Invest in your retirement and yourself today, with help ... · University System of Georgia Board of Regents Retirement Plan No. 95401- Online Enrollment ... the inve stme nt op tions

YOUR GUIDE TO GETTING STARTED

University System of Georgia Board of Regents Retirement PlanNo. 95401- Online Enrollment

Invest in your retirement—and yourself—today, with help from

the Board of Regents Retirement Plan of the University System

of Georgia and Fidelity.

Invest some of what you earn today for what you plan toaccomplish tomorrow.

Your Employer offers outstanding convenience and a variety of investment options. Take a look andsee what a difference enrolling in the Plan could make in achieving your goals.

Benefit from:

Online enrollment. Simply go to Fidelity NetBenefits® at www.netbenefits.com/atwork or call theRetirement Service Representatives at 1-800-343-0860 to enroll in the Plan.

Employer contributions. University System of Georgia’s contributions are an important part of youroverall retirement savings. You are eligible to receive Employer contributions based on yourposition, which you decide how best to invest for your future goals.

Tax-deferred savings opportunities. You pay no taxes on any earnings until you withdraw themfrom your account, enabling you to keep more of your money working for you now.

Investment options. You have the flexibility to select from investment options that range frommore conservative to more aggressive, making it easy for you to develop a well-diversifiedinvestment portfolio. Your plan offers you the option of having experienced professionals manageyour account for you.

Online beneficiary. With Fidelity’s Online Beneficiaries Service, you can designate yourbeneficiaries, receive instant online confirmation, and check your beneficiary information virtuallyany time.

To learn more about what your plan offers, see “Frequently asked questions about your plan” laterin this guide.

Sincerely,

University System of Georgia

Enroll in your plan and invest in yourself today.

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Frequently asked questions about your plan.Here are answers to questions you may have about the key features, benefits, and rules of your plan.

When can I enroll in the Plan?

You are eligible to enroll in the GeorgiaOptional Retirement Plan during your first 60days of employment. The Georgia OptionalRetirement Plan is an alternative to theTeachers Retirement System of Georgia. Youmust enroll in one of the two plans. Yourdecision is irrevocable.

How do I enroll in the Plan?

Your enrollment is effective once you completeyour institution’s enrollment form, which maybe obtained from your institution’s benefitsoffice.

Once your enrollment is complete, you mayview and manage your account by logging onto Fidelity NetBenefits® atwww.netbenefits.com/atwork.

How much can I contribute?

You must make a mandatory contribution of6% of your eligible pay, up to the annual IRSdollar limits.

What is the IRS contribution limit?

The IRS contribution limit for 2017 is $18,000.

When is my enrollment effective?

Your enrollment becomes effective once youelect a deferral percentage, which initiatesdeduction of your contributions from your pay.You will generally begin to see yourcontributions deducted from your paycheck inthe next pay period, or as soon asadministratively possible.

Does the Employer contribute to myaccount?

The Board of Regents Retirement Plan of theUniversity System of Georgia offers anEmployer Discretionary Contribution of 9.24%into the 401(a) Plan with the University Systemof Georgia. Please contact your HumanResources department for more details.

How do I designate my beneficiary?

If you have not already selected yourbeneficiaries, or if you have experienced a life-changing event such as a marriage, divorce,birth of a child, or a death in the family, it’s timeto consider your beneficiary designations.Fidelity’s Online Beneficiaries Service, availablethrough Fidelity NetBenefits®, offers astraightforward, convenient process that takesjust minutes. Simply log on to NetBenefits® atwww.netbenefits.com/atwork and click on the“Profile” link, then select “Beneficiaries” andfollow the online instructions. If you do nothave access to the Internet or prefer tocomplete your beneficiary information bypaper form, please call the Retirement ServiceRepresentatives at 1-800-343-0860.

What are my investment options?

To help you meet your investment goals, thePlan offers you a range of options. You canselect a mix of investment options that bestsuits your goals, time horizon, and risktolerance. The many investment optionsavailable through the Plan includeconservative, moderately conservative, andaggressive funds. A complete description ofthe Plan’s investment options and theirperformance, as well as planning tools to help

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you choose an appropriate mix, are availableonline at Fidelity NetBenefits.®

What if I don’t make an investment election

We encourage you to take an active role in theBoard of Regents Retirement Plan of theUniversity System of Georgia and chooseinvestment options that best suit your goals,time horizon, and risk tolerance. If you do notselect specific investment options in the Plan,your contributions will be invested in the theFidelity Freedom K® Fund with the targetretirement date closest to the year you mightretire, based on your current age and assuminga retirement age of 65, at the direction ofGeorgia ORP. Please refer to the chart in theInvestment Options section for more detail.

If no date of birth or an invalid date of birth ison file at Fidelity, your contributions may beinvested in the Fidelity Freedom K® IncomeFund. For more information about the FidelityFreedom K® Fund options, log intowww.netbenefits.com/atwork.

When am I vested?

You are immediately 100% vested in yourcontributions to the Board of Regents of theUniversity System of Georgia 403(b) DeferredCompensation Plan, as well as you are always100% vested in the University’s contributions tothe 401(a) Board of Regents Retirement Plan.

Can I make withdrawals?

Withdrawals from the Plan are generallypermitted when you terminate youremployment or retire, as defined by your Plan.

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Tier 1: TTaarrggeett DDaattee FFuunnddss

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

The chart below lists the assigned fund the Board of Regents Retirement Plan of the University System of Georgia believes will best fit your diversification needs should you not select an investment option.

Your Birth Date* Fund Name Target Retirement Years

Before 1938 Fidelity Freedom K® Income Fund Retired before 2002

January 1, 1938–December 31, 1942 Fidelity Freedom K® 2005 Fund 2003–2007











January 1, 1993, or later Fidelity Freedom K® 2060 Fund 2058 and beyond

*Dates selected by Plan Sponsor

Investment options to the left have potentially more inflation risk and less investment risk

Investment options to the right have potentially less inflation risk and more investment risk

Placement of investment options within each risk spectrum is only in relation to the investment options within that specific spectrum. Placement does not reflect risk relative to the investment options shown in the other risk spectrums.

Risk Spectrum for TTarget Date

Investment Options

The following is a list of investment options for the Board of Regents Retirement Plan of the University System of Georgia, organized by category. For up-to-date performance information and other fund specifics, go to www.netbenefits.com/atwork.

Fidelity Freedom K® Income Fund Fidelity Freedom K® 2020 Fund Fidelity Freedom K® 2040 Fund

Fidelity Freedom K® 2005 Fund Fidelity Freedom K® 2025 Fund Fidelity Freedom K® 2045 Fund



Fidelity Freedom K® 2060 Fund

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This spectrum, with the exception of the Domestic Equity category, is based on Fidelity’s analysis of the characteristics of the generalinvestment categories of the investment options and not on the actual security holdings, which can change frequently. Investment options in the Domestic Equity category are based on the options’ Morningstar categories as of 03/31/2017. Morningstar categories are based on a fund’s style as measured by its underlying portfolio holdings over the past three years and mayaa chy ange at any time.These style calculations do not represent the investment options’ objectives and do not predict the investment options’ future styles.Investment options are listed in alphabetical order within each investment category. Risk associated with the investment options canvary significantly within each particular investment category, and the relative risk of categories may change under certain economicconditions. For a more complete discussion of risk associated with the mutual fund options, please read the prospectuses beforemaking your investment decision. The spectrum does not represent actual or implied performance.

Tier 2: Core Investment Options

Investment options to the left have potentially more inflation risk and less investment risk

Investment options to the right have potentially less inflation risk and more investment risk

CONSERVATIVE AGGRESSIVE

Fidelity® Money MarketTrust Retirement Government MoneyMarket Portfolio

DiversifiedPIMCO Total Return Fund Institutional ClassVanguard Long-TermBond Index FundInvestor SharesVanguard Short-TermBond Index FundAdmiral SharesInternational/GlobalFidelity® New Markets Income FundTempleton Global Bond Fund Class R6

Large ValueEaton Vance Large-Cap Value Fund Class IMid ValueJohn Hancock FundsDisciplined Value MidCap Fund Class ISmall ValueNorthern Small CapValue Fund

Large BlendSpartan® 500 Index Fund—Institutional ClassMid BlendSpartan® Extended Market Index Fund—Fidelity Advantage Class

Large GrowthFidelity® Contrafund®—Class KNeuberger Berman Guardian Fund Class InvestorMid GrowthBaron Growth Fund Institutional SharesWells Fargo Discovery Fund—Class R6Small GrowthLoomis Sayles Small Cap Growth Fund Institutional Class

DiversifiedMorgan StanleyInstitutional Fund, Inc.International EquityPortfolio Class ISSpartan® Global ex U.S.Index Fund—FidelityAdvantage ClassEmerging MarketsDFA Emerging Markets PortfolioInstitutional Class

Money Market Bond Domestic Equity

International/Global Equity

SHORT-TERM

INVESTMENT

BONDS STOCKS

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Tier 3: Fidelity BrokerageLink®

Fidelity BrokerageLink® combines the convenience of your workplace retirement plan with the additional flexibility of a brokerage account. It gives you expanded investment choices to manage your retirement contributions. BrokerageLink includes investments beyond those in your plan’s lineup. The plan fiduciary neither evaluates nor monitors the investments available through BrokerageLink. It is your responsibility to ensure that the investments you select are suitable for your situation, including your goals, time horizon, and risk tolerance. See the fact sheet and commission schedule for applicable fees and risks.

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

American Century Government Bond Fund R5 Class

VRS Code: 77219

Fund Objective: The investment seeks high current income.

Fund Strategy: Under normal market conditions, the fund invests at least 80% of its net assets in U.S. government debtsecurities, including U.S. Treasury securities and other securities issued or guaranteed by the U.S. government and its agenciesand instrumentalities.

Fund Risk: In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise,bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed incomesecurities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, mostbond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is notpossible. Additional risk information for this product may be found in the prospectus or other product materials, if available.

Fund short term trading fees: None

Who may want to invest:● Someone who is seeking a fund that invests primarily in securities issued by the U.S. government and its agencies or

instrumentalities.

● Someone who is seeking to diversify an equity portfolio with a more conservative investment option.

Footnotes:● This description is only intended to provide a brief overview of the mutual fund. Read the fund’s prospectus for more detailed

information about the fund.

● The analysis on these pages may be based, in part, on adjusted historical returns for periods prior to the class’s actualinception of 03/01/2010. These calculated returns reflect the historical performance of the oldest share class of the fund, withan inception date of 05/16/1980, adjusted to reflect the fees and expenses of this share class (when this share class’s fees andexpenses are higher.) Please refer to a fund’s prospectus for information regarding fees and expenses. These adjustedhistorical returns are not actual returns. Calculation methodologies utilized by Morningstar may differ from those applied byother entities, including the fund itself.

● As of April 10, 2017, this fund changed the name of its share class from Institutional Class.

American Century Growth Fund Institutional Class

VRS Code: 20800

Fund Objective: The investment seeks long-term capital growth.

Fund Strategy: The fund invests in stocks of companies that the adviser believes will increase in value over time. The portfoliomanagers use a variety of analytical research tools and techniques to identify the stocks of larger-sized companies that meettheir investment criteria. Normally, the fund’s portfolio will primarily consist of securities of companies demonstrating businessimprovement. Although the portfolio managers intend to invest the fund’s assets primarily in U.S. securities, the fund mayinvest in securities of foreign companies when these securities meet the portfolio managers’ standards of selection.

Fund Risk: Growth stocks can perform differently from the market as a whole and can be more volatile than other types ofstocks. Stock markets are volatile and can decline significantly in response to adverse issuer, political, regulatory, market,economic or other developments. These risks may be magnified in foreign markets. Additional risk information for this productmay be found in the prospectus or other product materials, if available.


Who may want to invest:● Someone who is seeking the potential for long-term share-price appreciation.

● Someone who is willing to accept the generally greater price volatility associated with growth-oriented stocks.

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American Funds AMCAP Fund® Class R-6

VRS Code: 85234

Fund Objective: The investment seeks long-term growth of capital.

Fund Strategy: The fund invests primarily in common stocks of U.S. companies that have solid long-term growth records andthe potential for good future growth. The basic investment philosophy of the investment adviser is to seek to invest inattractively valued companies that, in its opinion, represent good, long-term investment opportunities.








American Funds American Balanced Fund® Class R-6

VRS Code: 85042

Fund Objective: The investment seeks conservation of capital, current income and long-term growth of capital and income.

Fund Strategy: The fund uses a balanced approach to invest in a broad range of securities, including common stocks andinvestment-grade bonds. It also invests in securities issued and guaranteed by the U.S. government and by federal agenciesand instrumentalities. In addition, the fund may invest a portion of its assets in common stocks, most of which have a history ofpaying dividends, bonds and other securities of issuers domiciled outside the United States.

Fund Risk: Stock markets are volatile and can decline significantly in response to adverse issuer, political, regulatory, market,economic or other developments. These risks may be magnified in foreign markets. In general the bond market is volatile, andfixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usuallymore pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks forboth issuers and counterparties. Additional risk information for this product may be found in the prospectus or other productmaterials, if available.


Who may want to invest:● Someone who is seeking to invest in a fund that invests in both stocks and bonds.

● Someone who is seeking the potential both for income and for long-term share-price appreciation and who is willing toaccept the volatility of the bond and stock markets.

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American Funds Capital Income Builder® Class R-6

VRS Code: 89284

Fund Objective: The investment seeks a level of current income and a growing stream of income over years; growth of capitalis the secondary objective.

Fund Strategy: The fund normally will invest at least 90% of its assets in income-producing securities (with at least 50% of itsassets in common stocks and other equity securities). It invests primarily in a broad range of income-producing securities,including common stocks and bonds. In seeking to provide the investors with a level of current income that exceeds theaverage yield on U.S. stocks, the fund generally looks to the average yield on stocks of companies listed on the S&P 500 Index.

Fund Risk: Foreign securities are subject to interest-rate, currency-exchange-rate, economic, and political risks, all of whichmay be magnified in emerging markets. Stock markets are volatile and can decline significantly in response to adverse issuer,political, regulatory, market, economic or other developments. These risks may be magnified in foreign markets. In general thebond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, andvice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation riskand credit and default risks for both issuers and counterparties. Additional risk information for this product may be found in theprospectus or other product materials, if available.


Who may want to invest:● Someone who is seeking to invest in a fund that invests in both domestic and international stocks and bonds.

● Someone who is seeking the potential both for income and for long-term share-price appreciation and who is willing toaccept the potentially greater volatility of the foreign bond and stock markets.




● S&P 500 Index is a market capitalization-weighted index of 500 common stocks chosen for market size, liquidity, and industrygroup representation to represent U.S. equity performance.

American Funds Capital World Bond Fund® Class R-6

VRS Code: 85238

Fund Objective: The investment seeks to provide a high level of total return.

Fund Strategy: The fund will invest at least 80% of its assets in bonds and other debt securities. It invests primarily in debtsecurities, including asset-backed and mortgage-backed securities and securities of governmental, supranational andcorporate issuers denominated in various currencies, including U.S. dollars. The fund may invest substantially in securities ofissuers domiciled outside the United States, including issuers domiciled in developing countries. Normally, it will investsubstantially in investment-grade bonds. The fund is non-diversified.

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Fund Risk: Foreign securities are subject to interest-rate, currency-exchange-rate, economic, and political risks, all of whichmay be magnified in emerging markets. The fund may invest in lower-quality debt securities that involve greater risk of defaultor price changes due to potential changes in the credit quality of the issuer. In general the bond market is volatile, and fixedincome securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usuallymore pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks forboth issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding lossescaused by price volatility by holding them until maturity is not possible. Additional risk information for this product may befound in the prospectus or other product materials, if available.


Who may want to invest:● Someone who is seeking potential returns primarily in the form of interest dividends rather than through an increase in share

price.

● Someone who is seeking to complement his or her core bond holdings with international bond investments and who cantolerate the greater risks associated with foreign investments.




American Funds Fundamental Investors® Class R-6

VRS Code: 85016

Fund Objective: The investment seeks long-term growth of capital and income.

Fund Strategy: The fund invests primarily in common stocks of companies that appear to offer superior opportunities forcapital growth and most of which have a history of paying dividends. It may invest significantly in securities of issuers domiciledoutside the United States. The investment adviser uses a system of multiple portfolio managers in managing the fund’s assets.

Fund Risk: Value and growth stocks can perform differently from other types of stocks. Growth stocks can be more volatile.Value stocks can continue to be undervalued by the market for long periods of time. Stock markets are volatile and can declinesignificantly in response to adverse issuer, political, regulatory, market, economic or other developments. These risks may bemagnified in foreign markets. Additional risk information for this product may be found in the prospectus or other productmaterials, if available.


Who may want to invest:● Someone who is seeking the potential for long-term share-price appreciation and, secondarily, dividend income.

● Someone who is seeking both growth- and value-style investments and who is willing to accept the volatility associated withinvesting in the stock market.




American Funds Investment Company of America® Class R-6

VRS Code: 85018

Fund Objective: The investment seeks long-term growth of capital and income.

Fund Strategy: The fund invests primarily in common stocks, most of which have a history of paying dividends. It may investup to 15% of its assets, at the time of purchase, in securities of issuers domiciled outside the United States. Although the fundfocuses on investments in medium to larger capitalization companies, the fund’s investments are not limited to a particularcapitalization size.

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American Funds New Perspective Fund® Class R-6

VRS Code: 85010

Fund Objective: The investment seeks long-term growth of capital; future income is a secondary objective.

Fund Strategy: The fund seeks to take advantage of investment opportunities generated by changes in international tradepatterns and economic and political relationships by investing in common stocks of companies located around the world. Inpursuing its primary investment objective, it invests primarily in common stocks that the investment adviser believes have thepotential for growth. In pursuing its secondary objective, the fund invests in common stocks of companies with the potential topay dividends in the future.

Fund Risk: Foreign securities are subject to interest-rate, currency-exchange-rate, economic, and political risks, all of whichmay be magnified in emerging markets. Stock markets are volatile and can decline significantly in response to adverse issuer,political, regulatory, market, economic or other developments. Additional risk information for this product may be found in theprospectus or other product materials, if available.


Who may want to invest:● Someone who is seeking an investment that invests in both domestic and international markets.

● Someone who is willing to accept the volatility of the markets and the generally higher degree of risk associated withinternational investments.




American Funds The Growth Fund of America® Class R-6

VRS Code: 85043

Fund Objective: The investment seeks growth of capital.

Fund Strategy: The fund invests primarily in common stocks and seeks to invest in companies that appear to offer superioropportunities for growth of capital. It may invest up to 25% of its assets in securities of issuers domiciled outside the UnitedStates. The investment adviser uses a system of multiple portfolio managers in managing the fund’s assets. Under thisapproach, the portfolio of the fund is divided into segments managed by individual managers who decide how their respectivesegments will be invested.

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American Funds Washington Mutual Investors Fund Class R-6

VRS Code: 85020

Fund Objective: The investment seeks to produce income and to provide an opportunity for growth of principal consistentwith sound common stock investing.

Fund Strategy: The fund invests primarily in common stocks of established companies that are listed on, or meet the financiallisting requirements of, the New York Stock Exchange and have a strong record of earnings and dividends. Its advisor strives tomaintain a fully invested, diversified portfolio, consisting primarily of high-quality common stocks.

Fund Risk: Value stocks can perform differently than other types of stocks and can continue to be undervalued by the marketfor long periods of time. Stock markets are volatile and can decline significantly in response to adverse issuer, political,regulatory, market, economic or other developments. These risks may be magnified in foreign markets. Additional riskinformation for this product may be found in the prospectus or other product materials, if available.



● Someone who is comfortable with the volatility of large-cap stocks and value-style investments.




Baron Growth Fund Institutional Shares

VRS Code: 85220

Fund Objective: The investment seeks capital appreciation through long-term investments primarily in securities of small-sizedgrowth companies.

Fund Strategy: The fund invests for the long term primarily in equity securities in the form of common stock of small-sizedgrowth companies. BAMCO, Inc. ("BAMCO" or the "Adviser") defines small-sized companies as those, at the time ofpurchase, with market capitalizations up to the largest market cap stock in the Russell 2000 Growth Index at reconstitution, orcompanies with market capitalizations up to $2.5 billion, whichever is larger.

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Fund Risk: Growth stocks can perform differently from the market as a whole and can be more volatile than other types ofstocks. The securities of smaller, less well-known companies can be more volatile than those of larger companies. Stockmarkets are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, economic or otherdevelopments. These risks may be magnified in foreign markets. Additional risk information for this product may be found inthe prospectus or other product materials, if available.



● Someone who is willing to accept the generally greater price volatility associated both with growth-oriented stocks and withsmaller companies.



● The Russell 2000® Growth Index is an unmanaged market capitalization-weighted index of growth-oriented stocks of U.S.domiciled companies that are included in the Russell 2000 Index. Growth-oriented stocks tend to have higher price-to-bookratios and higher forecasted growth values.


BlackRock Advantage Small Cap Growth Fund Institutional Shares

VRS Code: 20037


Fund Strategy: The fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in equitysecurities of small cap companies and at least 80% of its net assets (plus any borrowings for investment purposes) in securitiesor instruments of issuers located in the United States. The advisor defines these companies as those with marketcapitalizations, at the time of the fund’s investment, comparable in size to the companies in the Russell 2000® Index. Fromtime to time it may invest in shares of companies through "new issues" or initial public offerings ("IPOs").

Fund Risk: The securities of smaller, less well-known companies can be more volatile than those of larger companies. Growthstocks can perform differently from the market as a whole and can be more volatile than other types of stocks. Stock marketsare volatile and can decline significantly in response to adverse issuer, political, regulatory, market, economic or otherdevelopments. These risks may be magnified in foreign markets. Additional risk information for this product may be found inthe prospectus or other product materials, if available.






● The Russell 2000® Growth Index is an unmanaged market capitalization-weighted index of growth-oriented stocks of U.S.domiciled companies that are included in the Russell 2000 Index. Growth-oriented stocks tend to have higher price-to-bookratios and higher forecasted growth values.

● As of February 15, 2017, this fund changed its name from BlackRock Small Cap Growth Equity Portfolio.

BlackRock Equity Dividend Fund Institutional Shares

VRS Code: 18456

Fund Objective: The investment seeks long-term total return and current income.

Fund Strategy: The fund seeks to achieve its objective by investing primarily in a diversified portfolio of equity securities.Under normal circumstances, it will invest at least 80% of its assets in equity securities and at least 80% of its assets in dividendpaying securities. The fund may invest in securities of companies with any market capitalization, but will generally focus onlarge cap securities. It may also invest in convertible securities and non-convertible preferred stock. The fund may invest up to25% of its total assets in securities of foreign issuers.

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BlackRock Global Allocation Fund, Inc. Institutional Shares

VRS Code: 99084

Fund Objective: The investment seeks to provide high total investment return.

Fund Strategy: The fund invests in a portfolio of equity, debt and money market securities. Generally, the fund’s portfolio willinclude both equity and debt securities. It may invest up to 35% of its total assets in "junk bonds," corporate loans anddistressed securities. The fund may also invest in Real Estate Investment Trusts ("REITs") and securities related to real assets(like real estate- or precious metals-related securities) such as stock, bonds or convertible bonds issued by REITs or companiesthat mine precious metals.

Fund Risk: Foreign securities are subject to interest-rate, currency-exchange-rate, economic, and political risks, all of whichmay be magnified in emerging markets. Stock markets are volatile and can decline significantly in response to adverse issuer,political, regulatory, market, economic or other developments. These risks may be magnified in foreign markets. In general thebond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, andvice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation riskand credit and default risks for both issuers and counterparties. Additional risk information for this product may be found in theprospectus or other product materials, if available.


Who may want to invest:● Someone who is seeking to invest in a fund that invests in both domestic and international stocks and bonds.

● Someone who is seeking the potential both for income and for long-term share-price appreciation and who is willing toaccept the potentially greater volatility of the foreign bond and stock markets.



BlackRock International Opportunities Portfolio Institutional Shares

VRS Code: 49058

Fund Objective: The investment seeks long-term capital appreciation.

Fund Strategy: The fund normally invests at least 80% of its net assets in equity securities issued by foreign companies of anymarket capitalization. It may invest up to 40% of its net assets in stocks of issuers in emerging market countries. The fundprimarily invests in common stock but can also invest in preferred stock and convertible securities. From time to time it mayinvest in shares of companies through initial public offerings ("IPOs").

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Fund Risk: Foreign securities are subject to interest-rate, currency-exchange-rate, economic, and political risks, all of whichmay be magnified in emerging markets. Value and growth stocks can perform differently from other types of stocks. Growthstocks can be more volatile. Value stocks can continue to be undervalued by the market for long periods of time. Stock marketsare volatile and can decline significantly in response to adverse issuer, political, regulatory, market, economic or otherdevelopments. Additional risk information for this product may be found in the prospectus or other product materials, ifavailable.


Who may want to invest:● Someone who is seeking to complement a portfolio of domestic investments with international investments, which can

behave differently.

● Someone who is willing to accept the higher degree of risk associated with investing overseas.



BlackRock U.S. Opportunities Portfolio Institutional Shares

VRS Code: 40922

Fund Objective: The investment seeks to provide long-term capital appreciation.

Fund Strategy: The fund invests at least 80% of its net assets in equity securities issued by U.S. emerging capitalizationcompanies with relatively attractive earnings growth potential and valuation. The advisor generally defines these companies, atthe time of the fund’s investment, as those with market capitalizations comparable in size to those within the universe of RussellMidcap® Index stocks. It may also invest in real estate investment trusts ("REITs").







● The Russell Midcap® Index is an unmanaged market capitalization-weighted index of 800 medium-capitalization stocks. Thestocks are also members of the Russell 1000® index.

Columbia Acorn Fund Class Y Shares

VRS Code: 89743


Fund Strategy: The fund invests a majority of its net assets in the common stock of small- and mid-sized companies withmarket capitalizations under $5 billion at the time of initial investment and (ii) may also invest in companies with marketcapitalizations above $5 billion, provided that immediately after that investment a majority of the fund’s net assets would beinvested in Focus Stocks. It invests the majority of its assets in U.S. companies, but also may invest up to 33% of its total assetsin foreign companies in developed markets (for example, Japan, Canada and the United Kingdom) and in emerging markets.





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Columbia Acorn International Fund Class Y Shares

VRS Code: 89738


Fund Strategy: The fund invests at least 75% of its net assets in foreign companies in developed markets (for example, Japan,Canada and the United Kingdom) and in emerging markets (for example, China, India and Brazil). It invests a majority of its netassets in the common stock of small- and mid-sized companies with market capitalizations under $10 billion at the time ofinitial investment and (ii) may also invest in companies with market capitalizations above $10 billion, provided that immediatelyafter that investment a majority of the fund’s net assets would be invested in Focus Stocks.

Fund Risk: Foreign securities are subject to interest-rate, currency-exchange-rate, economic, and political risks, all of whichmay be magnified in emerging markets. Growth stocks can perform differently from the market as a whole and can be morevolatile than other types of stocks. The securities of smaller, less well-known companies can be more volatile than those oflarger companies. Stock markets are volatile and can decline significantly in response to adverse issuer, political, regulatory,market, economic or other developments. Additional risk information for this product may be found in the prospectus or otherproduct materials, if available.


Who may want to invest:● Someone who is seeking to complement a portfolio of domestic investments with international investments in smaller

companies, which can behave differently.

● Someone who is willing to accept the higher degree of risk associated both with investing overseas and with investing insmaller companies.




Columbia Balanced Fund Class Y Shares

VRS Code: 89949

Fund Objective: The investment seeks high total return by investing in common stocks and debt securities.

Fund Strategy: Under normal circumstances, the fund invests in a mix of equity and debt securities. Its assets are allocatedamong equity and debt securities (which include cash and cash equivalents) based on an assessment of the relative risks andreturns of each asset class. The fund generally will invest between 35% and 65% of its net assets in each asset class, and in anyevent will invest at least 25% and no more than 75% of its net assets in each asset class under normal circumstances.





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Columbia Mid Cap Value Fund Class Y

VRS Code: 71526


Fund Strategy: Under normal circumstances, the fund invests at least 80% of its net assets (including the amount of anyborrowings for investment purposes) in equity securities of companies that have market capitalizations in the range of thecompanies in the Russell Midcap Value Index (the index) at the time of purchase that the fund’s investment manager believesare undervalued and have the potential for long-term growth. It may invest up to 20% of its total assets in foreign securities.The fund normally invests in common stocks and also may invest in real estate investment trusts.

Fund Risk: Value stocks can perform differently than other types of stocks and can continue to be undervalued by the marketfor long periods of time. The securities of smaller, less well-known companies can be more volatile than those of largercompanies. Stock markets are volatile and can decline significantly in response to adverse issuer, political, regulatory, market,economic or other developments. These risks may be magnified in foreign markets. Additional risk information for this productmay be found in the prospectus or other product materials, if available.



● Someone who is comfortable with value-style investments and the potentially greater volatility of investments in smallercompanies.



● The Russell Midcap® Value Index is an unmanaged market capitalization-weighted index of medium-capitalization value-oriented stocks of U.S. domiciled companies that are included in the Russell Midcap Index. Value-oriented stocks tend tohave lower price-to-book ratios and lower forecasted growth values.


Columbia Overseas Value Fund Class Z

VRS Code: 64090


Fund Strategy: Under normal circumstances, the fund invests at least 80% of total assets (including the amount of anyborrowings for investment purposes) in equity securities of foreign companies that have market capitalizations of more than $1billion at the time of purchase. It typically invests in foreign companies in at least three countries, other than the United States,at any one time and may invest in emerging markets. The fund may invest directly in foreign securities or indirectly throughclosed-end investment companies and depositary receipts.

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Fund Risk: Foreign securities are subject to interest-rate, currency-exchange-rate, economic, and political risks, all of whichmay be magnified in emerging markets. Value stocks can perform differently than other types of stocks and can continue to beundervalued by the market for long periods of time. Stock markets are volatile and can decline significantly in response toadverse issuer, political, regulatory, market, economic or other developments. Additional risk information for this product maybe found in the prospectus or other product materials, if available.



behave differently.




Deutsche CROCI® U.S. Fund Class S

VRS Code: 58359


Fund Strategy: The fund invests at least 80% of net assets, plus the amount of any borrowings for investment purposes, incommon stocks issued by U.S. companies. Portfolio management will select stocks from among the largest U.S. companieswhich are under CROCI (Reg. TM) coverage at any given time. Approximately 40 companies are identified from the selectionuniverse for investment, though, at times, the number of stocks held may be higher or lower than 40 stocks at the discretion ofportfolio management or as a result of corporate actions, mergers or other events. The fund may lend securities to approvedinstitutions.







DFA Emerging Markets Portfolio Institutional Class

VRS Code: 48902

Fund Objective: The investment seeks to achieve long-term capital appreciation.

Fund Strategy: The Portfolio is a Feeder Portfolio and pursues its objective by investing substantially all of its assets in itscorresponding master fund, the Emerging Markets Series (the "Emerging Markets Series") of the DFA Investment TrustCompany (the "Trust"), which has the same investment objective and policies as the Portfolio. As a non-fundamental policy,under normal circumstances, it will invest at least 80% of its net assets in emerging markets investments that are defined in theProspectus as Approved Market securities.



Who may want to invest:● Someone who is willing to accept the higher degree of risk associated with investing in emerging markets.

● Someone who is seeking to complement a portfolio of domestic investments and/or international investments in developedcountries with investments in developing countries, which can behave differently.



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Eaton Vance Large-Cap Value Fund Class I

VRS Code: 18175

Fund Objective: The investment seeks total return.

Fund Strategy: Under normal market conditions, the fund invests at least 80% of its net assets (plus any borrowings forinvestment purposes) in equity securities of large-cap companies (the "80% Policy"). The portfolio managers generally considerlarge-cap companies to be those companies having market capitalizations within the range of companies included in theRussell 1000® Value Index, although the portfolio will generally consist of stocks with a market capitalization equal to orgreater than the median market capitalization of companies included in such index.







● The Russell 1000 Value Index is an unmanaged market capitalization-weighted index of value-oriented stocks of the largestU.S. domiciled companies that are included in the Russell 1000 Index. Value-oriented stocks tend to have lower price-to-bookratios and lower forecasted growth values.



VRS Code: 02173

Fund Objective: Seeks high total return until its target retirement date. Thereafter the fund’s objective will be to seek highcurrent income and, as a secondary objective, capital appreciation.

Fund Strategy: Designed for investors who anticipate retiring in or within a few years of the fund’s target retirement year at oraround age 65 and plan to gradually withdraw the value of their account in the fund over time. Investing in a combination ofFidelity domestic equity funds, international equity funds (developed and emerging markets), bond funds, and short-termfunds (underlying Fidelity funds). Allocating assets among underlying Fidelity funds according to a "neutral" asset allocationstrategy that becomes increasingly conservative until it reaches an allocation similar to that of the Freedom K Income Fund -approximately 17% in domestic equity funds, 7% in international equity funds, 46% in bond funds, and 30% in short-term funds(approximately 10 to 19 years after the target year). Ultimately, the fund will merge with the Freedom K Income Fund. Throughan active asset allocation strategy, the Adviser may increase or decrease neutral asset class exposures by up to 10 percentagepoints for equity (includes domestic and international equity funds), bond and short-term funds to reflect the Adviser’s marketoutlook, which is primarily focused on the intermediate term. The Adviser may also make active asset allocations within otherasset classes (including commodities, high yield debt, floating rate debt, real estate debt, inflation-protected debt, andemerging markets debt) from 0% to 10% individually but no more than 25% in aggregate within those other asset classes. TheAdviser may continue to seek high total return for several years beyond the fund’s target retirement date in an effort to achievethe fund’s overall investment objective.

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Fund Risk: The investment risk of each Fidelity Freedom K Fund changes over time as its asset allocation changes. These risksare subject to the asset allocation decisions of the Investment Adviser. Pursuant to the Adviser’s ability to use an active assetallocation strategy, investors may be subject to a different risk profile compared to the fund’s neutral asset allocation strategyshown in its glide path. The funds are subject to the volatility of the financial markets, including that of equity and fixedincome investments in the U.S. and abroad, and may be subject to risks associated with investing in high-yield, small-cap,commodity-linked, and foreign securities. No target date fund is considered a complete retirement program and there is noguarantee any single fund will provide sufficient retirement income at or through retirement. Principal invested is notguaranteed at any time, including at or after the funds’ target dates.


Who may want to invest:● Someone who is seeking an investment option intended for people in or very near retirement and who is willing to accept the

volatility of diversified investments in the market.

● Someone who is seeking a diversified mix of stocks, bonds, and short-term investments in one investment option or whodoes not feel comfortable making asset allocation choices over time.




VRS Code: 02174










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VRS Code: 02175











VRS Code: 02176



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Who may want to invest:● Someone who is seeking an investment option that gradually becomes more conservative over time and who is willing to

accept the volatility of the markets.





VRS Code: 02177










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VRS Code: 02178











VRS Code: 02179



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VRS Code: 02180










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VRS Code: 02181











VRS Code: 02182



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VRS Code: 02332










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VRS Code: 02713










Fidelity Freedom K® Income Fund

VRS Code: 02171

Fund Objective: Seeks high current income and, as a secondary objective, capital appreciation.

Fund Strategy: Investing in a combination of Fidelity domestic equity funds, international equity funds (developed andemerging markets), bond funds, and short-term funds (underlying Fidelity funds). Allocating assets among underlying Fidelityfunds according to a stable "neutral" asset allocation strategy of approximately 17% in domestic equity funds, 7% ininternational equity funds, 46% in bond funds, and 30% in short-term funds. Through an active asset allocation strategy, theAdviser may increase or decrease neutral asset class exposures by up to 10 percentage points for equity (includes domesticand international equity funds), bond and short-term funds to reflect the Adviser’s market outlook, which is primarily focusedon the intermediate term. The Adviser may also make active asset allocations within other asset classes (includingcommodities, high yield debt, floating rate debt, real estate debt, inflation-protected debt, and emerging markets debt) from0% to 10% individually but no more than 25% in aggregate within those other asset classes.

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Fund Risk: The fund is subject to risks resulting from the asset allocation decisions of the Investment Adviser. Pursuant to theAdviser’s ability to use an active asset allocation strategy, investors may be subject to a different risk profile compared to thefund’s neutral asset allocation strategy shown in its glide path. The fund is subject to the volatility of the financial markets,including that of equity and fixed income investments. Fixed income investments entail issuer default and credit risk, inflationrisk, and interest rate risk (as interest rates rise, bond prices usually fall and vice versa). This effect is usually more pronouncedfor longer-term securities. No target date fund is considered a complete retirement program and there is no guarantee anysingle fund will provide sufficient retirement income at or through retirement. Principal invested is not guaranteed at any time,including at or after the funds’ target dates.


Who may want to invest:● Someone who is seeking an investment option intended for people in retirement and who is willing to accept the volatility of

diversified investments in the market.

● Someone who is seeking a diversified mix of stocks, bonds, and short-term investments in one investment option and lookingprimarily for the potential for income and, secondarily, for share-price appreciation.



Fidelity® 500 Index Fund - Institutional Class

VRS Code: 02327

Fund Objective: Seeks to provide investment results that correspond to the total return (i.e., the combination of capitalchanges and income) performance of common stocks publicly traded in the United States.

Fund Strategy: Normally investing at least 80% of assets in common stocks included in the S&P 500 Index, which broadlyrepresents the performance of common stocks publicly traded in the United States.

Fund Risk: Stock markets, especially foreign markets, are volatile and can decline significantly in response to adverse issuer,political, regulatory, market, or economic developments.






● The S&P 500 Index is a market capitalization-weighted index of 500 common stocks chosen for market size, liquidity, andindustry group representation to represent U.S. equity performance.

● Returns prior to May 4, 2011 are those of the Premium Class and reflect the Premium Class’ expense ratio. Had theInstitutional Class’ expense ratio been reflected, total returns would have been higher.

Fidelity® Contrafund® - Class K

VRS Code: 02080

Fund Objective: Seeks capital appreciation.

Fund Strategy: Investing in securities of companies whose value FMR believes is not fully recognized by the public. Investingin either ’growth’ stocks or ’value’ stocks or both. Normally investing primarily in common stocks.

Fund Risk: The value of the fund’s domestic and foreign investments will vary from day to day in response to many factors.Stock values fluctuate in response to the activities of individual companies, and general market and economic conditions.Investments in foreign securities involve greater risk than U.S. investments. You may have a gain or loss when you sell yourshares.




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● On May 9, 2008, an initial offering of the retirement (K) class took place. Returns and expenses prior to that date are those ofthe non-K, non-advisor class. Had K class expenses been reflected in the returns shown, total returns would have been higher.

Fidelity® Focused Stock Fund

VRS Code: 00333

Fund Objective: Seeks capital growth.

Fund Strategy: Normally investing at least 80% of its assets in stocks. Normally investing in 30-80 stocks. Investing in either"growth" stocks or "value" stocks or both. Normally investing primarily in common stocks.

Fund Risk: Stock markets, especially foreign markets, are volatile and can decline significantly in response to adverse issuer,political, regulatory, market, or economic developments. Foreign securities are subject to interest rate, currency exchangerate, economic, and political risks. The fund may have additional volatility because it can invest a significant portion of assets insecurities of a small number of individual issuers.






Fidelity® Global ex U.S. Index Fund - Premium Class

VRS Code: 02346

Fund Objective: The fund seeks to provide investment results that correspond to the total return of foreign developed andemerging stock markets.

Fund Strategy: Normally investing at least 80% of assets in securities included in the MSCI ACWI (All Country World Index) exUSA Index and in depository receipts representing securities included in the index. Using statistical sampling techniques basedon such factors as capitalization, industry exposures, dividend yield, price/earnings ratio, price/book ratio, earnings growth,country weightings, and the effect of foreign taxes to attempt to replicate the returns of the MSCI ACWI ex USA Index.Lending securities to earn income for the fund.

Fund Risk: Stock markets, especially foreign markets, are volatile and can decline significantly in response to adverse issuer,political, regulatory, market, or economic developments. Foreign securities are subject to interest rate, currency exchange rate,economic, and political risks, all of which are magnified in emerging markets.



behave differently.




● The MSCI All Country World Ex-US Index is a recognized benchmark of non-U.S. stock markets. It is an unmanaged marketvalue-weighted index composed of a sample of companies representative of the market structure of 49 countries andincludes reinvestment of all dividends. The MSCI AC World Ex-US Index, when including or excluding securities, takes intoaccount any limitations that an international investor would experience when investing directly in such securities. The indexcontains both developed and emerging market securities.

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Fidelity® Investments Money Market Government Portfolio - Institutional Class

VRS Code: 02642

Fund Objective: Seeks to obtain as high a level of current income as is consistent with the preservation of principal andliquidity within the limitations prescribed for the fund.

Fund Strategy: The Adviser normally invests at least 99.5% of the fund’s total assets in cash, U.S. Government securities and/orrepurchase agreements that are collateralized fully (i.e., collateralized by cash or government securities). Certain issuers of U.S.Government securities are sponsored or chartered by Congress but their securities are neither issued nor guaranteed by theU.S. Treasury. Investing in compliance with industry-standard regulatory requirements for money market funds for the quality,maturity, liquidity and diversification of investments. The Adviser stresses maintaining a stable $1.00 share price, liquidity, andincome. In addition the Adviser normally invests at least 80% of the fund’s assets in U.S. Government securities and repurchaseagreements for those securities.

Fund Risk: You could lose money by investing in the fund. Although the fund seeks to preserve the value of your investment at$1.00 per share, it cannot guarantee it will do so. An investment in the fund is not insured or guaranteed by the FederalDeposit Insurance Corporation or any other government agency. Fidelity Investments and its affiliates, the fund’s sponsor, haveno legal obligation to provide financial support to the fund, and you should not expect that the sponsor will provide financialsupport to the fund at any time. The fund will not impose a fee upon the sale of your shares, nor temporarily suspend yourability to sell shares if the fund’s weekly liquid assets fall below 30% of its total assets because of market conditions or otherfactors. Interest rate increases can cause the price of a money market security to decrease. A decline in the credit quality of anissuer or a provider of credit support or a maturity-shortening structure for a security can cause the price of a money marketsecurity to decrease.


Who may want to invest:● Someone who has a low tolerance for investment risk and who wishes to keep the value of his or her investment relatively

stable.

● Someone who is seeking to complement his or her bond and stock fund holdings in order to reach a particular assetallocation.



● Initial offering of the Fidelity® Institutional Money Market Government Portfolio - Institutional Class took place on May 14,2014. Returns and expenses prior to that date are those of the Fidelity® Institutional Money Market Government Portfolio -Class I. Had Fidelity® Institutional Money Market Government Portfolio - Institutional Class expenses been reflected in thereturns shown, total returns would have been higher.

● Fidelity is voluntarily reimbursing a portion of the fund’s expenses. If Fidelity had not, the returns would have been lower.

Fidelity® New Markets Income Fund

VRS Code: 00331

Fund Objective: Seeks high current income. As a secondary objective, the fund seeks capital appreciation.

Fund Strategy: Normally investing at least 80% of assets in securities of issuers in emerging markets and other investmentsthat are tied economically to emerging markets. Normally investing primarily in debt securities of issues in emerging markets.Potentially investing in other types of securities, including equity securities of emerging market issuers, debt securities of non-emerging market foreign issuers, and lower quality debt securities of U.S. issuers.

Fund Risk: Fixed income investments entail interest rate risk (as interest rates rise bond prices usually fall), the risk of issuerdefault, issuer credit risk and inflation risk. Stock markets, especially foreign markets, are volatile and can decline significantlyin response to adverse issuer, political, regulatory, market, or economic developments. Foreign securities are subject tointerest rate, currency exchange rate, economic, and political risks, all of which are magnified in emerging markets. Lower-quality bonds can be more volatile and have greater risk of default than higher-quality bonds. The fund may have additionalvolatility because it can invest a significant portion of assets in securities of a small number of individual issuers.

Fund short term trading fees: This fund has a Short-term Redemption Fee of 1.00% for fee eligible shares held less than 90days.


price.


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Invesco Comstock Fund Class R6

VRS Code: 89385

Fund Objective: The investment seeks total return through growth of capital and current income.

Fund Strategy: The fund invests, under normal circumstances, at least 80% of its net assets (plus any borrowings forinvestment purposes) in common stocks, and in derivatives and other instruments that have economic characteristics similar tosuch securities. It may invest in securities of issuers of any market capitalization; however, a substantial number of the issuers inwhich the fund invests are large-capitalization issuers. The fund may invest up to 10% of its net assets in real estate investmenttrusts (REITs).








Invesco Growth and Income Fund Class Y

VRS Code: 42488

Fund Objective: The investment seeks total return through growth of capital and current income.

Fund Strategy: Under normal market conditions, the fund’s investment adviser seeks to achieve the fund’s investmentobjective by investing primarily in income-producing equity securities, which include common stocks and convertiblesecurities. It may invest in securities of issuers of all capitalization sizes; however, a substantial number of the issuers in whichthe fund invests are large-capitalization issuers. The fund may invest up to 25% of its net assets in securities of foreign issuers,which may include depositary receipts.








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Invesco Mid Cap Core Equity Fund Class R6

VRS Code: 91041


Fund Strategy: The fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in equity securitiesof mid-capitalization companies, and in derivatives and other instruments that have economic characteristics similar to suchsecurities. The principal type of equity security in which the fund invests is common stock. The fund’s manager considers anissuer to be a mid-capitalization issuer if it has a market capitalization, at the time of purchase, within the range of the largestand smallest capitalized issuers included in the Russell Midcap® Index.

Fund Risk: Value and growth stocks can perform differently from other types of stocks. Growth stocks can be more volatile.Value stocks can continue to be undervalued by the market for long periods of time. The securities of smaller, less well-knowncompanies can be more volatile than those of larger companies. Stock markets are volatile and can decline significantly inresponse to adverse issuer, political, regulatory, market, economic or other developments. These risks may be magnified inforeign markets. Additional risk information for this product may be found in the prospectus or other product materials, ifavailable.



● Someone who is seeking both growth- and value-style investments and who is willing to accept the generally greater volatilityof investments in smaller companies.





Janus Balanced Fund Class I

VRS Code: 85082

Fund Objective: The investment seeks long-term capital growth, consistent with preservation of capital and balanced bycurrent income.

Fund Strategy: The fund pursues its investment objective by normally investing 35-65% of its assets in equity securities andthe remaining assets in fixed-income securities and cash equivalents. It normally invests at least 25% of its assets in fixed-income senior securities. The fund’s fixed-income investments may reflect a broad range of credit qualities and may includecorporate debt securities, U.S. government obligations, mortgage-backed securities and other mortgage-related products,and short-term securities.





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Janus Overseas Fund Class N

VRS Code: 26510


Fund Strategy: The fund pursues its investment objective by investing, under normal circumstances, at least 80% of its netassets in securities of issuers or companies from countries outside of the United States. It also may normally invest up to 20% ofits net assets, measured at the time of purchase, in U.S. issuers, and it may, under unusual circumstances, invest all orsubstantially all of its assets in a single country. The fund may have significant exposure to emerging markets. It may also investin U.S. and foreign debt securities.




behave differently.





John Hancock Funds Disciplined Value Mid Cap Fund Class I

VRS Code: 79301

Fund Objective: The investment seeks long-term growth of capital with current income as a secondary objective.

Fund Strategy: Under normal circumstances, the fund seeks to achieve its investment objectives by investing at least 80% ofits net assets (including borrowings for investment purposes) in a diversified portfolio consisting primarily of equity securities,such as common stocks, of issuers with medium market capitalizations, and identified by the manager as having valuecharacteristics. It may also invest up to 20% of its total assets in foreign currency-denominated securities.





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Loomis Sayles Small Cap Growth Fund Institutional Class

VRS Code: 77346


Fund Strategy: The fund normally will invest at least 80% of its net assets (plus any borrowings made for investment purposes)in the equity securities of "small-cap companies," including preferred stocks, warrants, securities convertible into common orpreferred stocks and other equity-like interests in an entity. Currently, the manager defines a small-cap company to be onewhose market capitalization either falls within the capitalization range of the Russell 2000® Index, an index that tracks stocks of2,000 of the smallest U.S. companies, or is $3 billion or less at the time of investment.







● The Russell 2000 Index is an unmanaged market capitalization-weighted index of 2,000 small company stocks of U.S.domiciled companies.

Morgan Stanley Institutional Fund Trust Mid Cap Growth Portfolio Class I

VRS Code: 93586


Fund Strategy: Under normal circumstances, at least 80% of the Portfolio’s assets will be invested in common stocks of midcap companies. The Portfolio’s "Adviser," Morgan Stanley Investment Management Inc., seeks long-term capital growth byinvesting primarily in established and emerging companies with capitalizations within the range of companies included in theRussell Midcap® Growth Index, which as of December 31, 2016 was between $175 million and $54.2 billion.







● The Russell Midcap Growth Index is an unmanaged market capitalization-weighted index of medium-capitalization growth-oriented stocks of U.S. domiciled companies that are included in the Russell Midcap Index. Growth-oriented stocks tend tohave higher price-to-book ratios and higher forecasted growth values.

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Morgan Stanley Institutional Fund, Inc. Emerging Markets Portfolio Class I

VRS Code: 99471


Fund Strategy: The fund seeks to maximize returns by investing primarily in growth-oriented equity securities in emergingmarkets. Under normal circumstances, at least 80% of the fund’s assets will be invested in equity securities of issuers located inemerging market countries. It may, but it is not required to, use derivative instruments for a variety of purposes, includinghedging, risk management, portfolio management or to earn income. The fund’s use of derivatives may involve the purchaseand sale of derivative instruments such as futures and other related instruments and techniques.


Fund short term trading fees: This fund has a Short-term Redemption Fee of 2% for fee eligible shares held less than 30 days.





Morgan Stanley Institutional Fund, Inc. International Equity Portfolio Class IS

VRS Code: 71528

Fund Objective: The investment seeks long-term capital appreciation by investing primarily in equity securities of non-U.S.issuers.

Fund Strategy: Under normal circumstances, at least 80% of the Portfolio’s assets will be invested in equity securities. ThePortfolio may, but it is not required to, use derivative instruments for a variety of purposes, including hedging, riskmanagement, portfolio management or to earn income.


Fund short term trading fees: This fund has a Short-term Redemption Fee of 2.00% for shares held less than 30 days.


behave differently.





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Neuberger Berman Genesis Fund Institutional Class

VRS Code: 45418

Fund Objective: The investment seeks growth of capital.

Fund Strategy: The fund invests mainly in common stocks of small-capitalization companies, which it defines as those with atotal market value of no more than $2 billion at the time the fund first invests in them. It may continue to hold or add to aposition in a stock after the company’s market value has grown beyond $2 billion. The fund seeks to reduce risk by diversifyingamong many companies and industries.








Neuberger Berman Guardian Fund Class Investor

VRS Code: 94913

Fund Objective: The investment seeks long-term growth of capital; current income is a secondary goal.

Fund Strategy: The fund invests mainly in common stocks of companies across all market capitalizations. The PortfolioManager employs a research driven approach to stock selection, with a long term perspective that combines both quantitativeanalysis and qualitative judgment. Although the fund invests primarily in domestic stocks, it may also invest in stocks of foreigncompanies.







Northern Small Cap Value Fund

VRS Code: 40796

Fund Objective: The investment seeks long-term capital appreciation; any income received is incidental to this objective.

Fund Strategy: The fund will invest at least 80% of its net assets in equity securities of small capitalization companies, whichare considered to be those whose market capitalization is within the range of the market capitalization of companies in theRussell 2000 Value Index. It may emphasize particular companies or market segments, such as financial services, in attemptingto achieve its investment objective. Many of the companies in which the fund invests retain their earnings to finance currentand future growth. These companies generally pay little or no dividends.

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Fund Risk: The securities of smaller, less well-known companies can be more volatile than those of larger companies. Valuestocks can perform differently than other types of stocks and can continue to be undervalued by the market for long periods oftime. Stock markets are volatile and can decline significantly in response to adverse issuer, political, regulatory, market,economic or other developments. These risks may be magnified in foreign markets. Additional risk information for this productmay be found in the prospectus or other product materials, if available.






● The Russell 2000® Value Index is an unmanaged market capitalization-weighted index of value-oriented stocks of U.S.domiciled companies that are included in the Russell 2000 Index. Value-oriented stocks tend to have lower price-to-bookratios and lower forecasted growth values.

Perkins Mid Cap Value Fund Class I

VRS Code: 85101

Fund Objective: The investment seeks capital appreciation.

Fund Strategy: The fund primarily invests in the common stocks of mid-sized companies whose stock prices the portfoliomanagers believe to be undervalued. It invests at least 80% of its net assets (plus any borrowings for investment purposes) inequity securities of companies whose market capitalization falls, at the time of purchase, within the 12-month average of thecapitalization range of the Russell Midcap® Value Index. The fund may invest, under normal circumstances, up to 20% of its netassets in securities of companies having market capitalizations outside of the aforementioned market capitalization ranges.









Perkins Small Cap Value Fund Class I

VRS Code: 85934

Fund Objective: The investment seeks capital appreciation.

Fund Strategy: The fund pursues its investment objective by investing primarily in the common stocks of small companieswhose stock prices are believed to be undervalued by the fund’s portfolio managers. It invests, under normal circumstances, atleast 80% of its net assets (plus any borrowings for investment purposes) in equity securities of small companies whose marketcapitalization, at the time of initial purchase, is less than the 12-month average of the maximum market capitalization forcompanies included in the Russell 2000® Value Index. The fund may invest up to 20% of its net assets in cash or similarinvestments.

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Fund Risk: The securities of smaller, less well-known companies can be more volatile than those of larger companies. Valuestocks can perform differently than other types of stocks and can continue to be undervalued by the market for long periods oftime. Stock markets are volatile and can decline significantly in response to adverse issuer, political, regulatory, market,economic or other developments. These risks may be magnified in foreign markets. Additional risk information for this productmay be found in the prospectus or other product materials, if available.






● The Russell 2000® Value Index is an unmanaged market capitalization-weighted index of value-oriented stocks of U.S.domiciled companies that are included in the Russell 2000 Index. Value-oriented stocks tend to have lower price-to-bookratios and lower forecasted growth values.


PIMCO Total Return Fund Institutional Class

VRS Code: 99622

Fund Objective: The investment seeks maximum total return, consistent with preservation of capital and prudent investmentmanagement.

Fund Strategy: The fund invests at least 65% of its total assets in a diversified portfolio of Fixed Income Instruments of varyingmaturities, which may be represented by forwards or derivatives such as options, futures contracts, or swap agreements. Itinvests primarily in investment-grade debt securities, but may invest up to 20% of its total assets in high yield securities. It mayinvest up to 30% of its total assets in securities denominated in foreign currencies, and may invest beyond this limit in U.S.dollar-denominated securities of foreign issuers.




price.




T. Rowe Price Blue Chip Growth Fund

VRS Code: 93386

Fund Objective: The investment seeks long-term capital growth; income is a secondary objective.

Fund Strategy: The fund will normally invest at least 80% of its net assets (including any borrowings for investment purposes)in the common stocks of large- and medium-sized blue chip growth companies. It focuses on companies with leading marketpositions, seasoned management, and strong financial fundamentals. The fund may sell securities for a variety of reasons, suchas to secure gains, limit losses, or redeploy assets into more promising opportunities.

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T. Rowe Price Dividend Growth Fund

VRS Code: 93389

Fund Objective: The investment seeks dividend income and long-term capital growth primarily through investments in stocks.

Fund Strategy: The fund will normally invest at least 65% of its total assets in stocks, with an emphasis on stocks that have astrong track record of paying dividends or that are expected to increase their dividends over time. T. Rowe Price believes that atrack record of dividend increases can be an excellent indicator of financial health and growth prospects, and that over thelong term, income can contribute significantly to total return.







T. Rowe Price Equity Income Fund

VRS Code: 93434

Fund Objective: The investment seeks a high level of dividend income and long-term capital growth primarily throughinvestments in stocks.

Fund Strategy: The fund will normally invest at least 80% of its net assets (including any borrowings for investment purposes)in common stocks, with an emphasis on large-capitalization stocks that have a strong track record of paying dividends or thatare believed to be undervalued. The adviser generally seeks investments in large-capitalization companies and the fund’s yield,which reflects the level of dividends paid by the fund, is expected to normally exceed the yield of the S&P 500 Stock Index.







● The S&P 500 Index is a market capitalization-weighted index of 500 common stocks chosen for market size, liquidity, andindustry group representation to represent U.S. equity performance.

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T. Rowe Price Mid-Cap Growth Fund

VRS Code: 93387


Fund Strategy: The fund normally invests at least 80% of net assets (including any borrowings for investment purposes) in adiversified portfolio of common stocks of mid-cap companies whose earnings T. Rowe Price expects to grow at a faster ratethan the average company. The advisor defines mid-cap companies as those whose market capitalization falls within the rangeof either the S&P MidCap 400 Index or the Russell Midcap Growth Index. While most assets will typically be invested in U.S.common stocks, the fund may invest in foreign stocks in keeping with the fund’s objectives.







● The S&P® MidCap 400 Index is an unmanaged market capitalization-weighted index of 400 medium-capitalization stocks. The Russell Midcap® Growth Index is an unmanaged market capitalization-weighted index of medium-capitalizationgrowth-oriented stocks of U.S. domiciled companies that are included in the Russell Midcap Index. Growth-oriented stockstend to have higher price-to-book ratios and higher forecasted growth values.

T. Rowe Price Mid-Cap Value Fund

VRS Code: 45254


Fund Strategy: The fund will normally invest at least 80% of its net assets (including any borrowings for investment purposes)in companies whose market capitalization (number of shares outstanding multiplied by share price), at the time of purchase,falls within the range of the companies in either the S&P MidCap 400 Index or the Russell Midcap Value Index.








● The S&P® MidCap 400 Index is an unmanaged market capitalization-weighted index of 400 medium-capitalization stocks.

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T. Rowe Price Real Estate Fund

VRS Code: 40587

Fund Objective: The investment seeks long-term growth through a combination of capital appreciation and current income.

Fund Strategy: The fund normally invests at least 80% of its net assets (including any borrowings for investment purposes) inthe equity securities of real estate companies. It is likely to maintain a significant portion of assets in real estate investmenttrusts (REITs). REITs pool money to invest in properties (equity REITs) or mortgages (mortgage REITs). The fund generally investsin equity REITs.

Fund Risk: Real Estate is a cyclical industry that is sensitive to interest rates, economic conditions (both nationally and locally),property tax rates, and other factors. Changes in real estate values or economic downturns can have a significant negativeeffect on issuers in the real estate industry. Stock markets are volatile and can decline significantly in response to adverse issuer,political, regulatory, market, economic or other developments. These risks may be magnified in foreign markets. Sector fundscan be more volatile because of their narrow concentration in a specific industry. In general the bond market is volatile, andfixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usuallymore pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks forboth issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding lossescaused by price volatility by holding them until maturity is not possible. Additional risk information for this product may befound in the prospectus or other product materials, if available.

Fund short term trading fees: This fund has a Short-term Redemption Fee of 1% for fee eligible shares held less than 90 days.

Who may want to invest:● Someone who is willing to accept the potentially lower diversification and higher risks associated with investing in a particular

industry or sector.

● Someone who is seeking to complement his or her core holdings with investments concentrated in a particular sector orindustry.



Templeton Global Bond Fund Class R6

VRS Code: 92791

Fund Objective: The investment seeks current income with capital appreciation and growth of income.

Fund Strategy: Under normal market conditions, the fund invests at least 80% of its net assets in "bonds." Bonds include debtobligations of any maturity, such as bonds, notes, bills and debentures. It invests predominantly in bonds issued bygovernments, government-related entities and government agencies located around the world. The fund may invest up to 25%of its total assets in bonds that are rated below investment grade or, if unrated determined by the investment manager to be ofcomparable quality. It is non-diversified.

Fund Risk: Foreign securities are subject to interest-rate, currency-exchange-rate, economic, and political risks, all of whichmay be magnified in emerging markets. The fund may invest in lower-quality debt securities that involve greater risk of defaultor price changes due to potential changes in the credit quality of the issuer. In general the bond market is volatile, and fixedincome securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usuallymore pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks forboth issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding lossescaused by price volatility by holding them until maturity is not possible. Additional risk information for this product may befound in the prospectus or other product materials, if available.



price.


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Vanguard Long-Term Bond Index Fund Investor Shares

VRS Code: 45467

Fund Objective: The investment seeks to track the performance of a market-weighted bond index with a long-term dollar-weighted average maturity.

Fund Strategy: The fund employs an indexing investment approach designed to track the performance of the BloombergBarclays U.S. Long Government/Credit Float Adjusted Index. This index includes all medium and larger issues of U.S.government, investment-grade corporate, and investment-grade international dollar-denominated bonds that have maturitiesof greater than 10 years and are publicly issued. All of its investments will be selected through the sampling process, and atleast 80% of the fund’s assets will be invested in bonds held in the index.




price.

● Someone who is seeking to diversify an equity portfolio but who can tolerate higher risk.



● The Bloomberg Barclays U.S. Long Government/Credit Float Adjusted Index is an index that includes all medium and largerissues of U.S. government, investment-grade corporate, and investment-grade international dollar-denominated bonds thathave maturities of greater than 10 years and are publicly issued.

● Weighted average maturity (WAM) is the weighted average of all the maturities of the securities held in a fund. WAM formoney market funds can be used as a measure of sensitivity to interest rate changes. Generally, the longer the maturity, thegreater the sensitivity. WAM for money market funds is based on the dollar-weighted average length of time until principalpayments must be paid, taking into account any call options exercised by the issuer and any permissible maturity shorteningdevices, such as demand features and interest rate resets. For bond funds, WAM can be used as a measure of sensitivity tothe markets. Generally, the longer the maturity, the greater the sensitivity. The WAM calculation for bond funds excludesinterest rate resets and only takes into account issuer call options if it is probable that the issuer of the instrument will takeadvantage of such options.

Vanguard Mid-Cap Index Fund Admiral Shares

VRS Code: 45374

Fund Objective: The investment seeks to track the performance of a benchmark index that measures the investment return ofmid-capitalization stocks.

Fund Strategy: The fund employs an indexing investment approach designed to track the performance of the CRSP US MidCap Index, a broadly diversified index of stocks of mid-size U.S. companies. The advisor attempts to replicate the target indexby investing all, or substantially all, of its assets in the stocks that make up the index, holding each stock in approximately thesame proportion as its weighting in the index.

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● The CRSP US Mid Cap Index targets inclusion of the U.S. companies that fall between the top 70%-85% of investable marketcapitalization.


Vanguard REIT Index Fund Admiral Shares

VRS Code: 45379

Fund Objective: The investment seeks to provide a high level of income and moderate long-term capital appreciation bytracking the performance of a benchmark index that measures the performance of publicly traded equity REITs.

Fund Strategy: The fund employs an indexing investment approach designed to track the performance of the MSCI US REITIndex. The index is composed of stocks of publicly traded equity real estate investment trusts (known as REITs). The adviserattempts to replicate the index by investing all, or substantially all, of its assets in the stocks that make up the index, holdingeach stock in approximately the same proportion as its weighting in the index.

Fund Risk: Real Estate is a cyclical industry that is sensitive to interest rates, economic conditions (both nationally and locally),property tax rates, and other factors. Changes in real estate values or economic downturns can have a significant negativeeffect on issuers in the real estate industry. Stock markets are volatile and can decline significantly in response to adverse issuer,political, regulatory, market, economic or other developments. These risks may be magnified in foreign markets. Sector fundscan be more volatile because of their narrow concentration in a specific industry. In general the bond market is volatile, andfixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usuallymore pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks forboth issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding lossescaused by price volatility by holding them until maturity is not possible. Additional risk information for this product may befound in the prospectus or other product materials, if available.


Who may want to invest:● Someone who is willing to accept the potentially lower diversification and higher risks associated with investing in a particular

industry or sector.

● Someone who is seeking to complement his or her core holdings with investments concentrated in a particular sector orindustry.

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● The MSCI US REIT Index is a free float-adjusted market capitalization weighted index that is comprised of equity REITs thatare included in the MSCI US Investable Market 2500 Index, with the exception of specialty equity REITs that do not generate amajority of their revenue and income from real estate rental and leasing operations. The index represents approximately 85%of the US REIT universe.


Vanguard Short-Term Bond Index Fund Admiral Shares

VRS Code: 45442

Fund Objective: The investment seeks to track the performance of a market-weighted bond index with a short-term dollar-weighted average maturity.

Fund Strategy: The fund employs an indexing investment approach designed to track the performance of the BloombergBarclays U.S. 1-5 Year Government/Credit Float Adjusted Index. This index includes all medium and larger issues of U.S.government, investment-grade corporate, and investment-grade international dollar-denominated bonds that have maturitiesbetween 1 and 5 years and are publicly issued. All of its investments will be selected through the sampling process, and at least80% of its assets will be invested in bonds held in the index.




price.




● The Bloomberg Barclays U.S. Government/Credit Float Adjusted 1-5 Year Bond Index includes all medium and larger issuesof U.S. government, investment-grade corporate, and investment-grade international dollar-denominated bonds that havematurities between 1 and 5 years and are publicly issued.

● Weighted average maturity (WAM) is the weighted average of all the maturities of the securities held in a fund. WAM formoney market funds can be used as a measure of sensitivity to interest rate changes. Generally, the longer the maturity, thegreater the sensitivity. WAM for money market funds is based on the dollar-weighted average length of time until principalpayments must be paid, taking into account any call options exercised by the issuer and any permissible maturity shorteningdevices, such as demand features and interest rate resets. For bond funds, WAM can be used as a measure of sensitivity tothe markets. Generally, the longer the maturity, the greater the sensitivity. The WAM calculation for bond funds excludesinterest rate resets and only takes into account issuer call options if it is probable that the issuer of the instrument will takeadvantage of such options.


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Vanguard Total International Stock Index Fund Admiral Shares

VRS Code: 95879

Fund Objective: The investment seeks to track the performance of a benchmark index that measures the investment return ofstocks issued by companies located in developed and emerging markets, excluding the United States.

Fund Strategy: The fund employs an indexing investment approach designed to track the performance of the FTSE Global AllCap ex US Index, a float-adjusted market-capitalization-weighted index designed to measure equity market performance ofcompanies located in developed and emerging markets, excluding the United States. The index includes approximately 5,800stocks of companies located in over 45 countries.




behave differently.





● The FTSE Global All Cap ex US Index is part of a range of indices designed to help US investors benchmark theirinternational investments. The index comprises large, mid and small cap stocks globally excluding the US.

Victory Sophus Emerging Markets Fund Class Y

VRS Code: 76308


Fund Strategy: The fund normally invests at least 80% of its net assets in securities of emerging market companies, which mayinclude common stocks, preferred stocks, or other securities convertible into common stock. The adviser generally defines anemerging market company as a company (1) that is organized under the laws of, or has its principal office in, an emergingmarket country; (2) that derives 50% or more of its revenue from goods produced, services performed, or sales made inemerging market countries; or (3) for which the principal securities market is located in an emerging market country.








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Wells Fargo C&B Mid Cap Value Fund - Class A

VRS Code: 79758

Fund Objective: The investment seeks maximum long-term total return consistent with minimizing risk to principal.

Fund Strategy: Under normal circumstances, the fund invests at least 80% of its net assets in equity securities of medium-capitalization companies. It invests principally in equity securities of medium-capitalization companies, which the managersdefine as securities of companies with market capitalization within the range of the Russell Midcap® Index at the time ofpurchase.









Wells Fargo Common Stock Fund - Class R6

VRS Code: 72190


Fund Strategy: The fund normally invests at least 80% of its net assets in common stocks; and up to 25% of the fund’s totalassets in equity securities of foreign issuers, including ADRs and similar investments. It invests principally in common stocks ofsmall-and medium-capitalization domestic and foreign companies, which the managers define as those with marketcapitalizations falling within the ranges of the Russell 2000® Index and the Russell Midcap® Index at the time of purchase.





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● The Russell 2000® Index is an unmanaged market capitalization-weighted index of 2,000 small company stocks of U.S.domiciled companies.



Wells Fargo Core Plus Bond Fund Class A

VRS Code: 77204

Fund Objective: The investment seeks total return, consisting of current income and capital appreciation.

Fund Strategy: The fund normally invests at least 80% of its net assets in debt securities. It invests up to 35% of its total assetsin debt securities that are below investment-grade and up to 25% of its total assets in debt securities of foreign issuers,including emerging markets issuers and debt securities denominated in foreign currencies. The fund invests principally in debtsecurities, including corporate, mortgage- and asset-backed securities, bank loans, foreign sovereign debt, supranationalagencies, and U.S. government obligations.




price.




Wells Fargo Discovery Fund - Class R6

VRS Code: 93964


Fund Strategy: The fund normally invests at least 80% of its net assets in equity securities of small- and medium-capitalizationcompanies; and up to 25% of the fund’s total assets in equity securities of foreign issuers through ADRs and similarinvestments. It invests in equity securities of small- and medium-capitalization companies that the managers believe offerfavorable opportunities for growth. The fund may also invest in equity securities of foreign issuers through ADRs and similarinvestments.





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Wells Fargo High Yield Bond Fund - Class A

VRS Code: 79862

Fund Objective: The investment seeks total return, consisting of a high level of current income and capital appreciation.

Fund Strategy: The fund invests at least 80% of its net assets in debt securities that are below-investment grade. It investsprincipally in below investment-grade debt securities (often called "high yield" securities or "junk bonds") of corporate issuers.The advisor does not manage the fund’s portfolio to a specific maturity or duration. Securities in the fund’s portfolio may beissued by domestic or foreign issuers (including foreign governments), and may include securities of emerging markets issuers.

Fund Risk: The fund may invest in lower-quality debt securities that involve greater risk of default or price changes due topotential changes in the credit quality of the issuer. In general the bond market is volatile, and fixed income securities carryinterest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced forlonger-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers andcounterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by pricevolatility by holding them until maturity is not possible. Additional risk information for this product may be found in theprospectus or other product materials, if available.


Who may want to invest:● Someone interested in a bond fund that provides the potential for both current income and share-price appreciation.

● Someone who is seeking to complement his or her core bond holdings with a bond investment that seeks higher returns fromriskier bonds, and who can tolerate higher risk.




Wells Fargo Large Cap Growth Fund - Class R6

VRS Code: 72320


Fund Strategy: The fund invests at least 80% of its net assets in equity securities of large-capitalization companies and up to25% of its total assets in equity securities of foreign issuers, through ADRs and similar investments. It invests in equity securitiesof large-capitalization companies that the advisor believes have prospects for robust and sustainable growth of revenues andearnings. The managers define large-capitalization companies as those with market capitalizations within the range of theRussell 1000® Index at the time of purchase.





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● The Russell 1000® Index is an unmanaged market capitalization-weighted index measuring the performance of the 1,000largest companies in the Russell 3000® Index and is an appropriate index for broad-based large-cap funds. The Russell3000® Index is an unmanaged market capitalization-weighted index that includes the 3,000 largest U.S. companiesrepresenting approximately 98 percent of the investable U.S. equity market.


Wells Fargo Small Cap Value Fund - Class Inst

VRS Code: 42927


Fund Strategy: Under normal circumstances, the fund invests: at least 80% of the fund’s net assets in equity securities of small-capitalization companies; and up to 30% of the fund’s total assets in equity securities of foreign issuers, including ADRs andsimilar investments. It invests principally in equity securities of small-capitalization companies, which the advisor defines ascompanies within the range of the Russell 2500TM Index at the time of purchase.

Fund Risk: The securities of smaller, less well-known companies can be more volatile than those of larger companies. Valueand growth stocks can perform differently from other types of stocks. Growth stocks can be more volatile. Value stocks cancontinue to be undervalued by the market for long periods of time. Stock markets are volatile and can decline significantly inresponse to adverse issuer, political, regulatory, market, economic or other developments. These risks may be magnified inforeign markets. Additional risk information for this product may be found in the prospectus or other product materials, ifavailable.






● The Russell 2500™ Index is an unmanaged market capitalization-weighted index measuring the performance of the 2,500smallest companies in the Russell 3000 Index.


Wells Fargo Special Mid Cap Value Fund - Class R6

VRS Code: 72322


Fund Strategy: The fund normally invests at least 80% of its net assets in equity securities of medium-capitalization companies.It invests principally in equity securities of medium-capitalization companies, which the managers define as securities ofcompanies with market capitalizations within the range of the Russell Midcap® Index at the time of purchase.

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Transfer/Rollover/Exchange Form Instructions

Reference the instructions below while completing the form. For additional assistance, please contact Fidelity Investments at 1-800-343-0860 or, for the hearing impaired, (TTY) 1-800-259-9743, Monday through Friday, 8 a.m. to midnight Eastern time (except for New York Stock Exchange holidays).

1. YOUR INFORMATION

Please provide your information in this section.

2. INVESTMENT PROVIDER YOU ARE MOVING MONEY FROM

Please review your most recent statement for this name and address, and include a copy of the statement with this form. Please contact your previous investment provider to see if additional paperwork is required.

3. ACCOUNT(S) OR CONTRACT(S) TO MOVE

Account or Contract Number: This number is available on your previous investment provider account statement. If you are unable to locate this number on your statement, please contact the Investment Provider. If you do not provide an account or contract number, we will use your Social Security number or U.S. Tax Identifi cation number to request the assets to be moved.

Type of Account or Contract: If you are unsure of the type of account or contract, please contact the previous investment provider or refer to your statement. Select at least one.

The Account or Contract Number above is from: Please see the descriptions below that relate to each of the four transactions. If you choose “A Previous Employer,” provide the name of that employer.

The Same Employer as my Employer Plan with Fidelity. Movement of assets from 403(b) to 403(b) will be requested as a vendor or contract exchange. Movement of money between the same plan types, excluding 403(b) plans (401(a) to 401(a), 401(k) to 401(k), 457(b) to 457(b)), will be requested as an in-plan transfer. Movement of money between different plan types will be requested as a Rollover.

A Previous Employer. For 403(b) and 401(a)/(k) plans, this is a Rollover transaction. For governmental 457(b) plans, this is a rollover unless Fidelity receives direction to process as a transfer.

A Rollover IRA. This is a Rollover transaction. After-tax value may not be rolled from an IRA.

A Traditional IRA or SEP IRA. This is a Rollover transaction. Roth IRAs and Coverdell IRAs cannot be accepted.

Liquidation Amount: Specify the amount of money you want moved to your Fidelity account. If you choose “Full Liquidation/ 100%,” Fidelity will request your full balance. If you choose “Partial Liquidation,” Fidelity will request the dollar amount or percent-age you specify. If you do not specify an amount, Fidelity will move/liquidate 100%. If you are moving 457(b) assets, please be aware that governmental 457(b) assets must be moved into a governmental 457(b) plan, and nongovernmental 457(b) assets must be moved into a nongovernmental 457(b) plan. Transfers from nongovernmental 457(b) plans are not provided for on this form. Talk with your plan sponsor or call Fidelity to discuss transfers from nongovernmental 457(b) plans. Rollovers from 403(b) plans, 401(a)/401(k) plans, and IRAs to governmental 457(b) plans must be recordkept in separate rollover sources to limit the distributions that may be subject to a 10% early distribution penalty.

4. YOUR FIDELITY ACCOUNT INFORMATION

If you do not have a retirement account with Fidelity for the employer listed here, you must complete the enroll-ment process. For help with enrollment, please contact Fidelity at 1-800-343-0860.

Employer sponsoring your Fidelity retirement account: The employer name appears on your Fidelity account statement or in your enrollment paperwork.

Plan Type with this employer: This information is required to ensure that Fidelity credits your assets to the proper account. Please contact Fidelity at 1-800-343-0860 or, for the hearing impaired, (TTY) 1-800-259-9743 if you do not know your type of account.

Plan Number: Please provide the Plan Number if you have multiple retirement plan accounts with Fidelity. Please contact Fidelity at 1-800-343-0860 to obtain the Plan Number.

00000000 00 00000 000 000000000

5. INVESTMENT INSTRUCTIONS

Would you like the assets invested in your current investment selection? If “Yes” is selected, your assets will be allocated to your current investment selection on fi le with Fidelity. If you do not select “Yes,” please list the fund names or fund codes (if known) and percentages. Please ensure that the percentages equal 100%. Please list additional funds on a separate page and attach it to this form.

Fund Name: List the Fund Name(s) you want your assets credited to.

Fund Code: Provide the four-digit Fund Code(s) (if known).

Percentage: Please ensure that the percentages listed equal 100%.

Note: If the funds selected are unclear, unavailable, or less than 100%, the percentages allocated to those funds and/or any unallocated percentage will be defaulted to the investment option specifi ed in the agreement currently in place with Fidelity for the Plan. If the percentages listed exceed 100%, the entire amount will be defaulted as described above.

6. EMPLOYER PLAN ACCEPTANCE

Employer Authorized Signature: An authorized signature from the employer that sponsors your Fidelity retirement account may be required. To verify if this section needs to be signed, contact your Human Resources offi ce or Fidelity at 1-800-343-0860 or, for the hearing impaired, (TTY) 1-800-259-9743.

7. YOUR SIGNATURE

Your Signature: Please read the legal information provided in this section and then sign the form. We are unable to process your request without your signature.

Transfer/Rollover/Exchange Form Checklist:

Here is a checklist to ensure that your request is in good order.

Please remember to:

Include your most recent account statement from the previous investment provider

Indicate the amount or percentage of money you are moving to Fidelity

Obtain the Employer Authorized Signature (contact your Human Resources offi ce or Fidelity to verify if this is required)

Sign in Section 7 of the form

Return this form in the enclosed postage-paid envelope OR

If you are sending this using an overnight delivery

Return to: service, please send to this address:

Fidelity Investments Fidelity Investments P.O. Box 770002 100 Crosby Parkway, Mailzone KC1E Cincinnati, OH 45277-0090 Covington, KY 41015

Please contact your previous investment provider to see if additional paperwork is required.

434261.2.0 1.780430.108

00000000 00 00000 000 000000000

Transfer/Rollover/Exchange FormInstructions: Use this form to move assets to your Fidelity employer-sponsored retirement account from a previous investment pro-vider. You may also use this form to consolidate multiple employer-sponsored retirement accounts currently at Fidelity. If you do not have a retirement account with Fidelity, you must also complete an Account Application/Enrollment Form or, when available, enroll online at www.mysavingsatwork.com. If your current employer does not offer a retirement plan record kept by Fidelity, your employer needs to establish a retirement plan prior to your vendor or contract exchange or rollover to a Fidelity account. An incomplete form may delay the processing of your request. Use a separate form for each investment provider.

Unless otherwise instructed by your employer, please return this vendor or contract exchange/rollover form in the postage-paid envelope provided OR

If you are sending this using an overnight delivery Return to: service, please send to this address: Fidelity Investments Fidelity Investments P.O. Box 770002 100 Crosby Parkway, Mailzone KC1E Cincinnati, OH 45277-0090 Covington, KY 41015

Questions? Call Fidelity Investments at 1-800-343-0860 or, for the hearing impaired, (TTY) 1-800-259-9743, Monday through Friday, 8 a.m. to midnight Eastern time (except for New York Stock Exchange holidays), for assistance with completing this form.

1. YOUR INFORMATIONPlease use a black pen and print clearly in CAPITAL LETTERS.

Social Security #: Date of Birth:

First Name:

Last Name:

Mailing Address:

City: State:

Zip:

Daytime Phone: Evening Phone:

E-mail:

2. INVESTMENT PROVIDER YOU ARE MOVING MONEY FROM

Name of investment provider you are moving money from:

Please include a copy of your most recent account statement from your investment provider.

Provider Street Address:

City: State:

Zip:

Provider Phone: Ext:

Please contact your previous investment provider to see if additional paperwork is required. Use a separate form for each investment provider.

(e.g., VALIC, TIAA-CREF, Vanguard, ING, Lincoln)

3. ACCOUNT(S) OR CONTRACT(S) TO MOVEPlease provide information about the account(s)/contract(s) you wish to move to Fidelity. If no account or contractnumbers are provided, we will use your Social Security or U.S. Tax ID number to request the assets to be moved.Please make additional copies of this page and the next page if you have more than two accounts/contracts to move.

3A. FIRST ACCOUNT (if more than one account, please complete section 3B in addition to section 3A).

1. Account/Contract #:

and Type: 403(b) Include Roth 403(b) balance 401(a)/(k) Include Roth 401(k) balance

457(b) governmental IRA

2. Please check the box that most accurately refl ects the transaction that you are requesting. Note that your selection will dictate how we process this transaction. Please read Section 3 of the instructions for more details.

The Same Employer as my Employer Plan with Fidelity.

A Previous Employer. For 403(b) and 401(a)/(k) plans.

Previous Employer Name:

A Rollover IRA.

A Traditional IRA or SEP IRA.

3. Liquidation Amount Full Liquidation/100% Partial Liquidation % OR $

Unless otherwise specifi ed, I request the current investment provider to liquidate 100% of my account.

3B. SECOND ACCOUNT (if applicable).

1. Account/Contract #:

and Type: 403(b) Include Roth 403(b) balance 401(a)/(k) Include Roth 401(k) balance

457(b) governmental IRA

2. Please check the box that most accurately refl ects the transaction that you are requesting. Note that your selection will dictate how we process this transaction. Please read Section 3 of the instructions for more details.

The Same Employer as my Employer Plan with Fidelity.

A Previous Employer. For 403(b) and 401(a)/(k) plans.

Previous Employer Name:

A Rollover IRA.

A Traditional IRA or SEP IRA.

3. Liquidation Amount Full Liquidation/100% Partial Liquidation % OR $

Unless otherwise specifi ed, I request thecurrent investment provider to liquidate100% of my account.

(select one)

(select one)

(select one)

(select one)

00000000 00 00000 000 000000000

4. YOUR FIDELITY ACCOUNT INFORMATION

If you do not have a retirement account through Fidelity for the employer listed below, or you do not know the plan number or type, please contact Fidelity at 1-800-343-0860.

5. INVESTMENT INSTRUCTIONS

Would you like the assets invested in your current investment selection? YesIf no, specify below:

Fund Name(s): Fund Code: Percentage:

%

%

%

%

If no investment options are selected, if your investment instructions are incomplete, or if the percentages listed exceed 100%, your entire contribution will be defaulted to the investment option specifi ed in the agreement currently in place with Fidelity for the Plan. If you select an invalid fund, the investment percentage for that fund will be defaulted, as described above.

6. EMPLOYER PLAN ACCEPTANCE

An authorized signature from the employer that sponsors your Fidelity retirement account may be required. To verify if this section needs to be signed, contact your Human Resources offi ce or Fidelity at 1-800-343-0860.

Employer Authorized Signature: X Date:

Employer Authorized Printed Name: X

Employer sponsoring your Fidelity retirement account:(This name appears on your Fidelity statement, or in your enrollment paperwork.)

City and State of Employer: Are you still employed with this Employer? Yes No

4A. Fidelity Account Information for 3A.

Plan Type: 403(b) 401(a)/(k) 457(b) governmental

and Plan Number (if known)

4B. Fidelity Account Information for 3B.

Plan Type: 403(b) 401(a)/(k) 457(b) governmental

and Plan Number (if known)

If there is a discrepancy between plan type and plan number, the plan type selected will be used.

Total = 100%

OR

OR

OR

OR

1.754184.108 434261.2.0 Fidelity Investments Institutional Operations Company, Inc.

7. YOUR SIGNATURE

By signing this form:• I hereby direct the investment provider identifi ed on this form in Section 2 to liquidate the designated amount of the

account(s) listed on this form, and to release the proceeds to my account under my employer’s plan, except to the extent my current employer or any of my former employers prohibit such release. In the event of such prohibition, I hereby direct said investment provider to retain the portion of my account(s) that cannot be released in a separate account or contract and to release the remainder.

• I hereby agree to the terms and conditions stated in this form, including the instructions, and certify that I am requesting a vendor or contract exchange, in-plan transfer, or rollover, of my retirement plan assets in accordance with applicable IRS and plan rules.

• I certify under the penalties of perjury that my Social Security or U.S. Tax Identifi cation number on this form is correct.• I certify that the information provided on this form is true, accurate, and complete to the best of my knowledge.• I acknowledge that I have read the prospectus(es) for any mutual fund in which I invest and agree to the terms.• I hereby agree that if my assets will be sent to Fidelity in installments, the fi rst installment may be invested according to my

instructions on this form. All subsequent installment payments as well as any residual balances not received within 30 days will be invested according to the investment elections currently in place with Fidelity for the Plan at the time my assets are receivedby Fidelity.

For 403(b)-to-403(b) vendor or contract exchanges• I understand that any balances I am exchanging from a 403(b)(1) annuity into a 403(b)(7) custodial account may be subject to

more restrictive withdrawal provisions.• I understand that if I exchange a contribution source that is not allowed by the Plan, the value associated with the unacceptable

source will be returned to the investment provider named in Section 2.• I direct Fidelity to treat all monies as pretax contributions made subsequent to 12/31/1988 unless my prior investment provider

provides Fidelity with account balances as of 12/31/1988 and post-1988 salary reduction contributions.• I direct Fidelity to treat the entire balances as subject to minimum distribution requirements unless my prior investment provider

provides Fidelity with account balances as of 12/31/1986.• I direct Fidelity to allocate the entire balance to the most restrictive source in the current employer’s plan unless my prior

investment provider provides Fidelity with the sources of the exchanged amount under the previous plan.

Your Signature: X Date:

This information is intended to be educational and is not tailored to the investment needs of any specific investor.

Fidelity Portfolio Advisory Service at Work is a service of Strategic Advisers, Inc., a registered investment adviser and a FidelityInvestments company. This service provides discretionary money management for a fee.

This document provides only a summary of the main features of the Board of Regents Retirement Plan of the University System ofGeorgia and the Plan Document will govern in the event of discrepancies.

© 2010 - 2017 FMR LLC. All rights reserved.

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