Report to Stockholder Education Minnesota Properties

Transcription

1 Report to Stockholder Education Minnesota Properties

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3 BOARD OF DIRECTORS Doug Ryant, Chair Peter Eckhoff, Vice Chair Rodney Rowe, Secretary-Treasurer Shelley MacDonald, Interim ESI Director Michelle Duke Sara Gjerdrum Kiel Koehler Paul Mueller Ellen Olsen Elizabeth Proepper Mike Roehl Kim Schueller Denise Specht ESI STAFF Shelley MacDonald Deborah Skog Matthew Blewett Chuck Elliott, Retirement Consultant Lyle Nelson, Retirement Consultant 1

4 ESI Advisory Committee Name Vacant Linnea Hackett Ellen Olsen Julie Brown Tim Kappes Therese Dzuck Judy Hayes Angela Roesner Vacant Peter Eckhoff ESI Board Vice Chair Sara Nelson John (Pete) Koenig Carole Boelter Kiel Koehler Michelle Gottberg Erick Harper Wendy Jennings Jerome Holicky Doug Ryant ESI Board Chair Ron Czerepak Elizabeth Proepper Kim Schueller Shawn Bjerke Election District/Unit A B/ESP C D E ESP F G H I J K L M N O P Q R Retired S SRSEA T/MSCF 2

5 Education Minnesota ESI Structure Education Minnesota Membership Education Minnesota Governing Board Education Minnesota Properties (Stockholders) Economic Services, Inc. Education Minnesota ESI Sponsored Programs ESI Advisory Committee Economic Services Insurance Agency Discount Products Committee Financial Services Committee Property/Casualty Committee Investments Committee 3

6 ESI Financial Services Product Selection Process A financial product may be introduced for Education Minnesota ESI sponsorship consideration through Education Minnesota members, professional staff, the marketing agency or a company. The concept is to provide unique and competitive programs/products to Education Minnesota members. Company and Product Marketing Agency Evaluation of product criteria report Presentation by a company representative Prepare a marketability report and return to ESI ESI Agreement on ESI contracts and base agreements Company prepares a Product Criteria (Information provided to Marketing Agency and ESI) ESI Forward all reports to Financial Services or Investments Committee Establish dates for presentations Financial Services and Investments Committee Evaluation of all reports Presentations by company representatives and marketing agency Recommend yes or no for sponsorship Annual review of sponsored products/programs Continuous monitoring of sponsored products/programs ESI Board of Directors (Presentation to Board by chairperson of Financial Services or Investments Committee) Final approval and sponsorship YES or NO Sponsorship announcement to Education Minnesota Properties Governing Board by ESI Board Chairperson

7 What is ESI? With more than 70,000 members and affiliation with the American Federation of Teachers and the National Education Association, ESI Member Benefits enhances both members' and Education Minnesota's economic status by providing programs of exceptional value. Education Minnesota ESI (Economic Services, Inc.) was created in 1973 as a venue to offer products and services to members, usually at a discounted rate. ESI is a whollyowned subsidiary of Education Minnesota Properties. This for-profit corporation is designed to provide quality, comprehensive programs that are competitively priced and feature consumer-oriented service for Education Minnesota members. As per ESI s mandate, ESI revenues inure to the benefit of the membership and organization in the form of enhancements, discounts, service and consumer education. ESI and its business partners provide valuable benefit information to members via workshops at Education Minnesota locals, arranged through local leaders. Workshops include Pension Education / Financial and Retirement Planning / Long-Term Care Insurance / Financial Planning for Women / Mortgage Workshops and more. Additionally, ESI financial services advisors conduct local seminars and meet individually with members. ESI sponsored programs include: financial/retirement planning services, mortgages and loans, auto and home insurance, long-term care insurance, Medicare supplement insurance, individual and family insurance plans, credit card, identity theft protection, PerksConnect online discount shopping, auto buying and leasing and BOSE music products. Additionally, ESI actively promotes member benefit programs sponsored by the AFT and NEA. ESI is governed by the ESI Board of Directors and the ESI Advisory Committee. The ESI Board is composed of 13 members. The ESI Advisory Committee (representatives from each of the 20 Election Districts, Minnesota State College Faculty, SRSEA, Private Schools, ESP, and Retired) is fully funded by ESI. Its members serve on various subcommittees that are the respective new product/product review/consumer concern committees for the appropriate products in their program area and provide recommendations to the ESI Board about their retention, revision, and/or sponsorship. ESI Advisory Committee Subcommittees include: Financial Services, Investments, Property/Casualty and Discount Products. There is significant member involvement in the decision making process of ESI. Members also participate in the monitoring process for all programs and also serve on consumer-oriented grievance adjudication committees. All ESI sponsored programs are reviewed and approved through a due diligence process. Final decisions on new or current products are made by the ESI Board after reviewing recommendations of the Advisory Committee subcommittees. ESI offers only products and services that offer exceptional value and outstanding service to members. Education Minnesota ESI / 41 Sherburne Avenue, St. Paul, MN / /

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9 ESI Leadership Report ESI Leadership Report Doug Ryant, ESI Chair Alve Jemtrud, ESI President September 1, 2013 to August 31, 2014 ESI is a wholly-owned subsidiary of Education Minnesota Properties, Inc. This for-profit corporation is designed to provide quality, comprehensive programs that are competitivelypriced and feature consumer-oriented service for Education Minnesota members. An extensive due diligence process is followed prior to submitting a product or service to the ESI Advisory Committee for sponsorship consideration. The ESI Advisory Committee meets annually to review each product and/or service prior to recommending continued sponsorship, monitoring status, or discontinuation of the sponsorship. Only those products that offer exceptional value and outstanding service for members and their families earn ESI and Education Minnesota s approval. ESI sponsored programs include: financial/retirement planning services, mortgages and loans, auto and home insurance, long-term care insurance, Medicare supplement insurance, individual and family insurance plans, credit card, identity theft protection, PerksConnect online discount shopping, auto buying and leasing and BOSE music products. Additionally, ESI actively promotes member benefit programs sponsored by the AFT and NEA. ESI earned $1,098,750 in revenue in the fiscal year. This income was generated from commissions as well as advertising, marketing, and promotional fees paid by sponsored product/program providers. As per Education Minnesota s mandate, ESI revenues inure to the benefit of the membership and organization in the form of enhancements, discounts, service, and consumer education. In , ESI employed four full-time staff, and also retained four consultants. Chuck Elliott and Lyle Nelson, ESI Retirement Consultants, play a significant role in the success of the ESI Financial/Retirement planning workshops. Dick Miller, ESI s Property and Casualty Consultant worked with the ESI Auto and Home insurance program and assisted Education Minnesota with group insurance. With Dick s retirement, effective 8/31/14, ESI staff will absorb his duties. Bill Newton, former MSCF staff, provided pension education and financial/retirement planning for MSCF members. With Bill s resignation effective December 31, 2014, MSCF Field Staff will assume his role relative to workshops for MSCF members. ESI continues to make significant contributions to the organization in the form of rent, service fees, and advertising ($165,020). ESI pays 50% of the cost of both the Professional Conference Program and Insert, the Education Minnesota Datebook and 100% of the cost of the Education Minnesota wall calendar ($38,171). ESI is responsible for marketing and coordinating Professional Conference exhibits on behalf of Education Minnesota; 245 booths generated $126,800 in revenue for Education Minnesota. ESI staff continue to provide service and support for Education Minnesota Retired as well (6,815 members). ESI, as Agent of Record, was also able to provide support and achieve savings for essential benefit programs for Education Minnesota. ESI and its business partners provided premium items and financial support for members attending the Education Minnesota Professional Conference, Representative Convention and Summer Seminar. Prizes included ipads, Barnes & Noble and other gift cards and additional 6

10 ESI Leadership Report premium items. For Presidents Appreciation weekend, ESI and its business partners sponsored the hors d oeuvre and dessert reception and provided numerous prizes for adults and children. Additionally, ESI presented an ipad to the Minnesota Teacher of the Year and ESP of the Year. In addition to its popular pen/highlighters, ESI and its business partners provided numerous premium items for drawings and gifts at various meetings and workshops for locals and intermediate organizations, including new member orientation & fall drive-in events ($102,482). So far 8,746 members have registered for the ESI sponsored PerksConnect online discount shopping program. An additional offer through PayCheck Direct allows members to purchase topquality, brand name products interest-free, through electronic deduction. 441 orders totaling $389,000 have been placed since the program started in PerksConnect and PayCheck Direct have contributed toward the cost of Education Minnesota membership cards and other major prizes and sponsorships. Education Minnesota field staff continue to be supportive in arranging and promoting educational workshops and presentations with ESI and its business partners. Active, ESP and Retired members receive pertinent information regarding pensions, Social Security & Medicare, financial planning, asset management, and long-term care protection. In addition, tax-deferred program administration and compliance informational sessions were held for local presidents, negotiators, field staff, superintendents, human resources directors, business managers, and payroll clerks. Overall, 2,741 participants attended 106 workshops in Since 2002, 59,163 participants have attended 1,694 workshops. These numbers do not reflect all exhibit events and local/area workshops conducted by ESI and financial services advisors. Additionally, over the past seven years, ESI has offered pension education and financial/retirement planning workshops for MSCF members 1,978 attended 113 workshops. On August 11, 2014, ESI held its 21 st annual charitable golf tournament on behalf of the Education Minnesota Foundation for Excellence in Teaching and Learning. ESI funds all expenses for the tournament so that all monies contributed by business partners, sponsoring companies, and participating golfers go directly to the Foundation. $40,760 was raised this year; since its inception, the event has raised more than $592,974 for the Foundation. Next year s 22 nd annual event will be held on Monday, August 11, 2015 at Prestwick Golf Club in Woodbury. ESI continually strives to deliver quality member benefit programs and services in a costeffective manner. While an associate executive staff position, vacated by retirement in 2010, has been left open, ESI continues to monitor staffing needs for the future. Expenses in were $863,678. Revenue exceeded expenditures by $235,072. $49,605 in interest was paid to Education Minnesota Properties on a $1.2 million loan. $134,217 was applied to the loan principal, leaving a balance of $782,013. It is projected that the loan will be retired in 4 years with approximately $500,000 in interest payments over a nine-year period. ESI continues to receive guaranteed revenue from ELS for the transition of the LTCI program in The terms included an initial payment of $250,000 plus $500,000 in guaranteed revenue over a five-year period. ESI continues its more appropriate role of monitoring the sponsorship of the long-term care insurance program for members and their families. ELS has expanded marketing to include life insurance programs, including a combination life/ long-term care 7

11 ESI Leadership Report product, to better meet the needs of members and their families. There are 6 life and long-term care specialists who assist members and their families with life and long-term care insurance needs. Through a partnership with the Minnesota Health Insurance Network (MNHi.net), members have access to viable, affordable individual health insurance coverage. MNHi.net provides options for members and their families when group coverage is no longer available, when the employment or dependent status of individuals changes, when individuals are transitioning into retirement, or when they become eligible for Medicare. EFS Advisors, the exclusive marketing agency for the financial services program, with approximately 40 investment advisors serving members throughout the state, continues to be a major business partner relative to revenue and marketing support. 25,670 accounts have been opened by active and retired members as well as their families; there are approximately $1.3 billion in assets under management. ESI monitors $3.2 million per month/ $38.6 million per year in deposits and payroll deductions via the ESI Billing Trust. Additionally, Educators Benefit Consultants (EBC) provides 403(b) third party administrative services for 248 school districts and Flex plan administration for 107 school districts. In summary, ESI delivered a quality member benefits program to Education Minnesota while sustaining a profit of $235,072. Concurrently, ESI and its business partners contributed over $412,419 in program support that inured to the benefit of Education Minnesota and its members. AFT + member benefit programs are an important component of ESI s marketing activities. Financial support and incentive contributions based on participation in AFT s No-Cost Life Program ($93,800) have influenced ESI to more actively recruit and enroll new members in programs and workshops. NEA Member Benefits continues to be beneficial to ESI s mission by providing participationbased revenue ($170,590). Increased member registration in NEA s Complimentary Life Insurance (formerly known as NEA DUES-TAB) continues to be a priority for ESI; registrants are more likely to become active, involved participants in sponsored products and programs Focus Areas: 1. Develop a healthcare in retirement workshop for members 55 and up to address management and distribution of assets, wills/trust/ estate tax concerns, and long-term care needs. 2. Enhance offerings of financial/retirement planning workshops for younger members. 3. Enhance offerings of financial/retirement planning workshops for ESP (PERA) members. 4. Enhance offerings of financial/retirement planning workshops for MSCF members. 5. Assess ESI staffing needs. A thorough review of ESI s staffing needs is critical to ensure ESI s continued success and to allow for expansion and growth. Alve Jemtrud, President of ESI since 1988, retired effective 8/31/14. Alve played a significant role in carrying ESI s mission forward and bringing quality member benefits to members. 6. As the demographics of Education Minnesota s membership change, ESI will enhance efforts to ensure their position as the relevant source of benefit programs that meet the needs of all members. 8

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13 Economic Services, Inc. Balance Sheets 8/31/14 8/31/13 8/31/12 8/31/11 8/31/10 CURRENT ASSETS Cash & cash equivalents 346, , , , ,367 Accounts receivable 275, , , , ,627 Prepaid expenses 4,663 3,692 4,409 17,288 17,280 PROPERTY AND EQUIPMENT Furniture and equipment, net of 9,121 11, accumulated depreciation TOTAL ASSETS 635, , , , ,274 LIABILITIES & STOCKHOLDER'S EQUITY (DEFICIT) LIABILITIES Line of credit due Education Minnesota Accounts payable 32,125 74,333 41,229 25,331 11,494 Due to Education Minnesota Properties 782, ,230 1,072,447 1,200,000 1,200,000 Due to Education Minnesota 133, , ,197 51, ,013 TOTAL LIABILITIES 947,936 1,116,875 1,264,873 1,276,453 1,328,507 STOCKHOLDER'S EQUITY (DEFICIT) Common stock, par value $.10 per share authorized 250,000 shares; issued and outstanding 100,000 shares 10,000 10,000 10,000 10,000 10,000 Additional paid-in capital 23,890 23,890 23,890 23,890 23,890 Accumulated deficit (346,064) (581,136) (715,353) (871,570) (999,123) TOTAL STOCKHOLDER'S EQUITY (DEFICIT) (312,174) (547,246) (681,463) (837,680) (965,233) TOTAL LIABILITIES & STOCKHOLDER'S EQUITY 635, , , , ,274 9

14 Economic Services, Inc. Statements of Income and Accumulated Deficit Year Ended Year Ended Year Ended Year Ended Year Ended 8/31/14 8/31/13 8/31/12 8/31/11 8/31/10 REVENUE Commissions & service fees 834, , , , ,044 National Education Association program revenue 170, , , , ,522 American Federation of Teachers program revenue 93,800 96,485 95,990 91, ,034 Miscellaneous ,098,750 1,013,670 1,017,024 1,089, ,723 COST & EXPENSES Administrative & general 861, , , ,532 1,060,339 INCOME (LOSS) BEFORE INCOME TAXES 236, , , ,353 (166,616) PROVISION (BENEFIT) FOR INCOME TAXES 1, NET INCOME (LOSS) 235, , , ,553 (166,916) BEGINNING ACCUMULATED DEFICIT (581,136) (715,353) (871,570) (999,123) (832,207) ENDING ACCUMULATED DEFICIT (346,064) (581,136) (715,353) (871,570) (999,123) 10

15 ESI Program Participation Report as of September 30, 2014 PROGRAM Participants/ Accounts as of 12/31/13 Participants/ Accounts as of 3/31/14 Participants/ Accounts as of 6/30/14 Participants/ Accounts as of 9/30/ Goals Financial Services 25,315 25,355 25,434 25,622 30,000 Accounts 403(b) Match 248 Districts 248 Districts 248 Districts 248 Districts 270 Districts Severance Exclusive 20 Districts 20 Districts 20 Districts 20 Districts 50 Districts Asset Management 6,574 6,625 6,706 6,929 10,000 Accounts ACS Flex 249 Districts 33,211 Participants 105 Schools 3,929 Participants 252 Districts 33,784 Participants 106 Schools 3,904 Participants 255 Districts 34,009 Participants 108 Schools 3,980 Participants 256 Districts 33,555 Participants 107 Schools 3,976 Participiants 250 Districts 135 Schools Long-Term Care Ins. 10,838 Policies 10,877 Policies 10,905 Policies 10,936 Policies 15,000 Policies Life Insurance 388 Policies 422 Policies 459 Policies 501 Policies N/A NEA LTC 157 Policies 164 Policies 175 Policies 175 Policies N/A Auto and Home Insurance Travelers: 592 Liberty Mutual: st Century: 1,200 NEA CalCas: 2,270 AFT MetLife: 187 Total: 4,552 Travelers: 573 Liberty Mutual: st Century: 1,200 NEA CalCas: 2,204 AFT MetLife: 222 Total: 4,705 Travelers: 577 Liberty Mutual: st Century: 1,200 NEA CalCas: 2,176 AFT MetLife: 230 Total: 4,768 Travelers: 558 Liberty Mutual: st Century: 1,200 NEA CalCas: 2,151 AFT MetLife: 212 Total: 4,801 7,600 Policies Credit Card 14,300 Open 10,938 Active 14,056 Open 10,646 Active 14,000 Open 10,583 Active 13,944 Open 10,580 Active 20,000 Open Accounts Mortgage 2,440 Mortgages/Loans 2,471 Mortgages/Loans 2,525 Mortgages/Loans 2,599 Mortgages/Loans 2,700 Mortgages/Loans Minnesota Health Insurance Network Identity Theft Protection 1,300 Policies 1,484 Policies 1,547 Policies 1,633 Policies N/A 162 Individual Accounts 345 Local Paid 162 Individual Accounts 496 Local Paid 162 Individual Accounts 496 Local Paid 174 Individual Accounts 355 Local Paid 7,600 Accounts AFT No Cost Life 1,380 1,543 1, % new members NEA Complimentary Life Ins. (# of beneficiary reg.) 43,270 43,215 43,215 42,045 75% all members PerksConnect 7,407 8,042 8,455 8,746 PayCheck Direct 273 Orders 313 Orders 357 Orders 382 Orders

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17 Fall/Winter 2014 Financial/Retirement Planning Essentials Please join us for one of the following FREE workshops: Nov. 18 (Tuesday) Eagan Community Center 1501 Central Parkway, Eagan, MN Nov. 20 (Thursday) Jimmy s Conference and Catering 3565 Labore Road, Vadnais Heights, MN Dec. 2 (Tuesday) Minnetonka Community Center Minnetonka Blvd., Minnetonka, MN Dec. 4 (Thursday) Maple Tavern 9375 Deerwood Lane N., Maple Grove, MN 4:00 4:45 p.m. Registration / Exhibits 4:45 7:15 p.m. Workshop / Dinner / Prizes (Complimentary Boxed Lunch Provided) TOPICS TO BE DISCUSSED: Pension Understanding your pension (TRA / PERA / SPTRFA) Rule of 90 vs. Non-Rule of 90 Pension fund performance Presented by: Chuck Elliott, Education Minnesota ESI Retirement Consultant Lyle Nelson, Education Minnesota ESI Retirement Consultant Planning What can you expect from Social Security? Tax-deferred and tax-free savings Asset allocation and asset management / diversification / performance and fees 403(b) match and severance payment options Medicare options: Medicare Supplements, healthcare reform, options for retiring before age 65 Presented by: EFS Advisors Protection What is your financial vulnerability with long term illness? How can you protect your assets and savings? Presented by: Educators Lifetime Solutions Limited Seating / Registration Required RSVP to Deborah Skog at or deborah.skog@edmn.org (Please leave your name(s), phone number and which session you will attend) Spouses/Guests Welcome Securities and Investment Advisory Services offered through EFS Advisors. A Registered Investment Advisor. Member FINRA & SIPC. 440 Emerson St N Ste 4, Cambridge MN (763) EFS Advisors is not affiliated with Education Minnesota ESI

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19 Financial/Retirement Planning Essentials Please join us for one of the following FREE workshops! 2015 January/February Workshops Metro 4:15 p.m. - 4:45 p.m. Registration / Exhibits 4:45 p.m. - 6:45 p.m. Workshop / Boxed Lunch / Prizes Thurs. 1/8/2015 Century College East Campus 3300 Century Avenue N., White Bear Lake, MN Tues. 1/13/2015 Hennepin Technical College 9000 Brooklyn Blvd., Brooklyn Park, MN Brooklyn Park Campus Tues. 2/3/2015 Education Minnesota-St. Paul 41 Sherburne Avenue, St. Paul, MN Thurs. 2/12/2015 Normandale Community College 9700 France Avenue S., Bloomington, MN Greater Minnesota 9:30 a.m. - 10:00 a.m. Registration / Rolls-Juice- Coffee 10:00 a.m. - 12:30 p.m. Workshop / Boxed Lunch / Prizes Sat. 1/3/2015 Grand Casino Hinckley 777 Lady Luck Drive, Hinckley, MN Sat. 1/10/2015 Holiday Inn Alexandria 5637 Highway 29 S., Alexandria, MN Sat. 2/7/2015 Ridgewater College - Hutchinson Campus 2 Century Avenue SE, Hutchinson, MN Sat. 2/28/2015 MN State College Southeast Technical, Red Wing Campus 308 Pioneer Road and Highway 58, Red Wing, MN TOPICS TO BE DISCUSSED: Pension Understanding your pension TRA / PERA Rule of 90 vs. Non-Rule of 90 Educational Pension fund performance Presented by: Chuck Elliott, Education Minnesota ESI Retirement Consultant Workshop Lyle Nelson, Education Minnesota ESI Retirement Consultant Planning What can you expect from Social Security? Tax-deferred and tax-free savings, asset allocation/management / diversification / performance 403(b) match and severance payment options Presented by: EFS Advisors Protection What is your financial vulnerability with long term illness? How can you protect your assets and savings? Presented by: ELS Long-Term care Specialist Limited Seating / Registration Required RSVP to Deborah Skog at or deborah.skog@edmn.org (Please leave your name(s), phone number and which session you would like to attend) Spouses/Guests Welcome Securities and Investment Advisory Services offered through EFS Advisors. A Registered Investment Advisor. Member FINRA & SIPC. 440 Emerson St N Ste. 4, Cambridge MN (763) EFS Advisors is not affiliated with Education Minnesota ESI Paid for by ESI, not by dues. ESI is self-supporting; revenues provide benefits, service and consumer education for members.

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21 Metro Financial/Retirement Planning Essentials Please join us for one of the following FREE workshops! 4:15 p.m. - 4:45 p.m. Registration / Exhibits 4:45 p.m. - 6:45 p.m. Workshop / Boxed Lunch / Prizes Tues. 4/7/2015 Anoka Technical College 1355 West Highway 10, Anoka, MN Thurs. 4/9/2015 Inver Hills Community College th Street East, Inver Grove Heights, MN Thurs. 4/30/2015 Dakota County Technical College 1300 East 145 th Street, Rosemount, MN Tues. 5/5/2014 Hennepin Technical College Eden Prairie Campus Greater Minnesota 2015 April/May Workshops 9:30 a.m. - 10:00 a.m. Registration / Rolls-Juice- Coffee 10:00 a.m. - 12:30 p.m. Workshop / Boxed Lunch / Prizes College View Drive, Eden Prairie, MN Sat. 4/11/2015 Rochester Community and Technical College th Avenue SE, Rochester, MN Sat. 4/11/2015 Lake Superior College 2101 Trinity Road, Duluth, MN Sat. 5/2/2015 MN State Community and Technical College 900 Highway 34 East, Detroit Lakes, MN Detroit Lakes Campus Sat. 5/16/2015 Ramada Marshall 1500 East College Drive, Marshall, MN TOPICS TO BE DISCUSSED: Pension Understanding your pension TRA / PERA Rule of 90 vs. Non-Rule of 90 Pension fund performance Educational Presented by: Chuck Elliott, Education Minnesota ESI Retirement Consultant Workshop Lyle Nelson, Education Minnesota ESI Retirement Consultant Planning What can you expect from Social Security? Tax-deferred and tax-free savings, asset allocation/management / diversification / performance 403(b) match and severance payment options Presented by: EFS Advisors Protection What is your financial vulnerability with long term illness? How can you protect your assets and savings? Presented by: ELS Long-Term Care Specialists Limited Seating / Registration Required RSVP to Deborah Skog at or deborah.skog@edmn.org (Please leave your name(s), phone number and which session you would like to attend) Spouses/Guests Welcome Securities and Investment Advisory Services offered through EFS Advisors. A Registered Investment Advisor. Member FINRA & SIPC. 440 Emerson St N Ste. 4, Cambridge MN (763) EFS Advisors is not affiliated with Education Minnesota ESI Paid for by ESI, not by dues. ESI is self-supporting; revenues provide benefits, service and consumer education for members.

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23 2015 Summer Workshops Financial/Retirement Planning Essentials Please join us for one of the following FREE workshops! Mon. 6/15/2015 Central Lakes College - Brainerd Campus 501 West College Drive, Brainerd, MN Tues. 6/16/2015 Bemidji State University 1500 Birchmont Drive NE, Bemidji, MN Tues. 6/16/2015 Minnesota State Community and Technical College Moorhead Campus Wed. 6/17/2015 Northland Community and Technical College East Grand Forks Campus Mon. 7/13/2015 Mesabi Range Community and Technical College Eveleth Campus th Avenue S., Moorhead, MN 2022 Central Avenue NE, East Grand Forks, MN 1100 Industrial Park Drive, Eveleth, MN Mon. 7/13/2015 Willmar Conference Center rd Street SE, Willmar, MN Tues. 7/14/2015 St. Cloud Technical and Community College 1540 Northway Drive, St. Cloud, MN Wed. 7/15/2015 Prestwick Golf Club - Woodbury 9555 Wedgewood Drive, Woodbury, MN Mon. 7/20/2015 Riverland Community College Austin Campus th Avenue, Austin, MN Mon. 7/20/2015 Minnesota West Community and Technical College 1450 College Way, Worthington, MN Worthington Campus Tues. 7/21/2015 South Central College Mankato Campus 1920 Lee Boulevard, North Mankato, MN Tues. 7/21/2015 MN Landscape Arboretum - Chaska 3675 Arboretum Drive, Chaska, MN Mon. 7/27/2015 Minnesota State College Southeast Technical, Winona Campus 1250 Homer Road, Winona, MN TOPICS TO BE DISCUSSED: Pension Understanding your pension TRA / PERA Rule of 90 vs. Non-Rule of 90 Pension fund performance Presented by: Chuck Elliott, Education Minnesota ESI Retirement Consultant Lyle Nelson, Education Minnesota ESI Retirement Consultant Planning What can you expect from Social Security? Tax-deferred and tax-free savings, asset allocation/management / diversification / performance 403(b) match and severance payment options Presented by: Education Minnesota ESI Financial Services (EFS Advisors) Protection What is your financial vulnerability with long term illness? How can you protect your assets and savings? Presented by: Education Minnesota ESI Long-Term Care Representatives Educational Workshop 9:30 a.m. - 10:00 a.m. Registration / Rolls-Juice-Coffee 10:00 a.m. - 12:30 p.m. Workshop / Boxed Lunch / Prizes Limited Seating / Registration Required RSVP to Deborah Skog at or deborah.skog@edmn.org (Please leave your name(s), phone number and which session you would like to attend) Spouses/Guests Welcome Securities and Investment Advisory Services offered through EFS Advisors. A Registered Investment Advisor. Member FINRA & SIPC. 440 Emerson St N Ste. 4, Cambridge MN (763) EFS Advisors is not affiliated with Education Minnesota ESI Paid for by ESI, not by dues. ESI is self-supporting; revenues provide benefits, service and consumer education for members.

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25 ESI Workshops / Presentations / Exhibits September 1, August 31, 2014 Date Location/Local/Unit Workshops/Presentation Type # 09/23/13 Drive In Cannon Valley UniServ Pension Education/Investment Planning/LTC 18 09/24/13 Drive In ECMS Pension Education/Investment Planning for TRA/PERA 25 09/25/13 Drive In Great Southwest United Pension Education/Investment Planning 9 09/25/13 Drive In Southcentral Financial Wellness 9 09/25/13 Drive In Western South Pension Education/Investment Planning/LTC 25 10/02/13 Drive In Great Southwest United Pension Education/Investment Planning 10 10/02/13 Drive In Kramer Brown Pension Education/Investment Planning 17 10/02/13 Drive In DCUE Financial/Retirement Planning 21 10/09/13 Drive In Western North Financial/Retirement Planning 26 10/09/13 Drive In Hiawatha Valley Financial/Retirement Planning 18 10/14/13 Drive In Northland United Financial/Retirement Planning 12 10/17/13 Education Minnesota Prof. Conf. The Principles of Wills/Trusts/Estate Planning/ LTCI 24 10/17/13 Education Minnesota Prof. Conf. Asset Accumulation/Investment Options/Financial Wellness 20 10/17/13 Education Minnesota Prof. Conf. Financial Concerns for Women 30 10/17/13 Education Minnesota Prof. Conf. What is the Status of your Pension? 14 10/23/13 Drive In Minnesota Valley Financial/Retirement Planning 23 10/23/13 Drive In Minnesota Valley Member Benefits 10 10/24/13 Winona Member Benefits 50 10/30/13 MSCF - Hennepin Technical College - Eden Prairie C Financial/Retirement Workshop 25 11/06/13 Drive In Mid-Minnesota United Financial/Retirement Workshop 14 11/13/13 MSCF - Northland CTC - Thief River Falls Campus Financial/Retirement Workshop 6 11/14/13 MSCF - St. Cloud CTC Financial/Retirement Workshop 30 11/19/13 MSCF - Anoka-Ramsey Comm. College - Coon RapidFinancial/Retirement Workshop 13 11/19/13 Eden Prairie Community Center 2013 Fall Winter/Metro Area Financial/Retirement Workshop 28 11/20/13 MSCF - Century College - East Campus Financial/Retirement Workshop 18 11/21/13 Vadnais Heights Commons 2013 Fall Winter/Metro Area Financial/Retirement Workshop 22 11/26/13 MSCF - Normandale Community College Financial/Retirement Workshop 14 12/03/13 Eagan Community Center 2013 Fall Winter/Metro Area Financial/Retirement Workshop 79 12/05/13 Maple Grove Community Center 2013 Fall Winter/Metro Area Financial/Retirement Workshop 72 12/05/13 Mounds View Financial/Retirement Workshop 24 12/10/13 MSCF - Lake Superior College Financial/Retirement Workshop 13 12/10/13 Robbinsdale Financial/Retirement Workshop 3 12/11/13 MSCF - Anoka Ramsey Cambridge Campus Financial/Retirement Workshop 8 12/12/13 St. Cloud Financial/Retirement Workshop 40 12/12/13 Anoka Financial/Retirement Workshop 50 12/18/13 Inver Grove Heights Retirement Workshop 30 01/09/14 MSCF - Minnesota Comm. & Tech College-Fergus FaFinancial/Retirement Workshop 15 01/04/14 Grand Casino Hinckley 2014 January/February Financial/Retirement Planning Workshop 27 01/08/14 GRAC Retirement Workshop 17 01/09/14 Century College - White Bear Lake 2014 January/February Financial/Retirement Planning Workshop 21 16

26 ESI Workshops / Presentations / Exhibits September 1, August 31, 2014 Date Location/Local/Unit Workshops/Presentation Type # 01/09/14 Rochester Financial Workshop 18 01/10/14 MSCF - Central Lake College - Brainerd Financial/Retirement Workshop 15 01/16/14 Hennepin Technical College-Brooklyn Park Campus 2014 January/February Financial/Retirement Planning Workshop 26 01/18/14 Holiday Inn Alexandria 2014 January/February Financial/Retirement Planning Workshop 63 01/25/14 Rochester Financial/Retirement Workshop 56 02/04/14 Education Minnesota - St. Paul 2014 January/February Financial/Retirement Planning Workshop 30 02/08/14 Ridgewater College-Hutchinson Campus 2014 January/February Financial/Retirement Planning Workshop 42 02/08/14 MN State College SE Technical, Red Wing Campus 2014 January/February Financial/Retirement Planning Workshop 32 2/12/2014 Central Lake College Workshops ESI Sponsored Programs 43 2/12/2014 Central Lake College Workshops Retirement Planning for Teachers 36 2/12/2014 Central Lake College Workshops Retirement Planning for Educational Support Professionals 7 2/13/2014 Normandale Community College 2014 January/February Financial/Retirement Planning Workshop 62 2/19/2014 Bloomington Federation of Teachers Financial/Retirement Workshop 35 4/2/2014 Drive In IRSU Financial Wellness/Financial Planning 9 04/02/14 Drive In IRSU Principles of Wills/Trusts/Estate Planning and Long-Term Care 19 04/04/14 Education Minnesota Students Member Benefits 52 04/08/14 Anoka Technical College 2014 April/May Financial/Retirement Planning Workshop 40 04/08/14 MSCF - Hibbing Community and Technical College Financial/Retirement Workshop 15 04/09/14 MSCF - Mesabi Range Community and Technical ColFinancial/Retirement Workshop 15 04/12/14 Rochester Community and Technical College 2014 April/May Financial/Retirement Planning Workshop 55 04/12/14 Lake Superior Community College 2014 April/May Financial/Retirement Planning Workshop 21 04/12/14 Drive In LSSU Financial/Retirement Workshop 9 04/17/14 Inver Hills Community College 2014 April/May Financial/Retirement Planning Workshop 23 04/21/14 Drive In NSSU Financial/Retirement Workshop 20 04/28/14 Mahtomedi PERA Sponsored Program(All Member Orientation) 25 04/30/14 MSCF - Normandale Community College Financial/Retirement Workshop 14 05/01/14 Dakota County Technical College 2014 April/May Financial/Retirement Planning Workshop 41 05/03/14 MN State Community and Technical College-Detroit L2014 April/May Financial/Retirement Planning Workshop 15 05/06/14 Hennepin Technical College-Eden Prairie Campus 2014 April/May Financial/Retirement Planning Workshop 50 05/06/14 Robbinsdale Financial Workshop 11 05/15/14 Anoka Financial/Retirement Workshop 45 05/15/14 Mora ESP Member Benefits 25 05/17/14 Ramada Marshall 2014 April/May Financial/Retirement Planning Workshop 29 05/21/14 Anoka Financial/Retirement Workshop 32 06/16/14 Brainerd 2014 Summer Financial/Retirement Planning Workshop 45 06/16/14 Brainerd Business Meeting (admin., payroll, personnel supervisors) 9 06/17/14 Bemidji 2014 Summer Financial/Retirement Planning Workshop 42 06/17/14 Bemidji Business Meeting (admin., payroll, personnel supervisors) 1 06/17/14 Moorhead 2014 Summer Financial/Retirement Planning Workshop 25 06/17/14 Moorhead Business Meeting (admin., payroll, personnel supervisors) 0 17

27 ESI Workshops / Presentations / Exhibits September 1, August 31, 2014 Date Location/Local/Unit Workshops/Presentation Type # 06/18/14 East Grand Forks 2014 Summer Financial/Retirement Planning Workshop 15 06/18/14 East Grand Forks Business Meeting (admin., payroll, personnel supervisors) 1 07/14/14 Eveleth 2014 Summer Financial/Retirement Planning Workshop 17 07/14/14 Eveleth Business Meeting (admin., payroll, personnel supervisors) 11 07/14/14 Willmar 2014 Summer Financial/Retirement Planning Workshop 34 07/14/14 Willmar Business Meeting (admin., payroll, personnel supervisors) 4 07/15/14 Woodbury 2014 Summer Financial/Retirement Planning Workshop 81 07/15/14 Woodbury Business Meeting (admin., payroll, personnel supervisors) 12 07/15/14 St. Cloud 2014 Summer Financial/Retirement Planning Workshop 48 07/15/14 St. Cloud Business Meeting (admin., payroll, personnel supervisors) 32 07/21/14 Albert Lea 2014 Summer Financial/Retirement Planning Workshop 28 07/21/14 Albert Lea Business Meeting (admin., payroll, personnel supervisors) 1 07/22/14 Worthington 2014 Summer Financial/Retirement Planning Workshop 19 07/22/14 Worthington Business Meeting (admin., payroll, personnel supervisors) 4 07/24/14 Mankato 2014 Summer Financial/Retirement Planning Workshop 23 07/24/14 Mankato Business Meeting (admin., payroll, personnel supervisors) 15 07/24/14 Chaska 2014 Summer Financial/Retirement Planning Workshop /24/14 Chaska Business Meeting (admin., payroll, personnel supervisors) 16 07/28/14 Winona 2014 Summer Financial/Retirement Planning Workshop 25 07/28/14 Winona Business Meeting (admin., payroll, personnel supervisors) 3 08/04/14 Summer Seminar Financial Concerns for Women 21 08/04/14 Summer Seminar Value-Added Member Benefits for Active and Retired Members 19 08/04/14 Summer Seminar How to Protect Yourself From Identity Theft 12 08/05/14 Summer Seminar Financial Wellness 42 08/05/14 Summer Seminar Pension Education-PERA 33 08/06/14 Summer Seminar Pension Education-TRA 37 Total 2,741 18

28 ESI Workshops / Presentations / Exhibits September 1, August 31, 2014 Exhibit ONLY Date Location/Local/Unit Exhibit Opportunity # 09/12/13 St. Louis Park ESP Sponsored Program(All Member Orientation) 46 09/17/13 Columbia Heights All Member Picnic /23/13 Drive In Cannon Valley UniServ Fall Drive In 85 09/24/13 Minneapolis Sponsored Program(First 3 Years) 25 09/24/13 Drive In ECMS Fall Drive In /25/13 Drive In Great Southwest United Fall Drive In 75 09/25/13 Drive In Southcentral Fall Drive In /25/13 Drive In Western South Fall Drive In /02/13 Drive In Great Southwest United Fall Drive In 75 10/02/13 Drive In Kramer Brown Fall Drive In 75 10/02/13 Drive In DCUE Fall Drive In /02/13 Drive In Central Lakes Fall Drive In /22/13 Minneapolis Sponsored Program(First 3 Years) 30 10/28/13 Drive In North Suburban Service Unit Fall Drive In 75 10/31/13 Duluth UMD Health Fair /06/13 Drive In Mid-Minnesota United Fall Drive In /13/13 Moose Lake Benefit Fair 60 11/19/13 Minneapolis Sponsored Program(First 3 Years) 20 02/14/14 Double Tree by Hilton Bloomington, Minneapolis SouPresidents Appreciation Weekend /28/14 Double Tree by Hilton Bloomington, Minneapolis SouMSCF Delegate Assembly /21/14 Drive In NSSU Spring Drive In 75 04/23/14 Princeton Sponsored Program(New Member Orientation) 20 05/3-4/14 Maddens Resort, Brainerd MSCA Conference /07/14 Windom Sponsored Program(New Member Orientation) 15 08/07/14 Worthington Sponsored Program(New Member Orientation) 35 08/08/14 Marshall Sponsored Program(New Member Orientation) 30 08/11/14 Worthington Sponsored Program(All Member Orientation) /12/14 Mountain Lake Sponsored Program(New Member Orientation) 50 08/14/14 West Brook Walnut Grove Sponsored Program(New Member Orientation) 50 08/14/14 Jackson Co. Central Sponsored Program(New Member Orientation) 75 08/14/14 Minneota Sponsored Program(New Member Orientation) 40 08/14/14 Lakeview Sponsored Program(New Member Orientation) 40 08/15/14 Mounds View Sponsored Program(All Member Orientation) /18/14 North St. Paul/Maplewood/Oakdale Sponsored Program(New Member Orientation) 35 08/20/14 Mankato Sponsored Program(New Member Orientation) 50 08/21/14 Elk River Sponsored Program(New Member Orientation) 60 08/21/14 Centennial Sponsored Program(New Member Orientation) 34 08/21/14 Osseo Sponsored Program(New Member Orientation)

29 ESI Workshops / Presentations / Exhibits September 1, August 31, 2014 Date Location/Local/Unit Exhibit Opportunity # 08/21/14 BRIC Sponsored Program(All Member Orientation) /21/14 St. Croix Sponsored Program(New Member Orientation) 35 08/21/14 Mahtomedi Sponsored Program(New Member Orientation) 35 08/22/14 Hastings Sponsored Program(New Member Orientation) 35 08/22/14 UTSWC Sponsored Program(New Member Orientation) /25/14 Mahtomedi Sponsored Program(All Member Orientation) /25/14 Robbinsdale Sponsored Program(All Member Orientation) /25/14 Brooklyn Center Sponsored Program(All Member Orientation) /25/14 Mesabi East Sponsored Program(New Member Orientation) 10 08/25/14 Norwood Young America Sponsored Program(New Member Orientation) 15 08/25/14 Cleveland Sponsored Program(New Member Orientation) 30 08/25/14 Onamia Sponsored Program(New Member Orientation) 12 08/25/14 Isle Sponsored Program(New Member Orientation) 4 08/25/14 Rush City Sponsored Program(New Member Orientation) 7 08/26/14 Sibley East Sponsored Program(New Member Orientation) 30 08/26/14 United South Central Sponsored Program(New Member Orientation) 30 08/26/14 GSL Sponsored Program(New Member Orientation) 30 08/26/14 St. Louis County Sponsored Program(New Member Orientation) 15 08/27/14 White Bear Lake Sponsored Program(New Member Orientation) 35 08/27/14 Greenway Sponsored Program(New Member Orientation) 10 08/27/14 LeSeuer-Henderson Sponsored Program(New Member Orientation) 30 08/28/14 Monticello Sponsored Program(New Member Orientation) /28/14 Waconia Sponsored Program(All Member Orientation) /28/14 White Bear Lake Sponsored Program(New Member Orientation) 35 08/28/14 Centennial Benefit Fair 479 Total 5,657 20

30 ESI Workshops / Presentations / Exhibits September 1, August 31, 2014 Note: 1. At the majority of the workshops, ESI and its business partners paid for either a breakfast, lunch or dinner for all attendees, or a portion of the cost. ESI also contributes gifts and prizes for all of the workshops. 2. The above does not reflect the 403(b) Match presentations by Kent Schutte and financial services representatives. Kent Schutte is the designated person to present Match information to boards and negotiators. The financial services advisors follow up with members once the match is in place. 3. The above does not reflect all financial services workshops by the 30 financial services advisors located throughout the state. 4. Additionally, ESI exhibits at all major Education Minnesota events and various local events, and provides member benefit materials to 4,000+ members. Fiscal Total Attendees: 2,977 Fiscal Total Attendees: 2,199 Fiscal Total Attendees: 2,657 Fiscal Total Attendees: 4,170 / 112 Workshops Fiscal Total Attendees: 4,665 / 125 Workshops Fiscal Total Attendees: 6,782 / 198 Workshops Fiscal Total Attendees: 6,320 / 166 Workshops Fiscal Total Attendees: 7,620 / 149 Workshops Fiscal Total Attendees: 4,605 / 142 Workshops Fiscal Total Attendees: 4,039 / 135 Workshops Fiscal Total Attendees: 4,426 / 119 Workshops Fiscal Total Attendees: 5,771 / 166 Workshops Fiscal Total Attendees: 4,947 / 165 Workshops Fiscal Total Attendees: 3,077 / 111 Workshops 7,442 / 73 Exhibit Opportunities Fiscal Total Attendees: 2,741 / 106 Workshops 5,657 / 63 Exhibit Opportunities 21

31 ESI Workshops / Presentations / Exhibits September 1, August 31, 2015 Date Location/Local/Unit Workshops/Presentation Type # 09/16/14 Mahtomedi ESP Sponsored Program(New Member Orientation) 50 09/17/14 Drive In Great Southwest United Pension Education/Investment Planning 16 09/22/14 Drive In Cannon Valley UniServ Pension Education/Investment Planning/LTC 17 09/23/14 Howard Lake/Waverly/Winsted Accumulating and Managing Assets 30 09/24/14 Drive In Southcentral Member Benefits Program/Product Value 9 09/24/14 Drive In Great Southwest United Pension Education/Investment Planning 10 10/01/14 Drive In Western South Pension Education/Investment Planning/LTC 25 10/01/14 Drive In Hiawatha Valley Financial/Retirement Planning 20 10/01/14 Drive In Northland United Financial/Retirement Planning 30 10/01/14 Drive In Kramer Brown Pension Education/Investment Planning 17 10/07/14 Westonka Sponsored Program(All Member Orientation) 50 10/08/14 Drive In Western North Pension Education/Investment Planning/LTC 26 10/08/14 Drive In DCUE Financial/Retirement Planning 12 10/14/14 MSCF - Minnesota Comm. & Tech College-Fergus FaFinancial/Retirement Planning 12 10/16/14 Education Minnesota Prof. Conf. The Principles of Wills/Trusts/Estate Planning/ LTCI 35 10/16/14 Education Minnesota Prof. Conf. Asset Accumulation/Investment Options/Financial Wellness 23 10/16/14 Education Minnesota Prof. Conf. Financial Concerns for Women 6 10/16/14 Education Minnesota Prof. Conf. What is the Status of your Pension? 35 10/16/14 MSCF Training Member Benefits Program/Product Value 35 10/17/14 Education Minnesota Part-Time Field Staff Member Benefits Program/Product Value 10 10/22/14 Drive In MN Valley Uniserv Pension Education/Investment Planning/LTC 26 10/23/14 MSCF - Hennepin Technical College - Eden Prairie C Financial/Retirement Planning 30 10/23/14 Minneapolis ESP Financial/Retirement Planning 14 10/29/14 DCUE Financial/Retirement Planning 30 10/29/14 MSCF - Vermillion CTC Financial/Retirement Planning 10 10/30/14 MSCF - Itasca CTC Financial/Retirement Planning 15 10/30/14 Minneapolis ESP Financial/Retirement Planning 15 11/05/14 Drive In Mid-Minnesota United Financial/Retirement Workshop 9 11/12/14 MSCF - Central Lake College - Brainerd Financial/Retirement Planning 15 11/12/14 Anoka Financial/Retirement Planning 33 11/13/14 Anoka Financial/Retirement Planning 35 11/13/14 MSCF - Ridgewater College - Willmar Campus Financial/Retirement Planning 15 11/17/14 MSCF - Century College - East Campus Financial/Retirement Planning 30 11/18/14 MSCF - South Central CTC - Faribault Campus Financial/Retirement Planning 15 11/18/14 MSCF - Riverland CTC - Austin Campus Financial/Retirement Planning 12 11/18/14 Eagan Community Center 2014 Fall Winter/Metro Area Financial/Retirement Workshop /20/14 Jimmy's Conference and Catering 2014 Fall Winter/Metro Area Financial/Retirement Workshop 63 11/20/14 MSCF - Anoka-Ramsey Comm. College - Coon RapidFinancial/Retirement Planning 30 12/02/14 Minnetonka Community Center 2014 Fall Winter/Metro Area Financial/Retirement Workshop 52 12/04/14 Maple Tavern 2014 Fall Winter/Metro Area Financial/Retirement Workshop 64 12/08/14 Mounds View Financial/Retirement Planning 22 22

32 ESI Workshops / Presentations / Exhibits September 1, August 31, 2015 Date Location/Local/Unit Workshops/Presentation Type # 12/09/14 Burnsville Financial/Retirement Planning 48 12/11/14 St. Cloud Retirement Planning 80 12/17/14 Inver Grove Heights Retirement Planning 25 01/03/15 Grand Casino Hinckley 2015 January/February Financial/Retirement Planning Workshop 35 01/08/15 Century College - White Bear Lake 2015 January/February Financial/Retirement Planning Workshop 37 01/10/15 Holiday Inn Alexandria 2015 January/February Financial/Retirement Planning Workshop 28 Exhibit ONLY Total 1,366 Date Location/Local/Unit Exhibit Opportunity # 10/02/14 Minneapolis ESP Finance Fair 25 10/27/14 North Suburban Service Unit Fall Drive In 50 11/06/14 Duluth UMD Health Fair 100 Note: 1. At the majority of the workshops, ESI and its business partners paid for either a breakfast, lunch or dinner for all attendees, or a portion of the cost. ESI also contributes gifts and prizes for all of the workshops. 2. The above does not reflect the 403(b) Match presentations by Kent Schutte and financial services representatives. Kent Schutte is the designated person to present Match information to boards and negotiators. The financial services advisors follow up with members once the match is in place. 3. The above does not reflect all financial services workshops by the 30 financial services advisors located throughout the state. 4. Additionally, ESI exhibits at all major Education Minnesota events and various local events, and provides member benefit materials to 4,000+ members. Total 175 Fiscal Total Attendees: 2,977 Fiscal Total Attendees: 2,199 Fiscal Total Attendees: 2,657 Fiscal Total Attendees: 4,170 / 112 Workshops Fiscal Total Attendees: 4,665 / 125 Workshops Fiscal Total Attendees: 6,782 / 198 Workshops Fiscal Total Attendees: 6,320 / 166 Workshops Fiscal Total Attendees: 7,620 / 149 Workshops Fiscal Total Attendees: 4,605 / 142 Workshops Fiscal Total Attendees: 4,039 / 135 Workshops Fiscal Total Attendees: 4,426 / 119 Workshops Fiscal Total Attendees: 5,771 / 166 Workshops Fiscal Total Attendees: 4,947 / 165 Workshops Fiscal Total Attendees: 3,077 / 111 Workshops 7,442 / 73 Exhibit Opportunities Fiscal Total Attendees: 2,741 / 106 Workshops 2,206 / 23 Exhibit Opportunities Fiscal Total Attendees: 1,366 / 47 Workshops 175/ 3 Exhibit Opportunities 23

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