Congratulations! Plan Features. Mashantucket Pequot Tribe 401(k) Retirement Plan

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1 Congratulations! Mashantucket Pequot Tribe 401(k) Retirement Plan You are now eligible to participate in the Mashantucket Pequot Tribe (MPTN) 401(k) Retirement Plan (the Plan ). We encourage you to take advantage of this opportunity to invest for your retirement. D R A F T To get started, learn about the Plan features below and decide which contribution rate and investment options are right for you. Then, visit the Plan s Benefits OnLine website at or call the Retirement & Benefits Contact Center at to enroll. Plan Features Eligibility All employees, except for non-resident aliens, leased employees, and employees covered under a collective bargaining agreement that does not provide for coverage under the Plan, are eligible to participate under the Plan upon completion of 90 days of service. Employee Contributions You can authorize from 1% to 50% of your eligible compensation to be deducted from your paycheck each pay period on a Pre-Tax and/or Roth 401(k) basis. Pre-Tax contributions reduce your current taxable income, and any earnings are tax-deferred.* Roth 401(k) contributions are withheld on an after-tax basis from your pay. Current taxable income is not reduced. Any earnings are generally tax-free if you take a qualified distribution (see page 3). In deciding whether Pre-Tax contributions or Roth 401(k) contributions are right for you, evaluate whether you expect your tax rate to be lower, the same, or higher when you take distributions. Another important factor is the impact that Roth 401(k) contributions may have on your current take-home pay. Benefits OnLine provides additional information about the Roth 401(k) feature and offers a modeling tool that allows you to create hypothetical scenarios using your personal information. You may change your contribution rate anytime. Employer Matching Contribution MPTN will match your contribution dollar-for-dollar, up to the first 3% of your eligible compensation, through weekly employer contributions. * Taxes are due upon withdrawal. If you take a withdrawal prior to age 59½, you may also be subject to a 10% additional federal tax. Please consult a tax professional. Merrill Lynch makes available products and services offered by Merrill Lynch, Pierce, Fenner & Smith Incorporated (MLPF&S) and other affiliates of Bank of America Corporation (BofA Corp.). MLPF&S is a registered broker-dealer, member SIPC and a wholly owned subsidiary of BofA Corp. Banking products are provided by Bank of America, N.A., and affiliated banks, members FDIC and wholly owned subsidiaries of BofA Corp. Investment products: Are Not FDIC Insured Are Not Bank Guaranteed May Lose Value

2 Catch-Up Contributions If you will be at least 50 years old by the end of the current Plan year (calendar year) and your regular salary contributions reach the lesser of the IRS federal limit ($18,500 in 2018) or the Plan s maximum deferral rate of 50% (because you do not earn the level of income to meet the federal limit), you may be able to make additional catch-up contributions of up to $6,000 for 2018 on a Pre-Tax and/or Roth 401(k) basis. Contribution Limits Your combined Pre-Tax and Roth 401(k) contributions cannot exceed the IRS limit of $18,500 for 2018 or the annual Plan limit of 50% of compensation, whichever is less, or $24,500 if you are eligible to make catch-up contributions. Vesting Vesting refers to your ownership of the money in your account. You are always 100% vested in your salary contributions and any rollovers (each adjusted for earnings or losses). You become vested in MPTN s matching contributions, adjusted for earnings or losses, as follows: 2 Years of Service Percentage Vested Less than 1 0% 1 20% 2 40% 3 60% 4 80% 5 or more years 100% Investment Options See page 4 for your list of investment options. You may change the way your future contributions are invested as frequently as once each business day. You can transfer your accumulated balances from one investment choice to another once each business day as well (subject to certain restrictions). GoalManager Portfolio Rebalancing Service Choosing which investments offered in the Plan best fit your investment style and risk tolerance can be difficult, even for experienced investors. You can IRS contribution limits may be adjusted in future years. simplify this process by investing all or part of your contributions in one of five pre-mixed portfolio models. These portfolio models are designed using funds selected from the investment menu, and range from a relatively low-risk Conservative portfolio model to a higher-risk Aggressive portfolio model. Each portfolio model is rebalanced quarterly to maintain its original asset mix over the long term. Loans You may borrow from your vested account balance. No more than two loans outstanding are permitted at any time. There is a 14-day waiting period after you pay off an outstanding loan before taking a new loan. The minimum loan amount is $1,000. The maximum loan amount is the lesser of: 50% of your vested balance minus any current loan balance or $50,000 minus your highest outstanding loan balance over the last 12 months. The interest rate is the prime rate plus one percentage point in effect on the last day of the prior quarter, as published in The Wall Street Journal. A loan processing fee of $40 will apply to each loan you take. Your loan will be repaid through after-tax payroll deductions and must be repaid within five years, unless it is for the purchase of your primary residence then you may take up to 15 years to repay it. You can initiate a general purpose loan online or by speaking to a participant service representative at Residential loans, however, can only be initiated through a representative and will require documentation that it is for the purchase of your primary residence. You can pay off a loan in full at any time without penalty by calling and requesting a Loan Payoff form and sending it along with a certified check to the address on the form. Or, you can access Benefits OnLine at to use the Direct Debit Service Loan Payoff option, which is only available to currently employed participants at MPTN. Please consider the advantages and disadvantages before requesting a loan. Here are some of the loan rules.

3 If you leave MPTN, you must arrange to repay your loan. If you do not, the balance will be considered a taxable withdrawal from the Plan. You can continue to make weekly loan repayments through Merrill Lynch s Direct Debit Service at or you can complete a Loan Payoff form and send it along with a certified check to the address on the form. Taxes Upon Withdrawal If you withdraw your Pre-Tax contributions, Employer Matching contributions, and any associated earnings, taxes will be due upon withdrawal. You may also be subject to a 10% additional federal tax if you take a withdrawal before age 59½. Any earnings on Roth 401(k) contributions can generally be withdrawn tax-free if you meet the two requirements for a qualified distribution : 1) At least five years must have elapsed from the year of your initial contribution, and 2) You must have reached age 59½ or become disabled or deceased. If you take a non-qualified withdrawal of your Roth 401(k) contributions, any Roth 401(k) earnings are subject to regular income taxes, plus a possible 10% additional federal tax if withdrawn before age 59½. State income tax laws vary; consult a tax professional to determine how your state treats Roth 401(k) distributions. Rollovers The Plan accepts rollovers of Pre-Tax and Roth 401(k) balances from other qualified plans. To obtain a rollover application, visit Benefits OnLine at or call Applications are also available through MPTN s Human Resources Department. Please consider the advantages and disadvantages of a rollover carefully. Designating Your Beneficiary You can register your beneficiaries online at and are encouraged to do so. Naming beneficiaries helps to ensure Plan assets are distributed according to your direction. If you previously submitted a paper form to the Human Resources department, this designation will continue to be valid. Entering beneficiary information online lets you review and update the designation at any time. More Information An online version of the Summary Plan Description (SPD) that explains more fully the provisions and the rules governing the Plan can be found on the employee intranet (foxnet), at the Plan s Benefits OnLine website and at How to Access Your Account Accessing your account is easy. You can enroll in the Plan online or by phone, get information about your account, learn more about the Plan, perform transactions, and get help preparing for your future. Log on to Benefits OnLine at available virtually 24 hours a day, seven days a week. The first time you log on, you will need to create a User ID and Password. You can create these in just a few minutes by following the instructions online. Call the Retirement & Benefits Contact Center at The Interactive Voice Response (IVR) system is available virtually 24 hours a day, seven days a week. Representatives are available Monday Friday, 8 a.m. to 7 p.m. (ET), on all days the New York Stock Exchange is open. For international calls, call collect at to speak to a participant service representative. For a telecommunications device for the deaf (TDD), call (same hours as above). Benefits OnLine Mobile: On the go? When you log into Benefits OnLine from your smartphone or tablet, the site recognizes that you re using a mobile device. You can enroll, make important account changes, check your balances and more from your mobile device as if you were working from your home, office or laptop computer. 3

4 Mashantucket Pequot Tribe 401(k) Retirement Plan Here is a list of investment options available to you in the Plan. You may also select one of the five GoalManager portfolio models listed on the next page for all or part of your contributions. The Plan also offers Advice Access (see page 6). See page 8 for additional investment information. Investment Option Classification (Lipper) Symbol American Beacon International Equity Fund, Class I International Multi-Cap Core AAIEX BlackRock Basic Value Fund, Class I Multi-Cap Value Funds MABAX BlackRock Global Allocation Fund, Class I Flexible Portfolio Funds MALOX Franklin Small Cap Growth Fund, Advisor Class Small-Cap Growth Funds FSSAX Goldman Sachs Small Cap Value Fund, Class I Small-Cap Core Funds GSSIX Hartford Midcap Fund, Class R5 Mid-Cap Growth Funds HFMTX Invesco Stable Value Retirement Fund 1,2 Stable Value 3 N/A ishares S&P 500 Index Fund, Class K 4 S&P 500 Index Funds WFSPX JPMorgan Core Bond Fund, Class R5 Core Bond Funds JCBRX JPMorgan US Equity Fund, Class R5 Large-Cap Core Funds JUSRX Oakmark International Fund, Class I International Multi-Cap Value OAKIX Oppenheimer International Growth Fund, Class Y International Multi-Cap Growth OIGYX PIMCO Total Return Fund, Class I Core Plus Bond Funds PTTRX Retirement Bank Account 5 Bank Deposit 3 N/A T. Rowe Price Blue Chip Growth Fund Large-Cap Growth Funds TRBCX Vanguard Dividend Growth Fund, Investor Class Equity Income Funds VDIGX Victory Sycamore Established Value Fund, Class I Mid-Cap Core Funds VEVIX Victory Trivalent International Small-Cap Fund, Class Y International Small/Mid-Cap Growth MYSIX 1 This investment option is not a mutual fund, registered under the Investment Company Act of A prospectus is not available and shares are not publicly traded or listed on exchanges. 2 The fund seeks to maintain a $1.00 net asset value per share, although achievement of that objective cannot be assured. 3 This is not a Lipper classification. 4 It is not possible to invest directly in an index. 5 The Retirement Bank Account is a demand deposit account, not a mutual fund. The Retirement Bank Account is an interest-bearing bank account insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000 per plan participant, per ownership category, per depository institution. For more complete information on the investment options, including their management fees and other charges and expenses, please consult the prospectuses and, if available, the summary prospectuses and other comparable documents. Investors should carefully consider the investment objectives, risks, charges and expenses before investing. This, and additional information about the investment options, can be found in the prospectuses and, if available, the summary prospectuses, which can be obtained on Benefits OnLine at or by calling Please read the prospectuses and, if available, the summary prospectuses carefully before investing. 4

5 GoalManager Portfolio Rebalancing Service If you are not sure how to establish a diversified 401(k) investment portfolio, or don t have time to choose individual investment options, GoalManager might be the right choice for you. By putting the power of asset allocation to work for you, GoalManager is designed to make diversified investing simple through a selection of pre-mixed portfolio models customized by your employer.* Once you have selected a GoalManager portfolio model, the model will be rebalanced every 90 days through purchases and sales of the investment options included within the model. This ensures that the model s original asset mix will be maintained over the long term, even during periods of market volatility. Here are the five portfolio models available to you through the GoalManager Portfolio Rebalancing Service. You may select only one GoalManager portfolio model for some or all of your contributions. Fund Name Conservative Conservative to Moderate Moderate Moderate to Aggressive Aggressive Stable Value Investment Option Invesco Stable Value Retirement Fund 8% 6% 3% 0% 0% Bond/Fixed Income Investment Options JPMorgan Core Bond Fund, Class R5 36% 27% 19% 10% 2% PIMCO Total Return Fund, Class I 36% 27% 18% 10% 3% Stock/Equity Investment Options American Beacon International Equity Fund, Class I 2% 3% 6% 9% 11% BlackRock Basic Value Fund, Class I 6% 10% 13% 17% 19% Franklin Small Cap Growth Fund, Advisor Class Goldman Sachs Small Cap Value Fund, Class I 0% 1% 2% 3% 4% 1% 2% 5% 6% 7% Hartford Midcap Fund, Class R5 1% 4% 5% 7% 8% Oakmark International Fund, Class I 2% 5% 6% 9% 11% Oppenheimer International Growth Fund, Class Y 1% 3% 6% 8% 10% T. Rowe Price Blue Chip Growth Fund 4% 7% 10% 12% 14% Victory Sycamore Established Value Fund, Class I 3% 5% 7% 9% 11% * Diversification, rebalancing and asset allocation do not ensure a profit or protect against loss. 5

6 Advice Access Service MPTN offers the Advice Access service through your retirement plan at no additional cost to you. Advice Access is designed to help you develop a retirement strategy, keep track of your progress along the way and manage your retirement portfolio. It Can Answer Important Questions If you re trying to prepare for a comfortable retirement, you ve probably asked yourself the following questions: Am I contributing enough to the 401(k) plan? How should I invest my money? Will I have enough for retirement? Advice Access will recommend which of the Plan s investment options to consider and what percentage to invest in each one, and recommend a contribution rate. Depending on how you choose to implement the service, it may then monitor your progress for you and make suggestions to help you stay on track. How it Works The initial Advice Access recommendations are based on information on file for your 401(k) account, such as your age, salary, and 401(k) balance and contribution rate (if applicable). They also reflect assumptions about your retirement age and the amount of income you may need to maintain your standard of living in retirement. If you want, you can provide more information about your financial goals, savings and investment accounts outside your 401(k) plan, and family details. The more complete the information you provide, the more personalized your Advice Access recommendations will be. What Advice Access Can Do Recommend a contribution rate Recommend specific investments Consider your personal financial situation Consider changes in your financial situation Consider your savings and other investments outside the Plan Review and reallocate your account on a regular basis Rebalance your account on a regular basis Recommend a strategy for withdrawing your retirement assets Stay on Track with PersonalManager Advice Access offers a comprehensive account management solution called PersonalManager. You can save time and effort, knowing your investments are adjusted on a regular basis to help keep you on track with your retirement goals. PersonalManager reviews your personal profile approximately every 90 days, and takes note of any changes you have made. Based on this information, the service will review your investment options and the percentage invested in each one, and make changes as needed. If no changes are needed, PersonalManager will rebalance your account to maintain the original recommended allocation. 6

7 Other Implementation Options As an alternative to PersonalManager, you can choose Portfolio Rebalancing. Your account is rebalanced approximately every 90 days to restore it to its initial allocation. However, unlike PersonalManager, this feature will not review your account on an ongoing basis or choose a new investment mix for you. Or, you can choose One-Time Implementation, with no rebalancing and no updates. This service will implement the recommended investment strategy but any further account changes are up to you. Whichever implementation option you choose, keep in mind that you may opt out of the service at any time should you decide to manage your investments yourself. How to Get Started Online When you log on to Benefits OnLine at you ll see a graph displaying your projected retirement income based on Advice Access recommendations. To continue, select Get started now under Your Retirement Income Projection. You can enter additional personal information for a more tailored strategy. By Phone Call a participant service representative at The Advice Access service uses a probabilistic approach to determine the likelihood that you may be able to achieve your stated goal and/or to identify a potential wealth outcome that could be realized. Additionally, the recommendations provided by Advice Access may include a higher level of investment risk than you may be personally comfortable with. You are strongly advised to consider your personal goals, overall risk tolerance, and retirement horizon before accepting any recommendations made by Advice Access. You should carefully review the explanation of the methodology used, including key assumptions and limitations, which is provided in the Advice Access disclosure statement. It can be obtained through Benefits OnLine or through a participant service representative. IMPORTANT: The projections or other information shown in the Advice Access service regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results and are not guarantees of future results. Results may vary with each use and over time. The Importance of Diversifying Your Retirement Investment Strategy To help you pursue long-term retirement security, you should give careful consideration to the benefits of a well-balanced and diversified investment portfolio. Spreading your assets among different types of investments can help reduce risk and may provide more consistent returns because a decline in the value of one investment may potentially be offset by an increase in the value of another. If you invest more than 20% of your retirement contributions in any one company or industry, your assets may not be properly diversified. Although diversification does not ensure a profit or protect against loss, it can be an effective strategy to help you manage investment risk. In deciding how to invest your retirement contributions, you should take into account all of your assets, including any retirement accounts outside of the Plan. No single approach is right for everyone because, among other factors, individuals have different financial goals, different time horizons for meeting their goals, and different tolerances for risk. It is also important to periodically review your investment portfolio, your investment objectives, and the investment options under the Plan to help ensure that your investments are in line with your retirement goals. 7

8 Online Educational Resources Visit Benefits OnLine to access a variety of financial resources as shown below. BENEFITS ONLINE EDUCATION CENTER Make smart, informed financial decisions with the help of articles, videos, calculators and planning tools. RISK ASSESSMENT AND INVESTMENT GUIDE Take the quiz to get direction on your investment mix. go.ml.com/quiz PERSONAL FINANCIAL JOURNEY Use this interactive tool for help getting and staying on track with your financial goals. go.ml.com/pfjtool Important Investment Information Investing involves risk, including the possible loss of principal. Investments in foreign securities or sector funds, including technology or real estate stocks, are subject to substantial volatility due to adverse political, economic or other developments and may carry additional risk resulting from lack of industry diversification. Funds that invest in small- or mid-capitalization companies experience a greater degree of market volatility than those of large-capitalization stocks and are riskier investments. Bond funds have the same interest rate, inflation, and credit risks associated with the underlying bonds owned by the fund. Generally, the value of bond funds rises when prevailing interest rates fall and falls when interest rates rise. Investing in lower-grade debt securities ( junk bonds) may be subject to greater market fluctuations and risk of loss of income and principal than securities in higher-rated categories. There are ongoing fees and expenses associated with investing. Bear in mind that higher return potential is accompanied by higher risk. This material is only a general outline of the Plan. You are encouraged to read the Summary Plan Description to obtain more detailed information regarding the Plan s operation. This document gives you information you need to make educated decisions about joining the Plan and maintaining a Plan account. If a provision described in this outline differs from the applicable provision of the Plan documents, the Plan documents prevail. Neither Merrill Lynch nor any of its representatives provide tax, accounting or legal advice. You should consult your own independent advisor before making any financial decisions. Unless otherwise noted, all trademarks and registered trademarks are the property of Bank of America Corporation Bank of America Corporation. All rights reserved. ARSQQQ8C /2017