<<EmployerName>> is pleased to offer you a retirement plan as a benefit to help you save and invest for retirement. It’s one way to thank you for your contribution to the organization’s success.
This booklet walks you through the basics of the <<PlanName>> and how to get started. You’ll also find information to help you make a plan for your life in the future that works for your life right now.
Please review the enclosed information carefully to get started as soon as you can.
If you have questions or for more information, please visit <<Website>>, <<BenAdmin>>
<<Broker1>> <<Broker2>> <<Broker3>>
We hope you’ll take full advantage of this important benefit.
<<SignBlock>>
RS2070_WELCOME 614
Welcome
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Two easy ways to monitor and manage your account.
1. ONLINE
Log into our website at <<website>>. Here you
can access powerful retirement planning tools and
calculators, and manage your account — anytime,
from virtually anywhere.
You’ll be able to:
• Obtain current account balances
• Change your investment options
• Perform account transactions
<<Access_SPR>>
• Transfer (exchange) balances between investment
options*
• Check current investment prices and performance
<<Access_Statements>>
• View and download your quarterly electronic
statements
If you are having trouble accessing your account for
the first time, please contact your Participant Service
Center at << >> r assistance.
* You are allowed to submit a total of 20 transfer requests each calendar year for your participant account by any permitted means. Once these 20 transfers have been requested, you may submit any additional transfer requests only in writing by U.S. mail. Transfers as a result of dollar-cost averaging (if applicable) do not count toward the 20-transfer limit. Each calendar year, MassMutual resets your transfers to allow 20 new transfers by all
approved methods.
2. BY PHONE
<<Access_Phone>>
RS2070_ACCESS 714
<<QuickLink>>
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QUICK LINK TIP
Want quick access to your account?1. Go to www.massmutual.com/serve,
www.massmutual.com/retirementaccess.
2. Click Login at the top right of the screen.
[3. Click Retirement Access.
3./4.] Log in to view or manage your account.
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1
Group Number: Social Security Number: Employer:
Employee Name: Last, First,M.I.Name Change? Please provide documentation
Mailing Address:New?
City: State: Zip:
Home Phone: Work Phone: Ext:
BENEFICIARY INFORMATIONPlease complete the Beneficiary Designation including name, address, phone number, Social Security Number, date of birth,
relationship and percentage of death benefit. The percent of benefit must total 100% for all primary beneficiaries named. If
naming contingent beneficiary(ies) the total percentage for this designation must equal 100%. Married residents of community
property states may want to seek legal advice if naming a non-spouse Primary Beneficiary.
Type of Beneficiary: Examples of Designations:
One Beneficiary Jane Doe, wife, 100%
Two or more Primary Beneficiaries, John Doe, son, 33%
equally among the survivors Carol Smith, daughter, 33%
Mark Doe, son 34%
or equally among the survivors
Two or more Primary Beneficiaries, John Doe, son, 33%
with their share to their children Carol Smith, daughter, 33%
Mark Doe, son 34%
per stirpes
Primary and Contingent Beneficiaries Primary: Jane Doe, wife, 100% if living;
Contingent: John Doe, son, 33%
Carol Smith, daughter, 33%
Mark Doe, son 34%
either equally among the survivors
or per stirpes
Participant’s Estate Participant’s Estate
Trustee Jane Doe, trustee under trust
agreement* dated...
* Date of the execution of the trust agreement or a copy of the trust agreement must be provided.Primary Beneficiary(ies) name, address and phone no. Social Security No. Date of Birth Relationship %
Contingent Beneficiary(ies) name, address and phone no. Social Security No. Date of Birth Relationship %
The execution and the delivery of this form to the offices of MassMutual revokes all prior beneficiary designations that I have
made. I understand that this beneficiary designation will not take effect until it has been received in good order by MassMutual.
Employee Signature DateMail this Beneficiary Designation to MassMutual at the address above. Keep a copy for your records.
PRIMARY TOTAL: 100%
CONTINGENT TOTAL: 100%
Beneficiary Designation/ Name & Address Change - 457(b) and 401(a)
HVL-464-4 Rev. 1.14 Please provide a copy of this Beneficiary Designation to your Employer. benedcp.pdf
Mail Address:MassMutual Retirement Services
PO Box 1583
Hartford, CT 06144-1583
Overnight Mail AddressMassMutual Retirement Services
1 Griffin Road North
Windsor, CT 06095-1512
MassMutual Retirement Services (MMRS) is a division of Massachusetts Mutual Life Insurance Company (MassMutual) and its affiliated
companies and sales representatives.
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3
Rollover In/Plan-to-Plan Account Transfer In Form 457(b)
Section C - Type of Request
Section A - Plan Information Plan NameGroup No.
Use this form if you want to: • submit a rollover in. • submit a plan-to-plan transfer in. Do not use this form to: • transfer your account from another provider under your current plan to MassMutual Retirement Services ("MassMutual"). Complete a Provider-to-Provider Transfer Form. • Complete one form for each rollover or transfer. • Indicate the Type of Request in Section C. • Complete the appropriate information in Section D. • Attach a current statement of your account of the amount you intend to rollover or transfer. MassMutual will not process this form until it is received in good order. Please see the Important Information Section for information on "Good Order" requirements.
plandcp.pdf
Questions? Call MassMutual’s Customer Service Center 1-800-528-9009 Fax 877-526-2531 or 800-678-8645 Online massmutual.com/serve
Section B - Participant Information
Select one option:
GPROCESS/ GROLOVERIN
*We will change your account information to reflect the Legal Address above and all future mailings will be sent to this address unless changed by you or your Plan Administrator as described under "Stale Address" in the Important Information Section.
* Legal Address
Date of BirthParticipant NameSSN
Financial Advisor's Name
Financial Advisor's Phone Number
Daytime Phone Number
State Zip CodeCity
Financial Advisor's Email
A PLAN-TO-PLAN TRANSFER is funds moved from one 457(b) plan to another 457(b) plan 1. Any beneficiary or participant who has had a severance from employment from the transferring employer and who is performing services for the receiving employer, may initiate a transfer whether or not the plans are within the same state. 2. If all of the plan's assets are being transferred to another eligible government plan within the same state, no severance from employment is required. 3. If the transfer is from one eligible governmental plan to another of the same employer, no severance from employment is required. By checking this box, if you are moving funds from a current or previous employer’s 457(b) Plan into your MassMutual 457(b) account, this is considered a PLAN-TO-PLAN TRANSFER. You acknowledge and understand that you will not be able to withdraw the transferred amount until you are eligible to take a distribution under your account at MassMutual in accordance with the terms of the Plan.
A ROLLOVER is funds moved from either: • Previous employer's 403(b), 401 or 457(b) plan, OR • Individual Retirement Account
A rollover occurs when you take an eligible rollover distribution from your 457 retirement plan and move (or "roll") some or all of the proceeds into a separate employer-sponsored retirement plan that accepts the rollover under the terms of the plan and the Internal Revenue Code, or into an IRA. In order to request a rollover from your 457 plan, you must first be eligible to take a distribution (e.g., due to separation from service, death, disability, or certain plan terminations, as defined by the plan document and permitted under the contract.).
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5
Section D - Rollover/Transfer Request
401 qualified plan (including 401(k) or 403(a) qualified annuity plans)
all amounts OR
403(b) tax sheltered plan
408 IRA including simplified employee pension and simple retirement accounts
ROLLOVER:
credited to my deferred compensation account at MassMutual. Note: An amount distributed from a 457(b) plan is not subject to an excise tax on early distributions, except to the extent it consists of amounts previously rolled over to the 457(b) plan from a 401, 403(b) plan or an IRA. The eligible rollover distribution is coming from an eligible retirement plan identified under Code section:
be liquidated from the retirement program indicated below and be I request that
plandcp.pdf
Governmental 457(b) eligible deferred compensation plan sponsored by a governmental employer
457(b) PLAN-TO-PLAN TRANSFER:
This option is available under the Code and may be an option available under a given retirement program. You cannot transfer amounts between government sponsored and tax-exempt sponsored 457(b) plans.
I request a Code Section 457(e)(10) plan-to-plan transfer of all amounts ORfrom a Code Section 457(b) eligible deferred compensation plan.
__________________________________________________________ _________________________ Former Employer's Authorized Plan Administrator’s Signature Date
$
$
If your contract includes a Roth Contributions feature, check here to indicate that designated Roth contributions will be included.
Provider Account Number
Address Phone Number
Rollover From:
If your contract includes a Roth Contributions feature, check here to indicate that designated Roth contributions will be included.
Provider Account Number
Address Phone Number
Transfer From:
Note that you cannot include Roth IRA amounts in this account.
Note that you cannot include Roth IRA amounts in this account.
6
Section F - Current Plan Administrator's Acceptance of Rollover or Transfer
__________________________________________________________ _________________________ Authorized Plan Administrator’s Signature Date ____________________________________________________________ Authorized Plan Administrator’s Name (please print)
plandcp.pdf
Section H - Important Information
The authorized signature below certifies eligibility and acceptance of the rollover or transfer as instructed in this request.
Good Order - "Good Order" means that all sections of the form are complete, the participant has provided their signature authorizing the transaction, the former Plan Sponsor has provided their signature (if required) and the current Plan Sponsor has provided their signature authorizing MassMutual to process the transaction requested on the form (if required). MassMutual - MassMutual Retirement Services (MMRS) is a division of Massachusetts Mutual Life Insurance Company (MassMutual) and its affiliated companies and sales representatives. Stale Address – It is important that you notify us if you change your address. Going forward, your address may change in our records either at your or your employer's direction, or as a result of an address confirmation service provided under our agreement with your employer. Under this service, the addresses in our records are compared against and updated quarterly with addresses received from commercial address update services (e.g., the U.S. Postal Service). If your mail is returned to us or your employer tells us your address is incorrect, we are likely to suspend future mailings until a new address is obtained. Unless preempted by federal law, failure to give us a current address may also result in uncashed distributions from your participant account being considered abandoned property under state law, and remitted to the applicable state. To update your address, contact your Plan Administrator or, if permitted by your Plan, log in to our website at massmutual.com/serve and select the "My Profile" tab at the top of the screen.
Section G - Payment InformationFor payments made by check, make check payable to: MassMutual FBO Mail check and this form to: Regular Mail: MassMutual Retirement Services Overnight Mail: MassMutual Retirement Services P.O. Box 1583 1 Griffin Road North Hartford, CT 06144-1583 Windsor, CT 06095-1512
Social Security No.Employee Name
Include the following information: Credit Massachusetts Mutual Life Insurance Company FBO: Employee Name
Employer Name
Social Security No.
Group No.
For payments made by ACH or Wire, forward to: Mellon Bank Three Mellon Bank Center Pittsburgh, PA 15259-0001 Money Transfer Dept. ABA-043000261 Account No 1957963
I understand that if I am currently enrolled in the Plan, my rollover or transfer will be allocated among the investment options based upon my current investment elections unless Special Instructions are provided below to invest my rollover or transfer.
____________________________________________________ _________________________ Participant Signature Date
Section E - Participant Authorization
Special Instructions:
7
Group Number: Social Security Number:
Employer: Department/ Location:
Plan Name:
Participant Name: (Last, First, M.I.)Name Change? Please provide documentation
Mailing Address:New?
City: State: Zip:
Home Phone: Work Phone: Ext:
A. CONTRIBUTION CHANGE- BEFORE-TAX CONTRIBUTIONS
Increase Employee $ or % Employer $ or % Total Contribution Frequency* Annual ContributionDecrease
From $ + = x =Resume Suspend To $ + = x =
IF YOU ARE UTILIZING THE PRE-RETIREMENT CATCH-UP PROVISION PLEASE COMPLETE A PRE-RETIREMENT CATCH-UP
NOTIFICATION AND SUBMIT IT TO MASSMUTUAL.
B. ROTH - AFTER-TAX CONTRIBUTIONS
Only complete this section if your contract includes a Roth contributions feature.
Increase Employee $ or % Frequency* Annual ContributionDecrease
From $ x =Resume Suspend To $ x =
C. EMPLOYEE SIGNATURE
By execution of this document, the Employee authorizes that any Before-Tax Contributions or Roth After-Tax Contributions
indicated above be made by reducing the Employee’s salary. This agreement shall continue to be in effect only while
employment with the Employer continues or until it is altered in accordance to your plan provisions.
__________________________________________ _________________________Employee Signature Date
D. EMPLOYER SIGNATURE
By execution of this document the Employer agrees that any Before-Tax Contributions or Roth After-Tax Contributions indicated
above be made by reducing the Employee’s salary. This agreement shall continue to be in effect only while employment with
the Employer continues or until it is altered in accordance to your plan provisions.
__________________________________________ _________________________Employer Signature Date
Submit this Contribution Change Form to your Employer. MassMutual Retirement Services (MMRS) is a division of Massachusetts Mutual Life Insurance Company (MassMutual) and its affiliated
companies and sales representatives.
I am utilizing the plan's age 50+ catch-up provision. (You must be age 50 or older by the end of the calendar year in which
this deferral election is effective. This provision is only available where the plan is sponsored by a governmental employer.)
Contribution Change Form - 457(b) Deferred Compensation
for Employer Use Only
* FrequencyMonthly = 12Bi-Weekly = 26Semi-Monthly = 24Weekly = 52Other:
* FrequencyMonthly = 12Bi-Weekly = 26Semi-Monthly = 24Weekly = 52Other:
620051
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9
Group Number: Participant Number: Social Security Number:
Employer: Department /Location
Plan:
Participant Name: (Last, First, M.I.)Name Change? Please provide documentation
Mailing Address:
New?
City: State: Zip:
Home Phone: Work Phone: Ext:
A. PRE-RETIREMENT CATCH-UP NOTIFICATION
Normal Retirement Age (as defined in the Plan document): _________
Three consecutive year Pre-Retirement Catch-up Period: ___________, ___________, ___________ (ends with calendar year
preceding calendar year in which you will attain Normal Retirement Age.)
Total Pre-Retirement Catch-Up Amount: $___________________.
In accordance with the terms of the Plan and my Employer's established policies and procedures, my normal retirement age is as
stated above. For the Pre-Retirement Catch-Up Period stated above, I am eligible to defer additional amounts in accordance with
and subject to the pre-retirement catch-up rule set forth in the Plan and at Internal Revenue Code Section 457(b)(3). In accordance
with this rule, during this period, I am eligible to defer, in total, the lesser of the amount stated above or the limits imposed under
Internal Revenue Code Section 457(b)(3). The amount stated above represents the amount of previously underutilized limitations
determined under the Plan.
Employee Signature Date
B. EMPLOYER SIGNATURE
We the undersigned understand and agree that the Participant is eligible to make deferrals to the Plan in excess of the standard
limit imposed under Internal Revenue Code Section 457(b)(2)(A) up to the limit imposed by Section 457(b)(3) for the Pre-
Retirement Catch-Up Period set forth above.
Employer Date
Instructions:1. Submit the completed Notification to MassMutual at the address above.2. Provide a copy to your Employer and complete a salary deferral agreement. 3. Keep a copy for your records.
MassMutual Retirement Services (MMRS) is a division of Massachusetts Mutual Life Insurance Company(MassMutual) and its affiliated companies and sales representatives.
Form HVL-462-3 Rev. 3.14 chupdcp.pdf
Pre-Retirement Catch-up Notification
Mail Address:MassMutual Retirement ServicesPO Box 1583Hartford, CT 06144-1583
Overnight Mail Address:MassMutual Retirement Services1 Griffin Road NorthWindsor, CT 06095-1512
620051
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INVESTOR SELF-ASSESSMENT QUESTIONNAIRE
This questionnaire can help you determine your investing comfort zone and what type of investment mix might be best for your goals and objectives. Add up the points for each question and check your score on the following page to help you select your investment mix.
1. Which hypothetical investment option would you choose?
FIRST YEAR RETURN POTENTIAL
First-year gain (max) Chance of first-year loss
8% increase 0% 0
20% 20% 2
25% 33% 4
2. My main objective for my investment portfolio is to:
Avoid losses 0
Keep pace with the stock market 2
Outperform the stock market 4
3. If my $100,000 long-term investment dropped in value to $85,000 after one year and rose to $125,000 after two years, I would be:
Extremely uncomfortable – I would move my money immediately to a lower risk investment to protect my gain 0
Slightly uncomfortable – I would move my money to a lower risk investment to protect my gain 2
Comfortable – I would maintain my investment 4
4. If I could potentially get a higher rate of return by accepting greater volatility in my portfolio, I would:
Accept a lot more volatility 4 Accept slightly more volatility 2 Not accept any more volatility 0
5. Below are five investment models with hypothetical maximum returns and maximum losses over a one-year period. I would feel most comfortable investing in:
Portfolio A 4 Portfolio B 3 Portfolio C 2 Portfolio D 1 Portfolio E 0
6. If my $100,000 long-term investment declined in value during the first year, I would move it to a lower risk investment when it declined in value to:
$95,000 (loss of 5%) 0 $90,000 (loss of 10%) 1 $85,000 (loss of 15%) 2 $80,000 (loss of 20%) 3 I would not move it 4
7. A hypothetical $100,000 investment has the possibility of losing $10,000 in the first year. What is the minimum potential one-year gain you would accept given the possibility of loss for you to be comfortable with this investment?
$10,000 4 $25,000 3 $35,000 2 $45,000 2 I would not risk losing that amount of money 0
��������� ����areyou?
-20%
-10%
0%
10%
20%
30%
40% 42.05%
35.22%
29.25%
22.32%17.00%
-14.39%-11.27%
-8.52%-5.18%
-3.19%
A B C D E
71
8. When attempting to achieve my investment goals:
I don’t want my portfolio to lose any value, even if it will take longer to achieve my investment goals 0
I will tolerate small fluctuations in my portfolio’s value 1
I will tolerate moderate fluctuations in my portfolio’s value 2
I will tolerate large fluctuations in my portfolio’s value 3
I will tolerate extreme fluctuations in my portfolio’s value 4
Tally your results by adding the points from questions 1 through 8.
Your total _____________
RS2070_ QUIZ 614
INVESTOR SELF-ASSESSMENT SCORE
Find your total score in the chart below, along with your retirement timeline, to see what type of investment mix may be best for you. This chart is only a guide. Please determine your own investing comfort zone.
YEARS TO RETIREMENT 0–3 POINTS 4–11 POINTS 12–22 POINTS 23–28 POINTS 29–32 POINTS
0–3 years Conservative Conservative Conservative Conservative Conservative
3–5 years Conservative Moderate Moderate Moderate Moderate Conservative Conservative Conservative Conservative
5–7 years Conservative Moderate Moderate Moderate Moderate Conservative
7–12 years Conservative Moderate Moderate Moderate Moderate Conservative Aggressive Aggressive
12+ years Conservative Moderate Moderate Moderate Aggressive Conservative Aggressive
Investor Self-Assessment Questionnaire is provided by Mesirow Financial Investment Management, Inc. Mesirow Financial Investment Management, Inc. is an SEC-registered investment advisor and is not an affiliate or subsidiary of MassMutual.
The results of this questionnaire are intended to help you identify what your optimal asset allocation model may be. The questionnaire is not intended to provide a complete investment profile or to offer individual advice. Mesirow Financial created these risk-based asset allocation models using the following six asset classes: Large Cap Blend Domestic Equity; Mid Cap Blend Domestic Equity; Small Cap Blend Domestic Equity; Large Cap Blend foreign Equity; Intermediate-Term Domestic Bond; and Cash Equivalent/Principal Focused-Extended Duration.
81
Asset allocation is the strategy of spreading your account contributions over a variety of investment categories and/or individual investments. here are five examples of risk-based investment mixes that you may use as a guide when selecting your investment options.
Note: The sample portfolios are illustrative only and do not represent actual investment mixes.
AssetClasses
����������� :risk-basedinvestmentmodels
Aggressive model For investors who are willing and able to stay the course through short-term volatility and want the potential for high portfolio returns over the long term. They should have a long time horizon and a high tolerance for risk, as frequent short-term losses and extreme volatility are to be expected.
Moderate aggressive model For investors with a longer time horizon. While their portfolio will typically have a higher than average volatility, it may provide for the potential of higher than average returns over the long term. Investors should be willing to accept short-term losses and less stable returns.
Moderate model For investors who are equally concerned with balancing their level of risk and return. They look to have returns in excess of inflation and increase value over the long term. Should be willing to accept short-term losses and fluctuations in portfolio value.
Moderate conservative model For investors attempting to avoid a loss of assets in the short term, with a secondary objective of seeking a higher return over the long term to mitigate the effects of inflation. The portfolio may have some relative stability, but in order to combat inflation, some fluctuations in the portfolio should be expected.
Conservative model For investors with short-term investment horizons, who want to minimize the potential for loss of value and who are looking for stability of assets. Portfolio may have steady and more predictable returns than more aggressive portfolios. Investors should be willing to forgo the potential for higher long-term returns for stability.
Take some time today to learn about your plan’s investment options to help you make informed decisions.
Asset Allocation modeling offered by Mesirow Financial Investment Management, Inc. Mesirow Financial Investment Management, Inc. is an SEC-registered investment advisor and is not an affiliate or subsidiary of MassMutual.
The information provided in this presentation by Mesirow Financial Investment Management, Inc. is for informational purposes only and should not be construed as a recommendation to purchase or sell any particular security or investment vehicle(s) offered by Mesirow Financial Investment Management, Inc. (MFIM) or affiliates of MFIM. The information contained herein has been obtained from sources believed to be reliable, but is not necessarily complete and its accuracy cannot be guaranteed. Any opinions expressed are subject to change without notice. Mesirow Financial and its affiliated companies and/or individuals may, from time to time, own, have long or short positions in, or options on, or act as a market maker in, any securities or investment strategies discussed herein and may also perform financial advisory or investment banking services for those companies or in regard to those strategies. Further, Mesirow Financial may receive fees for selling or advising on the purchase or sale of products mentioned herein. Additionally, Mesirow Financial may also receive fees paid by manufacturers or distributors of said products in connection to other professional services provided by the applicable Mesirow Financial affiliate. The sale or advice provided is in no way related to or contingent upon the payment received for these other services. It should not be assumed that any recommendation incorporated herein will be profitable or will equal past performance. Mesirow Financial does not provide legal or tax advice. Model performance information and results do not reflect actual trading and the results may not reflect the impact that material economic and market factors may have had on MFIM’s decision making if MFIM were actually managing clients’ money. Any securities contained or investment strategies used in the model performance results provided herein do not relate or only partially relate to the advisory services currently offered by MFIM. MFIM’s clients may have had results materially different from the results provided. Securities offered through Mesirow Financial Investment Management, Inc., member NYSE, SIPC.
RS2070_ QUIZ 614 91
UndeRstanding YOUR investment OPtiOns.
Your plan offers a variety of investments, whichare made up of different types of securities, asdescribed below.
Money market/Stable value investmentsthese short-term investments are designed to providea steady rate of return, greater investment stability, anda relatively lower level of risk. although the portfolioseeks to preserve the value of your investment at $1.00per share, it is possible to lose money in a stable valueinvestment, and the yield will fluctuate with changes inmarket conditions. Over time, these investments haveprovided lower returns than stock or bond funds.investments in a money market account are not insuredor guaranteed by the Federal deposit insuranceCorporation or any other government agency.
Bondsbonds represent “loans” investors make tocorporations, governments or agencies, and aredesigned to provide stability, income, and someappreciation in value. if held to maturity, bonds offer afixed rate of return and a fixed principal value. bondsgenerally offer a potentially higher return than moneymarket/stable value investments and a lower returnthan stocks. the value of bonds usually fluctuates lessthan stocks. However, corporate bonds, U.s. treasurybills, and government bonds will fluctuate in value,and the return of principal is not guaranteed if soldbefore maturity.
Stocksstocks represent part ownership in a business and aremeant to provide long-term growth by increasing invalue. some stocks also provide dividend income.Historically, stocks have outperformed other types ofinvestments over the long term. However, stocksfluctuate in value more than money market/stablevalue investments or bonds, and when sold may beworth more or less than their original cost. keep inmind that you can’t predict future results based onhow the market performed in the past.
Balanced investmentsbalanced investments consider the risk and returnpotential of each asset class and invest a percentageof assets in both stocks and bonds, along with a smallamount in stable value investments for liquidity.
International stocksinvestments in stocks issued by foreign businessesprovide investors with potential long-term growth ofcapital while helping to diversify their portfolios.Foreign stocks may offer greater returns than U.s.investments but also involve higher risks relating tointerest and currency exchange rates, securitiesregulation, and taxes, as well as unstable economic orpolitical conditions. international stocks fluctuate invalue and may be worth more or less than theiroriginal cost. global investments have assets in bothforeign and U.s. stocks.
large-cap* stocksLarge-cap stocks are shares in large, financiallyestablished “blue chip” companies with a market capof over $10 billion. the goal of these investments isthe long-term growth of capital. Risk and return aretypically moderate to high.
Mid-cap* stocksthese shares in companies in the $2 billion to $10billion market cap range seek long-term growth. sincemid-cap stocks may fluctuate more widely than themore stable large-cap stocks, there is a potential forgreater long-term growth as well as higher risk.
Small-cap* stockssmall-cap stocks represent companies with a marketcap of $300 million to $2 billion. Over long periods oftime, small-cap stocks have had higher returns thanlarge-cap stocks, which makes them attractive toaggressive investors. at the same time, they are muchmore volatile and have higher short-term risk.
Specialty stocksspecialty investments are concentrated in a specificarea of the market, such as technology or health care.because they are focused on a small market segment,these investments tend to have both a higher risk andhigher potential for return than more diversifiedinvestments.
all investments possess some element of risk,including possible loss of principal. Past performanceis no guarantee of future results.
*the term “cap” is short for market capitalization, which iscalculated by multiplying the price of a stock by thenumber of outstanding shares. generally speaking, thisrepresents the market’s estimate of a company’s value.
02
Investment options at a glance
How much risk you are comfortable with is an important consideration in choosing how you allocate your assets. How do you feel about investment risk – the chance that your investments could lose money? You also need to think about inflation risk – the risk that conservative investments such as short-term investments may not keep pace with inflation. Investing in more than one asset class – or a blend of them – may help you to balance your risk.
Investment Options RISK/RETURN SPECTRUMFor illustrative purposes only; please consult an investment profile or prospectus for detailed risk/return information.
RS2070_RISKRET 814
KSIR REHGIH/NRUTER REHGIH
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labolG/lanoitanretnI 2 4R htworG cificaPoruE sdnuF naciremA A yrevocsiD labolG lautuM nilknarF
AI SLH seitinutroppO lanoitanretnI droftraH A stekraM gnipoleveD remiehneppO
pac-llamS 3 VNI eulaV paC llamS yrutneC naciremA A htworG gnipoleveD ttebbA droL
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pac-diM 4 VNI paC diM nasitrA A seitinutroppO eulaV ttebbA droL
A ytiuqE eulaV paC-diM htroWegdiR VNI xednI paC-diM draugnaV
pac-egraL I lanoitutitsnI noitaicerppA latipaC reglA A noitaicerppA latipaC kcoRkcalB
AI SLH noitaicerppA latipaC droftraH AI SLH eulaV droftraH
A emocnI dna htworG ocsevnI VDA kcotS htworG ecirP ewoR .T
larimdA xednI 005 draugnaV
*decnalaB/noitacolla tessA otsevnI 5102 tnemeriteR tegraT draugnaV otsevnI 5202 tnemeriteR tegraT draugnaV otsevnI 5302 tnemeriteR tegraT draugnaV otsevnI 5402 tnemeriteR tegraT draugnaV
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Ve
AllianceBernstein Discovery Growth Investment Option
_Risk/Return Spectrum
Stable Value/Money Market Bond Asset Allocation/
BalancedLarge Cap Mid Cap Small Cap International/
Global Specialty
Mid-cap investing generally have higher risk and return characteristics than large-company stocks.
_Volatility Prof le i
The volatility profile is a measure of the level of risk of the underlying fund and is based on a ranking of the three year standard deviation of the fund’s performance. The ranking is compared against other funds within the same broad category group. The higher the volatility, the higher the variation in returns.
_Strategy
_Portfolio Statistics As of 12/31/2012
Inception Date: 7/7/1938 Net Assets ($ in millions): $1 026 92
Investment Advisor: AllianceBernstein LP Portfolio Manager: Team Managed
This investment option is available to your plan through a group variable contract offered to fund retirement programs. Your plan invests in the separate account which invests directly in the mutual fund.
The investment seeks long-term growth of capital. The fund invests primarily in a diversified portfolio of equity securities with relatively smaller capitalizations as compared to the overall U.S. market. It normally invests at least 80% of its net assets in the equity securities of small- and mid-capitalization companies. The fund may invest in foreign securities. It invests up to 20% of total assets in rights and warrants. The fund invests in approximately 60-120 stocks broadly diversified by sector.
Large
Mid
Small
Value Blend Growth
VRU Code: 763
Morningstar Category Mid-Cap Growth
Morningstar Style Box
As of 12/31/2012
Asset Allocation % Assets
Stock .........................................................94.70 Foreign Stock ..............................................3.68 Bond ........................................................... 0.00 Foreign Bond ...............................................0.00 Preferred ..................................................... 0.00 Convertible ..................................................0.00 Cash ............................................................1.45 Other ........................................................... 0.17 Total 100.00% Largest Holdings % Assets
Cadence Design Systems, Inc. ....................1.93 Ulta Salon Cosmetics & Fragrances, Inc. ....1.89 Panera Bread Company, Inc. Class A ..........1.81 CoStar Group, Inc. ...................................... 1.79 U it d R t l I 1 76
Publication Date 1Q 2013
Sample Investment Option
RS1928 413
Ve
Alger Capital Appreciation Institutional Investment Option
Processing and publication dates vary by fund company resulting in potential variations in “as of” dates. Information contained herein is subject to change at any time, and may vary based on underlying fund and/or share class considerations (if applicable). Certain sections, if shown, may not add up to 100% due to rounding. Morningstar Category: identifies funds based on investment styles as measured by their underlying portfolio holdings/statistics over 3 years. Investment options can move into other categories, or Morningstar may change their classification methodology. © 2013 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. © 2013 Massachusetts Mutual Life Insurance Company, Springfield, MA 01111-0001. All rights reserved. www.massmutual.com. MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) [of which Retirement Services is a division] and its affiliated companies and sales representatives. RS-31547-00.
_Risk/Return Spectrum
Stable Value/Money Market Bond Asset Allocation/
BalancedLarge Cap Mid Cap Small Cap International/
GlobalSpecialty
Investing in companies of all capitalizations involves the risk that smaller, newer issuers in which the fund invests may have limited product lines or financial resources, or lack management depth.
_Volatility Prof le i
The volatility profile is a measure of the level of risk of the underlying fund and is based on a ranking of the three year standard deviation of the fund’s performance. The ranking is compared against other funds within the same broad category group. The higher the volatility, the higher the variation in returns.
_Strategy
_Portfolio Statistics As of 11/30/2014
Inception Date: 11/8/1993 Net Assets ($ in millions): $3,492.14 Number of Stock Holdings: 138
Investment Advisor: Fred Alger Management, Inc. Portfolio Manager: Patrick Kelly
This investment option is available to your plan through a group variable contract offered to fund retirement programs. Your plan invests in the separate account which invests directly in the mutual fund.
The investment seeks long-term capital appreciation. The fund normally invests at least 85% of its net assets, plus any borrowings for investment purposes, in equity securities of companies of any market capitalization that the adviser believes demonstrate promising growth potential. It can leverage, that is, borrow money to buy additional securities. The fund can also invest in derivative instruments.
Large
Mid
Small
Value Blend Growth
VRU Code: 496
Morningstar Category Large Growth
Morningstar Style Box
As of 11/30/2014
Asset Allocation % Assets
Stock .........................................................87.23 Foreign Stock ..............................................9.95 Bond ........................................................... 0.00 Foreign Bond ...............................................0.00 Preferred ..................................................... 0.00 Convertible ..................................................0.00 Cash ............................................................2.32 Other ........................................................... 0.49 Total 99.99% Largest Holdings % Assets
Apple Inc .....................................................6.15 Facebook Inc Class A ..................................4.03 Actavis PLC .................................................3.71 Google Inc Class C ......................................2.74 Microsoft Corp ............................................2.25 Gilead Sciences Inc .....................................2.24 CVS Health Corp ......................................... 2.10 Honeywell International Inc .........................1.96 Hilton Worldwide Holdings Inc ................... 1.84 Home Depot Inc ..........................................1.78 Total 28.80% Diversification % Assets
Basic Materials ............................................2.84 Consumer Cyclical .................................... 15.48 Financial Services ....................................... 8.94 Real Estate .................................................. 0.69 Consumer Defensive ................................... 4.27 Healthcare ................................................. 20.63 Utilities ........................................................0.21 Communication Services ............................ 2.30 Energy .........................................................3.87 Industrials ................................................. 11.09 Technology ................................................29.69 Total 100.01%
Publication Date 1Q 2015
Ve
American Century Inflation Adjusted Bond Investment Option
Processing and publication dates vary by fund company resulting in potential variations in “as of” dates. Information contained herein is subject to change at any time, and may vary based on underlying fund and/or share class considerations (if applicable). Certain sections, if shown, may not add up to 100% due to rounding. Morningstar Category: identifies funds based on investment styles as measured by their underlying portfolio holdings/statistics over 3 years. Investment options can move into other categories, or Morningstar may change their classification methodology. © 2013 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. © 2013 Massachusetts Mutual Life Insurance Company, Springfield, MA 01111-0001. All rights reserved. www.massmutual.com. MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) [of which Retirement Services is a division] and its affiliated companies and sales representatives. RS-31547-00.
_Risk/Return Spectrum
Stable Value/Money Market Bond Asset Allocation/
BalancedLarge Cap Mid Cap Small Cap International/
GlobalSpecialty
Interest rate changes are among the most significant factors affecting bond return. In a declining interest rate environment, bond prices rise and the fund may generate less income. In a rising interest rate environment, bond prices fall. The prospectus contains very important information about the characteristics of the underlying security and potential tax implications of owning this fund.
_Volatility Prof le i
The volatility profile is a measure of the level of risk of the underlying fund and is based on a ranking of the three year standard deviation of the fund’s performance. The ranking is compared against other funds within the same broad category group. The higher the volatility, the higher the variation in returns.
_Strategy
_Portfolio Statistics As of 12/31/2014
Inception Date: 2/10/1997 Net Assets ($ in millions): $3,189.57 Number of Bond Holdings: 152
Investment Advisor: American Century Inv Mgt, Inc. Portfolio Manager: Robert V. Gahagan
Seth Plunkett
This investment option is available to your plan through a group variable contract offered to fund retirement programs. Your plan invests in the separate account which invests directly in the mutual fund.
The investment seeks total return and inflation protection consistent with investment in inflation-indexed securities. Under normal market conditions, the fund invests at least 80% of its net assets in inflation-adjusted debt securities. It also may invest in derivative instruments such as options, futures contracts, options on futures contracts and swap agreements (including, but not limited to, inflation swap agreements and credit default swap agreements), or in mortgage- or asset-backed securities, provided that such investments are in keeping with the fund's investment objective.
VRU Code: 605
Morningstar Category Inflation-Protected Bond
As of 12/31/2014
Asset Allocation % Assets
Stock ...........................................................0.00 Foreign Stock ..............................................0.00 Bond ......................................................... 99.93 Foreign Bond ...............................................0.24 Preferred ..................................................... 0.00 Convertible ..................................................0.00 Cash ............................................................0.00 Other ..........................................................-0.18 Total 99.99% Largest Holdings % Assets
US Treasury TIP ..........................................6.17 US Treasury TIP 0.125% ............................ 5.94 US Treasury TIP ..........................................5.15 US Treasury TIP ..........................................4.74 US Treasury TIP 2% ................................... 4.16 US Treasury TIP 1.25% .............................. 3.99 US Treasury TIP ..........................................3.91 US Treasury TIP ..........................................3.81 US Treasury TIP ..........................................3.68 US Treasury TIP ..........................................3.34 Total 44.89%
Publication Date 1Q 2015
Ve
American Century Small Cap Value Investment Option
Processing and publication dates vary by fund company resulting in potential variations in “as of” dates. Information contained herein is subject to change at any time, and may vary based on underlying fund and/or share class considerations (if applicable). Certain sections, if shown, may not add up to 100% due to rounding. Morningstar Category: identifies funds based on investment styles as measured by their underlying portfolio holdings/statistics over 3 years. Investment options can move into other categories, or Morningstar may change their classification methodology. © 2013 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. © 2013 Massachusetts Mutual Life Insurance Company, Springfield, MA 01111-0001. All rights reserved. www.massmutual.com. MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) [of which Retirement Services is a division] and its affiliated companies and sales representatives. RS-31547-00.
_Risk/Return Spectrum
Stable Value/Money Market Bonds Asset Allocation
BalancedLarge Cap Mid Cap Small Cap International/
GlobalSpecialty
Small company investing involves specific risks not necessarily encountered in large company investing, such as increased volatility.
_Volatility Prof le i
The volatility profile is a measure of the level of risk of the underlying fund and is based on a ranking of the three year standard deviation of the fund’s performance. The ranking is compared against other funds within the same broad category group. The higher the volatility, the higher the variation in returns.
_Strategy
_Portfolio Statistics As of 9/30/2014
Inception Date: 7/31/1998 Net Assets ($ in millions): $1,807.94 Number of Stock Holdings: 232
Investment Advisor: American Century Inv Mgt, Inc. Portfolio Manager: Benjamin Z. Giele
Steve Roth
This investment option is available to your plan through a group variable contract offered to fund retirement programs. Your plan invests in the separate account which invests directly in the mutual fund.
The investment seeks long-term capital growth; income is a secondary consideration. Under normal market conditions, the portfolio managers will invest at least 80% of the fund's net assets in small cap companies. The portfolio managers consider small cap companies to include those with a market capitalization no larger than that of the largest company in the S&P Small Cap 600® Index or the Russell 2000® Index.
Large
Mid
Small
Value Blend Growth
VRU Code: 483
Morningstar Category Small Value
Morningstar Style Box
As of 9/30/2014
Asset Allocation % Assets
Stock .........................................................93.71 Foreign Stock ..............................................3.86 Bond ........................................................... 0.00 Foreign Bond ...............................................0.00 Preferred ..................................................... 0.00 Convertible ..................................................0.00 Cash ............................................................2.43 Other ........................................................... 0.00 Total 100.00% Largest Holdings % Assets
BankUnited Inc ............................................1.64 Berry Plastics Group Inc ............................. 1.54 Multi-Color Corp ......................................... 1.44 Evertec Inc .................................................. 1.29 Entravision Communications Corp ..............1.25 Mentor Graphics Corp .................................1.22 Haemonetics Corp .......................................1.20 American Science & Engineering Inc ..........1.12 Valley National Bancorp .............................. 1.12 Global Brass & Copper Holdings Inc .......... 1.07 Total 12.89% Diversification % Assets
Basic Materials ............................................7.23 Consumer Cyclical .................................... 16.90 Financial Services ..................................... 21.53 Real Estate ................................................ 12.96 Consumer Defensive ................................... 1.12 Healthcare ................................................... 4.28 Utilities ........................................................5.61 Communication Services ............................ 0.22 Energy .........................................................5.73 Industrials ................................................. 12.12 Technology ................................................12.30 Total 100.00%
Publication Date 1Q 2015
Ve
American Funds EuroPacific Growth Investment Option
Processing and publication dates vary by fund company resulting in potential variations in “as of” dates. Information contained herein is subject to change at any time, and may vary based on underlying fund and/or share class considerations (if applicable). Certain sections, if shown, may not add up to 100% due to rounding. Morningstar Category: identifies funds based on investment styles as measured by their underlying portfolio holdings/statistics over 3 years. Investment options can move into other categories, or Morningstar may change their classification methodology. © 2013 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. © 2013 Massachusetts Mutual Life Insurance Company, Springfield, MA 01111-0001. All rights reserved. www.massmutual.com. MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) [of which Retirement Services is a division] and its affiliated companies and sales representatives. RS-31547-00.
_Risk/Return Spectrum
Stable Value/Money Market Bond Asset Allocation/
BalancedLarge Cap Mid Cap Small Cap International/
GlobalSpecialty
Investments made outside the United States involve special risks, such as currency fluctuations, political instability, differing securities regulations and periods of illiquidity.
_Volatility Prof le i
The volatility profile is a measure of the level of risk of the underlying fund and is based on a ranking of the three year standard deviation of the fund’s performance. The ranking is compared against other funds within the same broad category group. The higher the volatility, the higher the variation in returns.
_Strategy
_Portfolio Statistics As of 12/31/2014
Inception Date: 4/16/1984 Net Assets ($ in millions): $122,130.66 Number of Bond Holdings: 4 Number of Stock Holdings: 261
Investment Advisor: Capital Research and Management Company
Portfolio Manager: Team Managed
This investment option is available to your plan through a group variable contract offered to fund retirement programs. Your plan invests in the separate account which invests directly in the mutual fund.
The investment seeks long-term growth of capital. The fund invests primarily in common stocks of issuers in Europe and the Pacific Basin that the investment adviser believes have the potential for growth. Growth stocks are stocks that the investment adviser believes have the potential for above-average capital appreciation. It normally invests at least 80% of net assets in securities of issuers in Europe and the Pacific Basin. The fund may invest a portion of its assets in common stocks and other securities of companies in countries with developing economies and/or markets.
VRU Code: 143
Morningstar Category Foreign Large Growth
As of 12/31/2014
Asset Allocation % Assets
Stock ...........................................................0.00 Foreign Stock ............................................85.67 Bond ........................................................... 0.21 Foreign Bond ...............................................0.09 Preferred ..................................................... 0.93 Convertible ..................................................0.00 Cash ..........................................................13.09 Other ........................................................... 0.00 Total 99.99% Largest Holdings % Assets
Novo Nordisk A/S Class B ...........................4.11 Bayer AG ..................................................... 2.54 Novartis AG .................................................2.33 SOFTBANK Corp ......................................... 2.09 Prudential PLC ............................................ 1.90 Associated British Foods PLC ..................... 1.66 Barclays PLC ...............................................1.64 Baidu Inc ADR .............................................1.57 British American Tobacco PLC ....................1.29 HDFC Bank Ltd ............................................1.24 Total 20.37% Diversification % Assets
GBR ...........................................................13.81 JPN ........................................................... 10.98 IND ..............................................................7.46 FRA ............................................................. 6.00 CHE ............................................................. 5.62 CHN .............................................................5.50 DEU .............................................................5.50 DNK .............................................................4.52 HKG .............................................................4.44 CAN .............................................................2.62 Total 66.45%
Publication Date 1Q 2015
Ve
Artisan Mid Cap Investment Option
Processing and publication dates vary by fund company resulting in potential variations in “as of” dates. Information contained herein is subject to change at any time, and may vary based on underlying fund and/or share class considerations (if applicable). Certain sections, if shown, may not add up to 100% due to rounding. Morningstar Category: identifies funds based on investment styles as measured by their underlying portfolio holdings/statistics over 3 years. Investment options can move into other categories, or Morningstar may change their classification methodology. © 2013 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. © 2013 Massachusetts Mutual Life Insurance Company, Springfield, MA 01111-0001. All rights reserved. www.massmutual.com. MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) [of which Retirement Services is a division] and its affiliated companies and sales representatives. RS-31547-00.
_Risk/Return Spectrum
Stable Value/Money Market Bond Asset Allocation/
BalancedLarge Cap Mid Cap Small Cap International/
GlobalSpecialty
Mid-cap investing generally have higher risk and return characteristics than large-company stocks.
_Volatility Prof le i
The volatility profile is a measure of the level of risk of the underlying fund and is based on a ranking of the three year standard deviation of the fund’s performance. The ranking is compared against other funds within the same broad category group. The higher the volatility, the higher the variation in returns.
_Strategy
_Portfolio Statistics As of 12/31/2014
Inception Date: 6/27/1997 Net Assets ($ in millions): $9,819.82 Number of Stock Holdings: 73
Investment Advisor: Artisan Partners Limited Partnership
Portfolio Manager: Andrew C. Stephens James Hamel
This investment option is available to your plan through a group variable contract offered to fund retirement programs. Your plan invests in the separate account which invests directly in the mutual fund.
The investment seeks maximum long-term capital growth. The fund normally invests no less than 80% of its net assets in the common stocks of medium-sized companies. It defines a medium-sized company as one with a market capitalization greater than the market capitalization of the smallest company in the Russell Midcap® Index and less than three times the weighted average market capitalization of companies in the index. The fund maintains a weighted average market capitalization of not more than 1.5 times the weighted average market capitalization of the companies included in the Russell Midcap® Index.
Large
Mid
Small
Value Blend Growth
VRU Code: 478
Morningstar Category Mid-Cap Growth
Morningstar Style Box
As of 12/31/2014
Asset Allocation % Assets
Stock .........................................................92.85 Foreign Stock ..............................................3.25 Bond ........................................................... 0.00 Foreign Bond ...............................................0.00 Preferred ..................................................... 0.00 Convertible ..................................................0.00 Cash ............................................................3.89 Other ........................................................... 0.00 Total 99.99% Largest Holdings % Assets
Regeneron Pharmaceuticals Inc ................. 4.30 IHS Inc Class A ........................................... 3.96 Applied Materials Inc .................................. 3.82 Illumina Inc ................................................. 3.33 Ametek Inc ..................................................3.28 Discover Financial Services .........................2.97 LKQ Corp .................................................... 2.74 Workday Inc Class A ...................................2.67 Chipotle Mexican Grill Inc Class A .............. 2.55 Fortune Brands Home & Security Inc ......... 2.49 Total 32.11% Diversification % Assets
Basic Materials ............................................0.64 Consumer Cyclical .................................... 20.76 Financial Services ....................................... 6.86 Real Estate .................................................. 0.00 Consumer Defensive ................................... 3.90 Healthcare ................................................. 18.64 Utilities ........................................................0.00 Communication Services ............................ 0.85 Energy .........................................................3.02 Industrials ................................................. 14.45 Technology ................................................30.88 Total 100.00%
Publication Date 1Q 2015
Ve
BlackRock Capital Appreciation Investment Option
Processing and publication dates vary by fund company resulting in potential variations in “as of” dates. Information contained herein is subject to change at any time, and may vary based on underlying fund and/or share class considerations (if applicable). Certain sections, if shown, may not add up to 100% due to rounding. Morningstar Category: identifies funds based on investment styles as measured by their underlying portfolio holdings/statistics over 3 years. Investment options can move into other categories, or Morningstar may change their classification methodology. © 2013 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. © 2013 Massachusetts Mutual Life Insurance Company, Springfield, MA 01111-0001. All rights reserved. www.massmutual.com. MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) [of which Retirement Services is a division] and its affiliated companies and sales representatives. RS-31547-00.
_Risk/Return Spectrum
Stable Value/Money Market Bond Asset Allocation/
BalancedLarge Cap Mid Cap Small Cap International/
GlobalSpecialty
_Volatility Prof le i
The volatility profile is a measure of the level of risk of the underlying fund and is based on a ranking of the three year standard deviation of the fund’s performance. The ranking is compared against other funds within the same broad category group. The higher the volatility, the higher the variation in returns.
_Strategy
_Portfolio Statistics As of 12/31/2014
Inception Date: 12/31/1997 Net Assets ($ in millions): $3,564.87 Number of Stock Holdings: 53
Investment Advisor: BlackRock Advisors LLC Portfolio Manager: Jeffrey Lindsey
Edward Dowd
This investment option is available to your plan through a group variable contract offered to fund retirement programs. Your plan invests in the separate account which invests directly in the mutual fund.
The investment seeks long-term growth of capital. The fund invests primarily in a diversified portfolio consisting primarily of common stock of U.S. companies that fund management believes have exhibited above-average growth rates in earnings over the long term. It will generally invest at least 65% of its total assets in the following equity securities: Common stock; Convertible preferred stock; Securities convertible into common stock; and Rights to subscribe to common stock. The fund may invest in companies of any size but emphasizes investments in companies that have medium to large stock market capitalizations.
Large
Mid
Small
Value Blend Growth
VRU Code: 566
Morningstar Category Large Growth
Morningstar Style Box
As of 12/31/2014
Asset Allocation % Assets
Stock .........................................................87.37 Foreign Stock ..............................................9.48 Bond ........................................................... 0.00 Foreign Bond ...............................................0.00 Preferred ..................................................... 0.00 Convertible ..................................................0.00 Cash ............................................................0.47 Other ........................................................... 2.68 Total 100.00% Largest Holdings % Assets
Visa Inc Class A .......................................... 4.68 Apple Inc .....................................................4.43 Facebook Inc Class A ..................................4.39 AbbVie Inc ...................................................4.16 Twenty-First Century Fox Inc Class A ......... 3.68 Yahoo! Inc ...................................................3.46 Liberty Global PLC Class A ......................... 3.15 Valeant Pharmaceuticals International Inc .. 3.11 United Therapeutics Corp ........................... 2.90 Union Pacific Corp ...................................... 2.81 Total 36.77% Diversification % Assets
Basic Materials ............................................0.61 Consumer Cyclical .................................... 14.20 Financial Services ....................................... 7.30 Real Estate .................................................. 0.00 Consumer Defensive ................................... 4.34 Healthcare ................................................. 23.61 Utilities ........................................................0.00 Communication Services ............................ 6.37 Energy .........................................................2.86 Industrials ................................................. 10.78 Technology ................................................29.93 Total 100.00%
Publication Date 1Q 2015
Ve
Dreyfus Bond Market Index Investment Option
Processing and publication dates vary by fund company resulting in potential variations in “as of” dates. Information contained herein is subject to change at any time, and may vary based on underlying fund and/or share class considerations (if applicable). Certain sections, if shown, may not add up to 100% due to rounding. Morningstar Category: identifies funds based on investment styles as measured by their underlying portfolio holdings/statistics over 3 years. Investment options can move into other categories, or Morningstar may change their classification methodology. © 2013 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. © 2013 Massachusetts Mutual Life Insurance Company, Springfield, MA 01111-0001. All rights reserved. www.massmutual.com. MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) [of which Retirement Services is a division] and its affiliated companies and sales representatives. RS-31547-00.
_Risk/Return Spectrum
Stable Value/Money Market Bond Asset Allocation/
BalancedLarge Cap Mid Cap Small Cap International/
GlobalSpecialty
Securities rated ''BB'' and below are commonly referred to as ''high yield, high risk securities'' or ''junk bonds.'' High yield bonds generally involve greater credit risk and may be more volatile than investment grade bonds.
_Volatility Prof le i
The volatility profile is a measure of the level of risk of the underlying fund and is based on a ranking of the three year standard deviation of the fund’s performance. The ranking is compared against other funds within the same broad category group. The higher the volatility, the higher the variation in returns.
_Strategy
_Portfolio Statistics As of 12/31/2014
Inception Date: 4/28/1994 Net Assets ($ in millions): $2,460.29 Number of Bond Holdings: 2316
Investment Advisor: Dreyfus Corporation Portfolio Manager: Laurie A. Carroll
This investment option is available to your plan through a group variable contract offered to fund retirement programs. Your plan invests in the separate account which invests directly in the mutual fund.
The investment seeks to match the total return of the Barclays U.S. Aggregate Index. To pursue its goal, the fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in bonds that are included in the Barclays U.S. Aggregate Index. In seeking to match index performance, the manager uses a passive management approach and purchases all or a representative sample of the bonds comprising the Barclays U.S. Aggregate Index. To maintain liquidity, it may invest up to 20% of its assets in various short-term, fixed-income securities and money market instruments.
VRU Code: 136
Morningstar Category Intermediate-Term Bond
As of 12/31/2014
Asset Allocation % Assets
Stock ...........................................................0.00 Foreign Stock ..............................................0.00 Bond ......................................................... 83.75 Foreign Bond ...............................................8.87 Preferred ..................................................... 0.00 Convertible ..................................................0.00 Cash ............................................................8.18 Other ..........................................................-0.80 Total 100.00% Largest Holdings % Assets
Govt Natl Mtg Asso 3.5% ........................... 1.28 Govt Natl Mtg Asso 4% .............................. 1.05 FNMA 4% TBA ............................................ 1.02 FNMA .......................................................... 0.74 Ginnie Mae Jumbos TBA 3% 2044-01-01 .. 0.63 FHLMC 4% ..................................................0.58 Govt Natl Mtg Asso 4.5% ........................... 0.51 Fannie Mae Single Family TBA 2.5% 2029-01-01 ................................................................0.44 US Treasury Bond 3.375% ..........................0.42 FHLMC 3% ..................................................0.39 Total 7.06%
Publication Date 1Q 2015
Ve
Franklin Mutual Global Discovery Investment Option
Processing and publication dates vary by fund company resulting in potential variations in “as of” dates. Information contained herein is subject to change at any time, and may vary based on underlying fund and/or share class considerations (if applicable). Certain sections, if shown, may not add up to 100% due to rounding. Morningstar Category: identifies funds based on investment styles as measured by their underlying portfolio holdings/statistics over 3 years. Investment options can move into other categories, or Morningstar may change their classification methodology. © 2013 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. © 2013 Massachusetts Mutual Life Insurance Company, Springfield, MA 01111-0001. All rights reserved. www.massmutual.com. MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) [of which Retirement Services is a division] and its affiliated companies and sales representatives. RS-31547-00.
_Risk/Return Spectrum
Stable Value/Money Market Bond Asset Allocation/
BalancedLarge Cap Mid Cap Small Cap International/
GlobalSpecialty
Investing in foreign issuers and non-dollar securities may involve different and additional risks associated with foreign currencies, investment disclosure, accounting, securities regulation, commissions, taxes, political or social instability, war or expropriation.
_Volatility Prof le i
The volatility profile is a measure of the level of risk of the underlying fund and is based on a ranking of the three year standard deviation of the fund’s performance. The ranking is compared against other funds within the same broad category group. The higher the volatility, the higher the variation in returns.
_Strategy
_Portfolio Statistics As of 12/31/2014
Inception Date: 11/1/1996 Net Assets ($ in millions): $25,700.53 Number of Bond Holdings: 12 Number of Stock Holdings: 112
Investment Advisor: Franklin Mutual Advisers, LLC Portfolio Manager: Anne Gudefin
Charles Lahr
This investment option is available to your plan through a group variable contract offered to fund retirement programs. Your plan invests in the separate account which invests directly in the mutual fund.
The investment seeks capital appreciation. The fund invests primarily in equity securities (including securities convertible into, or that the investment manager expects to be exchanged for, common or preferred stock) of U.S. and foreign companies that the investment manager believes are available at market prices less than their value based on certain recognized or objective criteria (intrinsic value). It invests primarily in undervalued securities (securities trading at a discount to intrinsic value). The managers expect to invest substantially and potentially up to 100% of its assets in foreign securities.
VRU Code: 590
Morningstar Category World Stock
As of 12/31/2014
Asset Allocation % Assets
Stock .........................................................46.93 Foreign Stock ............................................37.12 Bond ........................................................... 2.53 Foreign Bond ...............................................0.00 Preferred ..................................................... 1.39 Convertible ..................................................0.00 Cash ............................................................8.19 Other ........................................................... 3.84 Total 100.00% Largest Holdings % Assets
Merck & Co Inc ...........................................2.11 Teva Pharmaceutical Industries Ltd ADR .... 2.00 Medtronic Inc ..............................................1.94 Microsoft Corp ............................................1.89 Apple Inc .....................................................1.85 Wells Fargo & Co ........................................ 1.66 ACE Ltd ....................................................... 1.58 British American Tobacco PLC ....................1.51 Royal Dutch Shell PLC Class A ................... 1.45 Volkswagen AG ........................................... 1.39 Total 17.38% Diversification % Assets
USA ...........................................................49.72 GBR ...........................................................11.88 CHE ............................................................. 4.13 FRA ............................................................. 3.68 ISR ..............................................................3.25 DEU .............................................................3.00 NLD .............................................................2.45 KOR .............................................................2.11 CHN .............................................................1.88 CAN .............................................................1.53 Total 83.63%
Publication Date 1Q 2015
Ve
Franklin US Government Securities Investment Option
Processing and publication dates vary by fund company resulting in potential variations in “as of” dates. Information contained herein is subject to change at any time, and may vary based on underlying fund and/or share class considerations (if applicable). Certain sections, if shown, may not add up to 100% due to rounding. Morningstar Category: identifies funds based on investment styles as measured by their underlying portfolio holdings/statistics over 3 years. Investment options can move into other categories, or Morningstar may change their classification methodology. © 2013 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. © 2013 Massachusetts Mutual Life Insurance Company, Springfield, MA 01111-0001. All rights reserved. www.massmutual.com. MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) [of which Retirement Services is a division] and its affiliated companies and sales representatives. RS-31547-00.
_Risk/Return Spectrum
Stable Value/Money Market Bond Asset Allocation/
BalancedLarge Cap Mid Cap Small Cap International/
GlobalSpecialty
The share price and yield of Franklin U.S. Government Securities Fund may be affected by interest rate movements and mortgage prepayments. Bond prices generally move in the opposite direction from interest rates. Thus, as the prices of bonds in the fund adjust to a rise in interest rates, the fund's share price may decline. These and other risk considerations are discussed in the fund's prospectus.
_Volatility Prof le i
The volatility profile is a measure of the level of risk of the underlying fund and is based on a ranking of the three year standard deviation of the fund’s performance. The ranking is compared against other funds within the same broad category group. The higher the volatility, the higher the variation in returns.
_Strategy
_Portfolio Statistics As of 12/31/2014
Inception Date: 5/29/1970 Net Assets ($ in millions): $6,504.88 Number of Bond Holdings: 10294
Investment Advisor: Franklin Advisers, Inc. Portfolio Manager: Jack Lemein
Paul Varunok
This investment option is available to your plan through a group variable contract offered to fund retirement programs. Your plan invests in the separate account which invests directly in the mutual fund.
The investment seeks income. The fund normally invests at least 80% of its net assets in U.S. government securities. It invests substantially all of its assets in Government National Mortgage Association obligations (Ginnie Maes). The mortgage loans may have either fixed or adjustable interest rates. As the underlying mortgage loans are paid off, Ginnie Maes provide investors with monthly payments of interest and principal as well as any unscheduled prepayments on the underlying mortgage loans.
VRU Code: 644
Morningstar Category Intermediate Government
As of 12/31/2014
Asset Allocation % Assets
Stock ...........................................................0.00 Foreign Stock ..............................................0.00 Bond ......................................................... 99.56 Foreign Bond ...............................................0.00 Preferred ..................................................... 0.00 Convertible ..................................................0.00 Cash ............................................................0.44 Other ........................................................... 0.00 Total 100.00% Largest Holdings % Assets
GNMA 3.5% ................................................ 3.95 GNMA 3.5% ................................................ 2.75 GNMA 4.5% ................................................ 2.18 GNMA 4% ................................................... 2.02 GNMA 3.5% ................................................ 1.83 GNMA 4% ................................................... 1.76 GNMA 4.5% ................................................ 1.68 GNMA 4.5% ................................................ 1.63 GNMA 4.5% ................................................ 1.58 GNMA 4% ................................................... 1.57 Total 20.95%
Publication Date 1Q 2015
Ve
General Account Investment Option
Processing and publication dates vary by fund company resulting in potential variations in “as of” dates. Information contained herein is subject to change at any time, and may vary based on underlying fund and/or share class considerations (if applicable). Certain sections, if shown, may not add up to 100% due to rounding. © 2013 Massachusetts Mutual Life Insurance Company, Springfield, MA 01111-0001. All rights reserved. www.massmutual.com. MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) [of which Retirement Services is a division] and its affiliated companies and sales representatives. RS-31547-00.
_Risk/Return Spectrum
Stable Value/Money Market Bond Asset Allocation/
BalancedLarge Cap Mid Cap Small Cap International/
GlobalSpecialty
Hartford Life Insurance Company (also referred to as “Hartford”) offers competitive credited rates on current contributions, as well as on contributions made in prior years. The General Account is not a mutual fund. It is an investment choice available through a group variable contract. The General Account investment choice is part of Hartford’s general account that includes other company assets. General Account rates are guaranteed by the claims-paying ability of Hartford Life Insurance Company. Hartford credits interest on contributions made to the General Account at a rate declared for the calendar quarter in which they are received. Hartford guarantees the declared interest rate applicable to any quarter to the end of the year in which the rate was applied. Hartford may change the declared interest rate applicable to contributions made for any subsequent quarter at its discretion. For each subsequent calendar year, Hartford Life Insurance Company will credit assets in the General Account at a rate guaranteed for the entire calendar year (the “Guaranteed Interest Rate”). The Guaranteed Interest Rate for a calendar year will be determined at the end of the preceding calendar year and will never be less than the minimum interest rate specified in the contract. Hartford may, from time to time, credit interest rates in excess of the Guaranteed Interest Rate. Contract guarantees, including any credited rate of interest or annuity payout rates, are backed by the claims-paying ability of the issuing company, Hartford Life Insurance Company.
VRU Code: 024
The objective of this investment option is to maintain a competitive fixed interest rate and a minimum guaranteed rate of return. The general account of Hartford Life Insurance Company is guaranteed by the Hartford’s claims paying ability. Hartford’s General Account is primarily invested in investment grade fixed income securities. Contract values held in the General Account will be accounted for on a non-unitized basis. If the Plan offers a money market fund or other competing fund, direct transfers between competing funds are not permitted and amounts transferred to a non-competing fund must remain in the non-competing fund for at least three months.
Publication Date 1Q 2015
Ve
Hartford Capital Appreciation HLS Investment Option
Processing and publication dates vary by fund company resulting in potential variations in “as of” dates. Information contained herein is subject to change at any time, and may vary based on underlying fund and/or share class considerations (if applicable). Certain sections, if shown, may not add up to 100% due to rounding. Morningstar Category: identifies funds based on investment styles as measured by their underlying portfolio holdings/statistics over 3 years. Investment options can move into other categories, or Morningstar may change their classification methodology. © 2013 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. © 2013 Massachusetts Mutual Life Insurance Company, Springfield, MA 01111-0001. All rights reserved. www.massmutual.com. MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) [of which Retirement Services is a division] and its affiliated companies and sales representatives. RS-31547-00.
_Risk/Return Spectrum
Stable Value/Money Market Bond Asset Allocation/
BalancedLarge Cap Mid Cap Small Cap International/
GlobalSpecialty
Up to 20% of the Fund may be invested in foreign issuers and non-dollar securities. Investing in foreign issuers and non-dollar securities may involve different and additional risks associated with foreign currencies, investment disclosure, accounting, securities regulation, commissions, taxes, political or social instability, war or expropriation.
_Volatility Prof le i
The volatility profile is a measure of the level of risk of the underlying fund and is based on a ranking of the three year standard deviation of the fund’s performance. The ranking is compared against other funds within the same broad category group. The higher the volatility, the higher the variation in returns.
_Strategy
_Portfolio Statistics As of 12/31/2014
Inception Date: 4/2/1984 Net Assets ($ in millions): $6,977.80 Number of Bond Holdings: 1 Number of Stock Holdings: 377
Investment Advisor: Hartford Funds Management Company, LLC
Investment Sub Advisor: Wellington Management Company LLP
Portfolio Manager: Team Managed
This investment option is available to your plan through a group variable contract offered to fund retirement programs. Your plan invests in the separate account which invests directly in the mutual fund.
The investment seeks growth of capital. The fund normally invests at least 65% of its net assets in common stocks of small, medium and large companies. It may also invest up to 35% of its net assets in equity securities of foreign issuers and non-dollar securities, including companies that conduct their principal business activities in emerging markets or whose securities are traded principally on exchanges in emerging markets. The fund may trade securities actively.
Large
Mid
Small
Value Blend Growth
VRU Code: 12
Morningstar Category Large Blend
Morningstar Style Box
As of 12/31/2014
Asset Allocation % Assets
Stock .........................................................77.71 Foreign Stock ............................................19.66 Bond ........................................................... 0.00 Foreign Bond ...............................................0.00 Preferred ..................................................... 0.00 Convertible ..................................................0.00 Cash ............................................................0.00 Other ........................................................... 2.64 Total 100.01% Largest Holdings % Assets
Bristol-Myers Squibb Company .................. 3.20 Apple Inc .....................................................2.51 Actavis PLC .................................................1.62 JPMorgan Chase & Co ................................1.61 Merck & Co Inc ...........................................1.49 Microsoft Corp ............................................1.48 Google Inc Class C ......................................1.46 Intel Corp .................................................... 1.44 AstraZeneca PLC .........................................1.35 Micron Technology Inc ................................1.34 Total 17.50% Diversification % Assets
Basic Materials ............................................4.33 Consumer Cyclical .................................... 13.08 Financial Services ..................................... 13.37 Real Estate .................................................. 1.20 Consumer Defensive ................................... 5.54 Healthcare ................................................. 16.99 Utilities ........................................................1.25 Communication Services ............................ 1.24 Energy .........................................................6.27 Industrials ................................................. 11.38 Technology ................................................25.36 Total 100.01%
Publication Date 1Q 2015
Ve
Hartford International Opportunities HLS Investment Option
Processing and publication dates vary by fund company resulting in potential variations in “as of” dates. Information contained herein is subject to change at any time, and may vary based on underlying fund and/or share class considerations (if applicable). Certain sections, if shown, may not add up to 100% due to rounding. Morningstar Category: identifies funds based on investment styles as measured by their underlying portfolio holdings/statistics over 3 years. Investment options can move into other categories, or Morningstar may change their classification methodology. © 2013 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. © 2013 Massachusetts Mutual Life Insurance Company, Springfield, MA 01111-0001. All rights reserved. www.massmutual.com. MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) [of which Retirement Services is a division] and its affiliated companies and sales representatives. RS-31547-00.
_Risk/Return Spectrum
Stable Value/Money Market Bond Asset Allocation/
BalancedLarge Cap Mid Cap Small Cap International/
GlobalSpecialty
Investing in foreign issuers and non-dollar securities may involve different and additional risks associated with foreign currencies, investment disclosure, accounting, securities regulation, commissions, taxes, political or social instability, war or expropriation.
_Volatility Prof le i
The volatility profile is a measure of the level of risk of the underlying fund and is based on a ranking of the three year standard deviation of the fund’s performance. The ranking is compared against other funds within the same broad category group. The higher the volatility, the higher the variation in returns.
_Strategy
_Portfolio Statistics As of 12/31/2014
Inception Date: 7/2/1990 Net Assets ($ in millions): $1,431.99 Number of Stock Holdings: 104
Investment Advisor: Hartford Funds Management Company, LLC
Investment Sub Advisor: Wellington Management Company LLP
Portfolio Manager: Tara Stilwell Nicolas Choumenkovitch
This investment option is available to your plan through a group variable contract offered to fund retirement programs. Your plan invests in the separate account which invests directly in the mutual fund.
The investment seeks long-term growth of capital. The fund normally invests at least 65% of its net assets in stocks issued by non-U.S. companies that trade in foreign markets that are generally considered to be well established. It diversifies its investments among a number of different countries throughout the world, with no limit on the amount of assets that may be invested in each country. The fund may invest the greater of 25% or the weight of emerging markets in the MSCI All Country World ex USA Index ("MSCI AC World ex USA Index") plus 10% of its net assets in companies domiciled in emerging markets.
VRU Code: 13
Morningstar Category Foreign Large Blend
As of 12/31/2014
Asset Allocation % Assets
Stock ...........................................................0.60 Foreign Stock ............................................96.23 Bond ........................................................... 0.00 Foreign Bond ...............................................0.00 Preferred ..................................................... 0.00 Convertible ..................................................0.00 Cash ............................................................0.00 Other ........................................................... 3.17 Total 100.00% Largest Holdings % Assets
AstraZeneca PLC .........................................3.49 Novartis AG .................................................3.43 Anheuser-Busch Inbev SA ...........................3.12 Air Liquide SA ............................................. 2.43 Taiwan Semiconductor Manufacturing Co Ltd 2.34 Imperial Oil Ltd ........................................... 2.03 Julius Baer Gruppe AG ................................2.00 CRH PLC ..................................................... 1.94 Luxottica Group SpA ...................................1.89 WPP PLC .................................................... 1.88 Total 24.55% Diversification % Assets
JPN ........................................................... 19.17 GBR ...........................................................12.32 CHE ............................................................. 9.86 FRA ............................................................. 9.46 ITA ...............................................................6.72 CAN .............................................................5.60 NLD .............................................................5.33 CHN .............................................................4.24 SWE ............................................................ 3.69 BEL ............................................................. 3.36 Total 79.75%
Publication Date 1Q 2015
Ve
Hartford Value HLS Investment Option
Processing and publication dates vary by fund company resulting in potential variations in “as of” dates. Information contained herein is subject to change at any time, and may vary based on underlying fund and/or share class considerations (if applicable). Certain sections, if shown, may not add up to 100% due to rounding. Morningstar Category: identifies funds based on investment styles as measured by their underlying portfolio holdings/statistics over 3 years. Investment options can move into other categories, or Morningstar may change their classification methodology. © 2013 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. © 2013 Massachusetts Mutual Life Insurance Company, Springfield, MA 01111-0001. All rights reserved. www.massmutual.com. MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) [of which Retirement Services is a division] and its affiliated companies and sales representatives. RS-31547-00.
_Risk/Return Spectrum
Stable Value/Money Market Bond Asset Allocation/
BalancedLarge Cap Mid Cap Small Cap International/
GlobalSpecialty
_Volatility Prof le i
The volatility profile is a measure of the level of risk of the underlying fund and is based on a ranking of the three year standard deviation of the fund’s performance. The ranking is compared against other funds within the same broad category group. The higher the volatility, the higher the variation in returns.
_Strategy
_Portfolio Statistics As of 12/31/2014
Inception Date: 4/30/2001 Net Assets ($ in millions): $587.39 Number of Stock Holdings: 80
Investment Advisor: Hartford Funds Management Company, LLC
Investment Sub Advisor: Wellington Management Company LLP
Portfolio Manager: W. Reckmeyer III Ian Link
This investment option is available to your plan through a group variable contract offered to fund retirement programs. Your plan invests in the separate account which invests directly in the mutual fund.
The investment seeks long-term total return. The fund invests at least 80% of its assets in equity securities of companies with market capitalizations above $2 billion. The sub-adviser, Wellington Management Company, LLP ("Wellington Management"), utilizes fundamental analysis to identify securities that provide the potential for above-average total returns and sell at below-average estimated price-to-earnings multiples. It may invest up to 20% of its net assets in the securities of foreign issuers and non-dollar securities.
Large
Mid
Small
Value Blend Growth
VRU Code: 849
Morningstar Category Large Value
Morningstar Style Box
As of 12/31/2014
Asset Allocation % Assets
Stock .........................................................92.15 Foreign Stock ..............................................7.02 Bond ........................................................... 0.00 Foreign Bond ...............................................0.00 Preferred ..................................................... 0.00 Convertible ..................................................0.00 Cash ............................................................0.00 Other ........................................................... 0.84 Total 100.01% Largest Holdings % Assets
Wells Fargo & Co ........................................ 3.96 JPMorgan Chase & Co ................................3.60 Cisco Systems Inc ...................................... 3.00 Merck & Co Inc ...........................................2.49 Citigroup Inc ............................................... 2.45 PNC Financial Services Group Inc ...............2.35 Chevron Corp ..............................................2.23 Intel Corp .................................................... 2.18 EMC Corp ....................................................1.85 Covidien PLC ...............................................1.84 Total 25.95% Diversification % Assets
Basic Materials ............................................3.63 Consumer Cyclical .................................... 11.81 Financial Services ..................................... 26.22 Real Estate .................................................. 1.41 Consumer Defensive ................................... 4.27 Healthcare ................................................. 14.61 Utilities ........................................................2.79 Communication Services ............................ 2.91 Energy .......................................................10.17 Industrials ................................................... 8.68 Technology ................................................13.50 Total 100.00%
Publication Date 1Q 2015
Ve
Invesco Growth and Income Investment Option
Processing and publication dates vary by fund company resulting in potential variations in “as of” dates. Information contained herein is subject to change at any time, and may vary based on underlying fund and/or share class considerations (if applicable). Certain sections, if shown, may not add up to 100% due to rounding. Morningstar Category: identifies funds based on investment styles as measured by their underlying portfolio holdings/statistics over 3 years. Investment options can move into other categories, or Morningstar may change their classification methodology. © 2013 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. © 2013 Massachusetts Mutual Life Insurance Company, Springfield, MA 01111-0001. All rights reserved. www.massmutual.com. MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) [of which Retirement Services is a division] and its affiliated companies and sales representatives. RS-31547-00.
_Risk/Return Spectrum
Stable Value/Money Market Bond Asset Allocation/
BalancedLarge Cap Mid Cap Small Cap International/
GlobalSpecialty
Convertible securities: In addition to the risks associated with common stocks, investments in convertible securities are subject to the risks associated with fixed income securities, namely credit, price and interest-rate risks. Interest rates: In a declining interest-rate environment, the portfolio may generate less income. Additionally, more bonds may be called by the issuer, which may decrease the overall income potential of the portfolio. Foreign markets: The fund may invest in foreign markets; should it do so, the portfolio may be subject to additional currency, political, and economic risks. Derivate instruments: Investments in derivatives could magnify volatility.
_Volatility Prof le i
The volatility profile is a measure of the level of risk of the underlying fund and is based on a ranking of the three year standard deviation of the fund’s performance. The ranking is compared against other funds within the same broad category group. The higher the volatility, the higher the variation in returns.
_Strategy
_Portfolio Statistics As of 12/31/2014
Inception Date: 8/1/1946 Net Assets ($ in millions): $8,940.47 Number of Stock Holdings: 84
Investment Advisor: Invesco Advisers, Inc Portfolio Manager: Team Managed
This investment option is available to your plan through a group variable contract offered to fund retirement programs. Your plan invests in the separate account which invests directly in the mutual fund.
The investment seeks total return through growth of capital and current income. Under normal market conditions, the fund's investment adviser seeks to achieve the fund's investment objective by investing primarily in income-producing equity securities, which include common stocks and convertible securities. It may invest in securities of issuers of all capitalization sizes; however, a substantial number of the issuers in which the fund invests are large-capitalization issuers. The fund may invest up to 25% of its net assets in securities of foreign issuers, which may include depositary receipts.
Large
Mid
Small
Value Blend Growth
VRU Code: 167
Morningstar Category Large Value
Morningstar Style Box
As of 12/31/2014
Asset Allocation % Assets
Stock .........................................................84.82 Foreign Stock ............................................11.89 Bond ........................................................... 0.00 Foreign Bond ...............................................0.00 Preferred ..................................................... 0.00 Convertible ..................................................0.00 Cash ............................................................3.26 Other ........................................................... 0.03 Total 100.00% Largest Holdings % Assets
JPMorgan Chase & Co ................................4.52 Citigroup Inc ............................................... 4.46 General Electric Co ......................................2.81 Morgan Stanley ...........................................2.65 Royal Dutch Shell PLC Class A ................... 2.53 Bank of America Corporation ......................2.23 Target Corp ................................................. 1.75 PNC Financial Services Group Inc ...............1.75 Applied Materials Inc .................................. 1.71 Carnival Corp .............................................. 1.70 Total 26.11% Diversification % Assets
Basic Materials ............................................1.10 Consumer Cyclical ...................................... 7.75 Financial Services ..................................... 30.80 Real Estate .................................................. 0.00 Consumer Defensive ................................... 7.58 Healthcare ................................................. 13.20 Utilities ........................................................1.47 Communication Services ............................ 5.45 Energy .......................................................10.82 Industrials ................................................... 8.19 Technology ................................................13.65 Total 100.01%
Publication Date 1Q 2015
Ve
Lord Abbett Developing Growth Investment Option
Processing and publication dates vary by fund company resulting in potential variations in “as of” dates. Information contained herein is subject to change at any time, and may vary based on underlying fund and/or share class considerations (if applicable). Certain sections, if shown, may not add up to 100% due to rounding. Morningstar Category: identifies funds based on investment styles as measured by their underlying portfolio holdings/statistics over 3 years. Investment options can move into other categories, or Morningstar may change their classification methodology. © 2013 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. © 2013 Massachusetts Mutual Life Insurance Company, Springfield, MA 01111-0001. All rights reserved. www.massmutual.com. MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) [of which Retirement Services is a division] and its affiliated companies and sales representatives. RS-31547-00.
_Risk/Return Spectrum
Stable Value/Money Market Bonds Asset Allocation
BalancedLarge Cap Mid Cap Small Cap International/
GlobalSpecialty
The fund invests primarily in small-cap growth company stocks, which tend to be more volatile and can be less liquid than other types of stocks. Small -cap companies may also have more limited product lines, markets and or other financial resources and typically experience higher risk of failure than large-cap companies. These risks are fully discussed in the prospectus.
_Volatility Prof le i
The volatility profile is a measure of the level of risk of the underlying fund and is based on a ranking of the three year standard deviation of the fund’s performance. The ranking is compared against other funds within the same broad category group. The higher the volatility, the higher the variation in returns.
_Strategy
_Portfolio Statistics As of 12/31/2014
Inception Date: 10/10/1973 Net Assets ($ in millions): $3,254.39 Number of Stock Holdings: 113
Investment Advisor: Lord, Abbett & Co LLC Portfolio Manager: Thomas OHalloran
This investment option is available to your plan through a group variable contract offered to fund retirement programs. Your plan invests in the separate account which invests directly in the mutual fund.
The investment seeks long-term growth of capital through a diversified and actively managed portfolio consisting of developing growth companies, many of which are traded over the counter. To pursue its objective, the fund invests primarily in the common stocks of companies demonstrating above-average, long-term growth potential. The fund invests at least 65% of its net assets in equity securities of small companies. In selecting investments, it may invest in U.S. and foreign (including emerging market) companies.
Large
Mid
Small
Value Blend Growth
VRU Code: 727
Morningstar Category Small Growth
Morningstar Style Box
As of 12/31/2014
Asset Allocation % Assets
Stock .........................................................92.66 Foreign Stock ..............................................3.64 Bond ........................................................... 0.00 Foreign Bond ...............................................0.00 Preferred ..................................................... 0.00 Convertible ..................................................0.00 Cash ............................................................2.26 Other ........................................................... 1.44 Total 100.00% Largest Holdings % Assets
Cavium Inc ..................................................1.61 LifeLock Inc ................................................ 1.56 Hain Celestial Group Inc ............................. 1.54 Restoration Hardware Holdings Inc ............ 1.47 Trex Co Inc ..................................................1.46 United Natural Foods Inc ............................ 1.45 comScore Inc ..............................................1.43 CoStar Group Inc ........................................ 1.42 Knight Transportation, Inc. ..........................1.41 The Middleby Corp ......................................1.32 Total 14.67% Diversification % Assets
Basic Materials ............................................1.52 Consumer Cyclical .................................... 12.38 Financial Services ....................................... 9.89 Real Estate .................................................. 1.47 Consumer Defensive ................................... 4.19 Healthcare ................................................. 16.28 Utilities ........................................................0.00 Communication Services ............................ 1.06 Energy .........................................................1.01 Industrials ................................................. 18.69 Technology ................................................33.50 Total 99.99%
Publication Date 1Q 2015
Ve
Lord Abbett Value Opportunities Investment Option
Processing and publication dates vary by fund company resulting in potential variations in “as of” dates. Information contained herein is subject to change at any time, and may vary based on underlying fund and/or share class considerations (if applicable). Certain sections, if shown, may not add up to 100% due to rounding. Morningstar Category: identifies funds based on investment styles as measured by their underlying portfolio holdings/statistics over 3 years. Investment options can move into other categories, or Morningstar may change their classification methodology. © 2013 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. © 2013 Massachusetts Mutual Life Insurance Company, Springfield, MA 01111-0001. All rights reserved. www.massmutual.com. MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) [of which Retirement Services is a division] and its affiliated companies and sales representatives. RS-31547-00.
_Risk/Return Spectrum
Stable Value/Money Market Bond Asset Allocation/
BalancedLarge Cap Mid Cap Small Cap International/
GlobalSpecialty
Mid-cap investing generally have higher risk and return characteristics than large-company stocks.
_Volatility Prof le i
The volatility profile is a measure of the level of risk of the underlying fund and is based on a ranking of the three year standard deviation of the fund’s performance. The ranking is compared against other funds within the same broad category group. The higher the volatility, the higher the variation in returns.
_Strategy
_Portfolio Statistics As of 9/30/2014
Inception Date: 12/30/2005 Net Assets ($ in millions): $2,960.31 Number of Stock Holdings: 93
Investment Advisor: Lord, Abbett & Co LLC Portfolio Manager: Robert Fetch
This investment option is available to your plan through a group variable contract offered to fund retirement programs. Your plan invests in the separate account which invests directly in the mutual fund.
The investment seeks long-term capital appreciation. To pursue its objective, the fund normally invests at least 65% of its net assets in equity securities of small and mid-sized companies. The remainder of the fund's assets may be invested in companies of any size. The fund may change this policy at any time. The fund attempts to invest in companies the investment team believes have been undervalued by the market and whose securities are selling at reasonable prices in relation to an assessment of their potential or intrinsic value.
Large
Mid
Small
Value Blend Growth
VRU Code: 1063
Morningstar Category Mid-Cap Blend
Morningstar Style Box
As of 9/30/2014
Asset Allocation % Assets
Stock .........................................................95.50 Foreign Stock ..............................................0.49 Bond ........................................................... 0.00 Foreign Bond ...............................................0.00 Preferred ..................................................... 0.00 Convertible ..................................................0.00 Cash ............................................................2.07 Other ........................................................... 1.93 Total 99.99% Largest Holdings % Assets
Akamai Technologies Inc ............................ 2.24 Ryder System Inc ....................................... 1.96 HCC Insurance Holdings Inc ....................... 1.88 PacWest Bancorp ........................................1.84 Marvell Technology Group Ltd ....................1.82 Jarden Corp ................................................ 1.71 American Water Works Co Inc ....................1.55 Reliance Steel and Aluminum ..................... 1.52 Comerica Inc ...............................................1.51 Community Health Systems Inc ..................1.47 Total 17.50% Diversification % Assets
Basic Materials ............................................1.58 Consumer Cyclical .................................... 16.67 Financial Services ..................................... 22.87 Real Estate .................................................. 6.56 Consumer Defensive ................................... 2.31 Healthcare ................................................... 6.57 Utilities ........................................................5.76 Communication Services ............................ 0.00 Energy .........................................................5.07 Industrials ................................................. 19.03 Technology ................................................13.58 Total 100.00%
Publication Date 1Q 2015
Ve
Metropolitan West High Yield Bond Investment Option
Processing and publication dates vary by fund company resulting in potential variations in “as of” dates. Information contained herein is subject to change at any time, and may vary based on underlying fund and/or share class considerations (if applicable). Certain sections, if shown, may not add up to 100% due to rounding. Morningstar Category: identifies funds based on investment styles as measured by their underlying portfolio holdings/statistics over 3 years. Investment options can move into other categories, or Morningstar may change their classification methodology. © 2013 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. © 2013 Massachusetts Mutual Life Insurance Company, Springfield, MA 01111-0001. All rights reserved. www.massmutual.com. MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) [of which Retirement Services is a division] and its affiliated companies and sales representatives. RS-31547-00.
_Risk/Return Spectrum
Stable Value/Money Market Bond Asset Allocation/
BalancedLarge Cap Mid Cap Small Cap International/
GlobalSpecialty
Securities rated ''BB'' and below are commonly referred to as ''high yield, high risk securities'' or ''junk bonds.'' High yield bonds generally involve greater credit risk and may be more volatile than investment grade bonds.
_Volatility Prof le i
The volatility profile is a measure of the level of risk of the underlying fund and is based on a ranking of the three year standard deviation of the fund’s performance. The ranking is compared against other funds within the same broad category group. The higher the volatility, the higher the variation in returns.
_Strategy
_Portfolio Statistics As of 12/31/2014
Inception Date: 9/30/2002 Net Assets ($ in millions): $1,610.65 Number of Bond Holdings: 236 Number of Stock Holdings: 1
Investment Advisor: Metropolitan West Asset Management, LLC.
Portfolio Manager: Team Managed
This investment option is available to your plan through a group variable contract offered to fund retirement programs. Your plan invests in the separate account which invests directly in the mutual fund.
The investment seeks to maximize long-term total return consistent with preservation of capital. The fund pursues its objective by investing, under normal circumstances, at least 80% of its net assets plus borrowings for investment purposes in high yield bonds (commonly called "junk bonds") which are rated below investment grade or are unrated and determined by the Adviser to be of similar quality. Under normal conditions, the portfolio duration is two to eight years and the dollar-weighted average maturity ranges from two to fifteen years.
VRU Code: 864
Morningstar Category High Yield Bond
As of 12/31/2014
Asset Allocation % Assets
Stock ...........................................................0.09 Foreign Stock ..............................................0.00 Bond ......................................................... 78.37 Foreign Bond .............................................11.31 Preferred ..................................................... 0.29 Convertible ..................................................0.97 Cash ............................................................3.78 Other ........................................................... 5.19 Total 100.00% Largest Holdings % Assets
Engy Transfer Prtnrs L P FRN .....................1.75 Clear Channel Ww Hldgs 6.5% ................... 1.67 Sprint Nextel 144A 9% ............................... 1.51 First Data 144A 7.375% ..............................1.43 Homer City Generation L P 8.734% ............1.34 Reynolds Grp Issuer 5.75% ........................1.20 Hca 6.5% .................................................... 1.14 Sabine Pass Lng L P 7.5% ......................... 1.14 Intelsat Jackson Hldgs 7.5% ...................... 1.11 Ardagh Packaging 144A FRN ......................1.11 Total 13.40%
Publication Date 1Q 2015
Ve
Oppenheimer Developing Markets Investment Option
Processing and publication dates vary by fund company resulting in potential variations in “as of” dates. Information contained herein is subject to change at any time, and may vary based on underlying fund and/or share class considerations (if applicable). Certain sections, if shown, may not add up to 100% due to rounding. Morningstar Category: identifies funds based on investment styles as measured by their underlying portfolio holdings/statistics over 3 years. Investment options can move into other categories, or Morningstar may change their classification methodology. © 2013 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. © 2013 Massachusetts Mutual Life Insurance Company, Springfield, MA 01111-0001. All rights reserved. www.massmutual.com. MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) [of which Retirement Services is a division] and its affiliated companies and sales representatives. RS-31547-00.
_Risk/Return Spectrum
Stable Value/Money Market Bond Asset Allocation/
BalancedLarge Cap Mid Cap Small Cap International/
GlobalSpecialty
Investing in foreign issuers and non-dollar securities may involve different and additional risks associated with foreign currencies, investment disclosure, accounting, securities regulation, commissions, taxes, political or social instability, war or expropriation.
_Volatility Prof le i
The volatility profile is a measure of the level of risk of the underlying fund and is based on a ranking of the three year standard deviation of the fund’s performance. The ranking is compared against other funds within the same broad category group. The higher the volatility, the higher the variation in returns.
_Strategy
_Portfolio Statistics As of 12/31/2014
Inception Date: 11/18/1996 Net Assets ($ in millions): $38,438.53 Number of Stock Holdings: 116
Investment Advisor: OFI Global Asset Management, Inc.
Investment Sub Advisor: OppenheimerFunds, Inc. Portfolio Manager: Justin Leverenz
This investment option is available to your plan through a group variable contract offered to fund retirement programs. Your plan invests in the separate account which invests directly in the mutual fund.
The investment seeks capital appreciation. The fund mainly invests in common stocks of issuers in developing and emerging markets throughout the world and at times it may invest up to 100% of its total assets in foreign securities. Under normal market conditions, it will invest at least 80% of its net assets, plus borrowings for investment purposes, in equity securities of issuers whose principal activities are in a developing market, i.e. are in a developing market or are economically tied to a developing market country. The fund will invest in at least three developing markets.
VRU Code: 410
Morningstar Category Diversified Emerging Mkts
As of 12/31/2014
Asset Allocation % Assets
Stock ...........................................................0.00 Foreign Stock ............................................92.72 Bond ........................................................... 0.00 Foreign Bond ...............................................0.00 Preferred ..................................................... 2.09 Convertible ..................................................0.00 Cash ............................................................4.67 Other ........................................................... 0.52 Total 100.00% Largest Holdings % Assets
Baidu Inc ADR .............................................4.77 Housing Development Finance Corp Ltd .....3.09 Infosys Ltd ..................................................2.59 Magnit PJSC ............................................... 2.27 ICICI Bank Ltd ADR .....................................2.25 Tencent Holdings Ltd .................................. 2.07 Taiwan Semiconductor Manufacturing Co Ltd 1.96 America Movil SAB de CV ADR ...................1.96 OAO Novatek GDR ...................................... 1.94 Prada SpA ................................................... 1.67 Total 24.57% Diversification % Assets
CHN ...........................................................16.66 IND ............................................................14.84 BRA .............................................................9.16 MEX ............................................................ 6.97 RUS .............................................................6.20 GBR .............................................................5.77 HKG .............................................................3.78 TUR .............................................................3.04 IDN ..............................................................2.85 FRA ............................................................. 2.80 Total 72.07%
Publication Date 1Q 2015
Ve
PIMCO Total Return Investment Option
Processing and publication dates vary by fund company resulting in potential variations in “as of” dates. Information contained herein is subject to change at any time, and may vary based on underlying fund and/or share class considerations (if applicable). Certain sections, if shown, may not add up to 100% due to rounding. Morningstar Category: identifies funds based on investment styles as measured by their underlying portfolio holdings/statistics over 3 years. Investment options can move into other categories, or Morningstar may change their classification methodology. © 2013 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. © 2013 Massachusetts Mutual Life Insurance Company, Springfield, MA 01111-0001. All rights reserved. www.massmutual.com. MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) [of which Retirement Services is a division] and its affiliated companies and sales representatives. RS-31547-00.
_Risk/Return Spectrum
Stable Value/Money Market Bond Asset Allocation/
BalancedLarge Cap Mid Cap Small Cap International/
GlobalSpecialty
This Fund invests at least 65% of its assets in a diversified portfolio of fixed-income securities, up to 20% in foreign currency-denominated securities, and 10% in high-yield securities. Investing in foreign securities may entail risk due to foreign economic and political developments; this risk may be enhanced when investing in emerging markets. High-yield bonds typically have a lower credit rating than other bonds. Lower rated bonds generally involve a greater risk to principal than higher rated bonds. This Fund may use derivative instruments for hedging purposes or as part of its investment strategy. Use of these instruments may involve certain costs and risks such as liquidity risk, interest rate risk, market risk, credit risk, management risk and the risk that a fund could not close out a position when it would be most advantageous to do so. Portfolios investing in derivatives could lose more than the principal amount invested in those instruments.
_Volatility Prof le i
The volatility profile is a measure of the level of risk of the underlying fund and is based on a ranking of the three year standard deviation of the fund’s performance. The ranking is compared against other funds within the same broad category group. The higher the volatility, the higher the variation in returns.
_Strategy
_Portfolio Statistics As of 9/30/2014
Inception Date: 5/11/1987 Net Assets ($ in millions): $143,358.39 Number of Bond Holdings: 15824
Investment Advisor: Pacific Investment Management Co LLC
Portfolio Manager: William H. Gross
This investment option is available to your plan through a group variable contract offered to fund retirement programs. Your plan invests in the separate account which invests directly in the mutual fund.
The investment seeks maximum total return, consistent with preservation of capital and prudent investment management. The fund normally invests at least 65% of its total assets in a diversified portfolio of Fixed Income Instruments of varying maturities, which may be represented by forwards or derivatives such as options, futures contracts, or swap agreements. It invests primarily in investment-grade debt securities, but may invest up to 10% of its total assets in high yield securities ("junk bonds") rated B or higher by Moody's, or equivalently rated by S&P or Fitch, or, if unrated, determined by PIMCO to be of comparable quality.
VRU Code: 300
Morningstar Category Intermediate-Term Bond
As of 9/30/2014
Asset Allocation % Assets
Stock ...........................................................0.00 Foreign Stock ..............................................0.00 Bond ....................................................... 157.65 Foreign Bond .............................................25.77 Preferred ..................................................... 0.15 Convertible ..................................................0.00 Cash .........................................................-86.77 Other ........................................................... 3.21 Total 100.01% Largest Holdings % Assets
Fin Fut Euro$ Cme (Red) 12/14/15 ........... 28.45 Fin Fut Euro$ Cme (Red) 03/14/16 ........... 22.62 10 Year US Treasury Note Future Dec14 ...16.46 Fin Fut Euro$ Cme (Red) 09/19/16 ........... 10.82 Irs Usd 3.000 09/21/16-1y (Grn) Cme ........6.59 30 Year US Treasury Bond Future Dec14 ....5.37 Irs Usd 1.750 06/15/16-1y (Grn) Cme ........4.63 Fin Fut Euro$ Cme (Red) 06/13/16 ............. 4.52 Irs Usd 2.750 06/19/13-30y Cme ............... 2.62 US Treasury TIP ..........................................2.46 Total 104.54%
Publication Date 1Q 2015
Ve
RidgeWorth Mid-Cap Value Equity Investment Option
Processing and publication dates vary by fund company resulting in potential variations in “as of” dates. Information contained herein is subject to change at any time, and may vary based on underlying fund and/or share class considerations (if applicable). Certain sections, if shown, may not add up to 100% due to rounding. Morningstar Category: identifies funds based on investment styles as measured by their underlying portfolio holdings/statistics over 3 years. Investment options can move into other categories, or Morningstar may change their classification methodology. © 2013 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. © 2013 Massachusetts Mutual Life Insurance Company, Springfield, MA 01111-0001. All rights reserved. www.massmutual.com. MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) [of which Retirement Services is a division] and its affiliated companies and sales representatives. RS-31547-00.
_Risk/Return Spectrum
Stable Value/Money Market Bond Asset Allocation/
BalancedLarge Cap Mid Cap Small Cap International/
GlobalSpecialty
Mid-cap investing generally have higher risk and return characteristics than large-company stocks.
_Volatility Prof le i
The volatility profile is a measure of the level of risk of the underlying fund and is based on a ranking of the three year standard deviation of the fund’s performance. The ranking is compared against other funds within the same broad category group. The higher the volatility, the higher the variation in returns.
_Strategy
_Portfolio Statistics As of 12/31/2014
Inception Date: 10/27/2003 Net Assets ($ in millions): $4,087.26 Number of Stock Holdings: 60
Investment Advisor: RidgeWorth Investments Investment Sub Advisor: Ceredex Value Advisors LLC Portfolio Manager: Don Wordell
This investment option is available to your plan through a group variable contract offered to fund retirement programs. Your plan invests in the separate account which invests directly in the mutual fund.
The investment seeks to provide capital appreciation; current income is a secondary objective. The fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in U.S.-traded equity securities of mid-capitalization companies. The subadviser considers mid-capitalization companies to be companies with market capitalizations similar to those of companies in the Russell Midcap® Value Index.
Large
Mid
Small
Value Blend Growth
VRU Code: 408
Morningstar Category Mid-Cap Value
Morningstar Style Box
As of 12/31/2014
Asset Allocation % Assets
Stock .........................................................94.22 Foreign Stock ..............................................1.47 Bond ........................................................... 0.00 Foreign Bond ...............................................0.00 Preferred ..................................................... 0.00 Convertible ..................................................0.00 Cash ............................................................4.31 Other ........................................................... 0.00 Total 100.00% Largest Holdings % Assets
SanDisk Corp .............................................. 3.40 Ameriprise Financial Inc ..............................2.84 Omnicare Inc ...............................................2.63 Maxim Integrated Products Inc ...................2.52 Lazard Ltd ................................................... 2.51 Hartford Financial Services Group Inc ........ 2.51 NetApp Inc .................................................. 2.50 Juniper Networks Inc ..................................2.48 Cigna Corp .................................................. 2.43 Steris Corp ..................................................2.41 Total 26.23% Diversification % Assets
Basic Materials ............................................4.72 Consumer Cyclical .................................... 10.10 Financial Services ..................................... 24.65 Real Estate .................................................. 1.53 Consumer Defensive ................................... 1.27 Healthcare ................................................. 13.35 Utilities ........................................................6.40 Communication Services ............................ 2.19 Energy .........................................................6.87 Industrials ................................................. 12.79 Technology ................................................16.13 Total 100.00%
Publication Date 1Q 2015
Ve
RidgeWorth Small Cap Value Equity Investment Option
Processing and publication dates vary by fund company resulting in potential variations in “as of” dates. Information contained herein is subject to change at any time, and may vary based on underlying fund and/or share class considerations (if applicable). Certain sections, if shown, may not add up to 100% due to rounding. Morningstar Category: identifies funds based on investment styles as measured by their underlying portfolio holdings/statistics over 3 years. Investment options can move into other categories, or Morningstar may change their classification methodology. © 2013 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. © 2013 Massachusetts Mutual Life Insurance Company, Springfield, MA 01111-0001. All rights reserved. www.massmutual.com. MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) [of which Retirement Services is a division] and its affiliated companies and sales representatives. RS-31547-00.
_Risk/Return Spectrum
Stable Value/Money Market Bonds Asset Allocation
BalancedLarge Cap Mid Cap Small Cap International/
GlobalSpecialty
Small company investing involves specific risks not necessarily encountered in large company investing, such as increased volatitlity.
_Volatility Prof le i
The volatility profile is a measure of the level of risk of the underlying fund and is based on a ranking of the three year standard deviation of the fund’s performance. The ranking is compared against other funds within the same broad category group. The higher the volatility, the higher the variation in returns.
_Strategy
_Portfolio Statistics As of 12/31/2014
Inception Date: 10/9/2003 Net Assets ($ in millions): $1,278.11 Number of Stock Holdings: 83
Investment Advisor: RidgeWorth Investments Investment Sub Advisor: Ceredex Value Advisors LLC Portfolio Manager: Brett Barner
This investment option is available to your plan through a group variable contract offered to fund retirement programs. Your plan invests in the separate account which invests directly in the mutual fund.
The investment seeks to provide capital appreciation, and current income is as a secondary consideration. The fund invests at least 80% of net assets (plus any borrowings for investment purposes) in U.S. traded equity securities of small cap companies. U.S. traded equity securities may include American Depositary Receipts ("ADRs"). The subadviser considers small-capitalization companies to be companies with market capitalizations between $50 million and $3 billion or with market capitalizations similar to those of companies in the Russell 2000® Value Index.
Large
Mid
Small
Value Blend Growth
VRU Code: 409
Morningstar Category Small Blend
Morningstar Style Box
As of 12/31/2014
Asset Allocation % Assets
Stock .........................................................95.44 Foreign Stock ..............................................4.04 Bond ........................................................... 0.00 Foreign Bond ...............................................0.00 Preferred ..................................................... 0.00 Convertible ..................................................0.00 Cash ............................................................0.52 Other ........................................................... 0.00 Total 100.00% Largest Holdings % Assets
StanCorp Financial Group Inc ..................... 3.96 HSN Inc .......................................................3.75 Progressive Waste Solutions Ltd ................ 3.47 CubeSmart .................................................. 3.04 Fair Isaac Corp ............................................3.03 Hanover Insurance Group Inc ..................... 2.85 Steris Corp ..................................................2.84 AMC Entertainment Holdings Inc Class A ... 2.46 Plantronics ..................................................2.44 Herman Miller Inc ....................................... 2.28 Total 30.12% Diversification % Assets
Basic Materials ............................................4.88 Consumer Cyclical .................................... 24.67 Financial Services ..................................... 17.47 Real Estate .................................................. 9.32 Consumer Defensive ................................... 0.47 Healthcare ................................................... 4.50 Utilities ........................................................2.87 Communication Services ............................ 0.00 Energy .........................................................4.78 Industrials ................................................. 23.54 Technology ..................................................7.51 Total 100.01%
Publication Date 1Q 2015
Ve
T. Rowe Price Growth Stock Investment Option
Processing and publication dates vary by fund company resulting in potential variations in “as of” dates. Information contained herein is subject to change at any time, and may vary based on underlying fund and/or share class considerations (if applicable). Certain sections, if shown, may not add up to 100% due to rounding. Morningstar Category: identifies funds based on investment styles as measured by their underlying portfolio holdings/statistics over 3 years. Investment options can move into other categories, or Morningstar may change their classification methodology. © 2013 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. © 2013 Massachusetts Mutual Life Insurance Company, Springfield, MA 01111-0001. All rights reserved. www.massmutual.com. MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) [of which Retirement Services is a division] and its affiliated companies and sales representatives. RS-31547-00.
_Risk/Return Spectrum
Stable Value/Money Market Bond Asset Allocation/
BalancedLarge Cap Mid Cap Small Cap International/
GlobalSpecialty
_Volatility Prof le i
The volatility profile is a measure of the level of risk of the underlying fund and is based on a ranking of the three year standard deviation of the fund’s performance. The ranking is compared against other funds within the same broad category group. The higher the volatility, the higher the variation in returns.
_Strategy
_Portfolio Statistics As of 12/31/2014
Inception Date: 9/30/2002 Net Assets ($ in millions): $42,993.30 Number of Stock Holdings: 97
Investment Advisor: T. Rowe Price Associates, Inc. Portfolio Manager: P. Robert Bartolo
This investment option is available to your plan through a group variable contract offered to fund retirement programs. Your plan invests in the separate account which invests directly in the mutual fund.
The investment seeks long-term capital growth through investments in stocks. The fund will normally invest at least 80% of its net assets (including any borrowings for investment purposes) in the common stocks of a diversified group of growth companies. It generally seeks investments in stocks of large-capitalization companies. While most assets will typically be invested in U.S. common stocks, the fund may invest in foreign stocks in keeping with the fund's objectives. It may sell securities for a variety of reasons, such as to secure gains, limit losses, or redeploy assets into more promising opportunities.
Large
Mid
Small
Value Blend Growth
VRU Code: 824
Morningstar Category Large Growth
Morningstar Style Box
As of 12/31/2014
Asset Allocation % Assets
Stock .........................................................87.04 Foreign Stock ............................................10.46 Bond ........................................................... 0.00 Foreign Bond ...............................................0.00 Preferred ..................................................... 0.00 Convertible ..................................................0.00 Cash ............................................................1.42 Other ........................................................... 1.09 Total 100.01% Largest Holdings % Assets
Amazon.com Inc ......................................... 3.54 Visa Inc Class A .......................................... 3.35 Priceline Group Inc ..................................... 3.06 Google Inc Class C ......................................2.72 Google Inc Class A ......................................2.70 MasterCard Inc Class A ...............................2.26 Facebook Inc Class A ..................................2.23 McKesson Corp ...........................................2.18 American Airlines Group Inc ....................... 2.17 Gilead Sciences Inc .....................................2.15 Total 26.36% Diversification % Assets
Basic Materials ............................................2.07 Consumer Cyclical .................................... 28.04 Financial Services ....................................... 9.31 Real Estate .................................................. 1.55 Consumer Defensive ................................... 1.56 Healthcare ................................................. 19.98 Utilities ........................................................0.00 Communication Services ............................ 3.04 Energy .........................................................2.23 Industrials ................................................. 14.33 Technology ................................................17.89 Total 100.00%
Publication Date 1Q 2015
Ve
Vanguard 500 Index Investment Option
Processing and publication dates vary by fund company resulting in potential variations in “as of” dates. Information contained herein is subject to change at any time, and may vary based on underlying fund and/or share class considerations (if applicable). Certain sections, if shown, may not add up to 100% due to rounding. Morningstar Category: identifies funds based on investment styles as measured by their underlying portfolio holdings/statistics over 3 years. Investment options can move into other categories, or Morningstar may change their classification methodology. © 2013 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. © 2013 Massachusetts Mutual Life Insurance Company, Springfield, MA 01111-0001. All rights reserved. www.massmutual.com. MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) [of which Retirement Services is a division] and its affiliated companies and sales representatives. RS-31547-00.
_Risk/Return Spectrum
Stable Value/Money Market Bond Asset Allocation/
BalancedLarge Cap Mid Cap Small Cap International/
GlobalSpecialty
_Volatility Prof le i
The volatility profile is a measure of the level of risk of the underlying fund and is based on a ranking of the three year standard deviation of the fund’s performance. The ranking is compared against other funds within the same broad category group. The higher the volatility, the higher the variation in returns.
_Strategy
_Portfolio Statistics As of 6/30/2014
Inception Date: 9/29/2006 Net Assets ($ in millions): $156,993.76 Number of Stock Holdings: 504
Investment Advisor: Vanguard Group, Inc. Portfolio Manager: Michael H. Buek
This investment option is available to your plan through a group variable contract offered to fund retirement programs. Your plan invests in the separate account which invests directly in the mutual fund.
The investment seeks to track the performance of a benchmark index that measures the investment return of large-capitalization stocks. The fund employs an indexing investment approach designed to track the performance of the Standard & Poor's 500 Index, a widely recognized benchmark of U.S. stock market performance that is dominated by the stocks of large U.S. companies. It attempts to replicate the target index by investing all, or substantially all, of its assets in the stocks that make up the index, holding each stock in approximately the same proportion as its weighting in the index.
Large
Mid
Small
Value Blend Growth
VRU Code: 469
Morningstar Category Large Blend
Morningstar Style Box
As of 6/30/2014
Asset Allocation % Assets
Stock .........................................................97.89 Foreign Stock ..............................................1.68 Bond ........................................................... 0.00 Foreign Bond ...............................................0.00 Preferred ..................................................... 0.00 Convertible ..................................................0.00 Cash ............................................................0.43 Other ........................................................... 0.00 Total 100.00% Largest Holdings % Assets
Apple Inc .....................................................3.20 Exxon Mobil Corporation ............................ 2.47 Microsoft Corp ............................................1.79 Johnson & Johnson ....................................1.69 General Electric Co ......................................1.51 Wells Fargo & Co ........................................ 1.44 Chevron Corp ..............................................1.42 JPMorgan Chase & Co ................................1.25 Procter & Gamble Co ..................................1.22 Berkshire Hathaway Inc Class B ................. 1.19 Total 17.18% Diversification % Assets
Basic Materials ............................................3.36 Consumer Cyclical .................................... 10.35 Financial Services ..................................... 14.76 Real Estate .................................................. 1.94 Consumer Defensive ................................... 9.98 Healthcare ................................................. 13.24 Utilities ........................................................3.15 Communication Services ............................ 3.99 Energy .......................................................10.83 Industrials ................................................. 11.20 Technology ................................................17.20 Total 100.00%
Publication Date 4Q 2014
Ve
Vanguard Mid-Cap Index Investment Option
Processing and publication dates vary by fund company resulting in potential variations in “as of” dates. Information contained herein is subject to change at any time, and may vary based on underlying fund and/or share class considerations (if applicable). Certain sections, if shown, may not add up to 100% due to rounding. Morningstar Category: identifies funds based on investment styles as measured by their underlying portfolio holdings/statistics over 3 years. Investment options can move into other categories, or Morningstar may change their classification methodology. © 2013 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. © 2013 Massachusetts Mutual Life Insurance Company, Springfield, MA 01111-0001. All rights reserved. www.massmutual.com. MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) [of which Retirement Services is a division] and its affiliated companies and sales representatives. RS-31547-00.
_Risk/Return Spectrum
Stable Value/Money Market Bond Asset Allocation/
BalancedLarge Cap Mid Cap Small Cap International/
GlobalSpecialty
Mid-cap investing generally have higher risk and return characteristics than large-company stocks.
_Volatility Prof le i
The volatility profile is a measure of the level of risk of the underlying fund and is based on a ranking of the three year standard deviation of the fund’s performance. The ranking is compared against other funds within the same broad category group. The higher the volatility, the higher the variation in returns.
_Strategy
_Portfolio Statistics As of 12/31/2014
Inception Date: 5/21/1998 Net Assets ($ in millions): $48,921.99 Number of Stock Holdings: 376
Investment Advisor: Vanguard Group, Inc. Portfolio Manager: Donald Butler
This investment option is available to your plan through a group variable contract offered to fund retirement programs. Your plan invests in the separate account which invests directly in the mutual fund.
The investment seeks to track the performance of a benchmark index that measures the investment return of mid-capitalization stocks. The fund employs an indexing investment approach designed to track the performance of the CRSP U.S. Mid Cap Index, a broadly diversified index of stocks of mid-size U.S. companies. It attempts to replicate the target index by investing all, or substantially all, of its assets in the stocks that make up the index, holding each stock in approximately the same proportion as its weighting in the index.
Large
Mid
Small
Value Blend Growth
VRU Code: 761
Morningstar Category Mid-Cap Blend
Morningstar Style Box
As of 12/31/2014
Asset Allocation % Assets
Stock .........................................................97.44 Foreign Stock ..............................................2.18 Bond ........................................................... 0.00 Foreign Bond ...............................................0.00 Preferred ..................................................... 0.00 Convertible ..................................................0.00 Cash ............................................................0.38 Other ........................................................... 0.00 Total 100.00% Largest Holdings % Assets
Health Care REIT, Inc. ................................. 0.75 United Continental Holdings Inc ................. 0.75 AvalonBay Communities Inc ....................... 0.65 Delphi Automotive PLC ............................... 0.65 L Brands Inc ............................................... 0.65 Sherwin-Williams Co ...................................0.65 Chipotle Mexican Grill Inc Class A .............. 0.64 Mylan Inc .................................................... 0.64 Seagate Technology PLC .............................0.63 Moody"s Corporation .................................. 0.61 Total 6.62% Diversification % Assets
Basic Materials ............................................5.71 Consumer Cyclical .................................... 18.63 Financial Services ..................................... 10.30 Real Estate .................................................. 5.90 Consumer Defensive ................................... 7.37 Healthcare ................................................. 10.27 Utilities ........................................................5.21 Communication Services ............................ 1.61 Energy .........................................................6.22 Industrials ................................................. 13.96 Technology ................................................14.81 Total 99.99%
Publication Date 1Q 2015
Ve
Vanguard Small-Cap Index Investment Option
Processing and publication dates vary by fund company resulting in potential variations in “as of” dates. Information contained herein is subject to change at any time, and may vary based on underlying fund and/or share class considerations (if applicable). Certain sections, if shown, may not add up to 100% due to rounding. Morningstar Category: identifies funds based on investment styles as measured by their underlying portfolio holdings/statistics over 3 years. Investment options can move into other categories, or Morningstar may change their classification methodology. © 2013 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. © 2013 Massachusetts Mutual Life Insurance Company, Springfield, MA 01111-0001. All rights reserved. www.massmutual.com. MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) [of which Retirement Services is a division] and its affiliated companies and sales representatives. RS-31547-00.
_Risk/Return Spectrum
Stable Value/Money Market Bonds Asset Allocation
BalancedLarge Cap Mid Cap Small Cap International/
GlobalSpecialty
Small company investing involves specific risks not necessarily encountered in large company investing, such as increased volatitlity.
_Volatility Prof le i
The volatility profile is a measure of the level of risk of the underlying fund and is based on a ranking of the three year standard deviation of the fund’s performance. The ranking is compared against other funds within the same broad category group. The higher the volatility, the higher the variation in returns.
_Strategy
_Portfolio Statistics As of 6/30/2014
Inception Date: 12/15/2006 Net Assets ($ in millions): $38,067.79 Number of Stock Holdings: 1461
Investment Advisor: Vanguard Group, Inc. Portfolio Manager: Michael H. Buek
This investment option is available to your plan through a group variable contract offered to fund retirement programs. Your plan invests in the separate account which invests directly in the mutual fund.
The investment seeks to track the performance of a benchmark index that measures the investment return of small-capitalization stocks. The fund employs an indexing investment approach designed to track the performance of the CRSP US Small Cap Index, a broadly diversified index of stocks of small U.S. companies. It attempts to replicate the target index by investing all, or substantially all, of its assets in the stocks that make up the index, holding each stock in approximately the same proportion as its weighting in the index.
Large
Mid
Small
Value Blend Growth
VRU Code: 760
Morningstar Category Small Blend
Morningstar Style Box
As of 6/30/2014
Asset Allocation % Assets
Stock .........................................................98.18 Foreign Stock ..............................................1.72 Bond ........................................................... 0.00 Foreign Bond ...............................................0.00 Preferred ..................................................... 0.00 Convertible ..................................................0.00 Cash ............................................................0.06 Other ........................................................... 0.04 Total 100.00% Largest Holdings % Assets
Hillshire Brands Co ..................................... 0.27 Salix Pharmaceuticals Ltd ...........................0.26 Foot Locker Inc ........................................... 0.26 Arthur J Gallagher & Co ..............................0.26 Harman International Industries Inc ........... 0.26 Alkermes PLC ............................................. 0.26 Gannett Co Inc ............................................ 0.25 Packaging Corp of America .........................0.25 Rite Aid Corp ...............................................0.25 Snap-on Inc ................................................ 0.24 Total 2.56% Diversification % Assets
Basic Materials ............................................5.45 Consumer Cyclical .................................... 14.62 Financial Services ..................................... 12.55 Real Estate ................................................ 10.89 Consumer Defensive ................................... 3.73 Healthcare ................................................... 9.96 Utilities ........................................................3.81 Communication Services ............................ 0.91 Energy .........................................................5.65 Industrials ................................................. 17.14 Technology ................................................15.29 Total 100.00%
Publication Date 4Q 2014
Ve
Vanguard Target Retirement 2015 Investment Option
Processing and publication dates vary by fund company resulting in potential variations in “as of” dates. Information contained herein is subject to change at any time, and may vary based on underlying fund and/or share class considerations (if applicable). Certain sections, if shown, may not add up to 100% due to rounding. Morningstar Category: identifies funds based on investment styles as measured by their underlying portfolio holdings/statistics over 3 years. Investment options can move into other categories, or Morningstar may change their classification methodology. © 2013 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. © 2013 Massachusetts Mutual Life Insurance Company, Springfield, MA 01111-0001. All rights reserved. www.massmutual.com. MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) [of which Retirement Services is a division] and its affiliated companies and sales representatives. RS-31547-00.
_Risk/Return Spectrum
Stable Value/Money Market Bond Asset Allocation/
BalancedLarge Cap Mid Cap Small Cap International/
GlobalSpecialty
The target date aligns with the year closest to the expected retirement date. Performance of target date funds depends on the performance of the underlying mutual funds and is not guaranteed at any time, including the target date. These funds may be subject to the volatility of global financial markets (domestic and international) and additional risks associated with investing in high yield, small cap and foreign securities. The principal value of target date funds isn't guaranteed even at the target date. A target date fund distributes contributions around a broad spectrum of stocks, bonds and cash. These allocations are rebalanced over time so the asset mix gets more conservative as the target date approaches.
_Volatility Prof le i
The volatility profile is a measure of the level of risk of the underlying fund and is based on a ranking of the three year standard deviation of the fund’s performance. The ranking is compared against other funds within the same broad category group. The higher the volatility, the higher the variation in returns.
_Strategy
_Portfolio Statistics As of 12/31/2014
Inception Date: 10/27/2003 Net Assets ($ in millions): $21,906.95
Investment Advisor: Vanguard Group, Inc. Portfolio Manager: Duane Kelly
This investment option is available to your plan through a group variable contract offered to fund retirement programs. Your plan invests in the separate account which invests directly in the mutual fund.
The investment seeks to provide capital appreciation and current income consistent with its current asset allocation. The fund invests in other Vanguard mutual funds according to an asset allocation strategy designed for investors planning to retire and leave the workforce in or within a few years of 2015 (the target year). The fund's asset allocation will become more conservative over time, meaning that the percentage of assets allocated to stocks will decrease while the percentage of assets allocated to bonds and other fixed income investments will increase.
VRU Code: 819
Morningstar Category Target Date 2011-2015
As of 12/31/2014
Asset Allocation % Assets
Stock .........................................................35.39 Foreign Stock ............................................14.83 Bond ......................................................... 32.84 Foreign Bond .............................................12.67 Preferred ..................................................... 0.11 Convertible ..................................................0.00 Cash ............................................................3.55 Other ........................................................... 0.60 Total 99.99% Largest Holdings % Assets
Vanguard Total Stock Mkt Idx Inv .............35.87 Vanguard Total Bond Market II Idx Inv ..... 31.88 Vanguard Total Intl Stock Index Inv .......... 15.03 Vanguard Total Intl Bd Idx Investor .............9.88 Vanguard Shrt-Term Infl-Prot Sec Idx Inv ...7.31 Total 99.97% Diversification % Assets
Basic Materials ............................................4.94 Consumer Cyclical .................................... 11.30 Financial Services ..................................... 16.79 Real Estate .................................................. 3.75 Consumer Defensive ................................... 8.92 Healthcare ................................................. 12.72 Utilities ........................................................3.23 Communication Services ............................ 4.08 Energy .........................................................7.42 Industrials ................................................. 11.79 Technology ................................................15.06 Total 100.00%
Publication Date 1Q 2015
Ve
Vanguard Target Retirement 2025 Investment Option
Processing and publication dates vary by fund company resulting in potential variations in “as of” dates. Information contained herein is subject to change at any time, and may vary based on underlying fund and/or share class considerations (if applicable). Certain sections, if shown, may not add up to 100% due to rounding. Morningstar Category: identifies funds based on investment styles as measured by their underlying portfolio holdings/statistics over 3 years. Investment options can move into other categories, or Morningstar may change their classification methodology. © 2013 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. © 2013 Massachusetts Mutual Life Insurance Company, Springfield, MA 01111-0001. All rights reserved. www.massmutual.com. MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) [of which Retirement Services is a division] and its affiliated companies and sales representatives. RS-31547-00.
_Risk/Return Spectrum
Stable Value/Money Market Bond Asset Allocation/
BalancedLarge Cap Mid Cap Small Cap International/
GlobalSpecialty
The target date aligns with the year closest to the expected retirement date. Performance of target date funds depends on the performance of the underlying mutual funds and is not guaranteed at any time, including the target date. These funds may be subject to the volatility of global financial markets (domestic and international) and additional risks associated with investing in high yield, small cap and foreign securities. The principal value of target date funds isn't guaranteed even at the target date. A target date fund distributes contributions around a broad spectrum of stocks, bonds and cash. These allocations are rebalanced over time so the asset mix gets more conservative as the target date approaches.
_Volatility Prof le i
The volatility profile is a measure of the level of risk of the underlying fund and is based on a ranking of the three year standard deviation of the fund’s performance. The ranking is compared against other funds within the same broad category group. The higher the volatility, the higher the variation in returns.
_Strategy
_Portfolio Statistics As of 12/31/2014
Inception Date: 10/27/2003 Net Assets ($ in millions): $32,612.64
Investment Advisor: Vanguard Group, Inc. Portfolio Manager: Duane Kelly
This investment option is available to your plan through a group variable contract offered to fund retirement programs. Your plan invests in the separate account which invests directly in the mutual fund.
The investment seeks to provide capital appreciation and current income consistent with its current asset allocation. The fund invests in other Vanguard mutual funds according to an asset allocation strategy designed for investors planning to retire and leave the workforce in or within a few years of 2025 (the target year). The fund's asset allocation will become more conservative over time, meaning that the percentage of assets allocated to stocks will decrease while the percentage of assets allocated to bonds and other fixed income investments will increase.
VRU Code: 968
Morningstar Category Target Date 2021-2025
As of 12/31/2014
Asset Allocation % Assets
Stock .........................................................47.14 Foreign Stock ............................................19.92 Bond ......................................................... 21.52 Foreign Bond ...............................................8.67 Preferred ..................................................... 0.15 Convertible ..................................................0.00 Cash ............................................................1.95 Other ........................................................... 0.65 Total 100.00% Largest Holdings % Assets
Vanguard Total Stock Mkt Idx Inv .............47.78 Vanguard Total Bond Market II Idx Inv ..... 25.63 Vanguard Total Intl Stock Index Inv .......... 20.19 Vanguard Total Intl Bd Idx Investor .............6.33 Total 99.93% Diversification % Assets
Basic Materials ............................................4.95 Consumer Cyclical .................................... 11.30 Financial Services ..................................... 16.80 Real Estate .................................................. 3.75 Consumer Defensive ................................... 8.92 Healthcare ................................................. 12.71 Utilities ........................................................3.23 Communication Services ............................ 4.08 Energy .........................................................7.42 Industrials ................................................. 11.79 Technology ................................................15.05 Total 100.00%
Publication Date 1Q 2015
Ve
Vanguard Target Retirement 2035 Investment Option
Processing and publication dates vary by fund company resulting in potential variations in “as of” dates. Information contained herein is subject to change at any time, and may vary based on underlying fund and/or share class considerations (if applicable). Certain sections, if shown, may not add up to 100% due to rounding. Morningstar Category: identifies funds based on investment styles as measured by their underlying portfolio holdings/statistics over 3 years. Investment options can move into other categories, or Morningstar may change their classification methodology. © 2013 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. © 2013 Massachusetts Mutual Life Insurance Company, Springfield, MA 01111-0001. All rights reserved. www.massmutual.com. MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) [of which Retirement Services is a division] and its affiliated companies and sales representatives. RS-31547-00.
_Risk/Return Spectrum
Stable Value/Money Market Bond Asset Allocation/
BalancedLarge Cap Mid Cap Small Cap International/
GlobalSpecialty
The target date aligns with the year closest to the expected retirement date. Performance of target date funds depends on the performance of the underlying mutual funds and is not guaranteed at any time, including the target date. These funds may be subject to the volatility of global financial markets (domestic and international) and additional risks associated with investing in high yield, small cap and foreign securities. The principal value of target date funds isn't guaranteed even at the target date. A target date fund distributes contributions around a broad spectrum of stocks, bonds and cash. These allocations are rebalanced over time so the asset mix gets more conservative as the target date approaches.
_Volatility Prof le i
The volatility profile is a measure of the level of risk of the underlying fund and is based on a ranking of the three year standard deviation of the fund’s performance. The ranking is compared against other funds within the same broad category group. The higher the volatility, the higher the variation in returns.
_Strategy
_Portfolio Statistics As of 12/31/2014
Inception Date: 10/27/2003 Net Assets ($ in millions): $24,585.17
Investment Advisor: Vanguard Group, Inc. Portfolio Manager: Duane Kelly
This investment option is available to your plan through a group variable contract offered to fund retirement programs. Your plan invests in the separate account which invests directly in the mutual fund.
The investment seeks to provide capital appreciation and current income consistent with its current asset allocation. The fund invests in other Vanguard mutual funds according to an asset allocation strategy designed for investors planning to retire and leave the workforce in or within a few years of 2035 (the target year). The fund's asset allocation will become more conservative over time, meaning that the percentage of assets allocated to stocks will decrease while the percentage of assets allocated to bonds and other fixed income investments will increase.
VRU Code: 969
Morningstar Category Target Date 2031-2035
As of 12/31/2014
Asset Allocation % Assets
Stock .........................................................57.43 Foreign Stock ............................................24.32 Bond ......................................................... 11.54 Foreign Bond ...............................................4.60 Preferred ..................................................... 0.18 Convertible ..................................................0.00 Cash ............................................................1.24 Other ........................................................... 0.69 Total 100.00% Largest Holdings % Assets
Vanguard Total Stock Mkt Idx Inv .............58.21 Vanguard Total Intl Stock Index Inv .......... 24.65 Vanguard Total Bond Market II Idx Inv ..... 13.75 Vanguard Total Intl Bd Idx Investor .............3.34 Total 99.95% Diversification % Assets
Basic Materials ............................................4.95 Consumer Cyclical .................................... 11.30 Financial Services ..................................... 16.80 Real Estate .................................................. 3.75 Consumer Defensive ................................... 8.92 Healthcare ................................................. 12.71 Utilities ........................................................3.23 Communication Services ............................ 4.08 Energy .........................................................7.42 Industrials ................................................. 11.79 Technology ................................................15.04 Total 99.99%
Publication Date 1Q 2015
Ve
Vanguard Target Retirement 2045 Investment Option
Processing and publication dates vary by fund company resulting in potential variations in “as of” dates. Information contained herein is subject to change at any time, and may vary based on underlying fund and/or share class considerations (if applicable). Certain sections, if shown, may not add up to 100% due to rounding. Morningstar Category: identifies funds based on investment styles as measured by their underlying portfolio holdings/statistics over 3 years. Investment options can move into other categories, or Morningstar may change their classification methodology. © 2013 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. © 2013 Massachusetts Mutual Life Insurance Company, Springfield, MA 01111-0001. All rights reserved. www.massmutual.com. MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) [of which Retirement Services is a division] and its affiliated companies and sales representatives. RS-31547-00.
_Risk/Return Spectrum
Stable Value/Money Market Bond Asset Allocation/
BalancedLarge Cap Mid Cap Small Cap International/
GlobalSpecialty
The target date aligns with the year closest to the expected retirement date. Performance of target date funds depends on the performance of the underlying mutual funds and is not guaranteed at any time, including the target date. These funds may be subject to the volatility of global financial markets (domestic and international) and additional risks associated with investing in high yield, small cap and foreign securities. The principal value of target date funds isn't guaranteed even at the target date. A target date fund distributes contributions around a broad spectrum of stocks, bonds and cash. These allocations are rebalanced over time so the asset mix gets more conservative as the target date approaches.
_Volatility Prof le i
The volatility profile is a measure of the level of risk of the underlying fund and is based on a ranking of the three year standard deviation of the fund’s performance. The ranking is compared against other funds within the same broad category group. The higher the volatility, the higher the variation in returns.
_Strategy
_Portfolio Statistics As of 12/31/2014
Inception Date: 10/27/2003 Net Assets ($ in millions): $15,028.85
Investment Advisor: Vanguard Group, Inc. Portfolio Manager: Duane Kelly
This investment option is available to your plan through a group variable contract offered to fund retirement programs. Your plan invests in the separate account which invests directly in the mutual fund.
The investment seeks to provide capital appreciation and current income consistent with its current asset allocation. The fund invests in other Vanguard mutual funds according to an asset allocation strategy designed for investors planning to retire and leave the workforce in or within a few years of 2045 (the target year). The fund's asset allocation will become more conservative over time, meaning that the percentage of assets allocated to stocks will decrease while the percentage of assets allocated to bonds and other fixed income investments will increase.
VRU Code: 970
Morningstar Category Target Date 2041-2045
As of 12/31/2014
Asset Allocation % Assets
Stock .........................................................62.07 Foreign Stock ............................................26.56 Bond ........................................................... 6.80 Foreign Bond ...............................................2.73 Preferred ..................................................... 0.19 Convertible ..................................................0.00 Cash ............................................................0.94 Other ........................................................... 0.72 Total 100.01% Largest Holdings % Assets
Vanguard Total Stock Mkt Idx Inv .............62.91 Vanguard Total Intl Stock Index Inv .......... 26.93 Vanguard Total Bond Market II Idx Inv ....... 8.09 Vanguard Total Intl Bd Idx Investor .............1.99 Total 99.92% Diversification % Assets
Basic Materials ............................................4.96 Consumer Cyclical .................................... 11.30 Financial Services ..................................... 16.82 Real Estate .................................................. 3.75 Consumer Defensive ................................... 8.93 Healthcare ................................................. 12.70 Utilities ........................................................3.23 Communication Services ............................ 4.09 Energy .........................................................7.42 Industrials ................................................. 11.79 Technology ................................................15.02 Total 100.01%
Publication Date 1Q 2015
Ve
Vanguard Target Retirement Income Investment Option
Processing and publication dates vary by fund company resulting in potential variations in “as of” dates. Information contained herein is subject to change at any time, and may vary based on underlying fund and/or share class considerations (if applicable). Certain sections, if shown, may not add up to 100% due to rounding. Morningstar Category: identifies funds based on investment styles as measured by their underlying portfolio holdings/statistics over 3 years. Investment options can move into other categories, or Morningstar may change their classification methodology. © 2013 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. © 2013 Massachusetts Mutual Life Insurance Company, Springfield, MA 01111-0001. All rights reserved. www.massmutual.com. MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) [of which Retirement Services is a division] and its affiliated companies and sales representatives. RS-31547-00.
_Risk/Return Spectrum
Stable Value/Money Market Bond Asset Allocation/
BalancedLarge Cap Mid Cap Small Cap International/
GlobalSpecialty
The target date aligns with the year closest to the expected retirement date. Performance of target date funds depends on the performance of the underlying mutual funds and is not guaranteed at any time, including the target date. These funds may be subject to the volatility of global financial markets (domestic and international) and additional risks associated with investing in high yield, small cap and foreign securities. The principal value of target date funds isn't guaranteed even at the target date. A target date fund distributes contributions around a broad spectrum of stocks, bonds and cash. These allocations are rebalanced over time so the asset mix gets more conservative as the target date approaches.
_Volatility Prof le i
The volatility profile is a measure of the level of risk of the underlying fund and is based on a ranking of the three year standard deviation of the fund’s performance. The ranking is compared against other funds within the same broad category group. The higher the volatility, the higher the variation in returns.
_Strategy
_Portfolio Statistics As of 12/31/2014
Inception Date: 10/27/2003 Net Assets ($ in millions): $11,483.03
Investment Advisor: Vanguard Group, Inc. Portfolio Manager: Duane Kelly
This investment option is available to your plan through a group variable contract offered to fund retirement programs. Your plan invests in the separate account which invests directly in the mutual fund.
The investment seeks to provide current income and some capital appreciation. The fund invests in other Vanguard mutual funds according to an asset allocation strategy designed for investors currently in retirement. Its indirect bond holdings are a diversified mix of short-, intermediate-, and long-term U.S. government, U.S. agency, and investment-grade U.S. corporate bonds; inflation-protected public obligations issued by the U.S. Treasury; mortgage-backed and asset-backed securities; and government, agency, corporate, and securitized investment-grade foreign bonds issued in currencies other than the U.S. dollar.
VRU Code: 971
Morningstar Category Retirement Income
As of 12/31/2014
Asset Allocation % Assets
Stock .........................................................20.98 Foreign Stock ..............................................8.74 Bond ......................................................... 46.62 Foreign Bond .............................................17.45 Preferred ..................................................... 0.07 Convertible ..................................................0.00 Cash ............................................................5.60 Other ........................................................... 0.54 Total 100.00% Largest Holdings % Assets
Vanguard Total Bond Market II Idx Inv ..... 39.02 Vanguard Total Stock Mkt Idx Inv .............21.26 Vanguard Shrt-Term Infl-Prot Sec Idx Inv .16.68 Vanguard Total Intl Bd Idx Investor ...........14.14 Vanguard Total Intl Stock Index Inv ............ 8.86 Total 99.96% Diversification % Assets
Basic Materials ............................................4.93 Consumer Cyclical .................................... 11.30 Financial Services ..................................... 16.78 Real Estate .................................................. 3.75 Consumer Defensive ................................... 8.92 Healthcare ................................................. 12.73 Utilities ........................................................3.23 Communication Services ............................ 4.08 Energy .........................................................7.42 Industrials ................................................. 11.79 Technology ................................................15.07 Total 100.00%
Publication Date 1Q 2015
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© 2014 Massachusetts Mutual Life Insurance Company, Springfield, MA 01111-0001. All rights reserved. www.massmutual.com. MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) [of which Retirement Services is a division] and its affiliated companies and sales representatives.