Investment Performance

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PERFORMANCE UPDATE  
 
TRSL ORP  
 
Average Annual Total Returns as of 06/30/2022    (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.  

 An annual administrative expense of 0.20% on an annual basis applies to all of the investments listed below and is deducted quarterly including the Voya Stable Value Fund. The performance data shown below does not reflect the administrative expense. If such fees had been reflected, the performance data shown for each option would have been lower. 

 The returns assume reinvestment of all dividends (ordinary income and capital gains) and are net of management fees and other fund operating expenses. 

 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   
   Stable Value 
Voya Stable Value Fund - Fee Class 20 CIT - 9312 0.140.410.801.641.941.991.9510/03/20160.20 0.20  
Bonds   
   High Yield Bond 
PGIM High Yield Fund - Class R6 - 6589 -6.36-9.25-13.50-11.770.672.804.8503/01/19960.38 0.38  
   Intermediate Core Bond 
Baird Aggregate Bond Fund - Institutional Class - 6931 -1.75-5.01-11.03-11.02-0.731.072.1309/29/20000.30 0.30  
Vanguard� Total Bond Market Index Fund - Institutional - 799 -1.49-4.71-10.41-10.39-0.920.861.5109/18/19950.04 0.04  
Asset Allocation   
   Lifecycle - Index 
Vanguard� Target Retirement 2015 Fund - 791 (1)-3.59-7.40-11.84-10.122.483.855.5510/27/20030.08 0.08  
Vanguard� Target Retirement 2020 Fund - 1296 (1)-4.60-9.20-13.80-11.653.354.646.5106/07/20060.08 0.08  
Vanguard� Target Retirement 2025 Fund - 926 (1)-5.40-10.72-15.63-13.213.745.077.1010/27/20030.08 0.08  
Vanguard� Target Retirement 2030 Fund - 1297 (1)-5.96-11.67-16.66-13.944.225.507.6806/07/20060.08 0.08  
Vanguard� Target Retirement 2035 Fund - 793 (1)-6.46-12.41-17.37-14.364.805.968.2710/27/20030.08 0.08  
Vanguard� Target Retirement 2040 Fund - 1298 (1)-6.95-13.17-18.08-14.825.356.428.7406/07/20060.08 0.08  
Vanguard� Target Retirement 2045 Fund - 794 (1)-7.47-13.93-18.82-15.295.896.808.9710/27/20030.08 0.08  
Vanguard� Target Retirement 2050 Fund - 1299 (1)-7.64-14.21-19.06-15.455.916.818.9706/07/20060.08 0.08  
Vanguard� Target Retirement 2055 Fund - 2473 (1)-7.65-14.19-19.07-15.455.896.808.9508/18/20100.08 0.08  
Vanguard� Target Retirement 2060 Fund - 3447 (1)-7.65-14.19-19.07-15.445.896.798.9601/19/20120.08 0.08  
Vanguard� Target Retirement 2065 Fund - 8995 (2)-7.63-14.20-19.03-15.405.866.6707/12/20170.08 0.08  
Vanguard� Target Retirement Income Fund - 795 (1)-3.58-7.37-11.79-10.142.093.344.1210/27/20030.08 0.08  
Balanced   
   World Allocation 
Principal Diversified Real Asset Fund - Class R-6 - 9704 (3)-8.73-9.97-4.821.096.605.433.6603/16/20100.83 0.78  
Large Cap Value/Blend   
   Large Blend 
DFA U.S. Core Equity 2 Portfolio - Institutional Class - 3226 -8.81-14.75-18.47-11.0110.079.6512.1009/15/20050.19 0.19  
DFA U.S. Large Company Portfolio - Institutional Class - 3737 (6)-8.26-16.11-19.98-10.6910.5511.2512.8909/23/19990.09 0.08  
JPMorgan U.S. Equity Fund - Class R6 Shares - 3168 (4)-7.79-16.26-20.07-9.5613.2512.6413.9709/17/19930.47 0.44  
TIAA-CREF Social Choice Equity Fund - Institutional Class - 1224 (5)-8.58-16.03-21.56-14.469.9110.4512.2807/01/19990.17 0.17  
Vanguard� Institutional Index Fund - Institutional Shares - 566 -8.26-16.11-19.97-10.6510.5811.2812.9307/31/19900.04 0.04  
Large Cap Growth   
   Large Growth 
T. Rowe Price Large-Cap Growth Fund - I Class - 2467 -7.75-22.92-33.13-29.397.7312.1614.8210/31/20010.56 0.56  
Small/Mid/Specialty   
   Mid-Cap Growth 
Fidelity� Extended Market Index Fund - D113 -9.24-20.64-28.04-29.924.636.4310.2611/05/19970.04 0.04  
   Small Blend 
DFA U.S. Small Cap Portfolio - Institutional Class - 9753 -8.27-13.71-18.85-14.077.776.4010.4303/19/19920.27 0.27  
   Small Growth 
Vanguard� Explorer™ Fund - Admiral™ Shares - 828 -7.70-18.46-26.19-24.046.619.9212.0011/12/20010.29 0.29  
   Small Value 
DFA U.S. Targeted Value Portfolio - Institutional Class - 2566 -11.05-12.88-12.98-7.3510.387.1210.7702/23/20000.29 0.29  
Global / International   
   Foreign Large Blend 
Vanguard� Total International Stock Index Fund - Adm™ Sh - 9889 -8.34-12.86-18.16-18.942.002.715.1704/29/19960.11 0.11  
   Foreign Large Growth 
American Funds EuroPacific Growth Fund� - Class R-6 - 1723 -8.85-14.65-25.10-27.681.493.106.3004/16/19840.46 0.46  
 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) 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. 
(2) Vanguard Target Retirement Funds:  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 workforce. The fund will gradually shift its emphasis from more aggressive investments to more conservative ones based on its target date. An investment in a Target Retirement Fund is not guaranteed at any time, including on or after the target date.
These fund 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 fund 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.
 
(3) Principal Diversified Real Asset Fund - Class R-6: Principal Global Investors, LLC ("PGI"), the investment advisor, has contractually agreed to limit the Fund's Management Fees through the period ending December 30, 2021. The fee waiver will reduce the Fund's Management Fees by 0.05% (expressed as a percent of average net assets on an annualized basis). It is expected that the fee waiver will continue through the period disclosed; however, Principal Funds, Inc. and PGI, the parties to the agreement, may mutually agree to terminate the fee waiver prior to the end of the period. In addition, for Class R-6, the expense limit will maintain "Other Expenses" (expressed as a percent of average net assets on an annualized basis) not to exceed 0.02%, (excluding interest expense, expenses related to fund investments, acquired fund fees and expenses, and other extraordinary expenses). It is expected that these expense limits will continue through the period ending December 30, 2021; however, Principal Funds, Inc. and PGI, the parties to the agreement, may mutually agree to terminate the expense limits prior to the end of the period. Subject to applicable expense limits, the Fund may reimburse PGI for expenses incurred during the current fiscal year. 

(4) JPMorgan U.S. Equity Fund - Class R6 Shares: The Fund's adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding acquired fund fees and expenses other than certain money market fund fees as described in the prospectus, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, and extraordinary expenses) exceed 0.44% of the average daily net assets of Class R6 Shares. The Fund's adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund's investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. 

(5) 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. 

(6) DFA U.S. Large Company Portfolio - Institutional Class: For any period when the Feeder Portfolio is invested in other funds managed by Dimensional Fund Advisors LP (the "Advisor") (collectively, "Underlying Funds"), the Advisor has contractually agreed to permanently waive the Feeder Portfolio's direct investment management fee to the extent necessary to offset the proportionate share of any Underlying Fund's investment management fee paid by the Feeder Portfolio through its investment in such Underlying Fund. The amounts set forth under "Other Expenses" and "Total Annual Fund Operating Expenses" reflect the direct expenses of the Feeder Portfolio and the indirect expenses of the Feeder Portfolio's portion of the expenses of the Master Fund. 



Creation Date: Wednesday, July 6, 2022

Not FDIC/NCUA/NCUSIF Insured | Not a Deposit of a Bank/Credit Union | May Lose Value | Not Bank/Credit Union Guaranteed | Not Insured by Any Federal Government Agency

Insurance products issued 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. Insurance obligations are the responsibility of each individual company. All companies are members of the Voya® family of companies. Securities may also be through other broker-dealers with which Voya has selling agreements. Product and services may not be available in all states.