NASSAU COUNTY NASSAU COUNTY DEFERRED COMPENSATION PLAN PLAN HIGHLIGHTS

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1 NASSAU COUNTY NASSAU COUNTY DEFERRED COMPENSATION PLAN PLAN HIGHLIGHTS

2 Retirement is about being able to do what you want when you are ready to stop working. Whether you plan on traveling, taking up a new hobby, or spending more time with the family, it s a time we all look forward to but it will take money to do it. The Nassau County Deferred Compensation Plan is a great way to save for your future plans, whatever they are. Tax savings through pre-tax contributions, tax-deferred growth on your account and a variety of investment options are just some of the plan s features. Read on to find out how the plan can help put you on the path to a more secure retirement. ELIGIBILITY AND ENROLLMENT Employees and elected officials of Nassau County are eligible to participate in the Nassau County Deferred Compensation Plan and may enroll at any time. Complete an Enrollment Form: To enroll, contact your retirement counselor listed below. Nina Barbarino: Jim Cordes: Ellen Wilson CONTRIBUTIONS When you save in the Deferred Compensation Plan, you pay less in current income taxes, since contributions to your account are made pretax. Also, the money in your account grows on a tax-deferred basis, which means you do not have to pay taxes on your account s earnings until you withdraw the money. Minimum annual contribution $260 Maximum of 85% of pay, up to $19,000 in 2019 Those who will be age 50 and older in 2019 can make an additional contribution of $6,000 in 2019 During the three years before normal retirement age, you may also make a catch-up contribution (may not be made in the same year as age 50 contributions) Rollovers from another employer s eligible plan or pre-tax IRA are accepted into the plan at any time LOANS Number of loans One at a time Minimum $1,000 Maximum 50% of your account balance up to a maximum of $50,000, reduced by the highest outstanding loan balance in the last 12 months Interest rate Prime + 1% Maximum loan term Five years, 15 years if for a primary residence You may borrow money from your Deferred Compensation Plan account for any purpose. Loan repayments are made through payroll deduction. WITHDRAWALS You may be able to withdraw funds from your Deferred Compensation Plan account if you experience a severe financial hardship due to illness or accident involving you, your spouse or dependent; a casualty loss of property or other extraordinary loss beyond control.

3 DISTRIBUTIONS When your employment with Nassau County ends, you have the following options for the money in your account: Leave your funds in the plan (subject to federal rules on required minimum distributions) Take a full or partial distribution Take a full or partial systematic withdrawal Roll over your vested account balance to an Individual Retirement Account (IRA) or other eligible retirement plan INVESTMENT OPTIONS The Nassau County Deferred Compensation Plan offers you a diverse investment lineup to meet your needs, with flexibility to tailor your investment strategy. Category Investment Options Ticker Symbol Stable Value Prudential Stable Value Fund 1 N/A Fixed Income Vanguard Total Bond Market Index Instl* VBTIX Fixed Income Core Plus Bond/PIM** 1 N/A Balanced American Funds American Balanced R4* RLBEX Large-Cap Value Invesco Growth and Income Y* 1 ACGMX Large-Cap Blend Vanguard Institutional Index* VINIX Large-Cap Blend ClearBridge Appreciation I* SAPYX Large-Cap Growth SA/T. Rowe Price Growth Stock Strategy** 1 N/A Mid-Cap Value American Century Mid Cap Value R6* 1 AMDVX Mid-Cap Blend Vanguard Mid Capitalization Index Ins* VMCIX Mid-Cap Growth Hartford MidCap Y* 1 HMDYX Small-Cap Value Delaware Small Cap Value Instl* 1 DEVIX Small-Cap Blend Vanguard Small Cap Index Instl* VSCIX Small-Cap Growth Janus Henderson Triton I* 1 JSMGX International American Funds EuroPacific Growth R5e* 1 RERHX Real Estate Vanguard REIT Index Inv* VGSIX Emerging Markets Oppenheimer Developing Markets Y* ODVYX 1 Funds included in GoalMaker portfolios All investing involves various risks, such as: fixed income (interest rate), default, small cap, international and sector including the possible loss of principal. Keep in mind that application of asset allocation and diversification concepts does not ensure a profit or protect against loss. You can lose money by investing in securities. TARGET DATE FUNDS Target-Date Funds offer a simplified approach to retirement investing. Composed of a variety of underlying funds, they are designed so that an investor can achieve diversification with one fund. Target-date funds also increase their allocation to fixed income investments and decrease their allocation to equity investments over time so that investors can remain in the same fund while shifting to a more conservative allocation as they approach retirement.

4 Investment Options Ticker Symbol T. Rowe Price Retirement Income* TRRIX T. Rowe Price Retirement 2010* TRRAX T. Rowe Price Retirement 2015* TRRGX T. Rowe Price Retirement 2020* TRRBX T. Rowe Price Retirement 2025* TRRHX T. Rowe Price Retirement 2030* TRRCX T. Rowe Price Retirement 2035* TRRJX T. Rowe Price Retirement 2040* TRRDX T. Rowe Price Retirement 2045* TRRKX T. Rowe Price Retirement 2050* TRRMX T. Rowe Price Retirement 2055* TRRNX The target date is the approximate date when investors plan to start withdrawing their money. The principal value of target-date fund(s) is not guaranteed at any time, including at the target date. The asset allocation of the target-date fund will become more conservative as the target date approaches by lessening equity exposure and increasing exposure to fixed income-type investments. GOALMAKER GoalMaker is an optional asset allocation program offered through your retirement plan at no additional cost. GoalMaker can help you target the asset classes best suited to your retirement goals, using the investment options offered through your retirement plan. All you need to do is determine whether you are a conservative, moderate or aggressive investor and how many years until you expect to withdraw your savings. Once you have that information, creating an asset allocation strategy is simple. GoalMaker also automatically rebalances your portfolio and has an optional age-adjustment feature that can automatically move your portfolio to a more conservative allocation as you near retirement. CONSERVATIVE MODERATE AGGRESSIVE ASSET CLASSES n Stable Value n Fixed Income (Long Term and Intermediate) n Large-Cap Stock Growth n Large-Cap Stock Value n Small/Mid-Cap Stock Growth n Small/Mid-Cap Stock Value n International Stock YEARS TO RETIREMENT % 3% 5% 5% 5% 44% 5% 35% 32% 12% 4% 4% 2 39% 2 25% 1 23% 23% % 12% C01 M01 R01 21% 25% 1 23% 1 23% 2 C02 M02 R02 2 9% 1 1 C03 M03 R % 1 15% 15% 31% % 13% C04 M04 R04

5 BUYBACK FOR SERVICE CREDIT You may have the opportunity to get retirement credit for all public service you performed before becoming a member of the New York State and Local Retirement System, including military time. In most cases, purchasing additional service credit will increase your retirement benefit. For more information, go to members/getting_credit_for_service.php. Once you submit the correct forms and receive an Acknowledgement Letter from the Retirement System that details the amount you owe to purchase your service credit, please contact your dedicated retirement counselor as soon as possible. Your counselor will assist you in completing Prudential s 457 Service Buyback Form. SELF-DIRECTED BROKERAGE One of the many benefits of the Nassau County Deferred Compensation Plan is the variety of its investment choices. The plan offers an additional opportunity called the Self-Directed Brokerage (SDB) account. For additional information on the SDB account, please contact Prudential at RETIREMENT COUNSELORS A dedicated team of Prudential retirement counselors are available to meet both in a group setting and individually. They will conduct informational seminars on plan features and investing, answer questions and offer guidance to help with your retirement strategy. For questions or to make an appointment, please contact your department s dedicated retirement counselor. For additional information on your retirement counselors, go to prudential.com/nassaucounty and click Personalized Guidance. ACCOUNT TOOLS Gaining access to your account is easy. Whether you choose to go online or pick up the phone, it s all at your fingertips. To access your account online: Go to prudential.com/nassaucounty Click Access My Account If it is your first time accessing your account, click Register Now Call 877-PRU-2100 ( )

6 * Retail mutual funds and self-directed brokerage are offered through Prudential Investment Management Services LLC (PIMS), Newark, NJ. PIMS is a Prudential Financial company. Self-directed brokerage accounts are carried and maintained by National Financial Services LLC pursuant to a clearing agreement with PIMS. Retirement Counselors are registered representatives of PIMS. ** Investment options available under Prudential Retirement s group variable annuity contracts issued by Prudential Retirement Insurance and Annuity Company (PRIAC), Hartford, CT, a Prudential Financial company. Investors should consider the fund s investment objectives, risks, charges and expenses before investing. The prospectus, and if available the summary prospectus, contain complete information a b o u t t h e i nves t m e n t o pt io n s ava il a b l e t h ro u g h yo u r p l a n. Pl ea se c a ll for a free prospectus and if available, a summary prospectus that contain this and other information about our mutual funds. You should read the prospectus and the summary prospectus, if available carefully before investing. You can lose money when investing in securities. GoalMaker s model allocations are based on generally accepted financial theories that take into account the historic returns of different asset classes. But, of course, past performance of any investment does not guarantee future results. Prudential Financial encourages participants to consider their other assets, income and investments when enrolling in the GoalMaker program. We also recommend participants periodically reassess their GoalMaker investments to make sure their model portfolio continues to correspond to their changing attitudes and retirement time horizon. The GoalMaker model portfolios are subject to change including, for example, the replacement of investment options and allocations within the model portfolios. You will be notified in writing in advance of such changes. The Prudential Stable Value Fund is a combination of a group annuity contract issued by The Prudential Insurance Company of America (PICA), Newark, NJ and an investment in the Prudential Core Conservative Bond Fund of Prudential Trust Company s Collective Trust (the Fund ) as described below. Payment obligations and the fulfillment of any guarantees specified in the group annuity contract are insurance claims supported by the plan s investment in the Fund and, if such investment is not sufficient, by the full faith and credit of PICA. The obligations of PICA and the plan s investment in the Fund are not insured by the FDIC or any other federal governmental agency. The interest rate credited on contract balances is reset pursuant to a formula contained in the group annuity contract. Past interest rates are not indicative of future rates. This product is not a mutual fund. Contract form #GPA-200-WRAP-2004 or state variation thereof. Prudential Retirement is compensated in connection with this product by collecting a fee which provides payment for risk, recordkeeping and distribution services from the plan s investment in the Fund. We may also collect fees on behalf of Prudential Trust Company. Prudential Retirement may use a portion of its aggregate compensation to satisfy the plan s request for allowances and for payments to defray plan expenses, or to compensate unaffiliated third-party plan service providers. If Prudential Retirement s aggregate compensation from this product and from other plan investment products exceeds the costs of servicing your plan, Prudential Retirement earns a profit; otherwise we incur a loss. Frequent exchanging between plan investment options may harm long-term investors. Your plan or the plan s investment funds may have provisions to deter exchanges that may be abusive. These policies may require us to modify, restrict or suspend purchase or exchange privileges and/or impose redemption fees. Prudential and its affiliates do not offer tax or legal advice. You should consult with a professional regarding your personal situation Prudential Financial, Inc. and its related entities. Prudential, the Prudential logo, the Rock symbol and Bring Your Challenges are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide. A MORE SECURE RETIREMENT. LET US TAKE YOU THERE NC_HL_RE1_04 01/2019