Livingston County 457(b) Deferred Compensation Plan · 2019-04-09 · Neuberger Berman Equity Trust ® Genesis Fund >> T. Rowe Price QM US Small-Cap Growth Eq Invesco International

Livingston County 457(b) Deferred Compensation Plan

April 2019

DisclosurePlante Moran Financial Advisors (PMFA) is providing this material to convey general information about our services and not for the purpose of providing investment advice. Use of any of the strategies mentioned or investment in any of the companies or sectors mentioned herein may not be appropriate for you. You should consult a representative of PMFA or your personal investment advisor for investment or planning advice regarding your own situation.

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Discussion topics Plante Moran Financial Advisors Introduction

Upcoming Plan Changes

• Benefits of Changes

• Investment Options

• Default Investment

• Fee Leveling

How to Change Your Account

Service Providers

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Plante Moran Financial Advisors

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Plante Moran Financial Advisors (PMFA)

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How do we serve the plan?

• Work exclusively for the benefit of the plan and its participants

• Sign on as the Plans’ investment fiduciaries

• Assist with investment selection & monitoring

• Assist with preparation of Investment Policy Statement

• Assist with development of participant education strategy

• Perform annual comprehensive fee benchmarking

• Provide fiduciary training to Retirement Plan Advisory Committee

• Consult on Plan Design

• Additional resource for participants


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Thousands of available

investment options

• PMFA uses Qualitative and Quantitative measures to locate potential investment options

Potential investment

options presented to Retirement

Plan Committee

• Collaborative approach between Retirement Plan Committee and PMFA

Plan investments selected

• Investment options selected and monitored according to an Investment Policy Statement

Plan investment options are continually

monitored by PMFA

Upcoming Plan Changes

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Benefits of Changes

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• Investment Changes

• Simplified investment menu using best in class fund managers

• Lowest cost version of each investment option

• Increased access to passive investments

• Consistent investment options across providers

• Investment options continually monitored by Plante Moran Financial Advisors

• Fee Structure Changes

• Lower administration costs

• More transparency of costs

• More even split of costs

VALUE BLEND GROWTH

LARG

EJohn Hancock Disciplined Value (R6 / R4)

Fidelity 500 IndexParnassus Core Equity Inv

MainStay Large Cap Growth (I / Inv)Fidelity Contrafund

MID JPMorgan Mid-Cap Value R6 Fidelity Mid Cap Index T. Rowe Price Instl Mid-Cap Growth

SMAL

L

American Beacon Small-Cap Value (A / R6) Fidelity Small Cap index T. Rowe Price QM US Small-Cap Growth (I / Eq)

STABLE VALUE / MONEY MARKET CORE FIXED INCOME OTHER FIXED INCOME

Great-West Guaranteed Fund (Empower)Nationwide Fixed Account (Nationwide)

Metropolitan West Total Return (Adm / M)Fidelity U.S. Bond Index

Vanguard Inflation Protected Secs AdmPIMCO Income A

INTERNATIONAL/WORLD EQUITY TARGET DATE OTHER

Vanguard Total Intl Stock Index AdmVanguard International Growth Adm

American Funds EuroPacific Growth R6MFS International Value R3

T. Rowe Price Retirement Funds (5 Yr Increments)

Vanguard STAR InvNuveen Real Estate I

*(Empower/Nationwide) Share Classes

New Fund Lineup as of 4/15/19 - Empower5/16/19 - Nationwide

Mapping Schedule (Empower) 4/15/19

10*QDIA: Qualified Default Investment Alternative

Existing Fund Info New Fund InfoGreat-West Guaranteed Government Fund >> Great-West Guaranteed Government FundGreat-West Bond Index Fund Inv >> Fidelity U.S. Bond IndexPIMCO Total Return Adm >> Metropolitan West Total Return Bond AdmGreat-West Multi-Sector Bond Inv >> PIMCO Income APutnam High Yield R >> QDIAGreat-West Global Bond Inv >> QDIAGreat-West T. Rowe Price Equity Income Fund Inv >> John Hancock Disciplined Value R6Great-West S&P 500 Index Fund Inv >> Fidelity 500 IndexJPMorgan US Research Enhanced Equity A >> Parnassus Core Equity InvMFS Research R3 >> Parnassus Core Equity InvAmerican Funds Growth Fund R3 >> MainStay Large Cap Growth IGreat-West Large Cap Growth Inv >> MainStay Large Cap Growth IAriel Appreciation Fund >> JPMorgan Mid Cap Value R6Great-West Ariel Mid Cap Value Fund Inv >> JPMorgan Mid Cap Value R6Great-West Mid Cap Value Inv >> JPMorgan Mid Cap Value R6Virtus Ceredex Mid-Cap Value Equity I >> JPMorgan Mid Cap Value R6Great-West T. Rowe Price Mid Cap Growth Fund Inv >> T. Rowe Price Instl Mid-Cap Growth

Existing Fund Info New Fund InfoGreat-West Invesco Small Cap Value Fund Inv >> American Beacon Small Cap Value AGreat-West Loomis Sayles Small Cap Value Fund Inv >> American Beacon Small Cap Value ADelaware Small Cap Core A >> Fidelity Small Cap indexGreat-West S&P Small Cap 600 Index Fund Inv >> Fidelity Small Cap indexClearBridge Small Cap Growth A >> T. Rowe Price QM US Small Cap Growth IArtisan International Fund >> Vanguard International Growth AdmGreat-West International Growth Inv >> Vanguard International Growth AdmGreat-West International Value Inv >> MFS International Value R3Great-West SecureFoundation >> T. Rowe Price Retirement FundsGreat-West Lifetime >> T. Rowe Price Retirement FundsConservative Profile >> QDIAModerately Aggressive Profile >> QDIAAggressive Profile >> QDIAGreat-West SecureFoundation Balanced Inv >> Vanguard STAR InvGreat-West Real Estate Index Fund Inv >> Nuveen Real Estate Securities IOppenheimer Global Fund >> QDIA

New Fund AdditionsVanguard Inflation Protected Securities AdmFidelity ContrafundFidelity Mid Cap indexAmerican Funds EuroPacific Growth R6Vanguard Total Intl Stock Index Adm

Mapping Schedule (Nationwide) 5/16/19

11*QDIA: Qualified Default Investment Alternative

Existing Fund Info New Fund InfoNationwide Fixed Account >> Nationwide Fixed AccountFixed Assets >> Nationwide Fixed AccountInvesco Short-Term Investment Trust Instl >> Nationwide Fixed AccountNationwide Government Money Market Fund Inv >> Nationwide Fixed AccountFederated U.S. Government Secs Fund 2-5 Yr >> Nationwide Fixed AccountNationwide Bond Index Fund >> Fidelity U.S. Bond IndexNationwide Loomis Core Bond Fund Instl >> MetWest Total Return Bond MLord Abbett High Yield Fund R5 >> QDIAPIMCO Foreign Bond Fund (U.S. Dollar Hedged) A >> QDIAAmerican Century Value Fund >> John Hancock Disciplined Value R4Invesco Growth and Income Fund A >> John Hancock Disciplined Value R4Edgar Lomax Value >> John Hancock Disciplined Value R4Nationwide S&P 500 Index Fund >> Fidelity 500 IndexNationwide Fund - Instl >> Parnassus Core Equity InvSEI Instl Managed Trust S&P 500 F >> Vanguard 500 Index AdmThe Investment Company of America® >> Parnassus Core Equity InvNueberger Berman Sustainable Equity Fund Inv >> Parnassus Core Equity InvFidelity Contrafund >> Fidelity ContrafundFidelity OTC Portfolio >> MainStay Large Cap Growth InvNationwide Large Cap Growth Portfolio >> MainStay Large Cap Growth InvT. Rowe Price Growth Stock Fund >> MainStay Large Cap Growth InvNationwide Loomis All Cap Growth Eagle >> MainStay Large Cap Growth Inv

Existing Fund Info New Fund InfoJPMorgan Mid Cap Value Fund >> JPMorgan Mid Cap Value R6Nationwide Mid Cap Market Index Fund >> Fidelity Mid Cap IndexWells Fargo Discovery Fund Adm >> T. Rowe Price Instl Mid Cap GrowthNationwide US Small Cap Value Fund Instl >> American Beacon Small Cap Value R6Nationwide Small Cap Index Fund >> Fidelity Small Cap IndexNationwide VIT Small Company Fund >> Vanguard Small Cap Index AdmNationwide Small Company Growth Fund Instl >> T. Rowe Price QM US Small-Cap Growth EqNeuberger Berman Equity Trust ® Genesis Fund >> T. Rowe Price QM US Small-Cap Growth EqInvesco International Growth Fund R5 >> Vanguard International Growth AdmMFS International Value Fund R3 >> MFS International Value Fund R3Nationwide International Index Fund >> American Funds EuroPacific Growth R6New World Fund (SM) R4 >> QDIANationwide Destination Funds (5 Yr) >> T. Rowe Price Retirement FundsNationwide Investor Destination Conservative >> QDIANationwide Investor Destination Moderately Conserv >> QDIANationwide Investor Destination Moderate >> QDIANationwide Investor Destination Moderately Aggress >> QDIAFidelity Puritan® Fund >> Vanguard Star InvNationwide Investor Destination Aggressive >> QDIACohen & Steers Real Estate Securities A >> Nuveen Real Estate Securities IOppenheimer Global Fund >> QDIA

New Fund AdditionsPIMCO Income AVanguard Inflation Protected Securities AdmVanguard Total Intl Stock Index Adm

QDIA - Target Date Funds

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• Portfolio of mutual funds based on your target retirement date

• Offers diversification benefits within one investment option

• Target date funds rebalance automatically, gradually changing its

mix of stocks and bonds to become more conservative as investors

get closer to their target retirement age

• Default funds for the Plans if a participant does not choose an asset

allocation

Target Date Fund Age Matrix

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Target Date Funds Available Suggested Target Age Ranges(Year of Birth)

T. Rowe Price 2005 Fund TRRFX Prior to 12/31/1942

T. Rowe Price 2010 Fund TRRAX 1/1/1943 – 12/31/1947

T. Rowe Price 2015 Fund TRRGX 1/1/1948 – 12/31/1952

T. Rowe Price 2020 Fund TRRBX 1/1/1953 – 12/31/1957

T. Rowe Price 2025 Fund TRRHX 1/1/1958 – 12/31/1962

T. Rowe Price 2030 Fund TRRCX 1/1/1963 – 12/31/1967

T. Rowe Price 2035 Fund TRRJX 1/1/1968 – 12/31/1972

T. Rowe Price 2040 Fund TRRDX 1/1/1973 – 12/31/1977

T. Rowe Price 2045 Fund TRRKX 1/1/1978 – 12/31/1982

T. Rowe Price 2050 Fund TRRMX 1/1/1983 – 12/31/1987

T. Rowe Price 2055 Fund TRRNX 1/1/1988 – 12/31/1992

T. Rowe Price 2060 Fund TRRLX 1/1/1993 – Current

Participants do not have to select the target date fund where their target retirement year falls

Target Date Fund Glidepath

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Basic investment strategy What type of investor are you?

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• Does not want to build his/her own portfolio and is looking for simplicity

• Will play a limited role in managing the account

Target Date Funds/Managed Accounts

• Wants to have control of his/her own portfolio and understands portfolio construction

• Wants to use asset allocation tools to construct portfolio• Has outside assets and wants to complement with options available in

the plan• Wants access to a variety of asset classes

Core Fund Options

Participant Involvement

Low

Medium&

High

What is “Fee Leveling”

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Fund NameNet

Expense Ratio

Revenue Sharing Ratio

Cost Net of Revenue Sharing

Net Expense Cost per $1,000

Revenue Sharing per

$1,000

Cost per $1,000Net of Revenue

Sharing

PIMCO Income Instl 0.74% 0.00% 0.74% $7.40 $0 $7.40

PIMCO Income A 1.14% 0.50% 0.64% $11.40 $5.00 $6.40

Source: Morningstar, Nationwide

Fee Leveling allows the crediting of certain types of revenue received from investments back to the participant’s account with a balance in that investment. Once Fee Leveling takes effect, you may see a revenue sharing credit, labeled, “Fee Credit,” on your quarterly statements.

Investment Expense Summary (Nationwide)

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Summary of Net Investment Costs

Fund Name Prospectus Net Expense Ratio

Revenue Sharing Net Cost

Metropolitan West Total Return Bond M 0.67% 0.35% 0.32%

Fidelity U.S. Bond Index 0.025% 0.00% 0.05%

Vanguard Inflation-Protected Secs Adm 0.10% 0.00% 0.10%

PIMCO Income A 1.14% 0.50% 0.64%

John Hancock Disciplined Value R4 0.95% 0.35% 0.60%

Fidelity 500 Index 0.015% 0.00% 0.015%

Parnassus Core Equity Inv 0.87% 0.50% 0.37%

MainStay Large Cap Growth Inv 1.07% 0.50% 0.57%

Fidelity Contrafund 0.74% 0.25% 0.49%

JPMorgan Mid-Cap Value R6 0.75% 0.00% 0.75%

Fidelity Mid Cap Index 0.025% 0.00% 0.025%

T. Rowe Price Instl Mid-Cap Equity Growth 0.61% 0.00% 0.61%

American Beacon Small-Cap Value R6 0.81% 0.00% 0.81%

Fidelity Small Cap Index 0.025% 0.00% 0.025%

T. Rowe Price QM US Small-Cap Growth Eq 0.79% 0.15% 0.64%

Vanguard Total Intl Stock Index Adm 0.11% 0.00% 0.11%

Livingston County 457(b) Deferred Compensation PlanSummary of Net Investment Costs



Vanguard International Growth Adm 0.32% 0.00% 0.32%

American Funds EuroPacific Growth R6 0.49% 0.00% 0.49%

MFS International Value R3 0.98% 0.50% 0.48%

Vanguard STAR Inv 0.32% 0.00% 0.32%

Nuveen Real Estate I 1.04% 0.25% 0.79%

T. Rowe Price Retirement 2005 Fund 0.54% 0.00% 0.54%












Investment Expense Summary (Empower)

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Summary of Net Investment Costs



Metropolitan West Total Return Bond Adm 0.78% 0.50% 0.28%

Fidelity U.S. Bond Index 0.025% 0.00% 0.05%

Vanguard Inflation-Protected Secs Adm 0.10% 0.00% 0.10%

PIMCO Income A 1.14% 0.45% 0.69%

John Hancock Disciplined Value R6 0.70% 0.00% 0.70%

Fidelity 500 Index 0.015% 0.00% 0.015%

Parnassus Core Equity Inv 0.87% 0.40% 0.47%

MainStay Large Cap Growth I 0.75% 0.25% 0.50%

Fidelity Contrafund 0.74% 0.25% 0.49%

JPMorgan Mid-Cap Value R6 0.75% 0.00% 0.75%

Fidelity Mid Cap Index 0.025% 0.00% 0.025%

T. Rowe Price Instl Mid-Cap Equity Growth 0.61% 0.00% 0.61%

American Beacon Small-Cap Value A 1.21% 0.50% 0.71%

Fidelity Small Cap Index 0.025% 0.00% 0.025%

T. Rowe Price QM US Small-Cap Gr Eq I 0.66% 0.00% 0.66%

Vanguard Total Intl Stock Index Adm 0.11% 0.00% 0.11%

Livingston County 457(b) Deferred Compensation PlanSummary of Net Investment Costs



Vanguard International Growth Adm 0.32% 0.00% 0.32%

American Funds EuroPacific Growth R6 0.49% 0.00% 0.49%

MFS International Value R3 0.98% 0.50% 0.48%

Vanguard STAR Inv 0.32% 0.00% 0.32%

Nuveen Real Estate I 1.04% 0.35% 0.69%













Service providers

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How to Access Your Account

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Visit https://www.nrsforu.com Visit https://www.empowermyretirement.com

Kathy Mahoney

(989) 450-5548

[email protected]

Retirement Resource Group

(888) 401-5272

[email protected]

General Representative

(888) 672-7240

Ken Kelbel

(810) 730-6659

[email protected]

https://www.nrsforu.com/

https://www.empowermyretirement.com/

Plante Moran Financial AdvisorsFor general investment-related questions, contact:


Dori Drayton Steven Gibson

(616) 643-4030 (734) 302-6966

[email protected] [email protected]

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DisclosurePast performance does not guarantee future results.

Data sources for peer group comparisons, returns, and standard statistical data are provided by the sources referenced and are based on data obtained from recognized statistical services or other sources believed to be reliable. However, some or all information has not been verified prior to the analysis, and we do not make any representations as to its accuracy or completeness. Any analysis nonfactual in nature constitutes only current opinions, which are subject to change. There may be instances when consultant opinions regarding any fundamental or quantitative analysis may not agree.

The presentation was prepared solely to help in presenting our services.

Plante Moran Financial Advisors publishes this presentation to convey general information about our services. Investments mentioned herein may not be appropriate for you. You should consult with your financial advisor regarding your own situation.

The projections or other information within this presentation regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results, and are not guarantees of future results. The projections are based on assumptions. There can be no assurance that the projected or simulated results will be achieved or sustained. The charts present only a range of possible outcomes. Actual results will vary with each use and over time, and such results may be better or worse than the simulated scenarios. Clients should be aware that the potential for loss (or gain) may be greater than demonstrated in the simulations.

The glide path chart shown is for illustrative purposes only and should not be interpreted as recommendations to buy or sell. Allocations are subject to change and may have changed since the completion of the illustration of the glide path chart shown in this document. Furthermore, the glide path chart shown does not represent the current asset allocations of each target date fund respective to each fund’s target retirement date.

Plante Moran Financial Advisors is an affiliate of Plante & Moran, PLLC. www.pmfa.com

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Thank you.

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Documents

Livingston County 457(b) Deferred Compensation Plan · 2019-04-09 · Neuberger Berman Equity Trust ® Genesis Fund >> T. Rowe Price QM US Small-Cap Growth Eq Invesco International