Investment Performance

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PERFORMANCE UPDATE  
 
403B PLAN OF RUSO  
 
Average Annual Total Returns as of 12/31/2022    (shown in percentages)  

 Variable annuities and mutual funds offered through a retirement plan are intended as long-term investments designed for retirement purposes. Money distributed from a 403(b) plan, 401(a)/(k) plan, or a 457 plan will be taxed as ordinary income in the year the money is distributed. Early withdrawals from a 403(b) plan and a 401(a)/(k) plan, if taken prior to age 59 1/2, will be subject to the IRS 10% premature distribution penalty tax, unless an exception applies. This IRS premature distribution penalty tax does not apply to 457 plans. Account values fluctuate with market conditions, and when surrendered the principal may be worth more or less than the original amount invested. 

 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. 

 Voya will assess an annual asset-based service fee of 0.15% to all investment options excluding balances held in your plans Stability of Principal or Fixed Account. This fee is deducted from your account at a frequency determined by your plan monthly or quarterly and will be pro-rated across balances held in each of the investment options. These returns do not reflect any plan level administrative fees, if applicable; if reflected, returns would be less favorable. Please contact your local representative for more information. 
 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 - 4020 (1)(2)(7)0.080.251.001.001.071.251.55   
Bonds   
   Inflation-Protected Bond 
Loomis Sayles Inflation Protected Securities Fund - Instl Cl - 6507 (3)-1.171.94-12.46-12.461.572.161.0205/20/19910.52 0.40  
   Intermediate Core-Plus Bond 
Dodge & Cox Income Fund - Class I Shares - 2683 -0.332.76-10.87-10.87-1.131.122.0901/03/19890.41 0.41  
   Multisector Bond 
Pioneer Strategic Income Fund - Class K Shares - 3795 (8)-0.131.27-12.72-12.72-1.161.032.4504/14/19990.63 0.59  
Asset Allocation   
   Lifecycle - Index 
Vanguard� Target Retirement 2020 Fund - 1296 (4)-2.564.97-14.15-14.151.333.225.8306/07/20060.08 0.08  
Vanguard� Target Retirement 2025 Fund - 926 (4)-3.016.03-15.55-15.551.663.586.4310/27/20030.08 0.08  
Vanguard� Target Retirement 2030 Fund - 1297 (4)-3.316.81-16.27-16.272.093.946.9906/07/20060.08 0.08  
Vanguard� Target Retirement 2035 Fund - 793 (4)-3.557.45-16.62-16.622.644.347.5710/27/20030.08 0.08  
Vanguard� Target Retirement 2040 Fund - 1298 (4)-3.718.20-16.98-16.983.174.748.0606/07/20060.08 0.08  
Vanguard� Target Retirement 2045 Fund - 794 (4)-3.958.89-17.36-17.363.745.148.3410/27/20030.08 0.08  
Vanguard� Target Retirement 2050 Fund - 1299 (4)-4.069.23-17.46-17.463.805.188.3606/07/20060.08 0.08  
Vanguard� Target Retirement 2055 Fund - 2473 (4)-4.049.23-17.46-17.463.795.188.3408/18/20100.08 0.08  
Vanguard� Target Retirement 2060 Fund - 3447 (4)-4.069.23-17.46-17.463.795.188.3401/19/20120.08 0.08  
Vanguard� Target Retirement 2065 Fund - 8995 (4)(5)-4.059.24-17.39-17.393.785.156.4207/12/20170.08 0.08  
Vanguard� Target Retirement 2070 Fund - F690 (4)-4.069.211.0206/17/20220.08 0.08  
Vanguard� Target Retirement Income Fund - 795 (4)-2.133.74-12.74-12.740.342.303.6210/27/20030.08 0.08  
Large Cap Value/Blend   
   Large Blend 
TIAA-CREF Social Choice Equity Fund - Institutional Class - 1224 (6)-5.569.76-17.77-17.777.779.2312.0207/01/19990.17 0.17  
Vanguard� Total Stock Market Index Fund - Admiral™ Shares - 1122 -5.877.14-19.53-19.536.978.7112.0811/13/20000.04 0.04  
   Large Value 
MFS� Value Fund - Class R6 - 9857 -3.2213.60-5.80-5.807.157.6411.2901/02/19960.45 0.45  
Large Cap Growth   
   Large Growth 
American Funds AMCAP Fund� - Class R-6 - 1949 -4.915.55-28.53-28.532.606.1410.9005/01/19670.33 0.33  
Small/Mid/Specialty   
   Mid-Cap Blend 
Vanguard� Mid-Cap Index Fund - Admiral™ Shares - 756 -5.369.02-18.71-18.716.177.3211.1011/12/20010.05 0.05  
   Mid-Cap Growth 
Delaware Ivy Mid Cap Growth Fund - Class R6 - 6196 (9)-5.826.10-30.45-30.456.6010.9911.7106/30/20000.80 0.79  
   Mid-Cap Value 
Vanguard� Mid-Cap Value Index Fund - Admiral™ Shares - 3311 -4.4912.09-7.90-7.906.746.3910.9808/17/20060.07 0.07  
   Small Blend 
Vanguard� Small-Cap Index Fund - Admiral™ Shares - 757 -5.947.97-17.61-17.614.935.9410.1111/13/20000.05 0.05  
   Small Growth 
Vanguard� Explorer™ Fund - Admiral™ Shares - 828 -5.186.88-23.17-23.175.548.5611.6511/12/20010.29 0.29  
   Small Value 
DFA U.S. Targeted Value Portfolio - Institutional Class - 2566 -5.8512.63-4.62-4.6211.167.0410.4902/23/20000.29 0.29  
   Specialty - Real Estate 
Vanguard� Real Estate Index Fund - Admiral™ Shares - 802 -5.094.31-26.20-26.20-0.413.686.4211/12/20010.12 0.12  
Global / International   
   Foreign Large Blend 
MFS� International Equity Fund - Class R6 - 1118 (10)-2.4016.19-14.83-14.832.914.576.1901/30/19960.69 0.68  
   Foreign Large Value 
Dodge & Cox International Stock Fund - Class I Shares - 735 -1.6916.01-6.78-6.781.851.254.8105/01/20010.62 0.62  

 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 temporary fee or expense waivers that may be in effect for a fund. The Net Expense Ratios reflect any applicable temporary fee or expense waivers. 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 945, Fund 4020 is 1.30%, 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 1.00%. VRIAC will not apply a decrease to the current rate following a rate change initiated solely by us prior to the last day of the three-month period measured from the first day of the month in which such change was effective. Note: The current rate for an initial investment in the fixed account previously identified may be in effect for less than a full three-month period. 

(2) Voya Fixed Plus Account III - Voya will credit interest at an annual effective rate of 3.00% from 03/25/2014 through 03/31/2016, which is higher than the standard Voya Fixed Plus Account III credited rate. Currently, the standard Voya Fixed Plus Account III credited rate is 2.10%, guaranteed not to be less than 1.90% through December 31, 2014.  Beginning 04/01/2016 and thereafter, the credited rate for your plan will be the same as the standard Voya Fixed Plus Account III credited rate in effect at that time. Please note the Guaranteed Minimum Interest Rate is 1.00%. Guarantees are based on the claims-paying ability of Voya Retirement Insurance and Annuity Company. Restrictions may apply to transfers of funds from the Voya Fixed Plus Account III to other contract investment options. Please refer to your product prospectus / disclosure booklet or call your 800 number for more information. 
(3) Loomis Sayles Inflation Protected Securities Fund - Instl Cl: Loomis, Sayles & Company, L.P. (Loomis Sayles or the Adviser) has given a binding contractual undertaking to the Fund to limit the amount of the Fund's total annual fund operating expenses to 0.40% of the Fund's average daily net assets for Institutional Class shares, exclusive of brokerage expenses, interest expense, taxes, acquired fund fees and expenses, organizational and extraordinary expenses, such as litigation and indemnification expenses. This undertaking is in effect through January 31, 2023 and may be terminated before then only with the consent of the Fund's Board of Trustees. The Adviser will be permitted to recover, on a class by class basis, management fees waived and/or expenses reimbursed to the extent that expenses in later periods fall below both (1) the class' applicable expense limitation at the time such amounts were waived/reimbursed and (2) the class' current applicable expense limitation. The Fund will not be obligated to repay any such waived/reimbursed fees and expenses more than one year after the end of the fiscal year in which the fees or expenses were waived/reimbursed. 

(4) Investments in Target Retirement Funds are subject to the risks of their underlying funds. The year in the fund name refers to the approximate year (the target date) when an investor in the fund would retire and leave the work force. The fund will gradually shift its emphasis from more aggressive investments to more conservative ones based on its target date. An investment in the Target Retirement Fund is not guaranteed at any time, including on or after the target date. 
(5) Vanguard Target Retirement Trusts:  Investments in Target Retirement Trusts are subject to the risks of their underlying investments. The year in the fund name refers to the approximate year (the target date) when an investor in the trust would retire and leave the workforce. The trust will gradually shift its emphasis from more aggressive investments to more conservative ones based on its target date. An investment in a Target Retirement Trust is not guaranteed at any time, including on or after the target date.
These trust suggestions are based on an estimated retirement age of approximately 65. Should you choose to retire significantly earlier or later, you may want to consider a trust with an asset allocation more appropriate to your particular situation.

All investing is subject to risk, including the possible loss of the money you invest. Diversification does not ensure a profit or protect against a loss. Investments in bonds are subject to interest rate, credit, and inflation risk.
 
(6) TIAA-CREF Social Choice Equity Fund - Institutional Class: Under the Fund's expense reimbursement arrangements, the Fund's investment adviser, Teachers Advisors, LLC, has contractually agreed to reimburse the Fund for any Total annual Fund operating expenses (excluding interest, taxes, brokerage commissions or other transactional expenses, Acquired fund fees and expenses and extraordinary expenses) that exceed 0.22% of average daily net assets. These expense reimbursement arrangements will continue through at least February 28, 2019, unless changed with approval of the Board of Trustees. 

(7) 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. 

(8) Pioneer Strategic Income Fund - Class K Shares: The fund's investment adviser has contractually agreed to limit ordinary operating expenses (ordinary operating expenses means all fund expenses other than taxes, brokerage commissions, acquired fund fees and expenses, and extraordinary expenses, such as litigation) to the extent required to reduce fund expenses to 0.59% of the average daily net assets attributable to Class K shares. These expense limitations are in effect through February 1, 2025. There can be no assurance that the adviser will extend the expense limitations beyond such time. Net expenses for a class may exceed the applicable expense limitation to the extent that the fund incurs excluded expenses. While in effect, the arrangement may be terminated for a class only by agreement of the adviser and the Board of Trustees. 
(9) Delaware Ivy Mid Cap Growth Fund - Class R6: Delaware Management Company (Manager), the Fund's investment manager, Delaware Distributors, L.P. (Distributor), the Fund's distributor, and/or Delaware Investments Fund Services Company (DIFSC), the Fund's transfer agent, have contractually agreed to waive all or a portion of fees and/or pay/reimburse expenses (excluding any 12b-1 fees, acquired fund fees and expenses, taxes, interest, short sale dividend and 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 0.79% of the Class R6 Shares' average daily net assets from July 29, 2022 through July 29, 2023. These waivers and reimbursements may only be terminated by agreement of the Manager, the Distributor, DIFSC and/or the Fund, as applicable. 
(10) MFS Institutional International Equity Fund: Massachusetts Financial Services Company (MFS) has agreed in writing to waive at least 0.01% of the fund's management fee as part of an agreement pursuant to which MFS has agreed to reduce its management fee by a specified amount if certain MFS mutual fund assets exceed thresholds agreed to by MFS and the fund's Board of Trustees. The agreement to waive at least 0.01% of the management fee will continue until modified by the fund's Board of Trustees, but such agreement will continue until at least October 31, 2023. 



Creation Date: Tuesday, January 31, 2023

Insurance products, annuities and retirement plan funding issued by (third party administrative services may also be provided by) Voya Retirement Insurance and Annuity Company, One Orange Way, Windsor, CT 06095-4774. Securities are distributed by Voya Financial Partners LLC (member SIPC). Custodial account agreements or trust agreements are provided by Voya Institutional Trust Company. All companies are members of the Voya™ family of companies. Securities may also be distributed through other broker-dealers with which Voya has selling agreements. Insurance obligations are the responsibility of each individual company. Product and services may not be available in all states.