Disclosure Statement

The New York State Secure Choice Savings Program (“New York Secure Choice") is an automatic enrollment payroll deduction retirement savings program overseen by the New York Secure Choice Savings Program Board (“Board”). Vestwell State Savings, LLC (“Vestwell”), is the program administrator. Vestwell and The Bank of New York are responsible for day-to-day program operations. Participants who use New York Secure Choice beneficially own and have control over their Roth Individual Retirement Accounts (“IRA”), as provided in the program offering set out at NewYorkSecureChoice.com.

New York Secure Choice offers investment options selected by the Board. For more information on New York Secure Choice investment options, go to NewYorkSecureChoice.com. Account balances in New York Secure Choice will vary with market conditions and are not guaranteed or insured by the Board, the State of New York, the Federal Deposit Insurance Corporation (“FDIC”), or any other organization.

New York Secure Choice is a completely voluntary retirement program. Saving through a Roth IRA will not be appropriate for all individuals. Employer facilitation of New York Secure Choice should not be considered an endorsement or recommendation by your employer of New York Secure Choice, Roth IRAs, or the investment options offered in the program. Roth IRAs are not exclusive to New York Secure Choice and can be obtained outside of the program and contributed to outside of payroll deduction. Contributing to a New York Secure Choice Roth IRA through payroll deduction offers some tax benefits and consequences. However, not everyone is eligible to contribute to a Roth IRA.

Vestwell does not provide legal, financial, tax, or investment advice. Program participants should consider obtaining their own appropriate professional advice if you have questions related to taxes or investments before making any decisions regarding their participation or investment in the program.