Plastic Ingenuity, Inc. Profit Sharing and Savings Plan
Use this road map to help start Your Journey
GETTING STARTED IS AS EASY AS 1-2-3 page 2
THE MORE YOU SAVE, THE MORE YOU SAVE IN TAXES
Find out more on page 2
MAXIMIZE YOUR OPPORTUNITIES REVIEW THE PLAN HIGHLIGHTS pages 2-3
WHAT’S YOUR STYLE? FIND THE RIGHT SOLUTION page 4
Getting started is as easy as 1-2-3...
Step 1: Go to newportgroup.com
Step 2: Enter your Social Security Number as your user name, followed by the A few BIG REASONS numeric month-month, year-year format of your date of birth as your to join your plan password. For example, if your date of birth is April 1975, you would enter 0475.
TAX ADVANTAGES: You can save up to 100% of your salary on a pre-tax or Roth after Step 3: tax basis (up to a maximum of $18,000). Pre-tax savings in the plan lowers your taxable income which means you pay less in After you log in, you can easily view or taxes now. Income taxes are paid on contributions and earnings at manage your account in just a few the time of distribution. Unlike pre-tax contributions, qualified clicks. distributions from Roth savings are not subject to income tax.
Employee Catch-Up Contributions in addition to the maximum set by the IRS are allowed for Participants age 50 and over ($6,000). It’s just THE POWER OF STARTING EARLY: The sooner you start, the more your retirement savings will that simple! accumulate over time. See the bottom of page 3 for an example of how this works.
EMPLOYER CONTRIBUTIONS: Plastic Ingenuity, Inc. gives you free money. They will make a safe harbor profit sharing contribution equal to 3% of your 888-401-5488 newportgroup.com compensation, once you meet the eligibility requirement.
They may also make a discretionary profit sharing contribution (determined each year). Participants must complete 1,000 Hours You can also contact the investment of Service and be employed on the last day of the plan year to be advisor for the plan at: eligible to share in any profit sharing contribution for that year.
MONEY FOR RETIREMENT: Any money you save and accumulate goes directly to your paycheck in retirement. That’s important since Social Security may not be enough for most people. 1-866-232-6457 www.francisinvco.com The Road to Retirement might seem long, but knowing these facts will help you find your way.
PLAN ELIGIBILITY AND ENTRY: minimum loan amount of $1,000. Loan applications can be You are able to make 401(k) deferrals into the plan as of made by contacting the human resources department. the first of the quarter following 3 months of service. WITHDRAWALS WHILE YOU’RE EMPLOYED: You are eligible to receive employer profit sharing Allowed from Employer Contribution Account once every 5 contributions as of the first day of the plan year after you years. The distribution must be at least $1,000 and cannot complete 1 year of service in which you work 1,000 hours. exceed 50% of the amount the participant would be entitled Eligible employees will automatically be enrolled with a to receive in the event of termination of employment on the 3% pre-tax deferral unless they elect a different date of the request. A pre-termination distribution must be percentage or elect not to participate. All of your for one of the following purposes: purchasing your principal contributions will go directly into the age-appropriate residence, college education expenses, payment of Target Date Retirement Fund unless you choose your extraordinary medical expenses incurred by the participant own investment elections. or a member of his or her immediate family. Contributions made in the last two Plan Years prior to distribution are not FUTURE CHANGES: eligible for distribution. Distributions are subject to income Even after you’ve selected your initial contribution rate and tax and a tax penalty of 10% (if received prior to age 59½). investments, you may make changes to either of these at any point in the future. WITHDRAWALS AFTER EMPLOYMENT HAS ENDED: 401(k) - Your vested account balance will be paid to you as VESTING: soon as administratively feasible following your termination You are always 100% vested in your employee of employment. In the event of your death, your account contributions, safe harbor profit sharing contributions, balance will be paid to your beneficiary. rollover contributions, and investment earnings from those Profit Sharing - Your vested account balance will be paid contributions. After 6 years of service, you are 100% to you as soon as administratively feasible after the final vested in any non-safe harbor profit sharing contributions. valuation date in the Plan Year in which you first have a 1 The 6-year vesting schedule is as follows: year break in service. If you have attained age 60 prior to Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 termination of employment, distribution shall be made as 0% 20% 40% 60% 80% 100% soon as feasible after the final valuation date in the Plan Year in which you terminate employment. In the event of INVESTMENT OPTIONS: your death or disability, your account balance will be paid You decide where to invest your contributions. A complete as soon as feasible after the first valuation date in which list of investment options is accessible on the Committee becomes aware of the death or disability. newportgroup.com. To assist you in making your investments decision, target date retirement funds are also TRANSFERRING MONEY INTO YOUR ACCOUNT: available. See page 4 for help determining which If you hold other retirement accounts, you are able to investment portfolio may be right for you. transfer the funds into this plan. The process is called a “rollover.” Account types eligible for rollovers include BORROWING FROM YOUR ACCOUNT: 401(k) plans, most 403(b) and 457 plans, and, under You may take a loan from your account. However, doing so certain circumstances, IRAs. Please consult with a financial could result in reduced performance, increased income advisor who can assist you in making the right decision for taxation, and fees. Two loans are permitted at a time with a your situation.
How much mileage will you get out of your retirement account? Nathan and Karrie are the same age. Nathan started saving $2,000 a year from age 25 through 35, and then stopped. Karrie, Karrie $247,000 started saving $2,000 a year at age 35 until she was age 65.
Nathan $335,000 If both accounts earn an average of 8% a year, at age 65, Nathan will have $335,000 in his account, but he will have contributed only $22,000 ($2,000 per year for 11 years). Karrie will have $0 $100,000 $200,000 $300,000 $247,000 in her account, based on her total contribution of $62,000 ($2,000 per year for 31 years, but starting at a later age). Before-Tax Contributions Total Savings Fuel up your retirement savings early. Get started today! For illustrative purposes only.
A Simple Way to Invest
T.Rowe Price Target Retirement Funds
Certain aspects of saving for In other words, the professionals retirement may seem complicated, who manage these funds such as reviewing, monitoring, and allocate your money to more selecting the right investments. aggressive investment options Let’s face it…you want to earn (increasing your potential for enough from your investments to greater returns) when you’re outpace inflation and experience further away from retirement. growth of your retirement savings. Then, they’ll reallocate the Nearly However, the thought of losing investments to more conservative 60% money that’s earmarked for your options (giving you greater of those between the golden years doesn’t sound very stability and consistency) as appealing. How do you balance your target retirement ages of 55 and 65 investment growth with the date approaches. feel that investing in appropriate level of risk? Just pick the fund near the target date funds Consider a T.Rowe Price Target year that you want to retire, would have helped Retirement Fund. Target date and the managers make all of retirement funds, such as these, the decisions about asset increase their nest are designed to make investing for allocation. Refer to the table eggs.* retirement more convenient—by below for assistance in picking automatically changing your the right fund. investment mix over time. *From the American Century Investments study, “Through the Rearview Mirror.”2013.
Which fund may be right for you?
If you were born: Consider the:
1948 or before T.Rowe Price Retirement 2010 Fund 1949 – 1952 T.Rowe Price Retirement 2015 Fund 1953 ‒ 1957 T.Rowe Price Retirement 2020 Fund 1958 ‒ 1962 T.Rowe Price Retirement 2025 Fund Simply select one of these 1963 ‒ 1967 T.Rowe Price Retirement 2030 Fund pre-mixed investment options when 1968 – 1972 T.Rowe Price Retirement 2035 Fund enrolling in the plan. 1973 – 1977 T.Rowe Price Retirement 2040 Fund 1978 – 1982 T.Rowe Price Retirement 2045 Fund 1983 – 1987 T.Rowe Price Retirement 2050 Fund 1988 – 1992 T.Rowe Price Retirement 2055 Fund 1993 and after T.Rowe Price Retirement 2060 Fund
If you want more options... LEARN MORE than the T.Rowe Price Target Retirement Funds, the Plastic Ingenuity, Inc. Visit newportgroup.com Profit Sharing & Savings Plan offers a diverse range of additional investment and click on My Plans options. More information can be found on www.newportgroup.com or by then Investments. contacting the Participant Service Center at 888-401-5488. You may also contact the plan’s investment advisor, Francis Investment Counsel at 866-232-6457 or online at www.francisinvco.com. Please refer to your Summary Plan Description for additional information.
November, 2016
Dear Participant:
Saving is important to a secure future. Plastic Ingenuity, Inc has chosen to sponsor the Plastic Ingenuity, Inc. Profit Sharing and Savings Plan (401(k) Safe Harbor Account) (“Plan”) to help you save and invest toward a financially stable retirement.
The Plan provides several investment options that you can choose from, based on your personal financial goals. For many participants, the process of choosing among the many options can be a challenge. We prepared the enclosed notice to help you manage your account in terms that are simple to understand.
The first part of the notice describes how to manage your account. The second part contains information on the Plan’s investment options. The notice also explains the expenses you may incur.
We will send you an updated notice every year. You may also see the current performance of your investments and obtain additional information about the Plan’s investment options at newportgroup.com.
If you have further questions about your account, please call the Participant Service Center at (888) 401-5488. We are available to help you Monday through Friday from 8:30am to 8:00pm ET.
Plastic Ingenuity, Inc. Profit Sharing and Savings Plan (401(k) Safe Harbor Account) Annual Retirement Plan Disclosure Notice
November, 2016
A secure retirement depends on how much you save and how you choose to invest your savings. Your employer established the Plastic Ingenuity, Inc. Profit Sharing and Savings Plan (401(k) Safe Harbor Account) (“Plan”) to make it easier for you to save and invest. This notice will detail the fees and expenses that may be applied to your account.
You may change how much you save by increasing or decreasing your deferral election. You may also change how your savings are invested by logging on to newportgroup.com or by calling us at (888) 401-5488 during business hours, Monday through Friday from 8:30am to 8:00pm ET to review your investment options.
PART I: RULES FOR DEFERRALS, INVESTMENTS AND TRANSFERS
You may make or change a deferral election any time. You may make or change an investment election for future contributions to your account or transfer from one investment fund to another at any time. If you do not make an investment election, your deferrals will be invested as indicated in the table below. See Part II, Investments, for further information.
If you were Born You Will Default Into the Following Fund
Prior to 1948 T Rowe Price Retirement 2010 Between 1948 and 1952 T Rowe Price Retirement 2015 Between 1953 and 1957 T Rowe Price Retirement 2020 Between 1958 and 1962 T Rowe Price Retirement 2025 Between 1963 and 1967 T Rowe Price Retirement 2030 Between 1968 and 1972 T Rowe Price Retirement 2035 Between 1973 and 1977 T Rowe Price Retirement 2040 Between 1978 and 1982 T Rowe Price Retirement 2045 Between 1983 and 1987 T Rowe Price Retirement 2050 Between 1988 and 1992 T Rowe Price Retirement 2055 After 1992 T Rowe Price Retirement 2060
Some funds impose restrictions on frequent trading, or other transfer restrictions. These restrictions are described further in the Investments section of this notice. Transfer requests submitted by 4:00 p.m. on days when the major stock exchanges are open for business will be reflected in your account based on the value of the investment options you select at market close (4:00 p.m. Eastern Time). Transfers requested after 4:00 p.m., on the weekends or on holidays will be reflected based on the value of investment options as of the close of the next trading day.
Voting Rights: Voting rights on shareholder matters affecting mutual fund owners are retained by the trustee or the named fiduciary to the Plan. See your summary plan description for further details.
PART II: INVESTMENT PERFORMANCE
You are responsible for making and monitoring the investments in your account. (The Plan is intended to meet the rules of ERISA Section 404(c).) This section of the notice will help you compare the investment options available to you. You may find additional information such as prospectuses, updated performance information and expense information at newportgroup.com, or for a free paper copy of the information you can call (888) 401-5488.
Understanding Performance Information
The Variable Return Investments table below focuses on investment options that do not have a fixed or stated rate of return. The chart shows how the funds have performed over time and allows you to compare them with an appropriate benchmark for the same time periods.
Past performance does not guarantee how the investment option will perform in the future. Your investment in these options could lose money. Information about an investment option’s principal risks is available on newportgroup.com under “Investments”.
A “benchmark” is an index based on the investment performance of a group of stocks or bonds that represent a certain investment classification. For example, the Dow Jones Industrial Average is an index showing the investment performance of 30 large company stocks. The benchmark for a fund offered under the Plan helps measure how well the fund is performing. Note that a “benchmark” is not a mutual fund that you can purchase through the plan.
For additional investment information please visit : www.newportgroup.com
Variable Return Investments
Performance as of 09/30/2016
Investment Average Annual Total Return Since Name of Fund 1 yr. 5 yr. 10 yr. Inception
LIFECYCLE PORTFOLIO - INCOME T. Rowe Price Retirement Balanced Instl (TRPTX) (9/29/2015) 8.70% N/A N/A 9.63% Target Date - Income Manager Universe Median 7.16% 5.37% 4.11% N/A LIFECYCLE PORTFOLIO - 2010-2015** T. Rowe Price Retirement 2010 Instl (TRPAX) (9/29/2015) 10.06% N/A N/A 11.00% T. Rowe Price Retirement 2015 Instl (TRFGX) (9/29/2015) 10.55% N/A N/A 11.71% Target Date - 2010-2015 Manager Universe Median 8.25% 7.55% 4.21% N/A
LIFECYCLE PORTFOLIO - 2020-2025** T. Rowe Price Retirement 2020 Instl (TRBRX) (9/29/2015) 11.23% N/A N/A 12.62% T. Rowe Price Retirement 2025 Instl (TRPHX) (9/29/2015) 11.71% N/A N/A 13.32% Target Date - 2020-2025 Manager Universe Median 8.95% 8.50% 4.39% N/A
LIFECYCLE PORTFOLIO - 2030-2035** T. Rowe Price Retirement 2030 Instl (TRPCX) (9/29/2015) 12.00% N/A N/A 13.73% T. Rowe Price Retirement 2035 Instl (TRPJX) (9/29/2015) 12.18% N/A N/A 14.12% Target Date - 2030-2035 Manager Universe Median 10.49% 10.16% 4.52% N/A
Investment Average Annual Total Return Since Name of Fund 1 yr. 5 yr. 10 yr. Inception
LIFECYCLE PORTFOLIO - 2040-LATER** T. Rowe Price Retirement 2040 Instl (TRPDX) (9/29/2015) 12.37% N/A N/A 14.43% T. Rowe Price Retirement 2045 Instl (TRPKX) (9/29/2015) 12.37% N/A N/A 14.43% T. Rowe Price Retirement 2050 Instl (TRPMX) (9/29/2015) 12.37% N/A N/A 14.43% T. Rowe Price Retirement 2055 Instl (TRPNX) (9/29/2015) 12.17% N/A N/A 14.23% T. Rowe Price Retirement 2060 Instl (TRPLX) (9/29/2015) 11.98% N/A N/A 14.04% Target Date - 2040-later Manager Universe Median 11.44% 11.22% 4.64% N/A
STABLE VALUE Morley Stable Value 25 1.44% 1.25% 2.23% 3.99% 3 Month T-Bill Index 0.24% 0.09% 0.76% N/A
INTERMEDIATE TERM BOND INDEX (FREE FLOAT) Vanguard Total Bond Market Index Instl (VBTIX) (9/18/1995) 5.32% 3.01% 4.80% 5.50% Barclays Spliced U.S. Aggregate Float Adjusted Index 5.34% 3.11% 4.81% N/A
INFLATION-LINKED BOND Dfa Inflation-Protected Securities I (DIPSX) (9/18/2006) 6.67% 2.00% 4.71% 4.79% Barclays U.S. TIPS Index 6.58% 1.93% 4.48% N/A
EMERGING MARKETS LOCAL DEBT Mfs Series Trust X: Mfs Emerging Markets Debt Fund; Class R5 14.34% 6.87% 7.38% 7.45% Shares (MEDHX) (5/1/2006) JPM Gov Bond-EM Global Diversified (Unhedged) 17.05% 0.06% 5.51% N/A
TOTAL MARKET INDEX CRSP - VANGUARD Vanguard Total Stock Market Index Adm (VTSAX) (11/13/2000) 14.98% 16.33% 7.53% 5.68% Vanguard Spliced Total Market Index CRSP 14.99% 16.34% 7.53% N/A
LARGE GROWTH Vanguard Growth Index Adm (VIGAX) (11/13/2000) 13.51% 16.54% 8.80% 4.77% Russell 1000 Growth Index 13.76% 16.60% 8.85% N/A
MID VALUE Fmi Large Cap Fund (FMIHX) (12/31/2001) 12.36% 14.57% 7.71% 8.50% Jpmorgan Mid Cap Value Instl (FLMVX) (11/13/1997) 13.65% 17.39% 8.71% 12.76% Russell Midcap Value Index 17.26% 17.38% 7.89% N/A
MID GROWTH Goldman Sachs Growth Opportunities Instl (GGOIX) (5/24/1999) 7.18% 14.82% 9.32% 10.79% Russell Midcap Growth Index 11.24% 15.85% 8.51% N/A
SMALL VALUE Westcore Small-Cap Value Dividend Instl (WISVX) (9/28/2007) 14.25% 13.81% 6.31% 5.11% Russell 2000 Value Index 18.81% 15.45% 5.78% N/A
SMALL GROWTH Voya Smallcap Opportunities Fund Class R6 (ISOZX) (5/31/2013) 15.93% 16.27% 9.22% 9.75% Russell 2000 Growth Index 12.12% 16.15% 8.29% N/A
INTERNATIONAL EQUITY American Funds Europacific Growth R6 (RERGX) (5/1/2009) 8.52% 9.11% 4.19% 9.18% MSCI All Country World ex-U.S. Index 9.26% 6.04% 2.16% N/A
INTERNATIONAL SMALL/MID CAP Dfa International Small Company (DFISX) (10/1/1996) 13.71% 10.45% 4.91% 6.89% MSCI AC World Index ex-US Smid Cap Index 12.24% 7.99% 3.79% N/A
EMERGING MARKETS Harding Loevner Frontier Emerging Markets Instl (HLFMX) -1.77% 4.48% N/A -2.75% (5/27/2008) Oppenheimer Developing Markets I (ODVIX) (12/29/2011) 18.42% 5.10% 6.65% 4.58% MSCI EMF Index 16.78% 3.03% 3.94% N/A
SPECIALTY - COMMODITIES Pimco Commoditiesplus Strategy Instl (PCLIX) (5/28/2010) -1.00% -7.95% N/A -3.57% Bloomberg Commodity Index -2.58% -9.37% -5.33% N/A
** The benchmarks for target date funds are a combination of a total market index and a US aggregate bond index proportional to the equity/bond allocation in the applicable target date fund.
PART III: HOW EXPENSES AFFECT YOUR INVESTMENTS
The cumulative effect of fees and other expenses can substantially reduce the growth of your retirement savings. Visit the Department of Labor’s Web site for an example showing the long-term effects of fees and expenses at www.dol.gov/ebsa/publications/401k_employee.html. Fees and expenses are only one of several factors that you should consider when making investment decisions. You may also want to think about whether an investment in a particular option, along with your other investments, will help you achieve your financial goals.
Mutual funds may charge one or more types of fees. These fees are stated in the fund’s prospectus. Examples of fees commonly charged are:
Operating Expenses. Operating expenses are the actual operating expenses for the fund. These are paid indirectly from your investment in the fund. The amount is expressed as a percentage (known as the “expense ratio”) and in the chart below as a dollar amount for every $1,000 invested. For example, if the operating expense is .50%, the cost for every $1,000 invested is $5 per year (.005 x 1,000). Investment results shown for a fund include the operating expenses.
Shareholder Fees. Some funds charge an additional amount when you buy or redeem shares in a fund. Purchase fees include sales loads, sales charges, deferred sales charges and redemption fees (charged if you sell within a short time of buying), exchange fees, account fees, purchase fees, transfer or withdrawal fees, surrender charges, contract maintenance fees and mortality and expense charge. Investment results for a fund do not include shareholder fees.
The Fees and Expenses table shows fee and expense information for the investment options listed in prior tables.
Fees and Expenses as of 09/30/2016
Investment Expenses / Restrictions
Operating Operating Redemption Expense Expense Fees Shareholder Name of Fund Rate per $1000 Percent Duration Restrictions
LIFECYCLE PORTFOLIO - INCOME T. Rowe Price Retirement Balanced Instl (TRPTX) 2.22% $22.20 N/A N/A (9/29/2015) LIFECYCLE PORTFOLIO - 2010-2015 T. Rowe Price Retirement 2010 Instl (TRPAX) 0.51% $5.10 N/A N/A (9/29/2015) T. Rowe Price Retirement 2015 Instl (TRFGX) 0.97% $9.70 N/A N/A (9/29/2015) LIFECYCLE PORTFOLIO - 2020-2025 T. Rowe Price Retirement 2020 Instl (TRBRX) 0.63% $6.30 N/A N/A (9/29/2015) T. Rowe Price Retirement 2025 Instl (TRPHX) 0.73% $7.30 N/A N/A (9/29/2015) LIFECYCLE PORTFOLIO - 2030-2035 T. Rowe Price Retirement 2030 Instl (TRPCX) 0.67% $6.70 N/A N/A (9/29/2015) Investment Expenses / Restrictions
Operating Operating Redemption Expense Expense Fees Shareholder Name of Fund Rate per $1000 Percent Duration Restriction
T. Rowe Price Retirement 2035 Instl (TRPJX) 0.86% $8.60 N/A N/A (9/29/2015) LIFECYCLE PORTFOLIO - 2040-LATER T. Rowe Price Retirement 2040 Instl (TRPDX) 0.76% $7.60 N/A N/A (9/29/2015) T. Rowe Price Retirement 2045 Instl (TRPKX) 1.06% $10.60 N/A N/A (9/29/2015) T. Rowe Price Retirement 2050 Instl (TRPMX) 0.97% $9.70 N/A N/A (9/29/2015) T. Rowe Price Retirement 2055 Instl (TRPNX) 2.05% $20.50 N/A N/A (9/29/2015) T. Rowe Price Retirement 2060 Instl (TRPLX) 11.52% $115.20 N/A N/A (9/29/2015) STABLE VALUE Morley Stable Value 25 0.55% $5.50 N/A N/A
INTERMEDIATE TERM BOND INDEX (FREE FLOAT) Vanguard Total Bond Market Index Instl (VBTIX) 0.05% $0.50 N/A N/A You will be blocked from transfer (9/18/1995) exchange purchases for a consecutive 60-day period following one transfer exchange sale. INFLATION-LINKED BOND Dfa Inflation-Protected Securities I (DIPSX) 0.12% $1.20 N/A N/A (9/18/2006) EMERGING MARKETS LOCAL DEBT Mfs Series Trust X: Mfs Emerging Markets Debt 0.76% $7.60 N/A N/A Fund; Class R5 Shares (MEDHX) (5/1/2006) TOTAL MARKET INDEX CRSP - VANGUARD Vanguard Total Stock Market Index Adm (VTSAX) 0.05% $0.50 N/A N/A You will be blocked from transfer (11/13/2000) exchange purchases for a consecutive 60-day period following one transfer exchange sale. LARGE GROWTH Vanguard Growth Index Adm (VIGAX) (11/13/2000) 0.08% $0.80 N/A N/A You will be blocked from transfer exchange purchases for a consecutive 60-day period following one transfer exchange sale. MID VALUE Fmi Large Cap Fund (FMIHX) (12/31/2001) 0.87% $8.70 N/A N/A Jpmorgan Mid Cap Value Instl (FLMVX) 0.94% $9.40 N/A N/A You will be blocked from transfer (11/13/1997) exchange purchases for a consecutive 30-day period following one transfer exchange sale. MID GROWTH Goldman Sachs Growth Opportunities Instl (GGOIX) 1.00% $10.00 N/A N/A (5/24/1999) SMALL VALUE Westcore Small-Cap Value Dividend Instl (WISVX) 1.22% $12.20 N/A N/A (9/28/2007) SMALL GROWTH Voya Smallcap Opportunities Fund Class R6 (ISOZX) 0.99% $9.90 N/A N/A (5/31/2013)
Investment Expenses / Restrictions
Operating Operating Redemption Expense Expense Fees Shareholder Name of Fund Rate per $1000 Percent Duration Restrictions
INTERNATIONAL EQUITY American Funds Europacific Growth R6 (RERGX) 0.50% $5.00 N/A N/A Redemptions or transfer exchange (5/1/2009) sales having a value of $5,000 or more will be precluded from investing in that fund until 30 calendar days have elapsed since the date of the redemption transaction. Contributions are exempted from this policy. INTERNATIONAL SMALL/MID CAP Dfa International Small Company (DFISX) 0.54% $5.40 N/A N/A (10/1/1996) EMERGING MARKETS Harding Loevner Frontier Emerging Markets Instl 1.79% $17.90 N/A N/A (HLFMX) (5/27/2008) Oppenheimer Developing Markets I (ODVIX) 0.87% $8.70 N/A N/A (12/29/2011) SPECIALTY - COMMODITIES Pimco Commoditiesplus Strategy Instl (PCLIX) 0.96% $9.60 N/A N/A (5/28/2010)
Please visit the Investments page on newportgroup.com to review current investment performance and expense information. You can also review each fund’s prospectus and fund fact sheet to learn more about the fund’s issuer, the fund’s objectives, its principal strategies and risks and portfolio turnover. You may contact us at (888) 401-5488 to request paper copies.
Please also visit newportgroup.com for a glossary of terms relevant to the investment options under this Plan. This glossary is intended to help you better understand your options.
PART IV: ADMINISTRATIVE FEES AND EXPENSES
Certain plan expenses may be charged to your Plan account.
General Administration. The Plan hires outside professionals to provide recordkeeping, custodial, trust, administration and other services such as legal, accounting, and investment advice.
The average annual fees the plan pays for general administration expenses for each participant are estimated to be:
Recordkeeping/Administration $68 Trust/Custody $35 Advisory Services $112 Legal/Audit $25
Some of the Plan’s general administration expenses are paid from the operating expenses of the Plan’s investment funds. Only those fees not covered by the operating expenses of the Plan’s investment funds or paid by Plastic Ingenuity will be deducted from your account.
General administration expenses remaining after payment from the Plan’s investment funds are deducted from your account based on the value of your account compared to the value of all participants in the Plan.
Your share of general administration expenses are deducted from your account and will be shown on your quarterly statement. The fees shown on the statement are the fees incurred by your account in the preceding quarter.
Individual Expenses. Your account may incur charges for transactions that you request. The fees for these services are deducted from your account when the transaction occurs. Transactions you requested during the quarter will appear on your next quarterly statement along with all associated fees.
Distribution Fee $55.00 per payment Loan Origination Fee $100.00 per loan QDRO - Account Split Calculation and Posting $125.00 per hour QDRO - Review and Validation $475.00 per occurrence Redemption Fee See Fund Prospectuses Postage All Postage is billed at cost
Please visit newportgroup.com to review current investment performance and expense information. You can also review each fund’s prospectus and fund fact sheet to learn more about the fund’s issuer, the fund’s objectives, its principal strategies and risks and portfolio turnover. In order to obtain a paper copy of this notice please call the Participant Service Center at (888) 401-5488.
For a Glossary of Terms, please visit www.newportgroup.com (Support > FAQs > Launch Knowledge Base) and enter Participant Fee Disclosure. Notice Regarding Electronic Delivery of Benefit Statements
As a participant in the Plastic Ingenuity, Inc. Profit Sharing and Savings Plan (401(k) Safe Harbor Account) (or as a beneficiary of or alternate payee with respect to a Plan participant), you are entitled to receive a benefit statement on a periodic basis. Benefit statements are provided electronically through the NewportGroup.com website. The benefit statement includes important information regarding the Plan, including:
• Your total account balance under the Plan • Your vested interest in your account balance • The value of any investment options in which assets of your account are invested • If you have the right to direct the investment of your account, information regarding (i) any restrictions on those rights, (ii) the importance of diversifying your investments, and (iii) the availability of investment information provided by the Department of Labor on its website.
The information required to be included in your benefit statement is available continuously through a secure website maintained by the Plan’s third party service provider. To access that information, point your browser to www.NewportGroup.com. Select the Login button in the upper right corner of the screen, select Participant Access then enter your User Name and Password and click Sign In. (If you have forgotten your User Name and Password, you may click on the “I forgot” links located at the login screen, or you may contact the Participant Service Center at 888-401-5488.) Once you are logged in, your most recent benefit statement can be viewed by selecting Statements from the My Dashboard screen. You will be notified by email each time a new benefit statement has been posted to the website.
In order to be notified when each quarterly statement is available for viewing, please review your email address reflected on the website to ensure it’s an active address. To enter or change your email address go to www.NewportGroup.com and click ‘My Profile’ in the upper right side of the screen, and then ‘click to update your email address’.
If you would prefer to receive a paper copy of your benefit statement, please contact the Participant Service Center at 888-401-5488. The paper copy will be provided to you, free of charge.
PLASTIC INGENUITY, INC. PROFIT SHARING AND SAVINGS PLAN AUTOMATIC ENROLLMENT NOTICE
Beginning in 2015, Plastic Ingenuity, Inc. (the “Company”) is making saving for retirement under our 401(k) Plan even easier. We are offering an automatic enrollment feature for all employees who first become eligible for the Plan on or after January 1, 2015. If you became eligible for the Plan prior to January 1, 2015, this Notice does not apply to you.
The new automatic enrollment feature won’t change your contribution level if you previously elected a different level of contributions to the Plan or elected not to contribute by signing and turning in (to Jodi Wells at the address located at the bottom of this notice, or to the Human Resources Department at your facility) the Waiver of Participation Form. You can change your contribution level at any time at the following website: www.newportgroup.com or by contacting the Newport Participant Service Center at 888-401-5488.
If you do not waive participation or make a contribution election online, and you first became eligible for the Plan on or after January 1, 2015, you will be automatically enrolled in the Plan starting with your first paycheck after you become eligible. This means that amounts will be taken from your pay and contributed to the Plan. For pay during 2017, these automatic contributions will be 3% of your eligible pay. But, you can choose a different amount. You can choose to contribute more, less or even nothing.
This notice gives you important information about some Plan rules, including the Plan’s automatic enrollment feature and Company matching contributions. The notice covers these points:
Whether the Plan’s automatic enrollment feature applies to you;
What amounts will be automatically taken from your pay and contributed to the Plan’
How your Plan account will be invested;
When your Plan account will be vested (that is, not lost when you leave your job), and
when you can get your Plan account, and
How you can change your contributions.
You can find out more about the Plan in another document, the Plan’s Summary Plan Description (SPD).
1. Does the Plan’s automatic enrollment feature apply to me?
The Plan’s automatic enrollment feature will not apply to you if you previously elected to make contributions to the Plan or to not contribute. If you made an election, your contribution
level will not automatically change. But, you can always change your contribution level online at www.newportgroup.com .
If you have not elected a contribution level and first became eligible for the Plan on or after January 1, 2015, you will be enrolled in the Plan starting with your first paycheck after you become eligible. This means money will be automatically taken from your pay and contributed to your Plan account. If you do not want to be enrolled, you need to waive participation online at www.newportgroup.com or by contacting the Newport Participant Service Center at 888-401- 5488 prior to the end of the enrollment period.
2. If I do nothing, how much will be taken from my pay and contributed to the Plan?
If you do not waive participation or otherwise make a contribution election online, 3% of your eligible pay for each pay period will be taken from your pay and contributed to the Plan. This will start with your first paycheck after you become eligible and continue until you change it.
Your contributions to the Plan are taken out of your pay and are not subject to federal income tax at that time. Instead, they are contributed to your Plan account and can grow over time with earnings. Your account will be subject to federal income tax only when withdrawn. This helpful tax rule is a reason to save for retirement through Plan contributions.
Contributions will be taken out of your pay if you do nothing. But you are in charge of the amount that you contribute. You may decide to do nothing and become automatically enrolled, or you may choose to contribute an amount that better meets your needs. You can change your contributions online at www.newportgroup.com .
If you want to contribute more to your account than would be provided automatically, there are limits on the maximum amount. These limits are described in the “Salary Deferrals” section of the Plan’s SPD.
3. How will my Plan account be invested?
You have the right to direct the investment of your accounts in any of the investment choices explained online at www.newportgroup.com . If you do not make an election as to how the Plan should invest your accounts, then the Plan trustee will invest your accounts in the “default” investment that the Plan officials have selected. The default investment is fully explained in the enclosed QDIA Notice.
4. When will my Plan account be vested and available to me?
You will always be fully vested in your contributions to the Plan. To be fully vested in Plan contributions means that the contributions (together with any investment gain or loss) will always belong to you, and you will not lose them when you leave your job.
Even if you are vested in your Plan account, there are limits on when you may withdraw your funds. These limits may be important to you in deciding how much, if any, to contribute to the Plan. Generally you may only withdraw vested money after you leave your job, reach age 65, or become disabled. Also, there is generally an extra 10% tax on distributions before age 59- 1/2. Your beneficiary can get any vested amount remaining in your account when you die.
5. Can I change the amount of my contributions?
You can always change the amount you contribute to the Plan. If you know now that you do not want to contribute to the Plan (and you haven’t already elected not to contribute), you will want to waive participation online at www.newportgroup.com. That way, you avoid any automatic contributions.
But, if you do not turn in the Form in time to prevent automatic contributions, you can withdraw the automatic contributions for a short time, despite the general limits on Plan withdrawals. During the 90 days after automatic contributions are first taken from your pay, you can withdraw prior automatic contributions by notifying Jodi Wells (at [email protected]). The amount you withdraw will be adjusted for any gain or loss. Also, your withdrawal will be subject to federal income tax (but not the extra 10% tax that normally applies to early distributions). If you take out automatic contributions, the Company will treat you as having chosen to make no further contributions. However, you can always choose to continue or restart your contributions online at www.newportgroup.com or by contacting the Newport Participant Service Center at 888-401-5488.
If you have any questions about how the Plan works or your rights and obligations under the Plan, or if you would like a copy of the Plan’s SPD or other Plan documents, please contact the Plan Administrator at:
Plastic Ingenuity, Inc. 1017 Park Street Cross Plains, Wisconsin 53528 608-798-3071 Email: [email protected]
NOTICE TO ELIGIBLE PARTICIPANTS OF THE PLASTIC INGENUITY, INC. PROFIT SHARING AND SAVINGS PLAN
This notice provides information regarding your participation in the Plastic Ingenuity, Inc. Profit Sharing and Savings Plan for the 2017 plan year, which begins January 1, 2017.
Salary Deferrals: You are eligible to begin making salary deferrals to the Plastic Ingenuity, Inc. Profit Sharing and Savings Plan on your first calendar quarter (January 1, April 1, July 1, or October 1) after you have been employed for 3 consecutive months. However, beginning January 1, 2015, Part-time and Limited term employees will not be eligible to make salary deferrals until completing One Year of Eligibility-Service. The salary-deferral amounts must be at least 1% of your compensation. Your total deferrals in any plan year may not exceed the dollar limit set by the IRS for that year ($18,000 for 2017). If you are at least 50 years old by the end of a year, then you may also make an additional “catch-up” salary deferral, up to the “catch-up” limit set by the IRS for that year ($6,000 for 2017) (i.e., a total of $24,000 for 2017). You may designate all or any part of your salary deferrals as after-tax “Roth” contributions. You are 100% vested in your account attributable to salary deferrals.
Company Profit-Sharing Contributions: If you:
(1) have worked for the Company for at least one year (in which you worked at least 1,000 hours); (2) have worked at least 1,000 hours for the Company during the twelve-month period ending on December 31, 2017; and (3) were employed on December 31, 2017,
then you are eligible to participate in the Plan for purposes of Company profit-sharing contributions for 2017. If you are eligible to participate in the Plan for purposes of Company profit-sharing contributions for 2017, then (1) the Company will make a “safe harbor” profit- sharing contribution equal to 3% of your compensation for 2017 and (2) the Company intends to make an additional discretionary profit-sharing contribution equal to 4% of your compensation for 2017. Therefore, the total Company profit-sharing contribution for 2017 (as in prior years) is intended to equal 7% of compensation. You are 100% vested in your account attributable to “safe harbor” profit sharing contributions. The portion of your account attributable to Company discretionary profit-sharing contributions is subject to a 2- to-6 year vesting schedule.
Withdrawal Restrictions: In general, you may not withdraw any amounts from the Plan until after termination from employment or until you attain age 65, whichever comes first. Nevertheless, you might be able to withdraw part of your Company profit-sharing contribution account if needed for college education expenses, extraordinary medical expenses, or purchase of a principal residence. You may also borrow money from your account according to the Plan’s loan policy.
Additional Information: Refer to the summary plan description or contact Jodi Wells at 608-798-6222 for additional information about the Plan.
This notice is dated November 29, 2016, and satisfies the “safe harbor” 401(k) notice requirements of Internal Revenue Code § 401(k)(12)(D). PLASTIC INGENUITY, INC. PROFIT SHARING & SAVINGS PLAN MAY 2017
Revised 05.23.17
401(k) making wise investment decisions let’s get started Before making 401(k) investment decisions, it’s important to review the basics. Investments generally fall into four groups: stable value (money market) investments, bonds, stocks (equities), and hard assets. For best results, it’s important to spread your savings among the categories, a process called asset allocation. The idea is simple: by owning several categories your overall volatility is reduced since categories often perform differently from one another in any given year.
STABLE VALUE (MONEY MARKETS) TYPES OF STOCK FUNDS: Stable value and money market investments are designed to protect your savings from Large-Cap Stock Funds: These funds seek long-term capital appreciation by loss; you’re simply earning interest on your savings. Returns will vary as overall interest investing primarily in large, well-established companies within the United States. rates change. Keep in mind though that money market investments are not insured or Mid and Small-Cap Stock Funds: These funds seek long-term growth by guaranteed by the FDIC or any other government agency. Although they are designed to investing in mid and smaller sized companies within the United States. preserve their value at $1.00 per share, it is possible to lose money by investing in them. Small-cap stocks may deliver higher returns than more well-established BONDS large companies but with more price fluctuations. Bonds are designed to provide stability, income, and some appreciation in value. International Stock Funds: These funds seek long-term growth by investing primarily This combination is intended to provide a higher return over time than money market in large-sized companies located in developed regions of the foreign world, primarily and stable value investments. With bonds, you are simply lending money to others; Europe, Australia, and Japan. they pay you back with interest. Bonds are issued by the U.S. Government, foreign governments, corporations, and governmental agencies. Bond mutual funds, like those Emerging Market Stock Funds: These funds seek long-term growth by investing in available within your retirement plan, are simply professionally managed baskets of companies located in the underdeveloped regions of the foreign world, primarily bonds. Brazil, India, and China. These regions are growing more rapidly than the developed
STOCKS (EQUITIES) foreign markets and have greater growth opportunity but with more risk. Stocks are meant to provide long-term growth by increasing in value. As an investor, Frontier Market Funds: These funds invest in equity securities within the “frontier you become part-owner of the company, rather than lending money as with a bond. markets” including Africa, South America, and Asia. Think of “frontier markets” as even Shareholders earn return either through price appreciation of their shares and/or from more “emerging” than the regions invested in by an emerging markets fund which dividend payments. Although stock prices tend to fluctuate more, they have historically focuses primarily on Brazil, India, and China. While these regions represent some of the provided a higher return than stable value or bond investments. Stock mutual funds are strongest growth regions of the world, the “frontier markets” fund will narrow the focus simply professionally managed baskets of stocks, focusing on specific types of compa- to the most underdeveloped and fastest growing regions. nies. See the right column for the different types of stock funds. A note about risk: It is important to keep in mind that investing involves risk. While bonds are generally considered more conservative, they do not protect investors against price changes due to changing HARD ASSETS interest rates. They are not guaranteed and will fluctuate in value. Prices of all equity investments will These funds invest in commodity-based investments or “hard assets” such as oil, corn, fluctuate. Mid- and small-cap stocks often fluctuate more than those of large companies. Foreign gold, steel, and soybeans. This category is very volatile, however when mixed with a equities involve additional risks including currency fluctuations and political uncertainty. For more information about any fund, including investment objectives, risks, charges and expenses, see the fund well-diversified portfolio, it can actually reduce the overall volatility of your portfolio. prospectus. Read and consider the prospectus information carefully. you decide which approach is best for you The plan offers two ways to invest: with pre-mixed target retirement date funds or the regular investment menu. 1 TARGET RETIREMENT DATE FUNDS Target retirement date funds are ideal for those who want to keep it simple. Each fund is specifically designed for investors with a target retirement date in mind. The fund managers select a mixture of stock, bond, and money market funds tailored specifically for your age group. As you near your retirement date, the fund managers gradually shift your investment allocation to a more conservative mix. A list of target retirement date funds available in your plan is shown on the last page. 2 REGULAR INVESTMENT MENU You can also build your own fund mix from the regular investment menu. We can help. Take the risk tolerance quiz on the following page to first determine your personal risk tolerance, then locate a sample asset allocation for your age bracket and risk tolerance. Before selecting any funds, be sure to review each fund’s profile and prospectus and review the fees that each fund charges. learn more about you A successful investment plan balances investment risk, potential return and takes into consideration your personal risk tolerance. Take the profile quiz below to determine how much risk you’re comfortable taking to achieve investment results. If you score under 39 points, you are considered a conservative investor. If you score between 39 and 78 points, you are considered a moderate investor. If you score over 78 points, you are considered an aggressive investor. Now find your point total and age to locate a sample asset allocation.
What is your current age? You’ve invested a large amount of retirement money into a fund that just dropped 20% in value. Under 30 15 points 46 – 60 5 points What would you do? 30 – 45 10 points Over 60 1 point Get out so I don’t have to worry about it 1 point Hold on to it and hope that it will come back 8 points In how many years do you plan to retire? Buy more; the reason I liked it before has not changed 15 points More than 15 15 points 5 - 9 years 5 points 10 - 15 years 10 points Less than 5 years 1 point Congratulations! You’ve just won the grand prize in a raffle. Choose between: $500 cash 1 point How knowledgeable do you consider yourself about economic issues, Flip a coin to win $1,500 cash 5 points investing, and personal finance? 1 in 10 chance to win $10,000 15 points Very knowledgeable – I read financial publications and keep informed about what’s happening with financial and economic issues 15 points Which ONE of the following statements best describes how you would feel if your retirement Somewhat knowledgeable – I’ve learned a little from my friends, TV, account dropped 20% in a short period of time? and the web 8 points Extremely upset 1 point Not very knowledgeable – I don’t know much about finance or investing 1 point Very worried 5 points Concerned but not worried 10 points Which statement best describes how you feel about your retirement savings? Not at all concerned 15 points I want to do everything possible to ensure that savings rarely goes down in value 1 point If you knew there was a very good chance that you could improve the quality of your life in I’m willing to accept some risk in exchange for a strong probability of higher retirement by accepting more risk with your retirement savings, would you: returns 5 points Probably do nothing about it 1 point I want an above average rate of return on my savings and I’m planning on Consider investing some of your savings more aggressively 8 points investing in several options or “diversifying” to reduce my risk 10 points Be willing to invest most of your savings aggressively 15 points I want my account to grow as much as possible, regardless of the risk 15 points TOTAL POINTS______
SAMPLE ASSET ALLOCATION MODELS Age 20-40 Age 40-55 Age 55-65 Risk Tolerance Conservative Moderate Aggressive Conservative Moderate Aggressive Conservative Moderate Aggressive % Equities / % Fixed Income 50/50 70/30 90/10 45/55 60/40 85/15 25/75 50/50 70/30 Morley Stable Value Fund 15% 10% 0% 20% 15% 5% 30% 20% 15% Vanguard Total Bond Market Index I Fund 15% 10% 0% 15% 10% 2% 15% 10% 5% DFA Inflation-Protected Securities I Fund 10% 5% 5% 10% 10% 3% 20% 15% 5% MFS Emerging Markets Debt R6 Fund 10% 5% 5% 10% 5% 5% 10% 5% 5% FMI Large Cap Fund 5% 5% 10% 5% 5% 5% 3% 5% 5% Vanguard Growth Index Inst Fund 5% 5% 10% 5% 5% 5% 2% 5% 5% Vanguard Total Stock Mkt Index I Fund 10% 10% 10% 5% 10% 15% 5% 5% 15% JPMorgan Mid-Cap Value L Fund 0% 0% 0% 0% 0% 0% 0% 0% 0% Vanguard Mid-Cap Growth Index Adm Fund 0% 0% 0% 0% 0% 0% 0% 0% 0% Westcore Small Cap Value Dividend Instl Fund 5% 10% 10% 5% 5% 8% 0% 5% 5% Voya SmallCap Opportunities R6 Fund 5% 10% 10% 5% 5% 7% 0% 5% 5% American Funds EuroPacific Growth R6 Fund 5% 5% 10% 10% 8% 15% 5% 10% 10% DFA Intl Small Company I Fund 0% 5% 5% 0% 2% 5% 0% 0% 0% Oppenheimer Developing Mkts I Fund 5% 5% 10% 3% 5% 10% 5% 3% 10% Harding Loevner Frontier Em Markets Inst Fund 5% 5% 5% 2% 5% 5% 0% 2% 5% PIMCO CommoditiesPLUS Strategy Instl Fund 5% 10% 10% 5% 10% 10% 5% 10% 10%
The models presented above are merely a means of allocating your account values among the various investment options under the Plan, consistent with the level of riskyou consider appropriate for your situation. The models shown are designed to provide general guidance but do not take into consideration any individual situations or unique circumstances. They are meant as starting points and should not be considered investment advice. Sample allocations are based on the investment expertise of Francis Investment Counsel LLCand widely accepted standards of prudent financial planning. Please consider your other savings as well as the savings in your retirement plan when making investment decisions. This Plan is intended to constitute an ERISA 404(c) Plan, under which fiduciaries may be relieved of liability for losses that are a direct result of the participant’s investment instruction. Target Retirement Date Funds – T. Rowe Price Target Retirement Date I Funds
Balanced Fund 2010 Fund 2015 Fund 2020 Fund 2025 Fund 2030 Fund 2035 Fund 2040 Fund 2045 Fund 2050 Fund 2055 Fund 2060 Fund
Regular Investment Menu For a diversified portfolio allocation, please refer to the sample asset allocation models on the previous page. Fund Fund Type Objective and Investment Strategy Seeks to generate current income while maintaining a stable share price by investing in short-term U.S. Treausry securities issued by the U.S. Govern- ment, including the U.S. Treasury, U.S. agencies, and/or instrumentalities. An investment in a money market fund is neither insured nor guaranteed Morley Stable Value Fund Stable Value by the U.S. Government. There is no assurance that the fund will be able to maintain a stable share price, and it is possible to lose money by investing in this fund.
Vanguard Total Bond Market Index I Fund Seeks current income with only limited volatility of principal. In pursuit of these objectives, the managers invest primarily in investment-grade corpo- Intermediate Bond Index (VBTIX) rate bonds, U.S. Treasury securities, or bonds issued by U.S. Government agencies. As an index fund, this passively managed fund seeks to duplicate the returns of the BarCap U.S. Aggregate Bond Index. DFA Inflation-Protected Securities I Fund Seeks to provide inflation protection and income consistent with inflation-indexed securities by investing in high-quality inflation-indexed bonds
Fixed Income Fixed TIPS Bond (DIPSX) issued by the U.S. Treasury and government agencies as well as domestic corporations. MFS Emerging Markets Debt R6 Fund Seeks total return with an emphasis on high current income, but also considers capital appreciation. The fund managers primarily invest in assets in Emerging Markets Debt (MEDHX) debt securities issued by emerging market countries and corporations located in emerging market countries.
FMI Large Cap Fund Seeks capital appreciation by investing primarily in large companies with market capitalizations of $10 billion or more that appear to be undervalued. return risk/potential Lower Large-Cap Value (FMIHX) Large-cap funds tend to be less volatile than those that invest in smaller companies. Vanguard Growth Index Inst Fund Seeks capital appreciation by investing primarily in stocks of large companies with above-average prospects for earnings growth and market capital- Large-Cap Growth (VIGIX) izations of $10 billion or more. Large-cap funds tend to be less volatile than those that invest in smaller companies. Vanguard Total Stock Market Index I Fund Seeks capital appreciation by investing in stocks of companies across all market capitalizations, typically resulting in a blend of "growth" and "value" Multi-Cap Blend Index (VITSX) stocks. As an index fund, this passively managed fund seeks to duplicate the returns of the CRSP U.S. Total Market TR Index. JPMorgan Mid-Cap Value L Fund Seeks capital appreciaition by investing primarily in medium-sized companies with market capitalizations of between $1.5 and $10 billion that appear Mid-Cap Value (FLMVX) undervalued. Mid-cap funds tend to be more volatile than large-cap funds and are appropriate for investors willing to take on more risk.
Vanguard Mid-Cap Growth Index Adm Fund Seeks capital appreciation by investing primarily in stocks of medium-sized companies with market capitalizations of between $1.5 billion and $10 Mid-Cap Growth (VMGMX) billion, and above-average prospects for earnings growth. Mid-cap funds tend to be more volatile than large-cap funds and are appropriate for inves- tors willing to take on more risk.
Westcore Small Cap Value Dividend Instl Fund Seeks capital appreciation by investing primarily in small companies with market capitalizations of less than $1.5 billion, which can lead to increased Small-Cap Value (WISVX) volatility. The fund managers target smaller companies that appear undervalued. Small-cap companies tend to be more volatile than those that invest in larger companies and are appropriate for investors willing to take on more risk.
Voya SmallCap Opportunities R6 Fund Seeks capital appreciation by investing primarily in smaller companies, with market capitalizations of less than $1.5 billion. Managers target compa- Small-Cap Growth nies with above-average prospects for earnings growth. Small-cap companies tend to be more volatile than those that invest in larger companies and
Stocks (ISOZX) are appropriate for investors willing to take on more risk.
American Funds EuroPacific Growth R6 Fund International - Seeks capital growth by investing primarily in companies in developed countries outside the U.S. This may include emerging market countries, which (RERGX) Developed Markets tend to be more volatile than developed countries. Foreign equities are subject to unique risks such as currency fluctuations and political uncertainty.
Seeks long-term capital growth by investing in small-cap companies domiciled in developed countries outside the U.S. This may include emerging International - DFA International Small Company I Fund market countries, which tend to be more volatile than developed countries. Foreign equities are subject to unique risks such as currency fluctuations Developed Markets (DFISX) and political uncertainty. Small-cap companies tend to be more volatile than those that invest in larger companies and are appropriate for investors (Small-Cap) willing to take on more risk. Oppenheimer Developing Markets I Fund International - Seeks long-term growth by investing mainly in companies in emerging market countries - those experiencing more rapid growth than developed (ODVIX) Emerging Markets countries. They are often more vulnerable to currency risk and political instability and are appropriate for investors willing to take on more risk. Higher return risk/potential Harding Loevner Frontier Emerging Mkts Inst Fund International - Seeks long-term capital appreciaiton by primarily investing in securities of companies located in "frontier market countries" - which, in general, are (HLFMX) Frontier Markets under-developed countries - located in Asia, Eastern Europe, the Middle East, Central and South America, and Africa. PIMCO CommoditiesPLUS Strategy Instl Fund Seeks maximum real return by investing in commodity-linked derivative instruments, including index-linked notes, swap agreements, and futures and Hard Assets (PCLIX) options that provide exposure to the investment returns of commodities markets such as oil, metals, and agricultural products.
Conservative Funds Moderate Funds Moderately Aggressive Funds Aggressive Funds Very Aggressive Funds next steps 1. Access your account to make fund changes The Newport Group serves as the plan recordkeeper. To access your account, visit their website at www.newportgroup.com. Your Login ID is preset as your Social Security number. Your Password is preset as your birth month and year (mmyy format). Lost your Password? Visit www.newportgroup.com to request a replacement. Don't have a computer? Call the Newport Group's automated phone system to speak with a Customer Service Representative at 888-401-5488. Access your Account 2. Understand the fees you are charged newportgroup.com Each fund charges a management fee or “internal fund expense” to manage your savings. These fees are automatically deducted from investment 888-401-5488 results and are expressed as a percentage of plan assets. These fees vary by fund and are listed in the fund profiles. Investment results are shown net of these management expenses. In addition, expenses for investment consulting and employee education and advice services are charged Get Advice against plan assests. These fees vary slightly each year; however, based on current services agreements, they are approximately 0.17% per annum, moneyadviceatwork.com or 0.04% per quarter. Fees appear under "transactions" on the web. 866-232-6457 3. Get advice Contact Francis Investment Counsel at 866-232-6457 or make an appointment with your advisor by visiting www.moneyadviceatwork.com. Click on Get Advice, then select the advisor of your choice to view their available appointments. Experienced financial advisors can assist you with any retirement planning matter.
©2013 Francis Investment Counsel Plastic Ingenuity, Inc. Profit Sharing & Savings Plan
T. Rowe Price Target Retirement Date Funds Performance as of April 30, 2017 Expense Ratio / Fund Name (Ticker Symbol) (Target Date Fund Asset Allocation)* Fund Type YTD 1 Year 3 Years 7 Years National Average* T. Rowe Price Retirement Balanced I Fund (TRPTX) (Cash + Bond = 61% | Equity = 39%) Target Retirement Date Fund 4.3% 7.8% 3.9% 5.7% 0.43% / 0.83% T. Rowe Price Retirement I 2010 I Fund (TRPAX) (Cash + Bond = 57% | Equity = 43%) Target Retirement Date Fund 4.8% 8.7% 4.6% 6.8% 0.44% / 0.76% T. Rowe Price Retirement I 2015 I Fund (TRFGX) (Cash + Bond = 49% | Equity = 51%) Target Retirement Date Fund 5.6% 10.1% 5.1% 7.6% 0.47% / 0.79% T. Rowe Price Retirement I 2020 I Fund (TRBRX) (Cash + Bond = 39% | Equity = 60%) Target Retirement Date Fund 6.5% 11.7% 5.8% 8.3% 0.51% / 0.86% T. Rowe Price Retirement I 2025 I Fund (TRPHX) (Cash + Bond = 32% | Equity = 68%) Target Retirement Date Fund 7.3% 13.1% 6.3% 8.9% 0.54% / 0.84% T. Rowe Price Retirement I 2030 I Fund (TRPCX) (Cash + Bond = 24% | Equity = 75%) Target Retirement Date Fund 7.9% 14.3% 6.7% 9.4% 0.57% / 0.89% T. Rowe Price Retirement I 2035 I Fund (TRPJX) (Cash + Bond = 19% | Equity = 81%) Target Retirement Date Fund 8.6% 15.4% 7.0% 9.7% 0.59% / 0.86% T. Rowe Price Retirement I 2040 I Fund (TRPDX) (Cash + Bond = 14% | Equity = 86%) Target Retirement Date Fund 9.0% 16.2% 7.2% 10.0% 0.61% / 0.91% T. Rowe Price Retirement I 2045 I Fund (TRPKX) (Cash + Bond = 12% | Equity = 87%) Target Retirement Date Fund 9.1% 16.3% 7.3% 10.0% 0.61% / 0.87% T. Rowe Price Retirement I 2050 I Fund (TRPMX) (Cash + Bond = 12% | Equity = 87%) Target Retirement Date Fund 9.1% 16.3% 7.3% 10.0% 0.61% / 0.91% T. Rowe Price Retirement I 2055 I Fund (TRPNX) (Cash + Bond = 12% | Equity = 87%) Target Retirement Date Fund 9.1% 16.5% 7.2% 10.0% 0.61% / 0.87% T. Rowe Price Retirement I 2060 I Fund (TRPLX) (Cash + Bond = 12% | Equity = 87%) Target Retirement Date Fund 9.2% 16.4% N/A N/A 0.61% / 0.87% Custom Fund Mixes Expense Ratio / YTD 1 Year 3 Years 7 Years National Average* Morley Stable Value Fund 0.5% 1.5% 1.3% 1.5% 0.55% Stable Value Benchmark: Citigroup 3-month T-Bill 0.2% 0.4% 0.2% 0.1% N/A Vanguard Total Bond Market Index I Fund (VBTIX) 1.7% 0.8% 2.6% 3.4% 0.05% Intermediate Bond Index Benchmark: Bloomberg BarCap U.S. Aggregate Bond Index 1.6% 0.8% 2.7% 3.4% 0.79% DFA Inflation-Protected Securities I Fund (DIPSX) 2.3% 1.7% 1.9% 3.4% 0.12% TIPS Bond Benchmark: Bloomberg BarCap Capital U.S. Treasury U.S. TIPS Index 1.9% 1.7% 1.8% 3.2% 0.74% MFS Emerging Markets Debt R6 Fund (MEDHX) 5.3% 8.5% 4.9% 6.0% 0.73% Emerging Markets Debt Benchmark:JPMorgan EMBI Global TR Index 5.6% 8.5% 5.8% 6.9% 1.18% FMI Large Cap Fund (FMIHX) 6.4% 15.2% 8.9% 11.2% 0.84% Large-Cap Value Benchmark: Russell 1000 Value Index 3.1% 16.6% 8.3% 11.7% 1.07% Vanguard Growth Index Inst Fund (VIGIX) 12.1% 19.5% 11.5% 13.5% 0.66% Large-Cap Growth Benchmark: CRSP U.S. Large Cap Growth TR Index 12.2% 19.5% 11.5% N/A 1.15%
Vanguard Total Stock Market Index I Fund (VITSX) 6.9% 18.6% 10.1% 12.7% 0.04% Lower risk/potential return Multi-Cap Blend Index Benchmark: CRSP U.S. Total Market TR Index 6.9% 18.6% 10.1% N/A 1.01% JPMorgan Mid-Cap Value L Fund (FLMVX) 4.3% 14.4% 9.3% 13.2% 0.75% Mid-Cap Value Benchmark: Russell Mid-Cap Value Index 4.0% 17.5% 8.9% 12.7% 1.18% Vanguard Mid-Cap Growth Index Adm Fund (VMGMX) 9.4% 16.0% 9.3% 12.3% 0.08% Mid-Cap Growth Benchmark: CRSP U.S. Mid-Cap Growth Index 9.4% 16.0% 9.3% 12.5% 1.13% Westcore Small Cap Value Dividend Instl Fund (WISVX) -1.4% 22.0% 8.4% 10.9% 1.13% Small-Cap Value Benchmark: Russell 2000 Value Index 0.3% 27.2% 8.7% 10.6% 1.33% Voya Small-Cap Opportunities R6 Fund (ISOZX) 7.8% 23.8% 9.4% 12.8% 0.99% Small-Cap Growth Benchmark: Russell 2000 Growth Index 7.3% 24.1% 9.3% 12.5% 1.31% American Funds EuroPacific Growth R6 Fund (RERGX) International - 12.8% 15.1% 3.3% 6.3% 0.50% Benchmark: MSCI ACWI Ex U.S. Index Developed Markets 10.4% 13.1% 1.3% 4.7% 1.12% DFA International Small Company I Fund (DFISX) International - 11.9% 15.3% 4.1% 8.3% 0.53% Benchmark: MSCI EAFE Small Cap Index Developed Markets (Small-Cap) 12.8% 13.6% 5.7% 9.0% 1.42% Oppenheimer Developing Markets I Fund (ODVIX) International - 14.2% 19.2% 0.9% 4.2% 0.88% Benchmark: MSCI Emerging Markets Index Emerging Markets 14.0% 19.6% 2.2% 2.2% 1.48% Harding Loevner Frontier Emerging Markets Inst Fund (HLFMX) International - 6.4% 3.9% -5.9% 1.8% 1.79% Benchmark: MSCI Frontier Markets Index Frontier Markets 10.4% 11.3% -2.7% 4.0% 1.48% PIMCO CommoditiesPLUS Strategy Instl Fund (PCLIX) -4.9% 3.1% -16.7% N/A 0.74% risk/potential Higher return Hard Assets Benchmark: Credit Suisse Commodity Benchmark -5.9% -0.9% -18.4% -6.6% 1.41%
Conservative Moderate Moderately Aggressive Aggressive Very Aggressive Funds Funds Funds Funds Funds *Asset allocation breakdown of target date retirement funds and the national average fund expense shown for each fund category according to Morningstar. May not total 100%. **Given the limited track record of the T. Rowe Price Retirement I Funds, the performance shown in this analysis represents blended performance of the T. Rowe Price Retirement I Funds subsequent to their October 1, 2015 inception and the performance of the T. Rowe Price Retirement Funds, an substantially identical strategy, prior to October 1, 2015. The summary/prices/quotes/statistics contained herein have been obtained from sources believed reliable but are not necessarily complete and cannot be guaranteed. Total return includes change in share price, reinvestment of dividends, and capital gains. Past performance results are not a guarantee of future results. Actual performance will be affected by flows in and out of the fund. Source: Morningstar Inc. / Zephyr Associates, Inc. / Thompsen Vestek.
und performance und update Questions? Need assistance? Contact Francis Investment Counsel by phone at
f 866-232-6457 or find more information online at www.francisinvco.com. Morley Stable Value Fund Class 25 - I JUNE 30, 2017
Fund Profi le Fund Description Assets $7,717,780,447 The Fund primarily consists of a diversifi ed portfolio of Stable Value Investment Contracts (Investment Con- Crediting Rate1 1.91% tracts) issued by life insurance companies, banks and other fi nancial institutions, the performance of which 2 Avg. Credit Quality AA may be predicated on underlying fi xed income investments. The principal value of these assets is designed to 3 Avg. Duration 2.84 years remain stable regardless of stock and bond market fl uctuations. The Fund is typically appropriate for investors Market/Book Value Ratio4 100.37% who desire low volatility, stable principal value, and returns commensurate with a capital preservation objec- CUSIP 852320423 Turnover Ratio (updated annually)5 3.57% tive for a component of their retirement savings. The Fund is designed for long-term retirement investing. Inception Date December 1993
Fund Composition Investment Objective Cash 5.39% The objective of the Fund is to provide preservation of capital, relatively stable returns consistent with its com- GIC 5.03% paratively low risk profi le, and liquidity for benefi t responsive plan or participant payments. Separate Account Contracts 36.72% Synthetic Investment Contracts 52.86% Performance Trustee/Adviser Fee12 2.5% 25 basis points
Investment Contract Issuers 2.0% Prudential Ins Co of America 19.85% Metropolitan Life Ins Co 12.34% 1.5% Transamerica Life Ins Co 11.62% Massachusetts Mutual Life Ins Co 10.12% TIAA-CREF Life Ins Co 10.10% 1.0% New York Life Ins Co 9.18% Principal Life Ins Co 8.26% 0.5% American General Life Ins Co 7.62% State Street Bank 5.50% 0.0% Duration Distribution -0.5% 0-1 Yr 12.63% Month 3 Mo YTD 1 Yr 3 Yr 5 Yr 10 Yr 1-2 Yrs 18.12% Gross 0.15% 0.46% 0.89% 1.77% 1.61% 1.48% 2.27% 2-3 Yrs 24.15% Net 0.13% 0.40% 0.76% 1.52% 1.35% 1.23% 2.02% 3-4 Yrs 21.49% iMoneyNet All Taxable 0.04% 0.12% 0.18% 0.25% 0.11% 0.07% 0.49% 4-5 Yrs 17.69% 1-3 Year Govt -0.08% 0.20% 0.48% -0.07% 0.71% 0.65% 2.01% 5+ Yrs 5.92% Past performance is not a guarantee of future results. Performance returns assume the reinvestment of dividends and other earnings. Returns for periods less than one year are not annualized. Gross returns are presented net of Fund Level Expenses which includes Stable Value Investment Contract Fees, Sub-Adviser Fees, Acquired Fund Fees and Other Expenses. Net returns are presented net of 0.25% annualized Trustee/Adviser Fee Fund Structure and 0.00% annualized Service Provider Off set. Fees charged by varying share classes including the Service Provider Off set may diff er and as a result, The Morley Stable Value Fund (the Fund) is investors in other share classes may obtain higher or lower net returns if multiple share classes are available. Performance information for share a collective investment trust maintained by class options available after the original Fund inception date are based on the performance of the Morley Stable Value Fund, adjusted to refl ect estimated fees for the respective share class option. Please review page 2 for important information. Principal Global Investors Trust Company, (the Trust Company). The Trust Company has retained Morley Capital Management (the Adviser), to serve as investment adviser with respect to the Fund, subject to the Trust Com- Sector Allocation Credit Quality pany’s supervision and review. The Adviser is an indirect wholly owned subsidiary of Princi- GIC Cash pal Financial Group® and is under common AAA AA+ CMBS 5.02% 5.34% 0.95% control with the Trust Company. 5.57% 65.18% AA 0.74% ABS AA- About the Adviser 9.51% U.S. Govt 4.67% 23.18% A+ Morley Capital Management (Morley) was 2.88% founded in 1982 and began managing its fi rst A discretionary stable value account in Febru- 4.29% ary 1984. Morley has focused almost exclu- A- sively on managing stable value assets for our 6.23% institutional client base since our inception. MBS 19.89% BBB+ 5.79% BBB Contact Information 6.00% Credit BBB- For additional information on enrolling in the 31.49% 3.25% Fund, to obtain the Morley Stable Value Fund < BBB-/ NR Disclosure document or to obtain additional 0.01% information, please contact the Human Re- ABS = Asset Backed Securities sources Department of the participating plan, MBS = Mortgage Backed Securities or the participating plan’s recordkeeper. CMBS = Commercial Mortgage Backed Securities Morley Stable Value Fund / Class 25 - I
A Word on Risk 6,7 Defi nitions While stable value is generally considered a conservative investment option, stable value assets do 1. Crediting Rate – The rate of return credited to the book value of the Fund, expressed as carry potential risks. The Fund may lose value and may be worth more or less than the original cost an annual percentage rate and is calculated based on a book value dollar weighted basis when redeemed, and there is no assurance that the Fund’s objective will be achieved. Risks include, gross of the Trustee/Adviser Fee and Service Provider Off set and Other Expenses but net but are not limited to, 1) Investment Contract risk which includes the risk of maintaining Book Value of Wrap Fees, Sub-Adviser Fees, and Acquired Fund Fees. A crediting rate is determined per Accounting standards and the risk that Investment Contract issuers may default on their obligations Investment Contract which may remain fi xed for the term of the contract or may be reset at under the contract; 2) interest rate risk which includes the potential that an increase in market inter- predetermined intervals based upon portfolio characteristics including yields, market value, est rates may decrease the value of fi xed income securities (bonds); 3) credit risk which refl ects the book value and duration. The data is provided for general informational purposes and the potential that the issuer of fi xed income securities will be unable to make the required payments of return received may be higher or lower than the crediting rate provided. interest and/or principal when due. Morley Capital Management seeks to mitigate Investment Con- 2. Average Credit Quality – Represents an average of the market value dollar weighted tract and credit risk by investing only in investment grade securities. Morley Capital Management’s credit quality of the underlying securities in the Fund as obtained by applicable credit rat- credit research team continually analyzes the credit standing and outlook of investments in the ing agencies. The Fund itself has not been rated by these agencies. Average credit quality Fund seeking to identify investment options with the best risk/return characteristics consistent with calculation methodologies may vary across the industry which may impact the validity of the Fund’s investment objective. Please review the Morley Stable Value Fund Disclosure document comparisons. for additional information regarding Fund structure, investment objective and strategy, risks and expenses and carefully consider such factors before investing. 3. Average Duration – Represents the average dollar weighted eff ective duration of the underlying securities in the Fund. Duration is a measure of the price sensitivity of a fi xed- The Fund is not a deposit, obligation, guaranteed or insured by PGI Trust Co. or any affi liate, is not in- income security or portfolio to a change in interest rates and is commonly presented in sured by the Federal Deposit Insurance Corporation (FDIC) or any other federal or state government years. The longer the duration the more sensitivity the Fund or security is expected to have agency. Neither the Fund nor the off ering of the Units has been registered under the U.S. securities to interest rate changes. laws. Therefore, investors will not have the benefi t of the protections for registered securities af- forded by the Securities and Exchange Commission (“SEC”). 4. Market/Book Value Ratio – Represents a measurement of the market value of the Fund’s underlying securities as compared to the Fund’s book value; typically quoted as a percent- age. Generally, participant transactions occur at book value even if the market value is Fees and Expenses above or below the book value. 5. Turnover Ratio – A measure of trading activity during the previous 12 months, expressed Fees and expenses associated with the Fund include Stable Value Investment Contract Fees, Sub-Ad- as a percentage of the average total assets of the Fund. The resulting percentage loosely viser Fees, Acquired Fund Fees, and Other Expenses which are collectively referred to as Fund Level represents the percentage of the portfolio’s holdings that have changed over the past 12 Expenses. The Fund also incurs a Trustee/Adviser Fee and may incur a Service Provider Off set if months. For the purposes of calculating turnover, investments in other pooled products selected by the investing Plan/Trust. The combination of all of these fees represents the Total Fund including other collective investment trusts, or separate account contracts, are treated as a Operating Expenses for the Fund. single transaction and do not account for the underlying trading activity within these prod- Fund Level Expenses are variable and will fl uctuate daily based on factors such as total Fund as- ucts. sets, assets associated with specifi c Stable Value Investment Contracts or sub-advisers, and the uti- 6. Book Value Accounting – An accounting methodology associated with Stable Value lization and cost of applicable services. Fund Level Expenses have already been factored into the Funds which allows the Funds to amortize market value gains and losses over time through Fund’s gross performance. In contrast the Trustee/Adviser Fee and the Service Provider Off set are the Fund’s crediting rate thus providing capital preservation. generally static and are only altered by direct action from the Trustee or an election by the investing Plan/Trust to amend the Service Provider Off set. The Fund’s gross performance is reduced by the 7. Stable Value Investment Contracts – (also known as Investment Contracts or Wrap Con- applicable Trustee/Adviser Fee and Service Provider Off set to produce the Fund’s net performance. tracts) Contracts issued by insurance companies, banks, and other fi nancial institutions that provide book value accounting treatment for the Fund. These contracts are designed to Expense information is updated monthly and may not match expenses provided by applicable re- provide capital preservation and permit benefi t-responsive transactions at book value. In- cordkeeper. vestment Contracts do not insure the value of the Fund and are not insurance against Fund losses but rather by applying Book Value Accounting standards permit the amortization of Annualized Fees as of June 30, 2017 gains and losses over time through the crediting rate thus providing capital preservation. Typical examples of these contracts include Guaranteed Investment Contracts (GICs), Bank Stable Value Investment Contract Fees (Wrap Fees)8 0.22% Investment Contracts (BICs), Synthetic Investment Contracts (SICs), Separate Account Sub-Adviser Fees9 0.06% Contracts (SACs). Acquired Fund Fees10 0.01% 8. Stable Value Investment Contract Fees – Fees assessed by the fi nancial institutions is- suing the stable value investment contracts (wrap contracts) in which the Fund invests. Other Expenses11 0.02% 9. Sub-Adviser Fees – Fees assessed by sub-advisers which provide underlying fi xed income Total Fund Level Expenses 0.30% management for certain portions of the Fund. Fees associated with services provided by MCM are paid directly by the Trustee and are not Fund Level Expenses. Trustee/Adviser Fee12 0.25% 10. Acquired Fund Fees – The Fund invests in other funds which incur their own fees and ex- Service Provider Off set13 0.00% penses associated with fund operations. As a result a pro-rata share of the Other Expense of each underlying fund, as provided in its most recent audited fi nancial report, is reported. Total Fund Operating Expenses 0.55% 11. Other Expenses – Represents fees and expenses associated with Fund operations in- Fee information has been rounded to two decimal places. As a result of this cluding but not limited to, accounting and valuation services, custody services, legal and rounding, individual fees may not sum to the total fee presented. auditing services. 12. Trustee/Adviser Fee – Paid to the Trustee of the Fund for trustee and investment advi- sory services. Breakpoints associated with this fee reduce costs based upon total invested Additional Information assets of the investing Plan/Trust. Data provided is for general informational purposes only is not intended to be used for auditing 13. Service Provider Off set – A fee option that may be selected by the Plan/Trust investing purposes and may not represent a complete accounting of all holdings within the portfolio. The in the Fund. The fee is used by the investing Plan/Trust to pay for certain qualifi ed expenses information should not be considered as investment, legal, accounting, or tax advice or a recom- including but not limited to recordkeeping and administrative costs. mendation of any particular security, strategy, or investment product and it does not take into ac- count the investment objectives, fi nancial situation, or needs of any particular investor. Investors should consider whether the Fund is suitable for their particular circumstances and, if necessary, Based upon the structure of various investment options (e.g. collective investment trusts, seek professional advice before investing. insurance company separate account contracts, or individually managed accounts), the client may or may not have direct fractional ownership of the underlying securities. Certain data including sector diversifi cation, credit quality, and duration distribution, has been obtained from each investment manager, including Morley Capital Management and various sub- Market indices have been provided for comparison purposes only. They are unmanaged advisers and has been calculated based upon their internal calculation methodologies. The data is and do not refl ect any fees or expenses. Individuals cannot invest directly in an index. The current as of the date listed, and is subject to change without notice. While generally deemed reli- iMoneyNet All-Taxable Money Market Fund Index measures the equally weighted returns able, it has not been verifi ed for accuracy or calculation methodologies and the accuracy of the data of the largest taxable money market funds. The Bloomberg Barclays 1-3 Year Govt Bond cannot be guaranteed. Index measures the returns of investment grade, dollar denominated bonds publicly is- sued by the U.S. Govt, with a maturity of over 1, and less than 3 years. Morley Capital Management calculates average portfolio credit quality statistics via the aggregat- ed market value weighted average credit quality of securities within the portfolio including GICs, Direct investment in the Fund is limited to Participating Trusts (also known as investing wrapped securities, and cash equivalents for the assets it directly manages. In the event of split Plan/Trust) that meet certain requirements described in the Declaration of Trust, that en- ratings for any single investment (as provided by S&P, Moody’s and Fitch), the following shall apply: ter into a Participation Agreement with the Trustee. The Fund cannot accept investment (a) where only two rating agencies rate the investment, the lower of the two ratings shall apply, or directly from individuals and is subject to restrictions regarding transfer and withdrawal of (b) where three ratings agencies rate the investment, the median rating shall apply. Ratings are assets including potential deferral of withdrawal requests by up to 12 months, as defi ned converted to equivalent S&P reporting styles. in the applicable Declaration of Trust. Vanguard Tot Bd;Inst 0 Data updated as of 09/30/2015 Fund Overview Fund Full Name Vanguard Bond Index Funds: Vanguard Total Bond Market NASDAQ Ticker Symbol VBTIX Inception Date 09/18/1995 Index Fund; Institutional Shares Asset Type Fixed Income Funds Fund Manager Joshua C. Barrickman Total Net Assets ($M) 29319.8 Fund Manager Tenure 2013 Lipper Classification Gross Expense Ratio (%) 0.06 Management Company Core Bond Funds Net Expense Ratio (%) 0.06 Vanguard Group Inc 100 Vanguard Boulevard Portfolio Turnover Percent 72 Malvern PA 19355 Investment Policy 800-662-7447 The Fund seeks to generate returns that track the performance of the Barclays U.S. Aggregate Float Adjusted Index, and will maintain a dollar-weighted average maturity consistent with that of the index. The Index measures investment-grade, taxable fixed income securities in the U.S. Trailing Performance 09/30/2015
Cumulative (%) Annualized (%) Growth of $10,000 Investment Quarter Year Since 16 to Date to Date 1 Year 3 Year 5 Year 10 Year Incep. 15 Vanguard Tot Bd;Inst 1.18 1.02 2.76 1.59 3.00 4.63 5.50 14 Broad Based Index: Barclays US Agg TRIX 1.23 1.13 2.94 1.71 3.10 4.64 -- 13 Best Fit Index: Barclays US Agg TRIX 1.23 1.13 2.94 1.71 3.10 4.64 -- 12 Peer Group Average: Lipper Core Bond Average 0.54 0.52 1.74 1.49 3.04 4.14 -- 11 10 9 05 06 07 08 09 10 11 12 13 14 15 Calendar Year Performance 12/31/2014
2010 2011 2012 2013 2014 Vanguard Tot Bd;Inst Barclays US Agg TRIX $15,727 $15,733 Vanguard Tot Bd;Inst 6.58 7.72 4.18 -2.13 5.91 Broad Based Index: Barclays US Agg TRIX 6.54 7.84 4.22 -2.02 5.97 Top Security Types as of 06/30/15 Best Fit Index: Barclays US Agg TRIX 6.54 7.84 4.22 -2.02 5.97
Holding Name Percent of Assets TREASURY NOTES/BONDS 39.97 CORPORATE NOTES/BONDS 30.09 Risk Analysis (3 Year) 09/30/2015 GNMA AND OTHER MTG BACKED 22.90
GOVERNMENT AGENCY SECURITIES 3.23 These statistics are measured against the Fund's broad based index: Barclays US Agg TRIX US$ DENOMINATED FGN. GVT. 1.92 ASSET BACKED SECURITIES 0.76 Alpha: -0.01 Beta: 1.03 Standard Deviation: 2.96 Sharpe Ratio: 0.53 FGN. CURRENCY DENOMINATED BONDS 0.05 Alpha measures Beta measuresa a portfolio's Standard deviation is Aa measure that uses manager's contribution to sensitivity to marketmeasure of risk that gauges standard deviation and performance due movementsto in the broad the variability of actualexcess return to determine security selection or market based index. returns from their expected reward per unit of risk. Percent of Assets in Top Security Type(s) 98.92 timing relative to the broad values and the dispersion of based index. these variations over time. Asset Allocation as of 06/30/15
Fixed Income 98.87 Best 3 Month Period Worst 3 Month Period Performance Date Performance Date Cash 4.80 Vanguard Tot Bd;Inst 3.11 01/31/2015 -3.11 07/31/2013 Other -3.67 Broad Based Index: Barclays US Agg TRIX 2.92 01/31/2015 -3.17 07/31/2013 Best Fit Index: Barclays US Agg TRIX 2.92 01/31/2015 -3.17 07/31/2013
Other Key Facts About This Fund Quality Analysis as of 06/30/15 Current NAV 10.78 Yield - 30 Days (%) 2.21 Holding Name Percent of Assets Short Term Securities 4.75 Yield - 12 Months (%) 2.46 AAA Bonds 68.00 AA Bonds 6.28
Fund fact sheet not valid without Disclaimer Page. Investment return and value of shares fluctuate and past A Bonds 12.88 performance is not a guarantee of future results. Your account balance and the returns on your account are BBB Bonds 11.71 based on the investment options you have selected. To maintain the tax benefits of the Plan, your accounts BB Bonds 0.00 are an obligation of the sponsoring corporation to you and do not represent a direct ownership inB Bondsthe 0.00 investment options, Rabbi Trust, or other assets of the Plan sponsor. CCC Bonds 0.00 Date of first use: 10/20/15 CC Bonds 0.00 C Bonds 0.00 Lipper, a Thomson Reuters Company. Copyright 2015 Thomson Reuters. All rights reserved. Any copying,D Bonds 0.00 republication or redistribution of Lipper content is expressly prohibited without the prior written consent of Quality Not Rated 0.00 Lipper. Lipper Fund Fact Sheets Service; Product ID: D1v2.4. Other -3.67 Foreign currencies 0.05
Oo DFA Infl-Prot Secs;I Data updated as of 06/30/2017 Fund Overview Fund Full Name DFA Investment Dimensions Group Inc: DFA NASDAQ Ticker Symbol DIPSX Inception Date 09/18/2006 Inflation-Protected Securities Portfolio; Institutional Class Asset Type Fixed Income Funds Fund Manager Clark/Kolerich Shares Total Net Assets ($M) 4075.9 Fund Manager Tenure 2006, 2012 Gross Expense Ratio (%) 0.12 Management Company Lipper Classification Net Expense Ratio (%) 0.12 Dimensional Fund Advisors LP Inflation Protected Bond Funds 6300 Bee Cave Road Building One Portfolio Turnover Percent 19 Austin TX 78746 800-366-7266 Investment Policy The Fund seeks to provide inflation-protection and earn current income. The Fund will invest primarily in inflation-protected debt securities issued by the U.S. Treasury, but may also invest in inflation-protected debt securities Trailing Performance 06/30/2017 issued by U.S. Government agencies and instrumentalities.
Cumulative (%) Annualized (%) Growth of $10,000 Investment Quarter Year Since to Date to Date 1 Year 3 Year 5 Year 10 Year Incep. 16 DFA Infl-Prot Secs;I -0.34 1.16 -0.89 0.67 0.22 4.51 4.27 15 Broad Based Index: BBG Barc US Agg TRIX 1.45 2.27 -0.31 2.48 2.21 4.48 -- 14 Best Fit Index: BBG Barc US TIPS TRIX -0.40 0.85 -0.63 0.63 0.27 4.27 -- 13 Peer Group Average: Lipper Infl Protected Average -0.47 0.69 0.23 -0.04 -0.10 3.31 -- 12 11 10 Calendar Year Performance 12/31/2016 07 08 09 10 11 12 13 14 15 16 17
2012 2013 2014 2015 2016 DFA Infl-Prot Secs;I BBG Barc US TIPS TRIX DFA Infl-Prot Secs;I 7.45 -9.27 3.37 -1.22 4.67 $15,541 $15,195 Broad Based Index: BBG Barc US Agg TRIX 4.22 -2.02 5.97 0.55 2.65 Best Fit Index: BBG Barc US TIPS TRIX 6.98 -8.60 3.64 -1.44 4.68 Top Holdings as of 01/31/17
Holding Name Percent of Assets US TREASURY 0.250% 15-JAN-2025 7.64 06/30/2017 US TREASURY 0.125% 15-JAN-2022 7.55 Risk Analysis (3 Year) US TREASURY 0.125% 15-JAN-2023 7.11
These statistics are measured against the Fund's broad based index: BBG Barc US Agg TRIX US TREASURY 0.625% 15-JAN-2026 6.24 US TREASURY 0.625% 15-JAN-2024 6.03 Alpha: -0.17 Beta: 1.35 Standard Deviation: 4.79 Sharpe Ratio: 0.33 US TREASURY 0.125% 15-JUL-2024 6.00 US TREASURY 3.875% 15-APR-2029 5.96 Alpha measures Beta measuresa a portfolio's Standard deviation is Aa measure that uses manager's contribution to sensitivity to marketmeasure of risk that gauges standard deviation andUS TREASURY 2.375% 15-JAN-2025 5.88 performance due movementsto in the broad the variability of actualexcess return to determine US TREASURY 0.375% 15-JUL-2025 5.86 security selection or market based index. returns from their expected reward per unit of risk. US TREASURY 0.375% 15-JUL-2023 5.75 timing relative to the broad values and the dispersion of Percent of Assets in Top Security Type(s) 64.02 based index. these variations over time. Asset Allocation as of 01/31/17
Best 3 Month Period Worst 3 Month Period Fixed Income 99.94 Performance Date Performance Date Cash 0.20 DFA Infl-Prot Secs;I 5.01 03/31/2016 -2.98 12/31/2016 Other -0.14
Broad Based Index: BBG Barc US Agg TRIX 3.03 03/31/2016 -3.17 11/30/2016 Best Fit Index: BBG Barc US TIPS TRIX 4.46 03/31/2016 -2.41 12/31/2016
Other Key Facts About This Fund
Current NAV 11.69 Quality Analysis as of 01/31/17
Yield - 30 Days (%) 0.25 Holding Name Percent of Assets Yield - 12 Months (%) 2.33 AAA 51.57 AA 48.16
Fund fact sheet not valid without Disclaimer Page. Past performance is no guarantee of future results. Investment return and value of shares will fluctuate, so those shares, when redeemed, may be worth more or less than their original cost. This report is not authorized for distribution unless accompanied or preceded by a current prospectus of the fund. Call 800-366-7266 for the most recent month-end performance results. The prospectus contains important information of the fund, including its management fees, sales charges, and other expenses. Please read the prospectus carefully before you invest or send money. Date of first use: 07/19/17
Lipper, a Thomson Reuters Company. Copyright 2017 Thomson Reuters. All rights reserved. Any copying, republication or redistribution of Lipper content is expressly prohibited without the prior written consent of Lipper. Lipper Fund Fact Sheets Service; Product ID: D1v2.4.
Oo MFS Emerg Mkt Debt;R6 Data updated as of 06/30/2017 Fund Overview Fund Full Name MFS Series Trust X: MFS Emerging Markets Debt Fund; Class NASDAQ Ticker Symbol MEDHX Inception Date 05/01/2006 R6 Shares Asset Type Fixed Income Funds Fund Manager Ryan/Brown Total Net Assets ($M) 851 Fund Manager Tenure 2006, 2008 Lipper Classification Gross Expense Ratio (%) 0.74 Management Company Emerging Mrkts Hard Currency Debt Funds Net Expense Ratio (%) 0.74 MFS Investment Management 111 Huntington Avenue Portfolio Turnover Percent 67 Boston MA 02199 Investment Policy 800-225-2606 The Fund seeks to invest, under normal market conditions, at least 65% of its total assets in fixed income securities of government related, supranational and corporate issuers located in emerging market countries. Trailing Performance 06/30/2017
Cumulative (%) Annualized (%) Growth of $10,000 Investment Quarter Year Since 22 to Date to Date 1 Year 3 Year 5 Year 10 Year Incep. 20 MFS Emerg Mkt Debt;R6 2.09 5.80 5.82 3.82 4.77 6.80 7.12 18 Broad Based Index: BBG Barc US Agg TRIX 1.45 2.27 -0.31 2.48 2.21 4.48 -- 16 Best Fit Index: BofAML BBB&L EMEA S TRIX 2.26 6.06 5.54 5.05 6.37 7.75 -- 14 Peer Group Average: Lipper Emg Mkts HC Debt Average 2.13 6.63 7.77 2.57 3.82 6.10 -- 12 10 8 07 08 09 10 11 12 13 14 15 16 17 Calendar Year Performance 12/31/2016
2012 2013 2014 2015 2016 MFS Emerg Mkt Debt;R6 BofAML BBB&L EMEA S TRIX $19,305 $21,084 MFS Emerg Mkt Debt;R6 19.19 -6.12 4.73 -0.39 9.65 Broad Based Index: BBG Barc US Agg TRIX 4.22 -2.02 5.97 0.55 2.65 Top Holdings as of 05/31/17 Best Fit Index: BofAML BBB&L EMEA S TRIX 20.52 -2.79 6.61 4.14 6.55
Holding Name Percent of Assets MFS INSTITUTIONAL MONEY MARKET PORTFOLIO 11.48 ARGENTINA 7.125% 06-JUL-2036 1.39 Risk Analysis (3 Year) 06/30/2017 ARGENTINA 6.875% 26-JAN-2027 1.26
RUSSIAN FEDRTN 4.500% 04-APR-2022 1.02 These statistics are measured against the Fund's broad based index: BBG Barc US Agg TRIX VENEZUELA 7.000% 31-MAR-2038 0.97 STATE GRID OVRSE 3.500% 04-MAY-2027 0.94 Alpha: 0.15 Beta: 0.90 Standard Deviation: 5.83 Sharpe Ratio: 0.74 JANUB GAZ DAHLIZ 6.875% 24-MAR-2026 0.89 Alpha measures Beta measuresa a portfolio's Standard deviation is Aa measure that usesNK KAZMUNAYGAZ AO 4.750% 19-APR-2027 0.85 manager's contribution to sensitivity to marketmeasure of risk that gauges standard deviation andARGENTINA 5.625% 26-JAN-2022 0.83 performance due movementsto in the broad the variability of actualexcess return to determine MEXICO 4.000% 02-OCT-2023 0.77 security selection or market based index. returns from their expected reward per unit of risk. Percent of Assets in Top Security Type(s) 20.40 timing relative to the broad values and the dispersion of based index. these variations over time. Asset Allocation as of 05/31/17
Fixed Income 94.55 Best 3 Month Period Worst 3 Month Period Performance Date Performance Date Cash 4.97 MFS Emerg Mkt Debt;R6 6.96 04/30/2016 -4.22 11/30/2016 Other 0.42 Broad Based Index: BBG Barc US Agg TRIX 3.03 03/31/2016 -3.17 11/30/2016 Equity 0.06 Best Fit Index: BofAML BBB&L EMEA S TRIX 4.43 08/31/2016 -3.57 11/30/2016
Other Key Facts About This Fund Quality Analysis as of 05/31/17 Current NAV 14.91 Yield - 30 Days (%) 0.04 Holding Name Percent of Assets BB 30.20 Yield - 12 Months (%) 4.70 BBB 26.24 B 18.38
Fund fact sheet not valid without Disclaimer Page. Past performance is no guarantee of future results. Quality Not Rated 5.40 Investment return and value of shares will fluctuate, so those shares, when redeemed, may be worth more or A 4.61 less than their original cost. This report is not authorized for distribution unless accompanied or preceded by CCC 2.96 a current prospectus of the fund. Call 800-225-2606 for the most recent month-end performance results. The AA 1.82 prospectus contains important information of the fund, including its management fees, sales charges, andD 0.13 other expenses. Please read the prospectus carefully before you invest or send money. CC 0.07 Date of first use: 07/19/17
Lipper, a Thomson Reuters Company. Copyright 2017 Thomson Reuters. All rights reserved. Any copying, republication or redistribution of Lipper content is expressly prohibited without the prior written consent of Lipper. Lipper Fund Fact Sheets Service; Product ID: D1v2.4.
Oo T Rowe Price Ret:IBal;I Data updated as of 06/30/2017 Fund Overview Fund Full Name T Rowe Price Retirement Funds, Inc: T Rowe Price Retirement NASDAQ Ticker Symbol TRPTX Inception Date 09/29/2015 I Balanced Fund; Class I Shares Asset Type Mixed Equity Funds Fund Manager Clark/Lee Total Net Assets ($M) 182.9 Fund Manager Tenure 2015, 2015 Lipper Classification Gross Expense Ratio (%) 2.22 Management Company Mixed-Asset Target Today Funds Net Expense Ratio (%) 0.43 T. Rowe Price Associates Inc 100 East Pratt Street Portfolio Turnover Percent 13 Baltimore MD 21202 Investment Policy Average Market Capitalization ($M) 36,468 800-638-8790 The Fund seeks the highest total return over time consistent with an emphasis on both capital growth and income. The Fund invests in a diversified portfolio of other T. Rowe Price stock and bond funds that represent various asset classes and sectors. Its neutral allocations are 40% stock funds and 60% Trailing Performance 06/30/2017 bond funds.
Cumulative (%) Annualized (%) Growth of $10,000 Investment Quarter Year Since to Date to Date 1 Year 3 Year 5 Year 10 Year Incep. 11.5 T Rowe Price Ret:IBal;I 2.00 5.50 7.85 ------8.44 Broad Based Index: N/A Data Not Available 11 Best Fit Index: N/A Data Not Available 10.5 Peer Group Average: Lipper Mixed-Asset Targ Today Average 1.86 4.60 5.74 2.64 4.38 3.83 -- 10 9.5 Calendar Year Performance 12/31/2016 15 16
2012 2013 2014 2015 2016 T Rowe Price Ret:IBal;I N/A T Rowe Price Ret:IBal;I ------6.45 $11,424 -- Broad Based Index: N/A ------Best Fit Index: N/A ------Top Holdings as of 03/31/17
Holding Name Percent of Assets T ROWE PRICE LIMITED DURATION INFLATION FOC BD;I 30.01 06/30/2017 T ROWE PRICE NEW INCOME FUND;I 21.01 Risk Analysis (3 Year) T ROWE PRICE EQUITY INDEX 500 FUND;I 20.72
These statistics are measured against the Fund's broad based index: N/A T ROWE PRICE OVERSEAS STOCK FUND;I 3.62 T ROWE PRICE INTERNATIONAL VALUE EQUITY FD;I 3.53 Alpha: -- Beta: -- Standard Deviation: -- Sharpe Ratio: -- T ROWE PRICE INTERNATIONAL STOCK FUND;I 3.38 T ROWE PRICE HIGH YIELD FUND;I 3.33 Alpha measures Beta measuresa a portfolio's Standard deviation is Aa measure that uses manager's contribution to sensitivity to marketmeasure of risk that gauges standard deviation andT ROWE PRICE EMERGING MARKETS BOND FUND;I 3.06 performance due movementsto in the broad the variability of actualexcess return to determine T ROWE PRICE INTERNATIONAL BOND FUND;I 2.50 security selection or market based index. returns from their expected reward per unit of risk. T ROWE PRICE MID-CAP VALUE FUND;I 1.55 timing relative to the broad values and the dispersion of Percent of Assets in Top Holdings 92.71 based index. these variations over time. Asset Allocation as of 03/31/17
Best 3 Month Period Worst 3 Month Period Fixed Income 58.74 Performance Date Performance Date Equity 39.17 T Rowe Price Ret:IBal;I ------Other 1.44 Broad Based Index: N/A ------Best Fit Index: N/A ------Cash 0.65
Other Key Facts About This Fund
Current NAV 11.13 Number of Equities Held 18 Yield - 30 Days (%) 0.00 Average Price to Earnings 10.51 Top Sectors by Percent1 as of 03/31/17 Yield - 12 Months (%) 1.64 Average Price to Book 1.88 Financials 8.74
Fund fact sheet not valid without Disclaimer Page. Past performance is no guarantee of future results. Industrials 5.10 Investment return and value of shares will fluctuate, so those shares, when redeemed, may be worth more or Technology 5.08 less than their original cost. This report is not authorized for distribution unless accompanied or preceded by Consumer Services 4.75 a current prospectus of the fund. Call 800-638-8790 for the most recent month-end performance results. The Health Care 4.63 prospectus contains important information of the fund, including its management fees, sales charges, and Consumer Goods 4.29 other expenses. Please read the prospectus carefully before you invest or send money. Oil & Gas 2.27
Date of first use: 07/20/17 Basic Materials 1.71 Telecommunications 1.24 Lipper, a Thomson Reuters Company. Copyright 2017 Thomson Reuters. All rights reserved. Any copying, Utilities 1.11 republication or redistribution of Lipper content is expressly prohibited without the prior written consent of Lipper. Lipper Fund Fact Sheets Service; Product ID: D1v2.4.
1 Sector weightings are based on Industry Classification Benchmark (ICB) Industries.
Oo T Rowe Price Ret:I2010;I Data updated as of 06/30/2017 Fund Overview Fund Full Name T Rowe Price Retirement Funds, Inc: T Rowe Price Retirement NASDAQ Ticker Symbol TRPAX Inception Date 09/29/2015 I 2010 Fund; Class I Shares Asset Type Mixed Equity Funds Fund Manager Clark/Lee Total Net Assets ($M) 319.3 Fund Manager Tenure 2015, 2015 Lipper Classification Gross Expense Ratio (%) 1.20 Management Company Mixed-Asset Target 2010 Funds Net Expense Ratio (%) 0.44 T. Rowe Price Associates Inc 100 East Pratt Street Portfolio Turnover Percent 13 Baltimore MD 21202 Investment Policy Average Market Capitalization ($M) 40,013 800-638-8790 The Fund seeks the highest total return over time consistent with an emphasis on both capital growth and income. The Fund invests in a diversified portfolio of other T. Rowe Price stock and bond funds that represent various asset classes and sectors. It is managed based on the specific retirement year Trailing Performance 06/30/2017 (target date 2010).
Cumulative (%) Annualized (%) Growth of $10,000 Investment Quarter Year Since to Date to Date 1 Year 3 Year 5 Year 10 Year Incep. 12 T Rowe Price Ret:I2010;I 2.50 6.30 8.82 ------9.56 11.5 Broad Based Index: N/A Data Not Available Best Fit Index: N/A Data Not Available 11 Peer Group Average: Lipper Mix-Asst Targ 2010 Average 2.04 5.19 7.28 3.24 5.88 3.84 -- 10.5 10 9.5 Calendar Year Performance 12/31/2016 15 16
2012 2013 2014 2015 2016 T Rowe Price Ret:I2010;I N/A T Rowe Price Ret:I2010;I ------7.18 $11,630 -- Broad Based Index: N/A ------Best Fit Index: N/A ------Top Holdings as of 03/31/17
Holding Name Percent of Assets T ROWE PRICE NEW INCOME FUND;I 28.44 06/30/2017 T ROWE PRICE EQUITY INDEX 500 FUND;I 22.72 Risk Analysis (3 Year) T ROWE PRICE LIMITED DURATION INFLATION FOC BD;I 15.62
These statistics are measured against the Fund's broad based index: N/A T ROWE PRICE HIGH YIELD FUND;I 4.49 T ROWE PRICE EMERGING MARKETS BOND FUND;I 4.11 Alpha: -- Beta: -- Standard Deviation: -- Sharpe Ratio: -- T ROWE PRICE OVERSEAS STOCK FUND;I 3.98 T ROWE PRICE INTERNATIONAL VALUE EQUITY FD;I 3.89 Alpha measures Beta measuresa a portfolio's Standard deviation is Aa measure that uses manager's contribution to sensitivity to marketmeasure of risk that gauges standard deviation andT ROWE PRICE INTERNATIONAL STOCK FUND;I 3.72 performance due movementsto in the broad the variability of actualexcess return to determine T ROWE PRICE INTERNATIONAL BOND FUND;I 3.34 security selection or market based index. returns from their expected reward per unit of risk. T ROWE PRICE MID-CAP VALUE FUND;I 1.69 timing relative to the broad values and the dispersion of Percent of Assets in Top Holdings 92.00 based index. these variations over time. Asset Allocation as of 03/31/17
Best 3 Month Period Worst 3 Month Period Fixed Income 54.47 Performance Date Performance Date Equity 42.96 T Rowe Price Ret:I2010;I ------Other 1.77 Broad Based Index: N/A ------Best Fit Index: N/A ------Cash 0.80
Other Key Facts About This Fund
Current NAV 11.48 Number of Equities Held 18 Yield - 30 Days (%) 0.00 Average Price to Earnings 11.52 Top Sectors by Percent1 as of 03/31/17 Yield - 12 Months (%) 1.31 Average Price to Book 2.06 Financials 9.59
Fund fact sheet not valid without Disclaimer Page. Past performance is no guarantee of future results. Industrials 5.59 Investment return and value of shares will fluctuate, so those shares, when redeemed, may be worth more or Technology 5.57 less than their original cost. This report is not authorized for distribution unless accompanied or preceded by Consumer Services 5.20 a current prospectus of the fund. Call 800-638-8790 for the most recent month-end performance results. The Health Care 5.08 prospectus contains important information of the fund, including its management fees, sales charges, and Consumer Goods 4.71 other expenses. Please read the prospectus carefully before you invest or send money. Oil & Gas 2.49
Date of first use: 07/20/17 Basic Materials 1.87 Telecommunications 1.36 Lipper, a Thomson Reuters Company. Copyright 2017 Thomson Reuters. All rights reserved. Any copying, Utilities 1.22 republication or redistribution of Lipper content is expressly prohibited without the prior written consent of Lipper. Lipper Fund Fact Sheets Service; Product ID: D1v2.4.
1 Sector weightings are based on Industry Classification Benchmark (ICB) Industries.
Oo T Rowe Price Ret:I2015;I Data updated as of 06/30/2017 Fund Overview Fund Full Name T Rowe Price Retirement Funds, Inc: T Rowe Price Retirement NASDAQ Ticker Symbol TRFGX Inception Date 09/29/2015 I 2015 Fund; Class I Shares Asset Type Mixed Equity Funds Fund Manager Clark/Lee Total Net Assets ($M) 576.6 Fund Manager Tenure 2015, 2015 Lipper Classification Gross Expense Ratio (%) 0.97 Management Company Mixed-Asset Target 2015 Funds Net Expense Ratio (%) 0.47 T. Rowe Price Associates Inc 100 East Pratt Street Portfolio Turnover Percent 15 Baltimore MD 21202 Investment Policy Average Market Capitalization ($M) 47,636 800-638-8790 The Fund seeks the highest total return over time consistent with an emphasis on both capital growth and income. The Fund invests in a diversified portfolio of other T. Rowe Price stock and bond funds that represent various asset classes and sectors. It is managed based on the specific retirement year Trailing Performance 06/30/2017 (target date 2015).
Cumulative (%) Annualized (%) Growth of $10,000 Investment Quarter Year Since to Date to Date 1 Year 3 Year 5 Year 10 Year Incep. 12 T Rowe Price Ret:I2015;I 2.82 7.26 10.53 ------10.65 11.5 Broad Based Index: N/A Data Not Available Best Fit Index: N/A Data Not Available 11 Peer Group Average: Lipper Mixed-Asset Target 2015 Average 2.23 5.76 8.32 3.49 6.72 4.19 -- 10.5 10 9.5 Calendar Year Performance 12/31/2016 15 16
2012 2013 2014 2015 2016 T Rowe Price Ret:I2015;I N/A T Rowe Price Ret:I2015;I ------7.25 $11,812 -- Broad Based Index: N/A ------Best Fit Index: N/A ------Top Holdings as of 03/31/17
Holding Name Percent of Assets T ROWE PRICE NEW INCOME FUND;I 25.64 06/30/2017 T ROWE PRICE EQUITY INDEX 500 FUND;I 22.91 Risk Analysis (3 Year) T ROWE PRICE LIMITED DURATION INFLATION FOC BD;I 11.57
These statistics are measured against the Fund's broad based index: N/A T ROWE PRICE OVERSEAS STOCK FUND;I 4.70 T ROWE PRICE INTERNATIONAL VALUE EQUITY FD;I 4.61 Alpha: -- Beta: -- Standard Deviation: -- Sharpe Ratio: -- T ROWE PRICE INTERNATIONAL STOCK FUND;I 4.38 T ROWE PRICE HIGH YIELD FUND;I 4.03 Alpha measures Beta measuresa a portfolio's Standard deviation is Aa measure that uses manager's contribution to sensitivity to marketmeasure of risk that gauges standard deviation andT ROWE PRICE EMERGING MARKETS BOND FUND;I 3.71 performance due movementsto in the broad the variability of actualexcess return to determine T ROWE PRICE INTERNATIONAL BOND FUND;I 2.95 security selection or market based index. returns from their expected reward per unit of risk. T ROWE PRICE GROWTH STOCK FUND;I 2.71 timing relative to the broad values and the dispersion of Percent of Assets in Top Holdings 87.21 based index. these variations over time. Asset Allocation as of 03/31/17
Best 3 Month Period Worst 3 Month Period Equity 50.86 Performance Date Performance Date Fixed Income 46.53 T Rowe Price Ret:I2015;I ------Other 1.85 Broad Based Index: N/A ------Best Fit Index: N/A ------Cash 0.75
Other Key Facts About This Fund
Current NAV 11.67 Number of Equities Held 20 Yield - 30 Days (%) 0.00 Average Price to Earnings 13.88 Top Sectors by Percent1 as of 03/31/17 Yield - 12 Months (%) 1.24 Average Price to Book 2.49 Financials 11.38
Fund fact sheet not valid without Disclaimer Page. Past performance is no guarantee of future results. Technology 6.70 Investment return and value of shares will fluctuate, so those shares, when redeemed, may be worth more or Industrials 6.51 less than their original cost. This report is not authorized for distribution unless accompanied or preceded by Consumer Services 6.46 a current prospectus of the fund. Call 800-638-8790 for the most recent month-end performance results. The Health Care 6.06 prospectus contains important information of the fund, including its management fees, sales charges, and Consumer Goods 5.43 other expenses. Please read the prospectus carefully before you invest or send money. Oil & Gas 2.81
Date of first use: 07/20/17 Basic Materials 2.16 Telecommunications 1.53 Lipper, a Thomson Reuters Company. Copyright 2017 Thomson Reuters. All rights reserved. Any copying, Utilities 1.45 republication or redistribution of Lipper content is expressly prohibited without the prior written consent of Lipper. Lipper Fund Fact Sheets Service; Product ID: D1v2.4.
1 Sector weightings are based on Industry Classification Benchmark (ICB) Industries.
Oo T Rowe Price Ret:I2020;I Data updated as of 06/30/2017 Fund Overview Fund Full Name T Rowe Price Retirement Funds, Inc: T Rowe Price Retirement NASDAQ Ticker Symbol TRBRX Inception Date 09/29/2015 I 2020 Fund; Class I Shares Asset Type Mixed Equity Funds Fund Manager Clark/Lee Total Net Assets ($M) 1933.5 Fund Manager Tenure 2015, 2015 Lipper Classification Gross Expense Ratio (%) 0.63 Management Company Mixed-Asset Target 2020 Funds Net Expense Ratio (%) 0.51 T. Rowe Price Associates Inc 100 East Pratt Street Portfolio Turnover Percent 8 Baltimore MD 21202 Investment Policy Average Market Capitalization ($M) 56,539 800-638-8790 The Fund seeks the highest total return over time consistent with an emphasis on both capital growth and income. The Fund invests in a diversified portfolio of other T. Rowe Price stock and bond funds that represent various asset classes and sectors. It is managed based on the specific retirement year Trailing Performance 06/30/2017 (target date 2020).
Cumulative (%) Annualized (%) Growth of $10,000 Investment Quarter Year Since to Date to Date 1 Year 3 Year 5 Year 10 Year Incep. 12.5 T Rowe Price Ret:I2020;I 3.38 8.56 12.75 ------12.10 12 Broad Based Index: N/A Data Not Available 11.5 Best Fit Index: N/A Data Not Available 11 Peer Group Average: Lipper Mix-Asst Targ 2020 Average 2.29 5.84 8.47 3.38 6.38 3.69 -- 10.5 10 9.5 Calendar Year Performance 12/31/2016 15 16
2012 2013 2014 2015 2016 T Rowe Price Ret:I2020;I N/A T Rowe Price Ret:I2020;I ------7.57 $12,059 -- Broad Based Index: N/A ------Best Fit Index: N/A ------Top Holdings as of 03/31/17
Holding Name Percent of Assets T ROWE PRICE NEW INCOME FUND;I 22.03 06/30/2017 T ROWE PRICE EQUITY INDEX 500 FUND;I 19.00 Risk Analysis (3 Year) T ROWE PRICE GROWTH STOCK FUND;I 7.55
These statistics are measured against the Fund's broad based index: N/A T ROWE PRICE LIMITED DURATION INFLATION FOC BD;I 6.63 T ROWE PRICE VALUE FUND;I 5.98 Alpha: -- Beta: -- Standard Deviation: -- Sharpe Ratio: -- T ROWE PRICE OVERSEAS STOCK FUND;I 5.61 T ROWE PRICE INTERNATIONAL VALUE EQUITY FD;I 5.40 Alpha measures Beta measuresa a portfolio's Standard deviation is Aa measure that uses manager's contribution to sensitivity to marketmeasure of risk that gauges standard deviation andT ROWE PRICE INTERNATIONAL STOCK FUND;I 5.21 performance due movementsto in the broad the variability of actualexcess return to determine T ROWE PRICE HIGH YIELD FUND;I 3.50 security selection or market based index. returns from their expected reward per unit of risk. T ROWE PRICE EMERGING MARKETS BOND FUND;I 3.21 timing relative to the broad values and the dispersion of Percent of Assets in Top Holdings 84.12 based index. these variations over time. Asset Allocation as of 03/31/17
Best 3 Month Period Worst 3 Month Period Equity 60.44 Performance Date Performance Date Fixed Income 36.78 T Rowe Price Ret:I2020;I ------Other 2.04 Broad Based Index: N/A ------Best Fit Index: N/A ------Cash 0.74
Other Key Facts About This Fund
Current NAV 11.92 Number of Equities Held 20 Yield - 30 Days (%) 0.00 Average Price to Earnings 16.87 Top Sectors by Percent1 as of 03/31/17 Yield - 12 Months (%) 1.30 Average Price to Book 3.00 Financials 13.70
Fund fact sheet not valid without Disclaimer Page. Past performance is no guarantee of future results. Consumer Services 8.08 Investment return and value of shares will fluctuate, so those shares, when redeemed, may be worth more or Technology 8.03 less than their original cost. This report is not authorized for distribution unless accompanied or preceded by Industrials 7.54 a current prospectus of the fund. Call 800-638-8790 for the most recent month-end performance results. The Health Care 7.26 prospectus contains important information of the fund, including its management fees, sales charges, and Consumer Goods 6.23 other expenses. Please read the prospectus carefully before you invest or send money. Oil & Gas 3.18
Date of first use: 07/20/17 Basic Materials 2.44 Utilities 1.82 Lipper, a Thomson Reuters Company. Copyright 2017 Thomson Reuters. All rights reserved. Any copying, Telecommunications 1.67 republication or redistribution of Lipper content is expressly prohibited without the prior written consent of Lipper. Lipper Fund Fact Sheets Service; Product ID: D1v2.4.
1 Sector weightings are based on Industry Classification Benchmark (ICB) Industries.
Oo T Rowe Price Ret:I2025;I Data updated as of 06/30/2017 Fund Overview Fund Full Name T Rowe Price Retirement Funds, Inc: T Rowe Price Retirement NASDAQ Ticker Symbol TRPHX Inception Date 09/29/2015 I 2025 Fund; Class I Shares Asset Type Mixed Equity Funds Fund Manager Clark/Lee Total Net Assets ($M) 1599.3 Fund Manager Tenure 2015, 2015 Lipper Classification Gross Expense Ratio (%) 0.73 Management Company Mixed-Asset Target 2025 Funds Net Expense Ratio (%) 0.54 T. Rowe Price Associates Inc 100 East Pratt Street Portfolio Turnover Percent 7 Baltimore MD 21202 Investment Policy Average Market Capitalization ($M) 63,491 800-638-8790 The Fund seeks the highest total return over time consistent with an emphasis on both capital growth and income. The Fund invests in a diversified portfolio of other T. Rowe Price stock and bond funds that represent various asset classes and sectors. It is managed based on the specific retirement year Trailing Performance 06/30/2017 (target date 2025).
Cumulative (%) Annualized (%) Growth of $10,000 Investment Quarter Year Since to Date to Date 1 Year 3 Year 5 Year 10 Year Incep. 12.5 T Rowe Price Ret:I2025;I 3.85 9.67 14.67 ------13.24 12 Broad Based Index: N/A Data Not Available 11.5 Best Fit Index: N/A Data Not Available 11 Peer Group Average: Lipper Mixed-Asset Target 2025 Average 2.75 7.04 10.71 3.98 7.88 4.25 -- 10.5 10 9.5 Calendar Year Performance 12/31/2016 15 16
2012 2013 2014 2015 2016 T Rowe Price Ret:I2025;I N/A T Rowe Price Ret:I2025;I ------7.56 $12,251 -- Broad Based Index: N/A ------Best Fit Index: N/A ------Top Holdings as of 03/31/17
Holding Name Percent of Assets T ROWE PRICE NEW INCOME FUND;I 18.55 06/30/2017 T ROWE PRICE EQUITY INDEX 500 FUND;I 15.74 Risk Analysis (3 Year) T ROWE PRICE GROWTH STOCK FUND;I 11.41
These statistics are measured against the Fund's broad based index: N/A T ROWE PRICE VALUE FUND;I 9.59 T ROWE PRICE OVERSEAS STOCK FUND;I 6.35 Alpha: -- Beta: -- Standard Deviation: -- Sharpe Ratio: -- T ROWE PRICE INTERNATIONAL VALUE EQUITY FD;I 6.07 T ROWE PRICE INTERNATIONAL STOCK FUND;I 5.85 Alpha measures Beta measuresa a portfolio's Standard deviation is Aa measure that uses manager's contribution to sensitivity to marketmeasure of risk that gauges standard deviation andT ROWE PRICE LIMITED DURATION INFLATION FOC BD;I 3.68 performance due movementsto in the broad the variability of actualexcess return to determine T ROWE PRICE HIGH YIELD FUND;I 2.90 security selection or market based index. returns from their expected reward per unit of risk. T ROWE PRICE EMERGING MARKETS BOND FUND;I 2.70 timing relative to the broad values and the dispersion of Percent of Assets in Top Holdings 82.84 based index. these variations over time. Asset Allocation as of 03/31/17
Best 3 Month Period Worst 3 Month Period Equity 68.03 Performance Date Performance Date Fixed Income 29.03 T Rowe Price Ret:I2025;I ------Other 2.17 Broad Based Index: N/A ------Best Fit Index: N/A ------Cash 0.76
Other Key Facts About This Fund
Current NAV 12.13 Number of Equities Held 20 Yield - 30 Days (%) 0.00 Average Price to Earnings 19.24 Top Sectors by Percent1 as of 03/31/17 Yield - 12 Months (%) 1.24 Average Price to Book 3.40 Financials 15.54
Fund fact sheet not valid without Disclaimer Page. Past performance is no guarantee of future results. Consumer Services 9.36 Investment return and value of shares will fluctuate, so those shares, when redeemed, may be worth more or Technology 9.06 less than their original cost. This report is not authorized for distribution unless accompanied or preceded by Industrials 8.36 a current prospectus of the fund. Call 800-638-8790 for the most recent month-end performance results. The Health Care 8.21 prospectus contains important information of the fund, including its management fees, sales charges, and Consumer Goods 6.85 other expenses. Please read the prospectus carefully before you invest or send money. Oil & Gas 3.47
Date of first use: 07/20/17 Basic Materials 2.67 Utilities 2.11 Lipper, a Thomson Reuters Company. Copyright 2017 Thomson Reuters. All rights reserved. Any copying, Telecommunications 1.78 republication or redistribution of Lipper content is expressly prohibited without the prior written consent of Lipper. Lipper Fund Fact Sheets Service; Product ID: D1v2.4.
1 Sector weightings are based on Industry Classification Benchmark (ICB) Industries.
Oo T Rowe Price Ret:I2030;I Data updated as of 06/30/2017 Fund Overview Fund Full Name T Rowe Price Retirement Funds, Inc: T Rowe Price Retirement NASDAQ Ticker Symbol TRPCX Inception Date 09/29/2015 I 2030 Fund; Class I Shares Asset Type Mixed Equity Funds Fund Manager Clark/Lee Total Net Assets ($M) 2352.9 Fund Manager Tenure 2015, 2015 Lipper Classification Gross Expense Ratio (%) 0.67 Management Company Mixed-Asset Target 2030 Funds Net Expense Ratio (%) 0.57 T. Rowe Price Associates Inc 100 East Pratt Street Portfolio Turnover Percent 7 Baltimore MD 21202 Investment Policy Average Market Capitalization ($M) 70,035 800-638-8790 The Fund seeks the highest total return over time consistent with an emphasis on both capital growth and income. The Fund invests in a diversified portfolio of other T. Rowe Price stock and bond funds that represent various asset classes and sectors. It is managed based on the specific retirement year Trailing Performance 06/30/2017 (target date 2030).
Cumulative (%) Annualized (%) Growth of $10,000 Investment Quarter Year Since to Date to Date 1 Year 3 Year 5 Year 10 Year Incep. 12.5 T Rowe Price Ret:I2030;I 4.24 10.61 16.43 ------14.23 12 Broad Based Index: N/A Data Not Available 11.5 Best Fit Index: N/A Data Not Available 11 Peer Group Average: Lipper Mix-Asst Targ 2030 Average 3.01 7.87 12.31 4.30 8.34 4.07 -- 10.5 10 9.5 Calendar Year Performance 12/31/2016 15 16
2012 2013 2014 2015 2016 T Rowe Price Ret:I2030;I N/A T Rowe Price Ret:I2030;I ------7.77 $12,427 -- Broad Based Index: N/A ------Best Fit Index: N/A ------Top Holdings as of 03/31/17
Holding Name Percent of Assets T ROWE PRICE GROWTH STOCK FUND;I 14.98 06/30/2017 T ROWE PRICE NEW INCOME FUND;I 14.72 Risk Analysis (3 Year) T ROWE PRICE VALUE FUND;I 12.91
These statistics are measured against the Fund's broad based index: N/A T ROWE PRICE EQUITY INDEX 500 FUND;I 12.78 T ROWE PRICE OVERSEAS STOCK FUND;I 7.05 Alpha: -- Beta: -- Standard Deviation: -- Sharpe Ratio: -- T ROWE PRICE INTERNATIONAL VALUE EQUITY FD;I 6.74 T ROWE PRICE INTERNATIONAL STOCK FUND;I 6.48 Alpha measures Beta measuresa a portfolio's Standard deviation is Aa measure that uses manager's contribution to sensitivity to marketmeasure of risk that gauges standard deviation andT ROWE PRICE MID-CAP VALUE FUND;I 2.95 performance due movementsto in the broad the variability of actualexcess return to determine T ROWE PRICE EMERGING MARKETS STOCK FUND;I 2.90 security selection or market based index. returns from their expected reward per unit of risk. T ROWE PRICE MID-CAP GROWTH FUND;I 2.79 timing relative to the broad values and the dispersion of Percent of Assets in Top Holdings 84.30 based index. these variations over time. Asset Allocation as of 03/31/17
Best 3 Month Period Worst 3 Month Period Equity 75.15 Performance Date Performance Date Fixed Income 21.84 T Rowe Price Ret:I2030;I ------Other 2.27 Broad Based Index: N/A ------Best Fit Index: N/A ------Cash 0.74
Other Key Facts About This Fund
Current NAV 12.30 Number of Equities Held 20 Yield - 30 Days (%) 0.00 Average Price to Earnings 21.46 Top Sectors by Percent1 as of 03/31/17 Yield - 12 Months (%) 1.30 Average Price to Book 3.77 Financials 17.27
Fund fact sheet not valid without Disclaimer Page. Past performance is no guarantee of future results. Consumer Services 10.55 Investment return and value of shares will fluctuate, so those shares, when redeemed, may be worth more or Technology 10.03 less than their original cost. This report is not authorized for distribution unless accompanied or preceded by Industrials 9.13 a current prospectus of the fund. Call 800-638-8790 for the most recent month-end performance results. The Health Care 9.11 prospectus contains important information of the fund, including its management fees, sales charges, and Consumer Goods 7.45 other expenses. Please read the prospectus carefully before you invest or send money. Oil & Gas 3.74
Date of first use: 07/20/17 Basic Materials 2.88 Utilities 2.38 Lipper, a Thomson Reuters Company. Copyright 2017 Thomson Reuters. All rights reserved. Any copying, Telecommunications 1.89 republication or redistribution of Lipper content is expressly prohibited without the prior written consent of Lipper. Lipper Fund Fact Sheets Service; Product ID: D1v2.4.
1 Sector weightings are based on Industry Classification Benchmark (ICB) Industries.
Oo T Rowe Price Ret:I2035;I Data updated as of 06/30/2017 Fund Overview Fund Full Name T Rowe Price Retirement Funds, Inc: T Rowe Price Retirement NASDAQ Ticker Symbol TRPJX Inception Date 09/29/2015 I 2035 Fund; Class I Shares Asset Type Mixed Equity Funds Fund Manager Clark/Lee Total Net Assets ($M) 1337.5 Fund Manager Tenure 2015, 2015 Lipper Classification Gross Expense Ratio (%) 0.86 Management Company Mixed-Asset Target 2035 Funds Net Expense Ratio (%) 0.63 T. Rowe Price Associates Inc 100 East Pratt Street Portfolio Turnover Percent 7 Baltimore MD 21202 Investment Policy Average Market Capitalization ($M) 75,239 800-638-8790 The Fund seeks the highest total return over time consistent with an emphasis on both capital growth and income. The Fund invests in a diversified portfolio of other T. Rowe Price stock and bond funds that represent various asset classes and sectors. It is managed based on the specific retirement year Trailing Performance 06/30/2017 (target date 2035).
Cumulative (%) Annualized (%) Growth of $10,000 Investment Quarter Year Since to Date to Date 1 Year 3 Year 5 Year 10 Year Incep. 13 T Rowe Price Ret:I2035;I 4.53 11.36 17.79 ------14.98 12.5 Broad Based Index: N/A Data Not Available 12 Best Fit Index: N/A Data Not Available 11.5 Peer Group Average: Lipper Mixed-Asset Target 2035 Average 3.47 9.01 14.62 4.82 9.40 4.54 -- 11 10.5 10 9.5 Calendar Year Performance 12/31/2016 15 16
2012 2013 2014 2015 2016 T Rowe Price Ret:I2035;I N/A T Rowe Price Ret:I2035;I ------7.68 $12,546 -- Broad Based Index: N/A ------Best Fit Index: N/A ------Top Holdings as of 03/31/17
Holding Name Percent of Assets T ROWE PRICE GROWTH STOCK FUND;I 18.16 06/30/2017 T ROWE PRICE VALUE FUND;I 15.96 Risk Analysis (3 Year) T ROWE PRICE NEW INCOME FUND;I 11.54
These statistics are measured against the Fund's broad based index: N/A T ROWE PRICE EQUITY INDEX 500 FUND;I 9.73 T ROWE PRICE OVERSEAS STOCK FUND;I 7.62 Alpha: -- Beta: -- Standard Deviation: -- Sharpe Ratio: -- T ROWE PRICE INTERNATIONAL VALUE EQUITY FD;I 7.27 T ROWE PRICE INTERNATIONAL STOCK FUND;I 6.96 Alpha measures Beta measuresa a portfolio's Standard deviation is Aa measure that uses manager's contribution to sensitivity to marketmeasure of risk that gauges standard deviation andT ROWE PRICE MID-CAP VALUE FUND;I 3.16 performance due movementsto in the broad the variability of actualexcess return to determine T ROWE PRICE EMERGING MARKETS STOCK FUND;I 3.11 security selection or market based index. returns from their expected reward per unit of risk. T ROWE PRICE MID-CAP GROWTH FUND;I 2.99 timing relative to the broad values and the dispersion of Percent of Assets in Top Holdings 86.50 based index. these variations over time. Asset Allocation as of 03/31/17
Best 3 Month Period Worst 3 Month Period Equity 80.88 Performance Date Performance Date Fixed Income 16.03 T Rowe Price Ret:I2035;I ------Other 2.36 Broad Based Index: N/A ------Best Fit Index: N/A ------Cash 0.72
Other Key Facts About This Fund
Current NAV 12.45 Number of Equities Held 20 Yield - 30 Days (%) 0.00 Average Price to Earnings 23.28 Top Sectors by Percent1 as of 03/31/17 Yield - 12 Months (%) 1.24 Average Price to Book 4.07 Financials 18.68
Fund fact sheet not valid without Disclaimer Page. Past performance is no guarantee of future results. Consumer Services 11.53 Investment return and value of shares will fluctuate, so those shares, when redeemed, may be worth more or Technology 10.80 less than their original cost. This report is not authorized for distribution unless accompanied or preceded by Health Care 9.83 a current prospectus of the fund. Call 800-638-8790 for the most recent month-end performance results. The Industrials 9.74 prospectus contains important information of the fund, including its management fees, sales charges, and Consumer Goods 7.91 other expenses. Please read the prospectus carefully before you invest or send money. Oil & Gas 3.95
Date of first use: 07/20/17 Basic Materials 3.05 Utilities 2.61 Lipper, a Thomson Reuters Company. Copyright 2017 Thomson Reuters. All rights reserved. Any copying, Telecommunications 1.96 republication or redistribution of Lipper content is expressly prohibited without the prior written consent of Lipper. Lipper Fund Fact Sheets Service; Product ID: D1v2.4.
1 Sector weightings are based on Industry Classification Benchmark (ICB) Industries.
Oo T Rowe Price Ret:I2040;I Data updated as of 06/30/2017 Fund Overview Fund Full Name T Rowe Price Retirement Funds, Inc: T Rowe Price Retirement NASDAQ Ticker Symbol TRPDX Inception Date 09/29/2015 I 2040 Fund; Class I Shares Asset Type Mixed Equity Funds Fund Manager Clark/Lee Total Net Assets ($M) 1790.2 Fund Manager Tenure 2015, 2015 Lipper Classification Gross Expense Ratio (%) 0.76 Management Company Mixed-Asset Target 2040 Funds Net Expense Ratio (%) 0.61 T. Rowe Price Associates Inc 100 East Pratt Street Portfolio Turnover Percent 6 Baltimore MD 21202 Investment Policy Average Market Capitalization ($M) 79,637 800-638-8790 The Fund seeks the highest total return over time consistent with an emphasis on both capital growth and income. The Fund invests in a diversified portfolio of other T. Rowe Price stock and bond funds that represent various asset classes and sectors. It is managed based on the specific retirement year Trailing Performance 06/30/2017 (target date 2040).
Cumulative (%) Annualized (%) Growth of $10,000 Investment Quarter Year Since to Date to Date 1 Year 3 Year 5 Year 10 Year Incep. 13 T Rowe Price Ret:I2040;I 4.75 11.94 18.93 ------15.62 12.5 Broad Based Index: N/A Data Not Available 12 Best Fit Index: N/A Data Not Available 11.5 Peer Group Average: Lipper Mixed-Asset Target 2040 Average 3.48 9.22 15.08 4.86 9.45 4.28 -- 11 10.5 10 9.5 Calendar Year Performance 12/31/2016 15 16
2012 2013 2014 2015 2016 T Rowe Price Ret:I2040;I N/A T Rowe Price Ret:I2040;I ------7.75 $12,656 -- Broad Based Index: N/A ------Best Fit Index: N/A ------Top Holdings as of 03/31/17
Holding Name Percent of Assets T ROWE PRICE GROWTH STOCK FUND;I 20.55 06/30/2017 T ROWE PRICE VALUE FUND;I 18.19 Risk Analysis (3 Year) T ROWE PRICE OVERSEAS STOCK FUND;I 8.05
These statistics are measured against the Fund's broad based index: N/A T ROWE PRICE NEW INCOME FUND;I 8.03 T ROWE PRICE EQUITY INDEX 500 FUND;I 7.78 Alpha: -- Beta: -- Standard Deviation: -- Sharpe Ratio: -- T ROWE PRICE INTERNATIONAL VALUE EQUITY FD;I 7.72 T ROWE PRICE INTERNATIONAL STOCK FUND;I 7.38 Alpha measures Beta measuresa a portfolio's Standard deviation is Aa measure that uses manager's contribution to sensitivity to marketmeasure of risk that gauges standard deviation andT ROWE PRICE MID-CAP VALUE FUND;I 3.34 performance due movementsto in the broad the variability of actualexcess return to determine T ROWE PRICE EMERGING MARKETS STOCK FUND;I 3.28 security selection or market based index. returns from their expected reward per unit of risk. T ROWE PRICE MID-CAP GROWTH FUND;I 3.20 timing relative to the broad values and the dispersion of Percent of Assets in Top Holdings 87.52 based index. these variations over time. Asset Allocation as of 03/31/17
Best 3 Month Period Worst 3 Month Period Equity 85.64 Performance Date Performance Date Fixed Income 11.27 T Rowe Price Ret:I2040;I ------Other 2.39 Broad Based Index: N/A ------Best Fit Index: N/A ------Cash 0.70
Other Key Facts About This Fund
Current NAV 12.56 Number of Equities Held 20 Yield - 30 Days (%) 0.00 Average Price to Earnings 24.76 Top Sectors by Percent1 as of 03/31/17 Yield - 12 Months (%) 1.19 Average Price to Book 4.32 Financials 19.82
Fund fact sheet not valid without Disclaimer Page. Past performance is no guarantee of future results. Consumer Services 12.34 Investment return and value of shares will fluctuate, so those shares, when redeemed, may be worth more or Technology 11.45 less than their original cost. This report is not authorized for distribution unless accompanied or preceded by Health Care 10.44 a current prospectus of the fund. Call 800-638-8790 for the most recent month-end performance results. The Industrials 10.26 prospectus contains important information of the fund, including its management fees, sales charges, and Consumer Goods 8.30 other expenses. Please read the prospectus carefully before you invest or send money. Oil & Gas 4.13
Date of first use: 07/20/17 Basic Materials 3.19 Utilities 2.79 Lipper, a Thomson Reuters Company. Copyright 2017 Thomson Reuters. All rights reserved. Any copying, Telecommunications 2.04 republication or redistribution of Lipper content is expressly prohibited without the prior written consent of Lipper. Lipper Fund Fact Sheets Service; Product ID: D1v2.4.
1 Sector weightings are based on Industry Classification Benchmark (ICB) Industries.
Oo T Rowe Price Ret:I2045;I Data updated as of 06/30/2017 Fund Overview Fund Full Name T Rowe Price Retirement Funds, Inc: T Rowe Price Retirement NASDAQ Ticker Symbol TRPKX Inception Date 09/29/2015 I 2045 Fund; Class I Shares Asset Type Mixed Equity Funds Fund Manager Clark/Lee Total Net Assets ($M) 884.3 Fund Manager Tenure 2015, 2015 Lipper Classification Gross Expense Ratio (%) 1.06 Management Company Mixed-Asset Target 2045 Funds Net Expense Ratio (%) 0.61 T. Rowe Price Associates Inc 100 East Pratt Street Portfolio Turnover Percent 5 Baltimore MD 21202 Investment Policy Average Market Capitalization ($M) 81,515 800-638-8790 The Fund seeks the highest total return over time consistent with an emphasis on both capital growth and income. The Fund invests in a diversified portfolio of other T. Rowe Price stock and bond funds that represent various asset classes and sectors. It is managed based on the specific retirement year Trailing Performance 06/30/2017 (target date 2045).
Cumulative (%) Annualized (%) Growth of $10,000 Investment Quarter Year Since to Date to Date 1 Year 3 Year 5 Year 10 Year Incep. 13 T Rowe Price Ret:I2045;I 4.83 12.21 19.33 ------15.77 12.5 Broad Based Index: N/A Data Not Available 12 Best Fit Index: N/A Data Not Available 11.5 Peer Group Average: Lipper Mixed-Asset Target 2045 Average 3.77 9.85 16.32 5.16 10.10 4.70 -- 11 10.5 10 9.5 Calendar Year Performance 12/31/2016 15 16
2012 2013 2014 2015 2016 T Rowe Price Ret:I2045;I N/A T Rowe Price Ret:I2045;I ------7.75 $12,686 -- Broad Based Index: N/A ------Best Fit Index: N/A ------Top Holdings as of 03/31/17
Holding Name Percent of Assets T ROWE PRICE GROWTH STOCK FUND;I 21.20 06/30/2017 T ROWE PRICE VALUE FUND;I 18.79 Risk Analysis (3 Year) T ROWE PRICE OVERSEAS STOCK FUND;I 8.18
These statistics are measured against the Fund's broad based index: N/A T ROWE PRICE INTERNATIONAL VALUE EQUITY FD;I 7.87 T ROWE PRICE INTERNATIONAL STOCK FUND;I 7.48 Alpha: -- Beta: -- Standard Deviation: -- Sharpe Ratio: -- T ROWE PRICE EQUITY INDEX 500 FUND;I 7.31 T ROWE PRICE NEW INCOME FUND;I 6.94 Alpha measures Beta measuresa a portfolio's Standard deviation is Aa measure that uses manager's contribution to sensitivity to marketmeasure of risk that gauges standard deviation andT ROWE PRICE MID-CAP VALUE FUND;I 3.39 performance due movementsto in the broad the variability of actualexcess return to determine T ROWE PRICE EMERGING MARKETS STOCK FUND;I 3.34 security selection or market based index. returns from their expected reward per unit of risk. T ROWE PRICE MID-CAP GROWTH FUND;I 3.25 timing relative to the broad values and the dispersion of Percent of Assets in Top Holdings 87.75 based index. these variations over time. Asset Allocation as of 03/31/17
Best 3 Month Period Worst 3 Month Period Equity 87.12 Performance Date Performance Date Fixed Income 9.81 T Rowe Price Ret:I2045;I ------Other 2.37 Broad Based Index: N/A ------Best Fit Index: N/A ------Cash 0.69
Other Key Facts About This Fund
Current NAV 12.59 Number of Equities Held 20 Yield - 30 Days (%) 0.00 Average Price to Earnings 25.21 Top Sectors by Percent1 as of 03/31/17 Yield - 12 Months (%) 1.19 Average Price to Book 4.41 Financials 20.19
Fund fact sheet not valid without Disclaimer Page. Past performance is no guarantee of future results. Consumer Services 12.49 Investment return and value of shares will fluctuate, so those shares, when redeemed, may be worth more or Technology 11.68 less than their original cost. This report is not authorized for distribution unless accompanied or preceded by Health Care 10.67 a current prospectus of the fund. Call 800-638-8790 for the most recent month-end performance results. The Industrials 10.37 prospectus contains important information of the fund, including its management fees, sales charges, and Consumer Goods 8.53 other expenses. Please read the prospectus carefully before you invest or send money. Oil & Gas 4.20
Date of first use: 07/20/17 Basic Materials 3.24 Utilities 2.84 Lipper, a Thomson Reuters Company. Copyright 2017 Thomson Reuters. All rights reserved. Any copying, Telecommunications 2.04 republication or redistribution of Lipper content is expressly prohibited without the prior written consent of Lipper. Lipper Fund Fact Sheets Service; Product ID: D1v2.4.
1 Sector weightings are based on Industry Classification Benchmark (ICB) Industries.
Oo T Rowe Price Ret:I2050;I Data updated as of 06/30/2017 Fund Overview Fund Full Name T Rowe Price Retirement Funds, Inc: T Rowe Price Retirement NASDAQ Ticker Symbol TRPMX Inception Date 09/29/2015 I 2050 Fund; Class I Shares Asset Type Mixed Equity Funds Fund Manager Clark/Lee Total Net Assets ($M) 949.4 Fund Manager Tenure 2015, 2015 Lipper Classification Gross Expense Ratio (%) 0.86 Management Company Mixed-Asset Target 2050 Funds Net Expense Ratio (%) 0.59 T. Rowe Price Associates Inc 100 East Pratt Street Portfolio Turnover Percent 10 Baltimore MD 21202 Investment Policy Average Market Capitalization ($M) 80,994 800-638-8790 The Fund seeks the highest total return over time consistent with an emphasis on both capital growth and income. The Fund invests in a diversified portfolio of other T. Rowe Price stock and bond funds that represent various asset classes and sectors. It is managed based on the specific retirement year Trailing Performance 06/30/2017 (target date 2050).
Cumulative (%) Annualized (%) Growth of $10,000 Investment Quarter Year Since to Date to Date 1 Year 3 Year 5 Year 10 Year Incep. 13 T Rowe Price Ret:I2050;I 4.92 12.21 19.33 ------15.77 12.5 Broad Based Index: N/A Data Not Available 12 Best Fit Index: N/A Data Not Available 11.5 Peer Group Average: Lipper Mix-Asst Targ 2050 Average 3.63 9.66 15.92 5.08 9.90 4.33 -- 11 10.5 10 9.5 Calendar Year Performance 12/31/2016 15 16
2012 2013 2014 2015 2016 T Rowe Price Ret:I2050;I N/A T Rowe Price Ret:I2050;I ------7.75 $12,686 -- Broad Based Index: N/A ------Best Fit Index: N/A ------Top Holdings as of 03/31/17
Holding Name Percent of Assets T ROWE PRICE GROWTH STOCK FUND;I 21.23 06/30/2017 T ROWE PRICE VALUE FUND;I 18.79 Risk Analysis (3 Year) T ROWE PRICE OVERSEAS STOCK FUND;I 8.18
These statistics are measured against the Fund's broad based index: N/A T ROWE PRICE INTERNATIONAL VALUE EQUITY FD;I 7.84 T ROWE PRICE INTERNATIONAL STOCK FUND;I 7.52 Alpha: -- Beta: -- Standard Deviation: -- Sharpe Ratio: -- T ROWE PRICE EQUITY INDEX 500 FUND;I 7.31 T ROWE PRICE NEW INCOME FUND;I 6.93 Alpha measures Beta measuresa a portfolio's Standard deviation is Aa measure that uses manager's contribution to sensitivity to marketmeasure of risk that gauges standard deviation andT ROWE PRICE MID-CAP VALUE FUND;I 3.40 performance due movementsto in the broad the variability of actualexcess return to determine T ROWE PRICE EMERGING MARKETS STOCK FUND;I 3.35 security selection or market based index. returns from their expected reward per unit of risk. T ROWE PRICE MID-CAP GROWTH FUND;I 3.25 timing relative to the broad values and the dispersion of Percent of Assets in Top Holdings 87.80 based index. these variations over time. Asset Allocation as of 03/31/17
Best 3 Month Period Worst 3 Month Period Equity 87.14 Performance Date Performance Date Fixed Income 9.79 T Rowe Price Ret:I2050;I ------Other 2.39 Broad Based Index: N/A ------Best Fit Index: N/A ------Cash 0.68
Other Key Facts About This Fund
Current NAV 12.59 Number of Equities Held 20 Yield - 30 Days (%) 0.00 Average Price to Earnings 25.23 Top Sectors by Percent1 as of 03/31/17 Yield - 12 Months (%) 1.19 Average Price to Book 4.40 Financials 20.19
Fund fact sheet not valid without Disclaimer Page. Past performance is no guarantee of future results. Consumer Services 12.58 Investment return and value of shares will fluctuate, so those shares, when redeemed, may be worth more or Technology 11.66 less than their original cost. This report is not authorized for distribution unless accompanied or preceded by Health Care 10.62 a current prospectus of the fund. Call 800-638-8790 for the most recent month-end performance results. The Industrials 10.43 prospectus contains important information of the fund, including its management fees, sales charges, and Consumer Goods 8.43 other expenses. Please read the prospectus carefully before you invest or send money. Oil & Gas 4.19
Date of first use: 07/20/17 Basic Materials 3.24 Utilities 2.84 Lipper, a Thomson Reuters Company. Copyright 2017 Thomson Reuters. All rights reserved. Any copying, Telecommunications 2.06 republication or redistribution of Lipper content is expressly prohibited without the prior written consent of Lipper. Lipper Fund Fact Sheets Service; Product ID: D1v2.4.
1 Sector weightings are based on Industry Classification Benchmark (ICB) Industries.
Oo T Rowe Price Ret:I2055;I Data updated as of 06/30/2017 Fund Overview Fund Full Name T Rowe Price Retirement Funds, Inc: T Rowe Price Retirement NASDAQ Ticker Symbol TRPNX Inception Date 09/29/2015 I 2055 Fund; Class I Shares Asset Type Mixed Equity Funds Fund Manager Clark/Lee Total Net Assets ($M) 322.7 Fund Manager Tenure 2015, 2015 Lipper Classification Gross Expense Ratio (%) 2.05 Management Company Mixed-Asset Target 2055+ Funds Net Expense Ratio (%) 0.61 T. Rowe Price Associates Inc 100 East Pratt Street Portfolio Turnover Percent 15 Baltimore MD 21202 Investment Policy Average Market Capitalization ($M) 80,969 800-638-8790 The Fund seeks the highest total return over time consistent with an emphasis on both capital growth and income. The Fund invests in a diversified portfolio of other T. Rowe Price stock and bond funds that represent various asset classes and sectors. It is managed based on the specific retirement year Trailing Performance 06/30/2017 (target date 2055).
Cumulative (%) Annualized (%) Growth of $10,000 Investment Quarter Year Since to Date to Date 1 Year 3 Year 5 Year 10 Year Incep. 13 T Rowe Price Ret:I2055;I 4.92 12.22 19.34 ------15.72 12.5 Broad Based Index: N/A Data Not Available 12 Best Fit Index: N/A Data Not Available 11.5 Peer Group Average: Lipper Mix-Asst Targ2055+ Average 3.85 10.11 16.79 5.36 10.53 5.71 -- 11 10.5 10 9.5 Calendar Year Performance 12/31/2016 15 16
2012 2013 2014 2015 2016 T Rowe Price Ret:I2055;I N/A T Rowe Price Ret:I2055;I ------7.65 $12,676 -- Broad Based Index: N/A ------Best Fit Index: N/A ------Top Holdings as of 03/31/17
Holding Name Percent of Assets T ROWE PRICE GROWTH STOCK FUND;I 21.21 06/30/2017 T ROWE PRICE VALUE FUND;I 18.80 Risk Analysis (3 Year) T ROWE PRICE OVERSEAS STOCK FUND;I 8.18
These statistics are measured against the Fund's broad based index: N/A T ROWE PRICE INTERNATIONAL VALUE EQUITY FD;I 7.88 T ROWE PRICE INTERNATIONAL STOCK FUND;I 7.48 Alpha: -- Beta: -- Standard Deviation: -- Sharpe Ratio: -- T ROWE PRICE EQUITY INDEX 500 FUND;I 7.31 T ROWE PRICE NEW INCOME FUND;I 6.93 Alpha measures Beta measuresa a portfolio's Standard deviation is Aa measure that uses manager's contribution to sensitivity to marketmeasure of risk that gauges standard deviation andT ROWE PRICE MID-CAP VALUE FUND;I 3.40 performance due movementsto in the broad the variability of actualexcess return to determine T ROWE PRICE EMERGING MARKETS STOCK FUND;I 3.34 security selection or market based index. returns from their expected reward per unit of risk. T ROWE PRICE MID-CAP GROWTH FUND;I 3.26 timing relative to the broad values and the dispersion of Percent of Assets in Top Holdings 87.79 based index. these variations over time. Asset Allocation as of 03/31/17
Best 3 Month Period Worst 3 Month Period Equity 87.12 Performance Date Performance Date Fixed Income 9.79 T Rowe Price Ret:I2055;I ------Other 2.40 Broad Based Index: N/A ------Best Fit Index: N/A ------Cash 0.69
Other Key Facts About This Fund
Current NAV 12.58 Number of Equities Held 20 Yield - 30 Days (%) 0.00 Average Price to Earnings 25.22 Top Sectors by Percent1 as of 03/31/17 Yield - 12 Months (%) 1.19 Average Price to Book 4.40 Financials 20.19
Fund fact sheet not valid without Disclaimer Page. Past performance is no guarantee of future results. Consumer Services 12.57 Investment return and value of shares will fluctuate, so those shares, when redeemed, may be worth more or Technology 11.65 less than their original cost. This report is not authorized for distribution unless accompanied or preceded by Health Care 10.62 a current prospectus of the fund. Call 800-638-8790 for the most recent month-end performance results. The Industrials 10.43 prospectus contains important information of the fund, including its management fees, sales charges, and Consumer Goods 8.42 other expenses. Please read the prospectus carefully before you invest or send money. Oil & Gas 4.19
Date of first use: 07/20/17 Basic Materials 3.25 Utilities 2.84 Lipper, a Thomson Reuters Company. Copyright 2017 Thomson Reuters. All rights reserved. Any copying, Telecommunications 2.06 republication or redistribution of Lipper content is expressly prohibited without the prior written consent of Lipper. Lipper Fund Fact Sheets Service; Product ID: D1v2.4.
1 Sector weightings are based on Industry Classification Benchmark (ICB) Industries.
Oo T Rowe Price Ret:I2060;I Data updated as of 06/30/2017 Fund Overview Fund Full Name T Rowe Price Retirement Funds, Inc: T Rowe Price Retirement NASDAQ Ticker Symbol TRPLX Inception Date 09/29/2015 I 2060 Fund; Class I Shares Asset Type Mixed Equity Funds Fund Manager Clark/Lee Total Net Assets ($M) 43.3 Fund Manager Tenure 2015, 2015 Lipper Classification Gross Expense Ratio (%) 11.52 Management Company Mixed-Asset Target 2055+ Funds Net Expense Ratio (%) 0.61 T. Rowe Price Associates Inc 100 East Pratt Street Portfolio Turnover Percent 14 Baltimore MD 21202 Investment Policy Average Market Capitalization ($M) 80,861 800-638-8790 The Fund seeks the highest total return over time consistent with an emphasis on both capital growth and income. The Fund invests in a diversified portfolio of other T. Rowe Price stock and bond funds that represent various asset classes and sectors. It is managed based on the specific retirement year Trailing Performance 06/30/2017 (target date 2060).
Cumulative (%) Annualized (%) Growth of $10,000 Investment Quarter Year Since to Date to Date 1 Year 3 Year 5 Year 10 Year Incep. 13 T Rowe Price Ret:I2060;I 4.87 12.21 19.24 ------15.54 12.5 Broad Based Index: N/A Data Not Available 12 Best Fit Index: N/A Data Not Available 11.5 Peer Group Average: Lipper Mix-Asst Targ2055+ Average 3.85 10.11 16.79 5.36 10.53 5.71 -- 11 10.5 10 9.5 Calendar Year Performance 12/31/2016 15 16
2012 2013 2014 2015 2016 T Rowe Price Ret:I2060;I N/A T Rowe Price Ret:I2060;I ------7.37 $12,642 -- Broad Based Index: N/A ------Best Fit Index: N/A ------Top Holdings as of 03/31/17
Holding Name Percent of Assets T ROWE PRICE GROWTH STOCK FUND;I 21.18 06/30/2017 T ROWE PRICE VALUE FUND;I 18.76 Risk Analysis (3 Year) T ROWE PRICE OVERSEAS STOCK FUND;I 8.18
These statistics are measured against the Fund's broad based index: N/A T ROWE PRICE INTERNATIONAL VALUE EQUITY FD;I 7.87 T ROWE PRICE INTERNATIONAL STOCK FUND;I 7.48 Alpha: -- Beta: -- Standard Deviation: -- Sharpe Ratio: -- T ROWE PRICE EQUITY INDEX 500 FUND;I 7.30 T ROWE PRICE NEW INCOME FUND;I 6.97 Alpha measures Beta measuresa a portfolio's Standard deviation is Aa measure that uses manager's contribution to sensitivity to marketmeasure of risk that gauges standard deviation andT ROWE PRICE MID-CAP VALUE FUND;I 3.39 performance due movementsto in the broad the variability of actualexcess return to determine T ROWE PRICE EMERGING MARKETS STOCK FUND;I 3.34 security selection or market based index. returns from their expected reward per unit of risk. T ROWE PRICE MID-CAP GROWTH FUND;I 3.25 timing relative to the broad values and the dispersion of Percent of Assets in Top Holdings 87.72 based index. these variations over time. Asset Allocation as of 03/31/17
Best 3 Month Period Worst 3 Month Period Equity 87.02 Performance Date Performance Date Fixed Income 9.86 T Rowe Price Ret:I2060;I ------Other 2.44 Broad Based Index: N/A ------Best Fit Index: N/A ------Cash 0.69
Other Key Facts About This Fund
Current NAV 12.50 Number of Equities Held 20 Yield - 30 Days (%) 0.00 Average Price to Earnings 25.19 Top Sectors by Percent1 as of 03/31/17 Yield - 12 Months (%) 1.24 Average Price to Book 4.40 Financials 20.17
Fund fact sheet not valid without Disclaimer Page. Past performance is no guarantee of future results. Consumer Services 12.56 Investment return and value of shares will fluctuate, so those shares, when redeemed, may be worth more or Technology 11.63 less than their original cost. This report is not authorized for distribution unless accompanied or preceded by Health Care 10.61 a current prospectus of the fund. Call 800-638-8790 for the most recent month-end performance results. The Industrials 10.41 prospectus contains important information of the fund, including its management fees, sales charges, and Consumer Goods 8.42 other expenses. Please read the prospectus carefully before you invest or send money. Oil & Gas 4.19
Date of first use: 07/20/17 Basic Materials 3.25 Utilities 2.84 Lipper, a Thomson Reuters Company. Copyright 2017 Thomson Reuters. All rights reserved. Any copying, Telecommunications 2.06 republication or redistribution of Lipper content is expressly prohibited without the prior written consent of Lipper. Lipper Fund Fact Sheets Service; Product ID: D1v2.4.
1 Sector weightings are based on Industry Classification Benchmark (ICB) Industries.
Oo Vanguard TSM Idx;Inst Data updated as of 06/30/2017 Fund Overview Fund Full Name Vanguard Index Funds: Vanguard Total Stock Market Index NASDAQ Ticker Symbol VITSX Inception Date 07/07/1997 Fund; Institutional Class Shares Asset Type Equity Funds Fund Manager O'Reilly/Nejman Total Net Assets ($M) 95459 Fund Manager Tenure 2016, 2016 Lipper Classification Gross Expense Ratio (%) 0.04 Management Company Multi-Cap Core Funds Net Expense Ratio (%) 0.04 Vanguard Group Inc 100 Vanguard Boulevard Portfolio Turnover Percent 4 Malvern PA 19355 Investment Policy Average Market Capitalization ($M) 129,519 800-662-7447 The Fund seeks to track the performance of a benchmark index that measures the investment return of the overall stock market. The Fund employs a "passive management" approach designed to track the performance of the CRSP US Total Market Index. Trailing Performance 06/30/2017
Cumulative (%) Annualized (%) Growth of $10,000 Investment Quarter Year Since 22 to Date to Date 1 Year 3 Year 5 Year 10 Year Incep. 20 Vanguard TSM Idx;Inst 3.03 9.00 18.50 9.07 14.55 7.38 7.42 18 Broad Based Index: S&P 500 Daily Reinv IX 3.09 9.34 17.90 9.61 14.63 7.18 -- 16 Best Fit Index: Russell 3000 TR IX 3.02 8.93 18.51 9.10 14.58 7.26 -- 14 12 Peer Group Average: Lipper Multi-Cap Core Average 2.77 8.39 17.62 6.58 13.18 5.88 -- 10 8 6 4 07 08 09 10 11 12 13 14 15 16 17 Calendar Year Performance 12/31/2016
2012 2013 2014 2015 2016 Vanguard TSM Idx;Inst Russell 3000 TR IX $20,389 $20,145 Vanguard TSM Idx;Inst 16.42 33.49 12.56 0.42 12.67 Broad Based Index: S&P 500 Daily Reinv IX 16.00 32.39 13.69 1.38 11.96 Top Holdings as of 04/30/17 Best Fit Index: Russell 3000 TR IX 16.42 33.55 12.56 0.48 12.74
Holding Name Percent of Assets APPLE INC ORD 2.86 MICROSOFT CORP ORD 2.01 Risk Analysis (3 Year) 06/30/2017 AMAZON.COM INC ORD 1.50
FACEBOOK INC ORD 1.42 These statistics are measured against the Fund's broad based index: S&P 500 Daily Reinv IX EXXON MOBIL CORP ORD 1.36 JOHNSON & JOHNSON ORD 1.34 Alpha: -0.05 Beta: 1.02 Standard Deviation: 10.90 Sharpe Ratio: 0.80 JPMORGAN CHASE & CO ORD 1.25 Alpha measures Beta measuresa a portfolio's Standard deviation is Aa measure that usesBERKSHIRE HATHAWAY INC ORD 1.23 manager's contribution to sensitivity to marketmeasure of risk that gauges standard deviation andALPHABET INC ORD 1.11 performance due movementsto in the broad the variability of actualexcess return to determine ALPHABET INC ORD 1.06 security selection or market based index. returns from their expected reward per unit of risk. Percent of Assets in Top Holdings 15.14 timing relative to the broad values and the dispersion of based index. these variations over time. Asset Allocation as of 04/30/17
Equity 99.00 Best 3 Month Period Worst 3 Month Period Performance Date Performance Date Cash 0.95 Vanguard TSM Idx;Inst 9.63 05/31/2016 -7.60 02/29/2016 Fixed Income 0.03 Broad Based Index: S&P 500 Daily Reinv IX 9.12 05/31/2016 -6.59 02/29/2016 Other 0.01 Best Fit Index: Russell 3000 TR IX 9.63 05/31/2016 -7.61 02/29/2016
Other Key Facts About This Fund
Current NAV 60.58 Number of Equities Held 3,579 1 Yield - 30 Days (%) 0.00 Average Price to Earnings 26.86 Top Sectors by Percent as of 04/30/17 Yield - 12 Months (%) 1.92 Average Price to Book 5.67 Financials 19.88 Technology 17.32 Fund fact sheet not valid without Disclaimer Page. Past performance is no guarantee of future results. Investment return and value of shares will fluctuate, so those shares, when redeemed, may be worth more or Consumer Services 13.24 less than their original cost. This report is not authorized for distribution unless accompanied or preceded by Industrials 12.83 a current prospectus of the fund. Call 800-662-7447 for the most recent month-end performance results. The Health Care 12.54 prospectus contains important information of the fund, including its management fees, sales charges, and Consumer Goods 9.53 Oil & Gas 5.81 other expenses. Please read the prospectus carefully before you invest or send money. Date of first use: 07/19/17 Utilities 3.12 Basic Materials 2.59 Lipper, a Thomson Reuters Company. Copyright 2017 Thomson Reuters. All rights reserved. Any copying, Telecommunications 2.05 republication or redistribution of Lipper content is expressly prohibited without the prior written consent of
Lipper. Lipper Fund Fact Sheets Service; Product ID: D1v2.4. 1 Sector weightings are based on Industry Classification Benchmark (ICB) Industries.
Oo Vanguard Gro Idx;Inst Data updated as of 06/30/2017 Fund Overview Fund Full Name Vanguard Index Funds: Vanguard Growth Index Fund; NASDAQ Ticker Symbol VIGIX Inception Date 05/14/1998 Institutional Class Shares Asset Type Equity Funds Fund Manager O'Reilly/Nejman Total Net Assets ($M) 11478.2 Fund Manager Tenure 2000, 2016 Lipper Classification Gross Expense Ratio (%) 0.05 Management Company Large-Cap Growth Funds Net Expense Ratio (%) 0.05 Vanguard Group Inc 100 Vanguard Boulevard Portfolio Turnover Percent 11 Malvern PA 19355 Investment Policy Average Market Capitalization ($M) 165,471 800-662-7447 The Fund seeks to track the performance of a benchmark index that measures the investment return of large-capitalization growth stocks. The Fund employs a "passive management"--or indexing--investment approach designed to track the performance of the MSCI US Prime Trailing Performance 06/30/2017 Market Growth Index.
Cumulative (%) Annualized (%) Growth of $10,000 Investment Quarter Year Since to Date to Date 1 Year 3 Year 5 Year 10 Year Incep. 24 Vanguard Gro Idx;Inst 4.69 14.75 20.14 10.15 14.87 8.82 6.20 22 20 Broad Based Index: S&P 500 Daily Reinv IX 3.09 9.34 17.90 9.61 14.63 7.18 -- 18 Best Fit Index: Russell 1000 Gro TR IX 4.67 13.99 20.42 11.11 15.30 8.91 -- 16 14 Peer Group Average: Lipper Large-Cap Growth Average 5.45 15.36 20.39 9.61 14.14 7.87 -- 12 10 8 6 4 Calendar Year Performance 12/31/2016 07 08 09 10 11 12 13 14 15 16 17
2012 2013 2014 2015 2016 Vanguard Gro Idx;Inst Russell 1000 Gro TR IX Vanguard Gro Idx;Inst 17.04 32.41 13.62 3.33 6.13 $23,293 $23,474 Broad Based Index: S&P 500 Daily Reinv IX 16.00 32.39 13.69 1.38 11.96 Best Fit Index: Russell 1000 Gro TR IX 15.26 33.48 13.05 5.67 7.08 Top Holdings as of 06/30/17
Holding Name Percent of Assets APPLE INC ORD 6.68 06/30/2017 AMAZON.COM INC ORD 3.89 Risk Analysis (3 Year) FACEBOOK INC ORD 3.53
These statistics are measured against the Fund's broad based index: S&P 500 Daily Reinv IX ALPHABET INC ORD 2.73 ALPHABET INC ORD 2.65 Alpha: -0.10 Beta: 1.07 Standard Deviation: 11.79 Sharpe Ratio: 0.73 COMCAST CORP ORD 1.82 HOME DEPOT INC ORD 1.81 Alpha measures Beta measuresa a portfolio's Standard deviation is Aa measure that uses manager's contribution to sensitivity to marketmeasure of risk that gauges standard deviation andPHILIP MORRIS INTERNATIONAL INC ORD 1.80 performance due movementsto in the broad the variability of actualexcess return to determine VISA INC ORD 1.71 security selection or market based index. returns from their expected reward per unit of risk. COCA-COLA CO ORD 1.70 timing relative to the broad values and the dispersion of Percent of Assets in Top Holdings 28.32 based index. these variations over time. Asset Allocation as of 06/30/17
Best 3 Month Period Worst 3 Month Period Equity 99.43 Performance Date Performance Date Other 0.56 Vanguard Gro Idx;Inst 9.61 03/31/2017 -8.58 02/29/2016 Fixed Income 0.01
Broad Based Index: S&P 500 Daily Reinv IX 9.12 05/31/2016 -6.59 02/29/2016 Best Fit Index: Russell 1000 Gro TR IX 9.00 02/28/2017 -7.01 02/29/2016
Other Key Facts About This Fund
Current NAV 65.38 Number of Equities Held 325 Yield - 30 Days (%) 0.00 Average Price to Earnings 31.33 Top Sectors by Percent1 as of 06/30/17 Yield - 12 Months (%) 1.28 Average Price to Book 8.35
Technology 25.13 Fund fact sheet not valid without Disclaimer Page. Past performance is no guarantee of future results. Consumer Services 20.82 Investment return and value of shares will fluctuate, so those shares, when redeemed, may be worth more or Health Care 13.89 less than their original cost. This report is not authorized for distribution unless accompanied or preceded by Financials 12.60 a current prospectus of the fund. Call 800-662-7447 for the most recent month-end performance results. The prospectus contains important information of the fund, including its management fees, sales charges, and Industrials 11.41 other expenses. Please read the prospectus carefully before you invest or send money. Consumer Goods 11.05 Date of first use: 07/19/17 Oil & Gas 3.16
Basic Materials 0.99 Lipper, a Thomson Reuters Company. Copyright 2017 Thomson Reuters. All rights reserved. Any copying, Telecommunications 0.39 republication or redistribution of Lipper content is expressly prohibited without the prior written consent of Lipper. Lipper Fund Fact Sheets Service; Product ID: D1v2.4.
1 Sector weightings are based on Industry Classification Benchmark (ICB) Industries.
Oo FMI:Large Cap;Inv Data updated as of 06/30/2017 Fund Overview Fund Full Name FMI Funds, Inc: FMI Large Cap Fund; Investor Class Share NASDAQ Ticker Symbol FMIHX Inception Date 12/31/2001 Asset Type Equity Funds Fund Manager Team Managed Lipper Classification Total Net Assets ($M) 4152.1 Fund Manager Tenure -- Large-Cap Core Funds Gross Expense Ratio (%) 0.84 Management Company Net Expense Ratio (%) 0.84 Fiduciary Management Inc 100 East Wisconsin Avenue Suite 2200 Investment Policy Portfolio Turnover Percent 17 Milwaukee WI 53202 The Fund seeks long-term capital appreciation. The Fund Average Market Capitalization ($M) 86,838 800-811-5311 invests in a limited number of large capitalization (i.e., more than $4 billion market capitalization) value stocks. We look for stocks of good businesses that are selling at value prices in an effort to achieve above average performance with below average risk. Trailing Performance 06/30/2017
Cumulative (%) Annualized (%) Growth of $10,000 Investment Quarter Year Since 22 to Date to Date 1 Year 3 Year 5 Year 10 Year Incep. 20 FMI:Large Cap;Inv 2.88 8.52 17.25 7.69 13.28 7.68 8.97 18 Broad Based Index: S&P 500 Daily Reinv IX 3.09 9.34 17.90 9.61 14.63 7.18 -- 16 Best Fit Index: Russell 1000 Value TR IX 1.34 4.66 15.53 7.36 13.94 5.57 -- 14 12 Peer Group Average: Lipper Large-Cap Core Average 3.00 8.72 16.96 7.80 13.36 6.34 -- 10 8 6 4 07 08 09 10 11 12 13 14 15 16 17 Calendar Year Performance 12/31/2016
2012 2013 2014 2015 2016 FMI:Large Cap;Inv Russell 1000 Value TR IX $20,967 $17,187 FMI:Large Cap;Inv 14.86 30.48 12.36 -2.44 13.79 Broad Based Index: S&P 500 Daily Reinv IX 16.00 32.39 13.69 1.38 11.96 Top Holdings as of 03/31/17 Best Fit Index: Russell 1000 Value TR IX 17.51 32.53 13.45 -3.83 17.34
Holding Name Percent of Assets COMCAST CORP ORD 4.98 BERKSHIRE HATHAWAY INC ORD 4.89 Risk Analysis (3 Year) 06/30/2017 UNITEDHEALTH GROUP INC ORD 4.28
HONEYWELL INTERNATIONAL INC ORD 4.25 These statistics are measured against the Fund's broad based index: S&P 500 Daily Reinv IX ACCENTURE PLC ORD 3.82 DOLLAR GENERAL CORP ORD 3.81 Alpha: -0.01 Beta: 0.95 Standard Deviation: 10.61 Sharpe Ratio: 0.80 JPMORGAN CHASE & CO ORD 3.78 Alpha measures Beta measuresa a portfolio's Standard deviation is Aa measure that usesAMERISOURCEBERGEN CORP ORD 3.72 manager's contribution to sensitivity to marketmeasure of risk that gauges standard deviation andEBAY INC ORD 3.68 performance due movementsto in the broad the variability of actualexcess return to determine UNILEVER PLC DR 3.61 security selection or market based index. returns from their expected reward per unit of risk. Percent of Assets in Top Holdings 40.82 timing relative to the broad values and the dispersion of based index. these variations over time. Asset Allocation as of 03/31/17
Equity 93.31 Best 3 Month Period Worst 3 Month Period Performance Date Performance Date Cash 6.69
FMI:Large Cap;Inv 10.65 01/31/2017 -7.58 09/30/2015 Broad Based Index: S&P 500 Daily Reinv IX 9.12 05/31/2016 -6.59 02/29/2016 Best Fit Index: Russell 1000 Value TR IX 11.16 05/31/2016 -8.39 09/30/2015
Other Key Facts About This Fund
Current NAV 21.40 Number of Equities Held 30 1 Yield - 30 Days (%) 0.00 Average Price to Earnings 21.85 Top Sectors by Percent as of 03/31/17 Yield - 12 Months (%) 1.07 Average Price to Book 4.56 Consumer Services 25.42
Fund fact sheet not valid without Disclaimer Page. Past performance is no guarantee of future results. Industrials 18.38 Investment return and value of shares will fluctuate, so those shares, when redeemed, may be worth more or Financials 16.98 less than their original cost. This report is not authorized for distribution unless accompanied or preceded by Consumer Goods 9.81 a current prospectus of the fund. Call 800-811-5311 for the most recent month-end performance results. The Technology 7.50 prospectus contains important information of the fund, including its management fees, sales charges, and Oil & Gas 4.92 other expenses. Please read the prospectus carefully before you invest or send money. Health Care 4.28 Date of first use: 07/19/17 Telecommunications 3.07 Lipper, a Thomson Reuters Company. Copyright 2017 Thomson Reuters. All rights reserved. Any copying, Basic Materials 2.95 republication or redistribution of Lipper content is expressly prohibited without the prior written consent of
Lipper. Lipper Fund Fact Sheets Service; Product ID: D1v2.4. 1 Sector weightings are based on Industry Classification Benchmark (ICB) Industries.
Oo JPMorgan:MdCp Val;L Data updated as of 06/30/2017 Fund Overview Fund Full Name JP Morgan Fleming Mutual Fund Group, Inc: JPMorgan Mid NASDAQ Ticker Symbol FLMVX Inception Date 11/13/1997 Cap Value Fund; Class L Shares Asset Type Equity Funds Fund Manager Simon/Playford/Fu Total Net Assets ($M) 12467.9 Fund Manager Tenure 1997, 2004, 2006 Lipper Classification Gross Expense Ratio (%) 0.95 Management Company Multi-Cap Core Funds Net Expense Ratio (%) 0.75 JPMorgan Funds 522 Fifth Avenue 18th Floor Portfolio Turnover Percent 20 New York NY 10036 Investment Policy Average Market Capitalization ($M) 15,885 800-480-4111 The Fund seeks growth through common stocks of issuers with above average growth potential. Under normal circumstances, the Fund invests at least 80% of its assets in equity securities of mid cap companies. Trailing Performance 06/30/2017
Cumulative (%) Annualized (%) Growth of $10,000 Investment Quarter Year Since 24 to Date to Date 1 Year 3 Year 5 Year 10 Year Incep. 22 JPMorgan:MdCp Val;L 2.27 6.32 14.39 8.20 14.55 8.37 12.85 20 Broad Based Index: S&P 500 Daily Reinv IX 3.09 9.34 17.90 9.61 14.63 7.18 -- 18 16 Best Fit Index: Russell Mid Cp TR IX 2.70 7.99 16.48 7.69 14.72 7.67 -- 14 Peer Group Average: Lipper Multi-Cap Core Average 2.77 8.39 17.62 6.58 13.18 5.88 -- 12 10 8 6 4 07 08 09 10 11 12 13 14 15 16 17 Calendar Year Performance 12/31/2016
2012 2013 2014 2015 2016 JPMorgan:MdCp Val;L Russell Mid Cp TR IX $22,330 $20,940 JPMorgan:MdCp Val;L 20.48 31.99 15.14 -2.35 14.62 Broad Based Index: S&P 500 Daily Reinv IX 16.00 32.39 13.69 1.38 11.96 Top Holdings as of 05/31/17 Best Fit Index: Russell Mid Cp TR IX 17.28 34.76 13.22 -2.44 13.80
Holding Name Percent of Assets JPMORGAN US GOVERNMENT MONEY MARKET FUND;INST 3.57 ENERGEN CORP ORD 2.12 Risk Analysis (3 Year) 06/30/2017 MOHAWK INDUSTRIES INC ORD 2.02
LOEWS CORP ORD 1.85 These statistics are measured against the Fund's broad based index: S&P 500 Daily Reinv IX EQT CORP ORD 1.72 M&T BANK CORP ORD 1.64 Alpha: 0.07 Beta: 0.95 Standard Deviation: 10.92 Sharpe Ratio: 0.87 EXPEDIA INC ORD 1.62 Alpha measures Beta measuresa a portfolio's Standard deviation is Aa measure that usesXCEL ENERGY INC ORD 1.60 manager's contribution to sensitivity to marketmeasure of risk that gauges standard deviation andCMS ENERGY CORP ORD 1.55 performance due movementsto in the broad the variability of actualexcess return to determine BALL CORP ORD 1.51 security selection or market based index. returns from their expected reward per unit of risk. Percent of Assets in Top Holdings 19.20 timing relative to the broad values and the dispersion of based index. these variations over time. Asset Allocation as of 05/31/17
Equity 96.43 Best 3 Month Period Worst 3 Month Period Performance Date Performance Date Cash 1.84 JPMorgan:MdCp Val;L 10.26 05/31/2016 -7.28 09/30/2015 Fixed Income 1.73 Broad Based Index: S&P 500 Daily Reinv IX 9.12 05/31/2016 -6.59 02/29/2016 Best Fit Index: Russell Mid Cp TR IX 11.13 05/31/2016 -8.82 01/31/2016
Other Key Facts About This Fund
Current NAV 38.70 Number of Equities Held 108 1 Yield - 30 Days (%) 0.00 Average Price to Earnings 25.05 Top Sectors by Percent as of 05/31/17 Yield - 12 Months (%) 0.82 Average Price to Book 3.54 Financials 30.89
Fund fact sheet not valid without Disclaimer Page. Past performance is no guarantee of future results. Industrials 15.93 Investment return and value of shares will fluctuate, so those shares, when redeemed, may be worth more or Consumer Goods 13.17 less than their original cost. This report is not authorized for distribution unless accompanied or preceded by a current prospectus of the fund. Call 800-480-4111 for the most recent month-end performance results. The Consumer Services 12.62 prospectus contains important information of the fund, including its management fees, sales charges, and Utilities 8.95 other expenses. Please read the prospectus carefully before you invest or send money. Oil & Gas 5.73 Date of first use: 07/19/17 Technology 4.89
Lipper, a Thomson Reuters Company. Copyright 2017 Thomson Reuters. All rights reserved. Any copying, Health Care 4.27 republication or redistribution of Lipper content is expressly prohibited without the prior written consent of
Lipper. Lipper Fund Fact Sheets Service; Product ID: D1v2.4. 1 Sector weightings are based on Industry Classification Benchmark (ICB) Industries.
Oo Vanguard MC Gr Idx;Adm Data updated as of 06/30/2017 Fund Overview Fund Full Name Vanguard Index Funds: Vanguard Mid-Cap Growth Index Fund; NASDAQ Ticker Symbol VMGMX Inception Date 09/27/2011 Admiral Class Shares Asset Type Equity Funds Fund Manager Butler/Johnson Total Net Assets ($M) 4923.2 Fund Manager Tenure 2013, 2016 Lipper Classification Gross Expense Ratio (%) 0.07 Management Company Mid-Cap Growth Funds Net Expense Ratio (%) 0.07 Vanguard Group Inc 100 Vanguard Boulevard Portfolio Turnover Percent 21 Malvern PA 19355 Investment Policy Average Market Capitalization ($M) 14,936 800-662-7447 The Fund seeks to track the performance of a benchmark index that measures the investment return of mid-capitalization growth stocks. The Fund employs a "passive management"--or indexing--investment approach designed to track the performance of the MSCI US Mid Cap Growth Index. Trailing Performance 06/30/2017
Cumulative (%) Annualized (%) Growth of $10,000 Investment Quarter Year Since 24 to Date to Date 1 Year 3 Year 5 Year 10 Year Incep. 22 Vanguard MC Gr Idx;Adm 4.37 11.79 16.44 7.88 13.72 -- 13.93 20 Broad Based Index: S&P 500 Daily Reinv IX 3.09 9.34 17.90 9.61 14.63 7.18 -- 18 Best Fit Index: Russell Mid Cp Gro TR IX 4.21 11.40 17.05 7.83 14.19 7.87 -- 16 Peer Group Average: Lipper Mid-Cap Growth Average 4.80 12.70 18.88 6.92 12.88 6.86 -- 14 12 10 11 12 13 14 15 16 Calendar Year Performance 12/31/2016
2012 2013 2014 2015 2016 Vanguard MC Gr Idx;Adm Russell Mid Cp Gro TR IX $22,685 $23,349 Vanguard MC Gr Idx;Adm 15.96 32.22 13.48 -0.98 6.75 Broad Based Index: S&P 500 Daily Reinv IX 16.00 32.39 13.69 1.38 11.96 Top Holdings as of 06/30/17 Best Fit Index: Russell Mid Cp Gro TR IX 15.81 35.74 11.90 -0.20 7.33
Holding Name Percent of Assets FISERV INC ORD 1.59 EDWARDS LIFESCIENCES CORP ORD 1.52 Risk Analysis (3 Year) 06/30/2017 ROPER TECHNOLOGIES INC ORD 1.45
C R BARD INC ORD 1.40 These statistics are measured against the Fund's broad based index: S&P 500 Daily Reinv IX LAM RESEARCH CORP ORD 1.40 AMPHENOL CORP ORD 1.38 Alpha: -0.20 Beta: 1.08 Standard Deviation: 12.45 Sharpe Ratio: 0.61 INCYTE CORP ORD 1.34 Alpha measures Beta measuresa a portfolio's Standard deviation is Aa measure that usesAUTODESK INC ORD 1.29 manager's contribution to sensitivity to marketmeasure of risk that gauges standard deviation andCERNER CORP ORD 1.21 performance due movementsto in the broad the variability of actualexcess return to determine MOODY'S CORP ORD 1.21 security selection or market based index. returns from their expected reward per unit of risk. Percent of Assets in Top Holdings 13.79 timing relative to the broad values and the dispersion of based index. these variations over time. Asset Allocation as of 06/30/17
Equity 99.20 Best 3 Month Period Worst 3 Month Period Performance Date Performance Date Other 0.78 Vanguard MC Gr Idx;Adm 10.69 05/31/2016 -10.32 01/31/2016 Fixed Income 0.02 Broad Based Index: S&P 500 Daily Reinv IX 9.12 05/31/2016 -6.59 02/29/2016 Best Fit Index: Russell Mid Cp Gro TR IX 8.83 05/31/2016 -9.46 01/31/2016
Other Key Facts About This Fund
Current NAV 50.65 Number of Equities Held 158 1 Yield - 30 Days (%) 0.00 Average Price to Earnings 35.19 Top Sectors by Percent as of 06/30/17 Yield - 12 Months (%) 0.79 Average Price to Book 6.78 Industrials 23.56
Fund fact sheet not valid without Disclaimer Page. Past performance is no guarantee of future results. Financials 18.86 Investment return and value of shares will fluctuate, so those shares, when redeemed, may be worth more or Technology 17.33 less than their original cost. This report is not authorized for distribution unless accompanied or preceded by Health Care 14.02 a current prospectus of the fund. Call 800-662-7447 for the most recent month-end performance results. The Consumer Services 10.91 prospectus contains important information of the fund, including its management fees, sales charges, and Consumer Goods 7.68 other expenses. Please read the prospectus carefully before you invest or send money. Oil & Gas 4.75 Date of first use: 07/20/17 Telecommunications 1.35 Lipper, a Thomson Reuters Company. Copyright 2017 Thomson Reuters. All rights reserved. Any copying, Basic Materials 0.73 republication or redistribution of Lipper content is expressly prohibited without the prior written consent of
Lipper. Lipper Fund Fact Sheets Service; Product ID: D1v2.4. 1 Sector weightings are based on Industry Classification Benchmark (ICB) Industries.
Oo Westcore:SC Val D;Inst Data updated as of 06/30/2017 Fund Overview Fund Full Name Westcore Trust: Westcore Small-Cap Value Dividend Fund; NASDAQ Ticker Symbol WISVX Inception Date 09/28/2007 Institutional Class Shares Asset Type Equity Funds Fund Manager Team Managed Total Net Assets ($M) 129.3 Fund Manager Tenure -- Lipper Classification Gross Expense Ratio (%) 1.25 Management Company Equity Income Funds Net Expense Ratio (%) 1.09 Westcore Funds 370 17th Street Suite 3100 Portfolio Turnover Percent 96 Denver CO 80202 Investment Policy Average Market Capitalization ($M) 2,579 800-392-2673 The Fund seeks long-term capital appreciation. The Fund invests in dividend paying small-cap companies whose stocks appear to be undervalued. The Fund invests at least 80% of the value of its net assets in companies with market capitalizations of $2 billion or less. Trailing Performance 06/30/2017
Cumulative (%) Annualized (%) Growth of $10,000 Investment Quarter Year Since 22 to Date to Date 1 Year 3 Year 5 Year 10 Year Incep. 20 Westcore:SC Val D;Inst 0.00 -2.47 19.29 6.61 12.04 -- 5.96 18 Broad Based Index: S&P 500 Daily Reinv IX 3.09 9.34 17.90 9.61 14.63 7.18 -- 16 Best Fit Index: S&P SC 600 Value TR IX 1.29 0.86 21.79 8.37 15.44 7.59 -- 14 12 Peer Group Average: Lipper Equity Income Average 0.46 0.50 21.53 4.71 12.26 5.73 -- 10 8 6 4 07 08 09 10 11 12 13 14 15 16 Calendar Year Performance 12/31/2016
2012 2013 2014 2015 2016 Westcore:SC Val D;Inst S&P SC 600 Value TR IX $17,587 $21,807 Westcore:SC Val D;Inst 9.78 36.86 6.62 -7.98 29.98 Broad Based Index: S&P 500 Daily Reinv IX 16.00 32.39 13.69 1.38 11.96 Top Holdings as of 05/31/17 Best Fit Index: S&P SC 600 Value TR IX 18.21 39.98 7.54 -6.67 31.32
Holding Name Percent of Assets DEAN FOODS CO ORD 3.10 GOLDMAN SACHS FS GOVERNMENT FUND;INSTITUTIONAL 2.85 Risk Analysis (3 Year) 06/30/2017 ENERPLUS CORP ORD 2.85
TETRA TECH INC ORD 2.60 These statistics are measured against the Fund's broad based index: S&P 500 Daily Reinv IX GRAMERCY PROPERTY TRUST ORD 2.30 TIVO CORP ORD 2.21 Alpha: -0.14 Beta: 1.08 Standard Deviation: 14.37 Sharpe Ratio: 0.59 FIRST HORIZON NATIONAL CORP ORD 2.17 Alpha measures Beta measuresa a portfolio's Standard deviation is Aa measure that usesCYRUSONE INC ORD 2.10 manager's contribution to sensitivity to marketmeasure of risk that gauges standard deviation andREALOGY HOLDINGS CORP ORD 2.09 performance due movementsto in the broad the variability of actualexcess return to determine HANCOCK HOLDING CO ORD 2.07 security selection or market based index. returns from their expected reward per unit of risk. Percent of Assets in Top Holdings 24.34 timing relative to the broad values and the dispersion of based index. these variations over time. Asset Allocation as of 05/31/17
Equity 97.11 Best 3 Month Period Worst 3 Month Period Performance Date Performance Date Cash 1.60 Westcore:SC Val D;Inst 16.14 01/31/2017 -9.79 02/29/2016 Fixed Income 1.28 Broad Based Index: S&P 500 Daily Reinv IX 9.12 05/31/2016 -6.59 02/29/2016 Other 0.00 Best Fit Index: S&P SC 600 Value TR IX 15.67 01/31/2017 -10.70 09/30/2015
Other Key Facts About This Fund
Current NAV 12.22 Number of Equities Held 66 1 Yield - 30 Days (%) 0.00 Average Price to Earnings 24.35 Top Sectors by Percent as of 05/31/17 Yield - 12 Months (%) 1.75 Average Price to Book 2.64 Financials 35.73
Fund fact sheet not valid without Disclaimer Page. Past performance is no guarantee of future results. Industrials 19.41 Investment return and value of shares will fluctuate, so those shares, when redeemed, may be worth more or Consumer Services 11.22 less than their original cost. This report is not authorized for distribution unless accompanied or preceded by Technology 7.43 a current prospectus of the fund. Call 800-392-2673 for the most recent month-end performance results. The Consumer Goods 6.63 prospectus contains important information of the fund, including its management fees, sales charges, and Utilities 5.95 other expenses. Please read the prospectus carefully before you invest or send money. Oil & Gas 4.26 Date of first use: 07/20/17 Basic Materials 3.90 Lipper, a Thomson Reuters Company. Copyright 2017 Thomson Reuters. All rights reserved. Any copying, Health Care 2.59 republication or redistribution of Lipper content is expressly prohibited without the prior written consent of
Lipper. Lipper Fund Fact Sheets Service; Product ID: D1v2.4. 1 Sector weightings are based on Industry Classification Benchmark (ICB) Industries.
Oo Voya:SmCp Opptys;R6 Data updated as of 06/30/2017 Fund Overview Fund Full Name Voya Equity Trust: Voya SmallCap Opportunities Fund; Class R6 NASDAQ Ticker Symbol ISOZX Inception Date 05/31/2013 Shares Asset Type Equity Funds Fund Manager Hasso/Basset Total Net Assets ($M) 213.8 Fund Manager Tenure 2013, 2013 Lipper Classification Gross Expense Ratio (%) 0.99 Management Company Small-Cap Growth Funds Net Expense Ratio (%) 0.99 Voya Investments LLC 7337 East Doubletree Ranch Road Portfolio Turnover Percent 65 Scottsdale AZ 85258 Investment Policy Average Market Capitalization ($M) 2,771 800-992-0180 The Fund seeks to maximize long-term capital appreciation by investing in equity securities of primarily small US companies with above average prospects for earnings growth. Trailing Performance 06/30/2017
Cumulative (%) Annualized (%) Growth of $10,000 Investment Quarter Year Since 16 to Date to Date 1 Year 3 Year 5 Year 10 Year Incep. 15 Voya:SmCp Opptys;R6 3.30 9.84 23.37 8.08 -- -- 11.12 14 Broad Based Index: S&P 500 Daily Reinv IX 3.09 9.34 17.90 9.61 14.63 7.18 -- 13 Best Fit Index: Russell 2000 Gro TR IX 4.39 9.97 24.40 7.64 13.98 7.82 -- 12 Peer Group Average: Lipper Small-Cap Growth Average 4.58 10.78 22.82 6.50 12.54 6.98 -- 11 10 9 13 14 15 16 17 Calendar Year Performance 12/31/2016
2012 2013 2014 2015 2016 Voya:SmCp Opptys;R6 Russell 2000 Gro TR IX $15,380 $15,460 Voya:SmCp Opptys;R6 -- -- 5.31 -1.09 12.89 Broad Based Index: S&P 500 Daily Reinv IX 16.00 32.39 13.69 1.38 11.96 Top Holdings as of 03/31/17 Best Fit Index: Russell 2000 Gro TR IX 14.59 43.30 5.60 -1.38 11.32
Holding Name Percent of Assets BLACKROCK LIQUIDITY FEDFUND;INSTITUTIONAL 2.21 ISHARES RUSSELL 2000 GROWTH ETF 1.98 Risk Analysis (3 Year) 06/30/2017 EPAM SYSTEMS INC ORD 1.38
BRIGHT HORIZONS FAMILY SOLUTIONS INC ORD 1.25 These statistics are measured against the Fund's broad based index: S&P 500 Daily Reinv IX HEALTHSOUTH CORP ORD 1.24 INTEGRATED DEVICE TECHNOLOGY INC ORD 1.22 Alpha: -0.44 Beta: 1.25 Standard Deviation: 15.58 Sharpe Ratio: 0.42 FAIR ISAAC CORP ORD 1.19 Alpha measures Beta measuresa a portfolio's Standard deviation is Aa measure that usesJACK IN THE BOX INC ORD 1.18 manager's contribution to sensitivity to marketmeasure of risk that gauges standard deviation andCARDTRONICS PLC ORD 1.14 performance due movementsto in the broad the variability of actualexcess return to determine ELLIE MAE INC ORD 1.14 security selection or market based index. returns from their expected reward per unit of risk. Percent of Assets in Top Holdings 13.93 timing relative to the broad values and the dispersion of based index. these variations over time. Asset Allocation as of 03/31/17
Equity 97.13 Best 3 Month Period Worst 3 Month Period Performance Date Performance Date Fixed Income 1.25 Voya:SmCp Opptys;R6 13.76 05/31/2016 -14.79 02/29/2016 Cash 0.96 Broad Based Index: S&P 500 Daily Reinv IX 9.12 05/31/2016 -6.59 02/29/2016 Other 0.66 Best Fit Index: Russell 2000 Gro TR IX 12.23 01/31/2017 -15.69 02/29/2016
Other Key Facts About This Fund
Current NAV 64.88 Number of Equities Held 148 1 Yield - 30 Days (%) 0.00 Average Price to Earnings 34.68 Top Sectors by Percent as of 03/31/17 Yield - 12 Months (%) 0.00 Average Price to Book 5.96 Technology 21.34 Health Care 19.14 Fund fact sheet not valid without Disclaimer Page. Past performance is no guarantee of future results. Investment return and value of shares will fluctuate, so those shares, when redeemed, may be worth more or Industrials 18.21 less than their original cost. This report is not authorized for distribution unless accompanied or preceded by Consumer Services 15.89 a current prospectus of the fund. Call 800-992-0180 for the most recent month-end performance results. The Financials 9.86 prospectus contains important information of the fund, including its management fees, sales charges, and Consumer Goods 6.30 Basic Materials 5.01 other expenses. Please read the prospectus carefully before you invest or send money. Date of first use: 07/20/17 Oil & Gas 1.35 Telecommunications 0.02 Lipper, a Thomson Reuters Company. Copyright 2017 Thomson Reuters. All rights reserved. Any copying, Utilities 0.01 republication or redistribution of Lipper content is expressly prohibited without the prior written consent of
Lipper. Lipper Fund Fact Sheets Service; Product ID: D1v2.4. 1 Sector weightings are based on Industry Classification Benchmark (ICB) Industries.
Oo American Funds EuPc;R6 Data updated as of 06/30/2017 Fund Overview Fund Full Name EuroPacific Growth Fund; Class R6 Shares NASDAQ Ticker Symbol RERGX Inception Date 05/01/2009 Asset Type Equity Funds Fund Manager Team Managed Lipper Classification Total Net Assets ($M) 56264.6 Fund Manager Tenure -- International Large-Cap Growth Gross Expense Ratio (%) 0.50 Management Company Net Expense Ratio (%) 0.50 American Funds 333 South Hope Street 52nd Floor Investment Policy Portfolio Turnover Percent 36 Los Angeles CA 90071-1406 The Fund seeks to provide long-term growth of capital by Average Market Capitalization ($M) 69,324 800-421-4225 investing in companies based outside the United States. The Fund Invests in companies based chiefly in Europe and the Pacific Basin, ranging from small firms to large corporations. Trailing Performance 06/30/2017
Cumulative (%) Annualized (%) Growth of $10,000 Investment Quarter Year Since 20 to Date to Date 1 Year 3 Year 5 Year 10 Year Incep. American Funds EuPc;R6 7.69 17.78 22.18 3.72 9.61 -- 9.92 18 Broad Based Index: MSCI EAFE ND IX 6.12 13.81 20.27 1.15 8.69 1.03 -- 16 Best Fit Index: MSCI EAFE ND IX 6.12 13.81 20.27 1.15 8.69 1.03 -- 14 Peer Group Average: Lipper Intl Large-Cap Growth Average 7.15 16.06 17.87 2.12 7.84 2.37 -- 12 10 8 09 10 11 12 13 14 15 16 17 Calendar Year Performance 12/31/2016
2012 2013 2014 2015 2016 American Funds EuPc;R6 MSCI EAFE ND IX $19,334 $17,944 American Funds EuPc;R6 19.64 20.58 -2.29 -0.48 1.01 Broad Based Index: MSCI EAFE ND IX 17.32 22.78 -4.90 -0.81 1.00 Top Holdings as of 03/31/17 Best Fit Index: MSCI EAFE ND IX 17.32 22.78 -4.90 -0.81 1.00
Holding Name Percent of Assets BRITISH AMERICAN TOBACCO PLC ORD 2.86 SAMSUNG ELECTRONICS CO LTD ORD 2.59 Risk Analysis (3 Year) 06/30/2017 ALIBABA GROUP HOLDING LTD DR 2.13
TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD ORD 2.12 These statistics are measured against the Fund's broad based index: MSCI EAFE ND IX AIA GROUP LTD ORD 2.09 TENCENT HOLDINGS LTD ORD 1.88 Alpha: 0.15 Beta: 0.86 Standard Deviation: 11.09 Sharpe Ratio: 0.03 HDFC BANK LTD ORD 1.83 Alpha measures Beta measuresa a portfolio's Standard deviation is Aa measure that usesSOFTBANK GROUP CORP ORD 1.75 manager's contribution to sensitivity to marketmeasure of risk that gauges standard deviation andAIRBUS SE ORD 1.63 performance due movementsto in the broad the variability of actualexcess return to determine RELIANCE INDUSTRIES LTD ORD 1.59 security selection or market based index. returns from their expected reward per unit of risk. Percent of Assets in Top Holdings 20.47 timing relative to the broad values and the dispersion of based index. these variations over time. Asset Allocation as of 03/31/17
Equity 89.82 Best 3 Month Period Worst 3 Month Period Performance Date Performance Date Fixed Income 9.51 American Funds EuPc;R6 10.40 05/31/2017 -10.93 02/29/2016 Cash 0.49 Broad Based Index: MSCI EAFE ND IX 9.23 05/31/2017 -10.23 09/30/2015 Other 0.18 Best Fit Index: MSCI EAFE ND IX 9.23 05/31/2017 -10.23 09/30/2015
Other Key Facts About This Fund
Current NAV 51.92 Number of Equities Held 376 1 Yield - 30 Days (%) 1.20 Average Price to Earnings 27.71 Top Sectors by Percent as of 03/31/17 Yield - 12 Months (%) 1.74 Average Price to Book 4.66 Financials 17.35 Consumer Goods 16.90 Fund fact sheet not valid without Disclaimer Page. Past performance is no guarantee of future results. Investment return and value of shares will fluctuate, so those shares, when redeemed, may be worth more or Industrials 11.71 less than their original cost. This report is not authorized for distribution unless accompanied or preceded by Consumer Services 10.78 a current prospectus of the fund. Call 800-421-4225 for the most recent month-end performance results. The Technology 8.22 prospectus contains important information of the fund, including its management fees, sales charges, and Health Care 6.32 Oil & Gas 6.01 other expenses. Please read the prospectus carefully before you invest or send money. Date of first use: 07/20/17 Basic Materials 5.18 Telecommunications 4.84 Lipper, a Thomson Reuters Company. Copyright 2017 Thomson Reuters. All rights reserved. Any copying, Utilities 2.51 republication or redistribution of Lipper content is expressly prohibited without the prior written consent of
Lipper. Lipper Fund Fact Sheets Service; Product ID: D1v2.4. 1 Sector weightings are based on Industry Classification Benchmark (ICB) Industries.
Oo DFA Intl Sm Co;I Data updated as of 06/30/2017 Fund Overview Fund Full Name DFA Investment Dimensions Group Inc: International Small NASDAQ Ticker Symbol DFISX Inception Date 09/30/1996 Company Portfolio; Institutional Class Shares Asset Type Equity Funds Fund Manager Team Managed Total Net Assets ($M) 12630.7 Fund Manager Tenure -- Lipper Classification Gross Expense Ratio (%) 0.53 Management Company International Small/Mid-Cap Core Net Expense Ratio (%) 0.53 Dimensional Fund Advisors LP 6300 Bee Cave Road Building One Portfolio Turnover Percent -- Austin TX 78746 Investment Policy Average Market Capitalization ($M) 1,955 800-366-7266 The Fund seeks to invest in four series of the Trust. The International Small company portfolio is designed for investors wanting to achieve their investment goals by investing in Japanese, U.K., European and Pacific Rim Small Companies. Trailing Performance 06/30/2017
Cumulative (%) Annualized (%) Growth of $10,000 Investment Quarter Year Since 16 to Date to Date 1 Year 3 Year 5 Year 10 Year Incep. DFA Intl Sm Co;I 7.37 16.39 24.07 4.56 12.26 3.69 7.31 14 Broad Based Index: MSCI EAFE ND IX 6.12 13.81 20.27 1.15 8.69 1.03 -- 12 Best Fit Index: MSCI Wld X-US Smcp ND IX 7.28 15.45 21.26 4.02 11.43 2.92 -- 10 Peer Group Average: Lipper Intl Sm/Mid-Cap Core Average 7.47 16.78 21.93 2.66 9.76 2.10 -- 8 6 4 07 08 09 10 11 12 13 14 15 16 17 Calendar Year Performance 12/31/2016
2012 2013 2014 2015 2016 DFA Intl Sm Co;I MSCI Wld X-US Smcp ND IX $14,362 $13,339 DFA Intl Sm Co;I 18.86 27.44 -6.30 5.91 5.80 Broad Based Index: MSCI EAFE ND IX 17.32 22.78 -4.90 -0.81 1.00 Top Holdings as of 01/31/17 Best Fit Index: MSCI Wld X-US Smcp ND IX 17.48 25.55 -5.34 5.46 4.32
Holding Name Percent of Assets DFA CONTINENTAL SMALL COMPANY SERIES [MASTER] 37.02 DFA JAPANESE SMALL COMPANY SERIES [MASTER] 24.47 Risk Analysis (3 Year) 06/30/2017 DFA UNITED KINGDOM SMALL COMPANY SERIES [MASTER] 16.24
DFA ASIA PACIFIC SMALL COMPANY PORTFOLIO;INST 11.89 These statistics are measured against the Fund's broad based index: MSCI EAFE ND IX DFA CANADIAN SMALL COMPANY SERIES (MASTER) 9.66 OTHER ASSETS 0.73 Alpha: 0.31 Beta: 0.87 Standard Deviation: 11.84 Sharpe Ratio: 0.19 Alpha measures Beta measuresa a portfolio's Standard deviation is Aa measure that uses manager's contribution to sensitivity to marketmeasure of risk that gauges standard deviation and performance due movementsto in the broad the variability of actualexcess return to determine security selection or market based index. returns from their expected reward per unit of risk. Percent of Assets in Top Holdings 100.01 timing relative to the broad values and the dispersion of based index. these variations over time. Asset Allocation as of 01/31/17
Equity 148.15 Best 3 Month Period Worst 3 Month Period Performance Date Performance Date Cash 0.07 DFA Intl Sm Co;I 11.18 05/31/2016 -8.90 11/30/2014 Other -48.22 Broad Based Index: MSCI EAFE ND IX 9.23 05/31/2017 -10.23 09/30/2015 Best Fit Index: MSCI Wld X-US Smcp ND IX 12.33 04/30/2016 -8.53 11/30/2014
Other Key Facts About This Fund
Current NAV 19.98 Number of Equities Held 6 1 Yield - 30 Days (%) 0.00 Average Price to Earnings 20.06 Top Sectors by Percent as of 01/31/17 Yield - 12 Months (%) 1.49 Average Price to Book 2.49 Industrials 37.20 Consumer Services 27.77 Fund fact sheet not valid without Disclaimer Page. Past performance is no guarantee of future results. Investment return and value of shares will fluctuate, so those shares, when redeemed, may be worth more or Financials 23.26 less than their original cost. This report is not authorized for distribution unless accompanied or preceded by Consumer Goods 17.80 a current prospectus of the fund. Call 800-366-7266 for the most recent month-end performance results. The Basic Materials 14.69 prospectus contains important information of the fund, including its management fees, sales charges, and Health Care 9.62 Technology 7.64 other expenses. Please read the prospectus carefully before you invest or send money. Date of first use: 07/19/17 Oil & Gas 4.00 Telecommunications 3.22 Lipper, a Thomson Reuters Company. Copyright 2017 Thomson Reuters. All rights reserved. Any copying, Utilities 2.42 republication or redistribution of Lipper content is expressly prohibited without the prior written consent of
Lipper. Lipper Fund Fact Sheets Service; Product ID: D1v2.4. 1 Sector weightings are based on Industry Classification Benchmark (ICB) Industries.
Oo Oppenheimer Dev Mkts;I Data updated as of 06/30/2017 Fund Overview Fund Full Name Oppenheimer Developing Markets Fund; Class I Shares NASDAQ Ticker Symbol ODVIX Inception Date 12/29/2011 Asset Type Equity Funds Fund Manager Leverenz/Lech Lipper Classification Total Net Assets ($M) 10584.6 Fund Manager Tenure 2011, 2015 Emerging Markets Funds Gross Expense Ratio (%) 0.88 Management Company Net Expense Ratio (%) 0.88 OppenheimerFunds Inc Two World Financial Center 225 Liberty Street, 11th Floor Investment Policy Portfolio Turnover Percent 18 New York NY 10281-1008 The Fund seeks aggressive capital appreciation by investing in Average Market Capitalization ($M) 59,264 800-225-5677 common stocks of issuers in emerging and developing markets throughout the world. The Fund will invest at least 80% of its total assets in equity securities of companies with high growth potential in at least three developing markets. Trailing Performance 06/30/2017
Cumulative (%) Annualized (%) Growth of $10,000 Investment Quarter Year Since 15 to Date to Date 1 Year 3 Year 5 Year 10 Year Incep. 14 Oppenheimer Dev Mkts;I 6.99 18.84 22.81 -0.24 5.17 -- 6.24 13 Broad Based Index: MSCI EAFE ND IX 6.12 13.81 20.27 1.15 8.69 1.03 -- 12 Best Fit Index: MSCI Emerging Mkt ND IX 6.27 18.43 23.75 1.07 3.96 1.91 -- 11 Peer Group Average: Lipper Emerging Markets Average 5.79 17.73 20.22 0.28 3.99 1.44 -- 10 9 8 11 12 13 14 15 16 Calendar Year Performance 12/31/2016
2012 2013 2014 2015 2016 Oppenheimer Dev Mkts;I MSCI Emerging Mkt ND IX $13,923 $12,618 Oppenheimer Dev Mkts;I 21.43 8.85 -4.39 -13.67 7.38 Broad Based Index: MSCI EAFE ND IX 17.32 22.78 -4.90 -0.81 1.00 Top Holdings as of 02/28/17 Best Fit Index: MSCI Emerging Mkt ND IX 18.22 -2.60 -2.19 -14.92 11.19
Holding Name Percent of Assets ALIBABA GROUP HOLDING LTD DR 5.79 TENCENT HOLDINGS LTD ORD 4.96 Risk Analysis (3 Year) 06/30/2017 TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD ORD 4.89
HOUSING DEVELOPMENT FINANCE CORPORATION LTD ORD 4.55 These statistics are measured against the Fund's broad based index: MSCI EAFE ND IX NOVATEK PAO DR 3.26 MAGNIT PAO ORD 2.96 Alpha: -0.12 Beta: 0.98 Standard Deviation: 15.13 Sharpe Ratio: -0.17 OPPENHEIMER INSTITUTIONAL GOVT MONEY MARKET;E 2.93 Alpha measures Beta measuresa a portfolio's Standard deviation is Aa measure that usesINFOSYS LTD ORD 2.72 manager's contribution to sensitivity to marketmeasure of risk that gauges standard deviation andMASTER CHINA FUND 2.61 performance due movementsto in the broad the variability of actualexcess return to determine AIA GROUP LTD ORD 2.32 security selection or market based index. returns from their expected reward per unit of risk. Percent of Assets in Top Holdings 36.99 timing relative to the broad values and the dispersion of based index. these variations over time. Asset Allocation as of 02/28/17
Equity 93.84 Best 3 Month Period Worst 3 Month Period Performance Date Performance Date Other 3.18 Oppenheimer Dev Mkts;I 11.08 03/31/2017 -17.23 09/30/2015 Fixed Income 2.05 Broad Based Index: MSCI EAFE ND IX 9.23 05/31/2017 -10.23 09/30/2015 Cash 0.93 Best Fit Index: MSCI Emerging Mkt ND IX 13.66 04/30/2016 -17.90 09/30/2015
Other Key Facts About This Fund
Current NAV 37.98 Number of Equities Held 95 1 Yield - 30 Days (%) 0.00 Average Price to Earnings 26.96 Top Sectors by Percent as of 02/28/17 Yield - 12 Months (%) 0.60 Average Price to Book 4.51 Consumer Services 24.73
Fund fact sheet not valid without Disclaimer Page. Past performance is no guarantee of future results. Financials 23.05 Investment return and value of shares will fluctuate, so those shares, when redeemed, may be worth more or Technology 17.13 less than their original cost. This report is not authorized for distribution unless accompanied or preceded by Consumer Goods 10.61 a current prospectus of the fund. Call 800-225-5677 for the most recent month-end performance results. The Industrials 7.25 prospectus contains important information of the fund, including its management fees, sales charges, and Health Care 5.09 other expenses. Please read the prospectus carefully before you invest or send money. Oil & Gas 3.26 Date of first use: 07/20/17 Basic Materials 2.01 Lipper, a Thomson Reuters Company. Copyright 2017 Thomson Reuters. All rights reserved. Any copying, Non Classified Equity 0.72 republication or redistribution of Lipper content is expressly prohibited without the prior written consent of
Lipper. Lipper Fund Fact Sheets Service; Product ID: D1v2.4. 1 Sector weightings are based on Industry Classification Benchmark (ICB) Industries.
Oo PIMCO:Comm+ Strat;Inst Data updated as of 06/30/2017 Fund Overview Fund Full Name PIMCO Funds: PIMCO CommoditiesPLUS Strategy Fund; NASDAQ Ticker Symbol PCLIX Inception Date 05/28/2010 Institutional Class Shares Asset Type Equity Funds Fund Manager Johnson/Sharenow Total Net Assets ($M) 2248.7 Fund Manager Tenure 2010, 2015 Lipper Classification Gross Expense Ratio (%) 0.96 Management Company Commodities General Funds Net Expense Ratio (%) 0.77 PIMCO 840 Newport Center Drive Suite 100 Portfolio Turnover Percent 211 Newport Beach CA 92660 Investment Policy Average Market Capitalization ($M) 588 888-877-4626 The Fund seeks total return which exceeds that of its benchmark. The Fund seeks to achieve its investment objective by investing under normal circumstances in commodity-linked derivative instruments backed by an actively managed, low volatility portfolio of fixed income Trailing Performance 06/30/2017 instruments.
Cumulative (%) Annualized (%) Growth of $10,000 Investment Quarter Year Since to Date to Date 1 Year 3 Year 5 Year 10 Year Incep. 16 PIMCO:Comm+ Strat;Inst -5.32 -7.75 -2.29 -18.35 -8.31 -- -3.54 14 Broad Based Index: S&P 500 Daily Reinv IX 3.09 9.34 17.90 9.61 14.63 7.18 -- 12 Best Fit Index: S&P GSCI Energy TR IX -10.17 -18.79 -14.15 -33.29 -18.24 -13.23 -- 10 Peer Group Average: Lipper Commodities General Average -4.25 -6.38 -7.04 -15.02 -9.15 -7.35 -- 8 6 4 2 Calendar Year Performance 12/31/2016 10 11 12 13 14 15 16 17
2012 2013 2014 2015 2016 PIMCO:Comm+ Strat;Inst S&P GSCI Energy TR IX PIMCO:Comm+ Strat;Inst 5.18 -1.43 -24.83 -28.24 19.25 $7,747 $3,947 Broad Based Index: S&P 500 Daily Reinv IX 16.00 32.39 13.69 1.38 11.96 Best Fit Index: S&P GSCI Energy TR IX -1.37 5.14 -44.06 -41.54 18.06 Top Holdings as of 03/31/17
Holding Name Percent of Assets PIMCO SHORT-TERM FLOATING NAV PORTFOLIO III 26.42 06/30/2017 FED HOME LOAN BK 0.000% 03-APR-2017 4.93 Risk Analysis (3 Year) US TREASURY 0.000% 27-APR-2017 4.01
These statistics are measured against the Fund's broad based index: S&P 500 Daily Reinv IX BRAZIL 0.000% 01-JAN-2018 3.04 US TREASURY 2.500% 15-JAN-2029 2.67 Alpha: -1.72 Beta: 0.65 Standard Deviation: 19.15 Sharpe Ratio: -0.69 BRAZIL 0.000% 01-OCT-2017 2.30 FEDERAL NATIONAL MORTGAGE ASSOCIATION TBA 1.91 Alpha measures Beta measuresa a portfolio's Standard deviation is Aa measure that uses manager's contribution to sensitivity to marketmeasure of risk that gauges standard deviation andUS TREASURY 0.125% 15-APR-2018 1.60 performance due movementsto in the broad the variability of actualexcess return to determine US TREASURY 0.375% 15-JAN-2027 1.40 security selection or market based index. returns from their expected reward per unit of risk. GENERAL FINAN 3.000% 25-SEP-2017 1.31 timing relative to the broad values and the dispersion of Percent of Assets in Top Holdings 49.59 based index. these variations over time. Asset Allocation as of 03/31/17
Best 3 Month Period Worst 3 Month Period Fixed Income 54.00 Performance Date Performance Date Other 23.91 PIMCO:Comm+ Strat;Inst 19.52 05/31/2016 -22.50 01/31/2015 Cash 22.09
Broad Based Index: S&P 500 Daily Reinv IX 9.12 05/31/2016 -6.59 02/29/2016 Best Fit Index: S&P GSCI Energy TR IX 30.39 05/31/2016 -38.90 12/31/2014
Other Key Facts About This Fund
Current NAV 5.64 Number of Equities Held 497 Yield - 30 Days (%) 0.00 Average Price to Earnings 0.42 Top Sectors by Percent1 as of 03/31/15 Yield - 12 Months (%) 5.22 Average Price to Book 0.05 Financials 0.79
Fund fact sheet not valid without Disclaimer Page. Past performance is no guarantee of future results. Consumer Goods 0.15 Investment return and value of shares will fluctuate, so those shares, when redeemed, may be worth more or Technology 0.11 less than their original cost. This report is not authorized for distribution unless accompanied or preceded by Industrials 0.10 a current prospectus of the fund. Call 888-877-4626 for the most recent month-end performance results. The Oil & Gas 0.07 prospectus contains important information of the fund, including its management fees, sales charges, and Telecommunications 0.07 other expenses. Please read the prospectus carefully before you invest or send money. Consumer Services 0.06
Date of first use: 07/20/17 Basic Materials 0.05 Non Classified Equity 0.04 Lipper, a Thomson Reuters Company. Copyright 2017 Thomson Reuters. All rights reserved. Any copying, Utilities 0.03 republication or redistribution of Lipper content is expressly prohibited without the prior written consent of Lipper. Lipper Fund Fact Sheets Service; Product ID: D1v2.4.
1 Sector weightings are based on Industry Classification Benchmark (ICB) Industries.
Oo DISCLAIMER PAGE
Performance The Performance Analysis section shows the Total Return performance including all the reinvestment of all income dividends and capital gains distributions and DOES NOT include the effects of sales charges.
30 Day Yield - Figures shown are calculated using the formula in form N-1A as mandated by the Securities and Exchange Commission.
Performance shown in the Growth of $10,000 chart does not include any applicable sales charges and fees. The chart represents a hypothetical investment at the beginning of the time period shown. Lipper Index performance will not show if there is less than ten years of index or fund history available.
Top Holdings, Asset Allocation, Quality Analysis, and ICB Sector Weightings Data is based on information collected from the investment company, is updated as of the date shown in the section’s title, and will vary over time. Asset Allocation may equal less than or greater than 100% due to hedged funds or leveraged cash positions by the fund.
Expense Information The Gross Expense Ratio is the fund’s total operating expenses taken from the most recent prospectus. This ratio excludes waivers and/or expense reimbursements the Fund Manager might apply. The Net Expense Ratio, also taken from the most recent prospectus, represents the expenses paid with inclusion of waivers and/or expense reimbursements. When waivers and/or expense reimbursements are included, the Fund’s expenses will be lowered and performance will be higher for the disclosed expense waiver period. Waiver and/or expense reimbursements can be voluntary or mandated by contract, and can expire either at a specific date, at will, or indefinitely. Funds Closed to New Investors are not required to file a prospectus, thus the prospectus gross and net expense ratios may not be available.
Indices IX = Index. Investments cannot be made directly in an index. The Fund’s portfolio may differ significantly from the securities held in the index.
Peer Group Averages - The classification averages include all the funds within the Fund’s Lipper classification. Performance figures are calculated using simple arithmetic averages.
Lipper Index - Measures the unweighted average total return performance of either the ten or thirty largest share classes (as available) of funds for a Lipper Classification. The full list of Lipper Index components is available directly from Lipper. Lipper Indices are unmanaged.
Broad-Based Index - A widely recognized index that Lipper has assigned to an asset class.
Best-Fit Index - A variety of market indices are available to benchmark fund performance. The Best-Fit Index is the market index that best correlates to a fund’s performance. Best-Fit indices are not available for funds with less than 3 years of performance history.
S&P 500 Monthly Reinvestment Index - A total return version of the S&P 500 Index with dividends reinvested at month-end. The S&P 500 is an unmanaged capitalization weighted index of 500 stocks designed to measure performance of the broad domestic economy through changes in the aggregate market value of 500 stocks representing all major industries. Investments cannot be made directly in an index. The Fund’s portfolio may differ significantly from the securities held in the index. Standard & Poor’s, S&P, and S&P 500 are trademarks of Standard & Poor’s Ratings Services.
Barclays Capital Aggregate Bond Total Return Index - A market value-weighted index that tracks the daily price, coupon, pay-downs, and total return performance of fixed-rate, publicly placed, dollar-denominated, and non-convertible investment grade debt issue with at least $100 million par amount outstanding and with at least one year to final maturity. Total return includes dividends reinvested into the index. Investments cannot be made directly in an index. The Fund’s portfolio may differ significantly from the securities held in the index.
Copyright MSCI 2015. All Rights Reserved. Unpublished. PROPRIETARY TO MSCI Without prior written permission of MSCI, this information and any other MSCI intellectual property may only be used for your internal use, may not be reproduced or redisseminated in any form and may not be used to create any financial instruments or products or any indices. This information is provided on an “as is” basis, and the user of this information assumes the entire risk of any use made of this information. Neither MSCI nor any third party involved in or related to the computing or compiling of the data makes any express or implied warranties, representations or guarantees concerning the MSCI index-related data, and in no event will MSCI or any third party have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) relating to any use of this information.
The Merrill Lynch Marks and Indices are used with permission. Copyright 2015, Merrill Lynch, Pierce, Fenner & Smith Incorporated. All rights reserved. The Merrill Lynch Marks and Indices may not be copied, used, or distributed without Merrill Lynch’s prior written approval.
Lipper, A Thomson Reuters Company. Copyright 2016 Thomson Reuters. All rights reserved. Any copying, republication or redistribution of Lipper content is expressly prohibited, without the prior written consent of Lipper. Lipper Fund Fact Sheet Service; Product ID: D1v2.4. o
PLASTIC INGENUITY, INC. PROFIT SHARING AND SAVINGS PLAN
Plan Number 001
SUMMARY PLAN DESCRIPTION
This Summary Plan Description (SPD) describes the Plan in general and omits many details. If a provision of this SPD conflicts with a provision of the Plan, the Plan provision will control. A copy of the Plan document is available at the Employer’s office for your inspection.
October, 2014 PLASTIC INGENUITY, INC. PROFIT SHARING AND SAVINGS PLAN
SUMMARY PLAN DESCRIPTION
TABLE OF CONTENTS
I. GENERAL INFORMATION...... 1 1. Kind of Plan ...... 1 2. Employer ...... 1 3. Administrator ...... 1 4. Trustee...... 1 5. Plan Year ...... 1 6. History of Plan ...... 1 7. Summary Plan Description ...... 1 II. PARTICIPATION IN THE PLAN ...... 2 III. PLAN ACCOUNTS, CONTRIBUTIONS. AND INVESTMENTS ...... 2 1. Your Plan Account ...... 2 2. Salary Deferrals ...... 2 3. Employer Profit-Sharing Contributions ...... 3 4. Rollover Contributions...... 3 5. Investments ...... 3 6. Limit on Annual Additions to Your Accounts ...... 4 IV. BENEFITS UNDER THE PLAN ...... 4 1. Distribution of Account ...... 4 2. Vesting in Your Plan ...... 4 3. Pretermination Distributions ...... 5 4. In-Service Distributions ...... 5 5. Beneficiary ...... 5 6. Tax Treatment of Distributions ...... 5 7. Loans ...... 6 8. Nontransferability of Account ...... 6 V. SERVICE RULES ...... 6 1. Year of Service ...... 6 2. Hour of Service ...... 6 3. Uniformed Services Employment and Reemployment Rights Act ...... 7 VI. CLAIMS BY PARTICIPANTS AND BENEFICIARIES ...... 7 1. Initial Determinations ...... 7 2. Appeals ...... 7 VII. STATEMENT OF ERISA RIGHTS ...... 7 VIII. AMENDMENT AND TERMINATION OF THE PLAN ...... 9
PLASTIC INGENUITY, INC. PROFIT SHARING AND SAVINGS PLAN
SUMMARY PLAN DESCRIPTION
I. GENERAL INFORMATION
1. Kind of Plan
The Plastic Ingenuity, Inc. Profit Sharing and Savings Plan (the Plan) is a tax-qualified profit-sharing plan with a Section 401(k) salary deferral feature.
2. Employer
The Plan is maintained by Plastic Ingenuity, Inc. (the Employer) (EIN 39-1216424) for the benefit of its eligible employees. The Employer’s address is 1017 Park Street, Cross Plains, Wisconsin 53528. Its telephone number is 608-798-3071.
3. Administrator
The Administrator of the Plan is the Plan Committee, as designated from time to time by the Employer’s President. The Administrator’s address and telephone number are the same as the Employer’s.
4. Trustee
The assets of the Plan are held in trust by two different Trustees. With respect to some of the Plan assets derived from employer discretionary profit-sharing contributions and all of the Plan assets derived from (a) employee salary deferrals, (b) employer 3% safe-harbor profit- sharing contributions, and (c) rollover contributions, the Trustee is Wilmington Trust Retirement and Institutional Services Company, 2800 N. Central Avenue, Phoenix, Arizona 85004.
With respect to all other Plan assets (some of the Plan assets derived from employer discretionary contributions), the Trustee is the committee consisting of Tom Kuehn, Dan Kuehn, and Jodi Wells, at the same address as the Employer.
5. Plan Year
The Plan records are kept on the basis of a year ending December 31 (Plan Year).
6. History of Plan
The Plan was originally established effective March 11, 1977.
7. Summary Plan Description
This Summary Plan Description (SPD) is a brief description of the Plan and your rights, obligations, and benefits as a Participant under the Plan. If this SPD is inconsistent with the Plan itself, the Plan (and not this SPD) shall apply.
1 II. PARTICIPATION IN THE PLAN
Different rules apply for when you (a) become eligible to participate in the Plan for salary deferral purposes and (b) become a participant in the Plan for purposes of sharing in employer profit-sharing contributions.
1. Participation for Salary Deferral Purposes
For salary deferral purposes, you are eligible to participate in the Plan as of the first day of the first quarterly salary-deferral election date (January 1, April 1, July 1, or October 1) that begins after you have been employed for 3 months.
2. Participation for Profit-Sharing Purposes
For employer profit-sharing contribution purposes, you become a participant in the Plan as of the first day of the first Plan Year during which you are credited with a Year of Eligibility-Service. Article V in this SPD entitled “SERVICE RULES” contains a definition of “Year of Eligibility-Service.”
3. Excluded Employees
Leased employees, part-time and limited-term employees are not eligible to participate in the Plan, unless they first work a Year of Eligibility Service.
III. PLAN ACCOUNTS, CONTRIBUTIONS. AND INVESTMENTS
1. Your Plan Account
If you are a Participant, a Plan account is maintained for you. Your account is increased by contributions allocated to your account and by earnings allocated to your account. Your account is decreased by distributions made from your account and by losses or expenses allocated to your account.
Contributions to your account are generally described as a percentage of your gross compensation. “Gross compensation” means your compensation before reduction by your salary deferrals to this Plan and your salary-reduction contributions, if any, to a Section 125 cafeteria plan.
2. Salary Deferrals
If you are eligible to participate in the Plan for salary-deferral purposes, you may elect to have the Employer withhold a portion (1% or more) of your gross compensation and contribute it to your Plan account. You may designate all or any portion of your salary deferrals to be Roth contributions (after-tax contributions).
If you first become a Participant on or after January 1, 2015, you will be subject to the Plan’s automatic enrollment feature as of the date you are eligible to make salary deferrals to the Plan. Under the automatic enrollment feature, salary deferrals of three percent (3%) will be deducted from your pay and contributed to the Plan. You can affirmatively choose, however, to
2 make a lesser salary deferral contribution (including no contribution) by completing the appropriate election form and submitting it to the Employer.
You may change the amount of your salary deferrals from time to time in accordance with rules set forth by the Plan Committee.
Your salary deferrals are limited each year to a dollar amount determined by the Internal Revenue Service under Internal Revenue Code section 402(g). In 2014, the limit is $17,500, unless you have attained age 50, in which case the limit is $23,000.
3. Employer Profit-Sharing Contributions
If you are a Plan participant for employer profit-sharing purposes, the Employer will make an annual profit-sharing contribution to your Plan account in an amount equal to at least 3% of your gross compensation, regardless of whether you elect any salary deferrals. As a result of this 3% contribution, the Plan is a safe-harbor 401(k) plan that automatically satisfies certain 401(k) nondiscrimination rules. You are always 100% vested in the portion of your account attributable to the 3% safe-harbor contribution.
The Employer may also make a discretionary profit-sharing contribution in excess of the 3% safe-harbor contribution. This contribution is allocated so that each participant entitled to share in the contribution for a year receives an allocation based on the same percentage of gross compensation for the year. To be eligible to receive a share of this type of contribution, unless you terminated employment during the Plan Year due to death, disability, or attainment of retirement age, you must be employed on the last day of the Plan Year (December 31) and you must be credited with a Year of Benefit-Service, which is defined in Article V of this SPD.
Disability is defined as a physical or mental condition which, in the judgment of the Plan Committee, based on medical records and other evidence satisfactory to the Plan Committee, may be expected to result in death or be of long and indefinite duration and which renders you incapable of performing any substantial gainful activity for the Employer. Retirement age is defined as age 65.
4. Rollover Contributions
The Plan accepts rollover contributions from other qualified retirement plans qualified under Section 401(a) of the Internal Revenue Code. The Plan does not accept rollovers from Section 403(b) tax-sheltered annuities, Section 457(b) deferred-compensation plans, or accounts or other money attributable to after tax contributions, with the exception of Roth accounts. A rollover into this Plan is accepted only if (1) the rollover is permitted by the retirement plan from which the funds are to be rolled over and (2) the Plan Committee is reasonably satisfied that the rollover will not jeopardize the tax-qualified status of this Plan.
5. Investments
You may direct the investment of a portion of your Plan account among the investment options offered by the Plan. The portion you may direct is the portion attributable to your salary deferrals, the employer 3% safe-harbor contributions, and your rollover contributions. The portion you may not direct is the portion attributable to employer discretionary contributions
3 (any employer contributions in excess of the 3% safe-harbor contributions). The Plan Committee may establish rules for the investment of your account. With respect to the Plan assets whose investment can be directed by you, the plan is intended to be a plan described in ERISA section 404(c), so that the Plan fiduciaries may be relieved of liability for any losses which are the direct and necessary result of investment instructions given by you.
6. Limit on Annual Additions to Your Accounts
Internal Revenue Code section 415 limits the amounts that may be allocated to your account for any Plan Year. The Plan Committee will inform you if the limit affects you.
IV. BENEFITS UNDER THE PLAN
1. Distribution of Account
Except as explained below in Section 3 (Pretermination Distributions), Section 4 (In- Service Distributions) and Section 7 (Loans), you are not entitled to receive any distribution from your Plan account until after your employment terminates.
After your employment terminates, you will be entitled to receive a distribution from your Plan account. Distribution of your account will be in cash in the form of a single lump sum. You have the option of having the distribution rolled over directly to an eligible retirement plan, such as an individual retirement account (IRA).
To obtain a distribution, a distribution-request form must be submitted to the Administrator. Exceptions: (1) if your account balance is $1,000 or less, the Plan will automatically distribute your account balance (including rollover contributions) and (2) the Plan will comply with required-minimum-distribution rules that generally apply after you attain age 70½.
With respect to the portion of your Plan account attributable to your salary deferrals, employer 3% safe-harbor contributions, and your rollover contributions, you will be able to obtain a distribution as soon as administratively feasible after termination of your employment. With respect to the portion of your Plan account attributable to employer discretionary contributions (not 3% safe-harbor contributions), you will be able to obtain a distribution only after the year-end valuation of that portion of the Plan for the Plan Year in which you first have a One-Year Break-in-Service (a Plan Year in which you have 500 or fewer hours of service).
2. Vesting in Your Plan
Your “vested percentage” in your account is determined under the following schedule and is based on vesting Years of Vesting-Service which is defined in Article V of this SPD. The “vested percentage” is applied only to the portion of your Plan account attributable to discretionary Employer contributions in excess of the 3% safe-harbor contributions. You are always 100% vested in your salary deferrals, employer 3% safe-harbor contributions, and your rollover contributions. You will also be 100% vested in your entire account if you work until you attain normal retirement age (age 65), or until you become disabled as defined for Plan purposes, or until you die.
4
Years of Vesting Service Vested %
less than 2 0% 2 but less than 3 20% 3 but less than 4 40% 4 but less than 5 60% 5 or more but less than 6 80% 6 or more 100%
3. Pretermination Distributions
Prior to termination of employment, you may elect to receive a “pretermination distribution” of at least $1,000 but no more than 50% of your Plan account which is attributable to employer discretionary contributions in excess of the 3% safe-harbor contributions and which is vested. Such a distribution may not include amounts attributable to those employer contributions made for the two Plan Years prior to the date of your distribution request. You must also demonstrate that you need the distributions to pay for (a) college expenses or extraordinary medical expenses for you or a member of your immediate family or (b) purchase of a principal residence for you. This type of distribution is normally allowed only once every five years. Note that the Internal Revenue Code generally prohibits distribution of amounts attributable to employee salary deferrals before termination from employment.
4. In-Service Distributions
If you are at least 65 years old, even though still employed, you may request a distribution of up to the entire vested portion of your Plan account.
5. Beneficiary
If you are married at the time of your death, your spouse will be the beneficiary of your account, unless you choose another beneficiary on a form acceptable to the Administrator. Your choice of a non-spouse beneficiary will be invalid unless your spouse irrevocably consents in writing and the consent is witnessed by a Plan representative or notary public. Because your spouse has beneficiary rights, you should immediately notify the Administrator of any change in your marital status.
6. Tax Treatment of Distributions
Distributions from the Plan will normally be subject to income taxes, unless rolled over as described below. Distributions before age 59½ are also generally subject to a 10% penalty tax, except in certain circumstances. Your spouse or non-spouse beneficiary may also generally roll over Plan distributions. See your tax advisor regarding the tax treatment of distributions.
Most distributions may, at your request, be directly rolled over tax-free to an individual retirement account (IRA) or another qualified employer plan willing to accept the transfer. Even if not directly rolled over, a distribution received by you generally may be rolled over tax-free to an IRA or another qualified employer plan if rolled over within 60 days after you receive the distribution. Under certain circumstances, however, all or a portion of a distribution may not be eligible to be rolled over. Note that any distribution that is eligible to be rolled over, and that is 5 not directly rolled over, will be subject to mandatory federal income tax withholding at a rate of 20%. The withholding will reduce the amount you actually receive. For this reason, to the extent you wish to roll over a distribution, the direct rollover option is generally best.
7. Loans
You are eligible, upon application to and approval by the Administrator, for a loan of at least $1,000 from your account (but not after termination from employment). The loan amount, when added to the outstanding balance of all other loans from the Plan to you, may not exceed, in general, the lesser of $50,000 or 50% of the vested balances of your accounts. All loans are due and payable in not-less-frequently-than-quarterly payments over a 5 year period or less. Loans must bear a reasonable rate of interest and be adequately secured. The Administrator may adopt a loan policy that sets forth application and other administrative procedures required to obtain a loan from the Plan. Currently, you are allowed only two Plan loans outstanding at any time. Also, after you pay off one loan, you must wait at least 90 days before you can receive a new loan.
8. Nontransferability of Account
As a general rule, your interest in the Plan may not be sold, used as loan collateral, given away, or otherwise transferred. In addition, your creditors may not attach, garnish, or otherwise interfere with your account. Nevertheless, the Administrator must honor a “qualified domestic relations order,” which is a court order that assigns all or part of your Plan account to your spouse, former spouse, child, or other dependent.
V. SERVICE RULES
1. Year of Service
You will have completed a “Year of Eligibility-Service” if, at the end of your first twelve consecutive months of employment with your Employer, you have been credited with 1,000 Hours of Service. If you do not work at least 1,000 hours during that 12-month period, you will have completed a “Year of Eligibility-Service” at the end of a Plan Year, if you have been credited with 1,000 Hours of Service during that year.
You will have completed a “Year of Benefit-Service” during a Plan Year if you are credited with 1,000 Hours of Service during the Plan Year, even if you were not employed on the first or last day of the Plan Year.
You will be credited with a “Year of Vesting-Service” during a Plan Year if you are credited with 1,000 Hours of Service during the Plan Year, even if you were not employed on the first or last day of the Plan Year.
2. Hour of Service
You will be credited with an Hour of Service for:
(a) each hour for which you are directly or indirectly compensated by your
6 Employer for the performance of duties during the Plan Year;
(b) each hour for which you are directly or indirectly compensated by your Employer for reasons other than performance of duties (such as vacation, holidays, sickness, disability, lay-off, military duty, jury duty or leave of absence during the Plan Year); and
(c) each hour for back pay awarded or agreed to by your Employer.
You will not be credited for the same Hours of Service both under (a) or (b), as the case may be, and under (c).
3. Uniformed Services Employment and Reemployment Rights Act
If you are a veteran and are reemployed under the Uniformed Services Employment and Reemployment Rights Act of 1994, your qualified military service may be considered service with the Employer. If you may be affected by this law, ask your Administrator for further details.
VI. CLAIMS BY PARTICIPANTS AND BENEFICIARIES
1. Initial Determinations
The Administrator makes all initial determinations regarding rights to benefits and the amounts of benefits. Anyone who claims a benefit and is denied shall, within 90 days of the denial (45 days in the case of disability determinations), be provided a written notice that sets forth specific reasons for the denial, the relevant Plan provisions, and the steps to be taken to appeal the denial. The 90 (or 45) days will be extended to 180 days if the Administrator needs the extension to process the claim.
2. Appeals
Anyone who claims benefits and is denied may, within 60 days after receipt of the denial (180 days in the case of disability determinations), appeal the denial. The appellant may submit comments, documents, and other written material that is relevant to the appeal. Within 60 days after receiving the appeal (45 days in the case of disability determinations), the Administrator will decide the appeal. The 60 (or 45) days will be extended to 120 days (90 days in the case of disability determinations) if the Administrator needs the extension to process the appeal.
VII. STATEMENT OF ERISA RIGHTS
As a Participant, you are entitled to certain rights and protections under the Employee Retirement Income Security Act of 1974 (ERISA), which provides that you are entitled to:
(a) Examine (without charge) at the Employer’s office all Plan documents governing the plan and a copy of the latest annual report (Form 5500) filed by the Plan with the U.S. Department of Labor and available at the Public Disclosure Room of the Employee Benefits Security Administration.
7 (b) Obtain, upon written request to the Administrator (which may impose a reasonable charge) copies of documents governing the operation of the Plan, including a copy of the latest annual report (Form 5500) and updated Summary Plan Description;
(c) Receive a summary of the Plan’s annual financial report;
(d) Obtain (at no charge) a statement indicating your account balance.
In addition to creating rights for Participants, ERISA imposes duties upon the “fiduciaries,” the persons who are responsible for the operation of the Plan. The fiduciaries have a duty to act prudently and in the interest of you and other Participants and beneficiaries. No one, including your Employer or any other person, may fire you or otherwise discriminate against you in any way to prevent you from obtaining a retirement benefit or exercising your rights under ERISA.
Your benefits are not insured by the Pension Benefit Guarantee Corporation (PBGC), which provides a degree of insurance to defined benefit (traditional pension) plans should they become underfunded. However, the PBGC does not cover defined contribution plans like this Plan.
If your claim for a retirement benefit is denied or ignored, in whole or in part, you have a right to know why this was done, to obtain (without charge) copies of documents relating to the decision, and (within the time schedules set forth above) to appeal any denial.
Under ERISA, there are steps you can take to enforce the above rights. For instance, if you request materials from the Plan and do not receive them within 30 days, you may file suit in a federal court. In such a case, the court may require the Administrator to provide the materials and pay you up to $110 per day until you receive the materials, unless they were not sent because of reasons beyond the control of the Administrator.
If you have a benefits claim which is denied or ignored, in whole or in part, you may file suit in a state or federal court. The Administrator will accept service of legal process (legal documents) regarding the Plan. In addition, if you disagree with the Plan’s decision concerning the qualified status of a domestic relations order, you may file suit in federal court.
If the Plan’s fiduciaries misuse the Plan’s money, or if you are discriminated against for asserting your rights, you may seek assistance from the U.S. Department of Labor, or you may file suit in a federal court. The court will decide who should pay court costs and legal fees. If you are successful, the court may order the person you sued to pay these costs and fees. If you lose, the court may order you to pay these costs and fees if, for example, it finds your claim is frivolous.
If you have any questions about the Plan, you should contact the Administrator. If you have any questions about this statement, or about your rights under ERISA, or if you need assistance in obtaining documents from the Administrator, you should contact the nearest office of the Employee Benefits Security Administration, U.S. Department of Labor, listed in your telephone directory, or the Division of Technical Assistance and Inquiries, Employee Benefits Security Administration, U.S. Department of Labor, 200 Constitution Ave., N.W., Washington, D.C. 20210. You may also obtain certain publications about your rights and responsibilities
8 under ERISA by calling the publications hotline of the Employee Benefits Security Administration.
VIII. AMENDMENT AND TERMINATION OF THE PLAN
The Employer has the right to amend or terminate the Plan at any time. In no event, however, will any amendment (a) authorize or permit any part of the Plan assets to be used for purposes other than the exclusive benefit of Participants or their beneficiaries; or (b) cause any reduction in the amount credited to Participant accounts.
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