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PLAN IT | LIVE ITDO WHAT YOU LOVE START YOUR OWN BUSINESS

SPEND TIME WITH FAMILY KEEP ON WORKING

TRAVEL THE WORLD KICK BACK AND RELAX

VOLUNTEER CHANGE CAREERS PURSUE A HOBBY

RETIREMENT & BENEFIT PLAN SERVICES

Gerber Collision & Glass 401(k) Plan

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.

Now Is the Time to Change Your Future.

PLAN IT | LIVE IT

Merrill Lynch makes available products and services offered by Merrill Lynch, Pierce, Fenner & Smith Incorporated (MLPF&S) and other subsidiaries of Bank of America Corporation. MLPF&S is a registered broker-dealer, Member SIPC and a wholly owned subsidiary of Bank of America Corporation.

Non-Deposit Investment products:

Are Not FDIC Insured Are Not Bank Guaranteed May Lose Value

MLPF&S makes available investment products sponsored, managed, distributed or provided by companies that are affiliates of Bank of America Corporation or in which Bank of America Corporation has a substantial economic interest, including BofA® Global Capital Management.

Banking products are provided by Bank of America, N.A. and affiliated banks. Members FDIC and wholly owned subsidiaries of Bank ofAmerica Corporation.

Gerber Collision & Glass 401(k) Plan

Enroll Today. We Make It Easy.

Get Started Now.

Benefits OnLine®www.benefits.ml.com

For log-in instructions, see the insideback cover of this booklet.

The Retirement & BenefitsContact Center—(800) 228-4015

See page 8 for completeenrollment instructions.

Why Start Now 2

How Much to Contribute 4

How to Invest 6

How to Enroll 8

Special Plan Offerings 9

Investment Objectives 17

Plan Features 29

Worksheet(s) 33

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Dear Employee:

As part of your The Boyd Group US, Inc. employment benefits, you areeligible to enroll in the Gerber Collision & Glass 401(k) Plan. Participating inthis Plan may be one of the most important moves you can make to helpsecure your financial future.

Today, retirement looks different for everyone. Instead of traditional full-timeretirement, many people plan to work longer, work part-time, start their ownbusinesses, go back to school, cycle back and forth between work andleisure, or reinvent themselves in any number of ways.

No matter what your goals are, you have to plan ahead to get there. If youdon’t have enough assets for later in life, you may limit your choices andhave to keep working whether you want to or not. And participating in thePlan is not just about the future. It’s about taking advantage of real benefitstoday that may transform the choices and opportunities you have tomorrow.

This booklet is your guide to the Plan’s benefits and to getting started rightaway. So don’t wait. Enroll now to put yourself on the path to the futureyou want.

Respectfully,

Michelle Anderson, Benefits Administrator

Investing through the Plan involves risk, including the possible loss of theprincipal value invested.

People today are livinglonger, more activelives. Having a plan forthe future is moreimportant than ever topursuing the life youwant in retirement.

www.benefits.ml.com

1

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Why Start NowEvery Great Journey Has Its Rewards.

See how pre-tax contributions reduce taxes.

WE MAKE IT EASY

Virtually 24-HourAccount AccessThrough Benefits OnLine®you can:■ Enroll in your Plan■ Choose investments■ Find helpful tools

and resources■ Monitor your progress■ Manage your account

You have the opportunity to make retirement whatever you want. But gettingthere depends on the choices you make. Today, Social Security accounts foronly 36% of the average retiree’s income.1 The rest will likely come from yourown retirement savings and other sources. Starting now may be thedifference between achieving what you want and settling for less.

You’ll get a break on your taxes.Contributing to your Plan is not just smart. It’s a great deal. Retirementaccounts are designed with specific tax advantages to help your money gofurther. Your Plan allows you to choose contributions with different taxbenefits. Here’s how it works:

■ Pre-tax contributions—You pay no income taxes on your contributions orany investment earnings until you take a withdrawal.2 That gives you thebenefits of reduced taxable income now and potentially reduced taxpayments later in retirement, when you may be in a lower tax bracket.

■ Roth 401(k) contributions—You contribute after-tax dollars to youraccount, but pay no taxes on any earnings on these contributions whenyou take a qualified withdrawal later.3 This contribution type can bebeneficial if you think you may be in a higher tax bracket when you retire.

For more information on choosing between pre-tax and Roth contributions,see “Special Plan Offerings.” Use the Roth 401(k) Comparison Calculatoron Benefits OnLine to see how the different types of contributions mayaffect your potential results.

If you make $35,000 and contribute$116.67 per month of pay ($1,400for the year), you'll save $210 on yourannual taxes.

This example assumes an annual pre-tax contribution of 4%, but you can contribute up to your Plan’s maximumcontribution limit, subject to tax law limitations. This example is for illustrative purposes only and was developed usingthe Internal Revenue Service’s 2014 tax tables. The example assumes a filing status of “single,” with no deduction orexemption claimed. Your personal federal income tax savings may be higher or lower. State and local taxes not included.Numbers rounded to the nearest whole dollar. Taxes are due upon withdrawal. If you take a distribution prior to age59½, you may also be subject to a 10% additional federal tax.

In the Plan Not in the Plan

Annual pay $ 35,000 $ 35,000

Contribution rate 4% 0%

Annual contribution $ 1,400 $ 0

Taxable income $ 33,600 $ 35,000

Taxes due $ 4,586 $ 4,796

Annual tax savings $ 210 $ 0

2

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See how your money may grow by starting now.

Savers Tax Credit—If you earn up to $30,500 a year in 2015 ($45,750 forheads of household and $61,000 if married, filing jointly), you may be eligiblefor a tax credit. Go to the “Advice & Planning” tab on Benefits OnLine (select“Personal Finance,” then “Tax Strategies,” then “Tax Credits”) or consult atax advisor for more information (Source: IRS. IR-2014-99, Oct. 23, 2014).

Compounding can help your money grow.If the investments in your account earn money—including interest, dividends,or other returns—you may then accumulate earnings on those earnings.That’s called compounding. It’s a powerful potential benefit that can keepyour money working for you. And the sooner you start, the more powerfulcompounding can be (see example below).4

The vested money is yours to keep.Even if you leave your job, the vested balance in your account is always yours.

1 Source: Social Security Administration. Fast Facts & Figures About Social Security. August 2013.2 Taxes are due upon withdrawal. Additionally, if you take a distribution prior to age 59½, you mayalso be subject to a 10% additional federal tax.3 In order to be considered a qualified distribution, at least five years must elapse from the year ofyour initial Roth 401(k) contribution, and you must be at least age 59½. Distributions upon yourdisability or death would also be considered qualified.4 Investing in the Plan involves risk, including the possible loss of the principal value invested.

If you contribute $116.67 a month starting at age 35, you could potentially have $114,247 by age 65.Waiting just one year could cost you $7,830 in potential growth.

This hypothetical illustration assumes annual compensation of $35,000, an annual effective rate of return of 6%, andpre-tax contributions made at the beginning of each month. Hypothetical results are for illustrative purposes only and arenot meant to represent the past or future performances of any specific investment vehicle. Investment return andprincipal value will fluctuate, and when redeemed, the investments may be worth more or less than their original cost.Taxes are due upon withdrawal. If you take a distribution prior to age 59½, you may also be subject to a 10% additionalfederal tax.

Start Now(Contributing 4%)

Start OneYear Later

(Contributing 4%)

Yourcontributions$42,000

Earnings$72,247 Potential savings

at age 65$114,247

$40,600 $65,817 Potential savingsat age 65$106,417

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How Much to ContributeBeing Prepared Can Make All the Difference.

See how far even a little more could go.

WE MAKE IT EASY

Automatic PayrollDeductionsPlan contributions are made throughregular payroll deductions, whichmake it easy and automatic. And,you can adjust your contribution rateif your goals or circumstanceschange.

Generally, Merrill Lynch suggests that you may need as much as 90% of yourpre-retirement, after-tax annual income to maintain your lifestyle for each yearof retirement. Even though retirement for most people may be anything butconventional, contributing and investing as much as you can now can helpgive you the freedom to pursue your goals without wondering how you’ll meetyour living expenses.

Contribute as much as possible.The more you contribute, the better prepared you could be. The chart belowshows how various contribution rates can affect the growth potential of yourretirement account.

If you’re not sure how much to contribute, consider starting with at least 4%of pay or more, if possible. Consider using Advice Access, a service that givesyou a personalized recommendation on how much to contribute and muchmore. See “Special Plan Offerings” on page 9 for details. Once you getstarted, increase your contributions periodically if you can.

Here’s what different contribution rates might mean to you at age 65 if you start at age 35. Tax-deferredcompounding helps even small increases grow faster over time.

This hypothetical illustration assumes annual compensation of $35,000, an annual effective rate of return of 6%, andpre-tax contributions made at the beginning of each month. Hypothetical results are for illustrative purposes only and arenot meant to represent the past or future performances of any specific investment vehicle. Investment return andprincipal value will fluctuate, and when redeemed, the investments may be worth more or less than their original cost.Taxes are due upon withdrawal. If you take a distribution prior to age 59½, you may also be subject to a 10% additionalfederal tax.

Contribution Rate2% 4% 6% 8% 10%

Monthlycontributions $ 58.33 $ 116.67 $ 175.00 $ 233.33 $ 291.67

Your totalcontributions $ 21,000 $ 42,000 $ 63,000 $ 84,000 $ 105,000

Potential balanceat age 65 $ 57,123 $ 114,247 $ 171,370 $ 228,493 $ 285,616

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SAMPLE

Retirement Planning Calculator

of 6 Step 5 of 6Do You Need To Save More? Implement Your Strategy

Your annual retirement income shortfall, if any

Estimated additional funds needed at retirement tocover shortfall

Estimated additional annual savings needed to covershortfall

Estimated additional annual savings needed as apercent of your current income

1 3 , 5 6 2$

2 8 4 , 3 2 5$

6 , 2 7 7$

1 0%

AnnualAnnualIncome GoalIncome GoalThere is a gapThere is a gapbetween what youbetween what youare likely to have atare likely to have atretirement vs. whatretirement vs. whatyou will need.you will need.

$50,000

$37,500

$25,000

$12,500

Annual retirement incomeShortfall

BA

CK

BA

CK

NE

XT

NE

XT

Lifetime IncomeLifetime Income Retirement SavingsRetirement Savings Total RetirementTotal RetirementIncomeIncome

Annual RetirementAnnual RetirementGoalGoal

Savings NeededSavings Needed Action StepsAction Steps

The screen shot(s) shown in this booklet are intended to illustrate the functionality and services available to participants on Bene�ts OnLine. They are not meant as exact representations of the screens available through your Plan. All examples are hypothetical and intended for illustrative purposes only.

Contribute to the limit if you can.If you’re able to contribute the maximum, take advantage of the IRScontribution limit for 2015. You can contribute up to $18,000—including bothpre-tax and Roth contributions—or your Plan maximum, whichever is less. Ifyou’re 50 or older in 2015, you may be eligible to contribute an additional$6,000 in catch-up contributions.

Take advantage of online resources.A wealth of tools and information is available on Benefits OnLine to help youdevelop your personal retirement strategy. You'll find many of these materialsin the Education Center, which is available even before you log in to the site.

■ Take Home Pay Calculator—Shows you how different contribution ratesaffect your take home pay.

■ Retirement Planning Calculator—Calculates how much you may need toaccumulate for retirement (see example below).

■ Roth 401k Comparison Calculator—Lets you create personal scenariosand model different hypothetical outcomes by entering your anticipatedretirement date, contribution rates and tax rates.

www.benefits.ml.com

5

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How to InvestA Long-Term Perspective Helps As You Go.

Risk/Reward Potential of the Three Asset Classes

Hig

h

Stocks/Equities Ownership shares in a company

Mod

erat

e

Bonds/Fixed Income

Loans of money to a company or government body that promises to repay you (with interest) at a certain time

Low Money Market/

Stable Value

Short-term debt securities (loans) from a government or company that will be paid back within a year, such as U.S. Treasury bills, certificates of deposit, and commercial paper

WE MAKE IT EASY

Investment HelpThrough your Plan, you can takeadvantage of special services tomake your investmentdecisions easier:

Advice Access— Providespersonalized, specific contributionand investment recommendationsand automatic accountmanagement.

GoalManager® PortfolioRebalancing Service— Offersan easy way to choose a diversifiedmix of investments that isrebalanced automatically.

See “Special Plan Offerings” onpage 9 to learn more.

Important note on stocks: Stock funds give youthe potential for capital appreciation andgenerally carry more risk than the otherinvestment options offered through the Plan.

Important note on bond funds: Return ofprincipal is not guaranteed. Bond funds have thesame interest rate, inflation, and credit risks thatare associated with the underlying bonds ownedby the fund. Generally, the value of the bondfunds rises when prevailing interest rates fall andfalls when interest rates rise. There are ongoingfees and expenses associated with owningshares of bond funds.

Important note on money market/stable valuefunds: Any guarantee by the U.S. Government,its agencies or instrumentalities applies only tothe payment of principal and interest on theguaranteed security and does not guarantee theyield or value of that security.

When you enroll in the Plan, you will need to choose how to invest yourcontributions. By understanding a few basics, you can start on your waytoward reaching your retirement goals.

Understand investment risk and reward.All investments are subject to risk—the chance that you will lose some or allof your original investment. Investments are often divided into three basiccategories, or asset classes, representing different levels of risk. These areshown below. Generally, the greater the risk, the greater the potential returnand the greater the potential loss.

Know your risk profile.The amount of risk you take depends on:

■ Your goals—How much will you need? What sort of retirement lifestyle doyou have in mind?

■ Your time horizon—How long do you have until retirement? Do you havetime to weather the ups and downs of the market?

■ Your risk tolerance—How much risk are you comfortable with? Howmuch risk can you afford to take?

While you may be concerned about taking too much risk, there may alsobe danger in taking too little. If your investment returns do not keep upwith inflation or your future needs, you may be left without enough funds tomeet your retirement needs.

To help determine your risk tolerance, complete the “Risk AssessmentGuide” in the back of this booklet. If you choose Advice Access, some ofyour investment decisions are made automatically, based on other factorsbesides risk. However, it is still a good idea to understand your risktolerance. More information on the basics of investing is available onBenefits OnLine under the “Advice & Planning” tab.

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About the data Small stocks are represented by the �fth capitalization quintile of stocks on the NYSE for 1996-1981 and the Dimensional Fund Advisors, Inc. (DFA) U.S. Micro Cap Portfolio thereafter. Large stocks are represented by the Standard & Poor’s 500®, which is an unmanaged group of securities and considered to be representative of the stock market in general, government bonds by the 20-year U.S. government bond, Treasury bills by the 30-day U.S. Treasury bill, and international stocks by the Morgan Stanley Capital International Europe, Australasia, and Far East (EAFE®) Index. An investment cannot be made directly in an index. The data assumes reinvestment of all income and does not account for taxes or transaction costs. The diversi�ed portfolio is equally weighted between small stocks, large stocks, long-term government bonds, Treasury bills and international stocks.Past performance is no guarantee of future results. This is for illustrative purposes only and not indicative of any investment.©2014 Morningstar. All Rights Reserved. 3/1/2014

Asset Class Winners and Losers

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010

HighestReturn

LowestReturn

Small stocks Large stocks International stocks Long-term government bonds Treasury bills

2011 2012

29.8 21.5 22.8 17.8 60.7 20.7 14.0 26.9 11.6 25.9 32.5

27.3 5.9 3.8 1.6 39.2 18.4 7.8 16.2 9.9 1.6 28.1

21.0 0.1 3.7 -6.3 28.7 11.9 7.1 15.8 5.5 -17.9 26.5

14.8 -3.6 -0.6 -13.3 26.2 10.9 5.7 13.0 5.3 -36.7 14.4

4.7 -9.1 -11.9 -15.7 1.4 8.5 4.9 4.8 4.7 -37.0 0.1

-9.0 -14.0 -21.2 -22.1 1.0 1.2 3.0 1.2 -5.2 -43.1 -14.9

31.3

15.1

13.0

10.1

8.2

0.1

45.1

32.4

23.3

17.9

0.0

-11.4

28.2

3.1

2.1

0.0

-3.3

-11.7

18.2

17.9

16.0

11.1

3.3

0.1

2013

Choose a diversified mix of investments.Choosing investments is largely about managing risk. One key to managingrisk is diversification. That means spreading your money across the differentasset classes and investment types so rising values in one asset class couldhelp cushion declining values in another.5

Tailor your strategy with an appropriateasset allocation.The way you mix your investments among the three basic asset classes—orthe percentage of contributions you direct to each type—is called assetallocation. Different asset allocations are intended to help achieve differentoutcomes and should be chosen based on your goals and risk profile.Depending on how your investments perform, your asset allocation maychange over time. That’s why it is important to regularly rebalance youraccount to maintain your preferred asset allocation. Keep in mind that assetallocation cannot eliminate the risk of fluctuating prices anduncertain returns.

Stay focused on your goals.When you invest through the Plan, it’s important to focus on your long-termgoals, not the ups and downs of the financial markets. Periods of sharp orextended market downturns can be unsettling. By keeping a long-term view,monitoring your investing strategy and maintaining a diversified portfolio, youcould increase your likelihood of reaching your goals.

5 Diversification does not ensure a profit or protect against loss.

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How to EnrollA Few Simple Steps Can Get You Going.WE MAKE IT EASY

RolloversYour Plan allows you to “roll over”retirement assets from otherqualified plans to this Plan so youcan manage your assets all in oneplace. Please consider theadvantages and disadvantages of arollover carefully. Refer to the “PlanFeatures” section for a list ofcontribution types that may be rolledover into this Plan.

If you prefer, you can roll over yourmoney from previous plans to aRollover IRA. You have choices forwhat to do with your 401(k) or othertype of plan-sponsored account.Depending on your financialcircumstances, needs and goals,you may choose to roll over to anIRA or convert to a Roth IRA, roll overa 401(k) from a prior employer to a401(k) at a new employer, take adistribution, or leave the accountwhere it is. Each choice may offerdifferent investment options andservices, fees and expenses,withdrawal options, requiredminimum distributions, taxtreatment, and provide differentprotection from creditors and legaljudgments. These are complexchoices and should be consideredwith care. For more information, callRetirement Education Services at(877) 637-1786.

PersonalManager®Choose this service from AdviceAccess to get the mostcomprehensive investmenthelp available.

Enroll online at www.benefits.ml.com.■ The first time you visit, click “Create User ID” to create your unique User

ID and Password (see inside back cover for details).

■ Click “Enroll Now” on the My Accounts page. Then click “GetStarted Now.”

■ Choose a contribution rate for your preferred contribution types.Click “Continue.”

■ Choose how to invest your contributions. Click “Compare InvestingSolutions” at top of screen to help select the option that’s mostappropriate for you.

■ Review your elections and click “Submit My Enrollment.” Enter yourPassword, and click “Yes” to complete your enrollment.

When you enroll, designate a beneficiary for your account. You can do thisat the end of the enrollment process. On the “You’re Done!” screen, lookfor “Select Your Beneficiaries” under “Other Things to Consider.”

Enroll by phone at (800) 228-4015.■ The Interactive Voice Response (IVR) system is available virtually 24/7.

■ Participant Service Representatives are available Monday through Friday,8 a.m. to 7 p.m. (ET) on all days the New York Stock Exchange is open.

■ International calls: (609) 818-8819 (call collect to speak to a ParticipantService Representative).

■ Telecommunications device for the deaf (TDD): (866) 657-3323 (call toreach a Participant Service Representative).

Review your account regularly.Once you’re enrolled, be sure to review your investment selectionsperiodically. If your goals or circumstances change, consider revising yourstrategy and investment selections to match them.

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Special Plan OfferingsYour Plan provides additional offerings designed to expand your investmentchoices and help make your investment decisions easier. Consider how thesesolutions might benefit you.

■ Advice Access

■ GoalManager® Portfolio Rebalancing Service

■ Roth 401(k) Contributions

More information on these offerings follows. You can choose these offeringsthrough Benefits OnLine®when you enroll in your Plan or anytime thereafter.You can always update your selections if your goals or preferences change.

Advice AccessGet Personalized Guidance or Recommendations andAutomatic Account Management.Advice Access takes the guesswork out of investing for retirement byproviding specific recommendations on how much to contribute and whichinvestments to choose. The service can also automatically review and adjustyour investments to help keep you on track toward reaching your retirementincome goal.

What It Offers■ Personalized strategy and investment guidance or recommendations based

on your personal data, including age, salary, current account balance (if any)and projected retirement date

■ Recommended contribution rate, asset allocation, andinvestment selections

■ Ongoing account management with PersonalManager®, includingautomatic review and adjustment of your investment strategy approximatelyevery 90 days

How It WorksAdvice Access uses basic information provided by your employer as astarting point for its recommendations. You can provide—on a confidentialbasis—additional information about your financial situation. The moreinformation you provide, the more tailored your recommendations can be.

Your proposed strategy includes how much you should contribute to thePlan, which of the Plan’s investments to select, and what percentage of yourcontributions to invest in each. It also includes the age when you canreasonably expect to generate the income you need to stop working.

Upon your approval, Advice Access will implement the recommendations.When you choose PersonalManager, your investment strategy will be

DON’T MISS OUT ONGREAT BENEFITS

These offerings can behighly valuable inpreparing for the future.Review the informationthat follows in thissection to learn more.

IS IT RIGHT FOR ME?

If you want yourinvestment decisionsmade for youautomatically, AdviceAccess may be for you.ChoosePersonalManager® forthe most comprehensivelevel of service.

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periodically reviewed, and your investment selections and asset allocationwill be automatically updated as necessary to help keep your accounton track.

If you prefer to take on more responsibility for managing your account, youcan choose Portfolio Rebalancing, which will automatically rebalance youraccount periodically to maintain your recommended asset allocation.However, it will not review and update your investment strategy. Or, you canchoose One-Time Implementation, which implements your Advice Accessrecommendations but does not review or manage your account. If youchoose this option, you should be sure to revisit your investment strategyand consider rebalancing on a regular basis.

With Advice Access, you can receive advice online or over the phone. Shouldyou decide at any time to take on more or less of the decision-makingprocess, you can easily change how Advice Access is implemented.

How to Sign Up for Advice AccessYou can make your selection through Benefits OnLine®at any time.

1. Log in to www.benefits.ml.com (see instructions on inside back cover ifyou need help).

2. To select Advice Access when enrolling online (otherwise skip to #6below): On the “Choose How to Invest” screen, select the option for“Personalized Investment Strategy.” Click “Continue.”

3. Click “Take Action” to review your personalized investment strategy.

4. Choose “Tell Us More” to provide additional information. The moreinformation you provide, the more tailored your recommendations can be.

5. Follow the prompts to accept your strategy and choose the level ofservice you want. Choose PersonalManager for the most comprehensivesolution, including automatic account management. Follow the prompts toconfirm and submit your enrollment.

6. To select Advice Access after enrollment: Go to “Current Elections”under the “401(k)” tab and select “Investment Direction.” Click “ChangeInvestments.” Select the option for “Personalized Investment Strategy.”Follow the prompts to review and accept your personalized strategy, andchoose the level of service you want.

You can also make your selection by calling the Retirement & BenefitsContact Center at (800) 228-4015.

The Advice Access service uses a probabilistic approach to determine thelikelihood that you may be able to achieve your stated goals and/or toidentify a range of potential wealth outcomes that could be realized.Additionally, the recommendations provided by Advice Access do not consideran individual’s comfort level with investment risk, and may include a higherlevel of investment risk than you may be personally comfortable with. You arestrongly advised to consider your personal goals, overall risk tolerance, andretirement horizon before accepting any recommendations made by AdviceAccess. You should carefully review the explanation of the methodology used,

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including key assumptions and limitations, which is provided in the AdviceAccess disclosure statement. It can be obtained through Benefits OnLine orthrough a Participant Service Representative.

IMPORTANT: The projections or other information shown in the Advice Accessservice regarding the likelihood of various investment outcomes arehypothetical in nature, do not reflect actual investment results and are notguarantees of future results. Results may vary with each use and over time.

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IS IT RIGHT FOR ME?

If you need helpselecting a mix ofinvestments,GoalManager® may befor you.

The chart following thissection compares AdviceAccess andGoalManager®.

RISK-BASEDPORTFOLIO MODELSLET YOU CHOOSE ANINVESTING STYLE

Are you a conservative,moderate or aggressiveinvestor? Completethe “Risk AssessmentGuide” at the end ofthis booklet to find outwhich model may beappropriate for you.

GoalManager® PortfolioRebalancing ServiceGet a Diversified Mix of Investments andAutomatic Rebalancing.As an alternative to Advice Access, you can choose the GoalManager®Portfolio Rebalancing Service. GoalManager makes it easy to choose yourretirement plan investments. You simply pick one portfolio model based onyour tolerance for investment risk. Each portfolio model contains a preselectedmix of investments. GoalManager automatically maintains your assetallocation over time.

What It Offers■ A selection of portfolio models with different asset allocations and

investment mixes

■ Automatic rebalancing

How It WorksGoalManager’s diversified portfolio models include different mixes ofinvestments from the primary asset classes—stocks, bonds and moneymarket/stable value. The portfolio models, which are drawn from theinvestments offered through your Plan, are customized by your employer andtailored to varying levels of risk and potential reward. You choose a single,diversified portfolio model that best suits your situation. Remember,diversification does not ensure a profit or protect against loss.

Risk-Based Portfolio Models

Risk-Based Portfolio Models are based on different tolerances forinvestment risk. If you are very comfortable with risk and seek high growth,you might choose an “aggressive” model that invests heavily in stock funds.If you want to preserve your investment, you might choose a relatively low-risk, “conservative” model that invests more heavily in bonds and moneymarket/stable value funds. Your portfolio model is automatically rebalancedquarterly to maintain the portfolio model’s asset allocation.

Your Plan offers several portfolio models, each providing a different degreeof investment risk. You may want to complete the “Risk Assessment Guide”at the back of this booklet to help you determine your tolerance for risk.

The following chart shows the breakdown of funds for each portfolio model.You may choose only one portfolio model at a time. To maximize theeffectiveness of your portfolio model, consider investing your entire accountin that portfolio model.

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Asset Class and Fund Name

Your Risk-Based Portfolio Model Choices

ConservativeConservativeTo Moderate Moderate

Moderate ToAggressive Aggressive

Money Market/Stable Value Investment Option(s) 6% 4% 1% - -

Morley Stable Value Fund Class 55 6% 4% 1% - -

Fixed Income/Bond Investment Option(s) 72% 54% 37% 19% 5%

Ivy High Income Fund Class Y 5% 3% 2% 1% -

JPMorgan Government Bond Fund Class A 46% 32% 20% 10% 3%

Lord Abbett Income Fund Class A 13% 13% 11% 6% 2%

PIMCO Real Return Bond Fund Class A 8% 6% 4% 2% -

Equity/Stock Investment Option(s) 19% 38% 58% 77% 90%

BlackRock Equity Dividend Fund Class A 5% 9% 13% 16% 17%

Goldman Sachs Small Cap Value Fund Class A 1% 2% 3% 5% 7%

Janus Triton Fund Class A - 1% 2% 3% 4%

John Hancock Disciplined Value Mid Cap Fund Class A 3% 5% 7% 9% 10%

MFS Massachusetts Investors Growth Stock Fund Class A 4% 7% 10% 12% 14%

Oppenheimer Developing Markets Fund Class A 1% 2% 4% 6% 8%

Oppenheimer International Growth Fund Class A 4% 8% 13% 17% 20%

PIMCO RealEstateRealReturn Strategy Fund Class A - 1% 2% 3% 4%

Prudential Jennison Mid Cap Growth Fund Class A 1% 3% 4% 6% 6%

Other 3% 4% 4% 4% 5%

PIMCO Commodity Real Return Strategy Fund Class A 3% 4% 4% 4% 5%

Total of shaded rows for each portfolio model = 100% (overview by asset class)Total of nonshaded rows for each portfolio model = 100% (total for all funds in the portfolio model)

How to Select a GoalManager® Portfolio Model

You can make your selection through Benefits OnLine®at any time. Sinceyour Plan offers both Advice Access and GoalManager Portfolio RebalancingService, remember that you can choose one service or the other, butnot both.

1. Log in to www.benefits.ml.com (see instructions on inside back cover ifyou need help).

2. To select GoalManager when enrolling online: On the “Choose How toInvest” screen, select the Risk-Tolerance Investing option. Find the portfoliomodel that best reflects your investment risk tolerance and click “Selectthis model.”

3. To choose or change a portfolio model after you are enrolled: Go to“Current Elections” under the “401(k)” tab and select “InvestmentDirection.” Click “Change Investments.” Select the appropriateGoalManager option and then your preferred portfolio model. Enter thepercentage you want to invest next to GoalManager.

You can also make your selection by calling the Retirement & BenefitsContact Center at (800) 228-4015.

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Comparing Advice Accessand GoalManager®To help you determine which service and features are right for you, reviewthe chart below.

FeaturesAdvice Access

(choose from the three levels of service below)GoalManager Portfolio Rebalancing Service

PersonalManagerPortfolio

RebalancingOne-Time

Implementation Risk-Based Portfolios

Advice

Personalized strategy and investment guidance recommendations based on your personal data, including age, salary, projected retirement date

Recommendation on how much to contribute Recommendation on asset allocation (how much to place in each recommended investment)

Recommendation on which investments to choose

Simplified Investment Solutions

Choice of several pre-selected portfolio models with differing asset allocations based on risk tolerances

Choice of pre-selected portfolio models with differing asset allocations based on anticipated retirement date

Ongoing Account Management

Automatic rebalancing of current asset allocation Automatic adjustment of asset allocation to become more conservative as retirement date approaches

Automatic review and adjustment of entire investment strategy, including asset allocation and investment selections, every 90 days

/

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IS IT RIGHT FOR ME?

If you believe your taxrate will be higher inretirement, Rothcontributions may be foryou. If you expect yourtax rate to be lower, youmay want to stick withpre-tax contributions.

Roth 401(k) ContributionsChoose the Tax Advantages Best for You.Roth 401(k) contributions offer an alternative to traditional pre-taxcontributions, allowing you to contribute after-tax dollars to your retirementplan account. You then don’t have to pay taxes on your contributions or anyinvestment earnings when you take a qualified distribution later.1 This is unlikepre-tax contributions, where you pay no taxes up front, but owe them when youtake a withdrawal.2 You can choose to make only Roth contributions, only pre-tax contributions or a combination of both.

What It OffersFollowing is a comparison of pre-tax and Roth 401(k) contributions to help youbetter understand the differences.3

Roth 401(k) Contributions(taxes due now)

Pre-Tax Contributions(taxes due later)

Taxes on yourcontributions

Taxes due for the year contributions are made(contributions are deducted from after-tax pay and do not reduce current taxable income)

Taxes due upon withdrawal2 (contributions arededucted from pre-tax pay, reducing current taxableincome)

Taxes on your earningsNo taxes due on any earnings when you take aqualified distribution1 Taxes due upon withdrawal2

Contribution limitsCount toward your Plan’s annual elective deferralcontribution limit and the IRS limit

Count toward your Plan’s annual elective deferralcontribution limit and the IRS limit

Rollovers if you leaveyour job

Your account balance can be rolled over to a RothIRA or another qualified employer-sponsored planthat accepts these contributions*

Your account balance can be rolled over to atraditional IRA, a 401(k) plan or another qualifiedemployer-sponsored plan*

Loan and hardship withdrawal

Available Available

Required minimumdistributions

Must begin at age 70½ unless rolled over to a Roth IRA, which has no required minimum distributions

Must begin at age 70½ (if rolled over to a traditional IRA, required minimum distributions may also apply)

*You have choices for what to do with your 401(k) or other type of plan-sponsored account. Depending on your financial circumstances, needs and goals, you may choose to roll over to an IRA or convert to a Roth IRA, roll over a 401(k) from a prior-employer to a 401(k) at a new employer, take a distribution, or leave the account where it is. Each choice may offer different investment options and services, fees and expenses, withdrawal options, required minimum distributions, tax treatment, and provide different protection from creditors and legal judgments. These are complex choices and should be considered with care.

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SEE WHAT ROTHCONTRIBUTIONSMIGHT MEANFOR YOU

Use the Roth 401(k)ComparisonCalculator onBenefits OnLine®tocreate your ownscenarios and seethe potentialresults.

How It WorksYou can choose Roth contributions when you enroll in your Plan or at any timeafter you’re enrolled. Following are some things to keep in mind whenconsidering Roth contributions:

■ Roth contributions will likely result in less take-home pay when contributingthe same percentage as pre-tax contributions. If you want to keep your take-home pay the same when making Roth 401(k) contributions, you may needto contribute a lesser percentage of pay.

■ If you already have substantial pre-tax assets and are unsure whether yourincome will be higher or lower in retirement, you may want to considerswitching to Roth contributions so you have some of both types.

How to Select Roth 401(k) ContributionsYou can select Roth 401(k) contributions through Benefits OnLine at anytime. Just follow the instructions below.

1. Log in to www.benefits.ml.com (see instructions on inside back cover ifyou need help).

2. To select Roth contributions during online enrollment: On the “SelectContribution Rates” screen, enter the percentage of pay you wish tocontribute for Roth 401(k) Contributions.

3. To choose Roth contributions after you are enrolled, go to “CurrentElections” under the “401(k)” tab and select “Contribution Rates.” Thenselect “Change Contributions Rates.”

4. Enter the percentage of pay you wish to contribute for Roth 401(k)Contribution.

1 In order to be considered a qualified distribution, at least five years must elapse from theyear of your initial Roth 401(k) contribution, and you must be at least age 59½. Distributionsupon your disability or death would also be considered qualified if at least five years haselapsed from the year of your initial Roth 401(k) contribution.2 Additionally, if you take a distribution prior to age 59½, you may be subject to a 10%additional federal tax.3 Federal tax rules are complex and subject to change. You should consult with a tax advisor formore specific, individualized information.

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Investment ObjectivesThis section summarizes the investment objectives for each of theinvestments offered by your Plan. Keep in mind that your Plan offers AdviceAccess, a service that can help make your investment decisions for you, aswell as GoalManager® Portfolio Rebalancing Service, which makes it easyto choose a diversified mix of investments based on your goals. See the“Special Plan Offerings” section for more information.

This list of investments is current as of the publication of this booklet. Youcan always review your Plan’s investment choices, or changes to your plan, onBenefits OnLine.

Each of the investment objectives in this section are followed by superscriptnumbers corresponding to specific risk disclosures. The disclosures can befound later in this section under “Important Risk Disclosures”.

FOR PREVIEW ONLY

BlackRock Equity DividendFund Class A

Asset Category: Equity IncomeFundsSymbol: MDDVX

FOR PREVIEW ONLY

Investment Objective: The investment seeks long-term total return and current income. The fundseeks to achieve its objective by investing primarily in a diversified portfolio of equity securities.Under normal circumstances, it will invest at least 80% of its assets in equity securities and at least80% of its assets in dividend paying securities. The fund may invest in securities of companies withany market capitalization, but will generally focus on large cap securities. It may also invest inconvertible securities and non-convertible preferred stock. The fund may invest up to 25% of itstotal assets in securities of foreign issuers.1, 2, 3, 4, 5, 6, 7, 8, 9

FOR PREVIEW ONLY

Columbia MidCap IndexFund Class A

Asset Category: Mid-Cap CoreFundsSymbol: NTIAX

FOR PREVIEW ONLY

Investment Objective: The investment seeks total return before fees and expenses that correspondsto the total return of the Standard & Poor's (S&P) MidCap 400® Index. The fund invests at least80% of its net assets (including the amount of any borrowings for investment purposes) in commonstocks that comprise the S&P MidCap 400 Index. In seeking to match the performance of the index,the Investment Manager attempts to allocate the fund's assets among common stocks inapproximately the same weightings as the index. It attempts to achieve at least a 95% correlationbetween the performance of the index and the fund's investment results, before fees andexpenses.4, 5, 7, 8, 10, 11, 12, 13, 14, 15

FOR PREVIEW ONLY

Columbia Small Cap IndexFund Class A

Asset Category: Small-Cap CoreFundsSymbol: NMSAX

FOR PREVIEW ONLY

Investment Objective: The investment seeks total return before fees and expenses that correspondsto the total return of the Standard & Poor's (S&P) SmallCap 600® Index. Under normalcircumstances, the fund invests at least 80% of its net assets (including the amount of anyborrowings for investment purposes) in common stocks that comprise the S&P SmallCap 600Index. It attempts to achieve at least a 95% correlation between the performance of the index andthe fund's investment results, before fees and expenses. The fund may invest in derivatives,consisting of relevant stock index futures, to gain exposure to the small cap equity market pendingdirect investments in securities.4, 5, 7, 8, 10, 11, 12, 13, 14, 16

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First Eagle Global FundClass A

Asset Category: Flexible PortfolioFundsSymbol: SGENX

FOR PREVIEW ONLY

Investment Objective: The investment seeks long-term growth of capital. The fund normally investsits assets primarily in common stocks (and securities convertible into common stocks) of U.S. andforeign companies. Investment decisions for the fund are made without regard to the capitalization(size) of the companies in which it invests. The fund may invest in any size company, includinglarge, medium and smaller companies. It may also invest in fixed-income instruments (withoutregard to credit rating or time to maturity), short-term debt instruments, gold and other preciousmetals, and futures contracts related to precious metals.3, 5, 7, 8, 10, 15, 16, 17, 18, 19, 20, 21

FOR PREVIEW ONLY

Franklin Rising DividendsFund Class A

Asset Category: Multi-Cap CoreFundsSymbol: FRDPX

FOR PREVIEW ONLY

Investment Objective: The investment seeks long-term capital appreciation. The fund invests atleast 80% of its net assets in investments of companies that have paid consistently risingdividends. It invests predominantly in equity securities, primarily common stock. The fund mayinvest in companies of any size, across the entire market spectrum. It may invest up to 25% of itstotal assets in foreign securities.3, 4, 5, 7, 8, 15, 16, 22, 23

FOR PREVIEW ONLY

Goldman Sachs Small CapValue Fund Class A

Asset Category: Small-Cap CoreFundsSymbol: GSSMX

FOR PREVIEW ONLY

Investment Objective: The investment seeks long-term capital appreciation. The fund normallyinvests at least 80% of its net assets plus any borrowings for investment purposes (measured attime of purchase) ("net assets") in a diversified portfolio of equity investments in small-cap issuerswith public stock market capitalizations within the range of the market capitalization of companiesconstituting the Russell 2000® Value Index at the time of investment. Although it will investprimarily in publicly traded U.S. securities, including real estate investment trusts, it may also investin foreign securities.2, 5, 6, 7, 8, 15, 16, 24, 25

FOR PREVIEW ONLY

Ivy High Income FundClass Y

Asset Category: High Yield FundsSymbol: WHIYX

FOR PREVIEW ONLY

Investment Objective: The investment seeks to provide total return through a combination of highcurrent income and capital appreciation. The fund invests primarily in a diversified portfolio of high-yield, high-risk, fixed-income securities, including secured and unsecured loan assignments, loanparticipations and other loan instruments (loans), of U.S. and foreign corporate issuers, the risks ofwhich are, in the judgment of the adviser consistent with the fund's objective. It may invest up to100% of its total assets in non-investment grade debt securities. The fund may invest in fixed-income securities of any maturity and in companies of any size.3, 5, 6, 7, 8, 14, 18, 20, 26, 27, 28, 29, 30, 31

FOR PREVIEW ONLY

Janus Triton Fund Class A

Asset Category: Small-Cap GrowthFundsSymbol: JGMAX

FOR PREVIEW ONLY

Investment Objective: The investment seeks long-term growth of capital. The fund pursues itsinvestment objective by investing primarily in common stocks selected for their growth potential. Inpursuing that objective, it invests in equity securities of small- and medium-sized companies.Generally, small- and medium-sized companies have a market capitalization of less than $10billion. Market capitalization is a commonly used measure of the size and value of a company. Thefund may also invest in foreign securities, which may include investments in emergingmarkets.2, 5, 7, 8, 15, 16, 22, 29, 32, 33

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John Hancock DisciplinedValue Mid Cap Fund Class A

Asset Category: Multi-Cap CoreFundsSymbol: JVMAX

FOR PREVIEW ONLY

Investment Objective: The investment seeks long-term growth of capital with current income as asecondary objective. Under normal circumstances, the fund seeks to achieve its investmentobjectives by investing at least 80% of its net assets (including borrowings for investment purposes)in a diversified portfolio consisting primarily of equity securities, such as common stocks, of issuerswith medium market capitalizations, and identified by the subadvisor as having valuecharacteristics. It may also invest up to 20% of its total assets in foreign currency-denominatedsecurities.2, 3, 4, 5, 7, 8, 14, 15, 19, 22, 31, 34, 35, 36, 37, 38

FOR PREVIEW ONLY

JPMorgan Government BondFund Class A

Asset Category: General U.S.Government FundsSymbol: OGGAX

FOR PREVIEW ONLY

Investment Objective: The investment seeks a high level of current income with liquidity and safetyof principal. The fund principally invests in securities issued by the U.S. government and itsagencies and instrumentalities and related to securities issued by the U.S. government and itsagencies and instrumentalities. It mainly invests in government bonds with intermediate to longremaining maturities. The fund's average weighted maturity will ordinarily range between three and15 years, taking into account expected prepayment of principal on certaininvestments.5, 6, 7, 8, 10, 18, 20, 25, 39, 40, 41, 42

FOR PREVIEW ONLY

Lord Abbett Income FundClass A

Asset Category: Corporate DebtFunds BBB-RatedSymbol: LAGVX

FOR PREVIEW ONLY

Investment Objective: The investment seeks a high level of income consistent with preservation ofcapital. Under normal conditions, the fund pursues its investment objective by investing at least65% of its net assets in investment grade debt (or fixed income) securities including Corporate debtsecurities of U.S. issuers; Corporate debt securities of non-U.S. (including emerging market) issuersthat are denominated in U.S. dollars; Mortgage-backed, mortgage-related and other asset-backedsecurities; Securities issued or guaranteed by the U.S. government, its agencies or government-sponsored enterprises; and Inflation-linked investments.1, 3, 5, 6, 7, 8, 10, 18, 20, 27, 31, 34, 39, 42, 43, 44, 45, 46

FOR PREVIEW ONLY

MFS International ValueFund Class A

Asset Category: International Multi-Cap GrowthSymbol: MGIAX

FOR PREVIEW ONLY

Investment Objective: The investment seeks capital appreciation. The fund normally invests itsassets primarily in foreign equity securities, including emerging market equity securities. Equitysecurities include common stocks and other securities that represent an ownership interest (or rightto acquire an ownership interest) in a company or other issuer. The advisor focuses on investing thefund's assets in the stocks of companies it believes are undervalued compared to their intrinsicvalue (value companies).2, 3, 5, 6, 7, 8, 10, 14, 18, 19, 31, 38, 44, 47, 48

FOR PREVIEW ONLY

MFS MassachusettsInvestors Growth StockFund Class A

Asset Category: Large-Cap GrowthFundsSymbol: MIGFX

FOR PREVIEW ONLY

Investment Objective: The investment seeks capital appreciation. The fund normally invests at least80% of the fund's net assets in stocks. Stocks include common stocks, preferred stocks, securitiesconvertible into stocks, and depositary receipts for such securities. It focuses on investing the fund'sassets in the stocks of companies it believes to have above average earnings growth potentialcompared to other companies (growth companies).2, 3, 5, 6, 7, 8, 14, 31, 32

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Morley Stable Value FundClass 55

Asset Category: Stable ValueSymbol: MORAT

FOR PREVIEW ONLY

Investment Objective: The Fund primarily consists of a diversified portfolio of Stable ValueInvestment Contracts (Investment Contracts) issued by life insurance companies, banks and otherfinancial institutions, the performance of which may be predicated on underlying fixed incomeinvestments. The principal value of these assets is designed to remain stable regardless of stockand bond market fluctuations. The Fund is typically appropriate for investors who desire lowvolatility, stable principal value, and returns commensurate with a capital preservation objective fora component of their retirement savings. The Fund is designed for long-term retirementinvesting.3, 5, 6, 7, 8, 10, 11, 12, 14, 18, 19, 20, 21, 22, 24, 25, 26, 28, 30, 31, 33, 36, 37, 39, 40, 41, 42, 44, 45, 46, 47, 49, 50, 51,

52, 53, 54, 55, 56, 57, 58, 59, 60, 61, 62, 63, 64, 65, 66, 67, 68, 69, 70, 71, 72

FOR PREVIEW ONLY

Oppenheimer DevelopingMarkets Fund Class A

Asset Category: Emerging MarketsFundsSymbol: ODMAX

FOR PREVIEW ONLY

Investment Objective: The investment seeks capital appreciation. The fund mainly invests incommon stocks of issuers in developing and emerging markets throughout the world and at times itmay invest up to 100% of its total assets in foreign securities. Under normal market conditions, itwill invest at least 80% of its net assets, plus borrowings for investment purposes, in equitysecurities of issuers whose principal activities are in a developing market, i.e. are in a developingmarket or are economically tied to a developing market country. The fund will invest in at least threedeveloping markets.2, 3, 5, 6, 7, 8, 15, 16, 32, 41, 73

FOR PREVIEW ONLY

Oppenheimer InternationalGrowth Fund Class A

Asset Category: International Multi-Cap GrowthSymbol: OIGAX

FOR PREVIEW ONLY

Investment Objective: The investment seeks capital appreciation. The fund mainly invests in thecommon stock of growth companies that are domiciled or have their primary operations outside ofthe United States. It may invest 100% of its assets in securities of foreign companies. The fund mayinvest in emerging markets as well as in developed markets throughout the world. It normally willinvest at least 65% of its total assets in common and preferred stocks of issuers in at least threedifferent countries outside of the United States, and emphasize investments in common stocks ofissuers that the portfolio managers consider to be "growth" companies.2, 3, 5, 6, 7, 8, 15, 16, 32, 41

FOR PREVIEW ONLY

PIMCO Commodity RealReturn Strategy FundClass A

Asset Category: CommoditiesGeneral FundsSymbol: PCRAX

FOR PREVIEW ONLY

Investment Objective: The investment seeks maximum real return, consistent with prudentinvestment management. The fund seeks to achieve its investment objective by investing undernormal circumstances in commodity-linked derivative instruments backed by a portfolio of inflation-indexed securities and other Fixed Income Instruments. "Fixed Income Instruments" include bonds,debt securities and other similar instruments issued by various U.S. and non-U.S. public- or private-sector entities. It will seek to gain exposure to the commodity markets primarily through investmentsin leveraged or unleveraged commodity index-linkednotes.2, 3, 5, 6, 7, 8, 10, 14, 17, 18, 19, 20, 21, 27, 31, 39, 40, 44, 45, 48, 65, 74, 75

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PIMCO Real Return BondFund Class A

Asset Category: Inflation ProtectedBond FundsSymbol: PRTNX

FOR PREVIEW ONLY

Investment Objective: The investment seeks maximum real return, consistent with preservation ofcapital and prudent investment management. The fund normally invests at least 80% of its netassets in inflation-indexed bonds of varying maturities issued by the U.S. and non-U.S.governments, their agencies or instrumentalities, and corporations, which may be represented byforwards or derivatives such as options, futures contracts or swap agreements. It invests primarily ininvestment grade securities, but may invest up to 10% of its total assets in high yield securities("junk bonds") rated B or higher.2, 3, 5, 6, 7, 8, 10, 14, 18, 19, 20, 27, 31, 39, 40, 44, 48, 65, 74

FOR PREVIEW ONLY

PIMCORealEstateRealReturnStrategy Fund Class A

Asset Category: Real Estate FundsSymbol: PETAX

FOR PREVIEW ONLY

Investment Objective: The investment seeks maximum real return consistent with prudentinvestment management. The fund seeks to achieve its investment objective by investing in realestate-linked derivative instruments backed by a portfolio of inflation-indexed securities and otherFixed Income Instruments. "Fixed Income Instruments" include bonds, debt securities and othersimilar instruments issued by various U.S. and non-U.S. public- or private-sector entities. It mayinvest up to 30% of its total assets in securities denominated in foreign currencies and may investbeyond this limit in U.S. dollar denominated securities of foreignissuers.2, 3, 5, 6, 7, 8, 10, 14, 18, 19, 20, 24, 27, 31, 39, 40, 44, 45, 48, 65, 74

FOR PREVIEW ONLY

Prudential Jennison MidCap Growth Fund Class A

Asset Category: Mid-Cap GrowthFundsSymbol: PEEAX

FOR PREVIEW ONLY

Investment Objective: The investment seeks long-term capital appreciation. The fund normallyinvests at least 80% of its investable assets in equity and equity-related securities of medium-sizedcompanies with the potential for above-average growth. In deciding which equities to buy, it useswhat is known as a growth investment style. The fund's investable assets will be less than its totalassets to the extent that it has borrowed money for non-investment purposes, such as to meetanticipated redemptions.2, 5, 6, 7, 8, 15, 32, 76

FOR PREVIEW ONLY

The Hartford InternationalOpportunities FundClass R4

Asset Category: International Multi-Cap GrowthSymbol: IHOSX

FOR PREVIEW ONLY

Investment Objective: The investment seeks long-term growth of capital. The fund normally investsat least 65% of its net assets in stocks issued by non-U.S. companies that trade in foreign marketsthat are generally considered to be well established. It may invest up to the greater of 25% or theweight of emerging markets in the MSCI All Country World ex USA Index ("MSCI AC World ex USAIndex") plus 10% of its net assets in companies domiciled in emerging markets.3, 5, 6, 7, 8, 15, 34, 44

The asset categories listed above are based on Lipper classifications.

Important Risk Disclosures1 Convertible Securities Risk: Investments in convertible securities may be subject to increased

interest-rate risks, rising in value as interest rates decline and falling in value when interest ratesrise, in addition to their market value depending on the performance of the common stock of theissuer. Convertible securities, which are typically unrated or rated lower than other debt obligations,are secondary to debt obligations in order of priority during a liquidation in the event theissuer defaults.

2 Equity Securities Risk: The value of equity securities, which include common, preferred, andconvertible preferred stocks, will fluctuate based on changes in their issuers' financial conditions,

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as well as overall market and economic conditions, and can decline in the event of deterioratingissuer, market, or economic conditions.

3 Foreign Securities Risk: Investments in foreign securities may be subject to increased volatility asthe value of these securities can change more rapidly and extremely than can the value of U.S.securities. Foreign securities are subject to increased issuer risk because foreign issuers may notexperience the same degree of regulation as U.S. issuers do and are held to different reporting,accounting, and auditing standards. In addition, foreign securities are subject to increased costsbecause there are generally higher commission rates on transactions, transfer taxes, highercustodial costs, and the potential for foreign tax charges on dividend and interest payments. Manyforeign markets are relatively small, and securities issued in less-developed countries face the risksof nationalization, expropriation or confiscatory taxation, and adverse changes in investment orexchange control regulations, including suspension of the ability to transfer currency from a country.Economic, political, social, or diplomatic developments can also negatively impact performance.

4 Industry and Sector Investing Risk: Concentrating assets in a particular industry, sector of theeconomy, or markets may increase volatility because the investment will be more susceptible to theimpact of market, economic, regulatory, and other factors affecting that industry or sectorcompared with a more broadly diversified asset allocation.

5 Loss of Money Risk: Because the investment's market value may fluctuate up and down, aninvestor may lose money, including part of the principal, when he or she buys or sellsthe investment.

6 Management Risk: Performance is subject to the risk that the advisor's asset allocation andinvestment strategies do not perform as expected, which may cause the portfolio to underperformits benchmark, other investments with similar objectives, or the market in general. The investment issubject to the risk of loss of income and capital invested, and the advisor does not guarantee itsvalue, performance, or any particular rate of return.

7 Market/Market Volatility Risk: The market value of the portfolio's securities may fall rapidly orunpredictably because of changing economic, political, or market conditions, which may reduce thevalue of the portfolio.

8 Not FDIC Insured Risk: The investment is not a deposit or obligation of, or guaranteed or endorsedby, any bank and is not insured by the Federal Deposit Insurance Corporation, the Federal ReserveBoard, or any other U.S. governmental agency.

9 Preferred Stocks Risk: Investments in preferred stocks may be subject to the risks of deferreddistribution payments, involuntary redemptions, subordination to debt instruments, a lack ofliquidity compared with common stocks, limited voting rights, and sensitivity tointerest-rate changes.

10 Derivatives Risk: Investments in derivatives may be subject to the risk that the advisor does notcorrectly predict the movement of the underlying security, interest rate, market index, or otherfinancial asset, or that the value of the derivative does not correlate perfectly with either the overallmarket or the underlying asset from which the derivative's value is derived. Because derivativesusually involve a small investment relative to the magnitude of liquidity and other risks assumed,the resulting gain or loss from the transaction will be disproportionately magnified. Theseinvestments may result in a loss if the counterparty to the transaction does not performas promised.

11 Financials Sector Risk: Concentrating assets in the financials sector may disproportionatelysubject the portfolio to the risks of that industry, including loss of value because of economicrecession, availability of credit, volatile interest rates, government regulation, and other factors.

12 Futures Risk: Investments in futures contracts and options on futures contracts may increasevolatility and be subject to additional market, active management, interest, currency, and otherrisks if the contract cannot be closed when desired.

13 Index Correlation/Tracking Error Risk: A portfolio that tracks an index is subject to the risk thatcertain factors may cause the portfolio to track its target index less closely, including if the advisorselects securities that are not fully representative of the index. The portfolio will generally reflect the

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performance of its target index even if the index does not perform well, and it may underperformthe index after factoring in fees, expenses, transaction costs, and the size and timing of shareholderpurchases and redemptions.

14 Issuer Risk: A stake in any individual security is subject to the risk that the issuer of that securityperforms poorly, resulting in a decline in the security's value. Issuer-related declines may becaused by poor management decisions, competitive pressures, technological breakthroughs,reliance on suppliers, labor problems or shortages, corporate restructurings, fraudulent disclosures,or other factors. Additionally, certain issuers may be more sensitive to adverse issuer, political,regulatory, market, or economic developments.

15 Mid-Cap Risk: Concentrating assets in mid-capitalization stocks may subject the portfolio to therisk that those stocks underperform other capitalizations or the market as a whole. Mid-capcompanies may be subject to increased liquidity risk compared with large-cap companies and mayexperience greater price volatility than do those securities because of more-limited product lines orfinancial resources, among other factors.

16 Small Cap Risk: Concentrating assets in small-capitalization stocks may subject the portfolio tothe risk that those stocks underperform other capitalizations or the market as a whole. Smaller,less-seasoned companies may be subject to increased liquidity risk compared with mid- and large-cap companies and may experience greater price volatility than do those securities because oflimited product lines, management experience, market share, or financial resources, amongother factors.

17 Commodity Risk: Investments in commodity-related instruments are subject to the risk that theperformance of the overall commodities market declines and that weather, disease, political, tax,and other regulatory developments adversely impact the value of commodities, which may result ina loss of principal and interest. Commodity-linked investments face increased price volatility andliquidity, credit, and issuer risks compared with their underlying measures.

18 Credit and Counterparty Risk: The issuer or guarantor of a fixed-income security, counterparty toan OTC derivatives contract, or other borrower may not be able to make timely principal, interest, orsettlement payments on an obligation. In this event, the issuer of a fixed-income security may haveits credit rating downgraded or defaulted, which may reduce the potential for income and value ofthe portfolio. As a special note on bond funds, return of principal is not guaranteed and there areongoing fees and expenses associated with owning shares of bond funds. The market value of bondfunds tends to rise when prevailing interest rates fall and falls when interest rates rise.

19 Currency Risk: Investments in securities traded in foreign currencies or more directly in foreigncurrencies are subject to the risk that the foreign currency will decline in value relative to the U.S.dollar, which may reduce the value of the portfolio. Investments in currency hedging positions aresubject to the risk that the value of the U.S. dollar will decline relative to the currency beinghedged, which may result in a loss of money on the investment as well as the position designed toact as a hedge. Cross-currency hedging strategies and active currency positions may increasecurrency risk because actual currency exposure may be substantially different from that suggestedby the portfolio's holdings.

20 Interest Rate Risk: Most securities are subject to the risk that changes in interest rates will reducetheir market value.

21 Underlying Fund/Fund of Funds Risk: A portfolio's risks are closely associated with the risks ofthe securities and other investments held by the underlying or subsidiary funds, and the ability ofthe portfolio to meet its investment objective likewise depends on the ability of the underlying fundsto meet their objectives. Investment in other funds may subject the portfolio to higher costs thanowning the underlying securities directly because of their management fees. . A pro rata share ofany expenses incurred by the Underlying Funds is indirectly born by the shareholder of the Fund.

22 Active Management Risk: The investment is actively managed and subject to the risk that theadvisor's usage of investment techniques and risk analyses to make investment decisions fails toperform as expected, which may cause the portfolio to lose value or underperform investments withsimilar objectives and strategies or the market in general.

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23 Portfolio Diversification Risk: Investments that concentrate their assets in a relatively smallnumber of issuers, or in the securities of issuers in a particular market, industry, sector, country, orasset class, may be subject to greater risk of loss than is a more widely diversified investment.

24 Real Estate/REIT Sector Risk: Concentrating assets in the real estate sector or REITs maydisproportionately subject the portfolio to the risks of that industry, including loss of value becauseof changes in real estate values, interest rates, and taxes, as well as changes in zoning, building,environmental, and other laws, among other factors. Investments in REITs may be subject toincreased price volatility and liquidity risk, and shareholders indirectly bear their proportionateshare of expenses because of their management fees.

25 Shareholder Activity Risk: Frequent purchases or redemptions by one or multiple investors mayharm other shareholders by interfering with the efficient management of the portfolio, increasingbrokerage and administrative costs and potentially diluting the value of shares. Additionally,shareholder purchase and redemption activity may have an impact on the per-share net incomeand realized capital gains distribution amounts, if any, potentially increasing or reducing the taxburden on the shareholders who receive those distributions.

26 Extension Risk: The issuer of a security may repay principal more slowly than expected becauseof rising interest rates. In this event, short- and medium-duration securities are effectively convertedinto longer-duration securities, increasing their sensitivity to interest-rate changes and causing theirprices to decline. As a special note on bond funds, return of principal is not guaranteed and thereare ongoing fees and expenses associated with owning shares of bond funds. The market value ofbond funds tends to rise when prevailing interest rates fall and falls when interest rates rise.

27 High-Yield Securities Risk: Investments in below-investment-grade debt securities and unratedsecurities of similar credit quality, commonly known as "junk bonds" or "high-yield securities," maybe subject to increased interest, credit, and liquidity risks. As a special note on bond funds, returnof principal is not guaranteed and there are ongoing fees and expenses associated with owningshares of bond funds. The market value of bond funds tends to rise when prevailing interest ratesfall and falls when interest rates rise.

28 Income Risk: The investment's income payments may decline depending on fluctuations ininterest rates and the dividend payments of its underlying securities. In this event, someinvestments may attempt to pay the same dividend amount by returning capital.

29 Lending Risk: Investing in loans creates risk for the borrower, lender, and any other participants.A borrower may fail to make payments of principal, interest, and other amounts in connection withloans of cash or securities or fail to return a borrowed security in a timely manner, which may leadto impairment of the collateral provided by the borrower. Investments in loan participations may besubject to increased credit, pricing, and liquidity risks, with these risks intensified for belowinvestment-grade loans.

30 Reinvestment Risk: Payments from debt securities may have to be reinvested in securities withlower interest rates than the original securities. As a special note on bond funds, return of principalis not guaranteed and there are ongoing fees and expenses associated with owning shares of bondfunds. The market value of bond funds tends to rise when prevailing interest rates fall and fallswhen interest rates rise.

31 Restricted/Illiquid Securities Risk: Restricted and illiquid securities may fall in price because ofan inability to sell the securities when desired. Investing in restricted securities may subject theportfolio to higher costs and liquidity risk.

32 Growth Investing Risk: Growth securities may be subject to increased volatility as the value ofthese securities is highly sensitive to market fluctuations and future earnings expectations. Thesesecurities typically trade at higher multiples of current earnings than do other securities and maylose value if it appears their earnings expectations may not be met.

33 Long-Term Outlook and Projections Risk: The investment is intended to be held for a substantialperiod of time, and investors should tolerate fluctuations in their investment's value.

34 High Portfolio Turnover Risk: Active trading may create high portfolio turnover, or a turnover of100% or more, resulting in increased transaction costs. These higher costs may have an adverse

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impact on performance and generate short-term capital gains, creating potential tax liability even ifan investor does not sell any shares during the year.

35 Initial Public Offerings Risk: Investing in initial public offerings may increase volatility and have amagnified impact on performance. IPO shares may be sold shortly after purchase, which canincrease portfolio turnover and expenses, including commissions and transaction costs.Additionally, IPO shares are subject to increased market, liquidity, and issuer risks.

36 Other Risk: The investment's performance may be impacted by its concentration in a certain typeof security, adherence to a particular investing strategy, or a unique aspect of its structureand costs.

37 Regulation/Government Intervention Risk: The business of the issuer of an underlying securitymay be adversely impacted by new regulation or government intervention, impacting the price ofthe security. Direct government ownership of distressed assets in times of economic instability maysubject the portfolio's holdings to increased price volatility and liquidity risk.

38 Value Investing Risk: Value securities may be subject to the risk that these securities cannotovercome the adverse factors the advisor believes are responsible for their low price or that themarket may not recognize their fundamental value as the advisor predicted. Value securities are notexpected to experience significant earnings growth and may underperform growth stocks incertain markets.

39 Mortgage-Backed and Asset-Backed Securities Risk: Investments in mortgage-backed and asset-backed securities may be subject to increased price volatility because of changes in interest rates,issuer information availability, credit quality of the underlying assets, market perception of theissuer, availability of credit enhancement, and prepayment of principal. The value of ABS and MBSmay be adversely affected if the underlying borrower fails to pay the loan included in the security.

40 Prepayment (Call) Risk: The issuer of a debt security may be able to repay principal prior to thesecurity's maturity because of an improvement in its credit quality or falling interest rates. In thisevent, this principal may have to be reinvested in securities with lower interest rates than theoriginal securities, reducing the potential for income. As a special note on bond funds, return ofprincipal is not guaranteed and there are ongoing fees and expenses associated with owningshares of bond funds. The market value of bond funds tends to rise when prevailing interest ratesfall and falls when interest rates rise.

41 Suitability Risk: Investors are expected to select investments whose investment strategies areconsistent with their financial goals and risk tolerance.

42 U.S. Government Obligations Risk: Investments in U.S. government obligations are subject tovarying levels of government support. In the event of default, some U.S. government securities,including U.S. Treasury obligations and Ginnie Mae securities, are issued and guaranteed as toprincipal and interest by the full faith and credit of the U.S. government. Other securities areobligations of U.S. government-sponsored entities but are neither issued nor guaranteed by theU.S. government.

43 Bank Loans Risk: Investments in bank loans, also known as senior loans or floating-rate loans,are rated below-investment grade and may be subject to a greater risk of default than areinvestment-grade loans, reducing the potential for income and potentially leading to impairment ofthe collateral provided by the borrower. Bank loans pay interest at rates that are periodically resetbased on changes in interest rates and may be subject to increased prepayment and liquidity risks.

44 Emerging Markets Risk: Investments in emerging- and frontier-markets securities may be subjectto greater market, credit, currency, liquidity, legal, political, and other risks compared with assetsinvested in developed foreign countries.

45 Fixed-Income Securities Risk: The value of fixed-income or debt securities may be susceptible togeneral movements in the bond market and are subject to interest-rate and credit risk. As aspecial note on bond funds, return of principal is not guaranteed and there are ongoing fees andexpenses associated with owning shares of bond funds. The market value of bond funds tends torise when prevailing interest rates fall and falls when interest rates rise.

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46 Inflation-Protected Securities Risk: Unlike other fixed-income securities, the values of inflation-protected securities are not significantly impacted by inflation expectations because their interestrates are adjusted for inflation. Generally, the value of inflation-protected securities will fall whenreal interest rates rise and rise when real interest rates fall. As a special note on bond funds, returnof principal is not guaranteed and there are ongoing fees and expenses associated with owningshares of bond funds. The market value of bond funds tends to rise when prevailing interest ratesfall and falls when interest rates rise.

47 Country or Region Risk: Investments in securities from a particular country or region may besubject to the risk of adverse social, political, regulatory, or economic events occurring in thatcountry or region. Country- or region-specific risks also include the risk that adverse securitiesmarkets or exchange rates may impact the value of securities from those areas.

48 Leverage Risk: Leverage transactions may increase volatility and result in a significant loss ofvalue if a transaction fails. Because leverage usually involves investment exposure that exceeds theinitial investment, the resulting gain or loss from a relatively small change in an underlying indicatorwill be disproportionately magnified.

49 Cash Drag Risk: The portfolio may fail to meet its investment objective because of positions incash and equivalents.

50 Conflict of Interest Risk: A conflict of interest may arise if the advisor makes an investment incertain underlying funds based on the fact that those funds are also managed by the advisor or anaffiliate or because certain underlying funds may pay higher fees to the advisor do than others. Inaddition, an advisor's participation in the primary or secondary market for loans may be deemed aconflict of interest and limit the ability of the investment to acquire those assets.

51 Credit Default Swaps Risk: Credit default swaps insure the buyer in the event of a default of afixed-income security. The seller of a credit default swap receives premiums and is obligated torepay the buyer in the event of a default of the underlying creditor. Investments in credit defaultswaps may be subject to increased counterparty, credit, and liquidity risks.

52 Dollar Rolls Risk: Dollar rolls transactions may be subject to the risk that the market value ofsecurities sold to the counterparty declines below the repurchase price, the counterparty defaultson its obligations, or the portfolio turnover rate increases because of these transactions. Inaddition, any investments purchased with the proceeds of a security sold in a dollar rollstransaction may lose value.

53 Early Close/Late Close/Trading Halt Risk: The investment may be unable to rebalance itsportfolio or accurately price its holdings if an exchange or market closes early, closes late, or issuestrading halts on specific securities or restricts the ability to buy or sell certain securities or financialinstruments. Any of these scenarios may cause the investment to incur substantial trading losses.

54 Hedging Strategies Risk: The advisor's use of hedging strategies to reduce risk may limit theopportunity for gains compared with unhedged investments, and there is no guarantee that hedgeswill actually reduce risk.

55 Investment-Grade Securities Risk: Investments in investment-grade debt securities that are notrated in the highest rating categories may lack the capacity to pay principal and interest comparedwith higher-rated securities and may be subject to increased credit risk. As a special note on bondfunds, return of principal is not guaranteed and there are ongoing fees and expenses associatedwith owning shares of bond funds. The market value of bond funds tends to rise when prevailinginterest rates fall and falls when interest rates rise.

56 Maturity/Duration Risk: Securities with longer maturities or durations typically have higher yieldsbut may be subject to increased interest-rate risk and price volatility compared with securities withshorter maturities, which have lower yields but greater price stability.

57 Money Market Fund Risk: Money market funds are subject to the risk that they may not be ableto maintain a stable net asset value of $1.00 per share. Investments in money market funds arenot a deposit in a bank and are not guaranteed by the FDIC, any other governmental agency, or theadvisor itself.

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58 Multimanager Risk: Managers' individual investing styles may not complement each other. Thiscan result in both higher portfolio turnover and enhanced or reduced concentration in a particularregion, country, industry, or investing style compared with an investment with a single manager.

59 Municipal Obligations, Leases, and AMT-Subject Bonds Risk: Investments in municipalobligations, leases, and private activity bonds subject to the alternative minimum tax have varyinglevels of public and private support. The principal and interest payments of general-obligationmunicipal bonds are secured by the issuer's full faith and credit and supported by limited orunlimited taxing power. The principal and interest payments of revenue bonds are tied to therevenues of specific projects or other entities. Federal income tax laws may limit the types andvolume of bonds qualifying for tax exemption of interest and make any further purchases of tax-exempt securities taxable. As a special note on bond funds, return of principal is not guaranteedand there are ongoing fees and expenses associated with owning shares of bond funds. The marketvalue of bond funds tends to rise when prevailing interest rates fall and falls when interestrates rise.

60 Municipal Project-Specific Risk: Investments in municipal bonds that finance similar types ofprojects, including those related to education, health care, housing, transportation, utilities, andindustry, may be subject to a greater extent than general obligation municipal bonds to the risks ofadverse economic, business, or political developments.

61 Options Risk: Investments in options may be subject to the risk that the advisor does notcorrectly predict the movement of an option's underlying stock. Option purchases may result in theloss of part or all of the amount paid for the option plus commission costs. Option sales may resultin a forced sale or purchase of a security at a price higher or lower than its current market price.

62 Passive Management Risk: The investment is not actively managed, and the advisor does notattempt to manage volatility or take defensive positions in declining markets. This passivemanagement strategy may subject the investment to greater losses during general market declinesthan actively managed investments.

63 Pricing Risk: Some investments may not have a market observed price; therefore, values forthese assets may be determined through a subjective valuation methodology. Fair valuesdetermined by a subjective methodology may differ from the actual value realized upon sale.Valuation methodologies may also be used to calculate a daily net asset value.

64 Repurchase Agreements Risk: Repurchase agreements may be subject to the risk that the sellerof a security defaults and the collateral securing the repurchase agreement has declined and doesnot equal the value of the repurchase price. In this event, impairment of the collateral may result inadditional costs.

65 Sovereign Debt Risk: Investments in debt securities issued or guaranteed by governments orgovernmental entities are subject to the risk that an entity may delay or refuse to pay interest orprincipal on its sovereign debt because of cash flow problems, insufficient foreign reserves, orpolitical or other considerations. In this event, there may be no legal process for collectingsovereign debts that a governmental entity has not repaid.

66 Structured Products Risk: Investments in structured products may be more volatile, less liquid,and more difficult to price than other assets. These securities bear the risk of the underlyinginvestment as well as counterparty risk. Securitized structured products including CMOs, CDOs, andother securitized products may increase volatility and be subject to increased liquidity and pricingrisks compared with investing directly in the assets securitized within the product. Assets investedin structured products may be subject to full loss of value if the counterparty defaults onits obligation.

67 Swaps Risk: Investments in swaps, such as interest-rate swaps, currency swaps and total returnswaps, may increase volatility and be subject to increased liquidity, credit, and counterparty risks.Depending on their structure, swaps may increase or decrease the portfolio's exposure to long- orshort-term interest rates, foreign currency values, corporate borrowing rates, security prices, indexvalues, inflation rates, credit, or other factors.

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68 Tax-Exempt Securities Risk: Tax-exempt securities could be reclassified as taxable by the IRS or astate tax authority, or their income could be reclassified as taxable by a future legislative,administrative, or court action. This may result in increased tax liability as interest from a securitybecomes taxable, and such reclassifications could be applied retroactively.

69 Temporary Defensive Measures Risk: Temporary defensive positions may be used during adverseeconomic, market, or other conditions. In this event, up to 100% of assets may be allocated tosecurities, including cash and cash equivalents that are normally not consistent with theinvestment objective.

70 U.S. State or Territory-Specific Risk: Investments in the municipal securities of a particular stateor territory may be subject to the risk that changes in the economic conditions of that state orterritory will negatively impact performance.

71 Variable-Rate Securities Risk: Investments in variable-rate securities, which periodically adjustthe interest-rate paid on the securities, may be subject to greater liquidity risk than are other fixed-income securities. Because variable-rate securities are subject to less interest-rate risk than otherfixed-income securities, their opportunity to provide capital appreciation is comparatively reduced.

72 Zero-Coupon Bond Risk: Investments in zero-coupon bonds, which do not pay interest prior tomaturity, may be subject to greater price volatility and liquidity risks than are fixed-incomesecurities that pay interest periodically. Still, interest accrued on these securities prior to maturity isreported as income and distributed to shareholders.

73 China Region Risk: Investing in the China region, including Hong Kong, the People's Republic ofChina, and Taiwan, may be subject to greater volatility because of the social, regulatory, andpolitical risks of that region, as well as the Chinese government's significant level of control overChina's economy and currency. A disruption of relations between China and its neighbors or tradingpartners could severely impact China's export-based economy.

74 Short Sale Risk: Selling securities short may be subject to the risk that an advisor does notcorrectly predict the movement of the security, resulting in a loss if a security must be purchasedon the market above its initial borrowing price to return to the lender, in addition to interest paid tothe lender for borrowing the security.

75 U.S. Federal Tax Treatment Risk: Changes in the tax treatment of dividends, derivatives, foreigntransactions, and other securities may have an impact on performance and potentially increaseshareholder liability. Additionally, this includes the risk that the fund fails to qualify as a regulatedinvestment company, potentially resulting in a significantly higher level of taxation.

76 Increase in Expenses Risk: The actual cost of investing may be higher than the expenses listed inthe expense table for a variety of reasons, including termination of a voluntary fee waiver or losingportfolio fee breakpoints if average net assets decrease. The risk of expenses increasing because ofa decrease in average net assets is heightened when markets are volatile.

Investors should consider the investment objectives, risks, charges andexpenses of investment options carefully before investing. This, and additionalinformation about the investment options, can be found in the prospectuses and,if available, the summary prospectuses, which can be obtained on BenefitsOnLine at www.benefits.ml.com, or by calling the Retirement & Benefits ContactCenter. Investors should read the prospectuses and, if available, the summaryprospectuses carefully before investing.

The following copyright information refers to the Fund Descriptions and Risks. (Please note that theRisks for non-registered investment vehicles are not assigned by Morningstar.)

©2014 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietaryto Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is notwarranted to be accurate, complete or timely. Neither Morningstar nor its content providers areresponsible for any damages or losses arising from any use of this information.

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Plan FeaturesEligibility and EnrollmentYou are eligible to participate in the Gerber Collision & Glass 401(k) Plan if you are at least 20 years old andhave completed 3 months of service within a consecutive twelve-month period.

The following are not eligible to participate in the Plan:■ Non-resident aliens■ Employees of an affiliate of the plan sponsor that is not a participating employer■ Employees covered under a collective bargaining agreement

You must enroll to participate in the Plan.

Employee ContributionsYou may contribute up to 100% of your eligible compensation through regular payroll deductions in anycombination of pre-tax and Roth 401(k) contributions.

Your combined pre-tax and Roth 401(k) contributions cannot exceed the IRS limit of $18,000 for 2015 or theannual Plan limit of 100% of compensation, whichever is less.

If you are age 50 or older during the calendar year and contribute the IRS or Plan maximum, you may beeligible to make an additional “catch-up contribution” of up to $6,000 for 2015, on a pre-tax or Roth 401(k)basis.

You may change your contribution rate monthly.

Employee contributions will begin on the first day of the month after enrollment.

Savers Tax CreditIf you earn up to $30,500 a year in 2015 ($45,750 for heads of household and $61,000 if married, filingjointly), you may be eligible for a tax credit of 10% to 50% of each $1 you contribute on a pre-tax or Roth401(k) basis, up to the first $2,000 you put into the Plan (Source: IRS. IR-2014-99, Oct. 23, 2014).

Employer ContributionsThe Boyd Group US, Inc. may match all or a portion of your pre-tax and Roth 401(k) contributions to the Plan.Because these contributions are discretionary, they may vary from year to year.

The Boyd Group US, Inc. may also make a discretionary profit sharing contribution. Because thesecontributions are discretionary, they may vary from year to year.

You will be eligible to receive employer contributions on the first day of the month after enrollment.

Note that employer contributions will apply to all eligible employees who worked 1,000 hours during thePlan year.

Employer contributions plus employee contributions cannot exceed the 2015 IRS limit of 100% of employeecompensation or $53,000, whichever is less.

RolloversYou may make rollover contributions from other plans into this one, as follows:■ Pre-tax contributions from a previous employer’s 401(k) Plan.■ Pre-tax contributions from a 403(b) tax-deferred arrangement.■ Pre-tax contributions from a government 457 plan.■ Pre-tax contributions from a Rollover IRA (consists solely of assets originally contributed directly to a

qualified plan).■ Contributions from a Contributory IRA (contains any assets that were contributed directly to an IRA).

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■ Pre-tax contributions from a Simplified Employee Pension (SEP) Plan.■ Roth 401(k) contributions that are directly rolled over and Roth 401(k) earnings that are indirectly rolled over

from another qualified plan. Please consider the advantages and disadvantages of a rollover carefully.

VestingVesting is your right to all or a portion of your account balance. You are always 100% vested in your employeecontributions and any rollover contributions, adjusted for earnings or losses.

Employer contributions to the Plan, adjusted for earnings or losses, vest as follows:

Employer Contributions

Years of Service 1 year 2 years 3 years 4 years 5 years 6 years

Percent Vested 0% 20% 40% 60% 80% 100%

Investment DirectionYou choose how to invest your money among the Plan’s investment options, which The Boyd Group US,Inc. selects.

If you do not make an investment selection at enrollment, contributions will be invested in the GoalManager®Moderate Portfolio Model.*

*Please see the Investment Objectives included earlier in this booklet regarding your investment options.

Your Plan offers the following to aid you in making investment decisions:■ Advice Access■ GoalManager® Portfolio Rebalancing Service

Please see the Special Plan Offerings section of this booklet for more information.

Making Investment ChangesYou may change the way your future contributions will be invested as frequently as once daily. You may alsotransfer your accumulated balances from one investment option to another once daily (subject to certainrestrictions that may exist; please see your Summary Plan Description). To make investment changes, go toBenefits OnLine® at www.benefits.ml.com, or call the Retirement & Benefits Contact Center at(800) 228-4015. For details on how to access your account, see the inside back cover of this booklet.

The Importance of Diversifying Your Retirement AccountWhen investing in your plan, carefully consider the benefits of a well-balanced and diversified investmentportfolio. Spreading your assets among different types of investments may help you achieve a favorable rateof return while minimizing your overall risk of losing money. This is because market or other economicconditions that cause one asset category or particular security to perform well often cause another assetcategory or particular security to perform poorly.

If you invest more than 20% of your retirement assets in any one company or industry, you may not beproperly diversified. Although diversification is not a guarantee against loss, it can be an effective strategy tohelp manage investment risk.

You should take into account all of your assets, including any retirement savings outside of the Plan, whendeciding how to invest your Plan assets. No single approach is right for everyone because, among otherfactors, individuals have different financial goals, different time horizons for meeting those goals, anddifferent tolerances for risk.

It is also important to periodically review your portfolio, your investment objectives, and the Plan’s investmentoptions to help ensure you are on track to meet your retirement goals.

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LoansWhen considering a loan, please review both the advantages and disadvantages of doing so. Although yourPlan is intended primarily to help you accumulate assets for your retirement, you may generally borrow againstyour vested Plan account balance, within certain limitations.

You may have 1 loan(s) outstanding at a time. A non-refundable, one-time loan set-up fee of $75 will apply toeach loan you take.

You repay any loans plus interest back to your Plan account. You can repay each loan by payroll deductionover a 60-month period. Loans taken to purchase your principal residence can be repaid over a period of60 months.

In-Service WithdrawalsThe Plan is intended to help you accumulate assets for retirement, but you may withdraw funds prior to yourseparation from service under certain circumstances.

Hardship WithdrawalsIf you experience an extreme financial hardship, you may withdraw funds while still employed. A hardship, asdefined by the IRS, can include:■ buying a primary residence■ paying for tuition and related fees up to one year of post-secondary education for yourself, your spouse or

your dependents■ paying for burial or funeral expenses for your spouse or your dependents■ paying certain medical expenses for yourself, your spouse or your dependents■ paying expenses for the repair of casualty-type damages to your principal residence■ preventing eviction from or foreclosure on your primary residence

Your contributions to the Plan must be suspended for a period of at least 6 months, following receipt of ahardship withdrawal.

Other Allowed WithdrawalsYou may withdraw your rollover contributions, adjusted for earnings or losses, at any time. Note that thesewithdrawals could result in a 10% additional federal tax if made before age 59½.

Once you reach age 59½ you may make withdrawals without incurring the additional federal tax, however, youshould consult an advisor before doing so, as you would lose the tax-deferral benefits on the monieswithdrawn from the Plan.

Distributions After Separation from ServiceGenerally, you or your beneficiary may receive a distribution of your vested account balance following yourseparation from service. You have choices for what to do with your 401(k) or other type of plan-sponsoredaccount. Depending on your financial circumstances, needs and goals, you may choose to roll over to an IRAor convert to a Roth IRA, roll over a 401(k) from a prior employer to a 401(k) at a new employer, take adistribution, or leave the account where it is. Each choice may offer different investment options and services,fees and expenses, withdrawal options, required minimum distributions, tax treatment, and provide differentprotection from creditors and legal judgments. These are complex choices and should be consideredwith care.

You are required to begin taking minimum distributions from the Plan by the later of April 1 of the yearfollowing the year in which you reach age 70 ½ or the calendar year in which you terminate employment.

TaxesTaxes are due upon withdrawal for all contributions and related earnings except Roth 401(k) contributions andrelated earnings, provided you make a qualified withdrawal. Your withdrawal is considered qualified if yourRoth 401(k) contributions have remained in your account for at least five consecutive years, beginning withthe initial Roth 401(k) contribution, and you are at least age 59½ (also applies to death and disability).

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If you take a withdrawal from your pre-tax account prior to age 59½, in addition to paying regular income tax,you may be subject to a 10% additional federal tax. If you make a non-qualified withdrawal from your Roth401(k) account, any investment earnings will be subject to regular income tax, plus a 10% additional federaltax before age 59½.

Managing Your AccountYou will receive a quarterly account statement. The statement shows your account balance as well as anycontributions and investment gains or losses credited to your account during the reporting period. For yourconvenience, account statements and confirmations are always available online. In addition, you may selectOnline Delivery to eliminate hardcopy mailings of your statements and other documents. With Online Delivery,you will receive an e-mail, with a link to Benefits OnLine, whenever a new statement or other document isavailable. Log in to Benefits OnLine at www.benefits.ml.com to choose Online Delivery. For details on how toaccess your account via Benefits OnLine®, see the inside back cover of this booklet.

ERISA Section 404(c) DisclosureThe Plan is intended to meet the requirements of Section 404(c) of the Employee Retirement Income SecurityAct of 1974, as amended (“ERISA”) and section 2550.404(c)-1 of Title 29 of the Code of Federal Regulations.Fiduciaries of the Plan may be relieved of liability for any losses resulting from investment instructions givenby participants or beneficiaries.

The information you may request from the Plan Fiduciary or its designee includes: copies of prospectuses,financial statements and reports, and other materials related to the Plan’s investment options; a list ofassets contained in each Plan investment option; the value of those assets and fund units or shares; and thepast and current performance of each Plan investment option. You may find the number of shares and valueof assets held in your account on your account statement or you may obtain them from Benefits OnLine atwww.benefits.ml.com or by calling the Retirement & Benefits Contact Center at (800) 228-4015.

This material is only a general outline of the Plan. You are encouraged to read the Summary Plan Descriptionto obtain more detailed information regarding the Plan’s operation. This document gives you information youneed to make educated decisions about joining the Plan and maintaining a Plan account. If a provisiondescribed in this outline differs from the applicable provision of the Plan documents, the Plandocuments prevail.

Investors should consider the investment objectives, risks, charges and expenses of investment optionscarefully before investing. This, and additional information about the investment options, can be found in theprospectuses and, if available, the summary prospectuses, which can be obtained on Benefits OnLine atwww.benefits.ml.com or by calling the Retirement & Benefits Contact Center at (800) 228-4015. Investorsshould read the prospectuses and, if available, the summary prospectuses carefully before investing.

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Step 1

What is my risk tolerance?

Circle your response to each of the following four questions. The higher your total score, the more comfortable you may be with investment risk.

A. Which statement best describes your willingness to accept investment risk?

1. I can accept only a very small decline in the value of my investments, even if it means my returns will be relatively low. __________ 1 point

2. I can accept occasional losses if my money is in sound investments that could be expected to grow over time. _________________ 5 points

3. I can accept substantial short-term losses if it means I might benefit from higher gains over time. ___________________ 9 points

B. How important is it for your investments to keep up with inflation (the general rise in the cost of living)?

1. My investments should be safe, even if it means my returns do not keep up with the cost of living. ___________________ 1 point

2. It’s important that the value of my investments keeps pace with inflation. I am willing to risk occasional short-term losses, so my investments may grow at about the same rate as the cost of living over time. _______ 5 points

3. It’s important that my investments grow faster over time than the cost of living. To achieve this, I would be willing to risk a substantial amount of loss along the way. ______________ 9 points

C. How large a decline in your account’s value would you be willing to accept in a one-year period?

Understand that the value of your investments will fluctuate, and assume, for this example, that your account is worth $10,000.

1. Less than $500 ____________________ 1 point

2. $1,000 ___________________________ 3 points

3. $1,500 ___________________________ 5 points

4. $2,500 ___________________________ 7 points

5. More than $2,500 _________________ 9 points

D. Which example would you be most comfortable with?

Assume your account balance is $20,000. Each of the following hypothetical examples illustrates a potential change in your portfolio’s value.*

Total Score (A through D) _________

See back for steps 2–4

Portfolio

Greatest Annual Gain

Greatest Annual Loss

Average Annual Change in Value

1. +$2,100 $0 +$900 1 point

2. +$3,500 -$900 +$1,300 3 points

3. +$5,200 -$3,800 +$1,800 5 points

4. +$6,800 -$6,200 +$2,300 7 points

5. +$11,800 -$8,200 +$3,400 9 points

*These gain/loss hypothetical results were developed by Merrill Lynch's Management Science Department and are for illustrative purposes only and are not meant to represent the past or future performance of any specific investment vehicle. You may incur greater losses than indicated in these examples.

Risk tolerance scores are general in nature and should not be considered as investment advice. Individual risk factors and investment experiences may vary more than illustrated in this representation. On the next page, you will see your risk tolerance category and asset allocation model.

Risk Assessment GuideHow should I invest my money?When deciding how to invest your account, keep in mind that all investing involves risk. Generally, the more risky the investment, the higher the potential return, and the less risky the investment, the lower the potential return. You will want to strike a balance between the amount of risk you’re comfortable with and the potential return you’re seeking. To assess your risk tolerance and choose an appropriate allocation, start by answering the following questions.

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Step 2

What is my retirement profile?

First, estimate the number of years until you’d like to retire. Then, read across to the column that corresponds to your Risk Tolerance Score from Step 1 and circle the letter in the box.

Years until retirement

Score 4-10

Score 11-16

Score 17-23

Score 24-29

Score 30-36

0 A B B C C

1-5 B B C C D

6-10 B C C D D

11-20 B C C D E

20+ C C D E E

Step 4

How do I choose my investments?

Money Market/Stable Value1 Bonds Stocks

20%

6%

74%

40%

4%

56%60%

3%

37%80%

20%

95%

5%

A Conservative B Conservative to Moderate C Moderate D Moderate to

Aggressive E Aggressive

Keeping what you have is the main goal. This model provides limited growth potential, seeking to keep risk to a minimum.

The goal of this model is to preserve the investment, while assuming a small amount of risk and seeking low-to-moderate growth.

Balancing current income and growth is the goal. You should be willing to accept moderate risk of investment loss.

Building wealth over time, rather than current income, is the goal. You should be willing to accept a higher risk of investment loss.

Long-term above average growth is the target. You should be willing to accept a very high risk of investment loss.

Used with permission, © 2013 Ibbotson Associates, Inc. All rights reserved.

Step 3

How much should I invest in cash, bonds and stocks?

Now, determine your investment profile by matching the marked box above to the portfolio model with the corresponding letter. You may wish to choose a different asset mix based upon your own risk tolerance and investment objectives.

The sample portfolios are not intended to represent investment advice. This material is not a recommendation as to the suitability of any investment for any person or persons having circumstances similar to those portrayed. Each investor’s portfolio must be constructed based on the individual’s financial resources, investment goals, risk tolerance, investing time frame and other relevant factors. Each investor’s financial needs, goals and risk tolerance are different. The categorization of sample portfolios as “Conservative”, “Conservative to Moderate”, “Moderate”, “Moderate to Aggressive” and “Aggressive” is relative. Merrill Lynch does not recommend any specific asset allocations.

1 The “Money Market/ Stable Value” asset class represents cash, cash equivalents or very short term investment vehicles such as, but not limited to the following: money market, ultra short term or short term bond funds and certain short duration stable value/ GIC funds.

If you choose Advice Access, your investments are selected for you automatically. However, understandingyour risk profile is still important to help you make your retirement planning decisions.

If choosing investments yourself, select a mix of investments or a GoalManager® Risk-Based Portfolio Modeloffered through your Plan that most closely corresponds to the percentage of money market/stable value,bonds and stocks reflected in the models indicated here. Visit Benefits OnLine®at www.benefits.ml.com toview your Plan’s investment menu. Please review your risk profile at least once a year, or when yourcircumstances change.

For easy reference, record today’s date: ____________

34 00001001_E_000001_ABC123

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Accessing Your Retirement Plan Account OnlineBenefits OnLine®—www.benefits.ml.comBenefits OnLine puts everything you need to manage youraccount at your fingertips. From enrolling and planning yourretirement strategy to choosing investments and tracking yourprogress, you can do it all, virtually 24 hours a day, seven daysa week.

Logging In

First-Time Users—Create User IDand Password1. Go to www.benefits.ml.com.2. Click “Create User ID.”3. Follow the prompts.4. Enter new User ID and Password to enter the site.

Tip: Avoid using personal information such as your nameand/or birth date.

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Go mobile

With the mobile-optimized Benefits OnLine athttp://m.benefits.ml.com you can check yourbalance, investments and important alerts andmessages from most smartphones. (Carrier feesmay apply.)

No Online Access?Call the Retirement & Benefits Contact Center at(800) 228-4015.

■ Virtually 24-hour access to the Interactive VoiceResponse system

■ Participant Service Representatives available weekdaysfrom 8 a.m. to 7 p.m. (ET) on all days the New York StockExchange is open

The screen shot(s) shown in this communication are intended to illustrate the functionality andservices available to participants on Benefits OnLine. They are not meant as exact representationsof the screens available through your Plan. All examples are hypothetical and intended forillustrative purposes only.

Benefits OnLineMakes It Easy■ Enroll in your Plan

■ Sign up forAdvice Access

■ Check your balance

■ Change yourcontribution rateand investments

■ Sign up for OnlineDelivery

■ Use calculators toplan your retirementstrategy

■ Monitor your progress00001001000001

FOR PREVIEW ONLY

Benefits OnLine is a registered trademark of Bank of America Corporation.BofA, GoalManager and PersonalManager are registered trademarks of Bank of America Corporation.© 2014 Bank of America Corporation. All rights reserved.

11/03/2015ARCEDB5A-1a

00-63-0049NSB | 02-2014

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