transition guide for upcoming retirement program changes€¦ · funds as part of a streamlined...

TRANSITION GUIDE FOR UPCOMING RETIREMENT PROGRAM CHANGES

FORDHAM UNIVERSITY | OCTOBER, 2015

A Special Note for Former Employees, Alternate Payees, and Retirement Program Beneficiaries: If you are a former employee, alternate payee, or beneficiary with an account balance in the Retirement Program, you will be affected by the upcoming transition, so please read this material carefully.

TABLE OF CONTENTS

The Path to Achieving Financial Security Retirement Program Updates Introduction

What Will Stay the Same? Preparing for Changes

Retirement Program Investment Choices | TIAA-CREF Changes to TIAA-CREF Investment Choices

Retirement Program Investment Choices | Fidelity Changes to Fidelity Investment Choices

Fordham University Default Investment Funds | Fidelity Fordham University Retirement Program Q & A Retirement Program Contacts

2

3 4

8

13

24 26 27

Fordham University Retirement Program 2015

Since 2012, the University has worked with Cammack Retirement Group, an independent advisor, to review our current investment options in order to help improve your available choices while reducing overall investment expenses. After extensive research, the University is pleased to announce updates to the Fordham University Retirement Plan and the Fordham University Tax-Deferred Annuity (TDA) Plan (hereinafter referred to as the “Retirement Program").

Having new opportunities to plan and invest will make it easier for you to reach your retirement goals. At the same time, TIAA-CREF and Fidelity will provide expanded retirement education and consultation meetings on all campuses to help guide you and answer any questions.

With the assistance of Cammack Retirement Group, Fordham University will continue to monitor the performance and fees of the selected investment options to provide you with the best opportunities to achieve financial security.

In this Retirement Program Guide packet, you will find information on the Retirement Program updates, key dates, a schedule of upcoming information sessions and specific action steps.

Please review the information carefully and take full advantage of the services offered through the Fordham University Retirement Program.

THE PATH TO ACHIEVING FINANCIAL SECURITY

3 Fordham University Retirement Program 2015

Starting December 11, 2015, important updates are coming to the Fordham University Retirement program.

What to expect:

• There will be a new investment line-up customized for the FordhamUniversity Retirement Program. The diverse array of investmentchoices will give you flexibility to create a retirement portfoliotailored to your preferences and goals. The lineup includes lifecyclefunds as part of a streamlined array of 22 investment optionsoffered by TIAA-CREF and 18 investment funds offered by Fidelitywithin many investment categories. Most investment options will beoffered by both TIAA-CREF and Fidelity. See the new lineup under“Retirement Program Investment Choices” on pages 8-9 for TIAA-CREF, and on pages 13-14 for Fidelity.

• Investment options will be monitored on an ongoing basis by theFordham University Retirement Investment Committee withassistance from independent consulting firm CammackRetirement Group.

• Updated customized web sites at TIAA-CREF and Fidelity.

• Personalized retirement plan advice from representatives atTIAA-CREF (see page 5 for contact information).

• One-on-one retirement plan guidance from Fidelity WorkplacePlanning and Guidance Consultants (see page 5 for contactinformation).

RETIREMENT PROGRAM UPDATES ARE ON THE WAY


Current contribution rates, eligibility requirements, and vesting will remain unchanged. In addition, the Retirement Program will retain some of the current investment options from TIAA-CREF and Fidelity, such as the TIAA Traditional Annuity and the Fidelity Freedom K® Funds.

WHAT IS STAYING THE SAME

PREPARING FOR THE UPDATES AHEAD

Retirement Program updates and “action steps” for you to consider: Attend an on-site seminar.

Set up a one-on-one consultation. TIAA-CREF or Fidelity Representatives are available to personally assist you with Retirement Program planning and fund selection at no additional cost to you. If you want to review your Retirement Program portfolio once investment changes are made on December 11 or discuss retirement planning strategies, simply schedule an appointment. Sessions are available either in person or by phone. To schedule a consultation:

TIAA-CREF – (800) 842-2252. Consultants are available Monday through Friday, 8 a.m. – 10 p.m. (EDT) and Saturday, 9 a.m. – 6 p.m. (EDT). Or visit www.tiaa-cref.org/fordham

FIDELITY - (800) 642-7131. Consultants are available Monday through Friday 8:00 a.m. – Midnight. (EDT). Or visit www.netbenefits.com/fordham

Key date Event

October 26-30; November 10-12 On-site seminars and one-on-one meetings offered at Fordham University campus locations

Beginning December 11 Retirement Program investment changes take effect and are live online

Post December 11 Confirmation notices sent to participants whose investment choices transfer automatically due to Retirement Program investment changes

Post December 11 One-on-one consultations are available from TIAA-CREF and Fidelity Representatives


The Retirement Program updates are designed to provide you with additional opportunities to conveniently save and invest as you plan for your retirement.

Date Campus Location Session 1 Session 2

October 26, 2015 Lincoln Center Lowenstein 3rd Floor Lounge 9AM – 11AM 1PM – 3PM

October 27, 2015 Rose Hill Walsh Library – Flom Auditorium 9AM – 11AM 1PM – 3PM

October 28, 2015 Westchester Room 203 1PM – 3PM N/A

October 29, 2015 Lincoln Center Lowenstein 3rd Floor Lounge 12Noon-2PM N/A

October 30, 2015 Rose Hill Walsh Library – Flom Auditorium 12Noon-2PM N/A

November 10, 2015 Lincoln Center Lowenstein 3rd Floor Lounge 9AM – 11AM 1PM – 3PM

November 11, 2015 Rose Hill Walsh Library – Flom Auditorium 9AM – 11AM 1PM – 3PM

November 12, 2015 Westchester Room 203 1PM – 2PM

http://www.tiaa-cref.org/fordham



http://www.netbenefits.com/fordham

While choosing investment options that match your goals and risk tolerance is a top priority, low expenses are also important because they can help put more money to work for your retirement savings goals.

KEEP AN EYE ON EXPENSES

$0K Higher fees (John) Moderate fees (Sally) Lower fees (Don)

This chart assumes expenses are withdrawn from the account at year end, based on year-end assets. It is purely hypothetical and is presented for illustrative purposes only and does not reflect actual performance, deduction of taxes or predict future results of any investment account. Before committing money to an account, be sure to check its expenses. Refer to fund prospectuses for current expenses.

For example, consider the chart above. Three people invest $10,000 over 30 years and earn a hypothetical 6% annualized return. Each of these examples shows the impact of higher fees, over time, on an account balance. Don’s account is the richest because his annual return was higher after the impact of his expenses on investment returns.

Lower expenses will allow more of your account balance to be used for your retirement income objectives. These examples show the impact of different expense fees on the same investment amount and the same annualized return. The chart shows the effect of different expenses paid by John, Sally and Don and that the differences can be significant for long-term returns.

So, when choosing investments, take expenses into account — lower expenses can go a long way toward helping you reach your savings goals.

2.00%

$20K

$10K

$40K

$50K

$10,000

1.50%

0.50%

$31,330

$36,497

$49,416

$10,000 $10,000

Part

icpa

nts’

Sav

ings

Tot

als

$10,000 invested over 30 years earning 6%


1. Learn about the new investment lineup, designed to offer you bothchoice and simplicity .

2. See how the current investment lineup will transition to the newinvestment lineup.

3. Please refer to the schedule on page 5 for on-site meetings andcontact information if you also need a one-on-one consultation.

MAKE AN ACTION PLAN


Lifecycle Funds: One-step investing Category Fund Share Ticker Morningstar Expense

Class Category Ratio %1

Multi-Asset TIAA-CREF Lifecycle 2010 Institutional TCTIX Target Date 2000-2010 0.52%

TIAA-CREF Lifecycle 2015 Institutional TCNIX Target Date 2011-2015 0.53%

TIAA-CREF Lifecycle 2020 Institutional TCWIX Target Date 2016-2020 0.54%

TIAA-CREF Lifecycle 2025 Institutional TCYIX Target Date 2021-2025 0.56%

TIAA-CREF Lifecycle 2030 Institutional TCRIX Target Date 2026-2030 0.57%

TIAA-CREF Lifecycle 2035 Institutional TCIIX Target Date 2031-2035 0.58%

TIAA-CREF Lifecycle 2040 Institutional TCOIX Target Date 2036-2040 0.58%

TIAA-CREF Lifecycle 2045 Institutional TTFIX Target Date 2041-2045 0.60%

TIAA-CREF Lifecycle 2050 Institutional TFTIX Target Date 2046-2050 0.61%

TIAA-CREF Lifecycle 2055 Institutional TTRIX Target Date 2051-2055 0.78%

TIAA-CREF Lifecycle 2060 Institutional TLXNX Target Date 2055+ 1.14%

TIAA-CREF Lifecycle Retirement Income Institutional TLRIX Retirement Income 0.55%

Streamlined Array: "Hands On” investing Category Fund Share Ticker Morningstar Expense


Guaranteed TIAA Traditional2 N/A GIA Annuity

N/A N/A

Money Market CREF Money Market Account N/A Variable

Annuity Money Market-Taxable 0.40%

Fixed Income JP Morgan Total Return Fund Select JMTSX Intermediate-Term Bond 0.88%

BlackRock Inflation Protected Bond Fund BlackRock BPLBX Inflation Protected Bond 0.51%

Vanguard Long-Term Bond Index Fund Admiral VLGSX Long Government Bond 0.12%

Lord Abbett High Yield Fund A LHYAX High-Yield Bond 0.94%

BlackRock Strategic Income Opps. Portfolio Institutional BSIIX Multi-Sector Bond 0.80%

Templeton Global Bond Fund Adv. TGBAX World Bond 0.66%

Effective December 11 You can choose from the following investment options: Additional information on each option, including current performance, is available online at

www.tiaa-cref.org/fordham. Once you log on, select Plans and Investments.

RETIREMENT PROGRAM INVESTMENT CHOICES – TIAA-CREF


1 Expense ratios are gross expenses as of June 30, 2015, For the most recent prospectuses, please call the fund family or visit their website for any waivers and reimbursements that may be available.

2 TIAA Traditional Annuity is a guaranteed insurance contract and not an investment for federal securities law purposes Any guarantees under annuities issued by TIAA are subject to TIAA’s claims-paying ability .

3 The Account’s total annual expense deduction appears in the Account’s prospectus, and may be different than that shown herein due to rounding. Please refer to the prospectus for further details.

* Annuity account options are available through annuity contracts issued by TIAA or CREF These contracts are designed forretirement or other long-term goals and offer a variety of income options, including lifetime income Payments from the variable annuity accounts are not guaranteed and will rise or fall based on investment performance .

Streamlined Array: “Hands On” investing, continued Category Fund Share Ticker Morningstar Expense


Equities

Mutual Funds Vanguard Equity-Income Fund Admiral VEIRX Large Value 0.20%

TIAA-CREF S&P 500 Index Institutional TISPX Large Blend 0.06%

Victory Integrity Small-Cap Value Fund Y VSVIX Small Value 1.23%

Vanguard Small Cap Index Admiral VSMAX Small Blend 0.09%

Goldman Sachs Small Cap Growth Insights Institutional GSIOX Small Growth 1.48%

American Funds New Perspective R5 RNPFX World Stock 0.49%

TIAA-CREF International Equity Index Institutional TCIEX Foreign Large Blend 0.06%

American Funds New World R5 RNWFX Diversified Emerging 0.69%

Vanguard REIT Index Admiral VGSLX Real Estate 0.12%

Annuities* CREF Stock Account R2 Variable Annuity

Large Blend 0.463%

CREF Growth R2 Variable Annuity

Large Growth 0.413%

CREF Social Choice Account R2 Variable Annuity

Moderate Allocation 0.423%

Real Estate TIAA Real Estate Account N/A Variable Annuity

Miscellaneous Sector 0.873%


RETIREMENT PROGRAM INVESTMENT CHOICES – TIAA-CREF

The following charts show which investments will remain the same and which will change on December 11. Some changes will occur automatically as noted. Review the information to determine any actions you may want to take before, on or after December 11th.

RETIREMENT PROGRAM INVESTMENTS | TIAA-CREF: WHAT STAYS THE SAME? WHAT CHANGES?

NO CHANGES will be made to the following investment options on December 11 Ticker

TIAA Traditional* Guaranteed Annuity

CREF Money Market Account** Variable Annuity

CREF Stock Account** Variable Annuity

CREF Growth Account** Variable Annuity

CREF Social Choice Account** Variable Annuity

TIAA Real Estate Account** Variable Annuity

The following investment options will be ADDED to the lineup and will be available for transfers and/or future contributions on December 11

Ticker

American Funds New Perspective Fund RNPFX

American Funds New World Fund RNWFX

BlackRock Inflation Protected Bond Fund BPLBX

BlackRock Strategic Income Opportunities Portfolio BSIIX

Goldman Sachs Small Cap Growth Insights Fund GSIOX

JP Morgan Total Return Fund JMTSX

Lord Abbett High Yield Fund LHYAX

Templeton Global Bond Fund TGBAX

Vanguard Equity Income Fund VEIRX

Vanguard Long-Term Government Bond Index Fund VLGSX

Vanguard Small Cap Index Fund VSMAX

Vanguard REIT Index Fund VGSLX

Victory Integrity Small-Cap Value Fund VSVIX

*TIAA Traditional Annuity is a guaranteed insurance contract and not an investment for federal securities lawpurposes. Any guarantees under annuities issued by TIAA are subject to TIAA’s claims-paying ability . **Annuity account options are available through annuity contracts issued by TIAA or CREF These contracts are designed for retirement or other long-term goals and offer a variety of income options, including lifetime income Payments from the variable annuity accounts are not guaranteed and will rise or fall based on investment performance.


If you have current balances or future contributions directed to these MUTUAL FUND choices…

...they will automatically be directed to these investment options effective December 11

Current Investment Option Ticker

Expense Ratio %1,2

New Investment Option Ticker

Expense Ratio %1,2

TIAA-CREF Large-Cap Value Index TRCVX 0.31% Vanguard Equity Income VEIRX 0.20%

TIAA-CREF Large Cap Value TRLCX 0.67% Vanguard Equity Income VEIRX 0.20%

TIAA-CREF Equity Index TIQRX 0.30% TIAA-CREF S&P 500 Index TISPX 0.06%

TIAA-CREF Social Equity TRSCX 0.43% CREF Social Choice Variable Annuity 0.42%

TIAA-CREF Growth & Income TRGIX 0.67% CREF Growth Variable Annuity 0.41%

TIAA-CREF Large Cap Growth Index TRIRX 0.31% CREF Growth Variable

Annuity 0.41%

TIAA-CREF Mid Cap Value TRVRX 0.66% Victory Integrity Small Cap Vallue VSVIX 1.23%

TIAA-CREF Mid Cap Growth TRGMX 0.72% Goldman Sachs Small Cap Growth Insights GSIOX 1.48%

TIAA-CREF Small Cap Blend Index TRBIX 0.38% Vanguard Small Cap Index VSMAX 0.09%

TIAA-CREF Small Cap Equity TRSEX 0.74% Vanguard Small Cap Index VSMAX 0.09%

TIAA-CREF International Equity TRERX 0.74% TIAA-CREF International Equity Index TCIEX 0.06%

TIAA-CREF Real Estate Securities TRRSX 0.77% Vanguard REIT Index VGSLX 0.12%

TIAA-CREF International Equity Index TRIEX 0.31% TIAA-CREF International Equity

Index TCIEX 0.06%

TIAA-CREF S&P 500 Index TRSPX 0.31% TIAA-CREF S&P 500 Index Inst. TISPX 0.06%

TIAA-CREF Lifecycle 2010 TCLEX 0.82% TIAA-CREF Lifecycle 2010 Inst. TCTIX 0.52%

TIAA-CREF Lifecycle 2015 TCLIX 0.83% TIAA-CREF Lifecycle 2015 Inst. TCNIX 0.53%

TIAA-CREF Lifecycle 2020 TCLTX 0.84% TIAA-CREF Lifecycle 2020 Inst. TCWIX 0.54%

TIAA-CREF Lifecycle 2025 TCLFX 0.86% TIAA-CREF Lifecycle 2025 Inst. TCYIX 0.56%

TIAA-CREF Lifecycle 2030 TCLNX 0.87% TIAA-CREF Lifecycle 2030 Inst. TCRIX 0.57%

TIAA-CREF Lifecycle 2035 TCLRX 0.88% TIAA-CREF Lifecycle 2035 Inst. TCIIX 0.58%

TIAA-CREF Lifecycle 2040 TCLOX 0.88% TIAA-CREF Lifecycle 2040 Inst. TCOIX 0.58%

TIAA-CREF Lifecycle 2045 TTFRX 0.90% TIAA-CREF Lifecycle 2045 Inst. TTFIX 0.60%

TIAA-CREF Lifecycle 2050 TLFRX 0.91% TIAA-CREF Lifecycle 2050 Inst. TFTIX 0.61%

TIAA-CREF Lifecycle 2055 TTRLX 1.08% TIAA-CREF Lifecycle 2055 Inst. TTRIX 0.78%

TIAA-CREF Lifecycle Retirement Income TLIRX 0.85% TIAA-CREF Lifecycle

Retirement Income Inst. TLRIX 0.55%


RETIREMENT PROGRAM INVESTMENTS | TIAA-CREF:

If you have current balances or future contributions directed to these ANNUITY OPTIONS…

...your existing balance will remain as is, but your future contributions will be directed to these investment options effective December 11

Current Investment Option Ticker

Expense Ratio %1,2

New Investment Option Ticker

Expense Ratio %1,2

CREF Inflation-Linked Bond Account*

Variable Annuity 0.403% BlackRock Inflation Protected

Bond BPLBX 0.51%

CREF Global Equities Account* Variable Annuity 0.463% American Funds New

Perspective RNPFX 0.49%

CREF Equity Index Account* Variable Annuity 0.383% TIAA-CREF S&P 500 Index TISPX 0.06%

CREF Bond Market Account* Variable Annuity 0.463% JP Morgan Total Return JMTSX 0.88%

1 Expense ratios are gross expenses as of June 30, 2015, For the most recent prospectuses, please call the fund family or visit their website for any waivers and reimbursements that may be available. 2 Expenses are estimated each year based on projected expense and asset levels. Differences between actual expenses and the estimate are adjusted quarterly and are reflected in current investment results. Historically, adjustments have been small. 3 The Account’s total annual expense deduction appears in the Account’s prospectus, and may be different than that shown herein due to rounding. Please refer to the prospectus for further details.

*Annuity account options are available through annuity contracts issued by TIAA or CREF These contracts are designed forretirement or other long-term goals and offer a variety of income options, including lifetime income Payments from the variable annuity accounts are not guaranteed and will rise or fall based on investment performance

12 Information was provided by TIAA-CREF.

Fordham University Retirement Program 2015

RETIREMENT PROGRAM INVESTMENTS | TIAA-CREF:

Effective December 11 You can choose from the following investment options. Additional information on each option, including current performance, is available online at www.netbenefits.com/fordham. Once you log on, select Plans and Investments.

RETIREMENT PROGRAM INVESTMENT CHOICES – FIDELITY INVESTMENTS:

Target Date Funds: One-step investing Category Fund Share Ticker Morningstar Expense


Multi-Asset Fidelity Freedom K® 2005 Fund N/A FFKVX Target Date 2000-2010 0.49%

Fidelity Freedom K® 2010 Fund N/A FFKCX Target Date 2000-2010 0.52%

Fidelity Freedom K® 2015 Fund N/A FKVFX Target Date 2011-2015 0.55%

Fidelity Freedom K® 2020 Fund N/A FFKDX Target Date 2016-2020 0.57%

Fidelity Freedom K® 2025 Fund N/A FKTWX Target Date 2021-2025 0.60%

Fidelity Freedom K® 2030 Fund N/A FFKEX Target Date 2026-2030 0.63%

Fidelity Freedom K® 2035 Fund N/A FKTHX Target Date 2031-2035 0.64%

Fidelity Freedom K® 2040 Fund N/A FFKFX Target Date 2036-2040 0.64%

Fidelity Freedom K® 2045 Fund N/A FFKGH Target Date 2041-2045 0.64%

Fidelity Freedom K® 2050 Fund N/A FFKHX Target Date 2046-2050 0.64%

Fidelity Freedom K® 2055 Fund N/A FDENX Target Date 2051+ 0.64%

Fidelity Freedom K® 2060 Fund N/A FDKNX Target Date 2051+ 0.64%

Fidelity Freedom K® Income Fund N/A FFKAX Retirement Income 0.43%

Streamlined Array: "Hands On” investing Category Fund Share Ticker Morningstar Expense


Guaranteed New York Life GIA Fund2 N/A NA N/A N/A

Fixed Income JP Morgan Total Return Fund Select JMTSX Intermediate-Term Bond 0.88%

BlackRock Inflation Protected Bond Fund BlackRock BPLBX Inflation Protected Bond 0.51%

Vanguard Long-Term Bond Index Fund Admiral VLGSX Long Government Bond 0.12%

Lord Abbett High Yield Fund A LHYAX High-Yield Bond 0.94%

BlackRock Strategic Income Opportunities Portfolio Institutional BSIIX Multi-Sector Bond 0.80%

Templeton Global Bond Fund Advisor TGBAX World Bond 0.66%


Streamlined Array: “Hands On” investing, continued Category Fund Share Ticker Morningstar Expense


Equities

Mutual Funds Vanguard Equity-Income Fund Admiral VEIRX Large Value 0.20%

Spartan® 500 Index Fund Institutional FXSIX Large Blend 0.05%

Fidelity® Contra® Fund K FCNKX Large Growth 0.54%

Victory Integrity Small-Cap Value Fund Y VSVIX Small Value 1.23%

Vanguard Small Cap Index Fund Admiral VSMAX Small Blend 0.09%

Goldman Sachs Small Cap Growth Insights Fund Institutional GSIOX Small Growth 1.48%

American Funds New Perspective Fund R5 RNPFX World Stock 0.49%

Spartan® International Index Fund* Institutional FSPNX Foreign Large Blend 0.095%

American Funds New World Fund R5 RNWFX Diversified Emerging 0.69%

Vanguard REIT Index Fund Admiral VGSLX Real Estate 0.12%

1 Expense ratios are gross expenses as of June 30, 2015, For the most recent prospectuses, please visit netbenefits.com/fordham for any waivers and reimbursements that may be available.

2 NY Life GIA is a guaranteed insurance contract and not an investment for federal securities law purposes Any guarantees under annuities issued by NY Life Insurance are subject to NY Life’s claims-paying ability

* This fund has a Short-term Redemption Fee of 1.00% for fee eligible shares held less than 90 days.


RETIREMENT PROGRAM INVESTMENT CHOICES – FIDELITY INVESTMENTS:

The following investment options will be ADDED to the lineup and will be available for transfers and/or future contributions on December 11.

Ticker

New York Life GIA N/A

American Funds New Perspective Fund Class R-5 RNPFX

American Funds New World Fund Class R-5 RNWFX

BlackRock Inflation Protected Bond Fund BlackRock Shares BPLBX

BlackRock Strategic Income Opportunities Portfolio Institutional Shares BSIIX

Goldman Sachs Small Cap Growth Insights Fund Institutional GSIOX

JP Morgan Total Return Fund Select Class Shares JMTSX

Lord Abbett High Yield Fund Class A LHYAX

Templeton Global Bond Fund Advisor Class TGBAX

Vanguard Equity Income Fund Admiral Shares VEIRX

Vanguard Long-Term Government Bond Index Fund Admiral Shares VLGSX

Vanguard Small Cap Index Fund Admiral Shares VSMAX

Vanguard REIT Index Fund Admiral Shares VGSLX

Victory Integrity Small-Cap Value Fund Class Y VSVIX

The following charts show which investments will change on December 11. Some changes will occur automatically as noted. Review the information to determine any actions you may want to take before, on or after December 11.

RETIREMENT PROGRAM INVESTMENTS | FIDELITY: WHAT STAYS THE SAME? WHAT CHANGES?



...they will automatically be directed to these investment options effective December 11.

Current Investment Option Ticker Expense

Ratio %1 New Investment Option Ticker Expense Ratio %1

Fidelity® Global Bond Fund FGBFX 1.09% Templeton Global Bond Fund Advisor Class TGBAX 0.66%

Fidelity® Global Strategies Fund FDYSX 1.07% Target Retirement Date Fidelity Freedom K® Fund N/A N/A

Fidelity® International Bond Fund FINUX 1.06% Templeton Global Bond Fund Advisor Class TGBAX 0.66%

Fidelity® International Enhanced Index Fund4 FIENX 0.63% Spartan® International Index Fund -

Institutional Class3 FSPNX 0.095%

Fidelity® Select Industrial Equipment Portfolio6 FSCGX 0.77% Spartan® 500 Index Fund -

Institutional Class FXSIX 0.05%

Strategic Advisers® Core Income Multi-Manager Fund FWHBX 1.01% JPMorgan Total Return Fund

Select Class Shares JMTSX 0.88%

Strategic Advisers® Core Multi-Manager Fund FLAUX 1.14% Spartan® 500 Index Fund -


Strategic Advisers® Emerging Markets Fund of Funds2 FLILX 2.21% American Funds New World Fund®

Class R-5 RNWFX 0.69%

Strategic Advisers® Growth Multi-Manager Fund FMELX 0.87% Fidelity® Contrafund® - Class K FCNKX 0.54%

Strategic Advisers® Small-Mid Cap Multi-Manager Fund2 FNAPX 1.39% Vanguard Small-Cap Index Fund

Admiral Shares VSMAX 0.09%

Strategic Advisers® Value Multi-Manager Fund FKMOX 1.25% Vanguard Equity-Income Fund

Admiral Shares VEIRX 0.20%

Fidelity Freedom® 2005 Fund FFFVX 0.56% Fidelity Freedom K® 2005 Fund FFKVX 0.49%

Fidelity Freedom® 2010 Fund FFFCX 0.60% Fidelity Freedom K® 2010 Fund FFKCX 0.52%

Fidelity Freedom® 2015 Fund FFVFX 0.63% Fidelity Freedom K® 2015 Fund FKVFX 0.55%

Fidelity Freedom® 2020 Fund FFFDX 0.66% Fidelity Freedom K® 2020 Fund FFKDX 0.57%

Fidelity Freedom® 2025 Fund FFTWX 0.70% Fidelity Freedom K® 2025 Fund FKTWX 0.60%

Fidelity Freedom® 2030 Fund FFFEX 0.74% Fidelity Freedom K® 2030 Fund FFKEX 0.63%

Fidelity Freedom® 2035 Fund FFTHX 0.75% Fidelity Freedom K® 2035 Fund FKTHX 0.64%

Fidelity Freedom® 2040 Fund FFFFX 0.75% Fidelity Freedom K® 2040 Fund FFKFX 0.64%

Fidelity Freedom® 2045 Fund FFFGX 0.75% Fidelity Freedom K® 2045 Fund FFKGX 0.64%

Fidelity Freedom® 2050 Fund FFFHX 0.75% Fidelity Freedom K® 2050 Fund FFKHX 0.64%

Fidelity Freedom® 2055 Fund FDEEX 0.75% Fidelity Freedom K® 2055 Fund FDENX 0.64%

Fidelity Freedom® 2060 Fund FDKVX 0.76% Fidelity Freedom K® 2060 Fund FDKNX 0.64%

Fidelity Freedom® Income Fund FFFAX 0.49% Fidelity Freedom K® Income Fund FFKAX 0.43%


RETIREMENT PROGRAM INVESTMENTS | FIDELITY:





Fidelity® Capital & Income Fund3 FAGIX 0.72% Lord Abbett High Yield Fund Class A LHYAX 0.94%

Fidelity Asset Manager® 85% FAMRX 0.75% Target Retirement Date Fidelity Freedom K® Fund N/A N/A

Fidelity Asset Manager® 70% FASGX 0.73% Target Retirement Date Fidelity Freedom K® Fund N/A N/A

Fidelity Asset Manager® 20% FASIX 0.53% Target Retirement Date Fidelity Freedom K® Fund N/A N/A

Fidelity Asset Manager® 50% FASMX 0.66% Target Retirement Date Fidelity Freedom K® Fund N/A N/A

Fidelity® Balanced Fund FBALX 0.56% Target Retirement Date Fidelity Freedom K® Fund N/A N/A

Fidelity® Blue Chip Value Fund FBCVX 0.73% Vanguard Equity-Income Fund Admiral Shares VEIRX 0.20%

Fidelity® Blue Chip Growth Fund FBGRX 0.80% Fidelity® Contrafund® - Class K FCNKX 0.54%

Spartan® U.S. Bond Index Fund - Investor Class FBIDX 0.22% JPMorgan Total Return Fund


Fidelity® Select Biotechnology Portfolio6 FBIOX 0.74% Target Retirement Date Fidelity

Freedom K® Fund N/A N/A

Fidelity® Select Multimedia Portfolio5 FBMPX 0.81% Target Retirement Date Fidelity


Fidelity® Investment Grade Bond Fund FBNDX 0.45% JPMorgan Total Return Fund


Fidelity® Select IT Services Portfolio6 FBSOX 0.81% Target Retirement Date Fidelity


Fidelity® Corporate Bond Fund FCBFX 0.45% JPMorgan Total Return Fund Select Class Shares JMTSX 0.88%

Fidelity® Contrafund® FCNTX 0.64% Fidelity® Contrafund® - Class K FCNKX 0.54%

Fidelity® Small Cap Enhanced Index Fund2 FCPEX 0.68% Vanguard Small-Cap Index Fund


Fidelity® Small Cap Growth Fund2 FCPGX 0.91% Goldman Sachs Small Cap Growth Insights Fund Institutional GSIOX 1.48%

Fidelity® Small Cap Value Fund1 FCPVX 1.09% Victory Integrity Small-Cap Value Fund Class Y VSVIX 1.23%

Fidelity® Convertible Securities Fund FCVSX 0.58% JPMorgan Total Return Fund


Fidelity® Select Industrials Portfolio6 FCYIX 0.78% Target Retirement Date Fidelity


Fidelity® Capital Appreciation Fund FDCAX 0.82% Fidelity® Contrafund® - Class K FCNKX 0.54%

Fidelity® Select Computers Portfolio6 FDCPX 0.80% Target Retirement Date Fidelity


Fidelity® Growth Strategies Fund1 FDEGX 0.72% Goldman Sachs Small Cap Growth Insights Fund Institutional GSIOX 1.48%

Fidelity® Disciplined Equity Fund FDEQX 0.50% Spartan® 500 Index Fund - Institutional Class FXSIX 0.05%







Fidelity® Select Consumer Staples Portfolio5 FDFAX 0.77% Target Retirement Date Fidelity


Fidelity® Independence Fund FDFFX 0.73% Fidelity® Contrafund® - Class K FCNKX 0.54%

Fidelity® Dividend Growth Fund FDGFX 0.56% Spartan® 500 Index Fund - Institutional Class FXSIX 0.05%

Fidelity® Growth Company Fund FDGRX 0.82% Fidelity® Contrafund® - Class K FCNKX 0.54%

Fidelity® Diversified International Fund4 FDIVX 0.91% Spartan® International Index Fund

- Institutional Class3 FSPNX 0.095%

Fidelity® Select Leisure Portfolio6 FDLSX 0.80% Target Retirement Date Fidelity Freedom K® Fund N/A N/A

Fidelity® Stock Selector Small Cap Fund2 FDSCX 0.73% Vanguard Small-Cap Index Fund


Fidelity® Stock Selector All Cap Fund FDSSX 0.67% Fidelity® Contrafund® - Class K FCNKX 0.54%

Fidelity® Growth Discovery Fund FDSVX 0.82% Fidelity® Contrafund® - Class K FCNKX 0.54%

Fidelity® Value Fund FDVLX 0.76% Victory Integrity Small-Cap Value Fund Class Y VSVIX 1.23%

Fidelity® Emerging Markets Discovery Fund5 FEDDX 1.48% American Funds New World

Fund® Class R-5 RNWFX 0.69%

Fidelity® Emerging Europe, Middle East, Africa (EMEA) Fund2

FEMEX 1.37% American Funds New World Fund® Class R-5 RNWFX 0.69%

Fidelity® Emerging Markets Fund2 FEMKX 1.07% American Funds New World

Fund® Class R-5 RNWFX 0.69%

Fidelity® Equity-Income Fund FEQIX 0.69% Vanguard Equity-Income Fund Admiral Shares VEIRX 0.20%

Fidelity® Equity Dividend Income Fund FEQTX 0.63% Vanguard Equity-Income Fund


Fidelity® Export and Multinational Fund6 FEXPX 0.78% Fidelity® Contrafund® - Class K FCNKX 0.54%

Fidelity Asset Manager® 40% FFANX 0.56% Target Retirement Date Fidelity Freedom K® Fund N/A N/A

Fidelity® Global Commodity Stock Fund4 FFGCX 1.11% Target Retirement Date Fidelity


Fidelity® Fund FFIDX 0.53% Fidelity® Contrafund® - Class K FCNKX 0.54%

Fidelity® Four-in-One Index Fund FFNOX 0.24% Target Retirement Date Fidelity Freedom K® Fund N/A N/A

Fidelity® Floating Rate High Income Fund7 FFRHX 0.69% Lord Abbett High Yield Fund

Class A LHYAX 0.94%

Fidelity® Global Balanced Fund4 FGBLX 0.99% Target Retirement Date Fidelity Freedom K® Fund N/A N/A

Fidelity® Global High Income Fund3 FGHNX 1.05% Templeton Global Bond Fund

Advisor Class TGBAX 0.66%

Fidelity® Global Equity Income Fund4 FGILX 1.16% American Funds New Perspective

Fund® Class R-5 RNPFX 0.49%






Ratio %1New Investment Option Ticker Expense

Ratio %1

Fidelity® GNMA Fund FGMNX 0.45% JPMorgan Total Return Fund Select Class Shares JMTSX 0.88%

Fidelity® Government Income Fund FGOVX 0.45% JPMorgan Total Return Fund


Fidelity® Growth & Income Portfolio FGRIX 0.66% Spartan® 500 Index Fund -


Fidelity® Mega Cap Stock Fund FGRTX 0.68% Spartan® 500 Index Fund - Institutional Class FXSIX 0.05%

Fidelity® Focused High Income Fund3 FHIFX 0.85% Lord Abbett High Yield Fund

Class A LHYAX 0.94%

Fidelity® China Region Fund1 FHKCX 1.01% American Funds New Perspective Fund® Class R-5 RNPFX 0.49%

Spartan® Intermediate Treasury Bond Index Fund - Fidelity Advantage Class

FIBAX 0.10% JPMorgan Total Return Fund Select Class Shares JMTSX 0.88%

Fidelity® Canada Fund2 FICDX 0.98% Spartan® International Index Fund - Institutional Class3 FSPNX 0.095%

Fidelity® Select Financial Services Portfolio6 FIDSX 0.79% Target Retirement Date

Fidelity Freedom K® Fund N/A N/A

Fidelity® Europe Fund4 FIEUX 0.97% American Funds New Perspective Fund® Class R-5 RNPFX 0.49%

Fidelity® International Growth Fund4 FIGFX 1.04% Spartan® International Index

Fund - Institutional Class3 FSPNX 0.095%

Fidelity® International Discovery Fund4 FIGRX 0.91% Spartan® International Index

Fund - Institutional Class FSPNX 0.095%

Fidelity® Inflation-Protected Bond Fund FINPX 0.45% BlackRock Inflation Protected

Bond Fund BlackRock Shares BPLBX 0.51%

Fidelity® International Real Estate Fund2 FIREX 1.14% Vanguard REIT Index Fund

Admiral Shares VGSLX 0.12%

Fidelity® International Small Cap Fund5 FISMX 1.22% Spartan® International Index


Fidelity® Telecom and Utilities Fund FIUIX 0.81% Target Retirement Date


Fidelity® International Capital Appreciation Fund4 FIVFX 1.14% Spartan® International Index


Fidelity® International Value Fund4 FIVLX 0.96% Spartan® International Index


Fidelity® Japan Fund2 FJPNX 0.90% Spartan® International Index Fund - Institutional Class3 FSPNX 0.095%

Fidelity® Japan Smaller Companies Fund2 FJSCX 1% Spartan® International Index


Fidelity® Latin America Fund2 FLATX 1.08% American Funds New Perspective Fund® Class R-5 RNPFX 0.49%

Spartan® Long-Term Treasury Bond Index Fund - Fidelity Advantage Class

FLBAX 0.10% Vanguard Long-Term Government Bond Index Fund Admiral Shares

VLGSX 0.12%

Fidelity® Large Cap Core Enhanced Index Fund FLCEX 0.45% Spartan® 500 Index Fund -


Fidelity® Large Cap Stock Fund FLCSX 0.88% Spartan® 500 Index Fund - Institutional Class FXSIX 0.05%







Fidelity® Large Cap Growth Enhanced Index Fund FLGEX 0.45% Fidelity® Contrafund® - Class K FCNKX 0.54%

Fidelity® Low-Priced Stock Fund2 FLPSX 0.82% Victory Integrity Small-Cap Value Fund Class Y VSVIX 1.23%

Fidelity® Leveraged Company Stock Fund2 FLVCX 0.79% Victory Integrity Small-Cap Value

Fund Class Y VSVIX 1.23%

Fidelity® Large Cap Value Enhanced Index Fund FLVEX 0.46% Vanguard Equity-Income Fund


Fidelity® Magellan® Fund FMAGX 0.70% Fidelity® Contrafund® - Class K FCNKX 0.54%

Fidelity® Mid-Cap Stock Fund6 FMCSX 0.76% Goldman Sachs Small Cap Growth Insights Fund Institutional GSIOX 1.48%

Fidelity® Mid Cap Enhanced Index Fund5 FMEIX 0.61% Vanguard Small-Cap Index Fund


Fidelity® New Millennium Fund FMILX 0.84% Fidelity® Contrafund® - Class K FCNKX 0.54%

Strategic Advisers® International Multi-Manager Fund4 FMJDX 1.15% Spartan® International Index Fund

- Institutional Class FSPNX 0.10%

Fidelity® Mortgage Securities Fund FMSFX 0.45% JPMorgan Total Return Fund


Fidelity® Select Natural Resources Portfolio6 FNARX 0.82% Target Retirement Date Fidelity


Fidelity® Nasdaq® Composite Index Fund8 FNCMX 0.55% Fidelity® Contrafund® - Class K FCNKX 0.54%

Fidelity® New Markets Income Fund3 FNMIX 0.90% Templeton Global Bond Fund

Advisor Class TGBAX 0.66%

Fidelity® Nordic Fund2 FNORX 0.99% Spartan® International Index Fund - Institutional Class3 FSPNX 0.095%

Fidelity® OTC Portfolio FOCPX 0.77% Fidelity® Contrafund® - Class K FCNKX 0.54%

Fidelity® Overseas Fund4 FOSFX 1.02% Spartan® International Index Fund - Institutional Class3 FSPNX 0.095%

Fidelity® Pacific Basin Fund2 FPBFX 1.18% American Funds New Perspective Fund® Class R-5 RNPFX 0.49%

Fidelity® Select Pharmaceuticals Portfolio6 FPHAX 0.79% Target Retirement Date Fidelity


Spartan® Emerging Markets Index Fund - Fidelity Advantage Class2

FPMAX 0.35% American Funds New World Fund® Class R-5 RNWFX 0.69%

Fidelity® Puritan® Fund FPURX 0.56% Target Retirement Date Fidelity Freedom K® Fund N/A N/A

Fidelity® Real Estate Investment Portfolio8 FRESX 0.80% Vanguard REIT Index Fund


Fidelity® Real Estate Income Fund8 FRIFX 0.83% Vanguard REIT Index Fund


Strategic Advisers® Income Opportunities Fund of Funds3 FSADX 2.26%

BlackRock Strategic Income Opportunities Portfolio Institutional Shares

BSIIX 0.80%

Fidelity® Select Gold Portfolio6 FSAGX 0.94% Target Retirement Date Fidelity Freedom K® Fund N/A N/A




...they will automatically be directed to these investment options effective December 11



Ratio %1

Fidelity® Select Air Transportation Portfolio6 FSAIX 0.83% Target Retirement Date


Fidelity Asset Manager® 60% FSANX 0.73% Target Retirement Date Fidelity Freedom K® Fund N/A N/A

Fidelity® Select Automotive Portfolio6 FSAVX 0.85% Target Retirement Date


Fidelity® Select Chemicals Portfolio6 FSCHX 0.79% Target Retirement Date


Spartan® Mid Cap Index Fund - Fidelity Advantage Class FSCKX 0.20% Vanguard Small-Cap Index

Fund Admiral Shares VSMAX 0.09%

Fidelity® International Small Cap Opportunities Fund5 FSCOX 1.30% Spartan® International Index


Fidelity® Select Consumer Discretionary Portfolio6 FSCPX 0.79% Target Retirement Date


Fidelity® Small Cap Discovery Fund2 FSCRX 1.06% Vanguard Small-Cap Index


Fidelity® Select Software and Computer Services Portfolio6 FSCSX 0.77% Target Retirement Date


Fidelity® Select Defense and Aerospace Portfolio6 FSDAX 0.79% Target Retirement Date


Fidelity® Select Communications Equipment Portfolio6 FSDCX 0.89% Target Retirement Date


Fidelity® Strategic Dividend & Income® Fund FSDIX 0.74% Target Retirement Date


Fidelity® Select Materials Portfolio6 FSDPX 0.80% Target Retirement Date


Fidelity® Emerging Asia Fund2 FSEAX 1.04% American Funds New Perspective Fund® Class R-5 RNPFX 0.49%

Fidelity® Select Electronics Portfolio6 FSELX 0.78% Target Retirement Date


Fidelity® Select Energy Portfolio6 FSENX 0.79% Target Retirement Date Fidelity Freedom K® Fund N/A N/A

Fidelity® Select Energy Service Portfolio6 FSESX 0.79%

Target Retirement Date Fidelity Freedom K® Fund N/A N/A

Spartan® Extended Market Index Fund - Fidelity Advantage Class8 FSEVX 0.07% Vanguard Small-Cap Index


Spartan® Global ex U.S. Index Fund - Fidelity Advantage Class3 FSGDX 0.28% Spartan® International Index


Fidelity® Short-Term Bond Fund FSHBX 0.45% JPMorgan Total Return Fund Select Class Shares JMTSX 0.88%

Fidelity® Select Medical Delivery Portfolio6 FSHCX 0.79%


Fidelity® Select Construction and Housing Portfolio6 FSHOX 0.82%


Fidelity® Strategic Income Fund FSICX 0.69% BlackRock Strategic Income Opportunities Portfolio Institutional Shares

BSIIX 0.80%

Spartan® International Index Fund - Investor Class 3 FSIIX 0.20% Spartan® International Index








Ratio %1

Spartan® Inflation-Protected Bond Index Fund - Fidelity Advantage Class

FSIYX 0.10% BlackRock Inflation Protected Bond Fund BlackRock Shares BPLBX 0.51%

Fidelity® Select Brokerage and Investment Management Portfolio6

FSLBX 1.10% Target Retirement Date Fidelity Freedom K® Fund N/A N/A

Fidelity® Small Cap Stock Fund5 FSLCX 0.66% Vanguard Small-Cap Index Fund Admiral Shares VSMAX 0.09%

Fidelity® Select Environment and Alternative Energy Portfolio6 FSLEX 0.92% Target Retirement Date


Fidelity® Value Strategies Fund FSLSX 0.69% Victory Integrity Small-Cap Value Fund Class Y VSVIX 1.23%

Fidelity® Stock Selector Large Cap Value Fund FSLVX 0.78% Vanguard Equity-Income

Fund Admiral Shares VEIRX 0.20%

Fidelity® Select Medical Equipment and Systems Portfolio6

FSMEX 0.77% Target Retirement Date Fidelity Freedom K® Fund N/A N/A

Fidelity® Mid Cap Value Fund5 FSMVX 0.83% Victory Integrity Small-Cap Value Fund Class Y VSVIX 1.23%

Fidelity® Select Natural Gas Portfolio6 FSNGX 0.82%


Fidelity® Select Insurance Portfolio6 FSPCX 0.81%


Fidelity® Select Health Care Portfolio6 FSPHX 0.74%


Fidelity® Select Technology Portfolio6 FSPTX 0.78%


Fidelity® Select Banking Portfolio6 FSRBX 0.80%


Fidelity® Select Transportation Portfolio6 FSRFX 0.81%


Fidelity® Select Retailing Portfolio6 FSRPX 0.81%


Fidelity® Strategic Real Return Fund9 FSRRX 0.77%


Spartan® Real Estate Index Fund - Fidelity Advantage Class8 FSRVX 0.19% Vanguard REIT Index Fund


Spartan® Small Cap Index Fund - Fidelity Advantage Class2 FSSVX 0.23% Vanguard Small-Cap Index


Fidelity® Select Telecommunications Portfolio6 FSTCX 0.83% Target Retirement Date


Fidelity® Intermediate Government Income Fund FSTGX 0.45% JPMorgan Total Return Fund


Spartan® Total Market Index Fund - Fidelity Advantage Class10

FSTVX 0.07% Spartan® 500 Index Fund - Institutional Class FXSIX 0.05%

Fidelity® Select Utilities Portfolio6 FSUTX 0.80% Target Retirement Date Fidelity Freedom K® Fund N/A N/A

Fidelity® Select Consumer Finance Portfolio6 FSVLX 0.88%


Fidelity Asset Manager® 30% FTANX 0.55% Target Retirement Date Fidelity Freedom K® Fund N/A N/A







Ratio %1

Fidelity® Total Bond Fund FTBFX 0.45% JPMorgan Total Return Fund Select Class Shares JMTSX 0.88%

Fidelity® Total Emerging Markets Fund2 FTEMX 1.73% American Funds New World

Fund® Class R- RNWFX 0.69%

Fidelity® Intermediate Bond Fund FTHRX 0.45% JPMorgan Total Return Fund


Fidelity® Total International Equity Fund4 FTIEX 1.04% Spartan® International Index


Fidelity® Focused Stock Fund FTQGX 0.78% Fidelity® Contrafund® - Class K FCNKX 0.54%

Fidelity® Trend Fund FTRNX 0.75% Fidelity® Contrafund® - Class K FCNKX 0.54%

Spartan® 500 Index Fund - Investor Class FUSEX 0.10% Spartan® 500 Index Fund -


Spartan® 500 Index Fund - Fidelity Advantage Class FUSVX 0.07% Spartan® 500 Index Fund -


Fidelity® Value Discovery Fund FVDFX 0.80% Vanguard Equity-Income Fund Admiral Shares VEIRX 0.20%

Fidelity® Select Wireless Portfolio6 FWRLX 0.86% Target Retirement Date


Fidelity® Worldwide Fund4 FWWFX 0.96% American Funds New World Fund® Class R-5 RNWFX 0.69%

Fidelity® High Income Fund3 SPHIX 0.72% Lord Abbett High Yield Fund Class A LHYAX 0.94%

Fidelity® Stock Selector Mid Cap Fund FSSMX 0.81%

Goldman Sachs Small Cap Growth Insights Fund Institutional

GSIOX 1.48%

Fidelity® Conservative Income Bond Fund3 FCONX 0.40% New York Life GIA N/A N/A

Fidelity® Limited Term Government Fund FFXSX 0.45% New York Life GIA N/A N/A

Spartan® Short-Term Treasury Bond Index Fund - Fidelity Advantage Class

FSBAX 0.10% New York Life GIA N/A N/A

Fidelity® Cash Reserves FDRXX 0.37% New York Life GIA N/A N/A

Fidelity® Government Money Market Fund SPAXX 0.42% New York Life GIA N/A N/A

Fidelity® Money Market Fund SPRXX 0.42% New York Life GIA N/A N/A

Fidelity® Money Market Trust Retirement Government Money Market Portfolio

FGMXX 0.42% New York Life GIA N/A N/A







Ratio %1

Fidelity® Money Market Trust Retirement Money Market Portfolio

FRTXX 0.42% New York Life GIA N/A N/A

Fidelity® Select Money Market Portfolio FSLXX 0.30% New York Life GIA N/A N/A

Fidelity® Treasury Only Money Market Fund FDLXX 0.42% New York Life GIA N/A N/A

Fidelity® U.S. Government Reserves FGRXX 0.32% New York Life GIA N/A N/A

1A short-term redemption fee will not be charged as part of this reallocation. However, if you request a change before the transition without satisfying the required holding period, you may incur a short-term redemption fee. 2There is a short-term redemption fee of 1.50% for fee eligible shares held less than 90 days. 3There is a short-term redemption fee of 1.00% for fee eligible shares held less than 90 days. 4There is a short-term redemption fee of 1.00% for fee eligible shares held less than 30 days. 5There is a short-term redemption fee of 2.00% for fee eligible shares held less than 90 days. 6There is a short-term redemption fee of 0.75% for fee eligible shares held less than 30 days. 7There is a short-term redemption fee of 1.00% for fee eligible shares held less than 60 days. 8There is a short-term redemption fee of 0.75% for fee eligible shares held less than 90 days. 9There is a short-term redemption fee of 0.75% for fee eligible shares held less than 60 days. 10There is a short-term redemption fee of 0.50% for fee eligible shares held less than 90 days.



RETIREMENT PROGRAM DEFAULT INVESTMENT | FIDELITY:

If you have an investment in a fund designated to be mapped to the Fidelity Freedom K® Fund (based on your date of birth and assuming a retirement age of 65), see below:

Your existing balances as indicated in the mapping chart located in the New Investment Choices section will be directed to a Fidelity Freedom K® Fund. Simply find your date of birth range in the following chart to determine which Fidelity Freedom K® Fund your contributions and existing balances will be directed to.

Date Of Birth Fund Name Ticker Expense Ratio1 Target Retirement Date

Before 1938 Fidelity Freedom K® Income Fund FFKAX 0.43% Retired before 2003

1938 – 1942 Fidelity Freedom K® 2005 Fund FFKVX 0.49% 2003 – 2007

1943 – 1947 Fidelity Freedom K® 2010 Fund FFKCX 0.52% 2008 – 2012

1948 – 1952 Fidelity Freedom K® 2015 Fund FKVFX 0.55% 2013 – 2017

1953 – 1957 Fidelity Freedom K® 2020 Fund FFKDX 0.57% 2018 – 2022

1958 – 1962 Fidelity Freedom K® 2025 Fund FKTWX 0.60% 2023 – 2027

1963 – 1967 Fidelity Freedom K® 2030 Fund FFKEX 0.63% 2028 – 2032

1968 – 1972 Fidelity Freedom K® 2035 Fund FKTHX 0.64% 2033 - 2037

1973 – 1977 Fidelity Freedom K® 2040 Fund FFKFX 0.64% 2038 – 2042

1978 – 1982 Fidelity Freedom K® 2045 Fund FFKGX 0.64% 2043 – 2047

1983 – 1987 Fidelity Freedom K® 2050 Fund FFKHX 0.64% 2048 – 2052

1988 – 1992 Fidelity Freedom K® 2055 Fund FDENX 0.64% 2053 – 2057

1993 and later Fidelity Freedom K® 2060 Fund FDKNX 0.64% 2058 and later


Before investing in any mutual fund, consider the investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

The Fidelity Freedom K® Funds are designed for investors expecting to retire around the year indicated in each fund’s name. The funds are managed to gradually become more conservative over time as they approach the target date. The investment risk of each Freedom K® Funds changes over time as the fund’s asset allocation changes. The funds are subject to volatility of the financial markets, including that of equity and fixed income investments in the U.S. and abroad, and may be subject to risks associated with investing in high-yield, small-cap, and foreign securities. Principal invested is not guaranteed at any time, including at or after the funds’ target dates.

A mutual fund expense ratio is the total annual fund or class operating expenses (before waivers or reimbursements) paid by the fund and stated as a percentage of the fund's total net assets. For other types of investments, the figure in the expense ratio field reflects similar information, but may have been calculated differently than for mutual funds. Mutual fund data comes from the fund's prospectus. For non–mutual fund investment options, the information has been provided by the plan sponsor, the investment option's manager, or the trustee. When no ratio is shown for these options, it is because none was available. There may be fees and expenses associated with the investment option. Expense information changes periodically. Please consult NetBenefits for updates.

Investing involves risk, including risk of loss.

Fidelity Brokerage, Service LLC, Member NYSE, SIPC, 900 Salem Street, Smithfield, RI 02917 738212.1.0

1 Expense ratios are gross expenses as of June 30, 2015, For the most recent prospectuses, please visit netbenefits.com/fordham for any waivers and reimbursements that may be available.

(cont.)

Why are updates being made to the Fordham University Retirement Program?

Fordham is committed to providing you with the best opportunities for reaching your retirement objectives. These changes reflect efforts to ensure that you have investment options that will help you meet your retirement goals through carefully selected investment options, valuable investment tools and advice, enhanced communication and personalized service through TIAA-CREF and Fidelity.

How can I learn more about the new investment choices? The new investment lineup is included in this guide. For fund descriptions and performance information, log on to www.tiaa-cref.org/fordham or www.netbenefits.com/fordham. If you want additional assistance understanding or choosing investments, attend one of the upcoming presentations scheduled for all campuses or set up a phone call or one-on-one consultation with TIAA-CREF or Fidelity.

If I am happy with my current investment choices, can I keep them? If your current investment choices are included in the new lineup, you can keep them. Some investment options, however, will not be available after the transition date. Please review the new investment lineup and transfer information in this Guide to understand how your investments may be affected. TIAA-CREF’s investment lineup information can be found on pages 8-12. Fidelity’s investment lineup information can be found onpages 13-25. Most importantly, ask questions and request assistance when you need it.

FORDHAM UNIVERSITY RETIREMENT PROGRAM Q & A




http://www.netbenefits/fordham

FORDHAM UNIVERSITY RETIREMENT PROGRAM CONTACTS


TIAA-CREF PHONE

Call 800 842-2252 Monday through Friday, 8 a.m. – 10 p.m., or Saturday, 9 a.m. – 6 p.m. (EDT).

ONLINE

Visit www.tiaa-cref.org/fordham to learn about the program’s investment choices, make transactions, and access retirement planning tools.

ONE-ON-ONE COUNSELING SESSIONS

Get individual retirement plan advice on the plan’s investment options from a TIAA-CREF Financial Consultant. This service is available as part of your retirement program at no additional cost to you. To schedule a session, call 800 732-8353, Monday through Friday, 8 a.m. – 8 p.m. (EDT), or visit www.tiaa-cref.org//fordham to schedule now.

FIDELITY INVESTMENTS PHONE

Call 800 343-0860 Monday through Friday, 8 a.m. – 8:30 p.m. (EDT).

ONLINE

Visit www.netbenefits.com/fordham to learn about the program’s investment choices, make transactions, and access retirement planning tools.

ONE-ON-ONE CONSULTATIONS

To schedule an individual consultation with a Fidelity Workplace Planning & Guidance Consultant on campus. This service is available as part of your retirement program at no additional cost to you. To schedule a session, call 800 642-7131, Monday through Friday, 8 a.m. – Midnight. (EDT), or visit www.netbenefits.com/fordham to schedule now.









Unless otherwise noted, the information herein has been provided by Fordham University.

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