Updates to your City of Surprise Deferred Compensation Plan
Transcription
Updates to your City of Surprise Deferred Compensation Plan
Retirement Plans Transition Brochure Updates to your City of Surprise Deferred Compensation Plan Lower fees New plan options Updated fund menu Your plan is transitioning to Nationwide®. After thorough analysis conducted by the City of Surprise Deferred Compensation Governing Committee, in partnership with SST Benefits Consulting, Nationwide was chosen as the preferred provider of your Deferred Compensation Plan. The City has authorized movement of all assets to a single provider, which is Nationwide. Starting May 20th, Nationwide will begin providing administration and recordkeeping services for the City of Surprise Deferred Compensation Plan. Your current account will be transferred from ICMA into a new account with Nationwide. The transition period will be as short and seamless as possible. After the transition concludes, you will have full access to your new Nationwide-provided account. The City of Surprise asked Nationwide to make changes to the funds menu, as detailed over the next few pages. As always, you can make changes before the transition. There will be a short period of time where no transactions can be accepted or processed. (Please review the Transition Timline.) Transition support: Your local Nationwide Retirement Specialist will gladly assist as you make decisions about Plan participation. In fact, we encourage you to attend one of the many transition workshops to learn more about the Plan and meet your local Nationwide Retirement Specialist. See attached Workshop Schedule to find the dates and times when your Nationwide Retirement Specialist will be at your work site prior to the transition. Visit our transition website SurpriseDCTransition.com for important info. After the transition concludes, you will continue to see your local Nationwide Retirement Specialist at the City of Surprise work sites, offering enrollment assistance as well as individual appointments to help you understand your options in the plan. 1 December 31, 2013 What action do I need to take? You do not have to take any action at this time. Simply stay informed while the City of Surprise and Nationwide take care of the transition for you. After the transition, visit NRSFORU.com and establish a Username and Password to manage your account. Your current Username and Password will not be carried over to Nationwide. Get to know Nationwide: Nationwide is one of the nation’s leading providers of employer-sponsored retirement plans with nearly 40 years dedicated to public employees like you. Nationwide has been selected and trusted by nearly 8,000 plan sponsors and 1.5 million public employees across the country for their deferred compensation plans.1 Together, the City of Surprise and Nationwide are working to provide extra value to employees who elect to participate in the Plan. • • • • • Long-term, tax-deferred savings Low fees Quality investment options Easy account management Comprehensive customer service TIMELINE ICMA Important Dates: After the close of market on May 12 to May 19th, ICMA will not accept or process any transactions to your account. Nationwide Important Dates: TUES WEDS THURS FRI May 19, 2015 May 20, 2015 May 21, 2015 May 22, 2015 After the close of market, funds will be liquidated from ICMA. Blackout* Blackout* Transition concluded. Nationwide setting up accounts and financial information. Nationwide setting up accounts and financial information. Account and financial information will be available with Nationwide at 6 a.m. MT and visible on NRSFORU.com. *Blackout = No transactions can be accepted or processed. Funds are out of the market and in transit to Nationwide. What is the City of Surprise Deferred Compensation Plan? The Plan is a tax-advantaged benefit program, available exclusively to employees of the City of Surprise. The Plan allows employees to defer a portion of income through payroll deduction, to invest for retirement or help meet other long-term savings needs. By federal law, the Plan operates solely for the benefit of employees and their beneficiaries. You can manage the money you defer into the Plan, according to your long-term financial or retirement goals. Investment Option Updates New funds menu Effective after the close of the market on Tuesday, May 19, the fund listed in the left column below will no longer be available. Assets in and deferrals to these funds will be moved to the funds listed in the right column. On May 22nd, after 6 a.m. MT, you may make changes to the funds that have been mapped to you. Your local Nationwide Retirement Specialist will gladly assist as you make decisions about Plan participation. Current ICMA Fund Name Asset Category New Fund at Nationwide Ticker CAPITAL PRESERVATION Vantagetrust PLUS Fund* Stable Value Vantagetrust Cash Management Money Market Nationwide Fixed Account N/A N/A BOND FUNDS Vantagepoint Inflation Protection Inflation Protected Bond PMCO Real Return PRRIX PIMCO High Yield High Yield Bond Loomis Sayles Bond LSBNX PIMCO Total Return Bond Adm Intermediate-Term Bond Metropolitan West Funds - Total Return Bond MWTIX Templeton Global Bond Fund TGBAX Vanguard Total Bond Market Index VBTLX ASSET ALLOCATION/BALANCED FUNDS** Vantagepoint Milestone Retirement Income Target Date Vantagepoint Milestone 2010 Target Date RFTTX Vantagepoint Milestone 2015 Target Date Vantagepoint Milestone 2020 Target Date Vantagepoint Milestone 2025 Target Date Vantagepoint Milestone 2030 Target Date Vantagepoint Milestone 2035 Target Date Vantagepoint Milestone 2040 Target Date Vantagepoint Milestone 2045 Target Date Vantagepoint Model Portfolio Savings Oriented Conservative Allocation Nationwide Fixed Account N/A Vantagepoint Model Portfolio Conservative Growth Conservative Allocation American Funds 2010 Target Date RFTTX Vantagepoint Model Portfolio Traditional Growth Moderate Allocation American Funds 2020 Target Date RRCTX Vantagepoint Model Portfolio Long Term Growth Aggressive Allocation American Funds 2040 Target Date RFGTX Fidelity Puritan Moderate Allocation American Fund American Balanced RLBGX American Funds 2050 Target Date RFITX American Funds 2010 Target Date RFTTX RFTTX American Funds 2020 Target Date American Funds 2030 Target Date American Funds 2040 Target Date RRCTX RRCTX RFETX RFETX RFGTX RFGTX U.S. EQUITY FUNDS Vantagepoint Growth Large Growth American Funds AMCAP RAFGX Calvert Equity Large Blend Parnassus Core Equity PRILX Fidelity Contrafund Large Growth T.Rowe Price Growth Stock Large Growth Vantagepoint Growth & Income Large Blend Vantagepoint Model Portfolio All Equity Growth Large Blend Oppenheimer Main Street Large Blend Parnassus Core Equity PRILX Vantagepoint Equity Income Large Value Oppenheimer Equity Income OEIIX Allianz NFJ Dividend Value Large Value Vanguard Equity Income VEIRX Eaton Vance Large Cap Value Large Value Invesco Diversified Dividend Large Value Vantagepoint Aggressive Opportunities MidCap Growth TimesSquare Mid Cap Growth MidCap Growth T.Rowe Price New America Growth Vanguard Dividend Growth Oppenheimer Equity Income Baron Growth Fund PRWAX PRWAX VDIGX VDIGX OEIIX OEIIX BGRIX BGRIX Current ICMA Fund Name Asset Category New Fund at Nationwide Ticker U.S. EQUITY FUNDS Harbor Mid Cap Growth MidCap Growth Royce Premier MidCap Growth Rainier Small/Mid Cap Equity MidCap Growth Goldman Sachs Mid Cap Value MidCap Value Columbia Mid Cap Value MidCap Value Vantagepoint Select Value MidCap Value Oppenheimer Discovery Small Growth Royce Value Plus Small Growth Vantagepoint Discovery Small Blend T.Rowe Price Small Cap Value Small Value Nuveen Real Estate Real Estate BGRIX Baron Growth Fund BGRIX BGRIX SMVTX RidgeWorth Mid Cap Value Equity SMVTX SMVTX Franklin Small Cap Growth Vanguard Small Cap Index FSMLX FSMLX VSCPX VSMAX Vanguard REIT Index VGSLX DFA U.S. Targeted Value Portfolio DFFVX Fidelity Advisor New Insights FINSX Vanguard Equity-Income VEIRX Vanguard Extended Market Index VEXAX Vanguard Growth Index VIGAX Vanguard Mid-Cap Index VIMAX Vanguard Institutional Index VINIX MFS International Value MINJX INTERNATIONAL/GLOBAL EQUITY FUNDS Vantagepoint International Foreign Large Blend Fidelity Diversified International Foreign Large Blend Harbor International Foreign Large Blend Oppenheimer International Growth OIGIX OIGIX Oppenheimer Developing Markets ODVIX New Perspective Fund RNPGX Vanguard Developed Markets Index VDVIX Vanguard Total International Stock Index VTIAX INDEX FUNDS Vantagepoint Core Bond Index Index Vanguard Total Bond Market Index VBTLX Vantagepoint Overseas Equity Index Index Vanguard Total International Stock Index VTIAX Vantagepoint 500 Stock Index Index Vanguard 500 Index VIFSX Vantagepoint Mid/Small Company Index Index Vanguard Small Cap Index VSCPX Vantagepoint Broad Market Index Index Vanguard 500 Index VIFSX Waddell & Reed Advisors Science & Tech USTFX SPECIALTY Important information to consider Before investing, consider the fund’s investment objectives, risks, and charges and expenses carefully. Each fund’s prospectus contains this and other important information, and is available by calling 1-877-677-3678 or by download at NRSFORU.com. Read carefully before investing. International/emerging market funds involve additional risks, including currency fluctuations, political instability, differences in accounting standards and foreign regulations. Investing involves market risk, including possible loss of principal. Nationwide Retirement Specialists know the City of Surprise Deferred Compensation Plan and can help you understand the risks you may face and strategies that can help you deal with them. “Do It for me” investing If you want the benefits of active investing but do not want to do it yourself, consider Nationwide ProAccount, a managed account solution. Now, for an enhanced fee, you can have an experienced investment firm manage your Plan account, based on your risk tolerance (risk profile) and time horizon (age). Nationwide ProAccount takes guesswork out of retirement plan investment decisions by placing that responsibility in the hands of dedicated investment professionals. To learn more about the Plan’s “do it for me” managed account solution, ask your local nationwide Retirement Specialist about Nationwide ProAccount. Portfolio strategies are designed to move and change as participant’s age or their risk tolerance changes. Investment advice for Nationwide ProAccount is provided to plan participants by Nationwide Investment Advisors, LLC, (NIA), an SEC-registered investment adviser and affiliate of Nationwide Retirement Solutions, your Plan provider NIA has hired Wilshire Associates Inc. as the independent financial expert to develop and manage Nationwide ProAccount portfolios. Additional counseling and assistance can also be attained through Galloway Asset Management, LLC DBA Public Safety Financial. Galloway provides consulting on pension & benefits, service purchase buybacks, entering DROP and separation from service or exiting Drop. For more information visit www.Galloway911.com You can invest for tax-free retirement income through your Plan account You can choose to contribute after-tax income to your 457(b), through our Roth option. When you designate some or all of your contributions as Roth, you pay taxes on that portion upfront; but withdrawals of earnings can be tax-free if certain conditions are met.* The benefit of designating contributions as Roth is tax-free withdrawals. You can split contributions between pre-tax (traditional) contributions and after-tax Roth contributions, which may help you diversify the tax impact of withdraws from your Plan account. While giving you greater tax-planning flexibility, there are limitations to the Roth option. Your Nationwide Retirement Specialist can help you understand the Roth option so that you can make an informed decision. * Regardless of whether it’s with pre- or post-tax dollars, investing involves market risk, including possible loss of principal. Contributions to and earnings from a Roth are non-taxable if the distribution is made after 5 consecutive tax years since the first Roth contribution was made AND the distribution is made after age 59½, or because of death or disability, or a qualified firstime home purchase. Self Directed Option You have access to thousands of funds through the Self Directed Brokerage Option with Schwab Personal Choice Retirement Account (PCRA). What about my quarterly statement? You will receive a statement from ICMA up to the transition date (May 20th). Thereafter, your statements will be mailed by Nationwide. Manage your account online or by phone Any Time. Anywhere. Any Device. Beginning May 21st, you can access your account with whatever device you prefer. NRSFORU.com: Account access online 1. Go to NRSFORU.com 2. Select Sign Up for an Online Account. For security reasons, never share your Web password or PIN with any other person. Call Toll Free 1-877-677-3678 1. Enter your Social Security Number. 2. Use your date of birth for your initial Personal Identification Number (PIN); for example, if your birthday is Feb. 15, 1972, your PIN is 02151972. 3. Create a new four-digit PIN at the next prompt Account access by phone after the first time 1. Call 1-877-677-3678 2. Enter your four-digit PIN. Note: During the set-up process, you will be asked to use your Social Security Number. Then, you will be assigned a unique account number to be used going forward. Use of this account number will help protect your personal data. The City of Surprise Deferred Compensation Plan Online:NRSFORU.com Email:[email protected] Your Nationwide Retirement Specialists: Matt Gayman (Locally) (Local Servicing Representative) Phone: 602-316-4329 or 602-293-1174 Email: [email protected] Dan Hadden (Ohio Home Office) (Direct Access Phone Representative) Phone: 1-800-796-9753 Email: [email protected] On-Site Educational Workshop Schedule Come meet your Nationwide Retirement Specialist to learn more about these enhancements. In addition, your Galloway Asset Management Representative will be at some meetings. Your Representative will be on-site from 8a.m. - 2p.m. with 1 to 2 presentations per day and 1:1’s the rest of the day. DATE LOCATION April 7th Tuesday City Hall 2nd Floor Atrium Conference Room April 9th Thursday Public Safety Building White Conference Room April 16th Thursday City Hall 2nd Floor Atrium Conference Room April 20th Monday City Hall 3rd Floor Atrium Conference Room You can always contact your Nationwide Retirement Solutions representatives: You can also contact your Galloway Asset Management, LLC contact: Matt Gayman (Locally) (Local Servicing Representative) Phone: 602-316-4329 or 602-293-1174 Email: [email protected] Diane Sellier (Home Office) Phone: 480-325-8668 Email: [email protected] You can RSVP for the above workshops (not mandatory) and/or schedule an individual account review with Matt by accessing the on-line appointment scheduler tool by accessing: www.Surprise457PlanTransition.myretirementappt.com Dan Hadden (Ohio Home Office) (Direct Access Phone Representative) Phone: 877-677-3678 ext. 4358358 Email: [email protected] Nationwide Retirement Specialists are Registered Representatives of Nationwide Investment Services Corporation, member FINRA. Retirement Specialists cannot offer investment, tax or legal advice. Consult your own counsel before making decisions about participation in the City of Surprise Deferred Compensation Plan. Nationwide and the Nationwide N and Eagle are service marks of Nationwide Mutual Insurance Company. © 2015 Nationwide. Nationwide Retirement Solutions and Nationwide Life Insurance Company (collectively “Nationwide”) have endorsement relationships with the National Association of Counties and the International Association of Fire Fighters-Financial Corporation. For more information, visit www.NRSFORU.com NRM-13010AZ (02/15)