Beginning on September 26, 2018, Voya Retirement Insurance and Annuity Company*, a member of the Voya® family of companies, will replace the current record keepers for the Washington County Deferred

Compensation Plan. Consolidating to this single record keeper will reduce overall fees and administrative costs to plan participants while continuing to provide a full array of investment options and quality of service to help you prepare for your future financial and retirement goals.

Voya is proud to provide retirement plan investments and services to employees of Washington County. Be sure to read this newsletter and accompanying information carefully. We look forward to working with you to help you plan for your financial future.

* Voya Financial (NYSE: VOYA) is a premier retirement, investment and insurance company servicing the financial needs of approximately 13 million individual and institutional customers throughout the United States. Voya Retirement Insurance and Annuity Company(VRIAC), will be the Plan’s recordkeeper, investment and service provider.

Washington County Deferred Compensation Plan

What’s changing? Throughout this newsletter, changes to the Washington County Deferred Compensation Plan will be covered. Not only does the Plan offer new investment options, but this newsletter will also inform you of tools, services and resources available to you.

When will the change occur?The change will take place on Wednesday, September 26, 2018.

Read about:• Investment options – what’s changing• Fees and expenses• What else do you need to know?• Tools and resources• Planning ahead• Who to contact

Changes are coming to your employer’s

retirement plan

With a focus on providing a diverse selection of quality funds and lower overall participant costs, a new investment option line-up will be available on September 26. The new investments include a variety of well-known fund families and are thoughtfully designed to accommodate varying risk tolerance levels and asset diversification goals.

This revised menu will offer the JPMCB SmartRetirement® Passive Blend Funds which provide a pre-determined mix of investment options based on a specific target date for retirement or the date the investor plans to start withdrawing money. Investors can select the fund that corresponds to their target date. These funds are designed to rebalance to a more conservative approach as the date nears. An investment in a target date retirement fund is not guaranteed at any time, including on or after the target date.

A new credited fixed interest account, the Voya Fixed Account 457/401 II, will be offered through a group fixed annuity contract. Guarantees are based on the claims-paying ability of Voya Retirement Insurance and Annuity Company and do not apply to the investment return or principal value of the mutual funds under a custodial or trust agreement.

Important note: Voya will credit interest to the Voya Fixed Account 457/401 II of at least 2.25% through September 2019, at least 2.00% through September 2020. The crediting interest rate thereafter will be that of the prevailing interest rate, currently 1.75% as of June 30, 2018, but not less than 1.00% which is the new guaranteed minimum interest rate for the life of this contract.

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Investment options – what’s changing

Important Information for participants with accounts at EmpowerIf you have an account balance in the Great-West Daily Interest Guarantee Fund I & II, the Great-West Guaranteed Certificate Fund and/or the Great-West Guaranteed Fixed Fund:The County’s contract with Empower contains restrictions that will not allow your account balance in these investments to transfer automatically in September. Ongoing contributions currently directed to these funds, however, will be mapped to the Voya Fixed Account - 457/401 II and invested at Voya beginning in late-September 2018.

With respect to the assets already invested in these funds and not transferring to Voya, you will receive separate quarterly statements from Empower that reflect your ongoing account value. Permissible withdrawals and distribution requests will continue to be available from these assets, subject to the Plan’s established eligibility guidelines. You will no longer have the option to invest in mutual funds at Empower. Despite the Empower contract transfer restriction, these investments will also be subject to the blackout disclosed elsewhere in this newsletter.

Voluntary Option to Transfer the Great-West Daily Interest Guarantee Fund, the Great-West Guaranteed Certificate Fund and/or the Great-West Guaranteed Fixed Fund Empower permits participants to voluntarily transfer their account balance from any of these funds to other investments currently offered by the Plan. These other investments will automatically transfer to Voya in September as described in this newsletter. If you are interested in having your entire Plan account balance automatically transferred and invested with Voya in September, you must direct Empower to move assets from each of these three funds no later than the close of the NYSE on September 13, 2018*.

* The Great-West Guaranteed Certificate Fund is subject to a general restriction on participant requested transfers until certificate maturity. If you are invested in this fund, you may have to wait for this maturity date before you can submit any voluntary transfer requests to Empower.

Voluntary transfers of these investments to Voya after the Plan transition ends may also be an option for you. Contact Empower for more information or assistance. Before making any decision, you should consider all the investment options available to you under the Plan, based on your personal situation and risk tolerance.

Great-West Guaranteed Government Fund and Guaranteed Interest FundThe Great-West Guaranteed Government Fund and the Guaranteed Interest Fund are not subject to the same Empower contract restrictions as noted above. Your account balances in these two funds will automatically transfer to Voya in September.

Have Questions? Need Some Help? Dawn Depner, Voya’s local representative, is available to assist. Please contact Dawn’s office in Portland at (503) 517-9363. Additional contact information is available on page 6 of this newsletter.

Investment adviser representative and registered representative of, and securities and investment advisory services offered through, Voya Financial Advisors, Inc. (member SIPC).

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Day Date Time Location Conference Room

Wednesday 8/15/18 1:00 - 2:15 pm2:45 - 4:00 pm

Blanton Street Conference Room 102

Friday 8/17/18 8:30 - 9:30 am 10:15 - 11:15 am12:30 - 1:45 pm3:00 - 4:15 pm

Washington Street Conference Center Conference Rooms 103 & 109

Tuesday 8/21/18 4:00 - 5:00 pm5:30 - 6:30 pm7:00 - 8:00 pm

Public Service Building Auditorium

Thursday 8/23/18 12:00 - 1:30 pm 1:45 - 3:00 pm

Sheriff’s Office Training Room A

Tuesday 8/28/18 8:30 - 9:30 am10:15 - 11:15 am12:30 - 1:45 pm3:00 - 4:15 pm

Washington Street Conference Center Conference Rooms 103 & 109

Wednesday 8/29/18 8:30 - 9:30 am 10:15 - 11:15 am12:15 - 1:15 pm

Murray - Service Center East Conference Room 195

Thursday 8/30/18 10:00 - 11:00 am11:30 - 12:30 pm2:30 - 3:30 pm

Elam Young Conference Room 40

Wednesday 9/5/18 12:00 - 1:15 pm2:00 - 3:15 pm4:00 - 5:15 pm

Elam Young Conference Room 40

Wednesday 9/5/18 8:30 - 9:30 am 10:00 - 11:15 am

Walnut Street Training Rooms 2 & 3

Thursday 9/6/18 2:00 - 3:15 pm3:45 - 5:00 pm

Blanton Street Conference Room 102

Monday 9/10/18 8:30 - 9:30 am 10:15 - 11:15 am12:30 - 1:45 pm3:00 - 4:15 pm

Washington Street Conference Center Conference Rooms 103 & 109

Tuesday 9/11/18 5:30 - 6:30 pm7:00 - 8:00 pm

Public Service Building Auditorium

Tuesday 9/11/18 1:00 - 2:15 pm2:45 - 4:00 pm4:15 - 5:15 pm

Walnut Street Training Rooms 2 & 3

Wednesday 9/12/18 8:30 - 9:30 am 10:15 - 11:15 am12:30 - 1:45 pm2:00 - 3:15 pm3:45 - 5:00 pm

Washington Street Conference Center Conference Rooms 103 & 109

Thursday 9/13/18 3:00 - 4:15 pm5:00 - 6:00 pm

Sheriff’s Office Training Room A

Learn more about the Plan transition Attend an informational transition meeting and we’ll be happy to answer any questions you may have. We appreciate the trust and confidence you have placed in Voya and we look forward to working with you and helping you plan for your financial future. Transition meeting schedule:

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Expenses and fee transparencyUnderstanding fees and expenses of your retirement investments is important, but sometimes it can be complicated too!

Investment, record keeping and administrative service fees will continue to apply to your account after the transition to Voya. Today, expenses are often not disclosed to you as a separate deduction on your quarterly account statements, which may make you think you are not being charged any fees. The good news is that the overall cost to you to participate in the Plan is being reduced with the transition to Voya.

Investment Expenses

Fund management fees are expressed as a percentage, known as an expense ratio. The expense ratio is what an investment company charges to invest in a fund. This amount is taken out of the fund’s assets and can lower the return to a fund’s investors. Fund management fees and operating expenses are retained by the fund companies and vary by fund. Fund-specific fees and expenses will not appear on your quarterly statements because they are collected by the fund companies and reflected in each fund’s daily net share price. Please refer to the individual fund prospectuses for fund fee information.

Fees for Administration by Voya

Without full administrative fee transparency, you may be under the impression that your overall cost to participate right now is lower than it actually is. In an effort to provide greater fee and expense transparency to you, Voya will deduct all recordkeeping and administrative service fees as a separate line item on your account. With the Plan’s increased fee transparency you will know exactly what you are being charged for Voya’s services. Perhaps more important, Voya will collect the same fees regardless of the investment options you select.

Starting in December 2018, Voya will deduct an annualized asset-based fee of 0.06% from your account on a quarterly basis. This is the total fee for Voya’s recordkeeping services and, as noted above, is a reduction in the overall fees you are charged today. The administration fee equates to $1.50 per quarter for every $10,000 in assets, which is extremely low compared to other record keepers.

Don’t forget. Individual mutual fund fees will still apply based upon your selected investments.

What else do you need to know? Is my money still invested during the conversion period? Will I be out of the market?

Participants will be out of the market for a brief period of time during the blackout period mentioned on the back cover of this brochure. Your account balance will remain with ICMA Retirement Corporation, Empower and/or AXA until the liquidation date, anticipated to be Thursday, September 20, 2018. On the transfer date, expected to be Friday, September 21, 2018, when assets are transferred to Voya, your balance will be reinvested into the new funds as illustrated on the enclosed mapping charts. Assuming a transfer date of Friday, September 21, 2018 as expected, the balance of your transferred account will not be invested for one business day.

Mapping is a dollar-for-dollar process. If the price of the current investment option is different from the price of the new option, this will result in a different number of units. The dollar value of your account remains the same. For example, if your Plan account balance with ICMA Retirement Corporation on September 20 is $10,000, your initial account balance invested with Voya on September 21 will be $10,000.

The liquidation and mapping processes are designed to preserve the dollar amount of your account, not the number of units (or shares) of specific funds. If the market is down when the transfer occurs and unit prices of the funds being liquidated are lower, liquidation will result in the sale at the lower price.

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Secure access to your new account with Voya

Following the completion of the transition to Voya, you will receive a unique personal identification number (PIN). In an effort to maintain the highest level of account security for you and the Plan, this random PIN will be sent to you via USPS in a tamper-proof envelope. Use this PIN to register and access your account online through the Plan’s website at washingtonco.beready2retire.com. The online registration process will require you to change your PIN in addition to establishing a unique User ID. If you prefer, you can also access your account through Voya’s toll-free customer service at (800) 584-6001.

Account access is sometimes available sooner than anticipated, though your initial PIN will take time to deliver by mail. You do not have to wait to receive the random PIN letter in order to access your account. The following options are available to expedite the registration and/or basic account access following the completion of the transition.

Use your Washington County email address to request a one-time random PIN. Go to washingtonco.beready2retire.com\Register Now and follow the prompts.

Contact Voya customer service for assistance with your account. Voya is able to provide account balances, process fund transfers and allocation changes. Please note that for the security of your account, certain transactions cannot be requested over the phone without your PIN. These include withdrawals/distributions, address updates or beneficiary changes.

Beneficiary information

Beneficiary designations are anticipated to automatically transfer to your new plan account. Beginning September 26, you can confirm your beneficiary designation by contacting Voya at (800) 584-6001 or access your account online at washingtonco.beready2retire.com. If you’d like to make changes to your designation, simply log in to your account, go to My Account > Add/Edit Beneficiary and follow the navigation instructions provided on the website.

Confirmation of activity

Shortly after the transition, Voya will mail a confirmation statement notifying you that the transition process to your new Plan account is complete, and confirming each of the investment options to which amounts were transferred.

Automatic rebalancing feature

Due to the change in the investments offered by the Plan, any current election to automatically rebalance your account will not transfer to Voya. On or after September 26, you can access your Plan account with Voya to re-establish this feature.

Installment payments

If you are receiving installment payments from ICMA Retirement Corporation, Empower and AXA, those payments will continue through September 2018, though you may be paid earlier than normally scheduled to avoid the blackout period. Voya will begin processing all payments as of October 1, 2018. The specifics of your payment, including tax withholding and electronic banking information (as applicable), transfer automatically. No action by you is needed.

Post-transition, all installment payments will default into the following schedule:

Current installment payment dates

>New payment dates at Voya

1st through the 15th of each month

>the 1st business day of each month

16th through the last day of the month

>the 16th or next business day of each month

Scheduled Required Minimum Distributions:

If your payment is arranged to satisfy only your Required Minimum Distribution, these are only processed by Voya on the 15th of each month.

06 I

Our commitment to youAs part of the Washington County Deferred Compensation Plan, you have access to a representative who can help you with your retirement strategy. Your representative is available to assist you with a variety of services designed to help you review your specific situation and develop a plan that helps you meet your retirement plan objectives.

Ongoing support includes:• Individual meetings held Washington County locations• Group enrollment and educational meetings• Hypothetical retirement/payout illustrations• Educational investment, financial and retirement

planning seminars covering a variety of topics

Investment Advisor Representative and Registered Representative of, and securities and investment advisory services offered through Voya Financial Advisors, Inc. (member SIPC)

Telephone: Dawn Depner (503) 517-9363 dawn.depner@voyafa.com

Office Address: Voya Financial Advisors, Inc. 5331 Macadam Ave, Suite 365 Portland, OR 97239

Office Hours: Monday - Friday 8:00 am to 5:00 pm PT Individual meetings by appointment.

New tools and resourcesAccess a powerful array of tools, educational materials, calculators and other resources to help you make smart decisions about saving for the future at washingtonco.beready2retire.com.

No more forms!

Beginning September 26, you will submit changes to your payroll deferral amount to the Plan either online or by phone directly with Voya. Voya will provide this information on a regular basis to the County. A confirmation will also be provided to you for your records.

Experience myOrangeMoney® today! Whether you’re online or on the go, myOrangeMoney is here to help you stay on track to meet your retirement savings goals. Check out myOrangeMoney today!

Download the free Voya Retire app from the App Store or Google Play (keyword: retire).

iPhone and the App Store are trademarks of Apple Inc., registered in the U.S. and other countries. Android and Google Play is a trademark of Google Inc.

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Key transition datesDuring the transition, we’ll do most of the work for you. But here are a few things to keep in mind and key dates to remember. Including a period of time where account access is restricted, also called the “blackout period.”

ICMA RC and Empower Participants*: September 13

AXA Participants*: September 20

Last day to make investment changes or transfers between funds. Blackout begins and account access is restricted at the close of the NYSE (generally 1:00 pm Pacific Time).

ICMA RC and Empower Participants: September 26

AXA Participants: September 26

Blackout period ends. Full account access is restored. You can complete transactions through the Plan website at washingtonco.beready2retire.com or by calling the Retirement Readiness Service Center at (800) 584-6001.

Voya.com

For more information, you can contact your local representative:

Voya Financial Advisors, Inc. 5331 Macadam Ave, Suite 365Portland, OR 97239

Dawn Depner(503) 517-9363

You should consider the investment objectives, risks, and charges and expenses of the mutual funds offered through a retirement plan, carefully before investing. The fund prospectuses and information booklet containing this and other information can be obtained by contacting your local representative. Please read the information carefully before investing.* Massachusetts Mutual Financial Group, ICMA Retirement Corporation, Empower and AXA are separate entities and are not corporate affiliates of Voya Financial.

Mutual funds within the retirement program are considered long-term investments designed for retirement purposes. Money distributed will be taxed as ordinary income in the year the money is received. Account values fluctuate with market conditions and, when surrendered, the principal may be worth more or less than its original amount invested. A group fixed annuity is an insurance contract designed for investing for retirement purposes. The guarantee of the fixed account is based on the claims-paying ability of the issuing insurance company. Although it is possible to have guaranteed income for life with a fixed annuity, there is no assurance that this income will keep up with inflation. An annuity does not provide any additional tax deferral benefit; tax deferral is provided by the plan. Annuities may be subject to additional fees and expenses to which other tax-qualified funding vehicles may not be subject. However, an annuity does offer other features and benefits, such as lifetime income payments and death benefits, which may be valuable to you.

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

Insurance products, annuities and retirement plan funding issued by (third party administrative services may also be provided by) Voya Retirement Insurance and Annuity Company (“VRIAC”), Windsor, CT. VRIAC is solely responsible for its own financial condition and contractual obligations. Plan administrative services provided by VRIAC or Voya Institutional Plan Services LLC (“VIPS”). VIPS does not engage in the sale or solicitation of securities. All companies are members of the Voya® family of companies. Securities distributed by Voya Financial Partners LLC (member SIPC) or third parties with which it has a selling agreement. Custodial account agreements or trust agreements are provided by Voya Institutional Trust Company. All products and services may not be available in all states.

202374 3053241.G.P © 2018 Voya Services Company. All rights reserved. CN0813-44211-0919D

Just a reminderICMA RC and Empower will provide inquiry access to accounts beginning Sept. 13. You will not, however, be able to transact in your account with either firm.

From the close of business on Sept. 20, you will have no access to accounts with any firm until the transition completes.

Limits on Frequent or Disruptive Transfers. Voya has an Excessive Trading Policy and monitors transfer activity and will restrict transfers that constitute frequent trading. Our current definition of frequent trading is more than one purchase, and sale of the same fund within a 60 day period. We may modify our general standard, or the standard as it may apply to a particular fund, at any time without prior notice. Each underlying fund available through the contract has adopted or may adopt its own excessive/frequent trading policy.

Voya is committed to protecting the privacy and confidentiality of your personal information. Beginning September 26, learn more about both our Excessive Trading Policy and the Voya Privacy Notice by accessing your account online at washingtonco.beready2retire.com or call 800-584-6001.