LSU VOLUNTARY 403B PLAN

Transcription

1 P E R F O R M A N C E U P D A T E LSU VOLUNTARY 403B PLAN Average Annual Total Returns as of: 06/30/2015 (shown in percentages) Mutual funds offered through a retirement plan are investments designed for retirement purposes. Early withdrawals will reduce your account value and if taken prior to age 59 1/2, a 10% IRS penalty may apply. The performance data quoted represents past performance. Past performance does not guarantee future results. For monthend performance which may be lower or higher than the performance data shown please call Investment return and principal value of an investment will fluctuate so that, when sold, an investment may be worth more or less than the original cost. The returns assume reinvestment of all dividends (ordinary income and capital gains) and are net of management fees and other fund operating expenses. An asset based Administrative Fee is deducted from your account quarterly at an annual rate of 0.20% of balances held in each of the mutual funds. This fee does not apply to assets held in Voya Fixed Plus Account III. These returns do not reflect any level administrative fees, if applicable; if reflected, returns would be less favorable. You should consider the investment objectives, risks and charges, and expenses of the funds carefully before investing. The prospectus contains this and other information. Anyone who wishes to obtain a free copy of the fund prospectuses may call their Voya representative or the number above. Please read the prospectus carefully before investing. Returns less than one year are not annualized. Inception Date is the date of inception for the underlying fund, and is the date used in calculating the periodic returns. This date may also precede the portfolio's inclusion in the product. Investment Options 1-Mo 3-Mo YTD 1-Yr 3-Yr 5-Yr 10-Yr Incept Stability of Principal Stability of Principal Voya Fixed Plus Account III (1)(2)(28) Bonds Inception Date Gross Net Bank Loan Oppenheimer Senior Floating Rate - Class Y (3) /08/ Corporate Bond Delaware Extended Duration Bond - Class A (4) /15/ High Yield Bond RidgeWorth High Income - Class A Shares (5) /27/ Inflation-Protected Bond PIMCO Real Return - Class A (6) /29/ Intermediate-Term Bond Metropolitan West Total Return Bond - Class M Shares (7) /31/ TCW Total Return Bond - Class N (8) /01/ Multi-Sector Bond PIMCO Income - Class A /30/ Short Government Loomis Sayles Limited Term Government and Agency - Cl Y (9) /31/ World Bond Templeton Global Bond - Class A (10) /18/ Asset Allocation Lifecycle T. Rowe Price Retirement Advisor Class /31/ Page 1 of 6

2 Investment Options 1-Mo 3-Mo YTD 1-Yr 3-Yr 5-Yr 10-Yr Incept T. Rowe Price Retirement Advisor Class T. Rowe Price Retirement Advisor Class T. Rowe Price Retirement Advisor Class T. Rowe Price Retirement Advisor Class T. Rowe Price Retirement Advisor Class T. Rowe Price Retirement Advisor Class T. Rowe Price Retirement Advisor Class T. Rowe Price Retirement Advisor Class T. Rowe Price Retirement Advisor Class T. Rowe Price Retirement Advisor Class Balanced Inception Date Gross Net /31/ /31/ /31/ /31/ /31/ /31/ /31/ /31/ /29/ /31/ Conservative Allocation Franklin Income - Class A /31/ T. Rowe Price Retirement Balanced - Advisor Class /31/ Moderate Allocation VY T. Rowe Price Capital Appreciation Portfolio - Service Large Cap Value /24/ Large Blend Amana Income - Investor Class /23/ American s amental InvestorsSM - Class R /01/ Columbia Large Cap Index - Class A Shares /10/ Parnassus Core Equity SM - Investor Shares /31/ Large Value T. Rowe Price Value - Advisor Class (24) /31/ Large Cap Growth Large Growth Amana Growth - Investor Class /03/ American s The New Economy - Class R-4 (25) /01/ ClearBridge Aggressive Growth - Class I (12) /30/ Voya Large Cap Growth Portfolio - Service Class (13) /03/ Small/Mid/Specialty Mid-Cap Blend ASTON/Fairpointe Mid Cap - Class N /19/ Columbia Mid Cap Index - Class A Shares (14) /31/ Mid-Cap Growth Dreyfus/The Boston Company Small/Mid Cap Growth - Cl I /31/ VY Baron Growth Portfolio - Initial Class (15) /01/ VY FMR Diversified Mid Cap Portfolio - Service Class /02/ Mid-Cap Value Invesco American Value - Class Y (16) /18/ Small Blend Page 2 of 6

3 Investment Options 1-Mo 3-Mo YTD 1-Yr 3-Yr 5-Yr 10-Yr Incept Inception Date Gross Columbia Small Cap Index - Class A Shares /15/ Small Growth Voya SmallCap Opportunities Portfolio - Class I (17) /06/ Small Value Delaware Small Cap Value - Institutional Class /09/ Specialty - Precious Metals Wells Fargo Advantage Precious Metals - Class A (18) Net /20/ Specialty - Real Estate VY Clarion Real Estate Portfolio - Service Class (19) /24/ Specialty - Utilities MFS Utilities - Class R /14/ Global / International Diversified Emerging Mkts American s New World - Class R /17/ Foreign Large Blend Dodge & Cox International Stock /01/ MFS International Value - Class R3 (20) /24/ Foreign Large Growth American s EuroPacific Growth - Class R-4 (26) /16/ Oppenheimer International Growth - Class A (21) /25/ Foreign Small/Mid Growth Oppenheimer International Small Company - Class A (22) World Stock American s New Perspective - Class R-4 (27) /17/ /13/ American s SMALLCAP World - Class R /24/ Voya Global Value Advantage Portfolio - Class S (23) /28/ The risks of investing in small company stocks may include relatively low trading volumes, a greater degree of change in earnings and greater short-term volatility. Foreign investing involves special risks such as currency fluctuation and public disclosure, as well as economic and political risks. Some of the s invest in securities guaranteed by the U.S. Government as to the timely payment of principal and interest; however, shares of the s are not insured nor guaranteed. High yielding fixed-income securities generally are subject to greater market fluctuations and risks of loss of income and principal than are investments in lower yielding fixed-income securities. Sector funds may involve greater-than average risk and are often more volatile than funds holding a diversified portfolio of stocks in many industries. Examples include: banking, biotechnology, chemicals, energy, environmental services, natural resources, precious metals, technology, telecommunications, and utilities. *The Gross Expense Ratios shown do not reflect any temporary fee or expense waivers that may be in effect for a fund. The performance of a fund with a temporary fee or expense waiver would have been lower if the gross fund fees / expenses listed had been reflected. (1)The CURRENT rate for the Voya Fixed Plus Account III Base + 115, 4020 is 3.00%, expressed as an annual effective yield, and is guaranteed not to drop below 2.70% through 12/31/2015. The annual rate of interest applied to your account may be higher or lower than the current rate. Restrictions may apply to transfers of funds from the Fixed Account to other contract investment options. Please refer to your product prospectus / disclosure booklet and call your 800 number for more information. (2)Voya Fixed Plus Account III Base - Voya will credit interest at an annual effective rate of 3.00% through 12/31/2015 and 2.50% from 01/01/2016 through 12/31/2016, both of which are higher than the standard Voya Fixed Plus Account III credited rate. Currently, the standard Voya Fixed Plus Account III credited rate is 2.10%, guaranteed not to be less than 1.90% through December 31, Beginning 01/01/2017 and thereafter, the credited rate for your plan will be the same as the standard Voya Fixed Plus Account III credited rate in effect at that time. Please note the Guaranteed Minimum Interest Rate is 1.00%. Guarantees are based on the claims- Page 3 of 6

4 paying ability of Voya Retirement Insurance and Annuity Company. Restrictions may apply to transfers of funds from the Voya Fixed Plus Account III to other contract investment options. Please refer to your product prospectus / disclosure booklet or call your 800 number for more information. (3)Oppenheimer Senior Floating Rate - Class Y: After discussions with the 's Board, the Manager has contractually agreed to waive fees and/or reimburse expenses in an amount equal to the indirect management fees incurred through the 's investment in funds managed by the Manager or its affiliates. This fee waiver and/or expense reimbursement may not be amended or withdrawn for one year from the date of the prospectus, unless approved by the Board. (4)Delaware Extended Duration Bond - Class A: The distribution and service (12b-1) fees have been restated to reflect a permanent reduction in their fees to 0.25%. The 's investment manager, Delaware Management Company (Manager), is contractually waiving its investment advisory fees and/or paying expenses (excluding any 12b-1 fees, acquired fund fees and expenses, taxes, interest, inverse floater program expenses, short sale and dividend interest expenses, brokerage fees, certain insurance costs, and nonroutine expenses or costs, including, but not limited to, those relating to reorganizations, litigation, conducting shareholder meetings, and liquidations) to the extent necessary to prevent total annual fund operating expenses from exceeding 0.71% of the 's average daily net assets from Nov. 27, 2013 through Nov. 28, These waivers and reimbursements may only be terminated by agreement of the Manager and the Distributor, as applicable, and the. (5)RidgeWorth High Income - Class A Shares: The Adviser and Subadviser have contractually agreed to waive fees and reimburse expenses until at least August 1, 2014, in order to keep Total Annual Operating Expenses (excluding, as applicable, taxes, brokerage commissions, substitute dividend expenses on securities sold short, interest expense, extraordinary expenses and Acquired Fees and Expenses) from exceeding 1.08%. This agreement shall terminate upon the termination of the Investment Advisory Agreement between RidgeWorth s and the Adviser, or it may be terminated upon written notice to the Adviser by RidgeWorth s. (6)PIMCO Real Return - Class A: "Other Expenses" reflect interest expense. Interest expense results from the 's use of certain investments such as reverse repurchase agreements. Such expense is required to be treated as a expense for accounting purposes and is not payable to PIMCO. Any interest expense amount will vary based on the 's use of those investments as an investment strategy best suited to seek the objective of the. Total Annual Operating Expenses excluding interest expense is 0.85%. (7)Metropolitan West Total Return Bond - Class M Shares: Metropolitan West Asset Management, LLC (the "Adviser") has contractually agreed to reduce advisory fees and/or reimburse expenses, including distribution expenses, to limit the 's total annual operating expenses (excluding interest, taxes, brokerage commissions, short sale dividend expenses, acquired fund fees and expenses, and any expenses incurred in connection with any merger or reorganization or extraordinary expenses such as litigation) to 0.65%. The Adviser may recoup reduced fees and expenses within three years, subject to any applicable expense limit at the time of recoupment. This contract will remain in place until July 31, Although it does not expect to do so, the Board of Trustees is permitted to terminate that contract sooner in its discretion with written notice to the Adviser. (8)TCW Total Return Bond - Class N: The 's investment advisor has agreed to waive fees and/or reimburse expenses to limit the 's total annual operating expenses (excluding interest and acquired fund fees and expenses, if any) to 0.79% of average daily net assets. This contractual fee waiver/expense reimbursement is for the period March 1, 2014 through February 28, At the conclusion of this period, the 's investment advisor, in its sole discretion, may extend, terminate or otherwise modify the contractual fee waiver/expense reimbursement. (9)Loomis Sayles Limited Term Government and Agency - Class Y: Loomis, Sayles & Company, L.P. ("Loomis Sayles" or the "Adviser") has given a binding contractual undertaking to the to limit the amount of the 's total annual fund operating expenses to 0.55% of the 's average daily net assets, exclusive of brokerage expenses, interest expense, taxes, acquired fund fees and expenses, organizational and extraordinary expenses, such as litigation and indemnification expenses. This undertaking is in effect through January 31, 2015 and may be terminated before then only with the consent of the 's Board of Trustees. The Adviser will be permitted to recover management fees waived and/or expenses reimbursed to the extent that expenses in later periods fall below 0.55% of the 's average daily net assets. The will not be obligated to repay any such waived/reimbursed fees and expenses more than one year after the end of the fiscal year in which the fees or expenses were waived/reimbursed. (10)Templeton Global Bond - Class A: Management has contractually agreed in advance to reduce its fee as a result of the 's investment in a Franklin Templeton money fund (acquired fund) for at least the next 12-month period. Contractual fee waiver and/or expense reimbursement agreements may not be terminated during the term set forth above. Total annual operating expenses differ from the ratio of expenses to average net assets shown in the Financial Highlights, which reflect the operating expenses of the and do not include acquired fund fees and expenses. T.Rowe Price s: This fund provides a simplified option for retirement investing including professional management, broadbased diversification, and low-cost management fees. The principal value of the Retirement s is not guaranteed at any time, including at or after the target date, which is the approximate date when investors turn age 65. The funds invest in a broad range of underlying mutual funds that include stocks, bonds, and short-term investments and are subject to the risks of different areas of the market. The funds emphasize potential capital appreciation during the early phases of retirement asset accumulation, balance the need for appreciation with the need for income as retirement approaches, and focus more on income and principal stability during retirement. The funds maintain a substantial allocation to equities both prior to and after the target date, which can result in greater volatility. In general, the stock portion of the portfolio is subject to market risk, or falling share prices. The bond portion will be affected by interest Page 4 of 6

5 rate and credit risk. See Performance Introduction Page for Important Information (12)ClearBridge Aggressive Growth - Class I: The manager has agreed to waive fees and/or reimburse operating expenses (other than interest, brokerage, taxes, extraordinary expenses and acquired fund fees and expenses) so that total annual operating expenses are not expected to exceed 1.00%. This arrangement cannot be terminated prior to December 31, 2015 without the Board of Trustees' consent. The manager is permitted to recapture amounts waived and/or reimbursed to a class during the same fiscal year if the class' total annual operating expenses have fallen to a level below the limits described above. (13)Voya Large Cap Growth Portfolio - Service Class: The adviser is contractually obligated to limit expenses to 0.85% through May 15, 2015; the obligation does not extend to interest, taxes, brokerage commissions, extraordinary expenses, and Acquired Fees and Expenses. The obligation will automatically renew for one-year terms unless: (i) the adviser provides 90 days written notice of its termination and such termination is approved by the Portfolio's board; or (ii) the management agreement has been terminated. The obligation is subject to possible recoupment by the adviser within 36 months of the waiver or reimbursement. (14)Columbia Mid Cap Index - Class A Shares: Columbia Management Investment Advisers, LLC and certain of its affiliates have contractually agreed to waive fees and/or to reimburse expenses (excluding transaction costs and certain other investment related expenses, interest, taxes, acquired fund fees and expenses, and extraordinary expenses) until June 30, 2015, unless sooner terminated at the sole discretion of the 's Board of Trustees. Under this agreement, the 's net operating expenses, subject to applicable exclusions, will not exceed the annual rate of 0.45%. (15)VY Baron Growth Portfolio - Initial Class: The adviser is contractually obligated to limit expenses to 1.09% through May 1, The obligation will automatically renew for one-year terms unless: (i) the adviser provides 90 days written notice of its termination and such termination is approved by the Portfolio's board; or (ii) the management agreement has been terminated. The obligation is subject to possible recoupment by the adviser within 36 months of the waiver or reimbursement. The obligation does not extend to interest, taxes, brokerage commissions, extraordinary expenses, and Acquired Fees and Expenses. (16)Invesco American Value - Class Y: Invesco Advisers, Inc. (Invesco or the Adviser) has contractually agreed to waive a portion of the 's management fee in an amount equal to the net management fee that Invesco earns on the 's investments in certain affiliated funds. This waiver will have the effect of reducing the Acquired Fees and Expenses that are indirectly borne by the. Unless Invesco continues the fee waiver agreement, it will terminate on June 30, The fee waiver agreement cannot be terminated during its term. (17)Voya SmallCap Opportunities Portfolio - Class I: The adviser is contractually obligated to limit expenses to 0.92% through May 1, The obligation will automatically renew for one-year terms unless: (i) the adviser provides 90 days written notice of its termination and such termination is approved by the Portfolio's board; or (ii) the management agreement has been terminated. The obligation is subject to possible recoupment by the adviser within 36 months of the waiver or reimbursement. The obligation does not extend to interest, taxes, brokerage commissions, extraordinary expenses, and Acquired Fees and Expenses. (18)Wells Fargo Advantage Precious Metals - Class A: The Adviser has committed through July 31, 2014, to waive fees and/or reimburse expenses to the extent necessary to cap the 's Total Annual Operating Expenses After Fee Waiver at the amounts shown above. Brokerage commissions, stamp duty fees, interest, taxes, acquired fund fees and expenses, and extraordinary expenses are excluded from the cap. After this time, the cap may be increased or the commitment to maintain the cap may be terminated only with the approval of the Board of Trustees. (19)VY Clarion Real Estate Portfolio - Service Class: The adviser is contractually obligated to limit expenses to 1.00% through May 1, 2015; the obligation does not extend to interest, taxes, brokerage commissions, extraordinary expenses, and Acquired Fees and Expenses. The obligation will automatically renew for one-year terms unless: (i) the adviser provides 90 days written notice of its termination and such termination is approved by the Portfolio's board; or (ii) the management agreement has been terminated. The obligation is subject to possible recoupment by the adviser within 36 months of the waiver or reimbursement. In addition, the adviser is contractually obligated to waive a portion of the management fee through May 1, Based upon net assets as of December 31, 2013, the management fee waiver for the Portfolio would be (0.04)%. There is no guarantee that the management fee waiver will continue after May 1, The management fee waiver will renew if the adviser elects to renew it. (20)MFS International Value - Class R3: Effective August 1, 2014, Massachusetts Financial Services Company has agreed in writing to reduce its management fee to 0.65% of the of the fund's average daily net assets annually in excess of $10 billion to $15 billion, 0.55% of the fund's average daily net assets annually in excess of $15 billion to $20 billion, 0.50% of the fund's average daily net assets annually in excess of $20 billion to $25 billion, and 0.45% of the fund's average daily net assets annually in excess of $25 billion. This written agreement will remain in effect until modified by the fund's Board of Trustees, but such agreement will continue until at least September 30, (21)Oppenheimer International Growth - Class A: The 's transfer agent has contractually agreed to limit its fees to 0.30% of average annual net assets per fiscal year. This fee waiver and/or expense reimbursement may not be amended or withdrawn for one year from the date of this prospectus, unless approved by the Board. Page 5 of 6

6 (22)Oppenheimer International Small Company - Class A: The Manager has contractually agreed to waive fees and/or reimburse expenses in an amount equal to the indirect management fees incurred through the 's investments in funds managed by the Manager or its affiliates. This fee waiver and/or expense reimbursement may not be amended or withdrawn for one year from the date of this prospectus, unless approved by the Board. (23)Voya Global Value Advantage Portfolio - Class S: The adviser is contractually obligated to limit expenses to 1.09% through May 1, The obligation will automatically renew for one-year terms unless: (i) the adviser provides 90 days written notice of its termination and such termination is approved by the Portfolio's board; or (ii) the management agreement has been terminated. The obligation is subject to possible recoupment by the adviser within 36 months of the waiver or reimbursement. In addition, the adviser is contractually obligated to further limit expenses to 0.90% through May 1, The obligation will renew if the adviser elects to renew it and is not eligible for recoupment. These obligations do not extend to interest, taxes, brokerage commissions, Acquired Fees and Expenses and extraordinary expenses. Notwithstanding the foregoing, termination or modification of these obligations requires approval by the Portfolio's board. (24)The T. Rowe Price Value - Advisor Class shares commenced operations on March 31, 2000.Performance shown, prior to this date, is based upon a different Class of shares of the fund, restated based on the Advisor Class fees and expenses. (25)The New Economy - Class R-4 commenced operations on May 15, The fund has identical investment objectives and policies, the same portfolio manager, and invests in the same holdings as Class A of this fund. The performance information for The New Economy - Class R-4 prior to May 15, 2002 is based upon the Class A performance, adjusted by fees associated with Class R-4. (26)EuroPacific Growth - Class R-4 commenced operations on May 15, Class R-4 has identical investment objectives and policies, the same portfolio manager, and invests in the same holdings as Class A. The performance information above prior to May 15, 2002 is based upon the Class A performance adjusted by the fee differences between classes. (27)The New Perspective - Class R-4 commenced operations on May 28, The fund has identical investment objectives and policies, the same portfolio manager, and invests in the same holdings as Class A of this fund. The performance information for the New Perspective - Class R-4 prior to May 28, 2002 is based upon the Class A performance, adjusted by fees associated with Class R-4. (28)The Investment Option is neither a mutual fund nor part of a Separate Account. The returns listed do not include the impact of contract charges. Please refer to the contract or disclosure book to determine which Fixed Interest Options are available for your specific plan. The Investment Option is offered through Voya Retirement Insurance and Annuity Company. Insurance products, annuities and funding agreements issued by Voya Retirement Insurance and Annuity Company One Orange Way Windsor, CT 06095, (VRIAC), which is solely responsible for meeting its obligations. Plan administrative services provided by VRIAC or Voya Institutional Plan Services, LLC. All companies are members of the Voya family of companies. Securities are distributed by or offered through Voya Financial Partners, LLC (member SIPC) or other broker-dealers with which it has a selling agreement. Creation Date: Wednesday, July 22, 2015 Page 6 of 6