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n n n n Light up your retirement.The Local No. 8 IBEW Retirement Plan & Trust may be the best way to work toward your personal retirement goals. But saving for retirement can be both challenging and complicated, depending on your financial situation. This guide can help make complicated choices about retirement and saving for it, simple. Take control of your retirement now by turning your dreams into plans.
2
The Local No. 8 IBEW Retirement Plan & Trust offers tax advantages, a variety of investment choices, and other features to make saving for retirement simple.
• Flexible investment choices allow you to choose where to invest your contributions.•Automatic rebalancing helps to keep your portfolio in line with your investment goals
through periodic rebalancing. Periodic rebalancing of your account helps ensure your investments stay aligned over time with the selected strategy you originally selected. For your convenience, you can initiate or discontinue this service at any time. Auto rebalancing is not recommended when using an asset allocation investment option.
• Your vested account balance is always yours to take with you should you change employers. You may also have access to your account savings before you reach retirement age.
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Achieving a successful retirement.
The main goal of the plan is to help you build toward a comfortable income during retirement. This guide provides important information on how to use features of the plan and make them work best for you. Be sure to read it carefully, and feel free to contact us if you have any questions.
1 Online: www.massmutual.com/ibew8
2 Phone:
1-800-743-5274 Dedicated customer service representatives available Monday - Friday, 8 a.m. to 8 p.m. ET or automated phone line 24/7.
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Automatic contributions.Automatic contributions may help you reach your retirement savings goals faster. Every time you begin work with a new employer, you will automatically be enrolled for a 3% contribution amount (or the contribution amount you elect) unless you opt out. You are permitted to opt out at any given time. If you want to reduce your contribution amount to zero, contact your employer for a Job Referral Slip. If you want to adjust your contribution amount in another way, you may do so at the time of a new referral or during the open enrollment period. Deferral elections are made through the Job Referral Slip. If you do not want to contribute to the Plan, you must elect 0% on your Job Referral Slip. The elections you make do not carry over from employer to employer. You will need to complete a new Job Referral Slip when changing employers.
401(k) contributions.Upon enrollment, your assets will be invested into the appropriate T. Rowe Price Retirement Target Date Fund based on your date of birth, as provided by the Fund Office. Regardless of your age, you have the ability to invest your 401(k) balance and future contributions to any of the investment options in the plan.
Employer contributions.If you are under age 50, your employer funded balance and future contributions will be invested in the I.B.E.W. 8 Main Fund. The Trustees of the Plan maintain the investment guidelines on the employer balance within the Local No. 8 I.B.E.W. Retirement Plan and Trust.
If you are over age 50 or upon attaining age 50, you will be permitted to invest your employer-funded balance to any of the funds in the plan’s fund line up.
Choosing investments that are right for you.Following the simple steps outlined in this guide may help you become more confident with your investment decisions. You can access your account to change your investment options and take advantage of all of our online tools at www.massmutual.com/ibew8. Create your Username, Password and PIN. You will use the PIN on our voice response system.
Generally target retirement date (lifecycle) investment options are designed to be held beyond the presumed retirement date to offer a continuing investment option for the investor in retirement. The year in the investment option name refers to the approximate year an investor in the option would plan to retire and likely would stop making new contributions to the investment option. However, investors may choose a date other than their presumed retirement date to be more conservative or aggressive depending on their own risk tolerance.
Target retirement date (lifecycle) investment options are designed for participants who plan to
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withdraw the value of their accounts gradually after retirement. Each of these options follows its own asset allocation path (“glide path”) to progressively reduce its equity exposure and become more conservative over time. Options may not reach their most conservative allocation until after their target date. Others may reach their most conservative allocation in their target date year. Investors should consider their own personal risk tolerance, circumstances and financial situation. These options should not be selected solely on a single factor such as age or retirement date. Please consult the prospectus (if applicable) pertaining to the options to determine if their glide path is consistent with your long-term financial plan. Target retirement date investment options’ stated asset allocation may be subject to change.
Investments in these options are not guaranteed and you may experience losses, including losses near, at, or after the target date. Additionally, there is no guarantee that the options will provide adequate income at and through retirement.
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Understanding asset allocation.
Determining your asset allocation is an important first step in choosing investment options in your workplace retirement plan. Asset allocation is how you divide your savings among different investment types such as stocks, bonds, and short-term investments. Here we highlight four basic steps in developing your asset allocation strategy.
Step 1 – Understand the asset classes. Consider that your choices generally focus on three things: stocks, bonds and short-term investments. These three types of investments are known as the basic “asset classes”:
• Stocks, also called equities, are shares of ownership in a company.
• Bonds, also called fixed income investments, are loans made to governments or corporations.
• Short-term investments, also known as cash equivalents, are designed to maintain their dollar value. Examples include money market funds, certificates of deposit and Treasury bills.
Although the investment menu in your workplace plan may have many options, most will fall into these basic groups, or a combination of them. Please note that asset allocation doesn’t ensure a profit or protect against loss in a declining market, but it may be a sound strategy.
Why it’s important.Each asset class has different characteristics you should be aware of. Historically speaking, stocks have posed greater investment risk than the other asset classes, but have offered the potential for the highest return. Short-term
investments have offered lower returns in exchange for low investment risk. Bonds have tended to fall somewhere in the middle.
Step 2 – Know your tolerance for risk. How much risk you are comfortable with is an important consideration in choosing your asset allocation strategy. How do you feel about investment risk – the chance that your investments could lose money? You also need to think about inflation risk – the risk that conservative investments such as short-term investments may not keep pace with inflation.
Investing in more than one asset class – or a blend of them – may help to balance your risk. Mixing the various investment types can provide a balance of growth with preservation, because the markets for each investment don’t always move in the same direction as each other.1
Step 3 – Establish your time horizon. Your tolerance for risk must be considered in the context of your time horizon. Do you have quite a bit of time until you retire or are you getting closer? In the short term, the most volatile investments, such as stocks, can rise and fall dramatically. Past performance is not indicative of future performance.
If you need your money within the next few years, you might want to avoid putting a large percentage into a single asset class that could dip in value in the short term. On the other hand, assuming you have six years or more before you will need your money, you may consider investing a percentage of your savings in investments that offer greater potential for return. That’s because you have
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more time to potentially ride out short-term fluctuations in the value of your investments.
Step 4 – Determine your asset allocation strategy. The participant website offers tools and resources to help. To determine which strategy may be right for you, check out the Risk Quiz. Log into your account » My Account » Investment Selection » Risk Quiz.
Revisit your strategy once a year and after major life events to ensure it is still in line with your current needs and outlook. You may want to consider adjusting the proportions of stocks, bonds and short-term investments as you get closer to retirement. Remember, everyone’s situation will differ, and you should consult a financial advisor about your own particular situation.
Learn more.The right asset allocation strategy can help you maintain your confidence through market ups and downs. You can learn more about asset allocation at www.massmutual.com/ibew8. If you have questions, call 1-800-743-5274.
1 http://www.sec.gov/investor/pubs/assetallocation.htmPast performance is no guarantee of future results. The information contained herein is not intended or written as specific legal or tax advice and may not be relied on for purposes of avoiding any federal tax penalties. Neither MassMutual nor any of its employees or representatives are authorized to give legal or tax advice. You must rely on the advice of your own independent tax counsel.
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Your plan's investment options.
The portfolios below are built out of the investment options available in your plan*:
INVESTMENT PORTFOLIOS
ASSET CATEGORY INVESTMENT NAME Short Term Conservative Moderate Aggressive
Ultra Aggres-sive
Stable Value IBEW 8 Stable Value Fund 85% 60% 37% 15%
Short Term BondIBEW 8 BR Strategic In-come Opp 15% 10% 3% 1%
Multi Sector BondIBEW 8 Loomis Sayles Strategic
Asset Allocation/Lifestyle
IBEW 8 T. Rowe Price Bal-anced
Asset Allocation/Lifestyle IBEW 8 Main FundAsset Allocation/Lifestyle IBEW 8 Conservative FundAsset Allocation/Lifecycle
IBEW 8 T. Rowe Price Ret 2015
Asset Allocation/Lifecycle
IBEW 8 T. Rowe Price Ret 2020
Asset Allocation/Lifecycle
IBEW 8 T. Rowe Price Ret 2025
Asset Allocation/Lifecycle
IBEW 8 T. Rowe Price Ret 2030
Asset Allocation/Lifecycle
IBEW 8 T. Rowe Price Ret 2035
Asset Allocation/Lifecycle
IBEW 8 T. Rowe Price Ret 2040
Asset Allocation/Lifecycle
IBEW 8 T. Rowe Price Ret 2045
Asset Allocation/Lifecycle
IBEW 8 T. Rowe Price Ret 2050
Asset Allocation/Lifecycle
IBEW 8 T. Rowe Price Ret 2055
Large Cap Value IBEW 8 MFS Value 5% 11% 15% 16%
Large Cap CoreIBEW 8 IBEW-NECA Equity Index 10% 18% 26% 34%
Large Cap GrowthIBEW 8 AF Growth Fd of America 5% 12% 15% 17%
Small Cap ValueIBEW 8 AllianzGI NFJ Sm Cap Va 2% 4% 5% 6%
Small Cap Growth IBEW 8 Janus Triton 3% 4% 6% 7%Intl/Global Large Value IBEW 8 Harbor International 5% 11% 17% 20%
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*Investment allocation strategies are a convenient way of allocating your account among certain of the plan’s individual investment options. Any investment allocation strategies included in these materials are not intended to be investment advice or recommendations to you and may or may not be appropriate for your circumstances. In applying investment allocation strategies to your individual circumstances, you should consider your other assets, income and investments as well as your risk tolerance. If you direct your contributions or current account balance to an investment allocation strategy, your contributions or account balance will be invested in each of the individual investment alternatives in the percentages indicated for the strategy. The plan may offer other investment options not included in the strategies and the individual investment alternatives included in the strategies may also be available on a stand-alone basis. The CustomChoice Strategies chart lists asset classes, along with their weightings in the allocation strategy.
RISK DISCLOSURES FOR CERTAIN ASSET CATEGORIES – PLEASE NOTE THAT YOUR PLAN MAY NOT OFFER ALL OF THE INVESTMENT TYPES DISCUSSED BELOW.
Please consider an investment option’s objectives, risks, fees and expenses carefully before investing. This and other information about the investment option can be found in the applicable prospectuses or summary prospectuses, if any, or fact sheets for the investment options listed, which are available from your plan sponsor, the participant website at www.retiresmart.com or by contacting our Participant Information Center at 1-800-743-5274 between 8:00 a.m. and 8:00 p.m. ET, Monday through Friday. Please read them carefully before investing.
If a retirement plan fully or partially terminates its investment in the Guaranteed Interest Account (GIA), Super Flex (SF) Guaranteed, Fixed Interest Account or Separate Account Guaranteed Interest Contract (SAGIC) investment options, the plan receives the liquidation value of its investment, which may either be more or less than the book value of its investment. As a result of this adjustment, a participant’s account balance may be either increased or decreased if the plan fully or partially terminates the contract with MassMutual.
Government/Retail Money Market Funds:
You could lose money by investing in the fund. Although the fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. The fund may impose a fee upon the sale of your shares or may temporarily suspend your ability to sell shares if the fund's liquidity falls below required minimums because of market conditions or other factors. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The fund’s sponsor has no legal obligation to provide financial support to the fund, and you should not expect that the sponsor will provide financial support to the fund at any time.
Money Market Floating NAV:
You could lose money by investing in the fund. Because the share price of the fund will fluctuate, when you sell your shares they may be worth more or less than what you originally paid for them. The fund may impose a fee upon the sale of your shares or may temporarily suspend your ability to sell shares if the fund’s liquidity falls below required minimums because of market conditions
10
or other factors. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The fund’s sponsor has no legal obligation to provide financial support to the fund, and you should not expect that the sponsor will provide financial support to the fund at any time.
Risks of investing in bond and debt securities investments include the risk that a bond issuer will default by failing to repay principal and interest in a timely manner (credit risk) and/or the risk that the value of these securities will decline when interest rates increase (interest rate risk).
Risks of investing in inflation-protected bond investments include credit risk and interest rate risk. Neither the bond investment nor its yield is guaranteed by the U.S. Government.
High yield bond investments are generally subject to greater market fluctuations and risk of loss of income and principal than lower yielding debt securities investments.
Investments in value stocks may remain undervalued for extended periods of time, and the market may not recognize the intrinsic value of these securities.
Investments that track a benchmark index are professionally managed investments. However, the benchmark index itself is unmanaged and does not incur fees or expenses and cannot be purchased directly for investment.
Investments in growth stocks may experience price volatility due to their sensitivity to market fluctuations and dependence on future earnings expectations.
Investments in companies with small or mid market capitalization (“small caps” or “mid caps”) may be subject to special risks given their characteristic narrow markets, limited financial resources, and less liquid stocks, all of which may cause price volatility.
International/global investing can involve special risks, such as political changes and currency fluctuations. These risks are heightened in emerging markets. Other trading restrictions may apply. Please see the investment’s prospectus for more details.
A significant percentage of the underlying investments in aggressive asset allocation portfolio options have a higher than average risk exposure. Investors should consider their risk tolerance carefully before choosing such a strategy.
An investment with multiple underlying investments (which may include MassMutual RetireSmart and any other offered proprietary or non-proprietary asset-allocation, lifestyle, lifecycle or custom blended investments) may be subject to the expenses of those underlying investments in addition to those of the investment itself.
Investments may reside in the specialty category due to 1) allowable investment flexibility that precludes classification in standard asset categories and/or 2) investment concentration in a limited group of securities or industry sectors. Investments in this category may be more volatile than less-flexible and/or less-concentrated investments and may be appropriate as only a minor component in an investor's overall portfolio.
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Participants with a large ownership interest in a company or employer stock investment may have the potential to manipulate the value of units of this investment option through their trading practices. As a result, special transfer restrictions may apply. This type of investment option presents a higher degree of risk than diversified investment options under the plan because it invests in the securities of a single company.
Investments that invest more of their assets in a single issuer or industry sector (such as company stock or sector investments) involve additional risks, including unit price fluctuations, because of the increased concentration of investments.
A participant will be prohibited from transferring into most mutual funds and similar investments if they have transferred into and out of the same investment within the previous 60 days. Certain stable value, guaranteed interest, fixed income and other investments are not subject to this rule. This rule does not prohibit participants from transferring out of any investment at any time.
Excessive Trading Policy: MassMutual strongly discourages plan participants from engaging in excessive trading. The MassMutual Excessive Trading Policy helps protect the interests of long-term investors like you. If you would like to view the MassMutual Excessive Trading Policy, please visit MassMutual’s participant website at www.retiresmart.com. In addition, you cannot transfer into any investment options if you have already made a purchase followed by a sale (redemption) involving the same investment within the last sixty days.
Apple® and the Apple logo® are registered trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a registered trademark of Apple Inc.
Android, Google PlayTM and the Google Play logoTM are trademarks of Google Inc.
MassMutual RetireSmartSM is a registered service mark of MassMutual.
Plan
:Loc
al N
o. 8
IBEW
Ret
irem
ent P
lan
& T
rust
Ac
coun
t Num
ber:
6232
7-1-
1Su
bscr
iptio
n:Bo
ard
of T
rust
ees,
IBEW
Loc
alCr
eate
d:06
/09/
2018
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Plea
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·An
inve
stm
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pas
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form
ance
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resu
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mon
stra
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long
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effe
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sit:
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Inve
stm
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n or
der t
o di
rect
you
r Pla
n in
vest
men
ts, y
ou m
ust m
ake
your
ele
ctio
n at
ww
w.re
tires
mar
t.com
or c
onta
ct th
e M
assM
utua
l Par
ticip
ant I
nfor
mat
ion
Cent
erat
1-8
88-6
06-7
343.
If y
ou a
re c
urre
ntly
not
par
ticip
atin
g in
the
Plan
and
hav
e qu
estio
ns c
once
rnin
g pl
an p
rovi
sion
s, in
clud
ing
elig
ibili
ty re
quire
men
ts, c
onta
ct F
und
Offic
e at
(419
)66
6-44
50 o
r P.O
. Box
604
08, R
ossf
ord
OH 4
3460
-.
Lim
itatio
ns o
n In
stru
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ns:
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Stoc
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trade
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an
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vest
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will
be
liste
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the
Com
para
tive
Char
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2
·If
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Plan
offe
rs p
ublic
ly tr
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sign
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ent a
ltern
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etio
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tran
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par
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who
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hold
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stric
tions
impo
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as a
dditi
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repo
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of t
hose
tran
sact
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is re
quire
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Desi
gnat
ed In
vest
men
t Alte
rnat
ives
(DIA
): T
he P
lan
prov
ides
des
igna
ted
inve
stm
ent a
ltern
ativ
es in
to w
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you
can
dire
ct th
e in
vest
men
t of y
our P
lan
fund
s. T
he C
ompa
rativ
eCh
art b
elow
iden
tifie
s th
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desi
gnat
ed in
vest
men
t alte
rnat
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and
pro
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s in
form
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n re
gard
ing
the
alte
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.
Inve
stm
ent M
anag
er:
For i
nfor
mat
ion
rega
rdin
g th
e de
sign
ated
inve
stm
ent m
anag
er fo
r the
Pla
n (if
any
), pl
ease
con
tact
you
r Pla
n Sp
onso
r.
Glos
sary
of T
erm
s: P
leas
e vi
sit h
ttp://
ww
w.m
assm
utua
l.com
/glo
ssar
y fo
r a g
loss
ary
of in
vest
men
t ter
ms
rele
vant
to th
e in
vest
men
t opt
ions
und
er th
is P
lan.
Thi
s gl
ossa
ry is
inte
nded
to h
elp
you
bette
r und
erst
and
your
opt
ions
.
This
sec
tion
incl
udes
impo
rtant
info
rmat
ion
to h
elp
you
com
pare
the
inve
stm
ent a
ltern
ativ
es o
ffere
d un
der y
our P
lan.
If y
ou w
ant a
dditi
onal
info
rmat
ion
abou
t you
r inv
estm
ent
optio
ns, y
ou c
an g
o to
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ific
Inte
rnet
web
site
add
ress
es s
how
n be
low
or y
ou c
an c
onta
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e M
assM
utua
l Par
ticip
ant I
nfor
mat
ion
Cent
er a
t 1-8
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atin
g in
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Plan
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d Of
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19) 6
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450
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0408
, Ros
sfor
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434
60-.
To h
elp
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eve
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t sec
urity
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uld
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ca
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side
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vers
ified
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ent p
ortfo
lio. S
prea
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r ass
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g di
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nt ty
pes
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ts c
an h
elp
you
achi
eve
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etur
n, w
hile
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imizi
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vera
ll ris
k of
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oney
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er e
cono
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ditio
ns th
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parti
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ery
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l ofte
n ca
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f you
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ore
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lass
of i
nves
tmen
t, yo
ur s
avin
gs m
ay n
ot b
e pr
oper
ly d
iver
sifie
d. A
lthou
gh d
iver
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gy to
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p yo
u m
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t ris
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idin
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ount
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sset
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clud
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ou
tsid
e of
the
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. No
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le a
ppro
ach
is ri
ght f
or e
very
one
beca
use,
am
ong
othe
r fac
tors
, ind
ivid
uals
hav
e di
ffere
nt fi
nanc
ial g
oals
, diff
eren
t tim
e ho
rizon
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r mee
ting
thei
r goa
ls,
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tole
ranc
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r ris
k. It
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lso
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rtant
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erio
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view
you
r inv
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ortfo
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nves
tmen
t obj
ectiv
es, a
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e in
vest
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und
er th
e Pl
an to
he
lp e
nsur
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at y
our r
etire
men
t sav
ings
will
mee
t you
r ret
irem
ent g
oals
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ure
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ofit
and
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tect
aga
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eclin
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ket.
Docu
men
t Sum
mar
y
This
sec
tion
focu
ses
on th
e pe
rform
ance
of i
nves
tmen
t alte
rnat
ives
that
hav
e a
fixed
or s
tate
d ra
te o
f ret
urn.
The
cha
rt sh
ows
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al ra
te o
f ret
urn
of e
ach
such
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rnat
ive,
the
term
or l
engt
h of
tim
e th
at y
ou w
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arn
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d ot
her i
nfor
mat
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vant
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ce.
3
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e of
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stm
ent P
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t alte
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lder
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ting
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vest
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xpen
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form
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e of
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stm
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Type
of I
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tIn
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te
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Annu
al T
otal
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rnas
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ben
chm
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sinc
e in
cept
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retu
rn is
cal
cula
ted
from
the
mon
th-e
nd o
f the
inve
stm
ent's
ince
ptio
n.
**Th
e N
et T
otal
Ann
ual O
pera
ting
Expe
nses
incl
ude
any
inve
stm
ent e
xpen
se w
aive
r/rei
mbu
rsem
ent a
rran
gem
ents
doc
umen
ted
in th
e in
vest
men
t's p
rosp
ectu
s an
d m
ay b
e lo
wer
than
the
Gros
s To
tal A
nnua
l Ope
ratin
g Ex
pens
es d
ue to
the
indi
cate
d ex
pens
e w
aive
rs o
r rei
mbu
rsem
ents
, whi
ch m
ay b
e su
bjec
t to
expi
ratio
n. A
dditi
onal
info
rmat
ion
rega
rdin
gin
vest
men
t exp
ense
wai
vers
spe
cific
to e
ach
inve
stm
ent i
s in
clud
ed in
this
doc
umen
t, if
avai
labl
e, in
clud
ing
whe
ther
the
wai
ver i
s co
ntra
ctua
l or v
olun
tary
and
its
date
of
expi
ratio
n. A
ll av
aila
ble
info
rmat
ion
abou
t inv
estm
ent e
xpen
se w
aive
rs is
cur
rent
and
com
plet
e as
of t
he d
ate
of th
is re
port.
If in
form
atio
n re
gard
ing
the
wai
vers
is in
com
plet
e, it
isbe
caus
e ou
r thi
rd-p
arty
dat
a pr
ovid
er w
as u
nabl
e to
mak
e th
e in
form
atio
n av
aila
ble.
For
som
e in
vest
men
ts, t
he N
et T
otal
Ann
ual O
pera
ting
Expe
nse
ratio
figu
re re
flect
s th
esu
btra
ctio
n of
inte
rest
exp
ense
, whi
ch re
sults
from
an
inve
stm
ent's
use
of c
erta
in o
ther
inve
stm
ents
. Thi
s ex
pens
e is
requ
ired
to b
e tre
ated
as
an in
vest
men
t exp
ense
for
acco
untin
g pu
rpos
es, b
ut is
not
pay
able
to th
e in
vest
men
t adv
iser
or s
ubad
vise
r (if
appl
icab
le).
For m
ore
info
rmat
ion,
ple
ase
see
the
inve
stm
ent p
rofil
e or
the
pros
pect
us th
atco
rres
pond
s to
the
inve
stm
ent,
whi
ch a
re b
oth
avai
labl
e fro
m M
assM
utua
l. Co
ntac
t the
Mas
sMut
ual P
artic
ipan
t Inf
orm
atio
n Ce
nter
at 1
-888
-606
-734
3. If
you
are
cur
rent
ly n
otpa
rtici
patin
g in
the
Plan
, con
tact
Fun
d Of
fice
at (4
19) 6
66-4
450
or P
.O. B
ox 6
0408
, Ros
sfor
d OH
434
60-.
Othe
r sha
re c
lass
es o
f an
inve
stm
ent o
r its
und
erly
ing
inve
stm
ent (
depe
ndin
g up
on th
e in
vest
men
t) m
ay h
ave
exis
ted
long
er, w
hich
may
acc
ount
for a
ny p
re-in
cept
ion
perfo
rman
ce s
how
n. If
pre
-ince
ptio
n pe
rform
ance
is s
how
n, it
is g
ener
ally
the
perfo
rman
ce o
f an
olde
r sha
re c
lass
of t
he in
vest
men
t its
elf o
r its
und
erly
ing
inve
stm
ent (
depe
ndin
gup
on th
e in
vest
men
t) ad
just
ed fo
r fee
s an
d ex
pens
es o
f the
new
er s
hare
cla
ss. H
owev
er, i
f usi
ng th
e ex
pens
es o
f the
new
er s
hare
cla
ss ra
ther
than
the
expe
nses
of t
he o
lder
shar
e cl
ass
(due
to lo
wer
exp
ense
s of
the
new
er s
hare
cla
ss) w
ould
resu
lt in
bet
ter p
erfo
rman
ce, t
hen
pre-
ince
ptio
n pe
rform
ance
repr
esen
ts th
at o
f the
old
er s
hare
cla
ss w
ithou
tan
y ex
pens
e ad
just
men
t.
9
The
cum
ulat
ive
effe
ct o
f fee
s an
d ex
pens
es c
an s
ubst
antia
lly re
duce
the
grow
th o
f you
r ret
irem
ent s
avin
gs. V
isit
the
U.S.
Dep
artm
ent o
f Lab
or's
Web
site
for a
n ex
ampl
e sh
owin
gth
e lo
ng-te
rm e
ffect
of f
ees
and
expe
nses
at h
ttps:
//ww
w.d
ol.g
ov/s
ites/
defa
ult/f
iles/
ebsa
/abo
ut-e
bsa/
our-
activ
ities
/reso
urce
-cen
ter/p
ublic
atio
ns/a
-look
-at-4
01k-
plan
-fees
.Fe
es a
nd e
xpen
ses
are
only
one
of m
any
fact
ors
to c
onsi
der w
hen
you
deci
de to
inve
st in
an
alte
rnat
ive.
You
may
als
o w
ant t
o th
ink
abou
t whe
ther
an
inve
stm
ent i
n a
parti
cula
rop
tion,
alo
ng w
ith y
our o
ther
inve
stm
ents
, will
hel
p yo
u ac
hiev
e yo
ur fi
nanc
ial g
oals
.
To o
btai
n ad
ditio
nal i
nfor
mat
ion
abou
t the
Pla
n's
desi
gnat
ed in
vest
men
t alte
rnat
ives
, ple
ase
obta
in th
e In
vest
men
t Pro
files
for t
he s
peci
fic in
vest
men
t alte
rnat
ives
you
are
inte
rest
ed in
usi
ng th
e w
eb s
ite a
ddre
sses
pro
vide
d in
the
Com
para
tive
Char
t or g
o to
ww
w.re
tires
mar
t.com
.
You
have
the
right
to re
ques
t the
follo
win
g in
form
atio
n re
latin
g to
the
Plan
's in
vest
men
t alte
rnat
ives
: cop
ies
of p
rosp
ectu
ses
or a
ny s
hort-
form
or s
umm
ary
pros
pect
us o
r sim
ilar
docu
men
ts, f
inan
cial
sta
tem
ents
or r
epor
ts, a
sta
tem
ent o
f the
val
ue o
f eac
h in
vest
men
t ava
ilabl
e un
der t
he P
lan
as w
ell a
s th
e va
luat
ion
date
, and
a li
st o
f the
ass
ets
that
mak
e up
the
portf
olio
of e
ach
inve
stm
ent u
nder
the
Plan
that
con
stitu
te "p
lan
asse
ts" w
ithin
the
mea
ning
of U
.S. D
epar
tmen
t of L
abor
regu
latio
ns a
nd th
e va
lue
of e
ach
of th
ese
asse
ts. I
nad
ditio
n, y
ou m
ay re
ques
t a fr
ee p
aper
cop
y of
the
info
rmat
ion
avai
labl
e on
the
web
site
(s) l
iste
d on
the
Com
para
tive
Char
ts a
bove
and
the
Glos
sary
of I
nves
tmen
t Ter
ms.
Thi
sin
form
atio
n ca
n be
obt
aine
d by
con
tact
ing
Fund
Offi
ce a
t (41
9) 6
66-4
450
or P
.O. B
ox 6
0408
, Ros
sfor
d OH
434
60- o
r Mas
sMut
ual P
artic
ipan
t Inf
orm
atio
n Ce
nter
, P.O
. Box
219
062,
Kans
as C
ity,
MO
6412
1-90
62, 1
-888
-606
-734
3.
If fe
es/e
xpen
ses
are
incu
rred
for p
lan
adm
inis
tratio
n, s
uch
fees
/exp
ense
s m
ay b
e ch
arge
d to
the
Plan
. As
an in
divi
dual
acc
ount
Pla
n, th
ese
Adm
inis
trativ
e Fe
es m
ay b
e ch
arge
d ag
ains
t you
r acc
ount
bal
ance
to th
e ex
tent
they
are
not
cha
rged
aga
inst
forfe
iture
s or
pai
d by
the
Plan
Spo
nsor
. As
a re
sult,
you
r acc
ount
bal
ance
may
be
redu
ced
for y
our s
hare
of
any
Pla
n Ad
min
istra
tive
fees
cha
rged
aga
inst
you
r acc
ount
. The
se fe
es m
ay b
e ch
arge
d on
a p
ro ra
ta b
asis
(i.e
., ba
sed
on th
e re
lativ
e si
ze o
f eac
h pa
rtici
pant
and
ben
efic
iary
's
acco
unt)
and/
or a
per
cap
ita b
asis
(i.e
., ea
ch p
artic
ipan
t and
ben
efic
iary
is c
harg
ed th
e sa
me
fee)
. If P
lan
Adm
inis
trativ
e fe
es a
re c
harg
ed to
you
r acc
ount
bal
ance
, the
act
ual
dolla
r am
ount
will
be
repo
rted
to y
ou in
the
cale
ndar
qua
rter f
ollo
win
g th
e qu
arte
r in
whi
ch th
e ch
arge
occ
urs.
Ple
ase
refe
r to
your
qua
rterly
acc
ount
sta
tem
ent f
or in
form
atio
n on
an
y fe
es a
ctua
lly c
harg
ed to
you
r acc
ount
.
Plea
se n
ote
that
the
Plan
Adm
inis
trativ
e fe
es w
hich
app
ear b
elow
are
not
refle
cted
in th
e to
tal a
nnua
l ope
ratin
g ex
pens
es o
f any
of t
he P
lan'
s in
vest
men
t opt
ions
. How
ever
, in
addi
tion
to th
e Pl
an A
dmin
istra
tive
fee
amou
nts
liste
d in
this
sec
tion,
som
e of
the
Plan
's A
dmin
istra
tive
fees
may
hav
e be
en p
aid
thro
ugh
reve
nue
shar
ing
arra
ngem
ents
m
aint
aine
d w
ith o
ne o
r mor
e of
the
Plan
's in
vest
men
t opt
ions
in w
hich
you
may
be
inve
sted
.
Pro
Rata
Fee
sPl
an a
dmin
istra
tion
fees
/exp
ense
s th
at m
ay b
e ch
arge
d pr
o ra
ta in
clud
e, b
ut a
re n
ot li
mite
d to
, fee
s/ex
pens
es fo
r leg
al, a
ccou
ntin
g, a
udit,
com
plia
nce,
inte
rmed
iary
/adv
isor
, in
vest
men
t, re
cord
keep
ing,
and
trus
tee
serv
ices
(col
lect
ivel
y "P
lan
Adm
inis
tratio
n Fe
es").
10
Per C
apita
Fee
sPl
an a
dmin
istra
tion
fees
/exp
ense
s th
at m
ay b
e ch
arge
d on
a p
er c
apita
bas
is a
re fe
es/e
xpen
ses
for r
ecor
dkee
ping
ser
vice
s.
If th
e Pl
an's
Spo
nsor
nor
mal
ly p
ays
the
fees
for a
dmin
istra
tive
serv
ices
per
form
ed b
y M
assM
utua
l, an
d th
e pa
ymen
t is
over
due
in a
ccor
danc
e w
ith th
e Pl
an S
pons
or's
Ad
min
istra
tive
Serv
ices
Agr
eem
ent w
ith M
assM
utua
l, th
e Pl
an S
pons
or is
aut
horiz
ing
that
the
outs
tand
ing
expe
nses
will
be
dedu
cted
from
par
ticip
ants
' acc
ount
bal
ance
s on
a p
ro
rata
bas
is to
the
exte
nt a
llow
ed b
y th
e Pl
an's
Adm
inis
trativ
e Se
rvic
es A
gree
men
t. Yo
ur s
hare
of t
he o
verd
ue e
xpen
se w
ill b
e de
term
ined
by
mul
tiply
ing
the
fee
by a
ratio
that
is
equa
l to
the
valu
e of
you
r acc
ount
bal
ance
div
ided
by
the
valu
e of
all
acco
unt b
alan
ces
unde
r the
pla
n.
Cons
ultin
g Se
rvic
es
Certa
in c
onsu
lting
ser
vice
s m
ay b
e pe
rform
ed d
urin
g th
e ne
xt 1
2 m
onth
s if
appl
icab
le to
the
prov
isio
ns in
you
r Pla
n an
d if
requ
este
d by
the
Plan
Spo
nsor
. The
fee
for a
ny o
f the
se
rvic
es th
at a
re p
erfo
rmed
will
onl
y be
pai
d fro
m p
lan
asse
ts if
dire
cted
by
the
Plan
Spo
nsor
. Con
sulti
ng s
ervi
ces
incl
ude
the
follo
win
g.
Empl
oyer
con
tribu
tion
calc
ulat
ion
and
allo
catio
n se
rvic
e is
an
optio
nal s
ervi
ce th
at a
Pla
n Sp
onso
r can
ele
ct to
hav
e M
assM
utua
l per
form
on
thei
r beh
alf.
The
fee
for e
mpl
oyer
co
ntrib
utio
n ca
lcul
atio
n an
d al
loca
tion
serv
ices
is $
500.
An
addi
tiona
l fee
of $
200
per h
our w
ill b
e ch
arge
d if
mor
e th
an th
ree
hour
s ar
e re
quire
d to
com
plet
e th
e se
rvic
e. If
the
Plan
ha
s a
mat
chin
g co
ntrib
utio
n pr
ovis
ion
that
requ
ires
a tru
e-up
cal
cula
tion
to b
e pe
rform
ed a
t the
end
of a
pla
n ye
ar, t
here
is a
$25
0 fe
e if
the
true-
up c
ontri
butio
n ha
s to
be
revi
sed.
If th
e Pl
an S
pons
or re
ques
ts M
assM
utua
l to
perfo
rm re
sear
ch, (
such
as
docu
men
ting
regu
lato
ry c
ompl
ianc
e, e
.g. p
rovi
ding
his
toric
al p
artic
ipan
t tra
nsac
tion
form
s, s
uppo
rting
fin
anci
al re
ports
, pas
t For
ms
5500
filin
gs, p
rior y
ears
non
disc
rimin
atio
n te
sts,
etc
.) a
$75
per h
our f
ee m
ay b
e ch
arge
d.
If a
plan
am
endm
ent i
s re
quire
d fo
r a M
assM
utua
l pla
n do
cum
ent d
ue to
a c
hang
e in
a re
gula
tion,
law
, or t
o co
mpl
y w
ith T
itle
I of E
RISA
, the
re w
ill b
e a
char
ge o
f $10
0. If
the
Volu
me
Subm
itter
pla
n do
cum
ent i
s am
ende
d an
d re
quire
s cu
stom
izatio
n of
pro
visi
ons,
an
addi
tiona
l hou
rly fe
e of
$20
0 w
ill b
e ch
arge
d.
If an
am
endm
ent t
o th
e in
vest
men
t con
tract
is re
quire
d, th
e am
endm
ent p
repa
ratio
n fe
e is
$30
0.
If th
e Pl
an h
as a
par
ticip
ant l
oan
prov
isio
n an
d th
e Lo
an P
olic
y ne
eds
to b
e am
ende
d, th
e lo
an P
olic
y am
endm
ent f
ee is
$10
0.
If th
e Pl
an h
as a
qua
lifie
d de
faul
t inv
estm
ent a
rran
gem
ent,
a sa
fe h
arbo
r pla
n de
sign
, an
auto
mat
ic e
nrol
lmen
t fea
ture
or o
ther
pla
n pr
ovis
ion
for w
hich
a p
artic
ipan
t dis
clos
ure
notic
e m
ust b
e pr
ovid
ed a
nnua
lly, t
he P
lan
Spon
sor m
ay re
ques
t Mas
sMut
ual t
o pr
epar
e th
e ap
plic
able
not
ices
. The
fee
for p
repa
ratio
n of
par
ticip
ant d
iscl
osur
e no
tices
may
be
paid
from
par
ticip
ant a
ccou
nts
if di
rect
ed b
y th
e Pl
an S
pons
or.
The
fees
for m
ailin
g pa
rtici
pant
not
ices
and
dis
clos
ures
may
be
paid
from
par
ticip
ant a
ccou
nts
if di
rect
ed b
y th
e Pl
an S
pons
or. T
he fe
e fo
r mai
ling
certa
in re
quire
d no
tices
is
calc
ulat
ed b
ased
on
prod
ucin
g, p
acka
ging
and
mai
ling
the
mat
eria
ls.
If an
y of
thes
e co
nsul
ting
serv
ices
are
per
form
ed a
nd th
e Pl
an's
Spo
nsor
dire
cts
Mas
sMut
ual t
o de
duct
the
fees
for t
hese
ser
vice
s fro
m p
artic
ipan
ts' a
ccou
nt b
alan
ces,
the
fees
w
ill b
e de
duct
ed o
n a
pro
rata
bas
is. Y
our s
hare
of t
he e
xpen
se w
ill b
e de
term
ined
by
mul
tiply
ing
the
fee
by a
ratio
that
is e
qual
to th
e va
lue
of y
our a
ccou
nt b
alan
ce d
ivid
ed b
y th
e va
lue
of a
ll pa
rtici
pant
s' a
ccou
nt b
alan
ces
unde
r the
pla
n.
Regu
lato
ry T
estin
g
Non
disc
rimin
atio
n te
stin
g is
requ
ired
to b
e pe
rform
ed e
ach
year
. Bas
ic n
ondi
scrim
inat
ion
test
ing
serv
ices
are
incl
uded
as
part
of th
e Pl
an's
adm
inis
trativ
e se
rvic
es e
xpen
ses.
Ho
wev
er, i
n ce
rtain
situ
atio
ns a
dditi
onal
fees
for n
ondi
scrim
inat
ion
test
ing
may
be
char
ged.
11
If th
e Pl
an S
pons
or m
aint
ains
two
or m
ore
retir
emen
t pla
ns a
nd th
ose
plan
s m
ust b
e co
mbi
ned
to p
erfo
rm th
e an
nual
non
disc
rimin
atio
n te
stin
g, a
fee
will
be
char
ged
to a
ggre
gate
th
e pl
ans
data
and
per
form
the
test
ing
on a
com
bine
d ba
sis.
The
fee
for a
ggre
gatin
g th
e re
tirem
ent p
lan
data
is $
2,00
0 pe
r pla
n.
If a
com
plet
ed n
ondi
scrim
inat
ion
test
nee
ds to
be
revi
sed
at a
late
r tim
e, a
$50
0 fe
e w
ill b
e ch
arge
d fo
r eac
h re
vise
d te
st. T
his
revi
sion
fee
appl
ies
to A
DP a
nd A
CP te
sts,
415
lim
itatio
n te
sts,
and
the
416
top-
heav
y te
sts.
Spec
ializ
ed n
ondi
scrim
inat
ion
test
ing
may
be
requ
ired
due
to th
e co
mpl
exity
of c
erta
in p
lan
prov
isio
ns. T
he fe
e fo
r spe
cial
ized
test
ing
is $
1250
. An
addi
tiona
l fee
of $
200
per h
our
will
be
char
ged
if m
ore
than
thre
e ho
urs
are
requ
ired
to c
ompl
ete
the
test
ing
serv
ice.
In a
dditi
on, t
he P
lan'
s de
finiti
on o
f com
pens
atio
n us
ed fo
r the
ann
ual n
ondi
scrim
inat
ion
test
ing
purp
oses
may
itse
lf re
quire
a n
ondi
scrim
inat
ion
test
. If t
he c
ompe
nsat
ion
ratio
test
is re
quire
d to
be
perfo
rmed
the
fee
is $
500.
If an
y ad
ditio
nal r
egul
ator
y te
stin
g se
rvic
es a
re p
erfo
rmed
and
the
Plan
's S
pons
or d
irect
s M
assM
utua
l to
dedu
ct th
e fe
es fo
r the
se s
ervi
ces
from
par
ticip
ants
' acc
ount
bal
ance
s,
the
fees
will
be
dedu
cted
on
a pr
o ra
ta b
asis
. You
r sha
re o
f the
exp
ense
will
be
dete
rmin
ed b
y m
ultip
lyin
g th
e fe
e by
a ra
tio th
at is
equ
al to
the
valu
e of
you
r acc
ount
bal
ance
di
vide
d by
the
valu
e of
all
parti
cipa
nts'
acc
ount
bal
ance
s un
der t
he p
lan.
Repo
rting
Ser
vice
s
The
retir
emen
t pla
n is
requ
ired
to fi
le F
orm
550
0 An
nual
Ret
urn/
Repo
rt of
Em
ploy
ee B
enef
it w
ith th
e U.
S. D
epar
tmen
t of L
abor
eac
h pl
an y
ear.
Prep
arat
ion
of th
e Fo
rm 5
500
Annu
al
Retu
rn/R
epor
t is
part
of th
e Pl
an's
adm
inis
trativ
e se
rvic
es e
xpen
ses.
How
ever
, in
certa
in s
ituat
ions
, add
ition
al fe
es fo
r pre
para
tion
or a
men
dmen
t of t
he F
orm
550
0 fil
ing
may
be
char
ged.
If th
is P
lan
has
inve
stm
ents
with
mor
e th
an o
ne in
vest
men
t pro
vide
r, a
fee
will
be
char
ged
to p
repa
re a
con
solid
ated
For
m 5
500
filin
g. T
he fe
e fo
r pre
para
tion
of a
con
solid
ated
Fo
rm 5
500
Annu
al R
etur
n fo
r a p
lan
that
has
pla
n as
sets
with
mul
tiple
inve
stm
ent p
rovi
ders
will
be
$500
per
inve
stm
ent p
rovi
der.
If M
assM
utua
l pre
pare
s an
am
ende
d Fo
rm 5
500
Annu
al R
etur
n/Re
port
filin
g fo
r the
Pla
n's
Spon
sor,
a fe
e w
ill b
e ch
arge
d. T
he fe
e to
pre
pare
an
amen
ded
Form
550
0 An
nual
Re
turn
/Rep
ort i
s $2
50 fo
r pla
n ye
ars
begi
nnin
g in
200
9 an
d la
ter a
nd $
500
for p
lan
year
s th
at b
egan
prio
r to
2009
.
If th
e Pl
an's
Spo
nsor
dire
cts
Mas
sMut
ual t
o de
duct
the
fees
for t
his
serv
ice
from
par
ticip
ants
' acc
ount
bal
ance
s, th
e fe
es w
ill b
e de
duct
ed o
n a
pro
rata
bas
is. Y
our s
hare
of t
he
expe
nse
will
be
dete
rmin
ed b
y m
ultip
lyin
g th
e fe
e by
a ra
tio th
at is
equ
al to
the
valu
e of
you
r acc
ount
bal
ance
div
ided
by
the
valu
e of
all
parti
cipa
nts'
acc
ount
bal
ance
s un
der t
he
plan
.
Cont
ract
Dis
cont
inua
nce
and
Term
inat
ion
Serv
ices
If at
som
e po
int i
n th
e fu
ture
the
Plan
dis
cont
inue
s th
e in
vest
men
t pro
vide
r rel
atio
nshi
p w
ith M
assM
utua
l eith
er b
y tra
nsiti
onin
g th
e Pl
an to
a n
ew re
cord
kee
per o
r bec
ause
of t
he
com
plet
e te
rmin
atio
n of
the
Plan
, add
ition
al fe
es m
ay b
e ch
arge
d de
pend
ing
on th
e te
rms
of th
e in
vest
men
t con
tract
/agr
eem
ent i
n ef
fect
at t
hat t
ime
and
certa
in a
dmin
istra
tive
serv
ices
per
form
ed in
con
junc
tion
with
the
even
t.
Whe
n in
vest
men
t con
tract
s ar
e di
scon
tinue
d, th
e pa
rtici
pant
s' a
ccou
nts
coul
d be
ass
esse
d co
ntra
ct s
urre
nder
cha
rges
, ter
min
atio
n as
set c
harg
es, o
r mar
ket v
alue
adj
ustm
ents
. Yo
ur P
lan'
s sp
ecifi
c in
vest
men
t con
tract
/agr
eem
ent w
ill id
entif
y w
hich
of t
hese
dis
cont
inua
nce
fees
are
in e
ffect
. The
dis
cont
inua
nce
fees
may
als
o be
dep
ende
nt o
n th
e co
nditi
ons
of th
e m
arke
t at t
he p
oint
in ti
me
the
inve
stm
ent c
ontra
ct/a
gree
men
t is
disc
ontin
ued.
If an
y sp
ecia
l rep
orts
are
requ
este
d du
ring
the
trans
ition
of t
he p
lan
to a
new
reco
rd k
eepe
r, a
$300
fee
may
be
char
ged
for e
ach
repo
rt.
Adju
stm
ent F
ees
12
© 2
018
Mas
sach
uset
ts M
utua
l Life
Insu
ranc
e Co
mpa
ny, S
prin
gfie
ld, M
A. A
ll rig
hts
rese
rved
. ww
w.m
assm
utua
l.com
.
RS48
94 8
11C:
2171
5-06
On o
ccas
ion,
the
Plan
Spo
nsor
may
requ
est t
hat c
erta
in c
alcu
latio
ns b
e pe
rform
ed to
mak
e ad
just
men
ts to
spe
cific
par
ticip
ants
' acc
ount
s or
to c
alcu
late
and
allo
cate
ear
ning
s.
The
fee
for s
uch
a se
rvic
e is
$75
per
hou
r.
If th
e Pl
an's
Spo
nsor
dire
cts
Mas
sMut
ual t
o de
duct
the
adju
stm
ent f
ee fr
om p
artic
ipan
ts' a
ccou
nt b
alan
ces,
the
fee
will
be
dedu
cted
on
a pr
o ra
ta b
asis
. You
r sha
re o
f the
ex
pens
e w
ill b
e de
term
ined
by
mul
tiply
ing
the
fee
by a
ratio
that
is e
qual
to th
e va
lue
of y
our a
ccou
nt b
alan
ce d
ivid
ed b
y th
e va
lue
of a
ll pa
rtici
pant
s' a
ccou
nt b
alan
ces
unde
r the
pl
an.
In a
dditi
on, t
here
may
be
othe
r adm
inis
trativ
e se
rvic
es p
erfo
rmed
by
serv
ice
prov
ider
s ou
tsid
e of
Mas
sMut
ual d
urin
g th
e ne
xt 1
2 m
onth
s. H
owev
er, i
t is
unkn
own
at th
is ti
me
if an
y se
rvic
es b
y ot
her s
ervi
ce p
rovi
ders
will
be
requ
ired,
wha
t fee
s m
ay b
e ch
arge
d an
d w
heth
er th
ose
fees
will
be
paid
from
pla
n as
sets
. Exa
mpl
es o
f oth
er a
dmin
istra
tive
serv
ices
th
at m
ay o
ccur
out
side
of M
assM
utua
l and
that
may
be
paid
by
plan
ass
ets
if no
t pai
d by
the
Plan
Spo
nsor
incl
ude
but a
re n
ot li
mite
d to
: leg
al s
ervi
ces;
third
par
ty a
dmin
istra
tor
serv
ices
; acc
ount
ing
serv
ices
; pla
n au
dits
; and
inte
rmed
iary
/adv
isor
ser
vice
s. If
any
fees
for s
ervi
ces
perfo
rmed
out
side
of M
assM
utua
l are
to b
e de
duct
ed fr
om p
artic
ipan
t ac
coun
ts, t
hey
may
be
dedu
cted
on
a pr
o ra
ta o
r a p
er c
apita
bas
is. T
he P
lan
Spon
sor w
ill d
irect
whi
ch a
lloca
tion
met
hod
will
be
used
whe
n th
e fe
e fo
r the
ser
vice
is s
ubm
itted
for
paym
ent t
o th
e se
rvic
e pr
ovid
er o
r rei
mbu
rsem
ent t
o th
e Pl
an S
pons
or.
The
Plan
may
impo
se c
erta
in c
harg
es a
gain
st in
divi
dual
par
ticip
ants
' acc
ount
s ra
ther
than
cha
rge
them
aga
inst
the
Plan
as
a w
hole
. The
se c
harg
es m
ay a
rise
base
d on
you
r use
of a
feat
ure
avai
labl
e un
der t
he P
lan
(e.g
., pa
rtici
pant
loan
s), o
r bas
ed o
n th
e ap
plic
atio
n of
app
licab
le la
w (e
.g.,
proc
essi
ng a
qua
lifie
d do
mes
tic re
latio
ns o
rder
in c
ase
of a
divo
rce)
. Any
fee
or e
xpen
se c
harg
ed a
gain
st y
our a
ccou
nt w
ill b
e re
porte
d to
you
in y
our q
uarte
rly a
ccou
nt s
tate
men
t in
the
cale
ndar
qua
rter f
ollo
win
g th
e qu
arte
r in
whi
ch th
ech
arge
occ
urs
(and
/or,
as a
pplic
able
, in
any
trans
actio
n st
atem
ent).
Activ
ity T
ype
Curr
ent F
ees
Insu
ffici
ent F
unds
$75
Repr
oces
sing
(adj
ustm
ent)
$75
Spec
ial M
ailin
g$2
0
062327-0000-0000
RS 12945-06 11/01/2018
1
If you are an eligible Participant in the Board of Trustees, Local No. 8 IBEW Retirement Plan & Trust (the “Plan”), you have the right to direct your plan investments. The amounts contributed to the Plan on your behalf will be invested in accordance with the Plan’s investment procedures. Any earnings on the investment of your contributions under the Plan will be allocated to your Plan account. If you have made an investment election with respect to your own account, the following information may not apply to you. Right to direct investment. This notice advises you that as a Participant (including a Beneficiary of a deceased Participant or alternate payee under a QDRO) in the Plan, you have the right to direct the investment of all of your Plan account assets. Default investment. You may invest your account specified above (your “directed account”) in any of the investment choices offered in the Plan. If you do not make an election as to how the Plan should invest any of your future directed account (e.g. rollover contribution, employee or employer contribution) by returning the election form to the Plan Administrator, by electronically making your election via logging on to the participant website at www.retiresmart.com or by calling 1-800-743-5274, the Plan Trustee will invest your future directed account in the “default” investment that the Plan officials have selected. The default investment is the T. Rowe Price Investment Series.
: IBEW 8 T. Rowe Price Retirement 2015 IBEW 8 T. Rowe Price Retirement 2020 IBEW 8 T. Rowe Price Retirement 2025 IBEW 8 T. Rowe Price Retirement 2030 IBEW 8 T. Rowe Price Retirement 2035 IBEW 8 T. Rowe Price Retirement 2040 IBEW 8 T. Rowe Price Retirement 2045 IBEW 8 T. Rowe Price Retirement 2050 IBEW 8 T. Rowe Price Retirement 2055
Generally target retirement date (lifecycle) investment options are designed to be held beyond the presumed retirement date to offer a continuing investment option for the investor in retirement. The year in the investment option name refers to the approximate year in which an investor in the option would plan to retire and likely would stop making new contributions to the investment option. However, investors may choose a date other than their presumed retirement date to be more conservative or aggressive depending on their own risk tolerance.
Target retirement date (lifecycle) investment options are designed for participants who plan to withdraw the value of their accounts gradually after retirement. Each of these options follows its own asset allocation path ("glide path") to progressively reduce its equity exposure and become more conservative over time. Options may not reach their most conservative allocation until after their target date. Others may reach their most conservative allocation in their target date year. Investors should consider their own personal risk tolerance, circumstances and financial situation. These options should not be selected solely on a single factor such as age or retirement date. Please consult the prospectus pertaining to the options to determine if their glide path is consistent with your long-term financial plan. Target retirement date investment options’ stated asset allocation may be subject to change. Investments in these options are not guaranteed and you may experience losses, including losses near, at, or after the target date. Additionally, there is no guarantee that the options will provide adequate income at and through retirement.
Description of default investment. The description of the default investment options including investment strategy, risk and return characteristics, and fees and expenses are shown on the attached Investment Profiles. Right to alternative investment. Even if the Plan Trustee invests some or all of your directed account in the default investment, you have the continuing right to direct the investment of your directed account in one or more of the
QUALIFIED DEFAULT INVESTMENT ALTERNATIVE (QDIA) NOTICE FOR PLAN YEAR BEGINNING 2018
BOARD OF TRUSTEES, LOCAL NO. 8 IBEW RETIREMENT PLAN & TRUST
062327-0000-0000
RS 12945-06 11/01/2018
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other investment choices available to you under the Plan. Specifically for Employer contributions, you are only able to diversify your account if you are over the age of 50. Those under the age of 50 may only diversify the 401(k) source. You may change your investments daily. You are entitled to transfer amounts defaulted into the default investment to any of the alternative investment choices without restriction or without incurring a financial penalty. To learn more about the available investments under the Plan, you may contact your Plan Administrator or log onto the participant website at www.retiresmart.com or call 1-800-743-5274. Additional information. Please refer to the Summary Plan Description and any Summary of Material Modifications for additional information regarding Plan contributions, withdrawal restrictions, and other Plan features. You also may contact the Plan Administrator for more information. The following is the name, address and phone number of the Plan Administrator.
Board of Trustees, IBEW Local No. 8 P.O. Box 60408 Rossford, OH 43460 (419) 666-4550
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