Participant Distributions

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1 City of Los Angeles Deferred Compensation Plan Participant Distributions considering your options living your dreams Severance of Employment

2 Table of Contents Introduction... 1 What Are My Choices?... 2 Defer Distribution... 2 Lump-Sum Payment Options... 2 Full Lump-Sum Distribution Partial Lump-Sum Distribution Periodic Payment Options... 3 Periodic Payment of a Specified Amount Periodic Payment of a Specified Amount with Cost of Living Adjustments (COLA) Periodic Payment for Period Certain Annuity Payment Options (Fixed and Variable)... 4 Single Life Annuity Life Annuity with Period Certain Refund Life Annuity Joint and Survivor Period Certain Designated Period Annuity Combination Options... 5 Partial Lump-Sum and Periodic Payment or Annuity Periodic Payment and Annuity Periodic Payment and Future Partial Lump-Sum Distributions Series of Partial Lump-Sum Payments Minimum Distribution Rules... 6 Lump-Sum Distributions Periodic Payments Annuity Payments Automated Minimum Distribution Request Death Claims... 6 Taxes... 7 Taxation of Distributions Withholding Rules Rollovers to Another Plan... 8 Rollovers to Employer-Sponsored Plan Rollovers to IRAs Self-Directed Brokerage Funds... 8 Glossary of Terms Occasionally, a Great-West Retirement Services SM representative may not be available at the Walk-In Center on normal business days. Prior to visiting, please verify the office hours by calling KeyTalk and pressing 3 for local office information. 2 Access to KeyTalk and the Web site may be limited or unavailable during periods of peak demand, market volatility, systems upgrades/maintenance, or other reasons. Important Location Information Local Service Center 1 City Hall 200 North Spring Street Room 867 (Benefits Office) Los Angeles, CA Hours: 8:30 a.m. to 12:00 p.m. & 12:30 p.m. to 4:00 p.m., Monday through Friday (except holidays) Web site 2 KeyTalk 2 (888) Great-West Main Office 8515 East Orchard Road 10T2 Englewood, CO 80111

3 Introduction I ve Decided to Retire... What Do I Do Now? Upon severance of employment from the City of Los Angeles, the money you have accumulated through your deferred compensation account becomes available to you. You have many choices as to how you can receive this money. Only you can make this very personal decision after careful consideration of several factors, including your age, financial needs and other sources of income. You have the flexibility to decide when and how much to request as a distribution from your account as needed. This means that you do not have to elect a specific distribution method or future commencement date when you sever employment. In addition, once you choose a periodic payment method, you will have the opportunity to change it should your needs change in the future. Please keep in mind that full lump-sum distributions and annuity payments are irrevocable once processed by Great-West Retirement Services SM. Please study each of your options in order to choose the one that best suits your financial needs. If you need further clarification about the various distribution methods, call KeyTalk and press option 3 to speak with a local service representative. You can also visit with a representative at the Local Service Center. We strongly urge you to consult with an accountant, financial planner and/or tax adviser before making your final decision. While our representatives are able to explain the options to you, they are not able to tell you which payout and tax withholding method is best for you. We suggest you start your planning about three months before your anticipated retirement or termination date. When planning your retirement, please remember that Great-West Retirement Services must receive your request at least 10 days before the commencement date of your distribution(s). You may return the forms by mail or to the Local Service Center. Please note that Great-West Retirement Services cannot release your funds until severance of employment is confirmed through the City s payroll systems. Generally, the City confirms your severance date within 4 to 6 weeks after your severance date. You can help speed up this process by submitting a Form 41 document, generated by your department s payroll section, verifying your termination date. You can choose which day of the month you wish to receive your distribution except for the 29 th, 30 th or 31 st. Payment Options You have a selection of payment options to choose from, and you will find more information on each of these in the following pages: H Defer Distribution H Full & Partial Lump-Sum Payments H Periodic Payments H Annuity Payment H Combination Timeline Day 1 Decide to Retire Get the distribution packet start thinking about your options. Day 30 Make a Decision Return all forms. Day 60 Retirement Day Receive First Distribution For illustrative purposes only. This is only an example of how your timeline may occur. It may vary depending on which option(s) you choose. Reminder Please remember to inform Great-West Retirement Services of any address and beneficiary changes as soon as possible. To change your address, call KeyTalk and press 0 during business hours to speak with a service representative to update your address and phone number. To change your beneficiary, call KeyTalk and press 0 to order a Beneficiary Designation Form. Please Note: If you have funds invested in the Self-Directed Brokerage option, OptionsPlus, please refer to the Self-Directed Brokerage Funds section for any special rules that may apply to your distribution request. 1

4 What Are My Choices? Defer Distribution: Postpone My Distribution Until Later You can defer receipt of your entire account balance. To do this, you do not need to inform Great-West Retirement Services or the City of your intention to defer. Your contributions to the Plan will stop automatically after the last normal paycheck you receive from the City. If you choose this option, the balance and any earnings on your account will continue to accumulate tax deferred, and you will continue to be able to transfer balances among the various investment options available in the Plan until you begin taking distributions. All Plan fees will still apply. You must begin receiving your minimum required distribution by April 1 of the year following the year in which you reach age 70½ or sever employment with the City, whichever occurs later. When you are ready to receive a distribution, you will have the payout options available at that time. If you have already elected a payout method for a future payout date, you may change this distribution method up to 30 days prior to the payout date. Lump-Sum Payment Options Full Lump-Sum Distribution If you select a full lump-sum distribution, the full vested value of each investment account will be paid to you in a single sum. Great-West Retirement Services liquidates the funds from all the investment options in which you have a balance and sends you one check. While you gain immediate access to the cash, this option is fully taxable to you in the year the funds are distributed. Federal income tax is witheld at a rate of 20% of the gross amount. State income tax will be withheld as applicable. See page 7 for further details on taxation. Partial Lump-Sum Distribution You may elect to take a portion of your balance as a distribution. A single payment, via check, will be made to you directly. This option is fully taxable to you in the year the funds are distributed. Federal income tax is withheld at a rate of 20% of the gross amount. State income tax will be withheld as applicable. See page 7 for further details on taxation. If you wish to receive an additional partial lump-sum payment, complete a Distribution Request Form for the amount you wish to receive. Please note that Great-West Retirement Services reserves the right to assess an additional administrative charge for each request beyond two in any calendar year. 2 Web site

5 Periodic Payment Options Periodic Payment of a Specified Amount You designate the dollar amount that you wish to receive on a regular installment basis (monthly, quarterly, semi-annually or annually). Payments to you will continue until your account balance is zero. The number of payments you receive will vary depending on the rate of return of your investments. The periodic payments must be structured so they will deplete your account over a time period not to exceed your life expectancy. Periodic Payment of a Specified Amount with a Cost of Living Adjustment (COLA) You choose a dollar amount to be distributed on a regular installment basis (monthly, quarterly, semi-annually or annually), and your payment will be adjusted annually based on a cost of living adjustment (COLA). The COLA is currently based on the Los Angeles/Riverside/Orange Consumer Price Index (CPI) as published by the federal government. Your payment will be adjusted by multiplying your payment amount by the CPI factor. The CPI factor is calculated annually, and any change to your payment is made effective with your January check. Your payment amount will be adjusted and your account balance affected regardless of whether your investment rate of return in the Plan is greater than, less than or the same as the change in the CPI. Periodic Payment for Period Certain With the period certain periodic payment option, you will receive payments on a regular installment basis (monthly, quarterly, semi-annually or annually). Payment amounts depend on the length of time you choose to receive payments, the periodic basis that you choose and the rate of return of your investment options. Your payment amount is calculated by dividing your current account balance by the number of remaining payments. Payment is adjusted by: Payment Amount x CPI Factor Each payment is calculated by: Current Account Balance Your payment is recalculated each time a Number of Remaining Payments payment is distributed; therefore, your payment will not be the same amount each time. The payment amount will depend on the account value, which may fluctuate depending upon what your funds earn in the investments that you have chosen. With this payment method, your balance will be zero by the end of the term you select. The periodic payment must be structured so it will deplete your account over a time period not to exceed your life expectancy. Note If you are currently receiving a periodic payment and wish to change it, please complete the Distribution Request Form to indicate your new periodic payment schedule. Please note that Great-West Retirement Services reserves the right to assess an additional administrative charge for each change to your periodic payment after two changes have already been made during the calendar year. Please allow about 30 days for changes to take effect. KeyTalk (888)

6 Annuity Payment Options (Fixed and Variable) An annuity is a payment option that can guarantee you a retirement income for life or a limited, defined period. You will receive payments on a regular basis. Upon retiring, you can request an annuity quote from Great-West Retirement Services. The annuity quote will illustrate your lifetime annuity payment based on your life expectancy, account value and current annuity rate. The current annuity provider is Hartford Life Insurance Company. You may choose a fixed or variable annuity payout or a combination of both. A fixed annuity will provide you with a payment amount that will not change for as long as the annuity period continues. A variable annuity will provide you with a payment amount that will fluctuate, depending on the performance of the underlying funds. Therefore, when redeemed, investments may be worth more or less than their original cost. If you wish to elect an annuity, please call the Service Center for additional forms required by Hartford. Single Life Annuity With a single life annuity, you will receive monthly annuity payments for the rest of your life. This payment option provides the highest annuity payments available. However, there is no minimum number of payments guaranteed and no provision for a death benefit to your beneficiary. Once you elect this method and distributions start, your election becomes irrevocable. Life Annuity with Period Certain You will receive monthly annuity payments for the guaranteed annuity payment period you select (5, 10, 15 or 20 years) or for your lifetime, whichever is longer. Upon your death, any payments remaining under the guaranteed period (if any) will be paid to your beneficiary. Once you elect this method and distributions start, your election becomes irrevocable. Refund Life Annuity You will receive a guaranteed life income. If the total of the payments made during your lifetime is less than the premium you paid, payments will continue to be made to your beneficiary until the payments equal the premium paid. Depending on the provider, the provider may pay your beneficiary in a lump-sum distribution. Once you elect this method and distributions start, your election becomes irrevocable. Joint and Survivor Period Certain You will receive monthly annuity payments for life. Upon your death, your designated second annuitant will continue to receive payments at 100%, 66 2 /3% or 50% of your payment. Upon your death and your second annuitant s death, any payments remaining under the guaranteed payment period you selected (5, 10, 15 or 20 years) will be paid to a named beneficiary. Once you elect this method and distributions start, your election becomes irrevocable. Note California residents pay a state insurance tax of 2.35% upon purchase of an annuity. This tax is deducted from your account balance at the time an annuity purchase is made. In addition, variable annuity distributions may result in an additional or higher Mortality and Expense Risk charge than that which may have applied prior to the purchase of the annuity. Your Great-West Retirement Services representative will work with you to provide full disclosure of all taxes/fees associated with an annuity purchase. To request an annuity quote, call the Service Center at (888) and press 0. 4 Web site

7 Designated Period Annuity You will receive an income for the designated period of your choice. It does not necessarily provide you with income for your lifetime. If you should die before the end of the designated period, the remaining payments will be made to your beneficiary. If you should survive beyond the designated period, your payments will stop at the end of the designated period. Once you elect this method and distributions start, your election becomes irrevocable. Combination Options At the time you elect your distribution method, you can specify a combination of payment options for portions of your account balance. Partial Lump-Sum and Periodic Payment or Annuity You can withdraw less than 100% of your balance for a partial lump-sum payment after severance of employment and then also elect a periodic payment or annuity payment option for the remaining balance. This option allows you to keep your remaining balance in the investment options available under the Plan. Periodic Payment and Annuity You can elect to have part of your balance applied to any type of periodic payment and the remaining balance applied to any type of annuity. This option allows you to have different types of payouts as your needs dictate. Periodic Payment and Future Partial Lump-Sum Distributions If you elect to receive a periodic payment and, in the future wish to receive a partial lump-sum payment from your balance, complete the Distribution Request Form to receive the partial lump-sum payment. The partial payment does not affect your periodic payment schedule. Series of Partial Lump-Sum Payments You may elect partial lump-sum payments at different times as your needs dictate. Complete the Distribution Request Form each time you wish to receive a partial payment. Please note that Great-West Retirement Services reserves the right to assess an additional administrative charge for each request beyond two in any calendar year. KeyTalk (888)

8 Minimum Distribution Rules In order to comply with U.S. Treasury regulations, you must receive at least the minimum amount required at your required beginning date (RBD). Your RBD is April 1 of the calendar year following the calendar year in which you reach age 70½ or sever employment with the City of Los Angeles, whichever is later. If you wait until April 1 of the calendar year following the calendar year in which you attain age 70½, you will be required to take a second distribution by December 31 of the same calendar year. There are several payment methods you can choose to meet the minimum distribution requirements: 1 Full Lump-Sum Distributions. If you take a single lump-sum distribution of your entire account balance on or before your RBD, you will meet the minimum distribution requirements. 2 Partial Lump-Sum Distributions. You may elect to take a partial lumpsum distribution each year in an amount sufficient to meet the minimum distribution requirements (MDR). You are solely responsible for determining what amount will satisfy the MDR. 3 Periodic Payments. You may elect installment payments from your account for a fixed dollar amount or for a fixed number of years. However, neither payment selection may exceed your life expectancy. 4 Annuity Payments. If you elect an annuity option, you must receive your first payment on or before your RBD to meet the minimum distribution requirements. 5 Automated Minimum Distribution Request. You may elect to receive the minimum annual payment required under current U.S. Treasury regulations by authorizing Great-West Retirement Services to calculate the minimum each year and make payments to you. Note The IRS can impose a 50% excise penalty on amounts that should have been distributed under the MDR but were not. While Great-West Retirement Services can provide assistance with calculating your minimum distribution amount, it is ultimately your responsibility to ensure that you meet the MDR. We strongly advise you to consult with a tax adviser. The IRS may impose a penalty tax on amounts that were not distributed as and when required under the Internal Revenue Code. Great-West Retirement Services does not assume any responsibility or liability for ensuring that distributions are elected in a timely manner. The participant is solely responsible for ensuring that distributions are elected in a timely manner. Death Claims Your elected beneficiary will receive any remaining funds in your account at your death. The following table illustrates the options available to your beneficiary upon your death. Your beneficiary has the same flexibility in distributions as you do. (See page 1 for details.) May receive the balance in one of the following ways: 3 6 Beneficiary is spouse only Beneficiary is non-spouse 4 Beneficiary is non-individual (i.e., estate, trust, charity, etc.) Defer Payment Yes No No Full Lump Sum Yes Yes 4 Yes 4 Partial Lump Sum No No No Periodic Payments Yes 5 Yes 5 Yes 5 Annuity Yes Yes No Roll over to Another Plan Yes No No Note Please remember to inform Great-West Retirement Services of any beneficiary changes as soon as possible. To change your beneficiary, call KeyTalk and press 0 to order a Beneficiary Designation Form. 3 This table only applies if the participant dies prior to age 70½. 4 If the non-spouse beneficiary does not elect periodic or annuity payments, distribution is required within five years of the date of death. 5 The IRS requires beneficiaries to take a minimum payment based on a period of no longer than the beneficiary s life expectancy. Rules may vary depending on the type of beneficiary. Please contact your representative for further details. Web site

9 Taxes Taxation of Distributions The Internal Revenue Code considers all distributions from section 457 deferred compensation plans to be ordinary income. You must include any distribution received in your gross income in the year of distribution. Section 457 distributions have no special tax treatment (such as the 5- or 10-year income averaging). The death benefit exclusion does not apply to distributions from section 457 plans. Tax Withholding Rules Distributions from a section 457 deferred compensation plan are considered to be regular taxable income by the Internal Revenue Code. Lump-sum distributions are taxed as supplemental wages. The regulations require that federal income tax be withheld at a rate of 20% of the gross amount you request. State income tax withholding is applicable as mandated by your state of residency. You may elect to have more tax withheld. Depending upon your personal circumstances, you may or may not owe additional income tax on your distribution(s) when you file your tax returns. Special note for participants electing a periodic payment of a period certain of 10 years or longer: You can submit an IRS Form W-4P, Withholding Certificate for Pension or Annuity Payments, to elect withholding that is appropriate for your tax situation. If a W-4P is not submitted with your request, Great-West Retirement Services will default your federal income tax withholding to a status of married with three allowances. You may obtain a W-4P by calling the IRS at (800) IRS-FORM or by visiting Annuity Payments Annuity payments are made by the insurance company issuing the annuity. The insurance company issuing your annuity payments will withhold the applicable income tax. Tax Forms You will be mailed a Form 1099-R by January 31 following any year in which you receive a distribution. Great-West Retirement Services is responsible for issuing your 1099-R, except for annuity payments. Forms 1099-R for annuity payments are issued by the annuity provider. If you do not receive a Form 1099-R by February 15 after a year in which you received a distribution, please call KeyTalk to request a duplicate. This does not apply to annuity payments since your annuity provider is responsible for issuing Forms 1099-R for annuity payments. Note California tax is withheld only if you are a resident of California at the time of distribution. If you move out of California, your state of permanent residency may or may not have mandatory withholding. Great-West Retirement Services will withhold state income taxes according to the state of your primary residence. Please remember to inform Great-West Retirement Services of any address changes as soon as possible. To change your address, call KeyTalk and press 0 during business hours to speak with a service representative to update your address and phone number. Outstanding Loan Payoff If you have an outstanding loan on your account, you must either pay off the outstanding loan balance with a cashier s check or money order, or you may treat your outstanding loan (principal and interest) as a taxable distribution at the time you request a distribution by checking the appropriate box on the Distribution Request Form. KeyTalk (888)

10 Rollovers to Another Plan Rollovers to Employer-Sponsored Plan Upon severance of employment from the City of Los Angeles, you may elect to roll over your balance, partially or wholly, to another eligible governmental 457(b), 401(a), 401(k) or 403(b) plan, provided you are enrolled in your current employer s plan. Your current employer s plan must also accept the funds from the City s 457 Plan. Rollovers to IRAs Upon severance of employment from the City of Los Angeles, you may elect to transfer your balance, partially or wholly, to an Individual Retirement Account (IRA) with a financial institution of your choice. Self-Directed Brokerage Funds 8 Note When you roll your funds over from your 457 to a 401(a), 401(k), 403(b) plan or an IRA, your 457 funds then may be subject to an early withdrawal penalty. If you are under age 59½ and request a distribution of the funds you rolled over, you may be subject to an additional 10% penalty tax as well as regular federal and state income tax. Please carefully evaluate your choices in the receiving plan or IRA, as there may be higher fees and/or lower quality investment choices in your new provider s plan. Please contact your local Great-West Retirement Services representative if you wish to discuss your options. For participants who have funds in OptionsPlus, the Self-Directed Brokerage option, special rules may apply to your distribution request. The Self-Directed Brokerage option is offered through First Trust Corporation. For more complete information about the Self-Directed Brokerage option, including risks, fees and expenses, contact First Trust at (800) or log on to their Web site at Defer Distribution You may maintain your balance, either partially or wholly, in the OptionsPlus program if you elect to postpone your distribution. If you elect to start distributions, you will be required to transfer part or all of your balance from the OptionsPlus investment options to one or more of the main core options at Great-West Retirement Services. Full Lump-Sum or Partial Lump-Sum Option If you maintain any funds in the OptionsPlus program, you will need to contact OptionsPlus to transfer the funds to be distributed to the Plan s core options. In the event that the transferred funds have not been received by Great-West Retirement Services prior to your request being submitted, the distribution will not include the funds held in the OptionsPlus program. A new distribution request must be submitted once the funds have been transferred from OptionsPlus for you to receive that portion. Periodic Payment Options If you maintain any funds in the OptionsPlus program, the following restrictions apply: H The Periodic Payment of a Period Certain option is not available. However, the Periodic Payment of an Amount Certain and the Periodic Payment of an Amount Certain with COLA are available. H Great-West Retirement Services requires you to maintain a minimum of three payments equivalent to the gross amount of each payment (including taxes) at all times in one or more core options in order to process your periodic payment and ensure that payments will continue without interruption. It is your responsibility to ensure that this amount exists in one or more of the core options to fund your periodic payments, by transferring from your OptionsPlus account. If a sufficient amount to fund your next payment is not available in the core options, your periodic payments will cease and you must submit a written request to resume payments once a sufficient amount exists in the core account. Because Great-West Retirement Services does not maintain OptionsPlus daily balances, nor does it have the ability to transfer funds automatically for distribution payments for your OptionsPlus account, these restrictions are necessary to ensure a continuous distribution payment stream. Annuity Options If you maintain any funds in the OptionsPlus program, you must to contact OptionsPlus to have all the funds to be distributed transferred to the Plan s approved investment options ( core options under Great-West Retirement Services). In the event that the transferred funds have not been received by Great-West Retirement Services prior to your request being submitted, we will notify you that your distribution request will not be processed. The Self-Directed Brokerage provider is subject to change. Web site

11 Glossary of Terms Beneficiary Your beneficiary is the person you specify to receive proceeds or benefits from your account upon your death if applicable to the payment option you choose. Your primary beneficiary is the person who will receive proceeds from your account first. If the primary beneficiary predeceases you, your contingent beneficiary(ies) will receive benefits or the remainder of the benefits in the percentages that you specify. Fixed Annuity Payment A fixed annuity is an investment from which you receive payments of a guaranteed dollar amount for the duration of the annuity. Once you have started this method of distribution, you cannot change to another method. Full Lump-Sum Payment The full lump-sum method distributes your entire account balance at one time. Once the payment is made, it cannot be reversed. Partial Payout Option You can choose to apply less than 100% of your account balance toward a fixed annuity, variable annuity or partial lump-sum distribution. You will be able to keep your remaining funds invested in the investment options available under the Plan and transfer funds among those options. Periodic Payment The periodic payment method allows you to withdraw money in installments without purchasing an annuity. You can keep your funds invested in the investment options available under the Plan and transfer funds among those options. Required Beginning Date (RBD) The RBD is the latest date on which you can elect distributions to begin. The Internal Revenue Code states that you must begin your distributions no later than April 1 of the calendar year following the year in which you reach age 70½ or sever employment with the City of Los Angeles, whichever is later. Variable Annuity Payment A variable annuity is an investment from which you receive payments that will fluctuate with the performance of your variable investment options. Once you have started this method of distribution, you cannot change to another method. around the clock access to your account 6 Access to KeyTalk and the Web site may be limited or unavailable during periods of peak demand, market volatility, systems upgrades/maintenance or other reasons. Transfer requests made via the Web site or KeyTalk received on business days prior to close of the New York Stock Exchange (1:00 p.m. Pacific Time or earlier on some holidays or other special circumstances) will be initiated at the close of business the same day the request was received. The actual effective date of your transaction may vary depending on the investment option selected. 7 The account owner is responsible for keeping the assigned PIN confidential. Please contact Great-West Retirement Services immediately if you suspect any unauthorized use. KeyTalk (888) H Review account balances and fund values. H Analyze your personal risk tolerance and evaluate model portfolios. H Review prospectuses and annual & semi-annual reports. H Access financial calculators. H Obtain a Personal Identification Number (PIN) or personalize your PIN. 7 H Make changes to your deferral or investment options. 9

12 Important Location Information Local Service Center City Hall 200 North Spring Street Room 867 (Benefits Office) Los Angeles, CA Hours 8:30 a.m. to 12:00 p.m. & 12:30 p.m. to 4:00 p.m., Monday through Friday* (except holidays) Web site KeyTalk (888) Great-West Life & Annuity Insurance Company Main Office 8515 East Orchard Road, 10T2 Greenwood Village, CO Important Note Although every effort is made to keep the information in this booklet current, it is subject to changes without notice. Federal, state and local tax laws are continually being revised and updated, and new plan provisions may be adopted by the City of Los Angeles Deferred Compensation Plan. For the most current version of this booklet, please call KeyTalk. * Occasionally, a Great-West Retirement Services representative may not be available at the Local Service Center on normal business days. Prior to visiting, please verify the office hours by calling KeyTalk and pressing 3 for local office information. Great-West Retirement Services SM refers to products and services provided by Great-West Life & Annuity Insurance Company, First Great-West Life & Annuity Insurance Company, White Plains, New York, and their subsidiaries and affiliates. Great-West Life & Annuity Insurance Company is not licensed to conduct business in New York. Products are sold in New York by its subsidiary, First Great-West Life & Annuity Insurance Company. Great-West Retirement Services SM and KeyTalk are service marks of Great-West Life & Annuity Insurance Company. All rights reserved. Securities (except the Self-Directed Brokerage option), when offered, are offered through GWFS Equities, Inc., a wholly owned subsidiary of Great-West Life & Annuity Insurance Company and an affiliate of First Great-West Life & Annuity Insurance Company, White Plains, New York. Securities available through the Self-Directed Brokerage Account (SDB) are offered by First Trust Corporation. Additional information can be obtained by calling First Trust Corporation at (800) Please consider the investment objectives, risks, fees and expenses carefully before investing. For this and other important information you may obtain prospectuses for mutual funds, any applicable annuity contract and the annuity s underlying funds and/or disclosure documents from your registered representative. For prospectuses on Self-Directed Brokerage, contact First Trust Corporation at (800) Read them carefully before investing. Form# CB1003DW 2/05 SM

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