JOHNSON COUNTY 457 DEF COMP

Transcription

1 P E R F O R M A N C E U P D A T E JOHNSON COUNTY 457 DEF COMP Average Annual Total Returns as of: 07/31/2018 (shown in percentages) Variable annuities and mutual funds offered through a retirement plan are intended as long-term investments designed for retirement purposes. Money distributed from a 403(b) plan, 401(a)/(k) plan, or a 457 plan will be taxed as ordinary income in the year the money is distributed. Early withdrawals from a 403(b) plan and a 401(a)/(k) plan, if taken prior to age 59 1/2, will be subject to the IRS 10% premature distribution penalty tax, unless an exception applies. This IRS premature distribution penalty tax does not apply to 457 plans. Account values fluctuate with market conditions, and when surrendered the principal may be worth more or less than the original amount invested. The performance data quoted represents past performance. Past performance does not guarantee future results. For monthend performance which may be lower or higher than the performance data shown please call Investment return and principal value of an investment will fluctuate so that, when sold, an investment may be worth more or less than the original cost. These numbers reflect total Separate Account charges of 0.15% on an annual basis to all investment options. They also assume reinvestment of all dividends (ordinary income and capital gains) and are net of management fees and other fund operating expenses. The returns assume reinvestment of all dividends (ordinary income and capital gains) and are net of management fees and other fund operating expenses. You should consider the investment objectives, risks and charges, and expenses of the funds carefully before investing. The prospectus contains this and other information. Anyone who wishes to obtain a free copy of the fund prospectuses may call their Voya representative or the number above. Please read the prospectus carefully before investing. Returns less than one year are not annualized. is the date of inception for the underlying fund, and is the date used in calculating the periodic returns. This date may also precede the portfolio's inclusion in the product. Stability of Principal Stable Value Voya Stable Value 20 CIT (1) /03/ Bonds Intermediate-Term Bond BlackRock Total Return - Institutional Shares (2) ishares U.S. Aggregate Bond Index - Class K Shares (3) Asset Allocation Lifecycle - Index Vanguard Target Retirement Investor Shares (4) Vanguard Target Retirement Investor Shares (4) Vanguard Target Retirement Investor Shares (4) Vanguard Target Retirement Investor Shares (4) Vanguard Target Retirement Investor Shares (4) Vanguard Target Retirement Investor Shares (4) Vanguard Target Retirement Investor Shares (4) /07/ /02/ /27/ /07/ /27/ /07/ /27/ /07/ /27/ Page 1 of 7

2 Vanguard Target Retirement Investor Shares (4) Vanguard Target Retirement Investor Shares (4) Vanguard Target Retirement Income - Investor Shares (4) Balanced /07/ /18/ /27/ Allocation--50% to 70% Equity VY T. Rowe Price Capital Appreciation Portfolio - Inst Large Cap Value /24/ Large Blend Vanguard 500 Index - Admiral Shares /13/ Large Value John Hancock Disciplined Value - Class R Large Cap Growth /02/ Large Growth Fidelity Contrafund /17/ Franklin Growth - Advisor Class (5) /31/ Small/Mid/Specialty Mid-Cap Blend John Hancock Disciplined Value Mid Cap - Class I Vanguard Mid-Cap Index - Admiral Shares /03/ /12/ Mid-Cap Growth Fidelity Advisor Mid Cap II - Class I /12/ VY Baron Growth Portfolio - Initial Class (6) /01/ Small Blend Vanguard Small-Cap Index - Admiral Shares Small Growth Voya SmallCap Opportunities Portfolio - Class I (7) Small Value AllianzGI NFJ Small-Cap Value - Institutional Class (8) Specialty - Real Estate VY Clarion Real Estate Portfolio - Institutional Class (9) Global / International Foreign Large Blend Vanguard Developed Markets Index - Admiral Shares Foreign Large Growth American s EuroPacific Growth - Class R /13/ /06/ /01/ /24/ /17/ /16/ The risks of investing in small company stocks may include relatively low trading volumes, a greater degree of change in earnings and greater short-term volatility. Foreign investing involves special risks such as currency fluctuation and public disclosure, as well as economic and political risks. Page 2 of 7

3 Some of the s invest in securities guaranteed by the U.S. Government as to the timely payment of principal and interest; however, shares of the s are not insured nor guaranteed. High yielding fixed-income securities generally are subject to greater market fluctuations and risks of loss of income and principal than are investments in lower yielding fixed-income securities. Sector funds may involve greater-than average risk and are often more volatile than funds holding a diversified portfolio of stocks in many industries. Examples include: banking, biotechnology, chemicals, energy, environmental services, natural resources, precious metals, technology, telecommunications, and utilities. *The Expense Ratios shown do not reflect any temporary fee or expense waivers that may be in effect for a fund. The performance of a fund with a temporary fee or expense waiver would have been lower if the gross fund fees / expenses listed had been reflected. Page 3 of 7

4 P E R F O R M A N C E U P D A T E JOHNSON COUNTY 457 DEF COMP Average Annual Total Returns as of: 06/30/2018 (shown in percentages) Variable annuities and mutual funds offered through a retirement plan are intended as long-term investments designed for retirement purposes. Money distributed from a 403(b) plan, 401(a)/(k) plan, or a 457 plan will be taxed as ordinary income in the year the money is distributed. Early withdrawals from a 403(b) plan and a 401(a)/(k) plan, if taken prior to age 59 1/2, will be subject to the IRS 10% premature distribution penalty tax, unless an exception applies. This IRS premature distribution penalty tax does not apply to 457 plans. Account values fluctuate with market conditions, and when surrendered the principal may be worth more or less than the original amount invested. The performance data quoted represents past performance. Past performance does not guarantee future results. For monthend performance which may be lower or higher than the performance data shown please call Investment return and principal value of an investment will fluctuate so that, when sold, an investment may be worth more or less than the original cost. These numbers reflect total Separate Account charges of 0.15% on an annual basis to all investment options. They also assume reinvestment of all dividends (ordinary income and capital gains) and are net of management fees and other fund operating expenses. The returns assume reinvestment of all dividends (ordinary income and capital gains) and are net of management fees and other fund operating expenses. Returns less than one year are not annualized. is the date of inception for the underlying fund, and is the date used in calculating the periodic returns. This date may also precede the portfolio's inclusion in the product. Stability of Principal Stable Value Voya Stable Value 20 CIT (1) /03/ Bonds Intermediate-Term Bond BlackRock Total Return - Institutional Shares (2) ishares U.S. Aggregate Bond Index - Class K Shares (3) Asset Allocation Lifecycle - Index Vanguard Target Retirement Investor Shares (4) Vanguard Target Retirement Investor Shares (4) Vanguard Target Retirement Investor Shares (4) Vanguard Target Retirement Investor Shares (4) Vanguard Target Retirement Investor Shares (4) Vanguard Target Retirement Investor Shares (4) Vanguard Target Retirement Investor Shares (4) Vanguard Target Retirement Investor Shares (4) Vanguard Target Retirement Investor Shares (4) /07/ /02/ /27/ /07/ /27/ /07/ /27/ /07/ /27/ /07/ /18/ Page 4 of 7

5 Vanguard Target Retirement Income - Investor Shares (4) Balanced /27/ Allocation--50% to 70% Equity VY T. Rowe Price Capital Appreciation Portfolio - Inst Large Cap Value /24/ Large Blend Vanguard 500 Index - Admiral Shares /13/ Large Value John Hancock Disciplined Value - Class R Large Cap Growth /02/ Large Growth Fidelity Contrafund /17/ Franklin Growth - Advisor Class (5) /31/ Small/Mid/Specialty Mid-Cap Blend John Hancock Disciplined Value Mid Cap - Class I Vanguard Mid-Cap Index - Admiral Shares /03/ /12/ Mid-Cap Growth Fidelity Advisor Mid Cap II - Class I /12/ VY Baron Growth Portfolio - Initial Class (6) /01/ Small Blend Vanguard Small-Cap Index - Admiral Shares Small Growth Voya SmallCap Opportunities Portfolio - Class I (7) Small Value AllianzGI NFJ Small-Cap Value - Institutional Class (8) Specialty - Real Estate VY Clarion Real Estate Portfolio - Institutional Class (9) Global / International Foreign Large Blend Vanguard Developed Markets Index - Admiral Shares Foreign Large Growth American s EuroPacific Growth - Class R /13/ /06/ /01/ /24/ /17/ /16/ The risks of investing in small company stocks may include relatively low trading volumes, a greater degree of change in earnings and greater short-term volatility. Foreign investing involves special risks such as currency fluctuation and public disclosure, as well as economic and political risks. Some of the s invest in securities guaranteed by the U.S. Government as to the timely payment of principal and interest; however, shares of the s are not insured nor guaranteed. Page 5 of 7

6 High yielding fixed-income securities generally are subject to greater market fluctuations and risks of loss of income and principal than are investments in lower yielding fixed-income securities. Sector funds may involve greater-than average risk and are often more volatile than funds holding a diversified portfolio of stocks in many industries. Examples include: banking, biotechnology, chemicals, energy, environmental services, natural resources, precious metals, technology, telecommunications, and utilities. *The Expense Ratios shown do not reflect any temporary fee or expense waivers that may be in effect for a fund. The performance of a fund with a temporary fee or expense waiver would have been lower if the gross fund fees / expenses listed had been reflected. Additional Notes (1)The Stable Value is a group collective investment trust that holds a diversified portfolio of stable value products. The fund is not insured by the FDIC or any bank or governmental agency and fund performance is not guaranteed. The fund is not a mutual fund and interests in the fund have not been registered with the Securities and Exchange Commission. While the fund seeks to provide safety of principal, it is possible to lose money by investing in the fund. (2)BlackRock Total Return - Institutional Shares: BlackRock has contractually agreed to waive and/or reimburse fees and/or expenses in order to limit Total Annual Operating Expenses After Fee Waivers and/or Expense Reimbursements (excluding Dividend Expense, Interest Expense, Acquired Fees and Expenses and certain other expenses) to 0.44% of average daily net assets through January 31, These contractual agreements may be terminated upon 90 days' notice by a majority of the noninterested directors of BlackRock Bond, Inc. (the Corporation) or by a vote of a majority of the outstanding voting securities of the. BlackRock has contractually agreed to waive the management fee of the and the Master Portfolio with respect to any portion of the 's or the Master Portfolio's assets estimated to be attributable to investments in other equity and fixed-income mutual funds and exchange-traded funds (ETFs) managed by BlackRock or its affiliates that have a contractual management fee, through January 31, The contractual agreement may be terminated upon 90 days' notice by a majority of the non-interested directors of the Corporation or the Master Portfolio or by a vote of a majority of the outstanding voting securities of the or the Master Portfolio. (3)BlackRock U.S. Total Bond Index - Class K Shares: BlackRock Advisors ("BFA"), the investment adviser for the Master Portfolio, has contractually agreed to waive its management fee by the amount of investment advisory fees the Master Portfolio pays to BFA indirectly through its investment in affiliated money market funds through April 30, The agreement may be terminated upon 90 days' notice by a majority of the non-interested trustees of MIP or by a vote of a majority of the outstanding voting securities of the Master Portfolio. As described in the "Management of the " section of the 's prospectus beginning on page 23, BFA has contractually agreed to waive the management fee with respect to any portion of the Master Portfolio's assets estimated to be attributable to investments in other equity and fixed-income mutual funds and exchange-traded funds managed by BFA or its affiliates that have a contractual management fee, through April 30, The contractual agreement may be terminated upon 90 days' notice by a majority of the non-interested trustees of MIP or by a vote of a majority of the outstanding voting securities of the Master Portfolio. Administration Fees have been restated to reflect current fees. The Total Annual Operating Expenses do not correlate to the ratio of expenses to average net assets given in the 's most recent annual report, which does not include Acquired Fees and Expenses or the restatement of Administration Fees to reflect current fees. Independent Expenses consist of the 's allocable portion of the fees and expenses of the independent trustees of the Trust and MIP, counsel to such independent trustees and the independent registered public accounting firm that provides audit services to the and the Master Portfolio. BlackRock Advisors, LLC ("BAL"), the administrator for the, and BFA have contractually agreed to reimburse, or provide offsetting credits to, the and the Master Portfolio, as applicable, for Independent Expenses through April 30, After giving effect to such contractual arrangements, Independent Expenses will be 0.00%. Such contractual arrangements may not be terminated prior to May 1, 2018 without the consent of the Boards of Trustees of the Trust and of MIP. (4)Investments in Target Retirement s are subject to the risks of their underlying funds. The year in the fund name refers to the approximate year (the target date) when an investor in the fund would retire and leave the work force. The fund will gradually shift its emphasis from more aggressive investments to more conservative ones based on its target date. An investment in the Target Retirement is not guaranteed at any time, including on or after the target date. (5)Franklin Growth - Advisor Class: The investment manager has contractually agreed in advance to reduce (waive) its fee for the next 12-month period as a result of the 's investment in a Franklin Templeton money fund (acquired fund). Contractual fee waiver and/or expense reimbursement agreements may not be changed or terminated during the time period set forth above. (6)VY Baron Growth Portfolio - Initial Class: The adviser is contractually obligated to limit expenses to 1.05% through May 1, The limitation does not extend to interest, taxes, investment-related costs, leverage expenses, extraordinary expenses, and Acquired Fees and Expenses. This limitation is subject to possible recoupment by the adviser within 36 months of the waiver or reimbursement. Termination or modification of this obligation requires approval by the Portfolio's board. (7)Voya SmallCap Opportunities Portfolio - Class I: The adviser is contractually obligated to limit expenses to 0.92% through May 1, The limitation does not extend to interest, taxes, investment-related costs, leverage expenses, extraordinary expenses, and Acquired Fees and Expenses. This limitation is subject to possible recoupment by the adviser within 36 months of the waiver or reimbursement. Termination or modification of this obligation requires approval by the Portfolio's board. (8)AllianzGI NFJ Small-Cap Value - Institutional Class: AllianzGI U.S. has contractually agreed to observe, through October 31, 2018, an irrevocable waiver of a portion of its administration fees (Management Fees in the table above consist of administration fees and advisory fees paid to AllianzGI U.S.), which reduces the contractual fee rate by 0.05%. Page 6 of 7

7 Additional Notes (9)VY Clarion Real Estate Portfolio - Institutional Class: The adviser is contractually obligated to limit expenses to 0.75% through May 1, The limitation does not extend to interest, taxes, investment-related costs, leverage expenses, extraordinary expenses, and Acquired Fees and Expenses. This limitation is subject to possible recoupment by the adviser within 36 months of the waiver or reimbursement. The adviser is contractually obligated to waive a portion of the management fee through May 1, The management fee waiver for the Portfolio is an estimated 0.04%. Termination or modification of these obligations requires approval by the Portfolio's board. Insurance products, annuities and funding agreements issued by Voya Retirement Insurance and Annuity Company, One Orange Way Windsor, CT 06095, (VRIAC), which is solely responsible for meeting its obligations. Plan administrative services provided by VRIAC or Voya Institutional Plan Services, LLC. All companies are members of the Voya family of companies. Securities are distributed by or offered through Voya Financial Partners, LLC (member SIPC) or other broker-dealers with which it has a selling agreement. The chart shows the performance for each investment option for the time periods shown. Creation : Thursday, August 02, 2018 Page 7 of 7