually obligated to waive a portion of the management fee through May 1, 2017. The management fee waiver for the Portfolio is an estimated 0.01%. Termination or modification of these obligations requires approval by the Portfolio's board. 

(23) Invesco Mid Cap Core Equity Fund - Class R: Invesco Advisers, Inc. (Invesco or the Adviser) has contractually agreed to waive a portion of the Fund's management fee in an amount equal to the net management fee that Invesco earns on the Fund's investments in certain affiliated funds, which will have the effect of reducing the Acquired Fund Fees and Expenses. Unless Invesco continues the fee waiver agreement, it will terminate on June 30, 2017. During its term, the fee waiver agreement cannot be terminated or amended to reduce the advisory fee waiver without approval of the Board of Trustees. 

(24) Voya Russell (TM) Mid Cap Index Portfolio - Adviser Class: The adviser is contractually obligated to limit expenses to 0.93% through May 1, 2017. The limitation does not extend to interest, taxes, investment-related costs, leverage expenses, extraordinary expenses, and Acquired Fund Fees and Expenses. This limitation is subject to possible recoupment by the adviser within 36 months of the waiver or reimbursement. Termination or modification of this obligation requires approval by the Portfolio's board. 
(25) Janus Enterprise Fund - Class S: Janus Adviser Series Mid Cap Growth Fund - Class S mergered, on July 2, 2009, into Janus Enterprise Fund - Class S.  The performance information above prior to July 02, 2009 is based upon Class J performance adjusted by the fee differences between classes. 
(26) Voya MidCap Opportunities Portfolio - Class S: The adviser is contractually obligated to limit expenses to 1.10% through May 1, 2017. In addition, the adviser is contractually obligated to further limit expenses to 1.10% through May 1, 2017. The limitations do not extend to interest, taxes, investment-related costs, leverage expenses, extraordinary expenses, and Acquired Fund Fees and Expenses. These limitations are subject to possible recoupment by the adviser within 36 months of the waiver or reimbursement. Termination or modification of these obligations requires approval by the Portfolio's board. 

(27) VY Baron Growth Portfolio - Adviser Class: The adviser is contractually obligated to limit expenses to 1.55% through May 1, 2017. The limitation does not extend to interest, taxes, investment-related costs, leverage expenses, extraordinary expenses, and Acquired Fund Fees and Expenses. This limitation is subject to possible recoupment by the adviser within 36 months of the waiver or reimbursement. Termination or modification of this obligation requires approval by the Portfolio's board. 

(28) VY American Century Small-Mid Cap Value Portfolio - Adviser Class: The adviser is contractually obligated to limit expenses to 1.52% through May 1, 2017. The limitation does not extend to interest, taxes, investment-related costs, leverage expenses, extraordinary expenses, and Acquired Fund Fees and Expenses. This limitation is subject to possible recoupment by the adviser within 36 months of the waiver or reimbursement. The adviser is contractually obligated to waive a portion of the management fee through May 1, 2017. The management fee waiver for the Portfolio is an estimated 0.16%. Termination or modification of these obligations requires approval by the Portfolio's board. 

(29) Voya Russell (TM) Small Cap Index Portfolio - Adviser Class: The adviser is contractually obligated to limit expenses to 0.95% through May 1, 2017. The limitation does not extend to interest, taxes, investment-related costs, leverage expenses, extraordinary expenses, and Acquired Fund Fees and Expenses. This limitation is subject to possible recoupment by the adviser within 36 months of the waiver or reimbursement. Termination or modification of this obligation requires approval by the Portfolio's board. 

(30) Voya Small Company Fund - Class A: The adviser is contractually obligated to limit expenses to 1.50% through October 1, 2017. In addition, the adviser is contractually obligated to further limit expenses to 1.35% through October 1, 2017. The limitations do not extend to interest, taxes, investment-related costs, leverage expenses, extraordinary expenses, and Acquired Fund Fees and Expenses. The adviser is contractually obligated to waive 0.02% of the management fee through October 1, 2017. Termination or modification of these obligations requires approval by the Fund's board. 

(31) AllianzGI NFJ Small-Cap Value Fund - Class R: Effective November 1, 2016, the Adviser has contractually agreed to observe, through October 31, 2016, an irrevocable waiver of a portion of the Investment Advisory Fee, which reduces the 0.60% contractual fee rate by 0.025% on net assets in excess of $3 billion, by an additional 0.025% on net assets in excess of $4 billion and by an additional 0.025% on net assets in excess of $5 billion, each based on the Fund's average daily net assets. An identical waiver arrangement was in place for the Fund from November 1, 2015 through October 31, 2016. 

(32) VY Columbia Small Cap Value II Portfolio - Adviser Class: The adviser is contractually obligated to limit expenses to 1.65% through May 1, 2017. The limitation does not extend to interest, taxes, investment-related costs, leverage expenses, extraordinary expenses, and Acquired Fund Fees and Expenses. This limitation is subject to possible recoupment by the adviser within 36 months of the waiver or reimbursement. The adviser is contractually obligated to waive a portion of the management fee through May 1, 2017. The management fee waiver for the Portfolio is an estimated 0.03%. Termination or modification of these obligations requires approval by the Portfolio's board. 
(33) Oppenheimer Gold & Special Minerals Fund - Class R: After discussions with the Fund's Board, the Manager has contractually agreed to waive the management fee it receives from the Fund in an amount equal to the management fee it receives from the Subsidiary. This undertaking will continue in effect for so long as the Fund invests in the Subsidiary and may not be terminated unless approved by the Fund's Board of Trustees. 

(34) Voya Global Real Estate Fund - Class A: The adviser is contractually obligated to limit expenses to 1.40% through March 1, 2017. The limitation does not extend to interest, taxes, investment-related costs, leverage expenses, extraordinary expenses, and Acquired Fund Fees and Expenses. This limitation is subject to possible recoupment by the adviser within 36 months of the waiver or reimbursement. Termination or modification of this obligation requires approval by the Fund's board.
 

(35) VY Clarion Real Estate Portfolio - Adviser Class: The adviser is contractually obligated to limit expenses to 1.35% through May 1, 2017. The limitation does not extend to interest, taxes, investment-related costs, leverage expenses, extraordinary expenses, and Acquired Fund Fees and Expenses. This limitation is subject to possible recoupment by the adviser within 36 months of the waiver or reimbursement. The adviser is contractually obligated to waive a portion of the management fee through May 1, 2017. The management fee waiver for the Portfolio is an estimated 0.04%. Termination or modification of these obligations requires approval by the Portfolio's board. 

(36) VY Clarion Real Estate Portfolio - Adviser Class commenced operations on April 29, 2005.  Adviser Class has identical investment objectives and policies, the same portfolio manager, and invests in the same holdings as Class S.  The performance information above prior to April 29, 2005 is based upon Class S performance adjusted by the fee differences between classes. 
(37) Invesco European Growth Fund - Class R: Invesco Advisers, Inc. (Invesco or the Adviser) has contractually agreed to waive a portion of the Fund's management fee in an amount equal to the net management fee that Invesco earns on the Fund's investments in certain affiliated funds. This waiver will have the effect of reducing the Acquired Fund Fees and Expenses that are indirectly borne by the Fund. Unless Invesco continues the fee waiver agreement, it will terminate on June 30, 2017. The fee waiver agreement cannot be terminated during its term. 

(38) AIM European Growth Fund - Class R: Invesco Aim contractually agreed, through at least June 30, 2009, to waive the advisory fee payable by the fund in an amount equal to 100% of the net advisory fees Invesco Aim receives from the affiliated money market funds on investments by the fund of uninvested cash (excluding investments of cash collateral from securities lending) in such affiliated money market funds. This contractual waiver resulted in an aggregate reduction in advisory fees of 0.01% for the year ended October 31, 2008. You may be charged a 2.00% fee on redemptions or exchanges of shares held 30 days or less. 
(39) Thornburg International Value Fund - Class R3: Thornburg Investment Management, Inc. ("Thornburg") and/or Thornburg Securities Corporation ("TSC") have contractually agreed to waive fees and reimburse expenses incurred by the Fund so that actual expenses do not exceed 1.45%. The agreement to waive fees and reimburse expenses may be terminated by the Fund at any time, but may not be terminated by Thornburg or TSC before February 1, 2017, unless Thornburg or TSC ceases to be the investment advisor or distributor of the Fund prior to that date. Thornburg and TSC retain the ability to be repaid by the Fund for fee waivers and expense reimbursements during a fiscal year if Fund expenses fall below the relevant percentage threshold before the end of that fiscal year.
 

(40) Voya International Index Portfolio - Adviser Class: The adviser is contractually obligated to limit expenses to 1.00% through May 1, 2017. In addition, the adviser is contractually obligated to further limit expenses to 0.98% through May 1, 2017. These limitations do not extend to interest, taxes, investment-related costs, leverage expenses, extraordinary expenses, and Acquired Fund Fees and Expenses. These limitations are subject to possible recoupment by the adviser within 36 months of the waiver or reimbursement. The distributor is contractually obligated to waive 0.01% of the distribution fee through May 1, 2017. Termination or modification of these obligations requires approval by the Portfolio's board. 

(41) VY  T. Rowe Price International Stock Portfolio - Adviser Class: The adviser is contractually obligated to limit expenses to 1.40% through May 1, 2017. The limitation does not extend to interest, taxes, investment-related costs, leverage expenses, extraordinary expenses, and Acquired Fund Fees and Expenses. This limitation is subject to possible recoupment by the adviser within 36 months of the waiver or reimbursement. Termination or modification of this obligation requires approval by the Portfolio's board.
 

(42) Voya Multi-Manager International Small Cap Fund - Class A: The adviser is contractually obligated to limit expenses to 1.95% through March 1, 2017. This limitation is subject to possible recoupment by the adviser within 36 months of the waiver or reimbursement. In addition, the adviser is contractually obligated to further limit expenses to 1.68% through March 1, 2017. These limitations do not extend to interest, taxes, investment-related costs, leverage expenses, extraordinary expenses, and Acquired Fund Fees and Expenses. The adviser is contractually obligated to waive a portion of the management fee through March 1, 2017. The management fee waiver for the Fund is an estimated 0.03%. Termination or modification of these obligations requires approval by the Fund's board.
 

(43) Invesco Asia Pacific Growth Fund - Class A: Invesco Advisers, Inc. (Invesco or the Adviser) has contractually agreed to waive a portion of the Fund's management fee in an amount equal to the net management fee that Invesco earns on the Fund's investments in certain affiliated funds. This waiver will have the effect of reducing the Acquired Fund Fees and Expenses that are indirectly borne by the Fund. Unless Invesco continues the fee waiver agreement, it will terminate on June 30, 2017. The fee waiver agreement cannot be terminated during its term. 

(44) Voya Global Value Advantage Fund - Class A: The adviser and distributor are contractually obligated to limit expenses to 1.35% through March 1, 2017. The limitation does not extend to interest, taxes, investment-related costs, leverage expenses, extraordinary expenses, and Acquired Fund Fees and Expenses. This limitation is subject to possible recoupment by the adviser and distributor within 36 months of the waiver or reimbursement. Termination or modification of this obligation requires approval by the Fund's board.
 

(45) The Pioneer Strategic Income Fund - Class R commenced operations on March 4, 2003.  The fund has identical investment objectives and policies, the same portfolio manager, and invests in the same holdings as Class A of this fund.  The performance information for the Pioneer Strategic Income Fund - Class R prior to March 4, 2003 is based upon the Class A performance, adjusted by fees associated with Class N. 
(46) The American Balanced Fund - Class R-2 commenced operations on May 21, 2002.  The fund has identical investment objectives and policies, the same portfolio manager, and invests in the same holdings as Class A of this fund.  The performance information for the American Balanced Fund - Class R-2 prior to May 21, 2002 is based upon the Class A performance, adjusted by fees associated with Class R-2. 
(47) The Income Fund of America - Class R-2 commenced operations on May 31, 2002.  The fund has identical investment objectives and policies, the same portfolio manager, and invests in the same holdings as Class A of this fund.  The performance information for the Income Fund of America - Class R-2 prior to May 31, 2002 is based upon the Class A performance, adjusted by fees associated with Class R-2. 
(48) The AIM Class R funds commenced operations on June 03, 2002.  The fund has identical investment objectives and policies, the same portfolio manager, and invests in the same holdings as Class A of this fund.  The performance information for AIM Class R funds prior to June 03, 2002 is based upon the Class A performance, adjusted by fees associated with Class R. 
(49) The Pioneer Fund - Class R commenced operations on March 4, 2003.  The fund has identical investment objectives and policies, the same portfolio manager, and invests in the same holdings as Class A of this fund.  The performance information for the Pioneer Fund - Class R prior to March 4, 2003 is based upon the Class A performance, adjusted by fees associated with Class R. 
(50) American Century Equity Income Fund - Class R commenced operations on September 2, 2003.  Class R has identical investment objectives and policies, the same portfolio manager, and invests in the same holdings as Class I.  The performance information above prior to September 2, 2003 is based upon the Class I performance adjusted by the fee differences between classes. 
(51) The Washington Mutual Investors FundSM - Class R-2 commenced operations on May 31, 2002.  The fund has identical investment objectives and policies, the same portfolio manager, and invests in the same holdings as Class A of this fund.  The performance information for the Washington Mutual Investors FundSM - Class R-2 prior to May 31, 2002 is based upon the Class A performance, adjusted by fees associated with Class R-2. 
(52) The Pioneer Equity Income Fund - Class R commenced operations on March 4, 2003.  The fund has identical investment objectives and policies, the same portfolio manager, and invests in the same holdings as Class A of this fund.  The performance information for the Pioneer Equity Income Fund - Class R prior to March 4, 2003 is based upon the Class A performance, adjusted by fees associated with Class R. 
(53) American Century Growth Fund - Class R commenced operations on September 2, 2003.  Class R has identical investment objectives and policies, the same portfolio manager, and invests in the same holdings as Class I.  The performance information above prior to September 2, 2003 is based upon the Class I performance adjusted by the fee differences between classes. 
(54) The Growth Fund of America - Class R-2 commenced operations on May 21, 2002.  The fund has identical investment objectives and policies, the same portfolio manager, and invests in the same holdings as Class A of this fund.  The performance information for the Growth Fund of America - Class R-2 prior to May 21, 2002 is based upon the Class A performance, adjusted by fees associated with Class R-2. 
(55) Pioneer Mid Cap Value Fund - Class R commenced operations on March 1, 2003. Returns prior to that date are hypothetical results based on Class A share returns at net asset value, adjusted to reflect additional Class R 12b-1 fees.  Class R has identical investment objectives and policies, the same portfolio manager, and invests in the same holdings as Class A. 
(56) The EuroPacific Growth Fund - Class R-2 commenced operations on May 31, 2002.  The fund has identical investment objectives and policies, the same portfolio manager, and invests in the same holdings as Class A of this fund.  The performance information for the EuroPacific Growth Fund - Class R-2 prior to May 31, 2002 is based upon the Class A performance, adjusted by fees associated with Class R-2. 
(57) The New Perspective Fund - Class R-2 commenced operations on May 21, 2002.  The fund has identical investment objectives and policies, the same portfolio manager, and invests in the same holdings as Class A of this fund.  The performance information for The New Perspective Fund - Class R-2 prior to May 21, 2002 is based upon the Class A performance, adjusted by fees associated with Class R-2. 
(58) The Investment Option is neither a mutual fund nor part of a Separate Account.  The returns listed do not include the impact of contract charges.  Please refer to the contract or disclosure book to determine which Fixed Interest Options are available for your specific plan.  The Investment Option is offered through Voya Retirement Insurance and Annuity Company. 

 Insurance products, annuities and funding agreements issued by Voya Retirement Insurance and Annuity Company, One Orange Way Windsor, CT 06095, (VRIAC), which is solely responsible for meeting its obligations. Plan administrative services provided by VRIAC or Voya Institutional Plan Services, LLC. All companies are members of the Voya family of companies. Securities are distributed by or offered through Voya Financial Partners, LLC (member SIPC) or other broker-dealers with which it has a selling agreement. 

 The chart shows the performance for each investment option for the time periods shown. 



Creation Date: Sunday, August 20, 2017