Public Employees Retirement Association for the Deferred Compensation Plan

Transcription

1 Third Quarter 2017 Plan Review September 30, 2017 Public Employees Retirement Association for the Deferred Compensation Plan Administered by: Nationwide Retirement Solutions 10 W. Nationwide Boulevard X Columbus, OH Local Address: 3600 Rodeo Lane, Suite B1 Santa Fe, NM 87507

2 Table of Contents Section Topic Page(s) I Executive Summary 1 Participant Education Services -Enrollment Activity -Enrollment Activity Summary 2 -New Enrollment Contributions by Investment Options 2 -Investment Diversification - New Participants by Number of Funds 3 -Investment Diversification - New Participants by Number of Asset Classes 4 -Investment Diversification - New Participants Invested in LifeCycle Portfolios 5 -Group Meetings and Marketing Material Payout Activity -Payout Activity Summary -Unforeseeable Withdrawal Activity -Lump Sum/Non-Systematic Withdrawal Activity - Total Requests -Systematic Withdrawal Distribution - Total Dollar Amounts -Systematic Withdrawal Distribution - Total Participants -Rollovers In - Total Dollar Amounts -Rollovers In - Total Participants -Rollovers Out - Total Dollar Amounts -Rollovers Out - Total Participants -All Loans - Total Dollar Amounts -All Loans - Total Participants -All Loans - Total Amount of Default Loans -All Loans - Total Number of Default Loans -General Purpose Loans - Total Dollar Amounts -General Purpose Loans - Total Participants -Residential Purchase Loans - Total Dollar Amounts -Residential Purchase Loans - Total Participants -Self Directed Brokerage Options - Total Dollar Amounts -Self Directed Brokerage Options - Total Participants -Participant Services -Participant Statements -VRU Utilization -Internet Utilization -Online Advice -Customer Service Utilization -Spanish Customer Service Utilization -Participant Statistics -Average Participant Account Balance by Age Group -Participants with a Balance by Age Group -Average Annualized Participant Deferrals by Age Group -Participants Actively Deferring by Age Group -Participants with a Balance by Asset Range -Participants with Balance -Paycenters Participant Count II Fund Investments -Assets and Contributions Summary -Assets by Investment Carrier 32 -Contributions by Investment Carrier 33 -Assets by Asset Class Summary 34 -Assets by Asset Class Detail -Contributions by Asset Class Summary -Contributions by Asset Class Detail Investment Summary -Investment Diversification - All Participants by Number of Funds 40 -Investment Diversification - All Participants by Number of Asset Classes 41 -Investment Diversification - All Participants Invested in LifeCycle Portfolios 42 -Investment Performance - Total Return Fee Summary -Quarterly Fee Reconciliation 46

3 Executive Summary

4 3Q2017 Executive Summary Important Plan Stats & Demographics Current Assets: $583,013,496 (see page 32) Total Participants: 20,777 (see page 28) Median Account Balance: $6,734 Increased Contributions: 466 (see page 2) Reinstatements: 23 (see page 2) Rollovers-In Activity: 31 new rollovers in representing $660,267 (see page 16) Rollovers-Out Activity: 45 new rollovers out representing $4,312,814 (see page 17) Loan Activity: 253 loans totaling $1,513,052 approved (see page 18) UE Activity: 104 unforeseeable emergency requests totaling $181,889 approved (see page 13) Lifecycle Funds: 612 new participants enrolled in the lifecycle portfolios. (see page 5) 65.25% of participants are diversified in 5 or more asset classes. (see page 41) 63.25% of participants use Lifecycle Funds to achieve this diversification. (see page 42) Enrollment Activities Nationwide representatives enrolled 608 employees during the quarter, conducted 268 workshops and held 480 individual meetings reaching approximately 2,469 employees. Achievements The pension estimator was added to the New Mexico PERA website ( The new website banners were posted to the website. Mailed targeted fee structure change letters to participants. New fee structure was applied. The Nuestros Valeros Charter School and Middle Rio Grande Conservancy District plans were added. EZ enrollment form was included in the PERA member annual statement mailing. Upcoming Items PERA, NRS, Meketa annual strategy meeting. Fiscal Year 2016/17 audit is in its final reporting stages to be completed 4 th quarter. Discussion and planning around online enrollment and contribution changes. PERA, NRS and Meketa are working on a contract with Prudential to soon add the PRREF II Real Estate fund to the Lifecycle Portfolio lineup. Page 1

5 Participant Education Services

6 Enrollment Activity Enrollment Activity Summary 1, New Enrollments Increased Contributions Reinstatements Decreases Stops *There were 608 new enrollments signed and 635 new accounts that received first deferral by quarter end. New Enrollment Contributions by Investment Class Mid-Cap Stock 1.96% Small-Cap Stock 0.28% International Stock 2.99% Large-Cap Stock 6.59% Bonds 0.74% Balanced Funds 1.03% Specialty Funds 2.08% New Mexico Stable Value Fund 18.28% LifeCycle Portfolios 66.05% Investment Option 3Q17 New Enrollment Contributions % LifeCycle Portfolios $147, % International Stock $6, % Small-Cap Stock $ % Mid-Cap Stock $4, % Large-Cap Stock $14, % Bonds $1, % Balanced Funds $2, % Specialty $4, % New Mexico Stable Value Fund $40, % Total Investments $223, % Page 2

7 Enrollment Activity (continued) Investment Diversification - New Participants by Number of Funds Q17* One Two Three Four Five Six Seven Eight Nine Ten+ Number of Funds # of Participants 4Q16 # of Participants 1Q17 # of Participants 2Q17 # of Participants 3Q17* One Two Three Four Five Six Seven Eight Nine Ten Total # of New Participants** *These numbers represent the new participants who deferred into the plan by September 30, **Total # of participants includes those using one or more LifeCycle Portfolios. One LifeCycle Portfolio equals one fund. Page 3

8 Enrollment Activity (continued) Investment Diversification - New Participants by Number of Asset Classes One Two Three Four Five+** Number of Asset Classes # of Participants # of Participants # of Participants # of Participants One Two Three Four Five Total # of New Participants** *These numbers represent new participants who deferred into the plan by September 30, **Participants taking advantage of LifeCycle Portfolios are captured as investing in 5+ asset classes. Page 4

9 Enrollment Activity (continued) Investment Diversification - New Participants Using LifeCycle Portfolios to Achieve Diversification Conservative Portfolio LifeCycle 2015 Portfolio LifeCycle 2020 Portfolio LifeCycle 2025 Portfolio LifeCycle 2030 Portfolio LifeCycle 2035 Portfolio LifeCycle 2040 Portfolio LifeCycle 2045 Portfolio LifeCycle 2050 Portfolio LifeCycle 2055 Portfolio 173 Fund # of Participants # of Participants # of Participants # of Participants Conservative Portfolio LifeCycle 2015 Portfolio LifeCycle 2020 Portfolio LifeCycle 2025 Portfolio LifeCycle 2030 Portfolio LifeCycle 2035 Portfolio LifeCycle 2040 Portfolio LifeCycle 2045 Portfolio LifeCycle 2050 Portfolio LifeCycle 2055 Portfolio Total # of New Participants* * Total reflects duplicate counts for participants invested in more than one LifeCycle Portfolio. Page 5

10 Group Meeting Activity Summary Statistics 4,000 3,500 3,000 2,500 2,000 1,500 1,975 1,561 2,800 2,469 1, Number of Group Meetings* Total Attendance at Group Meetings** 1,975 1,561 2,800 2,469 Number of Individual Meetings *Number of Group Meetings has been adjusted to now reflect one meeting for both meeting presentations "Join It" and "Asset Allocation". **Total Attendance at Group Meetings has been adjusted to reflect the number of individuals attending each meeting which includes both presentations. Page 6

11 ENROLLING IN DEFERRED COMPENSATION HAS NEVER BEEN EZIER Enroll in the PERA SmartSave Deferred Compensation Plan today with the one-page What is Deferred Compensation? The PERA SmartSave Deferred Compensation Plan is an optional, supplemental 457(b) retirement savings plan that s intended to complement your regular PERA retirement benefit. New Mexico government employees are very fortunate to have a secure retirement program like PERA and PERA SmartSave that are available to them. How does it work? EZ Enrollment form on back! Payroll Deductions and Tax Deferred Contributions: Your contributions are made through automatic payroll deduction. You don t pay taxes on your contributions or investment earnings until you retire or begin taking payments from your account. This may lower your taxable income now, and later in retirement. Invest Your Money: Your contributions are invested in the funds that are available in the plan. If you don t know what investments to choose, the EZ Enrollment form will enroll you in a pre-built investment portfolio based on your age. (Investment options can be changed at any time.) Power of Time and Compounding: Compounding is the process of continually adding any earnings you might receive to the amount you contribute (principal) and then reinvesting them to create more potential earnings. The average monthly pension of a PERA retiree is $2,331 The average monthly social security benefit is $1,332 Only 11,500 of PERA s 48,000 active members are taking advantage of Deferred Compensation PERA wants all 48,000 members to take advantage of this opportunity in order to enjoy the kind of retirement that they deserve. The more time your money has to earn, the more opportunity for compounding. Contribution Amount Impact on Current Paycheck Accumulation 10 years Accumulation 20 years Accumulation 30 years $25 $18.75 $9,304 $27,605 $63,607 $50 $37.50 $18,607 $55,210 $127,214 $75 $56.25 $27,911 $82,815 $190,821 $100 $75.00 $37,214 $110,420 $254,428 $150 $ $55,821 $165,631 $381,642 This table shows the cumulative value of 26 biweekly deferral amounts over 10, 20, and 30 years, assuming a compound annual rate of 7% and a 25% federal tax rate, for a single person with an annual salary of $38,000 and one deduction for federal tax purposes. This illustration is hypothetical and is not intended to serve as a projection of the investment results of any specific investment. PERA or Nationwide cannot offer investment advice. Page 7

12 SEND OR FAX COMPLETED FORM TO: Nationwide Retirement Solutions 3600 Rodeo Lane Suite B1 Santa Fe, NM Phone: Fax: EZ Enrollment Form: 457(b) Plan PERSONAL INFORMATION (please print) Name Male Female Social Security Number Address City State Zip Home Phone Work Phone Address Date of Birth / / Number of pay periods per year Payroll Center/Employer Name Beneficiary Name DOB Relationship Percentage Participant Signature Date Retirement Specialist Name / Agent Number ENROLLMENT INSTRUCTIONS I want to enroll in the NM-PERA Program today and begin contributing: $ per pay period (Minimum of $10) I acknowledge that I have read the terms and conditions detailed below. I will be enrolled into the 457(b) plan. Your pre-tax payroll deduction amount will be invested in a LifeCycle fund closest to the year in which you turn 65. I understand that the earliest my enrollment can start is the first day of the month following my completed request, and that upon receipt of this form I will receive a welcome notice. Changes can be made at any time. Please be sure to provide your Social Security Number, signature, and date. TERMS AND CONDITIONS Upon receipt of this enrollment form, you will be provided a welcome kit which will include a Beneficiary Form, Memorandum of Understanding and Enrollment Kit or Basics Booklet with more detailed information on the provisions outlined below: My account balance will be held in trust for the exclusive benefit of me or my beneficiaries. I may cancel my participation, before my forms are processed, by calling within seven days from the date that I signed the enrollment form. Based on market fluctuations, the rate of return on my account could be either positive or negative. This could result in my account balance being worth less than my contributions. Investments may have underlying expenses or management fees that will reduce the investment results. Information on these expenses can be found in the investment profiles or the respective prospectus(es). Investment profiles and prospectus(es) can be found on the Plans website at The beneficiary will default to the participants estate in the event beneficiary information is not provided or incomplete. Fund prospectuses can be obtained by calling Read the prospectuses carefully before investing. Before investing, carefully consider the fund s investment objectives, risks, charges and expenses. The fund prospectus contains this and other important information. The Internal Revenue Service imposes rules which limit the times when I can make changes or receive withdrawals from the Program. At any time, I may change my contribution amount and the investment allocation of my current account balance. I may withdraw funds from the Program only upon: 1) Severance from employment (including termination or death) 2) An Unforeseeable Emergency (as defined by IRC section 457(b)) 3) Plans loan provision 4) Total disability 5) Attaining age 70 1/2 even if still employed. Although not required, withdrawals may begin after receipt of a Payout Request Form including my severance from employment and my employer s verification of severance. The funds in my account may be eligible for rollover to an IRA or to an eligible retirement plan upon severance from employment. The NM PERA Smart Save Plan is administered by Nationwide. Nationwide Retirement Solutions and Nationwide Life Insurance Company (collectively Nationwide ) have endorsement relationships with the National Association of Counties, and the International Association of Fire Fighters-Financial Corporation. More information about the endorsement relationships may be found online at Nationwide NRW-2199NM-NM.1 (01/16) Page 8

13 Group Meeting Activity (continued) Third Quarter 2017 Scheduled Group Meetings Entity/Agency Department/Meeting Type Location Rep Week Ending Attended City of Santa Fe New Employee Orientation Santa Fe Day 7/7/ General Services Department Santa Fe Day 7/7/ Santa Fe County New Employee Orientation Santa Fe Day 7/7/ Department of Transportation New Employee Orientation Santa Fe Day 7/7/ NM youth Challenge Roswell Miller 7/7/ Department of Transportation Grants Puckett 7/7/ Human Services Department Income Support - Randolph Albuquerque Puckett 7/7/ Taxation and Revenue Department New Employee Orientation Albuquerque Puckett 7/7/ Administrative Office of the District Attorney 2nd Judicial District Attorney Albuquerque Puckett 7/7/ City of Albuquerque John Marshall Center Albuquerque Puckett 7/7/ Public Education Department Santa Fe Day 7/14/ Economic Development Department Walk Around the Block - Montoya Building Santa Fe Day 7/14/ Department of Health Walk Around the Block - Runnels Building Santa Fe Day 7/14/ Department of Information and Technology Walk Around the Block - Simms Building Santa Fe Day 7/14/ Taxation and Revenue Department Walk Around the Block - Lujan Building Santa Fe Day 7/14/ Energy Minerals and Natural Resources Department Walk Around the Block - Chino Building Santa Fe Day 7/14/ Taxation and Revenue Department Las Cruces Miller 7/14/ Town of Mesilla Mesilla Miller 7/14/ Office of the Attorney General Las Cruces Miller 7/14/ City of Las Cruces Las Cruces Miller 7/14/ City of Albuquerque Fire Station 15 Albuquerque Puckett 7/14/ Children Youth and Families Department 2nd Street Albuquerque Puckett 7/14/ Human Services Department Income Support - Cutler Albuquerque Puckett 7/14/ PERA Retirement Seminar Albuquerque Puckett 7/14/ Human Services Department Income Support Lamberton - Lamberton Albuquerque Puckett 7/14/ Santa Fe County New Employee Orientation Santa Fe Day 7/21/ Department of Public Safety State Police Academy Santa Fe Day 7/21/ NM Behavioral Health Institute New Employee Orientation Santa Fe Day 7/21/ Department of Transportation Santa Fe Day 7/21/ Lea County Roads Lovington Miller 7/21/ Lea County Sheriff Lovington Miller 7/21/ Department of Health Lovington Miller 7/21/ Lea County Detention Lovington Miller 7/21/ Lea County Courthouse Lovington Miller 7/21/ Administrative Office of the Courts 5th Judicial District Court Lovington Miller 7/21/ Administrative Office of the District Attorney 5th Judicial District Attorney Hobbs Miller 7/21/ Lea County Environmental Division Hobbs Miller 7/21/ Lea County DWI Probation office Hobbs Miller 7/21/ Lea County Dispatch Hobbs Miller 7/21/ City of Albuquerque Fire Marshall Albuquerque Puckett 7/21/ Department of Workforce Solutions Albuquerque Puckett 7/21/ Division of Vocational Rehabilitation Rio Rancho Puckett 7/21/ Bernalillo County Retirement Seminar Albuquerque Puckett 7/21/ Bernalillo County Juvenile Detention Albuquerque Puckett 7/21/ Administrative Office of the District Attorney 2nd Judicial District Attorney Albuquerque Puckett 7/21/ Bernalillo County Clerk Albuquerque Puckett 7/21/ Bernalillo County County Manager Albuquerque Puckett 7/21/ Department of Workforce Solutions Santa Fe Day 7/28/ Vital Records & Statistics AM Santa Fe Day 7/28/ Vital Records & Statistics PM Santa Fe Day 7/28/ Department of Public Safety State Police Santa Fe Day 7/28/ Children Youth and Families Department Santa Fe Day 7/28/ Lincoln County Senior Center Hondo Miller 7/28/ Department of Transportation Hondo Miller 7/28/ Children Youth and Families Department Ruidoso Miller 7/28/ Department of Public Safety Ruidoso Miller 7/28/ Human Services Department Ruidoso Miller 7/28/ Administrative Office of the Courts Magistrate Court Ruidoso Miller 7/28/ City of Ruidoso Downs Ruidoso Miller 7/28/ Department of Health Ruidoso Miller 7/28/ Department of Health District Office Las Cruces Miller 7/28/ Department of Transportation Las Cruces Miller 7/28/ Worker's Compensation Administration Las Cruces Miller 7/28/ Bernalillo County Information and Technology Albuquerque Puckett 7/28/ Children Youth and Families Department Juvenile Detention Albuquerque Puckett 7/28/ City of Albuquerque Police Albuquerque Puckett 7/28/ Bernalillo County Sheriff Albuquerque Puckett 7/28/ Page 9

14 Santa Fe County New Employee Orientation Santa Fe Day 8/4/ Santa Fe County Community Services Santa Fe Day 8/4/ NM DOT Raton Day 8/4/ MCMC Acute Care AM Acute Care Raton Day 8/4/ MCMC Long Term Care PM Long Term Care Raton Day 8/4/ City of Raton Raton Day 8/4/ Raton Utilities Utilities Raton Day 8/4/ City of Las Cruces Fire Station 1 Las Cruces Miller 8/4/ City of Las Cruces Fire Station 6 Las Cruces Miller 8/4/ Town of Silver City City Hall Silver City Miller 8/4/ Town of Silver City Annex Silver City Miller 8/4/ Town of Silver City Police Silver City Miller 8/4/ Town of Silver City Public Works Silver City Miller 8/4/ Town of Silver City Recreation Silver City Miller 8/4/ Town of Silver City Fire Silver City Miller 8/4/ Town of Silver City Police Silver City Miller 8/4/ Department of Transportation Anthony Miller 8/4/ Department of Health Anthony Miller 8/4/ Human Services Department Anthony Miller 8/4/ Bernalillo County Fire Command Albuquerque Puckett 8/4/ Children Youth and Families Department Youth Diagnostic and Development Center Albuquerque Puckett 8/4/ City of Albuquerque Pino Yards Albuquerque Puckett 8/4/ City of Albuquerque Fire Marshall Albuquerque Puckett 8/4/ City of Albuquerque Solid Waste Albuquerque Puckett 8/4/ City of Albuquerque Fire Station 3 Albuquerque Puckett 8/4/ City of Santa Fe New Employee Orientation Santa Fe Day 8/11/ Human Services Department Santa Fe Day 8/11/ Regulation and Licensing Department Santa Fe Day 8/11/ Taxation and Revenue Department New Employee Orientation Santa Fe Day 8/11/ AFSCME Santa Fe Day 8/11/ City of Alamogordo Police Alamogordo Miller 8/11/ City of Alamogordo City Hall Alamogordo Miller 8/11/ City of Alamogordo Fire #5 Alamogordo Miller 8/11/ City of Alamogordo Recreation Cent Alamogordo Miller 8/11/ City of Alamogordo Library Alamogordo Miller 8/11/ Law Offices of the Public Defender Alamogordo Miller 8/11/ City of Alamogordo Water Treatment Alamogordo Miller 8/11/ City of Alamogordo Senior Center Alamogordo Miller 8/11/ City of Alamogordo City Hall Alamogordo Miller 8/11/ City of Alamogordo Utilities Alamogordo Miller 8/11/ Region IX Education Cooperative Ruidoso Miller 8/11/ City of Albuquerque Retirement Seminar Albuquerque Puckett 8/11/ Bernalillo County Sheriff Albuquerque Puckett 8/11/ Albuquerque Bernalillo County Water Utilities Authority Compass bank Albuquerque Puckett 8/11/ Bernalillo County Mountain View Community Center Albuquerque Puckett 8/11/ Bernalillo County Metropolitan Detention Center Albuquerque Puckett 8/11/ Department of Transportation New Employee Orientation Santa Fe Day 8/18/ Santa Fe County New Employee Orientation Santa Fe Day 8/18/ City of Santa Fe Santa Fe Day 8/18/ NM Behavioral Health Institute New Employee Orientation Las Vegas Day 8/18/ NM Behavioral Health Institute Staff Development Las Vegas Day 8/18/ San Juan County Retirement Seminar Aztec Day 8/18/ San Juan County Administration Aztec Day 8/18/ Dona Ana County Detention Las Cruces Miller 8/18/ Dona Ana County Roads Las Cruces Miller 8/18/ Dona Ana County Administration Las Cruces Miller 8/18/ Dona Ana County Fleet Las Cruces Miller 8/18/ Dona Ana County Sheriff Las Cruces Miller 8/18/ Dona Ana County Fire Anthony Miller 8/18/ Dona Ana County Sheriff Anthony Miller 8/18/ Children Youth and Families Department Anthony Miller 8/18/ City of Albuquerque Solid Waste Albuquerque Puckett 8/18/ City of Gallup Health Fair Gallup Puckett 8/18/ Worker's Compensation Administration Albuquerque Puckett 8/18/ Department of Health Developmental Disabilities Albuquerque Puckett 8/18/ PERA Santa Fe Day 8/25/ Department of Transportation Santa Fe Day 8/25/ NM DOT Health Fair Health Fair Santa Fe Day 8/25/ NM School for the Deaf Santa Fe Day 8/25/ Law Offices of the Public Defender AM Santa Fe Day 8/25/ Law Offices of the Public Defender PM Santa Fe Day 8/25/ Law Offices of the Public Defender Ruidoso Miller 8/25/ Village of Ruidoso Ruidoso Miller 8/25/ Lincoln County Substation Ruidoso Miller 8/25/ Page 10

15 Lincoln County Senior Center Ruidoso Miller 8/25/ Lincoln County Courthouse Carrizozo Miller 8/25/ Administrative Office of the Courts 12th Judicial District Court Carrizozo Miller 8/25/ Lincoln County Roads Capitan Miller 8/25/ Lincoln County Senior Center Capitan Miller 8/25/ Lincoln County Senior Center Corona Miller 8/25/ Lincoln County Sheriff Carrizozo Miller 8/25/ Lincoln County Assessor Carrizozo Miller 8/25/ Lincoln County Senior Center Carrizozo Miller 8/25/ City of Las Cruces Water Las Cruces Miller 8/25/ Children Youth and Families Department Protective Services Las Cruces Miller 8/25/ Central New Mexico Community College Retirement Seminar Albuquerque Puckett 8/25/ Bernalillo County Albuquerque Puckett 8/25/ Santa Fe County New Employee Orientation Santa Fe Day 9/1/ Department of Public Safety State Police - District 2 Las Vegas Day 9/1/ Highlands University Las Vegas Day 9/1/ Department of Transportation AM Santa Fe Day 9/1/ Department of Transportation PM Santa Fe Day 9/1/ Human Services Department Socorro Miller 9/1/ Administrative Office of the District Attorney 7th Judicial District Attorney Socorro Miller 9/1/ Administrative Office of the Courts 7th Judicial District Court Socorro Miller 9/1/ Children Youth and Families Department Socorro Miller 9/1/ Children Youth and Families Department Truth or Consequences Miller 9/1/ Dona Ana County Fire Dona Ana Miller 9/1/ Bernalillo County Metropolitan Detention Center Albuquerque Puckett 9/1/ Department of Finance and Administration Albuquerque Puckett 9/1/ CNM Benefits Fair Albuquerque Puckett 9/1/ Department of Game and Fish Regional meeting Albuquerque Puckett 9/1/ Bernalillo County Civic Plaza Albuquerque Puckett 9/1/ Children Youth and Families Department Santa Fe Day 9/8/ City of Santa Fe Training Santa Fe Day 9/8/ City of Santa Fe Streets Santa Fe Day 9/8/ Department of Corrections Southern NM Correctional Facility Las Cruces Miller 9/8/ Department of Veterans Services Veterans Home Truth or Consequences Miller 9/8/ Human Services Department Truth or Consequences Miller 9/8/ Administrative Office of the District Attorney 3rd Judicial District Attorney Las Cruces Miller 9/8/ City of Las Cruces Police AM Las Cruces Miller 9/8/ City of Las Cruces Police PM Las Cruces Miller 9/8/ Middle Rio Grande Conservancy District Albuquerque Puckett 9/8/ Middle Rio Grande Conservancy District Albuquerque Puckett 9/8/ Middle Rio Grande Conservancy District Cochiti Puckett 9/8/ Middle Rio Grande Conservancy District Belen Puckett 9/8/ Middle Rio Grande Conservancy District Socorro Puckett 9/8/ Taxation and Revenue Department New Employee Orientation Albuquerque Puckett 9/8/ City of Santa Fe New Employee Orientation Santa Fe Day 9/15/ Santa Fe County New Employee Orientation - Group 1 Santa Fe Day 9/15/ Santa Fe County New Employee Orientation - Group 2 Santa Fe Day 9/15/ NM Behavioral Health Institute New Employee Orientation Las Vegas Day 9/15/ Highlands University Las Vegas Day 9/15/ Department of Transportation Rowe Day 9/15/ City of Las Cruces Utilities Las Cruces Miller 9/15/ City of Las Cruces City Hall - AM Las Cruces Miller 9/15/ City of Las Cruces City Hall - PM Las Cruces Miller 9/15/ Department of Corrections Southern NM Correctional Facility Las Cruces Miller 9/15/ Bernalillo County Sherriff Albuquerque Puckett 9/15/ Bernalillo County Fire Command Albuquerque Puckett 9/15/ PERA Retirement Seminar Albuquerque Puckett 9/15/ City of Albuquerque Fire Station 15 - A Shift Albuquerque Puckett 9/15/ Middle Rio Grande Conservancy District Main Office Albuquerque Puckett 9/15/ City of Albuquerque Fire Station 15 - B Shift Albuquerque Puckett 9/15/ Department of Transportation Rowe Day 9/22/ Public Schools Insurance Authority Santa Fe Day 9/22/ School for the Deaf Santa Fe Day 9/22/ Northern NM College AM Espanola Day 9/22/ Northern NM College PM Espanola Day 9/22/ Public Regulation Commission Fire Academy Socorro Miller 9/22/ South Central Solid Waste Authority Landfill Las Cruces Miller 9/22/ South Central Solid Waste Authority Administration Las Cruces Miller 9/22/ South Central Solid Waste Authority Chaparral Miller 9/22/ Sierra County Administration Truth or Consequences Miller 9/22/ Page 11

16 Sierra County Dispatch Truth or Consequences Miller 9/22/ Sierra County Detention Truth or Consequences Miller 9/22/ Sierra County Sherriff Truth or Consequences Miller 9/22/ Sierra County Roads Truth or Consequences Miller 9/22/ Sierra County Clerk Truth or Consequences Miller 9/22/ Sierra County Assessor Truth or Consequences Miller 9/22/ Sierra County Treasurer Truth or Consequences Miller 9/22/ Children Youth and Families Department Girls Reintegration Albuquerque Puckett 9/22/ City of Albuquerque Animal Welfare Albuquerque Puckett 9/22/ Bernalillo County Youth Services Albuquerque Puckett 9/22/ Department of Workforce Solutions Workforce Solutions Albuquerque Puckett 9/22/ Bernalillo County Housing Albuquerque Puckett 9/22/ Department of Health Albuquerque Puckett 9/22/ General Services Department Santa Fe Day 9/29/ City of Santa Fe Fire Training - 10:00 AM - A Shift Santa Fe Day 9/29/ Santa Fe County New Employee Orientation Santa Fe Day 9/29/ City of Santa Fe Fire Training - 2:00 PM - A Shift Santa Fe Day 9/29/ City of Santa Fe Fire Training - 4:00 PM - A Shift Santa Fe Day 9/29/ City of Santa Fe Fire Training - 10:00 AM - B Shift Santa Fe Day 9/29/ City of Santa Fe Fire Training - 2:00 PM - B Shift Santa Fe Day 9/29/ City of Santa Fe Fire Training - 4:00 PM - B Shift Santa Fe Day 9/29/ City of Santa Fe Fire Training - 10:00 AM - C Shift Santa Fe Day 9/29/ Department of Public Safety Las Vegas Day 9/29/ City of Las Cruces Municipal Court Las Cruces Miller 9/29/ City of Las Cruces Eastside Senior Center Las Cruces Miller 9/29/ City of Las Cruces Munson Senior Center Las Cruces Miller 9/29/ City of Roswell Benefits Fair Roswell Miller 9/29/ Chaves County Benefits Fair Roswell Miller 9/29/ Bernalillo County Information and Technology Albuquerque Puckett 9/29/ Central New Mexico Community College Main Campus Albuquerque Puckett 9/29/ Albuquerque Bernalillo County Water Utilities Authority Wellness Fair Albuquerque Puckett 9/29/ Bernalillo County Accounting Albuquerque Puckett 9/29/ Page 12

17 Payout Activity Payout Activity Summary - Termination Requests Received by the local Santa Fe office due to Retirement or other Separation from Service. 4Q16 # of # of # of # of 1Q17 2Q17 3Q17 Payouts Payouts Payouts Payouts October 228 January 299 April 235 July 275 November 276 February 279 May 274 August 368 December 285 March 341 June 330 September 360 Total 789 Total 919 Total 839 Total 1,003 Unforeseeable Withdrawal Activity New Requests The unforeseeable withdrawal amount approved for 3Q17 is $181, Page 13

18 Payout Activity Lump Sum/Non-Systematic Withdrawal Activity New Requests The lump sum/non-systematic withdrawal amount approved for 3Q17 is $3,279, Page 14

19 Payout Activity (continued) Systematic Withdrawal Distribution - Total Dollar Amounts $2,200,000 $2,000,000 $1,927,681 $1,800,000 $1,600,000 $1,400,000 $1,200,000 $1,000,000 $987,262 $1,007,720 $996,995 $800,000 $600,000 $400,000 $200,000 $0 Total Amount Distributed to Participants $1,927,681 $987,262 $1,007,720 $996,995 Systematic Withdrawal Distribution - Total Participants $ $800 $700 $600 $500 $ $300 $200 $100 $0 Systematic Withdrawal Page 15

20 Payout Activity (continued) Rollovers In - Total Dollar Amounts 2,500,000 2,000,000 $2,020,010 1,500,000 $1,295,598 $1,458,711 1,000,000 $660, ,000 0 Total Amount of Incoming $2,020,010 $1,295,598 $1,458,711 $660,267 Rollovers In - Total Participants Total Number of Incoming Page 16

21 Payout Activity (continued) Rollovers Out - Total Dollar Amounts $5,000,000 $4,500,000 $4,000,000 $3,500,000 3,485,065 3,859,296 4,312,814 $3,000,000 $2,500,000 2,367,567 $2,000,000 $1,500,000 $1,000,000 $500,000 $0 Total Amount Distributed to Outgoing Rollovers $3,485,065 $2,367,567 $3,859,296 $4,312,814 Rollovers Out - Total Participants Total Number of Participants with Outgoing Rollovers Page 17

22 Payout Activity (continued) All Loans - Total Dollar Amounts $2,000,000 $1,800,000 $1,600,000 $1,685,899 $1,475,264 $1,708,957 $1,513,052 $1,400,000 $1,200,000 $1,000,000 $800,000 $600,000 $400,000 $200,000 Total Amount Distributed due to Loans $0 $1,685,899 $1,475,264 $1,708,957 $1,513,052 All Loans - Total Participants Total Participants With Outstanding Loans = 2, Total Number of Participants who Received Loans Page 18

23 Payout Activity (continued) All Loans - Total Amount of Default Loans $140,000 $120,000 $100,000 $80,000 $60,000 $48,220 $40,000 $20,000 $0 $17,555 $4,492 $2,961 Total Amount of Default Loans $48,220 $17,555 $4,492 $2,961 All Loans - Total Number of Default Loans Total Participants With Defaulted Loans = Total Number of Default Loans Page 19

24 Payout Activity (continued) General Purpose Loans - Total Dollar Amounts $1,800,000 $1,600,000 $1,400,000 $1,200,000 $1,624,399 $1,611,247 $1,419,201 $1,460,802 $1,000,000 $800,000 $600,000 $400,000 $200,000 Total Amount Distributed due to General Purpose Loans $0 $1,624,399 $1,419,201 $1,611,247 $1,460,802 General Purpose Loans - Total Participants Total Number of Participants who received General Purpose Loans Page 20

25 Payout Activity (continued) Residential Purchase Loans - Total Dollar Amounts $120,000 $100,000 $97,709 $80,000 $60,000 $61,500 $56,063 $52,250 $40,000 $20,000 $0 Total Amount Distributed due to Residential Purchase Loans $61,500 $56,063 $97,709 $52,250 Residential Purchase Loans - Total Participants Total Number of Participants who received Residential Purchase Loans Page 21

26 Payout Activity (continued) Self Directed Brokerage Options - Total Dollar Amounts $320,000 $280,000 $240,000 $239,549 $200,000 $160,000 $134,087 $120,000 $80,000 $74,460 $40,000 $0 $14,405 Total Amount Distributed due to Self Directed Brokerage Options $239,549 $134,087 $74,460 $14,405 Self Directed Brokerage Options - Total Participants Total Participants With Schwab Account = Total Number of Participants who moved funds into the Self Directed Brokerage Option Page 22

27 Participant Services Participant Services Utilization - Participant Statements -3Q17 statements were mailed on October 17th, Participant Services Utilization - VRU Establish PIN 7.08% Current Allocation 0.29% Allocation Completed 0.14% Account Balance by Fund 12.86% Exchange Completed 0.43% Prices Available 9.10% Prices Invested 0.00% Prices by Fund 0.00% Total Account Balance 0.00% Account Balance Inquiry 70.09% Activity 3Q17 Total % Account Balance Inquiry % Account Balance by Fund % Allocation Completed % Current Allocation % Establish Pin % Exchange Completed % Prices Available* % Prices Invested** % Prices by Fund % Total Account Balance % 692 *Prices Available are the share prices for all investment options offered under the plan. **Prices Invested are the share prices for those investment options that a participant is invested in. Page 23

28 Participant Services (continued) Participant Services Utilization - Internet Allocation Completed 0.39% Exchange Completed 0.86% Account Balance Inquiry 98.75% 128 Activity 3Q17 Total % Account Balance Inquiry Allocation Completed Exchange Completed 37, % 0.39% 0.86% 37,697 Participant Services Utilization - Online Advice Tool* Month 4Q16 1Q17 2Q17 3Q17 Month Month Month Totals Totals Totals Totals October 0 January 0 April 0 July 0 November 0 February 0 May 0 August 0 December 0 March 0 June 0 September 0 Qtrly Total 0 Qtrly Total 0 Qtrly Total 0 Qtrly Total 0 * Reflects total Guidance and Advice log-ins per quarter, not new accounts. Page 24

29 Participant Services (continued) Participant Services Utilization - Customer Service 1,800 1,600 1,400 1,200 1,000 1,311 1,045 1,487 1,351 1, Jul-17 Aug-17 Sep-17 July 2017 August 2017 September 2017 Calls Received 1,311 1,487 1,154 Calls Abandoned Calls Answered in 20 Seconds 1,045 1, % in 20 Seconds 79.71% 90.85% 79.46% Average Speed of Answer in Seconds 00:19 00:07 00:15 Participant Services Utilization - Spanish Customer Service Jul-17 Aug-17 Sep-17 July 2017 August 2017 September 2017 Calls Received Page 25

30 Participation Statistics Average Participant Account Balance by Age Group 80,000 70,000 60,000 50,000 40,000 30,000 20,000 10,000 0 $1,354 $1,480 $1,605 $1,521 $4,678 $4,686 $4,993 $4,609 $12,372 $12,291 $12,828 $12,374 $24,105 $24,720 $25,280 $24,798 $43,142 $43,112 $45,702 $43,488 $68,960 $70,273 $72,028 $73, & Under & Older Age Group 25 & Under $1,354 $1,480 $1,605 $1, $4,678 $4,686 $4,993 $4, $12,372 $12,291 $12,828 $12, $24,105 $24,720 $25,280 $24, $43,142 $43,112 $45,702 $43, & Older $68,960 $70,273 $72,028 $73,500 Participants with a Balance by Age Group The average account balance per participant is $28,060. 6,000 5,000 4,000 4,560 4,475 4,590 4,593 5,463 5,472 5,495 5,494 4,637 4,739 4,685 4,897 3,000 2,000 1, ,076 2,988 3,189 3,109 1,843 2,047 1,917 2, & Under & Older Age Group 25 & Under ,076 2,988 3,189 3, ,560 4,475 4,590 4, ,463 5,472 5,495 5, ,637 4,739 4,685 4, & Older 1,843 2,047 1,917 2,203 Page 26

31 Participation Statistics (continued) Average Annualized Participant Deferrals by Age Group 7,000 6,000 5,000 4,000 $6,261 $5,092 $5,074 $5,030 3,000 2,000 1,000 0 $1,099 $1,122 $1,142 $1,182 $1,389 $1,353 $1,378 $1,359 $1,763 $1,758 $1,720 $1,768 $2,480 $2,367 $2,308 $2,309 $3,465 $3,350 $3,417 $3, & Under & Older Age Group 25 & Under $1,099 $1,122 $1,142 $1, $1,389 $1,353 $1,378 $1, $1,763 $1,758 $128 $1, $2,480 $2,367 $2,308 $2, $3,465 $3,350 $3,417 $3, & Older $6,261 $5,092 $5,074 $5,030 Participants Actively Deferring by Age Group 4,500 4,000 3,500 3,000 3,644 3,602 3,686 3,712 3,749 3,801 3,818 3,880 2,500 2,000 1,500 2,521 2,475 2,643 2,571 2,419 2,541 2,425 2,683 1, & Under & Older Age Group 25 & Under ,521 2,475 2,643 2, ,644 3,602 3,686 3, ,749 3,801 3,818 3, ,419 2,541 2,425 2, & Older Page 27

32 Participation Statistics (continued) Participants with a Balance by Asset Range 17.87% 56.84% 11.05% 4.88% 2.48% 2.95% 1.39% 1.46% 0.61% 0.21% 0.27% # of Participants % # of Participants % Under $10,000 11, % $150,000-$199, % $10,000-$24,999 3, % $200,000-$299, % $25,000-$49,999 2, % $300,000-$399, % $50,000-$74,999 1, % $400,000-$499, % $75,000-$99, % Over $500, % $100,000-$149, % Total 20, % Participants with Balance 24,000 21,000 18,000 20,182 20,268 20,465 20,777 15,000 13,066 13,184 13,300 13,570 12,000 9,000 6,000 6,197 6,165 6,235 6,261 3, Total Plan Participants 20,182 20,268 20,465 20,777 Currently Contributing 13,066 13,184 13,300 13,570 Not Currently Contributing and not in Payout 6,197 6,165 6,235 6,261 Currently Receiving a Payout Page 28

33 Plan Name # Contributing # Not Contributing Total NM-PERA NEW MEXICO SCHOOL FOR THE DEAF NM-PERA VILLAGE OF CORONA NM-PERA COUNTY OF SIERRA NM-PERA CATRON COUNTY NM-PERA SAN JUAN COMMUNICATIONS AUTH NM-PERA VILLAGE OF MAGDALENA NM-PERA REGIONAL HOUSING AUTHORITY IV NM-PERA VALENCIA COUNTY NM-PERA RIO ARRIBA COUNTY NM-PERA VILLAGE OF COLUMBUS NM-PERA CITY OF LAS CRUCES NM-PERA CITY OF PORTALES NM-PERA CITY OF TUCUMCARI NM-PERA DE BACA GENERAL HOSPITAL NM-PERA CITY OF GALLUP NM-PERA SAN MIGUEL COUNTY NM-PERA GUADALUPE COUNTY NM-PERA OTERO COUNTY NM-PERA COUNTY OF SOUTHERN SANDOVAL NM-PERA TRUTH-CONSEQUENCES HOUSING AUTH NM-PERA CURRY COUNTY NM-PERA CITY OF ALAMOGORDO NM-PERA EDDY COUNTY NM-PERA CITY OF LAS VEGAS NM-PERA VILLAGE OF JEMEZ SPRINGS NM-PERA CITY OF BLOOMFIELD NM-PERA CENTRAL REGION EDUCATION CO-OP NM-PERA ELEPHANT BUTTE IRRIGATION DIST NM-PERA SANTA FE COUNTY NM-PERA CITY OF LOVINGTON NM-PERA VILLAGE OF SAN JON NM-PERA TOWN OF RED RIVER NM-PERA TOWN OF EDGEWOOD NM-PERA CHAVES COUNTY NM-PERA LUNA COMMUNITY COLLEGE NM-PERA PENASCO INDEPEND SCHOOL SYSTEM NM-PERA LAS VEGAS CITY SCHOOLS NM-PERA COUNTY OF GRANT NM-PERA LEA COUNTY NM-PERA N.M. INSTITUTE OF MINING & TECH NM-PERA QUAY COUNTY NM-PERA COUNTY OF LINCOLN NM-PERA CITY OF RATON NM-PERA VILLAGE OF LOS RANCHOS NM-PERA NEW MEXICO HIGHLANDS UNIVERSITY NM-PERA CITY OF TRUTH OR CONSEQUENCES NM-PERA VILLAGE OF TULAROSA NM-PERA CITY OF GRANTS NM-PERA STATE OF NM DEPT OF FIN & ADMIN NM-PERA CARRIER TINGLEY HOSPITAL NM-PERA NEW MEXICO STATE FAIR COMM NM-PERA SANTA FE PUBLIC SCHOOLS Page 29

34 Plan Name # Contributing # Not Contributing Total NM-PERA CITY OF CARLSBAD NM-PERA TOWN OF SILVER CITY NM-PERA MORA COUNTY NM-PERA CITY OF HOBBS NM-PERA COLFAX COUNTY NM-PERA HIGH PLAINS REG. COOPERATIVE # NM-PERA CENTRAL NM COMMUNITY COLLEGE CNM NM-PERA VILLAGE OF LOGAN NM-PERA ROOSEVELT COUNTY NM-PERA VILLAGE OF RUIDOSO NM-PERA SANTA FE COMMUNITY COLLEGE NM-PERA TOWN OF TAOS NM-PERA LUNA COUNTY NM-PERA SANTA FE COUNTY HOUSING AUTH NM-PERA VILLAGE OF ANGEL FIRE NM-PERA MESILLA VALLEY PUBLIC HOUSING AUTHORITY NM-PERA NM REGION IX EDUCATION CO-OP NM-PERA CITY OF ARTESIA NM-PERA RUIDOSO DOWNS NM-PERA CITY OF SANTA FE NM-PERA VILLAGE OF CUBA NM-PERA VILLAGE OF LOVING NM-PERA ALBUQUERQUE PUBLIC SCHOOLS NM-PERA NO CENTRAL N.M. ECON DVPT DEPT NM-PERA SAN JUAN COUNTY NM-PERA MCKINLEY COUNTY NM-PERA SOUTHWEST COUNCIL OF GOV NM-PERA CITY OF AZTEC NM-PERA CITY OF ALBUQUERQUE NM-PERA VILLAGE OF LOS LUNAS NM-PERA TOWN OF ESTANCIA NM-PERA ARCH HURLEY CONSERVANCY DISTRICT NM-PERA CITY OF MORIARTY NM-PERA NM REGION IX HEADSTART NM-PERA NEW MEXICO DCP NM-PERA SOCORRO COUNTY NM-PERA CITY OF EUNICE NM-PERA NORTH CENTRAL REG TRANSIT DIST NM-PERA TOWN OF MESILLA NM-PERA CITY OF SUNLAND PARK NM-PERA CITY OF SOCORRO NM-PERA CITY OF FARMINGTON NM-PERA CITY OF ESPANOLA NM-PERA SOUTHEASTERN N.M. ECON DEV DIST NM-PERA NORTHERN NEW MEXICO COLLEGE NM-PERA VILLAGE OF CLOUDCROFT NM-PERA SCHOOL FOR THE BLIND & VIS IMPRD NM-PERA HIDALGO COUNTY NM-PERA DONA ANA COUNTY NM-PERA SANTA FE CIVIC HOUSING AUTHORITY NM-PERA VILLAGE OF QUESTA NM-PERA UNION COUNTY Page 30

35 Plan Name # Contributing # Not Contributing Total NM-PERA CITY OF SANTA ROSA NM-PERA VILLAGE OF TAOS SKI VALLEY NM-PERA SOCORRO SOIL AND WATER CONSERVATION DIST NM-PERA TAOS COUNTY NM-PERA SOUTH CENTRAL COUNCIL OF GOVERNMENTS NM-PERA NORTH CENTRAL SOLID WASTE AUTHORITY NM-PERA CITY OF DEMING NM-PERA TORRANCE COUNTY NM-PERA SANDOVAL COUNTY NM-PERA BERNALILLO COUNTY NM-PERA THE DISCIPLINARY BOARD - NM SUPREME COURT NM-PERA ELDORADO AREA WATER & SANITATION DISTRICT NM-PERA ALBUQUERQUE BERNALILLO CO WATER UTIL DIST NM-PERA GRANT COUNTY SOLID WASTE AUTHORITY NM-PERA TAOS SOIL & WATER CONSERVATION DIST NM-PERA EAST TORRANCE SWCD NM-PERA SANTA CLARA HOUSING AUTHORITY NM-PERA EMW GAS ASSOCIATION NM-PERA HARDING COUNTY NM-PERA REGIONAL EMERGENCY DISPATCH AUTHORITY NM-PERA VILLAGE OF SANTA CLARA NM-PERA VILLAGE OF MILAN NM-PERA ESTANCIA VALLEY SOLID WASTE AUTHORITY NM-PERA CITY OF ROSWELL NM-PERA CITY OF LORDSBURG NM-PERA TOWN OF SPRINGER NM-PERA DE BACA FAMILY PRACTICE CLINIC NM-PERA VILLAGE OF EAGLE NEST NM-PERA RATON PUBLIC SERVICE CO NM-PERA ALBUQUERQUE SIGN LANGUAGE ACADEMY NM-PERA CITY OF ELEPHANT BUTTE NM-PERA VILLAGE OF FORT SUMNER NM-PERA MIDDLE RIO GRANDE CONSERVANCY DISTRICT Total 13,916 6,859 20,775 Page 31

36

37 Fund Investments

38 Assets and Contributions Summaries Assets by Investment Carrier $700,000,000 $600,000,000 $500,000,000 $531,602,622 $554,345,002 $567,972,152 $584,119,566 $400,000,000 $300,000,000 $200,000,000 $100,000,000 $0 Carrier Aegon/Monumental ULI (Cash Value) $447,268 $428,249 $432,207 $427,938 Transamerica Assurance ULI (Cash Value) $703,747 $686,742 $688,151 $678,132 New Mexico Deferred Compensation Mutual Funds, LifeCycle Portfolios, $530,451,607 $553,230,011 $566,851,794 $583,013,496 Stable Value Account, SDO, and Loans Total Assets $531,602,622 $554,345,002 $567,972,152 $584,119,566 Page 32

39 Assets and Contributions Summaries (continued) Contributions by Investment Carrier $10,000,000 $8,000,000 $7,257,699 $8,202,691 $7,545,762 $8,212,693 $6,000,000 $4,000,000 $2,000,000 $0 Carrier Aegon/Monumental ULI $3,869 $4,175 $3,620 $1,517 Transamerica Life ULI $5,447 $6,181 $5,169 $1,930 New Mexico Deferred Compensation Mutual Funds, LifeCycle Portfolios, Stable Value $7,248,383 $8,192,335 $7,536,974 $8,209,246 Account, SDO, and Loans Total Contributions $7,257,699 $8,202,691 $7,545,762 $8,212,693 Page 33

40

41 Assets by Asset Class Summary New Mexico Loan Account 2.00% Balanced Funds 3.62% Bonds 4.18% New Mexico Stable Value Fund 23.27% Self-Directed Option 0.82% Specialty 0.36% Large-Cap Stock 26.55% LifeCycle Portfolios 24.03% International Stock 4.54% Mid-Cap Stock 8.36% Small-Cap Stock 2.29% Investment Option 3Q17 % LifeCycle Portfolios $143,109, % International Stock $27,432, % Small-Cap Stock $12,849, % Mid-Cap Stock $48,905, % Large-Cap Stock $155,724, % Bonds $23,269, % Balanced Funds $21,353, % New Mexico Loan Account $11,641, % New Mexico Stable Value Fund $131,889, % Self-Directed Option $4,720, % Specialty $2,116, % Total Investments $583,013, % Page 34

42 Assets and Contributions Summaries (continued) Assets by Asset Class Detail Asset Class/Fund Name 4Q16 % 1Q17 % 2Q17 % 3Q17 % 3Q17 # of Participants Asset Allocation Conservative Portfolio $35,784, % $37,065, % $38,187, % $39,009, % 2,331 LifeCycle 2015 Portfolio $0 0.00% $0 0.00% $0 0.00% $0 0.00% 0 LifeCycle 2020 Portfolio $1,491, % $1,412, % $1,711, % $2,184, % 175 LifeCycle 2025 Portfolio $40,952, % $43,483, % $45,311, % $47,593, % 3,182 LifeCycle 2030 Portfolio $1,580, % $1,532, % $1,961, % $2,216, % 328 LifeCycle 2035 Portfolio $22,695, % $24,225, % $25,604, % $26,852, % 2,761 LifeCycle 2040 Portfolio $1,875, % $2,162, % $2,348, % $2,516, % 374 LifeCycle 2045 Portfolio $12,295, % $13,254, % $14,249, % $15,111, % 2,000 LifeCycle 2050 Portfolio $640, % $791, % $770, % $989, % 443 LifeCycle 2055 Portfolio $5,103, % $5,420, % $6,066, % $6,635, % 1,548 Total $122,419, % $129,349, % $136,211, % $143,109, % Specialty INVESCO Global Real Estate Fund -R5 $1,928, % $1,685, % $1,639, % $1,694, % 329 Principal Diversified Real Asset Fund - Institutional $384, % $369, % $399, % $421, % 103 Total $2,313, % $ % $2,038, % $2,116, % International Stock Aberdeen Emerging Markets Equity Fund Instl Class $1,962, % $2,497, % $2,664, % $3,082, % 391 American Funds - Europacific Growth Fund - R6 $7,732, % $8,380, % $9,232, % $9,836, % 1,031 Fidelity Diversified International Fund (Class K) $9,733, % $10,218, % $10,963, % $11,547, % 1,515 Vanguard(R) Total International Stock Index Fund - Signal(TM) Shares $2,136, % $2,550, % $2,893, % $2,965, % 360 Total $21,565, % $23,647, % $25,753, % $27,432, % Small-Cap Stock DFA U.S. Small Cap Portfolio $12,622, % $13,217, % $12,955, % $12,849, % 1,777 Total $12,622, % $13,217, % $12,955, % $12,849, % Mid-Cap Stock Fidelity Low-Priced Stock (Class K) $7,884, % $8,301, % $8,369, % $8,482, % 887 Principal Mid Cap Blend Inst Fund $10,624, % $11,800, % $12,304, % $12,801, % 1,251 T. Rowe Price Inst Mid-Cap Equity Growth Fund $24,766, % $25,673, % $26,713, % $27,621, % 2,151 Total $43,275, % $45,775, % $47,386, % $48,905, % Large-Cap Stock Dodge & Cox Stock Fund $28,219, % $30,980, % $30,880, % $31,730, % 2,163 Fidelity Contrafund (Class K) $33,892, % $35,738, % $38,263, % $41,283, % 2,245 Vanguard Institutional Index (Instl Shares) $76,324, % $79,842, % $81,346, % $82,711, % 3,536 Total $138,436, % $146,561, % $150,490, % $155,724, % Total Plan Assets by Asset Class Page 35