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CBB Enrollment Booklet
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The Cooperative Baptist Fellowship
403(b) Retirement Plan
Enrollment Booklet
Enroll today Plan for tomorrow Take an important step toward making tomorrow financially secure and join the Cooperative Baptist Fellowship 403(b) Retirement Plan, available only through the Church Benefits Board. In conjunction with our benefit provider The Standard, the information on the following pages will assist you in taking this important step for you and your family. The CBF 403(b) Retirement Plan was specifically created for CBF staff, churches and related organizations. It allows members to take advantage of tax benefits provided for church-related organizations and employees. Information for Informed Decisions If you are joining for the first time, or rolling over benefits from another retirement plan, you’ll find the forms and information you need to make this process as painless as possible. In the Plan Overview section, you’ll find information on the savings and investing tools offered by The Standard and Church Benefits Board. In addition to the many options, you’ll find statistics and portfolio data to help you make informed decisions about retirement investing. Need More Help? Detailed investing information is also available at www.churchbenefits.org. The staff at the Church Benefits Board is committed to helping you make the best possible decisions on benefits that support quality leadership in God’s mission. If you have additional questions, or would like to know how to begin the process of transferring your retirement funds to the Church Benefits Board, please call our office direct at 800-352-8741. You can also e-mail your questions to [email protected]. We look forward to hearing from you soon!
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Enroll today Plan for tomorrow
Take an important step toward making tomorrow financially secure. Join your retirement savings plan today. Your employer’s plan offers a rewarding way to invest for your retirement. Take advantage of this opportunity. The amount you invest now might make the difference between having financial security in retirement and just getting by.
It’s easy to enroll in your employer’s retirement savings plan. These enrollment materials have all of the forms you need and information on the investment choices offered by the plan. Please read all of the materials you receive carefully before making any decision about how to invest your money. If you have any questions about the plan, be sure to contact your plan administrator.
How to Sign Up
Step 1: Determine how much you want to save.
Step 2: Take the “Investor Profile Quiz” to identify your preferred investing style.
Step 3: Determine how you’d like to invest, whether it’s using a recommended pre-mixed portfolio or selecting your own asset allocation. You can modify your investments online at any time.
Step 4: Decide if you’d like to use the Automatic Rebalancer service.
Step 5: Select the method you’ll use to enro ll:
• The paper method using this booklet.
• The CBB membership enrollment package; call the Church Benefits Board at 800.352.8741.
Step 6: Deliver, fax or mail the completed forms to the designated person at CBB office.
Step 7: Select the method you’ll use to register using the Personal Identification Number (PIN) you received via mail from The Standard:
• Online at retirement.standard.com.
— Register using your Social Security number and assigned Personal Identification Number (PIN). If you need a PIN, call 800.858.5420.
• The automated telephone system, INFOLINE, by calling 800.858.5420.
— Register using your Social Security number and assigned PIN.
— Press “7.”
• CalltheChurchBenefitsBoardforassistanceat800.352.8741.
Step 8: Complete or change your investment directive
• Online: go to “Update Account,” then “Change Directives. ”
• Paper: use the Investing Form in this booklet.
Step 9: Deliver, fax or mail the completed form to the designated person or CBB office.
Step 10: Congratulate yourself for signing up!
To complete the enrollment process, return the forms to the designated person or department. Once received, your contributions will be deposited in your retirement account beginning with your first paycheck following your date of participation.
Accessing your account Manage your retirement plan online or by phone
INFOLINE
From a touch-tone phone, call 800.858.5420. Using your phone keypad:
• Press1tocontinueinEnglish,orpress2tocontinueinSpanish.
• EnteryourSocialSecuritynumberwhenprompted.
• Press1ifyouknowyourPIN,orpress2torequestaPIN.
• IfyouknowyourPIN,enterit.
• Foroneofthefollowingservices,presstheappropriatenumber:
1 Accessaccountbalance
2 Fundinformation
3 Accessandchangeinvestmentdirectives
4 Transferassetsbetweeninvestmentoptions
5 Changecontributionrate(ifallowedbyyourplan)
6 ChangeyourPIN
7 EnrollviaINFOLINE(ifallowedbyyourplan)
9 Hear options again
0 Talktoacustomerservicerepresentative
Accessing Personal Savings Center
• Visitretirement.standard.comandselecttheIndividualstabintheupper-right corner.
• Thefirsttimeyouvisit,createaloginandpasswordbyselecting“RegisterAccount”andprovidingtherequestedinformation.You’llneedyourSocialSecuritynumberandPINtoregister.
• ToaccessthePersonalSavingsCenter,selectthelinkintherightnavigationcolumnandenteryourloginandpassword.
• Moveyourmouseoverthenavigationbaratthetopofthepagetoseeadditionalfeaturesofthesite.
Personal Savings Center
PersonalSavingsCenterprovidesdetailedaccountinformationandvaluableservicestohelpyoumanage your retirement account online, including:
• viewing your account balance — intotal,byinvestmentoptionorbymoneysource
• transferring existing account balances
• obtaining details of every investment option available in your plan, such as major holdings, asset class and risk characteristics
• changing investment directives foryourfuturecontributions
• using the Automatic Rebalancer to maintain your original asset allocation(ifyourplanpermitsthisoption)
• choosing how much to contributeandhowyouwantthosecontributionsinvested(ifyourplanoffersonlineenrollment)
• viewing regularly updated fund performanceforeveryinvestmentinyourplan
• examining your account transaction history
• using Retirement Planning Resources to access educational materials,interactivecalculatorsandworksheetsforplanningyour retirement strategy.
CBF 403(b) Plan MEMBERSHIP APPLICATION FORM
Church/Employer Acct: New or #__________
Please check below the participant program enrollment(s), indicate monthly contribution amount or salary annual percentage, and the plan effective date.
Monthly Contributions
Effective Date
403(b) Church/Employer Retirement Plan Contribution. Employer monthly contribution amount. Employee needs to complete the 403(b) Retirement Beneficiary section below.
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403(b) Employee Deferral Election Contribution. Employee elects to defer from each paycheck the following percentage or amount as pre-tax contribution. Complete the CBB SRA Form for payroll processing, see 2nd page for more info on ED Plan
Employee Life, AD&D & Disability Insurance. ELIGIBILITY – Enrolled in a CBB 403(b) Account and with taxable benefits working at least 20 hour or per employer policy. Complete the CBB Insurance section below. 3%
Note: The effective date can’t be prior to the employee’s hire date. The first month’s premium check will be allocated to the month indicated above.
1- Participant Information Title Last Name First Name Middle Initial
Home Address Social Security # Date of Birth
City / State / Zip Gender Male Female Home Phone
Date of Hire Job Title Email
2- Employment Information Church or Employer Administrator Name Tax ID#
Address Admin Phone# Fax#
City / State / Zip Email
Are you currently enrolled in a medical plan, or do you intend to enroll following the submission of the Retirement Plan? Yes No For Clergy ONLY: Please indicate ministerial status Ordained Commissioned Licensed
Ordination Status Granted By CBF church Other church
For Clergy: Is your employer eligible to designate a portion of your compensation as housing allowance or rental value of parsonage, plus utilities, which would not be reported as taxable income? Yes No 3- Compensation Information - REQUIRED TO ENSURE COMPLIANCE WITH IRS REGULATIONS (Calculate carefully; amount is used
to ensure compliance with IRS regulations regarding contribution limits). Application won’t be processed without this information)
Compensation Amount (round to the nearest dollar) Per Year Year Total A) Annual Cash Salary (include amounts to be withheld for per year Employee Payroll Contribution & Flexible
Spending Account) =
B) Clergy Housing (complete either 1 or 2)
1) Housing Allowance Total or 1)
2) Parsonage rental value
a) Parsonage allowance =
b) Utilities allowance =
Total Parsonage (a + b) 2)
Total Housing (select either 1 or 2 amount)
=
C) Social Security/Medicare Tax Offset Amount Should it be included in the premium calculation? Yes No
=
D) Total Annual Compensation Amount: (total A + B + C) Does not include life & disability premiums or retirement contribution, medical premiums, or ministry—related exp. such as car exp., continuing education, convention expenses, books, periodicals, etc
=
4- 403(b) Beneficiary Information
STATEMENT OF MARITAL STATUS
Married Participant Naming Spouse as Sole Beneficiary
By checking this box, I hereby certify to the Church Benefits Board that I am married and intend to name my spouse as the beneficiary of any benefits payable upon my death. (Complete Beneficiary information below)
Married Participant Naming Primary Beneficiary (ies) other than Spouse
By checking this box, I hereby certify to the Church Benefits Board that I am married and intend to name my primary beneficiary as someone other than my spouse. (Complete Alternate Beneficiary Designation Form)
Unmarried Participant By checking this box, I hereby certify to the Church Benefits Board that I am unmarried. (Complete beneficiary information below)
403(b) PRIMARY BENEFICIARY (IES) Name Address SS# Relationship % of Proceeds
Name Address SS# Relationship % of Proceeds
Name Address SS# Relationship % of Proceeds
* Note: If you are married, Federal Law requires that your spouse be your primary beneficiary unless spousal consent is provided. If you choose someone other than, or in addition to your spouse as primary beneficiary, a signed, notarized Spousal Consent Form must be presented to waive the survivor benefit provided by the Plan. Contact your Plan Administrator should you require a Spousal Consent Form.
403(b) SECONDARY BENEFICIARY(IES If none of my primary beneficiary(ies) survive me, I designate the following as secondary beneficiary(ies).
Name Address SS# Relationship % of Proceeds
Name Address SS# Relationship % of Proceeds
Name Address SS# Relationship % of Proceeds
If no beneficiary survives me or if no beneficiary is named, my account balance will be payable in accordance with the provisions of the Plan. I authorize the Plan Administrator to execute my directions as set forth above. I understand these directions will be in effect until a subsequent election is submitted, or as required by law or the Plan. Furthermore, I understand that all benefits and rights to which I am entitled under the Plan will be determined only in accordance with the Plan and Trust Agreement, all amendments thereto, and regulations thereunder. I agree, if more than one beneficiary is designated, payments will be made in equal shares to those persons designated as beneficiaries who survive me, unless indicated otherwise.
403(b) Employee Payroll Election Contributions (Please complete the Salary Reduction Agreement Form) The maximum deferral limits are calendar year limits that include all plans you have participated in during the year is $17,000. • Participants who will be age 50 or older this year, may elect to make catch-up contributions. You may defer an additional $5,500 catch-up
contribution. Participants must first reach the maximum deferral limits under the regulations or other limits defined by the plan before any catch-up contributions may be made.
By checking this box, I am confirming that I will be age 50 or older this year and would like to make catch-up contributions. Furthermore, I confirm that the 403(b) Employer Payroll deferral election made above includes any amounts that I am permitted to designate as catch up contributions.
5- Insurance Information (complete only if you are enrolling in the CBB Life, AD&D and Disability Insurance) Let us know how the Insurance Premium payment will be processed: Employer/Church - Employer/Church paid Employee Voluntary - Employer paid via Employee Salary Reduction Agreement – Check here if paid with after-tax dollars Life & Life Dep (after tax) LTD Gross-Up Earnings (pre-tax) - Please contact the CBB office to review this option at (800) 352-8741. For Clergy ONLY: Do you participate in Social Security? Yes No, Form 4361 filed with IRS 6- Insurance Primary Beneficiary (ies)
This designation applies to Life/Life with AD&D Insurance available through the Church Benefits Board, if any. Designations are not valid unless signed, dated, and delivered to the Church Benefits Board during your lifetime. See page 2 for further information.
Full Name Address Soc. Sec. No. Relationship % of Benefit
Full Name Address Soc. Sec. No. Relationship % of Benefit
Full Name Address Soc. Sec. No. Relationship % of Benefit
Insurance Contingent Beneficiary (ies) Full Name Address Soc. Sec. No. Relationship % of Benefit
Full Name Address Soc. Sec. No. Relationship % of Benefit
Full Name Address Soc. Sec. No. Relationship % of Benefit
Insurance Beneficiary Information • Your designation revokes all prior designations. • Benefits are only payable to a contingent Beneficiary if you are not survived by one or more primary Beneficiary (ies). • If you name two or more Beneficiaries in a class:
1. Two or more surviving Beneficiaries will share equally, unless you provide for unequal shares. 2. If you provide for unequal shares in a class, and two or more Beneficiaries in that class survive, we will pay each surviving Beneficiary his
or her designated share. Unless you provide otherwise, we will then pay the share(s) otherwise due to any deceased Beneficiary (ies) to the surviving Beneficiaries pro rata based on the relationship that the designated percentage or fractional share of each surviving Beneficiary bears to the total shares of all surviving Beneficiaries.
3. If only one Beneficiary in a class survives, we will pay the total death benefits to that Beneficiary.
• If a minor (a person not of legal age), or your estate, is the Beneficiary, it may be necessary to have a guardian or a legal representative appointed by the court before any death benefit can be paid. If the Beneficiary is a trust or trustee, the written trust must be identified in the Beneficiary designation. For example, “Dorothy Q. Smith, Trustee under the trust agreement dated________________________ .”
• A power of attorney must grant specific authority, by the terms of the document or applicable law, to make or change a Beneficiary designation.
If you have any questions, consult your legal advisor.
• Dependents Insurance, if any, is payable to you, if living, or as provided under your Employer’s coverage under the Group Policy.
• Effective on the 1st of the following month that the employee is approved and for which premiums are paid. The eligible employee shall be enrolled in the CBF-CBB Group Life, AD&D, Long Term Disability and all other insurance and benefit programs available to its eligible employees and their eligible dependents. The effective date of this insurance coverage is intended to be first of the month as outlined above or such other date as the Insurance Companies approve, whichever is later. If approved, no insurance for which evidence of insurability or good health is required will become effective until approved by the Insurance Company at its Home Office.
• The Employer/Applicant authorizes the Church Benefits Board to act as its agent for the purposes set forth in any and all Insurance agreements for the individual named above. This includes functions relevant to the procurement of group insurance policies, including but not limited to: (1) execution of applications for any master group insurance policy (ies); (2) holding any master group insurance policy (ies); and (3) delegation of agency to insurers.
• The Employer/Applicant acknowledges that the master group insurance policy or summary of benefits held by CBB under which insurance is provided may contain numerous optional provisions which are available in order to provide each participating employer with the ability to select provisions which meet its own needs. It is understood and agreed that only those provisions which appear in a Summary of Benefits or certificate provided to the each participating employer apply to such participating employer’s insurance coverage, including the Employer/Applicant.
Participation Authorization I authorize the Church Benefits Board to execute my directions as set forth above. • I understand these directions will be in effect until a subsequent election is submitted, or as required by law or the Plan. • I understand that all benefits and rights to which I am entitled under the Plan will be determined only in accordance with the Plan and Trust
Agreement, all amendments thereto, and regulations thereunder. I agree, if more than one beneficiary is designated, payments will be made in equal shares to those persons designated as beneficiaries who survive me, unless indicated otherwise
• I understand that my ability to take distributions from my account may be limited. • I understand my contributions and account balance are automatically invested in the default fund directive, unless I elect to make investment
choices. • I understand that my eligibility for premium-paying membership depends upon my continuing to serve a church or organization appropriately related
to the Cooperative Baptist Fellowship, Inc., continuing to serve in ministry as a member ordained by the CBF, and/or continuing to serve in ministry as a member whose ordination is in good standing with CBF.
• I agree to adhere to the provisions and any amendments of said plans for which I apply. • I wish to make the choices indicated on this form. If electing coverage, I authorize deductions from my wages to cover my
contribution, if required, toward the cost of insurance. I understand that my deduction amount will change if my coverage or costs change.
Signature of Applicant Date
Signature of Employer Date
Please keep a copy of this form for your records and return the original to: Church Benefits Board Phone: (800) 352-8741 2930 Flowers Road, Suite 133A Fax: (770) 220-1661 Atlanta, GA 30341 Web: www.churchbenefits.org
PARTICIPANT INFORMATION Name Social Security Number
SPOUSAL CONSENT (IF SPOUSE IS NOT DESIGNATED AS THE SOLE BENEFICIARY)
I, the undersigned, being the spouse of the above-named Plan participant, consent to the Non-Spouse Primary Beneficiary designated and to any distribution made pursuant thereto in accordance with the terms of the Plan. I understand that any Plan benefits payable upon the death of the above-named Participant shall be payable to the primary beneficiary(ies) named in the Plan Beneficiary Designation Form in the percentages designated on such form and not to myself, and I hereby consent to the designation and payment to such non-spouse.
Spouse Name
Spouse’s Signature Date
Notarized by:
_______________ Name of Employer or church Administrator SIGNATURE DATE
Please keep a copy of this form for your records and return the original to: Church Benefits Board 2930 Flowers Road, Suite 133A Phone: (800) 352-8741 Atlanta, GA 30341 Fax: (770) 220-1661 Web: www.churchbenefits.org
Primary Beneficiary Designation Form CBF 403(b) Plan
Spousal Consent Form
Employee Information Check one: Initial Agreement Change to Prior Agreement
Last Name First Name M.I.
Social Security No. Name of Employer
Salary Reduction Agreement The employee authorizes the employer to make salary reduction contributions on the employee’s behalf to Employee Deferral 403(b)
Plan. All such salary reduction contributions shall be forwarded by the employer to The Church Benefits Board (CBB) to be allocated to the employee’s Employee Deferral account administered by The Church Benefits Board (CBB). For purposes of making such contributions, the employee agrees that his/her compensation will be reduced as indicated below.
Contribution
1. Deduct From Paycheck: (Select one) 3. Salary Reductions continue: (Select one)
$ ______________________ per month OR Until I request an end date ___________% of base salary amount Through the last paycheck of the calendar year Indicate base salary: $ ______________________ % will change as base salary changes
For one paycheck only Until (month/day/year) ______ /______ /______
2. Salary Reductions start with the payroll period beginning: ________ /________ /________
Terms and Conditions This agreement is legally binding on the undersigned employee and employer, and is irrevocable with respect to compensation earned by such employee while this agreement is in effect. This agreement shall continue until it is terminated or amended. This agreement may be amended, with regard to compensation not yet earned, by the execution of a Salary Reduction Agreement by the employer and the employee no less than 14 days before the start of a payroll period. This agreement supersedes all prior Salary Reduction Agreements and contributions pursuant to this agreement shall immediately cease upon the employee’s termination of employment with the employer.
If the employee is re-hired, a new Salary Reduction Agreement will be necessary. This agreement may be terminated at any time by the employee for compensation not yet earned, upon written notice delivered by the employee to the employer. A termination request is permanent and remains in effect until a new Salary Reduction Agreement is submitted. The employee and employer understand that the contributions originate and the tax deferral applies to amounts derived through a reduction of the employee’s salary, and the employer forwarding such contributions to CBB. In no event shall these contributions exceed the limits provided by Section 402(g) and/or 415 of the Internal Revenue Code or other applicable limits, which limits are also set forth in the Plan. The employee agrees to promptly notify the employer in the event that these limits are affected by any other plan(s) maintained outside of this employer [for example, a Section 401(k) plan or pension plan] or if he/she has knowledge that they reached any of the foregoing limits. The employer and CBB reserve the right to automatically reduce the amount of the employee’s
contribution if it is determined that these deductions will exceed any applicable legal limits. This agreement is not a contract of employment between the employee and the employer, and does not restrict the right of the employer to discharge the employee or the right of the employee to terminate his/her own employment.
Signature of employee Date
Signature of employer representative Date
Please return this completed form to: Church Benefits Board Phone: (800) 352-8741 2930 Flowers Road, Suite 133A Fax: (770) 220-1661
Atlanta, GA 30341 Web: www.churchbenefits.org
SALARY REDUCTION AGREEMENT
CBF 403(b) Plan
APPLICATION FOR ROLLOVER FORM
Cooperative Baptist Fellowship 403(b) Plan #806561
PARTICIPANT INFORMATION Title Last Name First Name Middle Initial
Email /phone# Social Security # Date of Birth
ROLLOVER CONTRIBUTION INFORMATION See your Summary Plan Description or Plan Administrator for your plan’s rollover provisions. I request the Plan Administrator to accept my rollover, based on the following information. The Plan Administrator reserves the right to require additional evidence that my distribution is from a qualified retirement plan, a tax sheltered annuity, a governmental 457 plan, or an IRA, as allowed by the Plan. Name of distributing plan or IRA custodian: ___________________________________________________________________
Amount $ ______________ All Eligible Accounts or All Total Balance The requested rollover represents:
a. An eligible rollover distribution from: a qualified retirement plan a tax-sheltered annuity a governmental 457 plan b. a distribution from a traditional IRA that would otherwise be includable in my gross income. a. a distribution from a Conduit IRA which consisted solely of an eligible rollover distribution from a qualified plan and any associated earnings, for which I wish to preserve capital gains and averaging treatment. The distribution:
Will be paid directly from the distributing plan to The Standard on behalf of this Plan. Is from another qualified plan; it includes after-tax contributions of $______________,which must be accounted for separately. Was paid to me on_____________________________. (The Standard must receive distribution within 60days.)
PARTICIPANT SIGNATURE I verify that the information provided above is true and complete. I understand that the Plan Administrator may choose not to accept this rollover if it would jeopardize the Plan’s tax status. I also understand that if this rollover is accepted, it will be directed to investments based on my contribution directives in place at the time the rollover is received by The Standard. If I do not have directives in place, the rollover will be deposited into the Plan’s Default Fund.
PAYEE AND MAILING INSTRUCTIONS The distribution check should be
payable Church Benefits Board FBO: (Participant’s Name)
and mailed to: Church Benefits Board 2930 Flowers Road, Suite 133A Atlanta, GA 30341 Attention: Plan No.:806561 Plan Name: Cooperative Baptist Fellowship 403(b) Plan
PLAN ADMINISTRATOR ACCEPTANCE As an authorized representative of the Cooperative Baptist Fellowship 403(b) Plan, I certify the Plan Administrator has investigated the rollover requested above and is satisfied that it will not jeopardize this Plan’s qualified status under the Internal Revenue Code. Therefore, the rollover is accepted, and The Standard is authorized to invest these funds as directed and to establish the appropriate additional accounts for the participant.
Please keep a copy of this form for your records and return the original to: Church Benefits Board Phone: (800) 352-8741 2930 Flowers Road, Suite 133A Fax: (770) 220-1661
Atlanta, GA 30341 Web: www.churchbenefits.org
Signature of Applicant Date
Name and Title (please print)
Signature Date
YOUR INFORMATION Social Security Number Last Name First Name
Mailing Address City/State/Zip
Date of Birth (mm/dd/yy) Date of Hire (mm/dd/yy) Phone# Email address
WHERE DO YOU WANT TO INVEST YOUR SAVINGS The Church Benefits Board can help you manage your investments when you select a Guided Portfolio or you may also create your own Independent Portfolio. If you do not indicate where to invest your savings, your assets will be placed in the plan’s default fund(s). The decisions you make regarding your investments will stay in effect until you modify them via The Standard’s Web site at (http://retirement.standard.com) or via INFOLINE (800.858.5420). Select only one box of the Guided Portfolios below, OR select your own investments by entering whole percentages in the “Independent” column. Be sure that your selections total 100% and that the minimum any investment is 1%. This investing Form is to be used ONLY by eligible plan participants. To make changes to your current investment directive, visit (http://retirement.standard.com) or via INFOLINE (800.858.5420).
Choose ONE Guided Portfolio OR create your Independent Portfolio
Fund Name Style Conservative Moderately
Conservative Moderate Moderately
Aggressive Aggressive Independent
Cash Equivalent 30% 20% 10% 0% 0% The Standard Stable Asset A Stable Value 30% 20% 10% 0% 0% __ %
Bonds 50% 40% 30% 20% 0% Metropolitan West TotRe Bd I Intermed-term Bond 50% 40% 30% 20% 0% ___ % Vanguard Inflat Prot Sec Adm Intermed-term Bond 0% 0% 0% 0% 0% ___ % Equities Large Cap Stock 13% 26% 39% 52% 65% Vanguard 500 Index Signal Larger 7% 13% 19% 26% 33% ___ % JPMorgan Large Cap Grwth R6 Larger Growth 3% 7% 10% 13% 16% ___ % Vanguard Windsor II Admiral Larger Value 3% 6% 10% 13% 16% ___ % Neuberger Berman Soc Res Inv Larger Blend 0% 0% 0% 0% 0% ___ % Mid/Small Cap Stock 4% 8% 12% 16% 20% Neuberger Berman Md Cp Gr Inv Mid-Cap Growth 1% 2% 3% 4% 5% ___ % Columbia Mid Cap Val Opp R4 Mid-Cap Value 1% 2% 3% 4% 5% ___ % Columbia Small Cap Value II Z Small Value 2% 4% 6% 8% 10% ___ % Alger Small Cap Growth Institutional Small Growth 0% 0% 0% 0% 0% ___ % International Stock 3% 6% 9% 12% 15% Thornburg International Value R5 Foreign Stock 3% 6% 9% 12% 15% ___ % Other DFA Emerging Mrkts Core Eq I Diversified EmergMrkts 0% 0% 0% 0% 0% % Vanguard Wellington Inv Mod Allocation 0% 0% 0% 0% 0% ___ % Vanguard Balanced Indx Signl Mod Allocation 0% 0% 0% 0% 0% ___ %
Total 100% 100% 100% 100% 100% 100%
AUTOMATIC REBALANCER Check a box below to select the Automatic Rebalancer service for your Plan account. If you select this service, your account assets will be rebalanced to match your investment directives at the time of rebalancing. Automatic Rebalancer will remain off if you do not make a selection below. How often would you like your account rebalanced? Quarterly Semiannually Annually
AUTHORIZATION I authorize my employer and the plan administrator to invest my savings as outlined on this form. I also direct my employer and the plan administrator to implement any other instructions I have provided on this form. I have read the Disclosure Statement on this form and, by signing here, I agree to be bound by its terms. The employer, trustees and any others concerned with the administration of the Plan are entitled to rely on these instructions; each shall be fully protected in taking or omitting any action under any provisions of the Plan in reliance on this information.
Participant Signature Date
Disclosure Statement: You must notify The Standard within 15 days of receipt of your quarterly account statement if an error occurred, or if you requested and confirmed an investment transfer or directive change that was not completed during the period covered by the statement. You may give notice by contacting a customer service representative at 800.858.5420 or by e-mailing [email protected]. Unless you give such notice, The Standard will not be liable for any resulting loss to your account. In any case, The Standard will not be liable if circumstances beyond its control prevent the transaction, or if its liability is otherwise limited by regulation or agreement. Please keep a copy of this form for your records and return the original to: Church Benefits Board, 2930 Flowers Road, Suite 133A, Atlanta, GA 30341 Phone: (800) 352-8741 Fax: (770) 220-1661
Investing Form CBF 403(b) Plan
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Plan Fiduciary Advisor Disclosure StanCorp Advisers, Inc. and the Standard Stable Asset Fund
This document contains important information about StanCorp Investment Advisers, Inc. (SIA) and how they are compensated for the investment advice provided in connection with your Plan. You should carefully consider this information in your evaluation of that advice and the investment alternatives offered in the plan. SIA will provide investment advisory services to be used by the plan for which this notice is provided. SIA will be providing these services as a fiduciary under the Employee Retirement Income Security Act. SIA, therefore, must act prudently and with only the plan’s and the plan’s participants’ interest in mind when providing recommendations on the investments to be offered. Compensation of the Fiduciary Advisor and Related Parties SIA is compensated for the advice it provides as part of a bundled service arrangement with Standard Retirement Services, Inc., an affiliate of SIA that provides recordkeeping and administrative services to the plan. SIA receives a flat fee from Standard Retirement Services to provide investment advisory services that may benefit Standard Retirement Services, Inc., retirement plan clients. SIA is not compensated on the basis of investment(s) offered by the plan, or those selected by participants. Two affiliates of SIA may provide services to the plan for which they will be compensated. These affiliates and services are: (1) Standard Retirement Services, Inc., for recordkeeping, administrative and compliance services; and (2) Standard Insurance Company, if the plan includes the Standard Stable Asset Fund as an investment option, for financial services provided as the issuer of the Standard Stable Asset Fund. Standard Insurance Company is compensated in connection with this product when general account investment returns exceed the interest credited on contract balances. Included in the return is a 0.18 percent expense associated with the investment expenses of the product. Additionally, employees of StanCorp Equities, a broker-dealer affiliate of SIA, receive additional compensation when the Standard Stable Asset Fund is included in the plan as a result of recommendations of SIA. Such employees, who are registered representatives of SIA, do not individually provide investment advice regarding the Standard Stable Asset Fund. This information should be reviewed carefully before an investment decision is made. Consider Impact of Compensation on Advice The compensation that Standard Insurance Company and representatives of StanCorp Equities, Inc., receive on account of assets invested in the Standard Stable Asset Fund may be a significant source of revenue for them. The impact of any such fees and compensation should be carefully considered in any evaluation of the Standard Stable Asset Fund as an investment option. Investment Returns While understanding investment-related fees and expenses is important in making informed investment decisions, it is also important to consider additional information about investment options, such as performance, investment strategies and risks. Specific information related to the past performance and historical rates of return of the investment options available under the plan has been provided in the proposal materials, in the participant enrollment booklet, and is available on-line in the Personal Savings Center at http://retirement.standard.com. For options with returns that vary over time, past performance does not guarantee how an investment in the option will perform in the future; an investment in these options could lose money.
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Use of Personal Information Our Privacy Notice is attached to this disclosure. It describes the personal information that we will collect, describes how it will be used and how we will protect it. A link to the privacy notice is posted on each page of our website. Should you have any questions about StanCorp Investment Advisers or the information contained in this disclosure, you may contact the Vice President and Managing Director of StanCorp Investment Advisers, Inc., at 1100 SW Sixth Avenue, Portland, Oregon, 97204, or call #800.262.7111.
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Privacy Notice
The notice applies to:
StanCorp Financial Group, Inc.
Standard Insurance Company
Standard Retirement Services, Inc.
The Standard Life Insurance
Company of New York
StanCorp Mortgage Investors, LLC
StanCorp Real Estate, LLC
StanCorp Investment Advisers, Inc.
Standard Management, Inc.
StanCorp Equities, Inc.
Please direct inquiries to:
Privacy Notice (P7E)
PO Box 711
Portland, OR 97207-0711
To get more information
about StanCorp Financial
Group, Inc. and its subsidiaries and/or view
this notice online,
visit www.stancorpfinancial.com.
The privacy of your personal information is important to us. To help you understand how we protect the information we receive about you, this notice describes our current privacy policy and practices.
We want you to know that:
have about you to anyone;
outside companies for the purpose of selling their products or services to you; and
we only share information about you with others as permitted or required by law.
Information We May Collect and From WhomWe collect your personal information to offer you insurance and financial products and services. The type of information we collect and the extent to which it is used depends on the products and services we provide to you. For example, we may obtain information such as:
telephone number, Social Security number, employment, occupation, assets and income from applications and other forms from you, your employer and others;
and payment history from your dealings with us;
other insurance companies, the Medical Information Bureau (“MIB”) or consumer reporting agencies, if you apply for life or disability insurance;
from medical providers or facilities, with your authorization, if you apply for life or disability insurance; and
our Web sites from online information collection devices.
We may request an insurance support organization to collect information that we need about you. If we do, they will submit a report to us. They may keep a copy of the
report and share its contents with others. They will do this only with appropriate authorization from you.
Information We May DiscloseWe may share the types of information described above with others. These disclosures are only made as authorized by you or as permitted or required by law. These may include disclosures:
or functions on our behalf or to serve you;
to reinsurers, to other insurance companies, and to the MIB for purposes related to insurance you may have or apply for;
marketing agreement with us, unless state law restricts such use;
with the regulation of our business;
prevent fraud or illegal activities;
the law;
subpoena, warrant or other court order; and
insurance or financial products and services to you.
When information about you is disclosed to others, we expect them to protect your information. We expect them to use the information only for the limited purpose for which it was shared. We do not share medical information except with your authorization or as permitted or required by law.
Your RightsWe want to make sure that we have accurate information about you. In general, you have the right to review your personal information that we have. If you believe that any of the information about you is not accurate, you may inform us in writing of any changes you believe should be made. We will review your request and respond to it accordingly.
Confidentiality and SecurityWe restrict access to information about you to those employees who need to know that information to provide products or services to you. We safeguard your information through written privacy policies and physical, electronic and procedural protections.
Further Information We will advise you of our privacy policy at least once a year. We may change our privacy policy at any time. As long as you remain a customer, we will inform you of any changes. If your relationship with us ends, we will continue to limit disclosures of your information in accordance with our stated privacy policy.
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21
APPLICATION FOR ROLLOVER FORM
Cooperative Baptist Fellowship 403(b) Plan #806561
PARTICIPANT INFORMATION Title Last Name First Name Middle Initial
Email /phone# Social Security # Date of Birth
ROLLOVER CONTRIBUTION INFORMATION See your Summary Plan Description or Plan Administrator for your plan’s rollover provisions. I request the Plan Administrator to accept my rollover, based on the following information. The Plan Administrator reserves the right to require additional evidence that my distribution is from a qualified retirement plan, a tax sheltered annuity, a governmental 457 plan, or an IRA, as allowed by the Plan. Name of distributing plan or IRA custodian: ___________________________________________________________________
Amount $ ______________ All Eligible Accounts or All Total Balance The requested rollover represents:
a. An eligible rollover distribution from: a qualified retirement plan a tax-sheltered annuity a governmental 457 plan b. a distribution from a traditional IRA that would otherwise be includable in my gross income. a. a distribution from a Conduit IRA which consisted solely of an eligible rollover distribution from a qualified plan and any associated earnings, for which I wish to preserve capital gains and averaging treatment. The distribution:
Will be paid directly from the distributing plan to The Standard on behalf of this Plan. Is from another qualified plan; it includes after-tax contributions of $______________,which must be accounted for separately. Was paid to me on_____________________________. (The Standard must receive distribution within 60days.)
PARTICIPANT SIGNATURE I verify that the information provided above is true and complete. I understand that the Plan Administrator may choose not to accept this rollover if it would jeopardize the Plan’s tax status. I also understand that if this rollover is accepted, it will be directed to investments based on my contribution directives in place at the time the rollover is received by The Standard. If I do not have directives in place, the rollover will be deposited into the Plan’s Default Fund.
PAYEE AND MAILING INSTRUCTIONS The distribution check should be
payable Church Benefits Board FBO: (Participant’s Name)
and mailed to: Church Benefits Board 2930 Flowers Road, Suite 133A Atlanta, GA 30341 Attention: Plan No.:806561 Plan Name: Cooperative Baptist Fellowship 403(b) Plan
PLAN ADMINISTRATOR ACCEPTANCE As an authorized representative of the Cooperative Baptist Fellowship 403(b) Plan, I certify the Plan Administrator has investigated the rollover requested above and is satisfied that it will not jeopardize this Plan’s qualified status under the Internal Revenue Code. Therefore, the rollover is accepted, and The Standard is authorized to invest these funds as directed and to establish the appropriate additional accounts for the participant.
Please keep a copy of this form for your records and return the original to: Church Benefits Board Phone: (800) 352-8741 2930 Flowers Road, Suite 133A Fax: (770) 220-1661
Atlanta, GA 30341 Web: www.churchbenefits.org
Signature of Applicant Date
Name and Title (please print)
Signature Date
806561 - 4
As of September 29, 2010
Plan Overview Cooperative Baptist Fellowship 403(b) Plan
This Overview is provided as a quick reference to certain key provisions of the retirement plan. Since the plan is based on a complex legal document, the Overview does not attempt to describe every aspect of the plan or to detail all of its terms. For a more complete description of plan provisions, refer to the Summary Plan Description. If there is a conflict between this Overview and the plan, the plan's provisions will prevail.
Entering the Plan
All employees are eligible to participate in the plan on the first entry date.
Entry date is immediate after service requirements, if any, are met.
Participant Contributions
Participants may contribute to the plan on a pre-tax or after-tax basis. These contributions, known as “elective deferrals,”
must fall within the following range:
Maximum $17,000 in 2012 (additional $5,500 if age 50 or older) or maximum allowed by law, whichever is less
Other factors may further limit contributions.
Traditional 403(b) contributions are made on a pre-tax basis, thus reducing your current taxable income. Your contributions
and earnings grow on a tax-deferred basis and will be taxable upon distribution.
You may change your contribution percentage or re-enter the plan on the first day of any future payroll period. Contact your
payroll department for details. If necessary, you may stop your contributions on the first day of any payroll period with
reasonable advance notice.
You may also contribute a portion of your after-tax income to the plan. These “voluntary contributions” will not reduce your
taxable income. Minimum and maximum allowable voluntary contributions are specified in the Summary Plan Description.
Voluntary contribution limits may be reduced by other factors, including legal limits and other contributions you or your
employer make to the retirement plan.
Your participant contributions are 100 percent vested - which means that you own them - at all times.
Employer Contributions
The plan also provides for your Church or Employer to make contributions. These employer contributions are 100 percent
vested at all times.
Housing Allowance
The minister’s housing allowance is an important tax benefit available to ministers under Section 107 of the Internal Revenue
Code. With this plan you may be entitled to receive the minister's housing allowance benefit in retirement.
Loans
You may qualify to borrow a portion of your vested account balance under the terms of the plan's Loan Policy. The Loan
Policy spells out specific details and restrictions, including the amounts that you may borrow from the plan, repayment terms,
loan fees and interest rates.
The Loan Policy is available on the Personal Savings Center Web site at www.standard.com/retirement.
We recommend that you consider other sources for your loan needs before borrowing from your retirement account.
31
806561 - 4
As of September 29, 2010
Distributions and Withdrawals
A distribution from your account may be available to you or your beneficiary at:
• normal retirement, which is age 65
• age 59.5 while still employed
• financial hardship (as defined by the plan)
• termination of employment
• death or disability
Additional requirements for distributions may also exist. Please review your Summary Plan Description for complete details.
Hardship Withdrawal
A hardship withdrawal may be made in cases of financial need defined in the plan, provided there are no other sources
available to meet the need; the withdrawal is taxable as a distribution and subject to a 10 percent early withdrawal tax penalty.
Rolling over retirement accounts
Combining assets from several retirement accounts is much easier now than in the past. Plans may now accept rollovers from:
• 401(k) and other qualified retirement plans
• governmental deferred compensation (457) plans
• tax-sheltered annuities (TSAs) and IRAs
Follow the instructions on the “Application for Rollover” form available on Personal Savings Center at
www.standard.com/retirement. Rollover money received by the plan will be invested according to your investment directives
for new contributions.
If you have received a distribution check from a retirement plan, you must complete a rollover within 60 days of receipt. If the
rollover is not completed within this period, the distribution cannot be rolled over and becomes taxable income. It may also be
subject to a 10 percent early withdrawal penalty.
Plan Expenses
Redemption Fees - Please be aware that redemption fees may apply to transactions made in your account. It is possible to
incur a redemption fee any time you sell a fund share. Transactions that may result in a redemption fee are: distributions,
in-service withdrawals, loans, and fund transfers.
A redemption fee is a charge upon the sale of a mutual fund share within a specified time period. A time period varies by
Fund Company, but is typically assessed on shares sold within 30 to 90 days after purchase. The fee is generally 1% to 2% of
the sale amount. You will see this message any time a transfer is requested through our Internet site, notifying you that these
fees may apply.
Default Fund
If The Standard does not receive an Investment Directive Form from you, any transferring assets and future contributions will
be invested in the Vanguard Balanced Index Signal fund. You can transfer assets out of the Vanguard Balanced Index Signal
fund on the Personal Savings Center Web site at http://retirement.standard.com or via the automated telephone system at
800.858.5420.
Questions
If you have questions about the plan, please contact Church Benefit Board at 1-800-352-8741 or at
To contact a Customer Service Representative at the plan's service partner, The Standard, e-mail [email protected].
32
806561 - 4
As of September 29, 2010
More information about your investment options Descriptions of the plan's investment options are included in the enrollment
booklet. Each description provides basic information about an option, including
investment objectives, fund managers, relative risk and a snapshot of its
holdings.
Additional information is available through the Personal Savings Center, The
Standard's Web site for retirement plan participants.
1. Visit www.standard.com/retirement
2. Select Personal Savings Center.
3. Log in.
4. Select Performance on the Investment menu at the top of the page.
This page provides performance information for all of the investment options.
Click on the name of the investment option for more information about that
option, including a link to the mutual fund company's Web site where you can
review a prospectus.
Frequent Trading Policy
Your retirement plan is intended to help
you accumulate assets for your
retirement. The plan and the services
provided by The Standard have been
designed to help support your long-term
investment needs throughout your
working and retirement years.
The plan is not intended to facilitate
frequent trades among investment
options or provide “day trading”
opportunities. Short-term trading
adversely affects the plan's operations
and increases the expenses of both the
plan and the investment options.
The Standard's agreements with our
mutual fund alliance partners require us
to adhere to trading rules established in
the prospectuses. Besides normal
contribution activity, generally one
purchase and one redemption in an
investment option during a 90-day
period is considered reasonable transfer
activity.
Trading activity will be monitored. If
excessive transfer activity is identified,
we may suspend the participant's ability
to execute transfers through the Personal
Savings Center Web site and INFOLINE
telephone system. Any transfers will
have to be requested using paper forms
and will be executed according to
trading guidelines. This may lead to
delays in the execution of requested
transactions.
33
Standard Retirement Services, Inc.
How To Read A Fund Fact Sheet
Example: ABC Balanced Fund (ABCBF)
Morningstar Category, Rating, Return And RiskA high-level overview that includes the fund’s asset class, as well as several assessments that compare it to similar funds to obtain a “star rating” based on performance (after adjusting for risk and accounting for all sales charges), its excess return over a risk-free rate (the return of the 90-day Treasury bill), and its variations in monthly returns.
Investment StrategyA description of the fund’s aims or objectives as well as investment strategies, such as:
Capital Preservation – Seeks to protect against loss of principal, uses a conservative investment approach focused on low risk
Growth And Income – aims for some income and some growth, uses a moderate approach with higher risk than capital preservation
Aggressive Growth – seeks capital appreciation, employs aggressive high-risk strategies aimed at higher long-term returns than the other approaches
This section can include more details about investment strategies such as focusing on certain sectors of the market, or employing a bottom-up (company-by-company) approach to investing.
Volatility AnalysisAn attempt to quantify the risk associated with investing in the fund based on its short-term volatility relative to its long-term past performance.
Portfolio AnalysisFacts and figures such as:
Composition – a graphic representation of the fund’s holdings into broad asset classes such as stocks, bonds or cash.
Top 5 Holdings – the top five largest holdings in the fund by company/government agency or industry; an indicator of diversification
Total Number Of Holdings – the number of holdings in the fund; an indicator of diversification (lower risk) versus concentration (higher risk)
Annual Turnover Ratio % – the percentage of the investment option’s holdings that have been “turned over” or replaced with other holdings in a given year
Total Fund Assets – the total amount of investor money in the fund
Morningstar Style Box™ – the size and type of companies (in the case of stocks) or the length and quality of bonds, often in a grid or box that indicates its risk/return potential
Morningstar Super Sectors – a breakdown of the fund’s assets according to Morningstar’s overarching consolidation of all industries into one of three “economic spheres”
Fund fact sheets don’t always look alike. Some include graphics, others have more facts and figures, many use different headings for the same subjects. However, most of them contain the same basic information.
A fund name, “ABC Balanced Fund” in the example, often indicates the type of fund.
The ticker symbol, “ABCBF” in the example, is an identifying number that can be used to do more research.
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Enroll now! www.standard.com/retirement, 800.858.5420
Credit Analysis: % Bonds – a depiction of the quality of bonds in the fund’s portfolio. Bonds rated AAA are considered to have the lowest default risk among issuers. Bonds rated below BBB are considered below investment grade and bonds rated B or below are considered speculative
Risk Measures – uses standard deviation to measure the fund’s historical price volatility on an absolute basis. The higher the number, the more volatile the fund
OperationsFund Inception Date – The day on which a fund began offering shares
Portfolio Manager/Management Company – names of the people and firms who are managing the fund and/or providing sub-advisory services
Web Site: Web address of the fund company managing the investment option
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The Standard Stable Asset Fd A Release Date03-31-2012
....................................................................................................................................................................................................................................................................................................................................................Morningstar CategoryStable Value
Overall Morningstar Rating™ Morningstar Return Morningstar Risk. . .
Investment Objective & StrategyThe Standard’s Stable Asset Fund seeks to provide liquidityand safety of principal, along with a competitive, guaranteedrate of return. The Standard invests the deposits of planparticipants as part of its general account assets, whichinclude its fixed income securities portfolio and itscommercial mortgage loan portfolio. A participant’s return isdetermined by a declared interest rate, which is accrueddaily and compounded quarterly.
Portfolio AnalysisComposition as of 12-31-11 % Assets
Synthetic GICs 0.0Traditional GICs 0.0Cash 0.0Other 100.0
What do Stable Value Funds invest in?
Stable value funds tend to invest in high-quality bonds withshort- to intermediate-term maturities. They also purchaseinsurance contracts which aim to provide price stability on aday-to-day basis. The horizontal axis of the Morningstarfixed-income Style Box shows duration, a measure of howthe funds price will change in response to interest-ratechanges. Because stable value funds insurance contractsusually prevent any fluctuations in the funds prices, thesefunds are insulated from interest-rate volatility and theirduration is effectively zero.
Morningstar Style Box™ as of 12-31-11
HighM
edLow
Ltd Mod Ext
OperationsFund Inception Date 04-01-11Total Fund Assets ($mil) 60.91Portfolio Manager Management TeamManagement Company Standard Insurance CompanyWeb Site .
Volatility AnalysisRisk: Below Average
In the past, this investment has shown a relatively smallrange of price fluctuations relative to other investments.Based on this measure, currently more than two-thirds of allinvestments have shown higher levels of risk. Consequently,this investment may appeal to investors looking for aconservative investment strategy.
Vanguard Inflation-Protected Secs Adm VAIPX Release Date03-31-2012
....................................................................................................................................................................................................................................................................................................................................................Morningstar CategoryInflation-Protected Bond
Overall Morningstar Rating™ Morningstar Return Morningstar RiskQQQQ Above Average AverageOut of 157 Inflation-Protected Bond funds. An investment's overall Morningstar Rating, based on its risk-adjustedreturn, is a weighted average of its applicable 3-, 5-, and 10-year Ratings. See disclosure for details.
Investment Objective & StrategyFrom investment's prospectus
The investment seeks to provide inflation protection andincome consistent with investment in inflation-indexedsecurities.
The fund invests at least 80% of assets ininflation-indexed bonds issued by the U.S. government, itsagencies and instrumentalities, and corporations. It mayinvest in bonds of any maturity; however, its dollar-weightedaverage maturity is expected to be in the range of 7 to 20years. At a minimum, all bonds purchased by the fund will berated “investment-grade.”
Volatility AnalysisRisk: Below Average
In the past, this investment has shown a relatively smallrange of price fluctuations relative to other investments.Based on this measure, currently more than two-thirds of allinvestments have shown higher levels of risk. Consequently,this investment may appeal to investors looking for aconservative investment strategy.
Portfolio AnalysisComposition as of 12-31-11 % Assets
U.S. Stocks 0.0Non-U.S. Stocks 0.0Bonds 99.3Cash 0.7Other 0.0
Morningstar Style Box ™ as of 12-31-11
HighM
edLow
Ltd Mod Ext
Avg Eff Duration 8.37Avg Eff Maturity 9.40Avg Wtd Coupon 1.83Avg Wtd Price 133.75
Top 5 Holdings as of 12-31-11 % Assets
US Treasury Note 04-15-16 6.29US Treasury Note 1.125% 01-15-21 5.71US Treasury Bond 3.875% 04-15-29 5.11US Treasury Bond 2.375% 01-15-25 4.77US Treasury Note 2% 01-15-14 4.58
...........................................................................................................Total Number of Stock Holdings 0Total Number of Bond Holdings 31Annual Turnover Ratio % 28Total Fund Assets ($mil) 40,894.10
Credit Analysis: % Bonds as of 12-31-11
AAA 100 BB 0AA 0 B 0A 0 Below B 0BBB 0 NR/NA 0
Risk Measures as of 03-31-12 Port Avg Rel LB Aggr Rel Cat
3 Yr Std Dev 4.94 0.30 1.023 Yr Beta 1.14 . 1.083 Yr Alpha 0.73 . 0.67
Operations
Fund Inception Date 06-10-05Portfolio Manager John Hollyer
Management Company Vanguard Group, Inc.Web Site www.vanguard.com
36
Metropolitan West Total Return Bond I MWTIX Release Date03-31-2012
....................................................................................................................................................................................................................................................................................................................................................Morningstar CategoryIntermediate-Term Bond
Overall Morningstar Rating™ Morningstar Return Morningstar RiskQQQQQ High Above AverageOut of 1013 Intermediate-Term Bond funds. An investment's overall Morningstar Rating, based on itsrisk-adjusted return, is a weighted average of its applicable 3-, 5-, and 10-year Ratings. See disclosure fordetails.
Investment Objective & StrategyFrom investment's prospectus
The investment seeks to maximize long-term total return.The fund pursues its objective by investing, under
normal circumstances, at least 80% of net assets ininvestment grade fixed income securities or unratedsecurities that are determined by the Adviser to be of similarquality. Up to 20% of the fund’s net assets may be investedin securities rated below investment grade. Under normalconditions, the portfolio duration is two to eight years andthe dollar-weighted average maturity ranges from two tofifteen years.
Volatility AnalysisRisk: Below Average
In the past, this investment has shown a relatively smallrange of price fluctuations relative to other investments.Based on this measure, currently more than two-thirds of allinvestments have shown higher levels of risk. Consequently,this investment may appeal to investors looking for aconservative investment strategy.
Portfolio AnalysisComposition as of 12-31-11 % Assets
U.S. Stocks 0.0Non-U.S. Stocks 0.0Bonds 90.3Cash 9.0Other 0.7
Morningstar Style Box ™ as of 12-31-11High
Med
Low
Ltd Mod Ext
Avg Eff Duration 4.07Avg Eff Maturity 7.14Avg Wtd Coupon 4.69Avg Wtd Price 96.59
Top 5 Holdings as of 12-31-11 % Assets
US Treasury Note 2.125% 08-15-21 4.81Fannie Mae 2.94US Treasury Bond 4.375% 05-15-41 2.78FHLMC 4% 10-01-41 1.28FHLMC 3.5% 12-01-25 1.04
...........................................................................................................Total Number of Stock Holdings 0Total Number of Bond Holdings 1011Annual Turnover Ratio % 228Total Fund Assets ($mil) 19,456.33
Credit Analysis: % Bonds as of 12-31-11
AAA 57 BB 5AA 7 B 3A 9 Below B 11BBB 8 NR/NA 0
Risk Measures as of 03-31-12 Port Avg Rel LB Aggr Rel Cat
3 Yr Std Dev 3.46 1.28 0.943 Yr Beta 0.87 . 0.993 Yr Alpha 5.86 . 1.68
Operations
Fund Inception Date 03-31-00Portfolio Manager Tad Rivelle
Management Company Metropolitan West AssetManagement, LLC.
Web Site www.mwamllc.com
Vanguard Balanced Index Signal VBASX Release Date03-31-2012
....................................................................................................................................................................................................................................................................................................................................................Morningstar CategoryModerate Allocation
Overall Morningstar Rating™ Morningstar Return Morningstar RiskQQQQ Above Average Below AverageOut of 839 Moderate Allocation funds. An investment's overall Morningstar Rating, based on its risk-adjustedreturn, is a weighted average of its applicable 3-, 5-, and 10-year Ratings. See disclosure for details.
Investment Objective & StrategyFrom investment's prospectus
The investment seeks to track the performance of a broad,market-weighted bond index and a benchmark index thatmeasures the investment return of the overall U.S. stockmarket.
The fund employs a "passive management"-orindexing-investment approach designed to track theperformance of two benchmark indexes. With approximately60% of assets, it seeks to track the investment performanceof the MSCI US Broad Market Index, which represents 99.5%or more of the total market capitalization of all U.S. commonstocks. The fund also seeks to track the investmentperformance of the Barclays Capital U.S. Aggregate FloatAdjusted Index with 40% of assets.
Volatility AnalysisRisk: Below Average
In the past, this investment has shown a relatively smallrange of price fluctuations relative to other investments.Based on this measure, currently more than two-thirds of allinvestments have shown higher levels of risk. Consequently,this investment may appeal to investors looking for aconservative investment strategy.
Portfolio AnalysisComposition as of 12-31-11 % Assets
U.S. Stocks 58.5Non-U.S. Stocks 0.3Bonds 38.0Cash 2.9Other 0.3
Morningstar Style Box™ as of 12-31-11 (EQ) ; 12-31-11 (F-I)
LargeM
idSm
all
Value Blend Growth
HighM
edLow
Ltd Mod Ext
Top 5 Holdings as of 12-31-11 % Assets
CMT Market Liquidity Rate 2.47Exxon Mobil Corporation 1.74Apple, Inc. 1.58International Business Machines Corp 0.93Chevron Corp 0.90
...........................................................................................................Total Number of Stock Holdings 3135Total Number of Bond Holdings 5063Annual Turnover Ratio % 67Total Fund Assets ($mil) 16,126.93
Morningstar Super Sectors as of 12-31-11 % Fund
Cyclical 29.20
Sensitive 44.82
Defensive 25.98
Risk Measures as of 03-31-12 Port Avg Rel S&P 500 Rel Cat
3 Yr Std Dev 9.92 0.61 0.863 Yr Beta 0.91 . 0.873 Yr Alpha 2.28 . -4.56
Operations
Fund Inception Date 09-01-06Portfolio Manager Michael Perre
Management Company Vanguard Group, Inc.Web Site www.vanguard.com
37
Vanguard Wellington Inv VWELX Release Date03-31-2012
....................................................................................................................................................................................................................................................................................................................................................Morningstar CategoryModerate Allocation
Overall Morningstar Rating™ Morningstar Return Morningstar RiskQQQQQ High AverageOut of 839 Moderate Allocation funds. An investment's overall Morningstar Rating, based on its risk-adjustedreturn, is a weighted average of its applicable 3-, 5-, and 10-year Ratings. See disclosure for details.
Investment Objective & StrategyFrom investment's prospectus
The investment seeks to provide long-term capitalappreciation and reasonable current income.
The fund invests 60% to 70% of its assets individend-paying and, to a lesser extent, non-dividend-payingcommon stocks of established, medium-size and largecompanies. These stocks are commonly referred to as valuestocks. It invests 30% to 40% of the assets in fixed incomesecurities that the advisor believes will generate areasonable level of current income. These securities includeinvestment-grade corporate bonds, with some exposure toU.S. Treasury and government agency bonds, andmortgage-backed securities.
Volatility AnalysisRisk: Below Average
In the past, this investment has shown a relatively smallrange of price fluctuations relative to other investments.Based on this measure, currently more than two-thirds of allinvestments have shown higher levels of risk. Consequently,this investment may appeal to investors looking for aconservative investment strategy.
Portfolio AnalysisComposition as of 12-31-11 % Assets
U.S. Stocks 56.3Non-U.S. Stocks 8.6Bonds 30.9Cash 0.8Other 3.4
Morningstar Style Box™ as of 12-31-11 (EQ) ; 12-31-11 (F-I)Large
Mid
Small
Value Blend Growth
HighM
edLow
Ltd Mod Ext
Top 5 Holdings as of 12-31-11 % Assets
Exxon Mobil Corporation 2.69AT&T Inc 2.32Chevron Corp 1.91Wells Fargo & Co 1.81Pfizer Inc 1.80
...........................................................................................................Total Number of Stock Holdings 97Total Number of Bond Holdings 768Annual Turnover Ratio % 38Total Fund Assets ($mil) 61,090.20
Morningstar Super Sectors as of 12-31-11 % Fund
Cyclical 26.41
Sensitive 44.10
Defensive 29.49
Risk Measures as of 03-31-12 Port Avg Rel S&P 500 Rel Cat
3 Yr Std Dev 10.75 0.66 0.933 Yr Beta 0.98 . 0.933 Yr Alpha 1.31 . -2.62
Operations
Fund Inception Date 07-01-29Portfolio Manager Edward P. Bousa
Management Company Wellington ManagementCompany, LLP
Web Site www.vanguard.com
Vanguard Windsor II Adm VWNAX Release Date03-31-2012
....................................................................................................................................................................................................................................................................................................................................................Morningstar CategoryLarge Value
Overall Morningstar Rating™ Morningstar Return Morningstar RiskQQQQ Above Average AverageOut of 1098 Large Value funds. An investment's overall Morningstar Rating, based on its risk-adjusted return, isa weighted average of its applicable 3-, 5-, and 10-year Ratings. See disclosure for details.
Investment Objective & StrategyFrom investment's prospectus
The investment seeks long-term capital appreciation andincome.
The fund invests mainly in large- and mid-capitalizationcompanies whose stocks are considered by an advisor to beundervalued. Undervalued stocks are generally those that areout of favor with investors and that the advisor feels aretrading at prices that are below average in relation tomeasures such as earnings and book value. These stocksoften have above-average dividend yields. It uses multipleinvestment advisors.
Volatility AnalysisRisk: Average
In the past, this investment has shown a relatively moderaterange of price fluctuations relative to other investments. Thisinvestment may experience larger or smaller price declinesor price increases depending on market conditions. Some ofthis risk may be offset by owning other investments withdifferent portfolio makeups or investment strategies.
Portfolio AnalysisComposition as of 12-31-11 % Assets
U.S. Stocks 91.1Non-U.S. Stocks 7.0Bonds 0.0Cash 1.9Other 0.0
Morningstar Style Box™ as of 12-31-11 % Mkt Cap
LargeM
idSm
all
Value Blend Growth
Giant 52.59..........................................................Large 34.07Medium 12.42Small 0.91..........................................................Micro 0.01
Top 5 Holdings as of 12-31-11 % Assets
ConocoPhillips 3.58Pfizer Inc 3.44International Business Machines Corp 3.10Philip Morris International, Inc. 2.96Wells Fargo & Co 2.55
...........................................................................................................Total Number of Stock Holdings 255Total Number of Bond Holdings 0Annual Turnover Ratio % 23Total Fund Assets ($mil) 37,333.15
Morningstar Super Sectors as of 12-31-11 % Fund
Cyclical 25.15
Sensitive 41.86
Defensive 32.99
Risk Measures as of 03-31-12 Port Avg Rel S&P 500 Rel Cat
3 Yr Std Dev 16.77 1.03 0.993 Yr Beta 1.03 . 1.013 Yr Alpha -0.72 . 0.33
Operations
Fund Inception Date 05-14-01Portfolio Manager James P. Barrow
Management Company Vanguard Group, Inc.Web Site www.vanguard.com
38
Neuberger Berman Socially Resp Inv NBSRX Release Date03-31-2012
....................................................................................................................................................................................................................................................................................................................................................Morningstar CategoryLarge Growth
Overall Morningstar Rating™ Morningstar Return Morningstar RiskQQQQ Average Below AverageOut of 1459 Large Growth funds. An investment's overall Morningstar Rating, based on its risk-adjusted return, isa weighted average of its applicable 3-, 5-, and 10-year Ratings. See disclosure for details.
Investment Objective & StrategyFrom investment's prospectus
The investment seeks long-term growth of capital byinvesting primarily in securities of companies that meet thefund's financial criteria and social policy.
The fund invests primarily in common stocks of mid- tolarge-capitalization companies that meet the fund's socialpolicy. It seeks to reduce risk by investing across manydifferent industries. The Portfolio Managers employ aresearch driven and valuation sensitive approach to stockselection, with a long term perspective. Although the fundinvests primarily in domestic stocks, it may also invest instocks of foreign companies.
Volatility AnalysisRisk: Average
In the past, this investment has shown a relatively moderaterange of price fluctuations relative to other investments. Thisinvestment may experience larger or smaller price declinesor price increases depending on market conditions. Some ofthis risk may be offset by owning other investments withdifferent portfolio makeups or investment strategies.
Portfolio AnalysisComposition as of 01-31-12 % Assets
U.S. Stocks 81.8Non-U.S. Stocks 14.3Bonds 0.0Cash 4.0Other 0.0
Morningstar Style Box™ as of 01-31-12 % Mkt CapLarge
Mid
Small
Value Blend Growth
Giant 27.32..........................................................Large 47.95Medium 18.88Small 4.59..........................................................Micro 1.26
Top 5 Holdings as of 01-31-12 % Assets
Danaher Corporation 5.03Texas Instruments, Inc. 4.50Newfield Exploration Company 4.34Altera Corp. 4.23BG Group PLC 4.20
...........................................................................................................Total Number of Stock Holdings 33Total Number of Bond Holdings 0Annual Turnover Ratio % 20Total Fund Assets ($mil) 1,932.68
Morningstar Super Sectors as of 01-31-12 % Fund
Cyclical 21.37
Sensitive 52.66
Defensive 25.97
Risk Measures as of 03-31-12 Port Avg Rel S&P 500 Rel Cat
3 Yr Std Dev 16.99 1.05 0.943 Yr Beta 1.00 . 0.933 Yr Alpha -0.86 . 0.50
Operations
Fund Inception Date 03-16-94Portfolio Manager Arthur Moretti
Management Company Neuberger Berman ManagementLLC
Web Site www.nb.com
Vanguard 500 Index Signal VIFSX Release Date03-31-2012
....................................................................................................................................................................................................................................................................................................................................................Morningstar CategoryLarge Blend
Overall Morningstar Rating™ Morningstar Return Morningstar RiskQQQQ Above Average AverageOut of 1578 Large Blend funds. An investment's overall Morningstar Rating, based on its risk-adjusted return, isa weighted average of its applicable 3-, 5-, and 10-year Ratings. See disclosure for details.
Investment Objective & StrategyFrom investment's prospectus
The investment seeks to track the performance of abenchmark index that measures the investment return oflarge-capitalization stocks.
The fund employs a passive management or indexinginvestment approach designed to track the performance ofthe Standard & Poor‘s 500 Index, which is a widelyrecognized benchmark of U.S. stock market performance thatis dominated by the stocks of large U.S. companies. Itattempts to replicate the target index by investing all, orsubstantially all, of its assets in the stocks that make up theindex, holding each stock in approximately the sameproportion as its weighting in the index.
Volatility AnalysisRisk: Average
In the past, this investment has shown a relatively moderaterange of price fluctuations relative to other investments. Thisinvestment may experience larger or smaller price declinesor price increases depending on market conditions. Some ofthis risk may be offset by owning other investments withdifferent portfolio makeups or investment strategies.
Portfolio AnalysisComposition as of 12-31-11 % Assets
U.S. Stocks 99.7Non-U.S. Stocks 0.1Bonds 0.0Cash 0.2Other 0.0
Morningstar Style Box™ as of 12-31-11 % Mkt Cap
LargeM
idSm
all
Value Blend Growth
Giant 51.06..........................................................Large 35.21Medium 13.59Small 0.14..........................................................Micro 0.00
Top 5 Holdings as of 12-31-11 % Assets
Exxon Mobil Corporation 3.56Apple, Inc. 3.30International Business Machines Corp 1.90Chevron Corp 1.86Microsoft Corporation 1.70
...........................................................................................................Total Number of Stock Holdings 503Total Number of Bond Holdings 1Annual Turnover Ratio % 4Total Fund Assets ($mil) 110,789.09
Morningstar Super Sectors as of 12-31-11 % Fund
Cyclical 26.81
Sensitive 45.58
Defensive 27.60
Risk Measures as of 03-31-12 Port Avg Rel S&P 500 Rel Cat
3 Yr Std Dev 16.23 1.00 0.943 Yr Beta 1.00 . 0.963 Yr Alpha 0.01 . 0.00
Operations
Fund Inception Date 09-29-06Portfolio Manager Michael H. Buek
Management Company Vanguard Group, Inc.Web Site www.vanguard.com
39
JPMorgan Large Cap Growth R6 JLGMX Release Date03-31-2012
....................................................................................................................................................................................................................................................................................................................................................Morningstar CategoryLarge Growth
Overall Morningstar Rating™ Morningstar Return Morningstar Risk. . .
Investment Objective & StrategyFrom investment's prospectus
The investment seeks long-term capital appreciation andgrowth of income by investing primarily in equity securities.
The fund normally invests at least 80% of assets inequity securities of large companies with marketcapitalizations equal to those within the universe of theRussell 1000® Growth Index at the time of purchase. Itinvests in common stocks of companies with a history ofabove-average growth or companies expected to enterperiods of above-average growth.
Volatility AnalysisRisk: .
The volatility measure is not displayed for investments withfewer than three years of history.
Portfolio AnalysisComposition as of 02-29-12 % Assets
U.S. Stocks 87.4Non-U.S. Stocks 3.9Bonds 0.0Cash 8.7Other 0.0
Morningstar Style Box™ as of 02-29-12 % Mkt Cap
LargeM
idSm
all
Value Blend Growth
Giant 39.20..........................................................Large 44.41Medium 16.39Small 0.00..........................................................Micro 0.00
Top 5 Holdings as of 02-29-12 % Assets
Jpmorgan Liquid Assets Money Market Fu 12-31-49 8.69Apple, Inc. 7.69MasterCard Incorporated Class A 2.88International Business Machines Corp 2.53Intuitive Surgical, Inc. 2.27
...........................................................................................................Total Number of Stock Holdings 69Total Number of Bond Holdings 0Annual Turnover Ratio % 84Total Fund Assets ($mil) 5,556.59
Morningstar Super Sectors as of 02-29-12 % Fund
Cyclical 21.39
Sensitive 55.14
Defensive 23.47
Risk Measures as of 03-31-12 Port Avg Rel S&P 500 Rel Cat
3 Yr Std Dev . . .3 Yr Beta . . .3 Yr Alpha . . .
Operations
Fund Inception Date 11-30-10Portfolio Manager Giri Devulapally
Management Company JPMorgan Investment AdvisorsInc.
Web Site www.jpmorganfunds.com
Columbia Mid Cap Value Opportunity R4 RMCVX Release Date03-31-2012
....................................................................................................................................................................................................................................................................................................................................................Morningstar CategoryMid-Cap Value
Overall Morningstar Rating™ Morningstar Return Morningstar RiskQQQ Above Average Above AverageOut of 353 Mid-Cap Value funds. An investment's overall Morningstar Rating, based on its risk-adjusted return,is a weighted average of its applicable 3-, 5-, and 10-year Ratings. See disclosure for details.
Investment Objective & StrategyFrom investment's prospectus
The investment seeks long-term growth of capital.The fund normally invests at least 80% of assets in
equity securities of medium-sized companies whose marketcapitalizations at the time of purchase fall within the rangeof the Russell Midcap® Value Index. It may invest up to 25%of assets in foreign investments. The fund may invest up to20% of assets in stocks of smaller or larger companies. Itcan invest in any economic sector and, at times, the fundmay emphasize one or more particular sectors.
Volatility AnalysisRisk: Above Average
In the past, this investment has shown a wide range of pricefluctuations relative to other investments. This investmentmay experience significant price increases in favorablemarkets or undergo large price declines in adverse markets.Some of this risk may be offset by owning other investmentsthat follow different investment strategies.
Portfolio AnalysisComposition as of 01-31-12 % Assets
U.S. Stocks 95.1Non-U.S. Stocks 3.1Bonds 0.0Cash 1.6Other 0.2
Morningstar Style Box™ as of 01-31-12 % Mkt Cap
LargeM
idSm
all
Value Blend Growth
Giant 2.47..........................................................Large 24.47Medium 66.06Small 6.13..........................................................Micro 0.87
Top 5 Holdings as of 01-31-12 % Assets
CIT Group Inc 3.42Cooper Industries PLC. 3.08Lorillard, Inc. 2.77Agilent Technologies Inc 2.72Eastman Chemical Company 2.61
...........................................................................................................Total Number of Stock Holdings 119Total Number of Bond Holdings 0Annual Turnover Ratio % 46Total Fund Assets ($mil) 1,796.46
Morningstar Super Sectors as of 01-31-12 % Fund
Cyclical 35.63
Sensitive 42.17
Defensive 22.19
Risk Measures as of 03-31-12 Port Avg Rel S&P 500 Rel Cat
3 Yr Std Dev 21.32 1.31 1.063 Yr Beta 1.26 . 1.073 Yr Alpha -2.73 . 2.35
Operations
Fund Inception Date 02-14-02Portfolio Manager Steven R. Schroll
Management Company Columbia ManagementInvestment Adv LLC
Web Site www.columbiafunds.com
40
Neuberger Berman Mid Cap Growth Inv NMANX Release Date03-31-2012
....................................................................................................................................................................................................................................................................................................................................................Morningstar CategoryMid-Cap Growth
Overall Morningstar Rating™ Morningstar Return Morningstar RiskQQQQ Average Below AverageOut of 662 Mid-Cap Growth funds. An investment's overall Morningstar Rating, based on its risk-adjusted return,is a weighted average of its applicable 3-, 5-, and 10-year Ratings. See disclosure for details.
Investment Objective & StrategyFrom investment's prospectus
The investment seeks growth of capital.The fund normally invests at least 80% of its net assets
in common stocks of mid-capitalization companies, which itdefines as those with a total market capitalization within themarket capitalization range of the Russell Midcap Index atthe time of purchase. It seeks to reduce risk by diversifyingamong many companies, sectors and industries. In an effortto achieve its goal, the fund may engage in active andfrequent trading.
Volatility AnalysisRisk: Average
In the past, this investment has shown a relatively moderaterange of price fluctuations relative to other investments. Thisinvestment may experience larger or smaller price declinesor price increases depending on market conditions. Some ofthis risk may be offset by owning other investments withdifferent portfolio makeups or investment strategies.
Portfolio AnalysisComposition as of 01-31-12 % Assets
U.S. Stocks 91.2Non-U.S. Stocks 6.0Bonds 0.0Cash 2.8Other 0.0
Morningstar Style Box™ as of 01-31-12 % Mkt CapLarge
Mid
Small
Value Blend Growth
Giant 0.00..........................................................Large 20.79Medium 69.98Small 9.23..........................................................Micro 0.00
Top 5 Holdings as of 01-31-12 % Assets
Alexion Pharmaceuticals, Inc. 2.12Fastenal Company 2.02Dollar Tree Stores, Inc. 1.83Stericycle, Inc. 1.77Ross Stores, Inc. 1.71
...........................................................................................................Total Number of Stock Holdings 102Total Number of Bond Holdings 0Annual Turnover Ratio % 49Total Fund Assets ($mil) 653.52
Morningstar Super Sectors as of 01-31-12 % Fund
Cyclical 21.93
Sensitive 59.46
Defensive 18.61
Risk Measures as of 03-31-12 Port Avg Rel S&P 500 Rel Cat
3 Yr Std Dev 16.56 1.02 0.833 Yr Beta 0.94 . 0.823 Yr Alpha 3.84 . -8.73
Operations
Fund Inception Date 03-01-79Portfolio Manager Kenneth Turek
Management Company Neuberger Berman ManagementLLC
Web Site www.nb.com
Columbia Small Cap Value II Z NSVAX Release Date03-31-2012
....................................................................................................................................................................................................................................................................................................................................................Morningstar CategorySmall Value
Overall Morningstar Rating™ Morningstar Return Morningstar RiskQQQ Average AverageOut of 293 Small Value funds. An investment's overall Morningstar Rating, based on its risk-adjusted return, is aweighted average of its applicable 3-, 5-, and 10-year Ratings. See disclosure for details.
Investment Objective & StrategyFrom investment's prospectus
The investment seeks long-term capital appreciation.The fund normally invests at least 80% of net assets in
equity securities of companies that have marketcapitalizations in the range of the companies in the Russell2000 Value Index at the time of purchase that the Advisorbelieves are undervalued and have the potential forlong-term growth. It may invest up to 20% of total assets inforeign securities and also may invest in real estateinvestment trusts.
Volatility AnalysisRisk: Above Average
In the past, this investment has shown a wide range of pricefluctuations relative to other investments. This investmentmay experience significant price increases in favorablemarkets or undergo large price declines in adverse markets.Some of this risk may be offset by owning other investmentsthat follow different investment strategies.
Portfolio AnalysisComposition as of 01-31-12 % Assets
U.S. Stocks 95.5Non-U.S. Stocks 1.4Bonds 0.0Cash 3.0Other 0.0
Morningstar Style Box™ as of 01-31-12 % Mkt Cap
LargeM
idSm
all
Value Blend Growth
Giant 0.00..........................................................Large 0.00Medium 12.67Small 64.71..........................................................Micro 22.62
Top 5 Holdings as of 01-31-12 % Assets
Columbia Short-Term Cash 12-31-14 3.05New Jersey Resources Corporation 1.28NeuStar, Inc. 1.24CubeSmart 1.23South Jersey Industries 1.22
...........................................................................................................Total Number of Stock Holdings 128Total Number of Bond Holdings 0Annual Turnover Ratio % 60Total Fund Assets ($mil) 1,796.21
Morningstar Super Sectors as of 01-31-12 % Fund
Cyclical 45.36
Sensitive 36.79
Defensive 17.85
Risk Measures as of 03-31-12 Port Avg Rel S&P 500 Rel Cat
3 Yr Std Dev 23.75 1.46 1.033 Yr Beta 1.38 . 1.073 Yr Alpha -4.00 . 3.51
Operations
Fund Inception Date 05-01-02Portfolio Manager Christian K. Stadlinger
Management Company Columbia ManagementInvestment Adv LLC
Web Site www.columbiafunds.com
41
Alger Small Cap Growth Institutional I ALSRX Release Date03-31-2012
....................................................................................................................................................................................................................................................................................................................................................Morningstar CategorySmall Growth
Overall Morningstar Rating™ Morningstar Return Morningstar RiskQQQ Average AverageOut of 664 Small Growth funds. An investment's overall Morningstar Rating, based on its risk-adjusted return, isa weighted average of its applicable 3-, 5-, and 10-year Ratings. See disclosure for details.
Investment Objective & StrategyFrom investment's prospectus
The investment seeks long-term capital appreciation.The fund invests at least 80% of its net assets in equity
securities of companies that, at the time of purchase of thesecurities, have total market capitalization within the rangeof companies included in the Russell 2000 Growth Index orthe S&P SmallCap 600 Index, as reported by the indexes asof the most recent quarter-end. Both indexes are broadindexes of small capitalization stocks. It can also invest inderivative instruments.
Volatility AnalysisRisk: Above Average
In the past, this investment has shown a wide range of pricefluctuations relative to other investments. This investmentmay experience significant price increases in favorablemarkets or undergo large price declines in adverse markets.Some of this risk may be offset by owning other investmentsthat follow different investment strategies.
Portfolio AnalysisComposition as of 12-31-11 % Assets
U.S. Stocks 92.4Non-U.S. Stocks 4.5Bonds 0.0Cash 3.1Other 0.0
Morningstar Style Box™ as of 12-31-11 % Mkt CapLarge
Mid
Small
Value Blend Growth
Giant 0.00..........................................................Large 0.00Medium 26.83Small 68.89..........................................................Micro 4.27
Top 5 Holdings as of 12-31-11 % Assets
Novellus Systems, Inc. 1.32Clean Harbors, Inc. 1.28Actuant Corp A 1.27Silgan Holdings, Inc. 1.27Six Flags Entertainment Corp 1.26
...........................................................................................................Total Number of Stock Holdings 122Total Number of Bond Holdings 0Annual Turnover Ratio % 71Total Fund Assets ($mil) 1,199.97
Morningstar Super Sectors as of 12-31-11 % Fund
Cyclical 26.44
Sensitive 52.17
Defensive 21.38
Risk Measures as of 03-31-12 Port Avg Rel S&P 500 Rel Cat
3 Yr Std Dev 21.23 1.31 0.973 Yr Beta 1.20 . 0.983 Yr Alpha -1.31 . 1.70
Operations
Fund Inception Date 11-08-93Portfolio Manager Jill Greenwald
Management Company Fred Alger Management, Inc.Web Site www.alger.com
Thornburg International Value R5 TIVRX Release Date03-31-2012
....................................................................................................................................................................................................................................................................................................................................................Morningstar CategoryForeign Large Growth
Overall Morningstar Rating™ Morningstar Return Morningstar RiskQQQQ Average Below AverageOut of 210 Foreign Large Growth funds. An investment's overall Morningstar Rating, based on its risk-adjustedreturn, is a weighted average of its applicable 3-, 5-, and 10-year Ratings. See disclosure for details.
Investment Objective & StrategyFrom investment's prospectus
The investment seeks long-term capital appreciation; currentincome is the secondary objecive.
The fund normally invests at least 75% of assets inforeign securities or depository receipts of foreign securities.It invests in promising companies, and may invest in stocksthat reflect unfavorable market perceptions of the companyor industry fundamentals. The fund may invest in companiesof any size, but invests primarily in the large and middlecapitalization range of publicly traded companies.
Volatility AnalysisRisk: Above Average
In the past, this investment has shown a wide range of pricefluctuations relative to other investments. This investmentmay experience significant price increases in favorablemarkets or undergo large price declines in adverse markets.Some of this risk may be offset by owning other investmentsthat follow different investment strategies.
Portfolio AnalysisComposition as of 01-31-12 % Assets
U.S. Stocks 3.6Non-U.S. Stocks 90.1Bonds 0.0Cash 0.2Other 6.1
Morningstar Style Box™ as of 01-31-12 % Mkt Cap
LargeM
idSm
all
Value Blend Growth
Giant 74.36..........................................................Large 23.84Medium 1.81Small 0.00..........................................................Micro 0.00
Top 5 Holdings as of 01-31-12 % Assets
Sap AG 2.62Novo Nordisk A/S 2.56Standard Chartered PLC 2.47British American Tobacco PLC 2.42LVMH Moet Hennessy Louis Vuitton SA 2.41
...........................................................................................................Total Number of Stock Holdings 62Total Number of Bond Holdings 1Annual Turnover Ratio % 21Total Fund Assets ($mil) 28,065.48
Morningstar Super World Regions as of 01-31-12 % Fund
Americas 14.15Greater Europe 59.94Greater Asia 25.92
Risk Measures as of 03-31-12 Port Avg Rel S&P 500 Rel Cat
3 Yr Std Dev 19.37 1.19 0.933 Yr Beta 0.90 . 0.953 Yr Alpha 1.82 . 0.49
Operations
Fund Inception Date 02-01-05Portfolio Manager William V. Fries
Management Company Thornburg InvestmentManagement, Inc.
Web Site www.thornburg.com
42
DFA Emerging Markets Core Equity I DFCEX Release Date03-31-2012
....................................................................................................................................................................................................................................................................................................................................................Morningstar CategoryDiversified Emerging Mkts
Overall Morningstar Rating™ Morningstar Return Morningstar RiskQQQQ High AverageOut of 354 Diversified Emerging Mkts funds. An investment's overall Morningstar Rating, based on itsrisk-adjusted return, is a weighted average of its applicable 3-, 5-, and 10-year Ratings. See disclosure fordetails.
Investment Objective & StrategyFrom investment's prospectus
The investment seeks long-term capital appreciation.The fund purchases a broad and diverse group of
securities associated with emerging markets, which mayinclude frontier markets (emerging market countries in anearlier stage of development), authorized for investment bythe Advisor's Investment Committee ("Approved Markets"),with an increased exposure to securities of small cap issuersand securities that it considers to be value securities. It maygain exposure to companies in Approved Markets bypurchasing equity securities in the form of depositaryreceipts, which may be listed or traded outside the issuer'sdomicile country.
Volatility AnalysisRisk: Above Average
In the past, this investment has shown a wide range of pricefluctuations relative to other investments. This investmentmay experience significant price increases in favorablemarkets or undergo large price declines in adverse markets.Some of this risk may be offset by owning other investmentsthat follow different investment strategies.
Portfolio AnalysisComposition as of 01-31-12 % Assets
U.S. Stocks 1.0Non-U.S. Stocks 98.6Bonds 0.0Cash 0.1Other 0.3
Morningstar Style Box™ as of 01-31-12 % Mkt CapLarge
Mid
Small
Value Blend Growth
Giant 28.62..........................................................Large 34.94Medium 25.23Small 8.73..........................................................Micro 2.48
Top 5 Holdings as of 01-31-12 % Assets
Samsung Electronics Co Ltd 1.95Gazprom OAO ADR 1.49Petroleo Brasileiro SA Petrobras ADR 1.28Vale SA ADR 1.06Petroleo Brasileiro SA Petrobras ADR 1.02
...........................................................................................................Total Number of Stock Holdings 3432Total Number of Bond Holdings 0Annual Turnover Ratio % 1Total Fund Assets ($mil) 7,569.93
Morningstar Super World Regions as of 01-31-12 % Fund
Americas 22.92Greater Europe 16.09Greater Asia 60.99
Risk Measures as of 03-31-12 Port Avg Rel S&P 500 Rel Cat
3 Yr Std Dev 26.85 1.65 1.063 Yr Beta 1.16 . 1.073 Yr Alpha 7.66 . 1.39
Operations
Fund Inception Date 04-05-05Portfolio Manager Karen E. Umland
Management Company Dimensional Fund Advisors LPWeb Site www.dimensional.com
43
A redemption fee may apply to short-term investments. TheStandard charges fees in addition to those charged by theFund.
Investments are subject to market risks and fluctuate invalue. Past performance is no guarantee of future results.
Plan sponsors and participants should carefullyconsider the investment objectives, risks, charges andexpenses of the investment options offered under theretirement plan before investing. The prospectuses forthe individual mutual funds contain this and otherimportant information. Prospectuses may be obtainedby calling 877.805.1127. Please read the prospectuscarefully before investing.
NOT A DEPOSIT – NOT FDIC INSURED – NOT INSURED BYANY FEDERAL GOVERNMENT AGENCY – NOTGUARANTEED BY THE INSTITUTION – MAY GO DOWN INVALUE
Morningstar Rating™Often simply called the Star Rating, the Morningstar Ratingbrings load-adjustments, performance (returns) and risktogether into one evaluation. To determine a fund’s starrating for a given time period (three, five, or 10 years), thefund's risk-adjusted return is plotted on a bell curve: If thefund scores in the top 10% of its category, it receives 5 stars(Highest); if it falls in the next 22.5% it receives 4 stars(Above Average); a place in the middle 35% earns 3 stars(Average); those lower still, in the next 22.5%, receive 2stars (Below Average); and the bottom 10% get only 1 star(Lowest). The Overall Morningstar Rating is a weightedaverage of the available three-, five-, and 10-year ratings.
Morningstar ReturnThis statistic is a measurement of a fund’s excess return overa risk-free rate (the return of the 90-day Treasury bill), afteradjusting for all applicable loads and sales charges. In eachMorningstar Category, the top 10% of funds earn a HighMorningstar Return, the next 22.5% Above Average, themiddle 35% Average, the next 22.5% Below Average, andthe bottom 10% Low. Morningstar Return is measured for upto three time periods (three-, five-, and 10-years). Theseseparate measures are then weighted and averaged toproduce an overall measure for the fund. Funds with lessthan three years of performance history are not rated.
Morningstar RiskThis statistic evaluates the variations in a fund’s monthlyreturns, with an emphasis on downside variations. In eachMorningstar Category, the 10% of funds with the lowestmeasured risk are described as Low Risk, the next 22.5%Below Average, the middle 35% Average, the next 22.5%Above Average, and the top 10% High. Morningstar Risk ismeasured for up to three time periods (three-, five-, and10-years). These separate measures are then weighted andaveraged to produce an overall measure for the fund. Fundswith less than three years of performance history are notrated.
Risk MeasuresR-squared reflects the percentage of a fund’s movementsthat are explained by movements in its benchmark index,
showing the degree of correlation between the fund and thebenchmark.
Beta is a measure of a fund’s sensitivity to marketmovements. A portfolio with a beta greater than 1 is morevolatile than the market, and a portfolio with a beta less than1 is less volatile than the market.
Alpha measures the difference between a fund’s actualreturns and its expected performance, given its level of risk(as measured by beta).
Sharpe ratio uses standard deviation and excess return todetermine reward per unit of risk.
Standard deviation is a statistical measure of the volatility ofthe fund’s returns.
Morningstar Style Box™The Morningstar Style Box reveals a fund’s investmentstrategy. For equity funds and fixed-income fundsrespectively, the vertical axis shows the marketcapitalization of the stocks owned or the average creditquality of the bonds owned. The horizontal axis showsinvestment style (value, blend, or growth) or interest ratesensitivity as measured by a bond’s duration (short,intermediate or long). Duration is a measure of interest-ratesensitivity-the longer a fund’s duration, the more sensitivethe fund is to shifts in interest rates.
Investment RiskForeign Securities Funds/Emerging Markets Funds: Fundsthat invest in foreign securities involve special additionalrisks. These risks include, but are not limited to, currencyrisk, political risk, and risk associated with varyingaccounting standards. Investing in emerging markets mayaccentuate these risks.
Sector Funds: Funds that invest exclusively in one sector orindustry involve additional risks. The lack of industrydiversification subjects the investor to increasedindustry-specific risks.
Non-Diversified Funds: Funds that invest more of their assetsin a single issuer involve additional risks, including shareprice fluctuations, because of the increased concentration ofinvestments.
Small Cap Funds: Funds that invest in stocks of smallcompanies involve additional risks. Smaller companiestypically have a higher risk of failure, and are not as wellestablished as larger blue-chip companies. Historically,smaller-company stocks have experienced a greater degreeof market volatility than the overall market average.
Mid Cap Funds: Funds that invest in companies with marketcapitalizations below $10 billion involve additional risks. Thesecurities of these companies may be more volatile and lessliquid than the securities of larger companies.
High-Yield Bond Funds: Funds that invest in lower-rated debtsecurities (commonly referred to as junk bonds) involveadditional risks because of the lower credit quality of the
securities in the portfolio. The investor should be aware ofthe possible higher level of volatility, and increased risk ofdefault. The investor should also be aware that as interestrates rise, bond prices will fall.
Funds that invest in Derivatives: Funds that invest inderivatives are subject to a number of risks, such as liquidityrisk, interest rate risk, market risk, credit risk, andmanagement risk. A Fund investing in a derivative instrumentcould lose more than the principal amount invested, asstated in the Fund's prospectus.
Real Estate Funds: Real estate investment funds are subjectto risks, such as market forces, that may affect the values oftheir underlying real estate assets.
Important Disclosures
©2009 Morningstar, Inc., Morningstar Investment Profiles™ 312-696-6000. 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 arisingfrom any use of information. Past performance is no guarantee of future performance. Visit our investment website at www.morningstar.com.
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PHONE
800.858.5420between 5 a.m. and 5 p.m. Pacifi c time, 8 a.m and 8 p.m. Eastern
WEBSITE
www.standard.com/retirement
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Return Address Line 12930 Flowers Road SouthSuite 133AAtlanta, GA 30341
Standard Retirement Services, Inc.1100 SW Sixth AvenuePortland, OR 97204800.858.5420
www.standard.com/retirement
806561 (06/04/2012)
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