Market timing and excessive trading may directly impact you and other participants. Many fund companies are restricting the trading ability of participants who the fund considers to be excessive traders or market timers. Such restrictions are a result of the concern by funds that the actions of a few participants may be detrimental to the majority of participants.

The prospectus of a fund governs how the fund company manages the fund, how it must treat participants, and outlines the rights of the participants. The prospectus may set forth rules on how many trades a participant can make within a certain period of time and whether certain activity may be deemed to be damaging to the fund or its participants. Many funds, in their prospectuses, retain the right to determine what constitutes excessive trading or market timing and the ability to take action to restrain such activity.

To address market timing and excessive trading, Great-West Retirement Services^® has developed procedures to follow when a fund suspects market timing or excessive trading has occurred. Under our current procedures, if contacted by a fund that suspects a participant is engaging in excessive trading or market timing, we provide the fund with the recent trading activity of the participant. Such information is confidential. If the fund determines that such activity is excessive trading or market timing, we notify the participant and the appropriate entity that administers that participant's plan. The plan then selects a trading restriction that will apply. The restriction may take the form of limiting trades within a certain time period or prohibiting use of the web or KeyTalk^® to implement trades.

Again, the decision is made by the fund company under the terms of its prospectus and disclosure documents. Great-West Retirement Services^® is the service provider for your plan and acts at the direction of the entity that administers your plan and the funds. If you have any concern about your trading activities, you may want to review the prospectuses of the funds offered by your plan.