FIDUCIARY MONITORING REPORT

Transcription

1 SAMPLE # FIDUCIARY MONITORING REPORT SAMPLE PLAN Ending MM/DD/YYYY 2353 Alexandria Drive, Suite 100 Lexington, KY fax

2 Table of Contents 3 A Message from Our Founder 4 tes for your Fiduciary Monitoring Report 5 Executive Summary 6 Investment Balances 7 Fund Summary 8 Replacement Fund Reports 9 Investment Category Analysis 10 Performance Financial Market Review 14 Benchmarks 15 Model Portfolio Performance Comparison 16 Summary of Model Portfolio Holdings Investment Disclosure Required By DOL Reg b-2 19 Fund Menu Fund Reports 31 CEFEX Information Fiduciary Process 34 Downside Glossary 35 Disclosures

3 A Message from Our Founder For most of us, our retirement benefit will be the single largest purchase we make in our lifetime, far exceeding the cost of purchasing a home or paying for education. As Americans we tend to borrow for most large purchases in the form of mortgages, loans, etc., yet the one thing we can t borrow for is retirement. We must plan and save for retirement. Recent industry studies found that 75% of plan participants spend less than eight hours a year managing their retirement plan (half spend one hour or less) and only 25% of participants are on track to have an adequate benefit at retirement. The problem is that most retirement plans put too much responsibility on the employee. Few individuals know how to set a goal, join the plan, save more money as time goes on, invest sensibly, and monitor his or her outlook. Let s face it, most participants are not financial experts, yet currently their success depends solely on their ability to make expert-like decisions. I often like to say that people don t want to learn how to build a watch; they just want to know what time it is. The same can be said about retirement planning. Most people don t want or have the time to learn how to become a financial expert; they simply want a trusted financial expert to do it for them. This is where your advisor and Unified Trust enter into the equation. Our goal is to take something difficult, planning for retirement, and make it easy. Together, we deliver a holistic solution that combines effective defaults, highly personalized on-site service and prudent investment management. When you work with Unified Trust, you can trust that all of the right things are being done to help you achieve your goals. As one of only a handful of national independent trust companies in the country today, we fully accept our role as discretionary trustee which simply means that we are legally required to always act in your best interest and to always do so using a prudent expert standard of care. It means your goals are our goals! Sincerely, Gregory W. Kasten, MD, MBA, CFP, CPC, AIFA President and CEO Unified Trust Company

4 tes for your Fiduciary Monitoring Report The following pages of this document are your Fiduciary Monitoring Report for the quarter ending MMMM dd, yyyy. This report examines your asset allocation and account performance. It also provides due diligence detail for each individual fund you currently hold and includes each fund's corresponding Unified Fiduciary Monitoring Index (UFMI ) score. Your report also contains the fund's returns over the various time periods and compares those returns to their corresponding benchmark. Your account performance information is included in this report as well and we have compared your results to a matched benchmark. We feel this information is an important component in analyzing your account's total performance. Unified Trust Company has created the UFMI fund evaluation process based upon our propietary research and ranking system. The UFMI fiduciary scores range from 1 to 100, with a score of 1 being in the top 1%, a score of 10 being in the top 10%, etc. We are pleased to report to you that on a dollar weighted basis, 97% of your funds have an acceptable fiduciary score. Your overall dollar-weighted UFMI fiduciary score is 13. You have the following fund(s) on the Watch or Replacement List: T. Rowe Price Equity Income Replace Your Financial Advisor: Sample Contact Sample Address Sample Phone Sample Address

5 Executive Summary Plan Name: SAMPLE PLAN As of: M/D/YYYY

6 Investment Balances Fund Name Investment Category Balance % of Plan UFMI Score Qtr 1 Yr tes UTC Stable Value Trust Stable Value $3,147, % 2.44% Dodge and Cox Income Fund Intermediate-Term Bond $589, % 0.97% Vanguard Int Term Treasury Intermediate Government $57, % 2.36% UTC WPS Target Risk - Conv 1 Volatility Managed 8 $ % 1.92% UTC WPG Target Risk - Grth 1 Volatility Managed 12 $1,059, % -1.30% Vanguard Wellington Moderate Allocation $188, % 3.48% Fidelity Contra Fund Large Growth $484, % 10.29% Columbia Large Cap Index Z Large Blend $1,304, % 7.18% T. Rowe Price Equity Income Large Value $330, % -0.34% Replacement List Artisan MidCap Growth Fund Mid-Cap Growth $306, % 8.96% Columbia Mid Cap Index Z Mid-Cap Blend $548, % 6.20% Vanguard Selected Value Mid-Cap Value $279, % 1.16% Vanguard SmCp Gr Idx Small Growth $137, % 6.30% DFA US Small Cap I Small Blend $243, % 5.76% DFA US Targeted Value Small Value $252, % 1.37% Europacific Growth Fund - R5 Foreign Stock $456, % 0.93% American Beacon Intl Equity Instl Foreign Large Value $ % -3.88% Virtus Emerging Markets Opportunity I Diversified Emerging Mkts $31, % -3.57% T. Rowe Price Real Estate Real Estate $52, % 5.32% Other Assets: $ Cash Balance: $ Total: $9,472, Weighted Average UFMI 13

7 Fund Summary Watch List 0 The Watch List shows any fund with a failing UFMI Score for the current quarter. In your plan, a failing score is greater than 40. Any entry in this list indicates the fund is no longer in the top 40% of the investment category or peer group. There were no funds with a failing score this quarter only. Replacement List 1 The Replacement List shows any fund that has been on the Watch List for this quarter and the previous quarter. Funds on this list will be replaced with a successful fund in the same investment category. A special Replacement Fund report will print after this page for each fund on this list. The following funds have a failing score for the last two quarters: Failing Fund Needing Replacement: New Fund: DFA US Large Cap Value I T. Rowe Price Equity Income Plan Sponsor Action Required For Funds on the Replacement List, please follow the Trustee's instructions for fund replacement, including prompt distribution of any required communications with participants (notices and detailed instructions are sent electronically to the Plan Administrator). For funds on the Watch List, confer with your Plan Advisor now concerning any feedback or preferences you wish to pass on to Unified Trust. te that the time for such a feedback is during the "watch" period, as replacements are implemented as soon as practical once a fund appears on the Replacement List. Weighted Average UFMI Score 13 The Weighted Average UFMI Score for your plan is each fund's score weighted by the percentage of assets for each fund. It provides an overall snapshot of the total asset quality in your plan.

8 *** Replacement Fund *** DFA US Large Cap Value I Current UFMI Score: 3 Fund Performance vs. Category Median Fund Profile Investment Category Large Value Investment The investment seeks long-term capital appreciation. The U.S. Large Cap Value Portfolio is a Feeder Portfolio and pursues its objective by investing substantially all of its assets in its corresponding Master fund, The U.S. Large Cap Value Series (the "U.S. Large Cap Value Series") of The DFA Investment Trust Company (the "Trust"), which has the same investment objective and policies as the U.S. Large Cap Value Portfolio. As a non-fundamental policy, under normal circumstances, the U.S. Large Cap Value Series will invest at least 80% of its net assets in securities of large cap U.S. companies. Fund Performance History as of M/DD/YYYY Qtr 1 Yr 3 Yr 5 Yr DFA US Large Cap Value I 1.47% 3.83% 20.77% 18.33% Category Median -0.14% 3.61% 16.08% 15.21% Peer Group Risk Comparison Analysis * Downside Probability Rank See Reference page 1 for an explanation of these figures * Rank 1 = Best and 100 = Worst 5 6.9% Difference vs. Category 1.61% 0.22% 4.69% 3.12% Percent Rank in Category Average 4- UFMI Score Fund Assets in Millions Style Drift in Past 4 s Annual Portfolio Turnover Fund Expense Ratio 3 $15,706 DFLVX 19% 0.27% *The performance data displayed on this report represents past performance and does not guarantee future results. The investment return and principal will fluctuate and an investor s shares, when sold, may be worth more or less than their original cost.

9 Investment Category Analysis Investment Category Fund Name Balance Pct of Assets Pct of Category UFMI Score tes Stable Value Category Assets: $ 3,147, Pct of Total Assets: 33.2% UTC Stable Value Trust $ 3,147, % 100.0% 0 Intermediate-Term Bond Category Assets: $ 589, Pct of Total Assets: 6.2% Dodge and Cox Income Fund $ 589, % 100.0% 8 Intermediate Government Category Assets: $ 57, Pct of Total Assets: 0.6% Vanguard Int Term Treasury $ 57, % 100.0% 20 Volatility Managed 8 Category Assets: $ Pct of Total Assets: 0.0% UTC WPS Target Risk - Conv 1 $ % 100.0% 0 Volatility Managed 12 Category Assets: $ 1,059, Pct of Total Assets: 11.2% UTC WPG Target Risk - Grth 1 $ 1,059, % 100.0% 0 Moderate Allocation Category Assets: $ 188, Pct of Total Assets: 2.0% Vanguard Wellington $ 188, % 100.0% 4 Large Growth Category Assets: $ 484, Pct of Total Assets: 5.1% Fidelity Contra Fund $ 484, % 100.0% 27 Large Blend Category Assets: $ 1,304, Pct of Total Assets: 13.8% Columbia Large Cap Index Z $ 1,304, % 100.0% 11 Large Value Category Assets: $ 330, Pct of Total Assets: 3.5% T. Rowe Price Equity Income $ 330, % 100.0% 42 Replacement List Mid-Cap Growth Category Assets: $ 306, Pct of Total Assets: 3.2% Artisan MidCap Growth Fund $ 306, % 100.0% 24 Mid-Cap Blend Category Assets: $ 548, Pct of Total Assets: 5.8% Columbia Mid Cap Index Z $ 548, % 100.0% 11 Mid-Cap Value Category Assets: $ 279, Pct of Total Assets: 3.0% Vanguard Selected Value $ 279, % 100.0% 9 Small Growth Category Assets: $ 137, Pct of Total Assets: 1.5% Vanguard SmCp Gr Idx $ 137, % 100.0% 9 Small Blend Category Assets: $ 243, Pct of Total Assets: 2.6% DFA US Small Cap I $ 243, % 100.0% 1 Small Value Category Assets: $ 252, Pct of Total Assets: 2.7% DFA US Targeted Value $ 252, % 100.0% 4 Foreign Stock Category Assets: $ 456, Pct of Total Assets: 4.8% Europacific Growth Fund - R5 $ 456, % 100.0% 5 Foreign Large Value Category Assets: $ 4.46 Pct of Total Assets: 0.0% American Beacon Intl Equity Instl $ % 100.0% 1 Diversified Emerging Mkts Category Assets: $ 31, Pct of Total Assets: 0.3% Virtus Emerging Markets Opportunity I $ 31, % 100.0% 14 Real Estate Category Assets: $ 52, Pct of Total Assets: 0.6% T. Rowe Price Real Estate $ 52, % 100.0% 3

10 Performance SAMPLE PLAN Market Value at End of $ 9,472, Portfolio Performance vs. Benchmark Index Mix Portfolio Dollar Gain/Loss History Current $ 20, Year To Date $ 197, Past Year Past 3 Years Past 5 Years $ 283, $ 2,189, $ 3,162, How We Calculate Your Investment Return Portfolio Performance History as of MM/DD/YYYY Client Benchmark Blended Idx Difference vs. Benchmark CURR QTR 0.22% 0.00% 0.22% YTD 2.17% 1.61% 0.55% 1 YR 3.15% 3.27% -0.12% 3 YR 10.14% 9.52% 0.62% We calculate your investment return by first determining your net dollar gain for each quarterly time period. If you add or subtract money during the quarter, the net dollar gain calculation automatically takes the cash flow into consideration to give the correct net dollar gain. We next divide the net dollar gain figure by your adjusted beginning balance. Your adjusted beginning balance is your beginning balance at the start of the quarter adjusted by any cash flow during the quarter. If you add or withdraw dollars during the quarter they are proportionally added back to the beginning balance based on when the transaction occurred during the quarter. fees paid by the plan are included in this calculation. To obtain average annual returns over longer time periods we geometrically link all of your individual quarterly returns. Your benchmark is based upon your asset allocation at the beginning of the current quarter. 5 YR 10.18% 9.48% 0.70% Equity Blend Benchmark The Equity Blend is a 65/9/6% mix of US Large, Mid + Small Cap equities represented by the S+P 500, 400 and 600 Indexes respectively, plus a 20% Foreign equity represented by the MSCI EAFE Index. 59% Fixed Income Benchmark is the Barclays Aggregate Bond Index 9% The Unifed Success Pathway The Unified Success Pathway applies the "Three A's" of Retirement Success: Adequate Savings, Asset Allocation and Asset Quality. An intensive approach to participant success that combines effective defaults, on-site service and managed portfolios. Stable Value Benchmark is a 50/50 mix of the indexes listed below: Barclays US Treasury Bill 3-6 Month Yield Index Barclays US Treasury 1-3 Year Index te: Your historical benchmarks have been adjusted going back to the first quarter of 2006 if needed. 32% Advanced Fiduciary Process Plan fiduciaries, not participants, control the asset quality, and Unified Trust's fiduciary best practices process for selecting, monitoring and replacing plan investments has received nationwide attention for high quality and transparency.

11 FINANCIAL MARKET REVIEW FINANCIAL MARKET PERFORMANCE This quarter, equity returns have slowed down and bonds have sold off and delivered negative total returns. The S&P 500, consisting of large cap US stocks, returned +0.28% in the second quarter and the Barclays Aggregate US Bond Market Index lost 1.68%. The chart below shows the performance of various asset classes for the first six months of the year through mmmm dd, yyyy. This shouldn t concern the long-term investor. The drama unfolding in Greece has distracted the financial markets attention away from the positive domestic economic data released in mmmm. Unemployment held steady at 5.5% in May, not far above the 5% - 5.2% level the Fed considers full employment. Once reached, wage growth can be expected to accelerate. Real wages are 2% higher than this time last year and inflation remains below the Fed s target of 2%. Housing demand is showing strength but household spending is tepid. There is room for improvement in business investing while the strong US dollar is negatively impacting net exports. On balance, the Fed is running out of excuses to maintain a Fed Funds target rate of 0% 0.25% and will be under more pressure to modestly raise the rate at one of the upcoming FOMC meetings. One or two small rate increases that are telegraphed shouldn t necessarily be cause for concern for investors. Corporate profit margins remain at or near record levels and balance sheets are strong. Continued improvement in economic conditions will benefit most corporations even if costs increased modestly. Concerns about rate increases, Greece and the bear market in China contributed to weak equity returns for mmmm as nearly all domestic and international stock indices we monitor finished the month lower. Fortunately, 2nd quarter and year-to-date returns were modestly positive with emerging markets stocks and small-caps showing the biggest gains. Forecasts for improved economic growth in the 2nd half of the year could help.

12 ECONOMIC OUTLOOK Arguably, the most important key economic and financial market indicator to follow is the likelihood of the United States entering into a national recession. One leading probability indicator is the slope of the interest rate curve. The difference between long-term and short-term interest rates (the slope of the yield curve) has borne a consistent negative relationship with subsequent economic activity United States with a lead time of 4 to 6 quarters. These data are carefully followed and published by the United States Federal Reserve Banks ( FRED or Federal Reserve Economic Data). The measures of yield curve most frequently employed are based on the differences between the interest rates of Treasury securities, for instance the 10-year Treasury bond compared to the 3-month Treasury bill. The yield curve has predicted essentially every US recession since 1950 with only one false signal, which was preceded by a credit crunch and significant slowdown in There is also evidence that the predictive relationship exists in other countries, notably Germany, Canada and the United Kingdom. The current spread is +2.18%. As you can see in the nearby chart, recessions, which are highlighted in gray bars, tend to only occur when the spread is reduced to 0% or even turns negative (red line).

13 The Federal Reserve publishes the likelihood of recession over the next 12 months, shown in the nearby chart. The current likelihood of recession, published by the Federal Reserve Economic Data published, is just 1.7%, a very low probability of recession. Unified Trust recommends that investors maintain diversified portfolios with risk and reward characteristics consistent with their long-term goals. Market volatility may increase in the short-term, but long-term investing is a steady process.

14 Benchmarks Benchmark Investment Category QTR YTD 1 YR 3 YR 5 YR 10 YR Stable Value Composite Stable Value Barclays US Treasury Bill 3-6 Month Money Market Barclays 1-5 Yr Govt/Cred Short-Term Bond Barclays 1-3 Treasury Short Government Barclays US Aggregate Intermediate-Term Bond Barclays 5-10 Treasury Intermediate Government Barclays US Treasury US TIPS TR USD Inflation-Protected Bond BarCap Global Aggregate World Bond Russell 1000 Growth Large Growth Standard & Poor's 500 Large Blend Russell 1000 Value Large Value Russell Midcap Growth Mid-Cap Growth Standard & Poor's Midcap 400 Mid-Cap Blend Russell Midcap Value Mid-Cap Value Russell 2000 Growth Small Growth Standard & Poor's Smallcap 600 Small Blend Russell 2000 Value Small Value MSCI Eafe Ndtr_D Foreign Stock MSCI EAFE Value Foreign Large Value MSCI EAFE Small Cap Foreign Small/Mid Value MSCI EM Diversified Emerging Mkts MSCI World World Stock FTSE NAREIT All REITs TR Real Estate S&P GSCI Commodities Broad Basket % Equity Blend* / 100% Fixed Blend** Ultra Conservative % Equity Blend* / 80% Fixed Blend** Conservative % Equity Blend* / 60% Fixed Blend** Balanced % Equity Blend* / 40% Fixed Blend** Balanced % Equity Blend* / 20% Fixed Blend** Aggressive % Equity Blend* / 0% Fixed Blend** Ultra Aggressive Equity Blend* is a blend of securities consisting of 65% US Large Cap, 9% Mid-Cap and 6% Small Cap equities represented by the S&P 500, 400 and 600 Indexes respectively, plus a 20% Foreign equity represented by the MSCI EAFE Index. Fixed Blend** is a blend of three indexes consisting of 50% Barclays Aggregate Bond, 25% Barclays US Treasury Bill 3-6 Month Yield and 25% Barclays US Treasury Bill 1-3 Year.

15 Model Portfolio Performance Comparison Model Portfolio Performance Avg 1 Yr Avg 3 Yr Avg 5 Yr Benchmark Return Return Return Return Ultra Conservative 100 Portfolio % Equity Blend* / 100% Fixed Blend** Performance Above Benchmark Conservative Portfolio % Equity Blend* / 80% Fixed Blend** Performance Above Benchmark Balanced Portfolio % Equity Blend* / 60% Fixed Blend** Performance Above Benchmark Balanced Portfolio % Equity Blend* / 40% Fixed Blend** Performance Above Benchmark Aggressive Portfolio % Equity Blend* / 20% Fixed Blend** Performance Above Benchmark Ultra Aggressive 100 Portfolio % Equity Blend* / 0% Fixed Blend** Performance Above Benchmark Equity Blend* is a blend of securities consisting of 65% US Large Cap, 9% Mid-Cap and 6% Small Cap equities represented by the S&P 500, 400 and 600 Indexes respectively, plus a 20% Foreign equity represented by the MSCI EAFE Index. Fixed Blend** is a blend of three indexes consisting of 50% Barclays Aggregate Bond, 25% Barclays US Treasury Bill 3-6 Month Yield and 25% Barclays US Treasury Bill 1-3 Year. All indexes are listed on the previous page.

16 Summary of Model Portfolio Holdings Fund Allocations By Model Portfolio Ultra Conservative 100 Portfolio 100% Fixed Conservative 20/80 Portfolio 80% Fixed 60% Fixed Balanced 40/60 Portfolio 0% Equity 20% Equity 40% Equity Balanced 60/40 Portfolio Aggressive 80/20 Portfolio Ultra Aggressive 100 Portfolio 40% Fixed 20% Fixed 0% Fixed 60% Equity 80% Equity 100% Equity Investment Category Security Name 0/100 20/80 40/60 60/40 80/20 100/0 UTCSV Stable Value UTC Stable Value Trust 50.0% 40.0% 30.0% 20.0% 10.0% 0.0% DODIX Intermediate-Term Bond Dodge and Cox Income Fund 50.0% 40.0% 30.0% 20.0% 10.0% 0.0% FCNTX Large Growth Fidelity Contra Fund 0.0% 3.0% 5.0% 7.0% 9.0% 11.0% NINDX Large Blend Columbia Large Cap Index Z 0.0% 6.0% 14.0% 22.0% 32.0% 43.0% PRFDX Large Value T. Rowe Price Equity Income 0.0% 5.0% 8.0% 11.0% 12.0% 13.0% ARTMX Mid-Cap Growth Artisan MidCap Growth Fund 0.0% 0.0% 1.0% 1.0% 1.0% 2.0% NMPAX Mid-Cap Blend Columbia Mid Cap Index Z 0.0% 1.0% 3.0% 4.0% 5.0% 6.0% VASVX Mid-Cap Value Vanguard Selected Value 0.0% 1.0% 1.0% 2.0% 3.0% 4.0% DFSTX Small Blend DFA US Small Cap I 0.0% 0.0% 1.0% 1.0% 1.0% 1.0% DFFVX Small Value DFA US Targeted Value 0.0% 0.0% 1.0% 1.0% 2.0% 2.0% RERFX Foreign Stock Europacific Growth Fund - R5 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% HIEMX Diversified Emerging Mkts Virtus Emerging Markets Opportunity I 0.0% 0.0% 0.0% 2.0% 3.0% 3.0% TRREX Real Estate T. Rowe Price Real Estate 0.0% 2.0% 2.0% 3.0% 4.0% 5.0%

17 Investment Disclosure Required by DOL Regulation b-2 Fund Investment Information as of MMMM dd, yyyy Fund Name/ Investment Expense Ratio* Revenue Shareholder- Average Annual Returns Since Inception Benchmark Category As a % Per $1000 Share Type Fees* 5 Year 10 Year Return/Date UTC Stable Value Trust Stable Value 0.65% % 2.44% 2.65% 3.47% 3.86% Stable Value Composite 0.47% 0.45% 1.93% 06/01/2001 Dodge and Cox Income Fund Intermediate-Term Bond 0.44% % 0.97% 4.31% 5.12% 7.10% Barclays US Aggregate 1.86% 3.35% 4.44% 01/03/1989 Vanguard Int Term Treasury Intermediate Government 0.20% % 2.36% 2.91% 4.50% 6.14% Barclays 5-10 Treasury 2.65% 3.10% 4.57% 10/28/1991 UTC WPS Target Risk - Conv 1 Volatility Managed % % 1.92% 7.70% 40% Equity Blend / 60% Fixed Blend 2.68% 7.50% 4.94% 11/02/2012 UTC WPS Target Risk - Mod 1 Volatility Managed % % 1.10% 9.77% 60% Equity Blend / 40% Fixed Blend 3.44% 10.29% 5.83% 11/02/2012 UTC WPG Target Risk - Grth 1 Volatility Managed % % -1.30% 10.12% 80% Equity Blend / 20% Fixed Blend 4.20% 13.09% 6.71% 11/02/2012 Vanguard Wellington Moderate Allocation 0.26% % 3.48% 12.07% 7.88% 8.23% 60% Equity Blend / 40% Fixed Blend 3.44% 10.29% 5.83% 07/01/1929 Fidelity Contra Fund Large Growth 0.64% % 10.29% 17.11% 9.85% 12.50% Russell 1000 Growth 10.56% 18.59% 9.10% 05/17/1967 Columbia Large Cap Index Z Large Blend 0.20% % 7.18% 17.12% 7.74% 9.03% Standard & Poor's % 17.34% 7.89% 12/15/1993 T. Rowe Price Equity Income Large Value 0.66% % -0.34% 14.30% 6.69% 10.93% Russell 1000 Value 4.13% 16.50% 7.05% 10/31/1985 Artisan MidCap Growth Fund Mid-Cap Growth 1.20% % 8.96% 19.29% 11.16% 14.21% Russell Midcap Growth 9.45% 18.69% 9.69% 06/27/1997 Columbia Mid Cap Index Z Mid-Cap Blend 0.20% % 6.20% 17.60% 9.60% 8.72% Standard & Poor's Midcap % 17.82% 9.74% 03/31/2000 Vanguard Selected Value Mid-Cap Value 0.41% % 1.16% 17.12% 8.73% 9.20% Russell Midcap Value 3.67% 17.73% 8.89% 02/15/1996 Vanguard SmCp Gr Idx Small Growth 0.23% % 6.30% 18.63% 10.11% 8.79% Russell 2000 Growth 12.34% 19.33% 9.86% 05/21/1998 DFA US Small Cap I Small Blend 0.37% % 5.76% 18.45% 9.43% 10.86% Standard & Poor's Smallcap % 18.44% 9.28% 03/19/1992 DFA US Targeted Value Small Value 0.37% % 1.37% 17.45% 8.55% 12.21% Russell 2000 Value 0.78% 14.81% 6.87% 02/23/2000 Europacific Growth Fund - R5 Foreign Stock 0.53% % 0.93% 10.07% 7.66% 8.30% MSCI Eafe Ndtr_D -4.22% 9.54% 5.12% 05/15/2002 American Beacon Intl Equity Instl Foreign Large Value 0.70% % -3.88% 10.42% 5.56% 7.76% MSCI EAFE Value -7.09% 8.93% 4.37% 08/07/1991 Virtus Emerging Markets Opportunity I Diversified Emerging Mkts 1.30% % -3.57% 7.33% 10.51% 7.17% MSCI EM -5.12% 3.68% 8.11% 10/20/1997 T. Rowe Price Real Estate Real Estate 0.76% % 5.32% 14.54% 7.13% 9.98% FTSE NAREIT All REITs TR 3.75% 14.14% 6.41% 10/31/1997 PIMCO Commodity Real Ret Strat Admin Commodities Broad Basket 0.99% % % -2.49% -1.40% 1.90% S&P GSCI % -4.33% -6.25% 02/14/2003

18 Investment Disclosure Required by DOL Regulation b-2 Fund Investment Information as of MMMM dd, yyyy Fund Name/ Investment Expense Ratio* Revenue Shareholder- Average Annual Returns Since Inception Benchmark Category As a % Per $1000 Share** Type Fees*** 5 Year 10 Year Return/Date Ultra Conservative 100 Model Portfolio 0.55% % 1.71% 3.48% 0% Equity Blend / 100% Fixed Blend 1.16% 1.90% Conservative Model Portfolio 0.53% % 2.29% 5.88% 20% Equity Blend / 80% Fixed Blend 1.92% 4.70% Balanced Model Portfolio 0.51% % 3.02% 8.43% 40% Equity Blend / 60% Fixed Blend 2.68% 7.50% Balanced Model Portfolio 0.50% % 3.52% 10.71% 60% Equity Blend / 40% Fixed Blend 3.44% 10.29% Aggressive Model Portfolio 0.47% % 4.22% 13.16% 80% Equity Blend / 20% Fixed Blend 4.20% 13.09% Ultra Aggressive 100 Model Portfolio 0.44% % 5.11% 15.72% 100% Equity Blend / 0% Fixed Blend 4.96% 15.89% * Expense Ratio is the fund's Annual Report Net Expense Ratio which is the percentage of fund assets used to pay for operating expenses and management fees, including 12b-1 fees, administrative fees, and all other asset-based costs incurred by the fund, except brokerage costs. The expense ratio is obtained from the Annual Report - an audited trailing perspective. ** Revenue Sharing. Unified follows the Frost Model (set forth in the DOL Advisory Opinion 97-15A) of 100% fee recapture, whereby all revenue sharing payments it receives from the mutual funds or investment managers is used to offset Unified s Fees dollar-for-dollar, with any excess being returned to the Plan. *** Shareholder-type fees list any additional fees that may be charged directly to your investment and which are not already included in the total annual operating expenses of the investment option (e.g. redemption fees, contingent deferred sales charges, surrender charges, etc.). For a more complete description of the shareholder-type fees, please review the fund's prospectus which is available by accessing your account at or upon request by contacting Unified Trust Company, N.A. Customer Service Center at (toll free) or M-F 9am-5pm ET. Performance figures are those published by the underlying mutual funds or collective investment funds net of internal fund fees but not including external costs such as trustee fees, recordkeeping fees, or investment advisory fees. The actual performance of a client portfolio is dependent on the total fees deducted from the portfolio and the timing of cash flows in and out of the portfolio. Fees and expenses are only one of several factors that participants and beneficiaries should consider when making investment decisions. The cumulative effect of fees and expenses can substantially reduce the growth of a participant s or beneficiary s retirement account. Participants and beneficiaries can visit the Employee Benefit Security Administration s Web site for an example demonstrating the long-term effect of fees and expenses. A glossary of terms to assist participants and beneficiaries in understanding the plan s designated investment alternatives can be found at the website: Past performance does not guarantee how an investment will perform in the future. Your investment in any of the funds could lose money. Investment products (including mutual funds) and insurance products involve risk and may lose value. Investment and insurance products are not FDIC insured or insured by any Federal government agency and are not deposits of, guaranteed or insured by Unified Trust. 2015, Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

19 Investment Category Stable Value Security Name UFMI Score 1 Year 3 Year 5 Year 10 Year Expense Ratio Revenue Share UTCSV UTC Stable Value Trust 2.44% 2.45% 2.65% 3.47% 0.65% 0.25% Intermediate-Term Bond DODIX Dodge and Cox Income Fund % 3.22% 4.31% 5.12% 0.44% 0.08% Intermediate Government VFITX Vanguard Int Term Treasury % 0.88% 2.91% 4.50% 0.20% 0.00% Volatility Managed 8 WPC1F UTC WPS Target Risk - Conv % 0.25% 0.00% Volatility Managed 10 WPM1F UTC WPS Target Risk - Mod % 0.19% 0.00% Volatility Managed 12 WPG1F UTC WPG Target Risk - Grth % 0.19% 0.00% Moderate Allocation VWELX Vanguard Wellington % 11.69% 12.07% 7.88% 0.26% 0.00% Large Growth FCNTX Fidelity Contra Fund % 17.42% 17.11% 9.85% 0.64% 0.00% Large Blend Large Value NINDX Columbia Large Cap Index Z % 17.06% 17.12% 7.74% 0.20% 0.10% PRFDX T. Rowe Price Equity Income % 14.14% 14.30% 6.69% 0.66% 0.15% Mid-Cap Growth ARTMX Artisan MidCap Growth Fund % 17.93% 19.29% 11.16% 1.20% 0.35% Mid-Cap Blend NMPAX Columbia Mid Cap Index Z % 18.36% 17.60% 9.60% 0.20% 0.10% Mid-Cap Value VASVX Vanguard Selected Value % 19.00% 17.12% 8.73% 0.41% 0.00% Small Growth VISGX Vanguard SmCp Gr Idx % 17.93% 18.63% 10.11% 0.23% 0.00% Small Blend Small Value DFSTX DFA US Small Cap I % 19.24% 18.45% 9.43% 0.37% 0.00% DFFVX DFA US Targeted Value % 19.81% 17.45% 8.55% 0.37% 0.00% Foreign Stock RERFX Europacific Growth Fund - R % 12.65% 10.07% 7.66% 0.53% 0.05% Foreign Large Value AAIEX American Beacon Intl Equity Instl % 12.83% 10.42% 5.56% 0.70% 0.00% Diversified Emerging Mkts HIEMX Virtus Emerging Markets Opportunity I % 3.07% 7.33% 10.51% 1.30% 0.25% Real Estate Plan Name: SAMPLE PLAN Fund Menu Investment Selections and Returns as of MMMM dd, yyyy TRREX T. Rowe Price Real Estate % 8.98% 14.54% 7.13% 0.76% 0.25% Commodities Broad Basket PCRRX PIMCO Commodity Real Ret Strat Admin % % -2.49% -1.40% 0.99% 0.25% Average 0.51% 0.09%

20 UTC Stable Value Trust Category: Stable Value UFMI : Data as of: MM/DD/YY The Stable Value Trust seeks stability of principal and a high level of current income consistent with a 2-3 year average maturity. The trust is a tax-exempt trust invested primarily in investment contracts issued by insurance companies, high grade bonds, commercial bank deposits, and similar types of fixed-principal investments. UTCSV $ % 0% 0.25% 3 Year 5 Year 0.62% 2.44% 2.45% 2.65% Dodge and Cox Income Fund Category: Intermediate-Term Bond UFMI : 8 Data as of: MM/DD/YY The investment seeks a high and stable rate of current income, consistent with long -term preservation of capital. The fund invests in a diversified portfolio of high-quality bonds and other debt securities. rmally, the fund will invest at least 80% of its total assets in the following categories: debt obligations issued or guaranteed by the U.S. government, its agencies or GSEs; investment-grade debt securities; unrated securities if deemed to be of investment-grade quality by Dodge & Cox; and bankers' acceptances, bank certificates of deposit, repurchase agreements, and commercial paper. DODIX $44, % 27% 0.08% -1.19% 0.97% 61 3 Year 3.22% 17 5 Year 4.31% %

21 Vanguard Int Term Treasury Category: Intermediate Government UFMI : 20 Data as of: MM/DD/YY The investment seeks to provide a moderate and sustainable level of current income. The fund invests at least 80% of its assets in U.S. Treasury securities, which include bills, bonds, and notes issued by the U.S. Treasury. It is expected to maintain a dollar-weighted average maturity of 5 to 10 years. VFITX $5, % 63% 0.00% -1.07% 2.36% 12 3 Year 0.88% 57 5 Year 2.91% % UTC WPS Target Risk - Conv 1 Category: Volatility Managed 8 UFMI : Data as of: MM/DD/YY This investment seeks capital growth and income consistent with the Fund s current asset allocation of 50% equity allocation and 50% fixed income allocation. The Fund invests in a combination of exchange traded funds that track broad market exposures, exchange traded futures contracts, and money market assets. The Fund utilizes Milliman Inc. as a sub-advisor to overlay a risk management technique designed to manage volatility and capital protect the fund against severe market declines. A general perspective is for the fund to participate in 65% to 80% of the growth (equity market increases) of the underlying portfolio and only 20%- 35% of the loss (equity market decline) of the portfolio. WPC1F 0.25% 30% 0.00% 3 Year 5 Year -0.81% 1.92%

22 UTC WPS Target Risk - Mod 1 Category: Volatility Managed 10 UFMI : Data as of: MM/DD/YY This investment seeks capital growth and income consistent with the Fund s current asset allocation of 70% equity allocation and 30% fixed income allocation. The Fund invests in a combination of exchange traded funds that track broad market exposures, exchange traded futures contracts, and money market assets. The Fund utilizes Milliman Inc. as a sub-advisor to overlay a risk management technique designed to manage volatility and capital protect the fund against sever market declines. A general perspective is for the fund to participate in 65% to 80% of the growth (equity market increases) of the underlying portfolio and only 20%- 35% of the loss (equity market decline) of the portfolio. WPM1F 0.19% 34% 0.00% 3 Year 5 Year -0.39% 1.10% UTC WPG Target Risk - Grth 1 Category: Volatility Managed 12 UFMI : Data as of: MM/DD/YY This investment seeks capital growth and income consistent with the Fund s current asset allocation of 85% equity allocation and 15% fixed income allocation. The Fund invests in a combination of exchange traded funds that track broad market exposures, exchange traded futures contracts, and money market assets. The Fund utilizes Milliman Inc. as a sub-advisor to overlay a risk management technique designed to manage volatility and capital protect the fund against severe market declines. A general perspective is for the fund to participate in 65% to 80% of the growth (equity market increases) of the underlying portfolio and only 20%- 35% of the loss (equity market decline) of the portfolio. WPG1F 0.19% 22% 0.00% 3 Year 5 Year -0.39% -1.30%

23 Vanguard Wellington Category: Moderate Allocation UFMI : 4 Data as of: MM/DD/YY The investment seeks to provide long-term capital appreciation and moderate current income. The fund invests 60% to 70% of its assets in dividend-paying and, to a lesser extent, non-dividend-paying common stocks of established large companies. The remaining 30% to 40% of the fund's assets are invested mainly in fixed income securities that the advisor believes will generate a moderate level of current income. These securities include investment-grade corporate bonds, with some exposure to U.S. Treasury and government agency bonds, and mortgage-backed securities. VWELX $88, % 71% 0.00% -0.54% 3.48% 28 3 Year 5 Year 11.69% 12.07% % Fidelity Contra Fund Category: Large Growth UFMI : 27 Data as of: MM/DD/YY The investment seeks capital appreciation. The fund normally invests primarily in common stocks. It invests in securities of companies whose value the advisor believes is not fully recognized by the public. The fund invests in domestic and foreign issuers. It invests in either "growth" stocks or "value" stocks or both. The fund uses fundamental analysis of factors such as each issuer's financial condition and industry position, as well as market and economic conditions to select investments. FCNTX $111, % 45% 0.00% 1.00% 10.29% 44 3 Year 17.42% 55 5 Year 17.11% %

24 Columbia Large Cap Index Z Category: Large Blend UFMI : 11 Data as of: MM/DD/YY The investment seeks total return before fees and expenses that corresponds to the total return of the Standard & Poor's (S&P) 500 Index. Under normal circumstances, the fund invests at least 80% of its net assets (including the amount of any borrowings for investment purposes) in common stocks that comprise the S&P 500 Index (the index). In seeking to match the performance of the index, the Investment Manager attempts to allocate the fund's assets among common stocks in approximately the same weightings as the index. The fund may invest in derivatives, consisting of stock index futures, as substitutes for the underlying securities in the index. NINDX $3, % 5% 0.10% 3 Year 5 Year 0.22% 7.18% 17.06% 17.12% % T. Rowe Price Equity Income Category: Large Value UFMI : 42 Data as of: MM/DD/YY The investment seeks a high level of dividend income and long-term capital growth primarily through investments in stocks. The fund will normally invest at least 80% of its net assets (including any borrowings for investment purposes) in common stocks, with an emphasis on large -capitalization stocks that have a strong track record of paying dividends or that are believed to be undervalued. It generally seeks investments in largecapitalization companies and the fund's yield, which reflects the level of dividends paid by the fund, is expected to normally exceed the yield of the S&P 500 Stock Index. PRFDX $28, % 10% 0.15% -0.57% -0.34% 89 3 Year 5 Year 14.14% 14.30% %

25 Artisan MidCap Growth Fund Category: Mid-Cap Growth UFMI : 24 Data as of: MM/DD/YY The investment seeks maximum long-term capital growth. The fund normally invests no less than 80% of its net assets plus any borrowings for investment purposes at market value at the time of purchase in the common stocks of medium-sized companies. It defines a medium-sized company as one with a market capitalization greater than the market capitalization of the smallest company in the Russell Midcap Index and less than three times the weighted average market capitalization of companies in the index. ARTMX $9, % 55% 0.35% 1.61% 8.96% 51 3 Year 17.93% 41 5 Year 19.29% % Columbia Mid Cap Index Z Category: Mid-Cap Blend UFMI : 11 Data as of: MM/DD/YY The investment seeks total return before fees and expenses that corresponds to the total return of the Standard & Poor's (S&P) MidCap 400 Index. The fund invests at least 80% of its net assets (including the amount of any borrowings for investment purposes) in common stocks that comprise the S&P MidCap 400 Index. In seeking to match the performance of the index, the Investment Manager attempts to allocate the fund's assets among common stocks in approximately the same weightings as the index. It attempts to achieve at least a 95% correlation between the performance of the index and the fund's investment results, before fees and expenses. NMPAX $3, % 13% 0.10% 3 Year 5 Year -1.12% 6.20% 18.36% 17.60% %

26 Vanguard Selected Value Category: Mid-Cap Value UFMI : 9 Data as of: MM/DD/YY The investment seeks long-term capital appreciation and income. The fund invests mainly in the stocks of mid-size U.S. companies, choosing stocks considered by an advisor to be undervalued. Undervalued stocks are generally those that are out of favor with investors and are trading at prices that the advisor feels are below average in relation to measures such as earnings and book value. These stocks often have above-average dividend yields. It uses multiple investment advisors. VASVX $10, % 18% 0.00% 1.15% 1.16% 75 3 Year 5 Year 19.00% 17.12% % Vanguard SmCp Gr Idx Category: Small Growth UFMI : 9 Data as of: MM/DD/YY The investment seeks to track the performance of a benchmark index that measures the investment return of small-capitalization growth stocks. The fund employs an indexing investment approach designed to track the performance of the CRSP US Small Cap Growth Index, a broadly diversified index of growth stocks of small U.S. companies. The advisor attempts to replicate the target index by investing all, or substantially all, of its assets in the stocks that make up the index, holding each stock in approximately the same proportion as its weighting in the index. VISGX $17, % 26% 0.00% 0.27% 6.30% 77 3 Year 17.93% 53 5 Year 18.63% %

27 DFA US Small Cap I Category: Small Blend UFMI : 1 Data as of: MM/DD/YY The investment seeks long-term capital appreciation. The fund, using a market capitalization weighted approach, purchases a broad and diverse group of readily marketable securities of U.S. small cap companies. A company's market capitalization is the number of its shares outstanding times its price per share. In general, the higher the relative market capitalization of the U.S. small cap company, the greater its representation in the Portfolio. DFSTX $10, % 9% 0.00% 0.38% 5.76% 43 3 Year 5 Year 19.24% 18.45% % DFA US Targeted Value Category: Small Value UFMI : 4 Data as of: MM/DD/YY The investment seeks long-term capital appreciation. The U.S. Targeted Value Portfolio, using a market capitalization weighted approach, purchases a broad and diverse group of the readily marketable securities of U.S. small and mid cap companies that the Advisor determines to be value stocks. The U.S. Targeted Value Portfolio may use derivatives, such as futures contracts and options on futures contracts for U.S. equity securities and indices, to adjust market exposure based on actual or expected cash inflows to or outflows from the Portfolio. DFFVX $6, % 10% 0.00% 0.05% 1.37% 54 3 Year 5 Year 19.81% 17.45% %

28 Europacific Growth Fund - R5 Category: Foreign Stock UFMI : 5 Data as of: MM/DD/YY The investment seeks long-term growth of capital. The fund invests primarily in common stocks of issuers in Europe and the Pacific Basin that the investment adviser believes have the potential for growth. Growth stocks are stocks that the investment adviser believes have the potential for aboveaverage capital appreciation. It normally invests at least 80% of its net assets in securities of issuers in Europe and the Pacific Basin. The fund may invest a portion of its assets in common stocks and other securities of companies in emerging markets. RERFX $131, % 28% 0.05% 1.10% 0.93% 18 3 Year 5 Year 12.65% 10.07% % American Beacon Intl Equity Instl Category: Foreign Large Value UFMI : 1 Data as of: MM/DD/YY The investment seeks long-term capital appreciation. The fund normally invests at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in common stocks and securities convertible into common stocks (collectively, "stocks") of issuers based in at least three different countries located outside the United States. It primarily invests in countries comprising the Morgan Stanley Capital International Europe Australasia Far East Index ("MSCI EAFE Index"). The MSCI EAFE Index is comprised of equity securities of companies from various industrial sectors whose primary trading markets are located outside the United States. AAIEX $2, % 23% 0.00% 1.44% -3.88% 26 3 Year 5 Year 12.83% 10.42% %

29 Virtus Emerging Markets Opportunity I Category: Diversified Emerging Mkts UFMI : 14 Data as of: MM/DD/YY The investment seeks capital appreciation. The fund offers investors exposure to emerging economies through wellestablished companies. Under normal circumstances, it invests at least 80% of its assets in equity securities or equity-linked instruments of issuers located in emerging markets countries; such issuers may be of any capitalization. Emerging markets countries generally include every nation in the world except the U.S., Canada, Japan, Australia, New Zealand and most nations located in Western Europe. HIEMX $10, % 28% 0.25% -1.39% -3.57% 25 3 Year 3.07% 52 5 Year 7.33% % T. Rowe Price Real Estate Category: Real Estate UFMI : 3 Data as of: MM/DD/YY The investment seeks long-term growth through a combination of capital appreciation and current income. The fund normally invests at least 80% of its net assets (including any borrowings for investment purposes) in the equity securities of real estate companies. It is likely to maintain a significant portion of assets in real estate investment trusts (REITs). REITs pool money to invest in properties (equity REITs) or mortgages (mortgage REITs). The fund generally invests in equity REITs. TRREX $5, % 3% 0.25% 3 Year 5 Year -9.89% 5.32% 8.98% 14.54% %

30 PIMCO Commodity Real Ret Strat Admin Category: Commodities Broad Basket UFMI : Data as of: MM/DD/YY The investment seeks maximum real return, consistent with prudent investment management. The fund seeks to achieve its investment objective by investing under normal circumstances in commodity-linked derivative instruments backed by a portfolio of inflation-indexed securities and other Fixed Income Instruments. "Fixed Income Instruments" include bonds, debt securities and other similar instruments issued by various U.S. and non-u.s. public- or private-sector entities. It will seek to gain exposure to the commodity markets primarily through investments in leveraged or unleveraged commodity index-linked notes. PCRRX $9, % 123% 0.25% 3 Year 4.80% % % Year -2.49% 36

31 Unified Trust Company Was Again Re-Certified by CEFEX for Fiduciary Excellence Unified Trust was the first trustee to be certified by CEFEX, Centre for Fiduciary Excellence, for fiduciary best practices. We were re-certified for discretionary investment services provided in a trust environment for trustee-directed and participant-directed plans and individual investors. This is the seventh consecutive year of our certification to these best practices. The annual certification process involves a detailed assessment of operational data and procedures, followed by on-site interviews with key personnel. Unified Trust is registered at where the registration certificate can also be viewed at A fiduciary must be loyal to the client 100% of the time, and have no conflicts of interests, said Dr. Gregory Kasten, the CEO of Unified Trust Company, NA. In addition, the fiduciary must employ the prudent expert operating process. Why Does Unified Trust Continue To Hold Independent Fiduciary Certification? Investors and retirement plan sponsors are best served if their advisors always act in the best interest of the client. In an environment of increasing anxiety and litigation, trust in the asset manager is more important than ever. Stewards of retirement plans, foundations and trusts are looking for proof of their investment firm s integrity and due diligence process. The assessment is conducted by an independent CEFEX Analyst. The analyst has achieved the Accredited Investment Fiduciary Analyst (AIFA ) designation from the Center for Fiduciary Studies, has extensive industry experience and has access to CEFEX subject matter experts as required. Fiduciary Best Practices describe how an Investment Advisor assumes the responsibility for managing a client s overall investment strategy: deciding on the client s asset allocation, developing the client s investment strategy, implementing the strategy with appropriate Investment Managers, avoiding conflicts of interest and monitoring the strategy on an ongoing basis. The CEFEX Fiduciary Certification is an independent recognition that Unified Trust has day to day conformity of all Fiduciary Practices and Criteria. It implies that, as a fiduciary, Unified Trust can demonstrate adherence to the industry s best practices, and is worthy to receive the public s trust and business. About CEFEX and fi360 CEFEX is an independent rating and certification organization. CEFEX works closely with the investment community and the fiduciary industry to provide comprehensive assessments that measure risk and trust-worthiness of investment fiduciaries. fi360 helps its clients gather, grow, and protect assets through better investment and business decision-making. Their Prudent Practices for Investment Fiduciaries handbook series defines the details of an investment process that fulfills the major investment fiduciary responsibilities. fi360 also provides investment education and training programs that result in the Accredited Investment Fiduciary (AIF ) and Accredited Investment Fiduciary Analyst (AIFA ) professional designations and is the developer of web-based analytical and reporting software for fiduciaries and investment professionals. In addition, fi360 provides ongoing support to the investment community through resources such as a blog, quarterly webinars and an annual national conference. According to the CEFEX general manager, Carlos Panksep, Through independent assessment, the certification provides assurance to investors both institutional and individual, that Unified Trust Company has demonstrated adherence t the industry s best fiduciary practices. This indicates that the firm s interests are aligned with those of investors. The Fiduciary Practices are substantiated by legislation, case law and regulatory opinion letters which includes the Employee Retirement Income Security Act (ERISA), Uniform Prudent Investor Act (UPIA), Uniform Prudent Management of Institutional Funds Act (UPMIFA), Uniform Management of Public Employees Retirement Systems Act (MPERS), and Investment Advisors Act of A complete list of the Fiduciary Practices is available at

32 Unified Trust Historical Asset Weighted Performance December 31, 2002 to MMMM dd, YYYY Analysis This analysis is a comparison of the quarterly dollar weighted performance of all of Unified Trust's qualified defined contribution plan assets versus either the Morningstar Moderate Allocation Category or respective Morningstar Category Average (at the individual fund level) since March 31, 2002, which is the earliest time period for which individual plan asset allocation data is available for Unified Trust. According to morningstar.com, Moderate Allocation funds typically have between 50% and 70% of assets in equities and the remainder in fixed income and cash. The dollar weighted equity allocation of Unified Trust's 401(k) clients have historically ranged between 50% and 70%, making the Moderate Allocation Category a reasonable proxy for Unified Trust s composite equity allocation. Individual fund performance is determined by comparing the performance of Unified Trust's holdings to the performance of the respective Morningstar Category for each fund for each respective quarter on a rolling basis. The average percentile versus the Morningstar Moderate Allocation Category has been 41 and the average annual outperformance versus Category Averages has been 1.01%. Relative Asset Allocation Performance Investment Selection Outperformance Disclosures 1. Past performance is no guarantee of future results. The investments are not FDIC insured. 2. Unified Trust's dollar weighted performance was calculated on a quarterly basis for all mutual funds and collective trusts held by 401(k) participants. Self-directed assets were not included in the calculation. 3. Data obtained from Unified Trust Company mutual fund fiduciary database. Underlying raw data from Morningstar. 4. Copyright 2015 Unified Trust Company, NA All Rights Reserved.