Quarterly Performance Report

As of March 31, 2020

It is the policy of the Department of Financial Services (DFS) to make available a broad range of investment options that have varying degrees of risk and return. The DFS has responsibility for ensuring that a variety of investment options are available, that information regarding these options is available to participants, and that program investment management expenses are kept to a minimum. The State of Florida’s 457(b) Government Deferred Compensation Plan is a participant directed investment program. The Investment Policy for Product Selection and Retention (IPPSR) establishes the investment standards for the Government Employees’ Deferred Compensation Plan, adopts criteria for the selection and retention of the Plan’s investment options, and provides a method for the quarterly evaluation and monitoring of the investment options. Copies of the IPPSR and product evaluations are available upon request.

For more information, you may contact our office at 850-413-3162 or toll-free at 1-877-299-8002. You may also

visit our website at www.myfloridadeferredcomp.com.

The numbers discussed in this document are performance as of the date indicated. Past performance does not guarantee future results. To find more

detailed information on products listed in this report contact the Investment Company directly. A prospectus can be obtained from the Investment

Company and should be read carefully before investing.

1. Click the button on the Bureau of Deferred Compensation website at(MyFloridaDeferredComp.com) and complete and submit the EZ Enrollment Form electronically.

2. Fax your EZ Enrollment form to 850-488-7186, or scan/email to DeferredCompensation@MyFloridaCFO.com(documents scanned or e-mailed should be encrypted to protect personal information).

3. Enroll online with the Investment Providers.

4. Contact one or more of the Investment Providers by phone to request an enrollment package to complete and return.

Investment Provider Transition. The Bureau of Deferred Compensation has reduced the number of Investment

Providers to three: AIG Retirement Services, Nationwide, and Voya. As of the date of this publication, T. Rowe Price and

Empower are no longer Investment Providers of the Plan.

Company Communications. The Investment Providers in the Plan offer a variety of methods to assist in retirement

planning goals. Guidance and education is offered by each of the Investment Providers via face-to-face representatives,

phone, and internet. To enroll, the following options are available:

Investment Options Available. The Investment Providers offer a wide variety of mutual funds and guarantee of

principal and interest accounts (see pages 8 & 9 for definitions).

Qualified Default Investment Alternatives (QDIA). Each Investment Provider offers a menu of Target Date Funds

(TDF) used as a default investment based on the participant’s age and time to retirement. These TDFs qualify under

the U.S. Department of Labor regulations as QDIA by acting as a single investment capable of meeting a participant’s

long-term retirement savings needs.

Fees. The “Investment Management Fee” or "Expense Ratio" is a fee charged by the mutual fund company itself

and not the Investment Provider. This fee is included in the investment return. The investment management

fee is important and should be considered when choosing options.

Customer Service. Customer service is a priority of the Bureau of Deferred Compensation and each Investment

Provider within the program. Please contact the Bureau of Deferred Compensation, toll-free, at 877-299-8002 with any

concerns.

Investment Advice. All the Investment Providers offer free consultation upon enrollment in the Deferred Compensation

Plan. Additionally, Nationwide and AIG Retirement Services offer advisory services to provide Participants in selecting

investments and other decisions regarding allocations and investment decisions. These services are available to

participants for a fee. Please contact Nationwide or AIG Retirement Services for any further questions about these

advisory services.

Page 1

Column Explanations (Needed for pages 3-7)

Investment Providers are the financial service providers that offer investments through the Deferred Compensation Plan. The Plan features three traditional investment companies and one online brokerage service company. Toll-free telephone numbers and web addresses are provided for easy access.

Products are the individual mutual funds, Target Date Funds, and other investments offered by the Investment Company.

Morningstar Fund Category identifies what type of stocks or bonds are held within that particular mutual fund. The definitions for all of these categories can be found on page 8 of this document.

Benchmark Index is a comparable standard for that particular mutual fund category and is listed with each mutual fund in italics.

Ticker Symbol is a system of letters used to identify the mutual fund in various types of media such as newspapers, websites, etc.

Star Rating is the 5-year Morningstar Star rating of a fund’s risk-adjusted return as related to similar funds. Funds are rated from one to five stars, with the top 10% of performers in each Morningstar Category receiving 5 stars and the bottom 10% of performers receiving 1 star. The Morningstar Star Rating is used for identifying funds worthy of further research, but should not be considered buy or sell recommendations. Funds with a Star Rating less than 3 are being reviewed for possible termination from the Deferred Compensation program.

Inception Date is the day a fund begins offering shares and identifies the beginning of a new mutual fund.

Historical Returns are the 12 month, 3, 5, and 10 year returns detailing the gain or loss from an investment over that time period. The historical return should be equal to or greater than the Benchmark Index returns over the same period of time. However, returns reflect historical performance and should not be considered indicative of future performance.

Fees include the fund compensation and other expenses associated with operating the mutual fund. The fee is stated as a percentage of the fund’s average daily net asset value and is assessed before any returns are paid to investors. The expense as a dollar amount of the fee will vary due to factors such as account balance and rate of return. For example, the dollar amount of the fee for a $1,000 account with an Investment Management Fee of 0.60% would be $6.00 (without any type of fluctuation in the fee or trading activity). A portion of the Investment Management Fee may be reimbursed to our Investment Companies for offering a particular fund. A portion of these fees -- $1.70 per participant per month -- funds the State of Florida Deferred Compensation Program.

Notes for the reported returns for each individual Investment Provider:• Fund names with respective 'ticker symbol' or N/A for trust products are the variable investment products offered in

the Deferred Compensation Plan.• Immediately below the Fund Name is its Morningstar Category.• Immediately below the fund's Inception Date in italics is the benchmark index identified by the Fund to measures its

performance. Comparing the Fund against its benchmark index will give an indication of fund performance.• A fund's Star Rating is determined by comparing a fund's risk adjusted returns with all other funds in the same

category. A rating is then assigned (5 = best, 1 = worst).• Short-term and excessive trading fees may apply to individual funds. Please see the prospectus of the mutual fund

for more information. Page 2

NationwidePh: 800.949.4457 Web: nrsflorida.com

Mutual Fund & Morningstar Fund Category

Ticker Symbol

5 yr Star Rating

Inception Date &Benchmark 12 Mo (%) 3YR (%) 5YR (%) 10YR (%) (%)

Dodge & Cox Income DODIX ***** 01/03/89 5.08 3.86 3.28 4.12 0.42 ≈ 4.20

Intermediate Core-Plus Bond BBgBarc US Agg Bond 8.93 4.82 3.36 3.88

T.Rowe Price New Income PRCIX ** 08/31/73 2.69 2.78 2.08 3.24 0.54 ≈ 5.40Intermediate Core Bond BBgBarc US Agg Bond 8.93 4.82 3.36 3.88

T. Rowe Price Spectrum Income RPSIX **** 06/29/90 -3.31 1.08 2.08 3.89 0.62 ≈ 6.20Multisector Bond BBgBarc US Agg Bond 8.93 4.82 3.36 3.88

T. Rowe Price Emerging Markets Bond PREMX *** 12/30/94 -12.86 -3.14 1.50 3.44 0.91 ≈ 9.10Emerging Markets Bond JPM EMBI Global -5.28 0.44 2.85 4.82

Fidelity Puritan FPURX ***** 04/16/47 -1.81 5.11 4.98 8.12 0.53 ≈ 5.30

Allocation--50% to 70% Equity S&P 500 -6.98 5.10 6.73 10.53

T. Rowe Price Capital Appreciation Trust N/A ***** 06/30/86 -1.86 6.67 7.22 9.93 0.57 ≈ 5.70Allocation--50% to 70% Equity S&P 500 -6.98 5.10 6.73 10.53

Invesco Growth & Income ACGIX ** 08/01/46 -23.69 -6.08 -0.18 5.53 0.82 ≈ 8.20

Large Value Russell 1000 Value -17.17 -2.18 1.90 7.67

Invesco Diversified Dividend DDFIX **** 10/25/05 -14.83 -2.33 1.80 7.49 0.53 ≈ 5.30

Large Value Russell 1000 Value -17.17 -2.18 1.90 7.67

T. Rowe Price Equity Income Trust N/A *** 10/31/85 -18.25 -2.44 1.61 6.61 0.52 ≈ 5.20Large Value Russell 1000 Value -17.17 -2.18 1.90 7.67

Neuberger Berman Sustainable Equity NBSLX *** 11/28/07 -11.68 1.12 3.54 8.59 0.86 ≈ 8.60Large Blend S&P 500 -6.98 5.10 6.73 10.53

T. Rowe Price Equity Index Trust N/A **** 03/30/90 -7.02 5.04 6.64 10.45 0.06 ≈ 0.60Large Blend S&P 500 -6.98 5.10 6.73 10.53T. Rowe Price Dividend Growth PRDGX ***** 12/30/92 -5.69 6.21 7.15 10.48 0.64 ≈ 6.40Large Blend S&P 500 -6.98 5.10 6.73 10.53

Vanguard Institutional Index VIIIX **** 07/07/97 -6.98 5.09 6.72 10.52 0.02 ≈ 0.20

Large Blend S&P 500 -6.98 5.10 6.73 10.53

T. Rowe Price Growth Stock Trust N/A *** 04/11/50 -3.44 10.11 9.53 12.83 0.50 ≈ 5.00Large Growth S&P 500 -6.98 5.10 6.73 10.53

Morgan Stanley Institutional Large Cap Growth MSEGX ***** 01/02/96 -1.12 16.12 13.32 15.11 0.85 ≈ 8.50

Large Growth Russell 1000 Growth 0.91 11.32 10.36 12.97

Fidelity Contrafund FCNTX *** 05/17/67 -2.00 9.68 8.96 11.90 0.82 ≈ 8.20

Large Growth S&P 500 -6.98 5.10 6.73 10.53

JP Morgan Mid Cap Value JMVSX *** 10/31/01 -24.89 -6.10 -1.55 7.31 1.00 ≈ 10.00

Mid-Cap Value Russell Mid Cap Value -24.13 -5.97 -0.76 7.22

T. Rowe Price Mid Cap Value TRMCX **** 06/28/96 -23.01 -6.22 -0.12 6.39 0.78 ≈ 7.80Mid-Cap Value Russell Mid Cap Value -24.13 -5.97 -0.76 7.22

Vanguard S&P 400 Mid Cap Index1 VSPMX *** 03/28/11 -22.55 -4.15 0.50 n/a 0.38 ≈ 3.80

Mid-Cap Blend S&P MidCap 400 TR -22.51 -4.09 0.56 7.88

T. Rowe Price Mid Cap Growth Trust N/A **** 06/30/92 -12.68 4.73 5.77 n/a 0.63 ≈ 6.30Mid-Cap Growth Russell Mid Cap Growth -9.45 6.53 5.61 10.89

T. Rowe Price New Horizons PRNHX ***** 06/03/60 -0.05 14.46 11.82 16.19 0.77 ≈ 7.70Mid-Cap Growth Russell 2000 Growth -18.58 0.10 1.70 8.89

Delaware Small Cap Value DEVIX **** 11/09/92 -28.20 -9.72 -2.05 5.75 0.90 ≈ 9.00Small Value Russell 2000 Value -29.64 -9.51 -2.42 4.79

Vanguard Small Cap Index1 VSCIX **** 07/07/97 -23.34 -3.26 0.43 7.86 0.34 ≈ 3.40Small Blend CRSP US Small Cap -23.38 -3.28 0.40 8.04

JPMorgan Small Cap Equity Select VSEIX ***** 05/07/96 -18.69 -2.16 2.04 9.25 1.01 ≈ 10.10

Small Blend Russell 2000 -23.99 -4.64 -0.25 6.90

T. Rowe Price Small Cap Value PRSVX ***** 06/30/88 -23.14 -4.96 1.12 6.81 0.85 ≈ 8.50Small Blend Russell 2000 Value -29.64 -9.51 -2.42 4.79

T. Rowe Price Small Cap Stock OTCFX **** 06/01/56 -16.10 2.06 3.98 10.23 0.89 ≈ 8.90Small Growth Russell 2000 -23.99 -4.64 -0.25 6.90

Wasatch Small Cap Growth WAAEX **** 12/08/86 -11.08 8.61 5.52 10.49 1.20 ≈ 12.00Small Growth Russell 2000 Growth -18.58 0.10 1.70 8.89

Vanguard Total International Stock Index1 VTSNX *** 11/29/10 -16.53 -2.51 -0.65 n/a 0.38 ≈ 3.80

Foreign Large Blend FTSE Global All Cap ex US (USA) NR -16.01 -2.28 -0.54 2.34

Oakmark International OAKIX * 09/30/92 -29.51 -11.30 -5.74 1.70 1.03 ≈ 10.30

Foreign Large Blend MSCI World ex USA NR -14.89 -2.07 -0.76 2.43

American Funds New World RNWEX ***** 10/07/02 -12.73 1.46 1.87 3.41 0.95 ≈ 9.50

Diversified Emerging Mkts MSCI ACWI NR -11.26 1.50 2.85 5.88

T. Rowe Price Overseas Stock TROSX *** 12/29/06 -15.84 -2.68 -1.08 3.01 0.81 ≈ 8.10Foreign Large Blend MSCI EAFE NR -14.38 -1.82 -0.62 2.72

T. Rowe Price International Value TRIGX *** 12/21/98 -20.07 -7.16 -4.26 0.82 0.81 ≈ 8.10Foreign Large Value MSCI EAFE NR -14.38 -1.82 -0.62 2.72

Vanguard REIT Index1 VGSNX *** 12/02/03 -16.51 -1.44 0.51 7.91 0.40 ≈ 4.00

Real Estate MSCI US IMI/Real Estate 25-50 GR -16.47 -0.25 0.00 0.00

T. Rowe Price Health Sciences PRHSX *** 12/29/95 -3.23 9.17 5.16 16.44 0.77 ≈ 7.70Health S&P 500 -6.98 5.10 6.73 10.53

T. Rowe Price Communications and Technology PRMTX ***** 10/13/93 5.63 13.46 13.93 15.59 0.78 ≈ 7.80Communications S&P 500 -6.98 5.10 6.73 10.53

T. Rowe Price Science & Technology PRSCX *** 09/30/87 -0.35 11.79 13.26 13.68 0.79 ≈ 7.90Technology S&P 500 -6.98 5.10 6.73 10.53

3/31/2020 Historical Returns (Net of Fees)

Fees (These are already included in

historical returns)

1For investments in the Vanguard Total International Stock Index Fund, the Vanguard REIT Index, the Vanguard Small Cap Index, and the Vanguard Mid Cap Index Nationwide Retirement Services charges a 30 basis point daily asset fee for its administrative services to the plan in addition to the fund fees charged by Vanguard.

Expressed as Dollars Per $1,000

Period Ending:

Page 3

AIGPh: 888.467.3726 Web: valic.com/floridadcp

Mutual Fund & Morningstar Fund Category

Ticker Symbol

5 yr Star Rating Inception Date &Benchmark 12 Mo (%) 3YR (%) 5YR (%) 10YR (%) (%)

American Century Inflation Adjusted Bond ACITX *** 02/10/97 4.62 2.34 1.91 2.80 0.47 ≈ 4.70Inflation-Protected Bond BBgBarc US Treasury US TIPS 6.85 3.46 2.67 3.48

American Century Diversified Bond ADFIX *** 12/03/01 7.18 3.70 2.61 3.49 0.60 ≈ 6.00Intermediate Core Bond BBgBarc US Agg Bond 8.93 4.82 3.36 3.88

Prudential Short Term Corporate Bond PBSMX *** 9/1/1989 -0.01 1.29 1.36 2.13 0.76 ≈ 7.60Short-Term Bond BBgBarc Credit 1-5 Yr 6.85 3.27 2.25 1.99

Franklin US Government Securities FKUSX ** 05/29/70 6.36 3.05 1.97 2.59 0.79 ≈ 7.90Intermediate Government BBgBarc US Govt Interm 8.93 4.12 2.77 2.79

American Funds American Mutual RMFEX ***** 6/27/2002 -8.69 3.09 4.86 8.85 0.63 ≈ 6.30Large Value S&P 500 -6.98 5.10 6.73 10.53

Vanguard Total Stock Market Index VSMPX *** 04/28/15 -9.22 4.00 5.75 10.10 0.02 ≈ 0.20Large Blend CRSP US Total Market -9.24 3.99 5.74 10.15

American Funds Investment Company of America RICEX *** 5/28/2002 -9.56 2.14 4.78 8.66 0.62 ≈ 6.20Large Blend S&P 500 -6.98 5.10 6.73 10.53

VALIC Socially Responsible VCSRX **** 09/21/98 -7.78 4.46 6.01 10.36 0.61 ≈ 6.10Large Blend S&P 500 -6.98 5.10 6.73 10.53

MFS Massachusetts Growth Stock MIGHX **** 4/1/2005 -2.29 10.92 9.24 11.63 0.72 ≈ 7.20Large Growth Russell 1000 Growth 0.91 11.32 10.36 12.97

Calvert Equity CSIEX **** 08/24/87 0.93 13.48 10.06 11.64 0.99 ≈ 9.90Large Growth Russell 1000 Growth 0.91 11.32 10.36 12.97

BNY Mellon MidCap Index PESPX *** 6/19/1991 -22.92 -4.57 0.08 7.36 0.50 ≈ 5.00Mid-Cap Blend S&P MidCap 400 TR -22.51 -4.09 0.56 7.88

Invesco Mid Cap Growth VGRJX *** 06/01/10 -5.07 5.95 4.39 9.36 0.82 ≈ 8.20Mid-Cap Growth Russell Mid Cap Growth -9.45 6.53 5.61 10.89

Invesco Small Cap Value VSCAX ***** 6/21/1999 -38.77 -14.86 -7.86 3.47 1.12 ≈ 11.20Small Value Russell 2000 Value -29.64 -9.51 -2.42 4.79

Invesco Small Cap Growth GTSAX *** 10/18/95 -15.84 1.39 2.80 9.72 1.18 ≈ 11.80Small Growth Russell 2000 Growth -18.58 0.10 1.70 8.89

Invesco Real Estate IARIX **** 4/30/2004 -17.04 -0.78 0.92 7.51 0.88 ≈ 8.80Real Estate FTSE Nareit All Equity REITs -21.26 -3.14 -0.35 7.40

Fidelity Advisor Technology FADTX **** 09/03/96 10.93 16.14 15.87 15.15 1.03 ≈ 10.30Technology S&P 500 -6.98 5.10 6.73 10.53

American Funds Capital Income Builder RIREX **** 5/20/2002 -8.32 0.18 1.63 5.12 0.62 ≈ 6.20

World Allocation MSCI ACWI NR -11.26 1.50 2.85 5.88

American Funds Capital World Bond RCWEX **** 08/15/02 2.36 2.66 1.81 2.28 0.85 ≈ 8.50World Bond BBgBarc Global Aggregate 4.20 3.55 2.64 2.47

American Funds EuroPacific REREX *** 6/7/2002 -13.03 -0.07 0.56 3.60 0.84 ≈ 8.40Foreign Large Growth MSCI ACWI Ex USA NR -15.14 -1.48 -0.17 2.52

Fees (These are already

included in historical returns)

Expressed as Dollars Per

$1,000

Period Ending: 3/31/2020 Historical Returns (Net of Fees)

Page 4

VOYAPh: 800.282.6295 Web: florida457.beready2retire.com

Mutual Fund & Morningstar Fund Category

Ticker Symbol 5 yr Star Rating

Inception Date &Benchmark 12 Mo (%) 3YR (%) 5YR (%) 10YR (%) (%)

VOYA Intermediate Bond IICIX **** 01/08/02 4.53 3.74 3.04 4.73 0.36 ≈ 3.60Intermediate Core-Plus Bond BBgBarc US Agg Bond 8.93 4.82 3.36 3.88

VOYA GNMA Income LEINX *** 01/07/02 5.75 3.40 2.69 3.34 0.65 ≈ 6.50Intermediate Government BBgBarc GNMA 6.83 3.82 2.78 3.32

American Funds American Balanced RLBEX ***** 06/21/02 -2.40 4.28 5.29 8.30 0.63 ≈ 6.30Allocation--50% to 70% Equity S&P 500 -6.98 5.10 6.73 10.53

Dodge and Cox Stock DODGX *** 01/04/65 -19.82 -2.52 2.65 8.09 0.52 ≈ 5.20Large Value S&P 500 -6.98 5.10 6.73 10.53

VOYA US Stock Index Portfolio INGIX **** 05/03/04 -7.21 4.83 6.43 10.23 0.27 ≈ 2.70Large Blend S&P 500 -6.98 5.10 6.73 10.53

American Funds The Growth Fund of America RGAEX *** 05/28/02 -4.43 7.17 8.01 10.63 0.66 ≈ 6.60Large Growth S&P 500 -6.98 5.10 6.73 10.53

Vanguard Mid-Cap Index2 VMCIX **** 05/21/98 -16.63 -0.25 2.10 8.87 0.24 ≈ 2.40Mid-Cap Blend CRSP US Mid Cap -16.65 -0.25 2.11 9.05

JPMorgan Mid Cap Growth JMGFX **** 11/01/11 -2.77 10.24 7.16 11.89 0.79 ≈ 7.90Mid-Cap Growth Russell Mid Cap Growth -9.45 6.53 5.61 10.89

Baron Growth Fund BGRFX *** 12/30/94 -10.51 6.74 5.40 10.43 1.29 ≈ 12.90Mid-Cap Growth Russell 2000 Growth -18.58 0.10 1.70 8.89

Vanguard Small Cap Value Index2 VSIIX **** 12/07/99 -29.59 -8.54 -2.23 5.98 0.26 ≈ 2.60Small Value CRSP US Small Cap Value -29.49 -8.38 -2.04 7.13

Loomis Sayles Small-Cap Growth LSSIX **** 12/31/96 -16.66 4.19 4.23 10.66 0.94 ≈ 9.40Small Growth Russell 2000 Growth -18.58 0.10 1.70 8.89

Dodge and Cox International Stock DODFX ** 05/01/01 -22.28 -7.42 -4.39 1.61 0.63 ≈ 6.30Foreign Large Value MSCI EAFE NR -14.38 -1.82 -0.62 2.72

MFS International Diversification MDITX **** 04/01/05 -9.77 2.74 2.74 5.00 0.86 ≈ 8.60Foreign Large Blend MSCI ACWI Ex USA NR -15.14 -1.48 -0.17 2.52

American Funds New Perspective RNPEX **** 05/28/02 -6.69 5.57 5.71 8.30 0.77 ≈ 7.70World Large Stock MSCI ACWI NR -11.26 1.50 2.85 5.88

Historical Returns (Net of Fees)

2For investments in the Vanguard Mid-Cap Index and Vanguard Small Cap Value Index, Voya charges a 20 basis point daily asset fee for its administrative services to the plan in addition to the fund fees charged by Vanguard.

Fees (These are already

included in historical returns)

Expressed as Dollars Per

$1,000

3/31/2020 Period Ending:

Page 5

3/31/2020

Ticker Symbol

5-yr Star Rating Inception Date 1YR (%) 3YR(%) 5YR(%) 10YR(%) (%)

Retirement Income Category Average -1.38 2.73 2.82 4.64Retirement Voya: Vanguard Target Retirement Income3 VTINX ***** 10/27/03 0.66 3.12 2.91 4.66 0.37 ≈ 3.70

Income Nationwide: T. Rowe Price Retirement Balanced Active Trust N/A **** 09/30/02 -3.55 2.05 2.78 n/a 0.43 ≈ 4.30

Born Target Date 2000-2010 (Born 1943-1947) Category Average -1.00 3.24 3.23 5.44

1938 Nationwide: T. Rowe Price Retirement 2005 Active Trust N/A *** 02/27/04 -3.06 2.32 2.96 n/a 0.43 ≈ 4.30

to AIG: American Funds 2010 RDATX *** 02/01/07 -1.22 2.73 3.22 5.57 0.66 ≈ 6.60

1947 Nationwide: T. Rowe Price Retirement 2010 Active Trust N/A *** 09/30/02 -3.68 2.35 3.08 n/a 0.43 ≈ 4.30

Born Target Date 2011-2015 (Born 1948-1952) Category Average -1.23 3.44 3.44 5.831948 AIG: American Funds 2015 RDBTX **** 02/01/07 -1.77 2.80 3.34 5.89 0.66 ≈ 6.60

to Voya: Vanguard Target Retirement 20153 VTXVX ***** 10/27/03 -0.40 3.37 3.31 5.77 0.38 ≈ 3.80

1952 Nationwide: T. Rowe Price Retirement 2015 Active Trust N/A *** 02/27/04 -4.50 2.48 3.28 n/a 0.43 ≈ 4.30

Born Target Date 2016-2020 (Born 1953-1957) Category Average -1.99 3.48 3.58 6.221953 AIG: American Funds 2020 RDCTX ***** 02/01/07 -1.71 3.26 3.72 6.50 0.66 ≈ 6.60

to Nationwide: T. Rowe Price Retirement 2020 Active Trust N/A *** 09/30/02 -5.66 2.57 3.48 n/a 0.43 ≈ 4.30

1957 Voya: Vanguard Target Retirement 20203 VTWNX **** 06/07/06 -2.85 3.03 3.33 6.13 0.38 ≈ 3.80

Born Target Date 2021-2025 (Born 1958-1962) Category Average -3.44 3.33 3.66 6.611958 AIG: American Funds 2025 RDDTX ***** 02/01/07 -2.28 3.66 4.12 7.26 0.68 ≈ 6.80

to Nationwide: T. Rowe Price Retirement 2025 Active Trust N/A *** 02/27/04 -7.02 2.49 3.55 n/a 0.43 ≈ 4.30

1962 Voya: Vanguard Target Retirement 20253 VTTVX **** 10/27/03 -4.55 2.81 3.35 6.38 0.38 ≈ 3.80

Born Target Date 2026-2030 (Born 1963-1967) Category Average -5.79 2.87 3.57 6.871963 AIG: American Funds 2030 RDETX ***** 02/01/07 -4.09 3.74 4.40 7.68 0.70 ≈ 7.00

to Nationwide: T. Rowe Price Retirement 2030 Active Trust N/A *** 09/30/02 -8.24 2.42 3.63 n/a 0.43 ≈ 4.30

1967 Voya: Vanguard Target Retirement 20303 VTHRX **** 06/07/06 -6.02 2.55 3.31 6.60 0.39 ≈ 3.90

Born Target Date 2031-2035 (Born 1968-1972) Category Average -8.69 2.12 3.29 6.911968 AIG: American Funds 2035 RDFTX ***** 02/01/07 -6.30 3.62 4.51 7.75 0.72 ≈ 7.20

to Nationwide: T. Rowe Price Retirement 2035 Active Trust N/A **** 02/27/04 -9.17 2.36 3.67 n/a 0.43 ≈ 4.30

1972 Voya: Vanguard Target Retirement 20353 VTTHX **** 10/27/03 -7.48 2.28 3.25 6.81 0.39 ≈ 3.90

Born Target Date 2036-2040 (Born 1973-1977) Category Average -11.16 1.36 2.93 6.781973 AIG: American Funds 2040 RDGTX ***** 02/01/07 -7.50 3.40 4.45 7.77 0.73 ≈ 7.30

to Nationwide: T. Rowe Price Retirement 2040 Active Trust N/A **** 09/30/02 -9.95 2.33 3.69 n/a 0.43 ≈ 4.30

1977 Voya: Vanguard Target Retirement 20403 VFORX **** 06/07/06 -8.97 1.98 3.18 6.91 0.39 ≈ 3.90

Born Target Date 2041-2045 (Born 1978-1982) Category Average -12.64 0.84 2.63 6.581978 AIG: American Funds 2045 RDHTX ***** 02/01/07 -7.70 3.43 4.52 7.80 0.73 ≈ 7.30

to Nationwide: T. Rowe Price Retirement 2045 Active Trust N/A **** 05/31/05 -10.71 2.15 3.62 n/a 0.43 ≈ 4.30

1982 Voya: Vanguard Target Retirement 20453 VTIVX **** 10/27/03 -10.43 1.52 2.96 6.80 0.40 ≈ 4.00

Born Target Date 2046-2050 (Born 1983-1987) Category Average -13.22 0.60 2.47 6.441983 AIG: American Funds 2050 RDITX ***** 02/01/07 -7.85 3.44 4.54 7.83 0.74 ≈ 7.40

to Nationwide: T. Rowe Price Retirement 2050 Active Trust N/A **** 12/29/06 -10.66 2.13 3.61 n/a 0.43 ≈ 4.30

1987 Voya: Vanguard Target Retirement 20503 VFIFX **** 06/07/06 -10.40 1.53 2.97 6.81 0.40 ≈ 4.00

Born Target Date 2051-2055 (Born 1988-1992) Category Average -13.45 0.48 2.38 6.311988 AIG: American Funds 2055 RDJTX ***** 02/01/10 -7.89 3.42 4.53 7.81 0.75 ≈ 7.50

to Nationwide: T. Rowe Price Retirement 2055 Active Trust N/A **** 12/29/06 -10.71 2.13 3.62 n/a 0.43 ≈ 4.30

1992 Voya: Vanguard Target Retirement 20553 VFFVX **** 08/18/10 -10.43 1.52 2.93 n/a 0.40 ≈ 4.00

Born Target Date 2060 (Born 1993-1997) Category Average -13.61 0.39 2.29 6.211993 Nationwide: T. Rowe Price Retirement 2060 Active Trust N/A **** 06/23/14 -10.67 2.10 3.62 n/a 0.43 ≈ 4.30to Voya: Vanguard Target Retirement 20603 VTTSX **** 01/19/12 -10.40 1.53 2.94 n/a 0.40 ≈ 4.00

1997

Born Target Date 2065 (Born 1998-2003) Category Average1998 Voya: Vanguard Target Retirement 20653 VLXVX n/a 07/12/17 -10.45 n/a n/a n/a 0.40 ≈ 4.00

to

20033 For investments in the Vanguard Target Retirement Funds, Voya charges a 25 basis point daily asset fee for its administrative services to the plan in addition to the fund fees charged by Vanguard. The fees reflected here

already include this additional charge.

Target Date Retirement FundsHistorical Returns

(Net of Fees)

Fees (These are already

included in historical returns)

Each Investment Provider offers a menu of Target Date Funds (TDF) used to default investment based on the participant’s age and time to retirement. These TDFs qualify under the U.S. Department

of Labor regulations as Qualified Default Investment Alternatives (QDIA) by acting as a single investment capable of meeting a participant’s long-term retirement savings needs.

Past performance does not guarantee future results.

Period EndingExpressed as

Dollars Per $1,000

Page 6

(Not to fall below 3.50%)

2nd Quarter 2020** 3.50%1st Quarter 2020** 3.50%4th Quarter 2019** 3.50%3rd Quarter 2019** 3.50%

(Not to fall below 2.00%)

2nd Quarter 2020** 2.00%1st Quarter 2020** 2.25%4th Quarter 2019** 2.25%3rd Quarter 2019** 2.25%

(Not to fall below 1.80%)*

2nd Quarter 2020** 1.80%1st Quarter 2020** 2.00%4th Quarter 2019** 2.00%3rd Quarter 2019** 2.00%

Transaction-Fee Funds

Trading Channel Fee Trading Channel Fee

Electronic $0 Electronic$49.95 per buy, $0 per sell

Broker-Assisted

$25 service charge per trade may apply

Broker-Assisted

Electronic fee, plus $25 service charge per trade

Schwab Personal Choice Retirement Account® (PCRA)On-line Brokerage Service For Broker Assistance: 1-888-393-7272 www.schwab.com

To enroll contact Nationwide Retirement Solutions at 1-800-949-4457

Fixed account returns are guaranteed for the current quarter and credited & compounded daily.

The assets in the guarantee of principal and interest accounts are backed by the financial strength of the insurance companies offering them. Additionally, the Office of Insurance Regulation analyzes the financial condition of the insurance companies on a quarterly basis.

Fees are included in the returns of the Guarantee of Principal and Interest Accounts.

Fixed Account Returns

Nationwide

AIG (formerly Valic)

Voya

Funds available through the self-directed brokerage window have not been selected through any selection process, are not monitored, require investment expertise to prudently manage and have risk of substantial losses.

There is a $25 annual fee associated with this account that is paid to Nationwide.

No-Transaction Fee (NTF) Mutual Funds (includes funds available through the Mutual Fund OneSource® Service)

$25Broker-Assisted

Other information for all Mutual Fund Transactions: Some funds may also charge sales and/or redemption fees. Please read the prospectuses for details.

EQUITIES

MUTUAL FUNDS

Schwab's PCRA currently provides access to more than 6,000 mutual funds from 400 fund families. Of the 6,000 mutual funds available, more than 3,000 are offered without loads and transaction fees as part of the Schwab Mutual Fund OneSource service, and more than 1,100 are institutional or load-waived funds. Of the 6,000 mutual funds available, approximately 1,500 are no-load funds with transaction fees, and 500 are no load, no transaction fee. For a complete listing of available products offered through Charles Schwab & Co. Inc., visit their website at www.schwab.com.

Schedule of Commissions and Transaction Fees

Commission$0

Trading ChannelElectronic

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Explanation of Morningstar Fund Categories

Mutual funds do not guarantee a rate of return, nor do they guarantee against loss of money invested. There are two things that will cause the value of a variable fund to increase: 1) the fund is paid interest and/or dividends, which is considered income, or 2) the fund sells a stock or bond at a higher price than it was purchased for, which is considered capital appreciation. Mutualfunds differ based on their investment objectives. Some funds seek as much income as possible, while others attempt toincrease their value solely through capital appreciation. Many funds attempt to increase in value through both income andcapital appreciation. Funds that look to increase in value through income have relatively stable returns (low volatility), whilefunds that seek capital appreciation have relatively unstable returns (high volatility). Listed below are definitions of variousfund objectives.

Mutual fund An investment company that pools money from shareholders and invests in a variety of securities, such as stocks, bonds and money market instruments. These funds offer investors the advantages of diversification and professional management. Large, Mid, or Small Cap Stock Fund Refers to the size of the companies in which the fund is investing. Large capitalization stocks are those companies that have a market capitalization greater than $5 billion. Mid-cap stocks have a market capitalization between $1 billion to $5 billion. Small cap stocks have a market capitalization ranging from $250 million to $1 billion. The mutual fund can also have a Value, Growth, or Blend aspect as noted below. Value fund A mutual fund that invests in companies which it determines to be undervalued. Assuming that a company's share price will not remain undervalued indefinitely, the funds look to make money by buying before the expected upturn. Value funds tend to focus on safety rather than growth, and often choose investments providing dividends as well as price appreciation. Growth fund A mutual fund whose aim is to achieve price appreciation by investing in stocks of established companies. Typically any dividends or income paid to the fund is minimal, as growth companies will retain all or most of their earnings for research and development and reinvest profits. Blend fund A mutual fund whose assets are composed of a combination of stocks, bonds, and money market securities, rather than just one or two of these asset classes (also sometimes called hybrid funds or balanced funds.) Bond fund A mutual fund that invests in bonds, typically with the objective of providing stable income through regular interest payments. Intermediate Bond fund A mutual fund that invests primarily in corporate and other investment-grade U.S. fixed-income issues. Multisector Bond fund A mutual fund that invests its assets among several fixed-income sectors, including U.S. government issues, foreign bonds, and high-yield bonds. Conservative Allocation fund A mutual fund that seeks income and capital appreciation is the secondary objective, by investing in stocks, bonds, and cash. Moderate Allocation fund A mutual fund that seeks both, capital appreciation and income by investing in stocks, bonds, and cash. Life-cycle fund A mutual fund that is designed for investors of a certain age or with a specific time horizon for investing. They offer different risk profiles that investors can shift between as their circumstance changes. Target Date fund A diverse mix of investments like stocks, bonds, cash equivalents that periodically and automatically adjust over time to grow more conservative as you near age 65. Foreign fund A mutual fund that invests in companies located outside of the United States. World fund A mutual fund that invests in companies located throughout the world, including the United States.

Page 8

Guarantee of Principal and Interest Products

A guarantee of principal and interest product guarantees a rate of return for a specified period of time, usually one quarter (three months). Fees are associated with these products and are included in the returns listed on page 7. Each Investment Provider offers a guarantee of principal and interest account. The term "guaranteed" is used to describe any product in the Plan, it refers to a guarantee made by one of the Investment Provider or its affiliated entity in the Plan, not the Deferred Compensation Plan or the State of Florida.

Historical Returns

The returns reflect historical performance and should not be considered indicative of future performance. Returns include changes in principal value, reinvested dividends, and capital gain distributions. Investment return and principal value will vary and shares may be worth more or less at redemption than at original price. Read the fund’s prospectus carefully for more information on management fees, risk, and other expenses before you enroll in a fund.

Fee

The fee of the mutual fund offered through the Investment Provider (expense for managing the fund). This fee (expense ratio) is subject to change at any time, within certain limits. The Investment Company is responsible for reporting the most recent expense ratios to the Bureau of Deferred Compensation.

A “Redemption Fee” or "Market Timing Fee" is a fee charged for selling a mutual fund too quickly after buying. A redemption fee is used to discourage the buying and selling of mutual funds frequently. It is only charged to the investor when a fund is sold within the window of time designated by the mutual fund company. Not all funds will have this fee, but it is important to review each fund’s prospectus for more information about fund redemption fees.

Page 9