Model strategies are not managed and cannot be invested in directly. As with any type of portfolio structuring, attempting to reduce risk and increase return could, at certain times, unintentionally reduce returns. Strategic asset allocation and diversification do not assure profit or protect against loss in declining markets.

Rebalancing of portfolios may create tax consequences on the taxable portion.

For purchases over a certain minimum investment amount, other Russell Investment Company mutual funds with similar investment objectives, strategies and risks, but generally lower annual fund operating expenses, may be available. Because these other funds are different than the funds in the Conservative, Balanced, Moderate, Growth and Equity Growth Model Strategies, a transfer between them may be a taxable event. For more information on these other funds, Core Model Strategies or underlying Russell Investment Company Funds, contact your investment professional or plan administrator for assistance.

For the Conservative Strategy, Moderate Strategy, Balanced Strategy, Growth Strategy and Equity Growth Strategy, the investment objective listed became effective for this fund on August 1, 2014.

Performance is based on full investment in the model strategy. You and your financial professional may implement your investment in a different manner than the above-referenced strategy. For example, if you allocate up to 2% of your portfolio in a money market mutual fund to facilitate the payment of advisory fees and charges, your actual performance may differ. Please consult your financial professional for details on your particular investment implementation including advisory fees, charges and expenses.

For all Russell Investment Company Funds, a portion of the income and capital gains distributions made by Russell Investment Management, LLC (RIM) funds throughout a calendar year may be subject to special tax treatment at calendar year end. Such treatments may reduce taxes shareholders may experience; The after tax returns for the current calendar year are recalculated at the year end to account for this reduction and may become slightly higher than currently reported. For previous calendar years, tax reductions due to such treatments are reflected in the after tax returns of the funds.

First Used: March 2017

RIFIS 18450-MS