NASSAU COUNTY NASSAU COUNTY DEFERRED COMPENSATION PLAN NASSAU COMMUNITY COLLEGE PLAN HIGHLIGHTS

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1 NASSAU COUNTY NASSAU COUNTY DEFERRED COMPENSATION PLAN NASSAU COMMUNITY COLLEGE PLAN HIGHLIGHTS

2 Retirement is about being able to do what you want once you ve stopped working. Whether you plan to travel, take up a new hobby or spend more time with the family, it will take money to do it. The Nassau County Deferred Compensation Plan is a great way to save for your future. Tax savings through pre-tax contributions, tax-deferred growth 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 and Nassau Community College (NCC) are eligible to participate in the Nassau County Deferred Compensation Plan. Participation is voluntary, and employees may enroll at any time. You may contribute to the plan in addition to participating in other voluntary retirement plans offered by the College. To enroll, contact Prudential Retirement Counselor Theresa Mansbart. She is available to meet both in a group setting as well as individually. She can also 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, call Theresa directly at , or her at theresa.mansbart@prudential.com. CONTRIBUTIONS When you save in the Deferred Compensation Plan, you pay less in current income taxes since contributions are made pre-tax. Also, the money in your account has the potential to grow on a tax-deferred basis, which means you do not pay taxes until you withdraw the money. Minimum annual contribution: $260 (1% per pay) if participating 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 are accepted into the plan at any time LOANS You may borrow money from your Deferred Compensation Plan without incurring current income taxes for any purpose and make repayments through payroll deduction. If the loan is defaulted, income taxes and possible penalties could apply. 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 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 Retirement Counselor will assist you in completing Prudential s 457 Service Buyback Form.

3 WITHDRAWALS Number of loans One at a time Minimum Maximum Interest rate Prime + 1% Maximum loan term $1,000 (provided you meet the 50% account balance requirement) 50% of your account balance (up to a maximum of $50,000), reduced by the highest outstanding loan balance in the last 12 months Five years (15 years if for a primary residence) You may be able to withdraw from your account. There is no penalty for Unforseen Emergency Distributions, but they are taxable as ordinary income. DISTRIBUTIONS Once your employment with Nassau County ends, you ll have to decide what you want to do with your Deferred Compensation Plan assets. You may: 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 Note: Once you are off the Nassau County and NCC payroll, the entire account is available without penalty, regardless of when your contributions were made, and there is no penalty if the account is withdrawn prior to age 59½. Distributions are taxable as ordinary income. INVESTMENT OPTIONS The Nassau County Deferred Compensation Plan offers you a diverse investment lineup and flexibility to tailor your investment strategy. Review your investments at least annually to ensure they continue to meet your objectives. Asset Class 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** 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 All investing involves various risks, such as: fixed income (interest rate), default, small cap, international and sector D, including the possible loss of principal.

4 TARGET-DATE FUNDS Target-date funds offer a simple approach to retirement investing. Composed of a variety of underlying funds, they are designed to provide diversification within a single fund. Target-date funds increase their allocation to fixed income investments and decrease their allocation to equity investments over time, which means you can remain in the same fund while shifting to a more conservative allocation as retirement nears. The target date is the approximate date when investors plan to start withdrawing their money; the principal value of the fund(s) is not guaranteed at any time. GOALMAKER 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. Participants should consider their other assets, income and investments (e.g., equity in a home, Social Security benefits, individual retirement plan investments, etc.), in addition to their interest in the plan, to the extent those items are not taken into account in the model. Participants should also periodically reassess their GoalMaker investments to make sure their model portfolio continues to correspond to their changing attitudes and retirement time horizon. 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. CONSERVATIVE MODERATE AGGRESSIVE ASSET CLASSES 0-5 3% 3% 5% 5% 5% 44% 5% 35% 32% 25% 1 12% 12% C01 M01 R01 21% 25% 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 % 4% 4% 2 39% 1 23% 23% % 1 23% 2 C02 M02 R02 M03 2 9% % 1 15% 15% 31% % 13% C04 M04 R04 1 Funds included in GoalMaker portfolios.

5 Use the following table to compare the Nassau County Deferred Compensation Plan with other retirement plans offered by NCC. Nassau County Deferred Compensation Plan Provider A Provider B Provider C early withdrawal penalty 3-year catch-up contribution Annual account administration fee Contingent deferred sales charge Sales loads (front- or back-end) Ability to take loans Asset allocation program Fund expenses Self-Directed Brokerage Account No Yes $0 $0 $0 Yes Yes Varies by fund Separate fees apply 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 ( ) SELF-DIRECTED BROKERAGE One of the many benefits of the Nassau County Deferred Compensation Plan is the variety of investment choices. The plan offers an additional opportunity called the Self-Directed Brokerage (SDB) Account. Contact your Retirement Counselor for more information.

6 * Retail mutual funds and self-directed brokerage accounts 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 are 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 about the investment options available through your plan. Please call 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_RE2_03 01/2019