Notice of Investment Returns & Fee Comparison

Transcription

1 Notice of Returns & Fee Comparison TAYLOR TRUCK LINE INC. 401(K) PLAN empowermyretirement.com Your employer-sponsored retirement savings plan allows eligible employees to invest for their retirement. These plans can be valuable in helping participants reach their retirement savings goals. The goal is to build your account through additional contributions and investment returns in your plan. Fees and expenses related to your plan can affect the overall long-term value of your account. The investment options you choose also affect your account. It is important for you to have a clear understanding of the investment options available through your plan and the fees and expenses that are part of your plan. This notice includes information to help you understand plan costs and compare your retirement plan's investment options. It was designed to meet the participant fee disclosure regulations of the United States Department of Labor (DOL). For more information on the plan's investment options including investment objectives or goals, principal strategies and risks, portfolio turnover rate, current returns and expenses, please visit the Participant website listed above. This website also includes educational information and tools designed to help you with making investment decisions. Additional information on the plan's investment options is also available on the Participant website which may include prospectuses or similar documents and fund reports to the extent applicable and fund share/unit valuations. Paper copies of the investment related information available on the Participant website can be obtained at no cost by contacting Empower Retirement at: Empower Retirement P.O. Box Denver, CO Participant Call Center: SECTION Document Summary Rate of Return and Expense Information - Shows investment return information for your plan's investment options. It shows past performance, investment management expenses and General Administrative Services Expenses. Other -Related Fees, Expense Information and Transfer Restrictions - Shows any fees and expenses that are in addition to the investment management expenses in Section 1. This section also shows any investment restrictions. Plan-Related Information - Shows your Plan Related information and the General Administrative Services Expenses and Participant Elected Services Expenses tables. The General Administrative Services Expenses table shows non-investment expenses that pay for operating your Plan. The Participant Elected Services Expenses table shows expenses for optional services available through your Plan that may be charged to your individual account for the services you use. 1 Rate of Return and Expense Information Variable Rate of Return s Table This table looks at the rates of return from investments that increase and decrease in value. The table shows how these investments have performed over time. You can compare each investment option to a benchmark. Past performance does not guarantee how the investment option will perform in the future. Your investment in these options could lose money. Information about an investment option s principal risks is available on the Web site listed above. Variable Return s Averaged Annualized Total Return as of 01/31/2018 Option Ticker 3 mos YTD 1 year 3 year 5 year Asset Allocation T. Rowe Price Balanced R 1,2 RRTIX 3.10% 1.79% 10.30% 5.37% 5.23% $48.20 per 4.82% 1.06%/1.06% $10.60 per Gross Page 1 of 7

2 Option Ticker 3 mos YTD 1 year 3 year 5 year S&P Target Risk Conservative TR 4.25% 2.20% 1.13% 10.10% 4.80% 4.88% $42.50 per T. Rowe Price 2010 R 1,2 RRTAX 3.41% 1.93% 11.59% 6.06% 6.29% $53.50 per S&P Target Date 2010 TR 5.35% 1.07%/1.07% 4.96% 3.13% 1.45% 10.43% 5.49% 5.87% $49.60 per T. Rowe Price 2020 R 1,2 RRTBX 4.88% 3.06% 16.39% 8.13% 8.54% $64.40 per S&P Target Date 2020 TR $10.70 per Gross 6.44% 1.13%/1.13% 5.92% 4.25% 2.12% 13.67% 7.28% 7.78% $59.20 per T. Rowe Price 2030 R 1,2 RRTCX 6.22% 4.08% 20.75% 9.93% 10.42% $72.50 per S&P Target Date 2030 TR $11.30 per Gross 7.25% 1.19%/1.19% 6.61% 6.00% 3.18% 17.96% 9.23% 9.50% $66.10 per T. Rowe Price 2040 R 1,2 RRTDX 7.12% 4.81% 23.79% 11.08% 11.54% $77.70 per S&P Target Date 2040 TR $11.90 per Gross 7.77% 1.24%/1.24% 7.09% 7.36% 4.01% 21.37% 10.74% 10.79% $70.90 per T. Rowe Price 2050 R 1,2 RRTFX 7.30% 4.98% 24.32% 11.29% 11.67% $78.30 per S&P Target Date 2050 TR 10/30/2003 $12.40 per Gross 10/30/ % 1.24%/1.24% 7.34% 7.87% 4.31% 22.86% 11.48% 11.49% $73.40 per T. Rowe Price 2060 R 1,2 TRRZX 7.29% 4.93% 24.30% 11.27% N/A $89.70 per S&P Target Date 2055 TR International Funds 12/29/2006 $12.40 per Gross 12/29/ % 1.24%/1.24% * 7.96% 4.37% 23.18% 11.66% N/A 06/23/2014 American Funds EuroPacific Gr R3 1 RERCX 7.14% 6.06% 32.44% 10.76% 8.99% $47.20 per Morningstar Global Markets ex-us GR Small Cap Funds 06/23/2014 $12.40 per Gross 4.72% 1.14%/1.14% 4.77% 8.96% 5.39% 30.38% 11.72% 8.49% $47.70 per AllianzGI NFJ Small-Cap Value A 2 PCVAX 4.77% 3.41% 12.76% 10.30% 9.82% $85.10 per 04/16/1984 $11.40 per Gross 04/16/ % 1.24%/1.19% 01/20/1997 $12.40 per Gross Page 2 of 7

3 Option Ticker 3 mos YTD 1 year 3 year 5 year Morningstar US Small Value TR 10.54% 5.26% 1.14% 8.20% 10.00% 12.23% $ per Columbia Small Cap Index A 2 NMSAX 5.47% 2.47% 16.14% 13.74% 14.70% $ per Morningstar US Small Cap TR Mid Cap Funds 01/20/ % 0.45%/0.45% 10.48% 6.10% 2.37% 16.05% 11.46% 13.27% $ per Baron Growth Fund 1,2 BGRFX 7.42% 5.08% 30.62% 10.99% 12.80% $95.10 per Morningstar US Mid Core TR 10/15/1996 $4.50 per Gross 10/15/ % 1.30%/1.30% 11.31% 8.42% 3.36% 21.06% 11.79% 14.68% $ per Federated Kaufmann A 2 KAUAX 12.94% 9.12% 34.99% 15.24% 17.27% $86.60 per Morningstar US Mid Core TR 12/30/1994 $13.00 per Gross 12/30/ % 2.03%/1.98% 11.31% 8.42% 3.36% 21.06% 11.79% 14.68% $ per Franklin Small-Mid Cap Growth Fund A 2 FRSGX 7.41% 5.04% 22.35% 9.78% 12.82% $92.30 per Morningstar US Mid Core TR 04/24/2001 $20.30 per Gross 04/24/ % 0.96%/0.95% 11.31% 8.42% 3.36% 21.06% 11.79% 14.68% $ per Great-West S&P MidCap 400 Index Fund Inv 1,2 MXMDX 6.72% 2.80% 16.97% 11.94% 13.39% $ per Morningstar US Mid Cap TR 02/14/1992 $9.60 per Gross 02/14/ % 0.56%/0.55% 13.64% 9.04% 4.11% 21.26% 12.51% 14.92% $ per Lord Abbett Mid Cap Stock A 2 LAVLX 4.03% 2.24% 7.67% 8.25% 10.85% $72.30 per Morningstar US Mid Value TR Large Cap Funds 01/20/2011 $5.60 per Gross 01/20/ % 0.97%/0.97% 10.69% 8.94% 3.11% 14.59% 13.36% 15.90% $ per American Funds Growth Fund of Amer R3 1 RGACX 11.41% 8.10% 30.04% 16.03% 16.51% $94.90 per Morningstar US Large Growth TR 06/28/1983 $9.70 per Gross 06/28/ % 0.98%/0.98% 11.60% 13.60% 9.76% 38.71% 16.59% 18.33% $ per American Funds Washington Mutual R3 1,2 RWMCX 9.75% 5.10% 24.22% 13.50% 14.61% $87.30 per 12/01/1973 $9.80 per Gross 12/01/ % 0.95%/0.95% 06/04/2002 $9.50 per Gross Page 3 of 7

4 Option Ticker 3 mos YTD 1 year 3 year 5 year Federated Equity Income A 2 LEIFX 9.31% 4.39% 20.03% 9.15% 11.08% $71.90 per 06/04/ % 1.13%/1.13% Federated Strategic Value Dividend A 2 SVAAX 4.25% 0.43% 14.70% 9.36% 11.21% $71.70 per 12/30/1986 $11.30 per Gross 12/30/ % 1.19%/1.06% Great-West S&P 500 Index Fund Inv 1,2 MXVIX 10.06% 5.70% 25.77% 13.99% 15.24% $91.30 per Morningstar US Large Cap TR 03/30/2005 $11.90 per Gross 03/30/ % 0.54%/0.54% 9.70% 10.29% 6.04% 27.70% 14.96% 16.02% $97.00 per Janus Henderson Growth & Income T 2 JAGIX 12.15% 5.50% 29.07% 15.54% 16.11% $90.40 per Morningstar US Large Cap TR 09/08/2003 $5.40 per Gross 09/08/ % 0.88%/0.88% 9.70% 10.29% 6.04% 27.70% 14.96% 16.02% $97.00 per MFS Value A 1,2 MEIAX 8.56% 4.73% 21.59% 13.05% 14.32% $86.30 per 05/15/1991 $8.80 per Gross 05/15/ % 0.84%/0.84% T. Rowe Price Total Equity Market Index 1,2 POMIX 9.62% 5.31% 24.75% 13.96% 15.39% $97.80 per Morningstar US Large Cap TR Bond Funds 01/02/1996 $8.40 per Gross 01/02/ % 0.30%/0.30% 9.70% 10.29% 6.04% 27.70% 14.96% 16.02% $97.00 per Federated Total Return Bond Svc 2 FTRFX -0.42% -0.78% 2.84% 1.84% 2.33% $40.40 per Morningstar US Core Bond TR 01/30/1998 $3.00 per Gross 01/30/ % 0.96%/0.69% 3.86% -0.85% -1.20% 2.19% 1.29% 2.14% $38.60 per 10/01/1996 $9.60 per Gross 10/01/1996 Please note that if an investment option has not been in existence for 10 years, a "/Inception Date" return will be displayed. If the investment option has been in existence for 10 years or more, a "10-Year" return will be displayed. Returns shown for the corresponding benchmark are for the same time period as the investment option. Page 4 of 7

5 Fixed Rate of Return s Table This table looks at the investment options that have a fixed or set rate of return. It shows the current annual rate of return and the minimum annual rate or return. The table also shows how often the rate of return may change and the term or length of time you will earn this rate of return, if applicable. The investment provider of the fixed account may change the rate in the future. You may visit the Web site listed above or call the Voice Response System to find the current rate. Fixed Return s as of 02/27/2018 Option Current Fixed Rate Key Guaranteed Portfolio 1.10% Fund $11.00 per Minimum Rate Frequency of Fixed Rate Setting Term 0.00% Quarterly 03/31/ Additional information on this Option can be found in Section 2. 2 Mutual Fund Option. The start/inception date is that of the fund's original share class. Performance returns for mutual fund options in your Plan offering a different share class with a more current start/inception date have been adjusted to reflect the fees and charges associated with the actual share class. * Performance returns not available at time of production. N/A - Performance returns are not applicable. ~ Gross Total Annual Operating Expenses are the gross fees potentially charged to the investment option and are displayed above in accordance with fee disclosure regulations. The Net Total Annual Operating Expenses, also displayed above as supplementary information, are the actual amounts charged by the investment option and may be different from the Gross Expenses due to certain fee waivers or additional expenses charged by other service providers. Expenses reduce the return of the investment option. Part of these fees may be shared with the plan's service providers to help pay for plan administration and/or recordkeeping fees. Part of these fees may be shared with the plan's service providers and, under an agreement with the applicable plan fiduciaries, may be used to help pay for plan administration and/or recordkeeping fees. The plan's fiduciaries may make changes to the plan's investments at any time subject to applicable notice requirements. Please see the participant website for more information. ** A benchmark index is not actively managed. It does not have a defined investment objective and does not incur fees or expenses. You cannot invest directly in a benchmark index. General Administrative Services Expenses Table This table shows expenses that pay for operating the Plan. These expenses are described below. Fees and expenses for general plan administrative services (for example, recordkeeping services and custodial services) may be charged to the Plan. These fees and expenses may be charged to your individual account if not paid by the Plan Sponsor and/ or included in investment-related fees and expenses. How the expenses are charged to participant accounts will depend on the nature of the expense. For example, some fees may be charged as a fixed dollar amount per participant or as a percentage amount spread across the account balances. Blank fields in the table can be assumed to be not applicable or zero. There are no General Administrative Services Expenses to be included in the table at this time. 2 Other -Related Fees, Expense Information and Transfer Restrictions Other -Related Fees, Expense Information and Restrictions This table looks at fees, expenses and transfer restrictions that are in addition to the Expenses in Section 1. Fees and expenses are only one of many things to think about when deciding to invest. You may also want to think about whether an investment in a particular investment option, along with your other investments, will help you reach your financial goals. Other -Related Fees and Restrictions as of 02/27/2018 Option Transfer Rule Shareholder Type Fees^ T. Rowe Price Balanced R 3 T. Rowe Price 2010 R 3 T. Rowe Price 2020 R 3 T. Rowe Price 2030 R 3 T. Rowe Price 2040 R 3 T. Rowe Price 2050 R 3 Page 5 of 7

6 Option Transfer Rule Shareholder Type Fees^ T. Rowe Price 2060 R 3 American Funds EuroPacific Gr R3 1 Baron Growth Fund 2 Great-West S&P MidCap 400 Index Fund Inv 2 American Funds Growth Fund of Amer R3 1 American Funds Washington Mutual R3 1 Great-West S&P 500 Index Fund Inv 2 MFS Value A 1 T. Rowe Price Total Equity Market Index 3 Key Guaranteed Portfolio Fund Redemption Fee -.5% of money transferred within 90 day(s) of initial investment Should the Plan Sponsor terminate the group annuity contract, transfer restrictions and/or possible termination fees may apply. If your Plan Sponsor terminates the group annuity contract, please call Empower Retirement for more information. Rule #1 - Fund company restriction: A transfer of $5000 or more into this fund will not be permitted if a prior transfer of $5000 or more was made out of this fund in the last 30 days. Rule #2 - Due to the frequent trading policy and procedures regarding market timing and excessive trading, if 2 round trips have been processed INTO the fund there may be transfer restrictions. Given the fund's frequent trading policy and procedures and previous warnings, you may be restricted from transferring money into this fund for 30 days. Rule #3 - Due to the frequent trading policy and procedures regarding market timing and excessive trading, if 2 round trips have been processed INTO the fund there may be transfer restrictions. Given the fund's frequent trading policy and procedures and previous warnings, you may be restricted from transferring money into this fund for 90 days. ^ Shareholder/Shareholder-Type Fees are fees paid directly from your investment in this option (e.g., sales loads, sales charges, deferred sales charges, redemption fees, exchange fees, account fees, purchase fees, transfer or withdrawal fees). NOTE: More current information about the Plan's investment options, including fees, expenses and performance updates, may be available at your plan's Web site. 3 Plan-Related Information Plan-Related Information is an explanation of general plan information. It includes a description of non-investment management fees and expenses that may be charged to your account. This section also includes a list of the Participant Elected Services Expenses. General Information Non- Management Fees and Expenses: Includes recordkeeping, accounting, legal or other administrative fees that may be charged to your account. The dollar amount actually charged to your account during the previous quarter for such administrative or individual expenses will be reported to you on your quarterly statement. If you have additional questions related to fees on your account, please contact the Voice Response System or your Plan Administrator. Instructions: Your plan lets you direct the investment of your account in the investment options listed in Section 1. You may make changes to your investment options via the plan s Web site or by calling the Voice Response System. Limitations on s: Limits on making changes to your investment choices may be imposed by the Plan Administrator or by a manager of an investment option. Any limits or restrictions made by a fund manager are described in the prospectus for the fund. They include restrictions intended to prevent market timing (i.e., rapid trading in and out of a fund). If these restrictions apply then they will be listed in Section 2. In addition to the limits and restrictions described in the prospectus, the Plan Administrator may have other restrictions on making changes to your investment choices. If the Plan Administrator has additional limits, they will be described in a separate document that will be provided to you by your Plan Administrator. Voting, Tender, and Similar Rights: The appropriate Plan fiduciaries, or an individual or an institution designated by the Plan fiduciaries, will exercise any voting or other rights associated with ownership of the Designated Alternatives offered in your Plan. Participant Elected Services Expenses Table This table shows expenses for optional services available through your plan. Certain fees may be charged to your individual account for optional services you use. Page 6 of 7

7 Participant Elected Services Expenses as of 02/27/2018 Service Fee Amount Frequency Description Loan Maintenance Fee $17.50 Quarterly This flat fee covers the annual maintenance of your existing loan and is deducted from your account balance each quarter. If you have more than one loan, you will be assessed the fee for each outstanding loan. Loan Origination Fee Benefit Disbursement Fee ACH Special Handling Charge EXPRESS Special Handling Charge Periodic Payment ("PPAY") Origination Fee WIRE Special Handling Charge $75 for Empower Retirement $75 for Bremer Trust $50 for Empower Retirement $10 for Bremer Trust Per Loan Per Distribution $15.00 Per Distribution ACH Charge $25.00 Per Distribution Express Delivery Charge This fee is for the processing of your loan. This fee is applied each time you request a loan from your retirement account and is taken from the proceeds prior to distribution. This fee is for the processing of a distribution from your account. This fee is applied each time you request a distribution/withdrawal from the Plan. $60.00 Per PPAY Set Up Periodic Payment ("PPAY") Origination Fee $40.00 Per Distribution Wire Charge Fees and expenses do add up and can have a big impact on your retirement savings. Fees and expenses are only two of many other factors to think about when you make investment decisions. You can visit the Department of Labor website for an example showing the long-term effect of fees and expenses Visit your plan's website listed in the title for a glossary of investment terms relevant to the investment options under this plan. To request additional Plan information, or a paper copy of certain information available online, free of charge, contact a representative at Empower Retirement, PO Box , Denver, CO Page 7 of 7