INVEST IN YOU. 401(k) SAVINGS AND PROFIT SHARING PLAN GUIDE

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1 INVEST IN YOU 401(k) SAVINGS AND PROFIT SHARING PLAN GUIDE

2 Invest in You Planning for Your Future with the S&P Global 401(k) Savings and Profit Sharing Plan While you are working, you are earning income. But what happens when you retire and are no longer working? Where will your money come from? Your income in retirement will likely come from many sources, including Social Security and personal savings. But will it be enough? Social Security, while one source of retirement income, was never intended to be the only source. Furthermore, many experts say that you will need at least 80% of your pre retirement income to maintain your current lifestyle in retirement. That s why a company-sponsored savings plan, such as the 401(k) Savings and Profit Sharing Plan of S&P Global, Inc. and its Subsidiaries* ( the Plan ) is a great way to help you save for your future. Through a combination of convenient payroll deductions and Company contributions, the Plan can serve as a powerful tool in planning for your financial future. When contributions are deducted from your pay on a pre-tax basis, your taxable income is lowered, allowing you to pay less in taxes each year. And because the money held in a 401(k) plan grows tax deferred, investment earnings on your assets are not taxed as long as they remain inside the Plan. When it comes to planning for your financial future the time is always right. Waiting even just one year can have an impact on your ability to reach your goals. So whether your retirement is five years or 25 years away, you are encouraged to take a moment and read through this Guide. In doing so, you will have taken the first step toward investing in you. *Guild employees can participate in the Standard & Poor s 401(k) Savings and Profit Sharing Plan for Represented Employees.

3 JUMP TO Getting Started How the Plan Works Tools to Help You Investment Options Additional details about the Plan are located on Your Retirement Resources (YRR), accessible through the S&P Global benefits website at This website is your source for Summary Plan Descriptions (SPDs) and other detailed plan information, tools, and answers to frequently asked questions and can help you utilize the range of resources available to make the savings and investment decisions that are right for you. What You Need to Grow When it comes to saving for retirement, a little can go a long way. The Plan offers you: Company matching contributions: S&P Global matches 100% of the first 6% of your eligible pre-tax contributions to the Plan. That means if you contribute 6% of your income to the Plan each pay period, the Company will match that amount, dollar for dollar. Immediate vesting: The contributions you make to the Plan are always 100% vested meaning the money is yours from the day it s deposited in your account. You are also immediately vested in the Plan s Company matching contributions. Tax savings: When your contributions are made pre-tax before any other payroll calculations take place, your taxable income is reduced. This allows you to pay less in taxes each year. In addition, because the money held in a 401(k) plan grows tax-deferred, investment earnings on plan assets are not taxed as long as they remain inside the Plan. An array of investment options: You can choose from a number of funds in which to invest your savings including portfolios of funds specifically designed to help you achieve your savings goals based on your targeted retirement date. Current funds are described in the Fund Fact Sheets available on Your Retirement Resources (YRR). 1

4 A Reality Check Are You on Track? 11 times* final working year s salary The amount financial experts estimate the average employee will need to save to maintain his or her lifestyle into retirement. For example: If these experts are correct, a 65-year-old employee earning a $50,000 salary will need approximately $550,000 saved to retire (11 x $50,000 = $550,000). This amount is in addition to the anticipated benefits that Social Security will provide. The table below shows possible retirement savings targets for various age groups. You may choose to use these targets to determine if your retirement savings are on track to meet the 11 times pay estimate by age 65. Number Times Pay Needed to Save Age 25 Age 30 Age 35 Age 40 Age 45 Age 50 Age 55 Age 60 Age 65 So whether you are on track, off track, or somewhere in between, it s always a good idea to revisit your retirement strategy on a regular basis. This way, you can make adjustments as necessary. *Source: Aon Hewitt, 2012 Retirement Income Adequacy at Large Companies: The Real Deal 2

5 JUMP TO Getting Started How the Plan Works Tools to Help You Investment Options Getting Started Is as Easy as As a new hire, you are immediately eligible to participate in the Plan (except for the discretionary profit sharing contribution component, which requires that you first meet certain age and service requirements). By waiting, you could be leaving money on the table. Step 1: Decide how much to contribute Choosing how much to contribute should be based on your time until retirement, what you plan to do during retirement, and, of course, how much you can afford to save. NEED HELP DECIDING? The Project Your Retirement Income tool will estimate how much you may need to save to reach your financial goals. PROJECT YOUR RETIREMENT INCOME NOW You may choose to direct from 1% to 25% of your eligible pay into the Plan on a pre-tax or after-tax basis, or a combination of both, subject to IRS limits on total contributions that can be made to a plan during a year. For pre-tax contributions, you can contribute from 1% to 25% of your eligible pay (up to the first $265,000, the 2015 IRS annual compensation limit) subject to the 2015 annual maximum of $18,000. After-tax contributions, however, are limited to 3% of your eligible pay if you are a highly compensated employee, as determined by the Internal Revenue Code, and you are not eligible for Company matching contributions. S&P Global will contribute an amount equal to 100% up to the first 6% of eligible pay you contribute each pay period as pre-tax contributions. If you are age 50 or older, you can make additional catch-up contributions (up to $6,000 for 2015) that help you save more. Catch up contributions are not eligible for Company matching contributions. Remember: You can increase or decrease your contribution rate at any time! DON T FORGET ABOUT YOUR BENEFICIARIES! A beneficiary is the person or entity (such as a trust) whom you designate to receive the money in your retirement account in the event of your death. Designating a beneficiary helps to ensure that your retirement benefits will be distributed according to your wishes upon your death. Go to Beneficiaries on Your Retirement Resources (YRR) to learn more and to designate your beneficiaries. 3

6 Step 2: Choose how to invest Choosing the investments that are right for you is an important next step. When developing your strategy (including how much to save and in which funds to invest), you will need to set your financial goals, assess your risk tolerance, know when you plan to retire, and consider your other savings and investments. Be sure to talk with a qualified financial advisor and/or tax specialist about your retirement strategy. Aon Hewitt Financial Advisors, LLC (AFA) through its partnership with Financial Engines AFA, offers two service options for those looking for assistance in managing their retirement savings. They are: ONLINE ADVICE Gives you access to online tools that help you build your retirement plan, fine tune your investment strategy, and get advice about which investments to choose. There is no charge associated with using this service. From Your Retirement Resources (YRR) at select Investment Advice from the Savings and Pension tab. PROFESSIONAL MANAGEMENT Gives you access to licensed professionals who will create and maintain a personalized retirement plan for you, put it into action, and keep it on track (you ll receive quarterly updates). There is a fee for this service of $5.00 a month for each $10,000 in your account, with discounts for balances over $100,000. The fee is paid from your Plan account on a quarterly basis. Visit or speak with an AFA Investment Advisor by calling between 9:00 a.m. and 9:00 p.m. Eastern time. 4

7 JUMP TO Getting Started How the Plan Works Tools to Help You Investment Options Step 3: Contribute You may make an initial election or decide to suspend, subsequently resume, or change the amount of your pre-tax contributions and after-tax contributions at any time. To make an election, visit Your Retirement Resources (YRR) at or call the S&P Global Benefits Center at and ask to speak with a representative. What If You Do Nothing/Take No Action? If you do not enroll in the Plan within 60 days of your date of hire, and unless you affirmatively elect not to participate by selecting a 0% contribution rate, you will be automatically enrolled in the Plan at a 3% pre-tax contribution rate with your contributions being invested in an age-appropriate default Target Retirement Fund (as described on page 12). Company matching contributions, profit sharing contributions, and any rollover amounts from another qualified plan(s) will also be invested in an age appropriate default Target Retirement Fund, unless you choose another investment option. If you are automatically enrolled and do not wish to continue participating in the Plan, you must change the 3% contribution rate to 0%. Alternatively, if you wish to contribute an amount greater than 3% as pre-tax contributions, or wish to make after-tax contributions, you must change the contribution rate to the amount(s) that you want. If you don t take action and remain at the 3% auto-enrolled contribution rate, you will not be taking full advantage of the Company matching contribution of 6%. However, if you are automatically enrolled in the Plan and you take no action, the 3% contribution rate will increase annually by 1% until your contribution rate equals 6% of your eligible pay. Remember: You can change your contribution percentage and/or your investment options at any time. 5

8 How the Plan Works 401(k) CONTRIBUTIONS FROM YOUR PAYCHECK COMPANY MATCHING 401(k) CONTRIBUTIONS COMPANY PROFIT SHARING CONTRIBUTIONS YOUR TOTAL 401(k) SAVINGS AND PROFIT SHARING PLAN ACCOUNT (PLUS ANY INVESTMENT GROWTH) *The Company profit sharing contributions are discretionary and posted to accounts annually. Your Contributions You contribute to the Plan through payroll deductions. For 2015, you can choose to contribute up to 25% of your eligible pay as pre-tax contributions up to the annually-adjusted IRS limit of $18,000. Remember, you can change your contribution percentage amount any time during the year through Your Retirement Resources (YRR). If you elect to change your contribution rate, it becomes effective as soon as administratively practicable, generally within one to two pay periods. HAVE A TAX-QUALIFIED 401(k) SAVINGS ACCOUNT WITH A FORMER EMPLOYER? Consider rolling it over into this Plan. You can also make after-tax contributions each year, but your combined maximum pre-tax and after-tax contributions cannot exceed 25% of your eligible pay. After-tax contributions, however, are limited to 3% of your eligible pay if you are a highly compensated employee, as determined by the Internal Revenue Code ($120,000 for 2015). If you are age 50 or older, you can also make additional catch-up contributions to the Plan. In 2015, the annually-adjusted IRS limit for catch-up contributions is $6,000. Catch up contributions are not eligible for Company matching contributions. 6

9 JUMP TO Getting Started How the Plan Works Tools to Help You Investment Options The Company s Contribution S&P Global will match 100% of the first 6% of your pre-tax contributions. These Company matching contributions may help you to reach your savings goals faster. Here s a look at how quickly the savings add up, depending on the percentage you contribute. The illustration below assumes an annual salary of $85,000: Total Annual Contribution to Your Account $13,600 $10,200 $5,100 Annual Company Matching Contribution Your Annual Pre-Tax Contribution Amount $5,100 $2,550 $2,550 $5,100 $5,100 $8,500 Annual Contribution Rate 3% of Pay 6% of Pay 10% of Pay Understanding Profit Sharing In addition to your 401(k) contributions and Company match, S&P Global may also contribute to your retirement account through discretionary profit sharing contributions. If you are age 21 or older and have one year of service, you are eligible to receive a discretionary profit sharing contribution of up to 2.5% of your eligible pay up to the Social Security Wage Base ($118,500 in 2015, indexed annually). For any amount of your eligible pay above the Social Security Wage Base, but not exceeding the Internal Revenue Service (IRS) annual compensation limit ($265,000 in 2015, indexed periodically), the Company may make an additional contribution of up to 5%. 7

10 The decision to award a profit sharing contribution will take place at the end of the year and is typically posted to your account before the end of the first quarter in the following year. The Company s profit sharing contributions including any associated gains and losses accumulate tax-free until they are withdrawn. While you are always 100% vested in your own contributions and their earnings, there is a vesting schedule for the Company s profit sharing contributions: After 2 years of service 20% vested 3 years of service 40% vested 4 years of service 60% vested 5 years of service 100% vested Accessing Your Money The whole purpose of a retirement savings plan is to accumulate money while you are working so you can have money to use in retirement when you are no longer working. Because it grants special tax advantages to the Plan, the Internal Revenue Code limits how you may withdraw funds. You can only take money out of the Plan under certain circumstances: Withdrawals: To withdraw funds from your Plan account with no additional tax penalty, you generally must be age 59 ½ or older. Federal taxes will apply (except to any after-tax contributions). If you become disabled before reaching age 59 ½ or face an unanticipated financial hardship (e.g., costs related to buying a home or medical expenses), you may have an option to withdraw funds. Any contributions you have made on an after-tax basis or that you have rolled over from another employer can be withdrawn at any time (special limits or other requirements may apply). 8

11 JUMP TO Getting Started How the Plan Works Tools to Help You Investment Options Loans: You may be able to borrow money from your account and pay yourself back with interest. The number of years for repayment will depend on the type of loan you take out. Rollover withdrawal: If you leave the Company, you can take your vested balance with you and keep it growing by rolling it over into an individual retirement account (IRA) or other employer s plan. 24/7 ACCESS TO YOUR ACCOUNT Go to to access Your Retirement Resources (YRR) to change your contribution percentage, manage your investment elections, transfer money between funds, access retirement tools and resources, and more! Or, you can speak with a specialist by calling the S&P Global Benefits Center at , between 9:00 a.m. and 5:00 p.m. Eastern time, Monday through Friday. From outside of the United States, call (this is a toll call). The Importance of Diversification A well-balanced and diversified portfolio is important to long term financial health. Broadly defined, diversification means having a portfolio with a variety of asset classes stocks, bonds, and cash. When you make your investment elections, keep in mind that having a mix of investments spreads out your risk and makes your savings goals less likely to be hurt by the poor performance of just a single investment. ANNUAL FEE DISCLOSURE NOTICE As with other investments, many plan fees and expenses are paid by the investors in this case, plan participants. To learn about these fees, review the Annual Fee Disclosure Statement available on Your Retirement Resources (YRR). LEARN MORE ABOUT ANNUAL FEES 9

12 Tools to Help You Your Retirement Resources (YRR) is your source for retirement savings tools and information HERE S WHAT YOU WILL FIND AND MORE 1. Account Summary. View balance and investment information 2. Project Retirement Income. Determine if you re on track to meet your goals 3. Beneficiaries. Update at any time 4. Investment Advice. Enroll in Online Advice or Professional Management services for personalized guidance in reaching your Plan savings goals 5. Financial Solutions and Education. Access general financial planning resources, including helpful articles and videos 6. Fund Prospectuses. Review the Fund Fact Sheets for investment fund detail information 7. Change Contributions. Choose the right contribution amount for your savings strategy 8. Quicken and Mint Download. Set up and activate online account services to help you with your Plan account 9. Tools and Calculators. Access interactive tools about savings, investing, borrowing, and withdrawing 10

13 JUMP TO Getting Started How the Plan Works Tools to Help You Investment Options A Closer Look at Your Investment Options You are in the driver s seat when it comes to how your Plan savings are invested. The Plan offers various ways for you to invest your retirement savings, and tools to help you, depending on your level of investment experience and how hands-on you want to be in managing your funds. Your contributions are deducted from your pay, deposited into your account, and invested according to your instructions. You can change your contribution rate and move your savings to different investment funds at any time. THE POWER OF COMPOUNDING When it comes to saving for retirement, the sooner the better. This is in large part due to the concept of compounding. Compounding refers to the ability of your earnings to earn interest. This means that not only do you earn interest on your principal, but you can also earn interest on the interest. Your Investment Options The Plan s investment options let you create your own investment mix. It is important to balance the funds risk and return assumptions with the amount of time that your money will be invested between now and retirement. You should review your investment choices and asset allocation regularly and rebalance as appropriate to maintain your asset allocation strategy. Generally, more conservative funds have lower risk of investment loss, and returns are likely to be lower in the long term. More aggressive funds generally have higher risk of investment loss in the short term, but returns are more likely to outpace inflation in the long run. CONSERVATIVE Potentially less investment risk and lower returns AGGRESSIVE Potentially more investment risk and higher returns Stable Value Blended Stock International Company Stock 11

14 Consider Target Retirement Funds Unless you take action to choose different investment options, you will be enrolled automatically (also referred to as defaulted ) in an age-appropriate Target Retirement Fund based on the date you will turn 65 (according to the Plan s records). ARE TARGET FUNDS RIGHT FOR YOU? One size does not fit all when it comes to investing. Among other factors, when you begin saving for retirement and how close you are to retirement need to be considered. Be sure to talk with a qualified financial advisor and/or tax specialist about your retirement strategy. The Target Retirement Funds, managed by SSgA, do not ensure that diversification will result in profit or guarantee against loss, including loss of principal. Target Retirement Funds are built on a basic principle that your retirement investing needs depend on your age and are designed to make it easier to invest for your retirement. As such, investment professionals make the complicated investment decisions like asset allocation and rebalancing for you, choosing and adjusting the mix of stocks, bonds, and alternative (such as commodities and real estate) investments in the Fund over time. How They Work Managed by State Street Global Advisors (SSgA), a division of State Street Bank and Trust Company, Target Retirement Funds seek to provide a mix of growth and income that SSgA believes suits people retiring around a specific year (or target date). The Funds are offered in five-year increments, as indicated in a Fund s name (excluding the Target Retirement Income Fund, which is designed for individuals in retirement). Over time, the mix of investments in each Fund changes according to a predetermined glide path. Each Fund will become more conservative in its investing approach as it nears its target retirement date to help reduce risk and protect the savings that you ve accumulated. Five years after a Fund reaches its target retirement date, the Fund will merge with the Target Retirement Income Fund. 12

15 JUMP TO Getting Started How the Plan Works Tools to Help You Investment Options Target Retirement Funds seek to adjust automatically throughout your career, gradually shifting from a focus on growth potential to security potential as you approach and enter retirement. Of course, as with any investment, even as you approach and enter retirement, there is still investment risk associated with the volatility of the markets. ANOTHER OPTION: THE SELF-DIRECTED INVESTMENT OPTION If you are comfortable researching and selecting your own investments, the Mutual Fund Investment Window Account gives you access to over 400 mutual fund families. In addition, more than 6,400 of the mutual funds are available with waived loads and/or no transaction fees (NTF)*. Within the Self-Directed Investment Option you have access to online research and a team of brokerage representatives to assist you in making your investment decisions. TO OPEN A WINDOW ACCOUNT: 1. Log on to go to Your Retirement Resources (YRR), and under the Savings and Pension tab, click Change Investments; 2. Click on Tools and Information; 3. Click on Open a New Account under Self Directed Brokerage Accounts; 4. Select Enroll Online; 5. Confirm your personal information is correct on the enrollment form; and 6. Agree to the Terms and Conditions of the Plan Participant Agreement and click Submit. Learn more about the Window Account on Your Retirement Resources (YRR) at or call a brokerage representative at between 9:00 a.m. and 7:00 p.m., Eastern time, Monday through Friday. *Other fees and expenses regularly charged by the funds will apply. No Transaction Fee (NTF) Funds redeemed or exchanged within three (3) calendar months of the purchase date or deposit date will incur a $50 transaction fee. Before investing in any mutual fund, please read its prospectus carefully. For a copy of any prospectus, which includes information about risk considerations, fees, and other expenses, visit the Hewitt Financial Services website at You will be charged a $20 maintenance fee for each quarter you maintain a balance in the self-directed brokerage account. The maintenance fee is deducted pro rata across your core investment options. Hewitt Financial Services LLC, Member FINRA, SIPC Hewitt Financial Services LLC is a subsidiary of Hewitt Associates LLC. 13

16 Investment Fund Snapshot The following is a snapshot of the available funds through the Plan, from most conservative to most aggressive. Details about these funds are available in the Fund Fact Sheets which can be found on Your Retirement Resources (YRR). Fund Name/Asset Class Money Market Fund Stable Value Stable Assets Fund Stable Value Strategy The Money Market Fund invests in short-term money market securities and intends to reflect no market volatility. The dollar-weighted average maturity is 60 days or less. Underlying investments include a mix of high quality commercial paper, bankers' acceptances, time deposits, certificates of deposit, and Treasury bills/notes, U.S. agency securities, and other short term debt securities. The Stable Assets Fund invests in various diversified fixed income portfolios whose underlying assets are comprised primarily of high quality bonds. The fixed income portfolio managers include Pacific Investment Management Company (PIMCO), Schroders/STW Fixed Income Management (Schroders/STW), and Goldman Sachs Asset Management (Goldman Sachs). The stable value wrapper contract providers/issuers consist of Prudential, Monumental Life Insurance Company, and Bank of Tokyo-Mitsubishi UFJ. Prudential "wraps" the investment portfolio managed by PIMCO; Monumental Life Insurance Company "wraps" the investment portfolio managed by Schroders/STW; Bank of Tokyo-Mitsubishi UFJ "wraps" the portfolio directly managed by Goldman Sachs. Vanguard Prime Money Market Fund Institutional Shares is the cash investment portfolio, which serves as the liquidity buffer to support the net daily contribution into and withdrawal out of the Fund, as well as, meets the contractual terms of the wrapper agreements. The Vanguard portfolio is not wrapped. In addition to managing one of the investment portfolios, Goldman Sachs also serves as the overall stable value manager of the Stable Assets Fund. As the stable value manager, Goldman Sachs negotiates with various providers to procure stable value wrapper contracts for the investment portfolios at terms and costs that it believes are as favorable to the Fund as can be reasonably obtained. Goldman Sachs manages the allocation of funds to all investment portfolios of the Fund. Each stable value wrapper contract provider guarantees that the invested amount in a portfolio will grow at a contractually determined rate, which is referred to as the crediting (or credited) rate. The valuation of the investments in a wrapped portfolio using the crediting rate is called the book (or contract) value. The annualized crediting rate = portfolio yield-to-worst + [(market value - book value) / (book value x portfolio duration)]. The book value at a given point in time = the book value at the prior period x (1 + prevailing annualized crediting rate) (number of days / 365-1). In the event a net withdrawal on the wrapped portfolio is required to meet participants distribution requirements, participants receive the book value instead of the market value. This guarantee is the feature that maintains the price stability of the Stable Assets Fund, notwithstanding the pricing volatility (i.e. movement up or down) inherent in each underlying investment portfolio that is wrapped. The crediting rate is reset each quarter, based on the prevailing underlying portfolio s yield, market value, book value, and duration. The crediting rate can never be less than 0%. 14

17 JUMP TO Getting Started How the Plan Works Tools to Help You Investment Options Fund Name/Asset Class Strategy Target Retirement Funds Blended Retirement Assets Fund III Blended Retirement Assets Fund II Blended The Target Retirement Funds attempt to provide capital appreciation and current income consistent with their current asset allocation. The Funds seek to provide growth for individuals in the early stages of saving for retirement and to preserve wealth for those who are nearing, or are in, retirement based on an individual s targeted retirement date, in five-year increments, included in the Fund s name (other than the Target Retirement Income Fund designed for individuals in retirement). The age-appropriate Target Retirement Fund is the default investment (known as the Qualified Default Investment Alternative or QDIA) for eligible employees who do not make an investment election within 60 days of their date of hire, and who have contributions defaulted into an investment option on or after July 1, Each Fund seeks to achieve its objective by potentially investing in a mix of stocks, bonds and alternative investments (such as commodities and real estate). Over time, the mix of investments in each Fund changes according to a pre-determined roadmap, known as a glide path. Each Fund will become more conservative as it approaches its target retirement date by moving from a greater concentration of higher-risk investments (such as stocks) to a greater concentration of lower-risk investments (such as bonds) to help reduce risk and to seek to protect the accumulated savings. The Funds reach their most conservative investment mix five years after the targeted retirement date. Each of the Retirement Assets Funds consists of a combination of separate, actively managed portfolios established expressly for S&P Global. Each offers a different allocation to equity and fixed income securities. Retirement Assets Fund III allocates 40% of its assets among equity managers and 60% to fixed income in one bond portfolio. The 40%/60% allocation represents targets for asset dispersal among the individual portfolio managers. The actual allocation among major asset classes (common stocks, bonds and cash equivalents) will vary over time as each individual manager establishes a specific mix among those asset classes. Thus, Retirement Fund III s aggregate asset mix may not actually reach the full 40% in equities and 60% in fixed income at certain points in time. The equity portfolios are diversified by investment style (value or growth), management approach (top-down or bottom-up), market capitalization (large or small companies), and world market (domestic or foreign). The fixed income portfolio is diversified among longer- and shorter-term durations. Each of the Retirement Assets Funds consists of a combination of separate, actively managed portfolios established expressly for S&P Global. Each offers a different allocation to equity and fixed income securities. Retirement Assets Fund II allocates 60% of its assets among equity managers and 40% to fixed income in one bond portfolio. The 60%/40% allocation represents targets for asset dispersal among the individual portfolio managers. The actual allocation among major asset classes (common stocks, bonds and cash equivalents) will vary over time as each individual manager establishes a specific mix among those asset classes. Thus, Retirement Fund II s aggregate asset mix may not actually reach the full 60% in equities and 40% in fixed income at certain points in time. The equity portfolios are diversified by investment style (value or growth), management approach (top-down or bottom-up), and world market (domestic or foreign). The fixed income portfolio is diversified among longer- and shorter-term durations. 15

18 Fund Name/Asset Class Retirement Assets Fund I Blended S&P 500 Index Fund Stock S&P MidCap 400 Index Fund Stock Core Equity Fund Stock Strategy Each of the Retirement Assets Funds consists of a combination of separate, actively managed portfolios established expressly for S&P Global. Each offers a different allocation to equity and fixed income securities. Retirement Assets Fund I allocates 80% of its assets among eight equity managers and 20% to fixed income in one bond portfolio. The 80%/20% allocation represents targets for asset dispersal among the individual portfolio managers. The actual allocation among major asset classes (common stocks, bonds and cash equivalents) will vary over time as each individual manager establishes a specific mix among those asset classes. Thus, Retirement Asset Fund I s aggregate asset mix may not actually reach the full 80% in equities and 20% in fixed income at certain points in time. The equity portfolios are diversified by investment style (value or growth), management approach (top-down or bottom-up), market capitalization (large or small companies), and world market (domestic or foreign). The fixed income portfolio is diversified among longer- and shorter-term durations. The S&P 500 Index Fund is managed by the Northern Trust Company of Chicago as part of its Daily S&P 500 Equity Index Fund. This is an institutional account (i.e., available only to qualified defined benefit pension plans and defined contribution profit sharing and savings plans). The S&P 500 Index Fund is designed to closely track the performance of the unmanaged S&P 500 Composite Index, and the Composite s performance is printed daily in the newspaper. Investors also can keep abreast of the companies which comprise the S&P 500 Index. On its website ( Standard & Poor s publishes the current list of the 500 companies in the Index and any recent changes which may have occurred to it. The S&P MidCap 400 Index Fund is managed by the Northern Trust Company of Chicago as part of its Daily S&P 400 Equity Index Fund. This is an institutional account (i.e., available only to qualified defined benefit pension plans and defined contribution profit sharing and savings plans). The S&P MidCap 400 Index Fund is designed to closely track the performance of the S&P MidCap 400 Composite Index, and the Composite s performance is printed daily in the newspaper. Investors also can keep abreast of the companies which comprise the S&P MidCap 400 Index. On its website ( Standard & Poor s publishes the current list of the 400 companies in the Index and any recent changes which may have occurred to it. The Core Equity Fund allocates assets between two investment managers on a 50%/50% basis. PRIMECAP Management Company employs a value investment style which is complemented by the growth investment philosophy employed by Sands Capital Management. Using a combination of managers results in a diversified portfolio primarily invested in large capitalization companies with exposure to both growth and value characteristics that are anticipated to provide consistent returns over a long-term investment horizon. 16

19 JUMP TO Getting Started How the Plan Works Tools to Help You Investment Options Fund Name/Asset Class Strategy Special Equity Fund Stock International Equity Fund Stock S&P SmallCap 600 Index Fund Stock S&P Global Stock Fund Company Stock The Special Equity Fund invests in three separately managed portfolios expressly established for the S&P Global Retirement and Savings Trusts (i.e., available only to defined benefit and defined contribution retirement plans). The three separate portfolios invest primarily in smaller to mid-size companies rather than the big-blue chip firms typically familiar to investors. Whether focusing on emerging growth companies with a high degree of earnings momentum, or focusing on companies of value that, although temporarily out of favor, have a good chance of returning to historic levels of profitability, the portfolio managers hope to gain an investment premium by investing in less mature companies. The International Equity Fund invests in two separately-managed portfolios (i.e. Thornburg Investment Management, Inc. and Brandes Investment Partners) and a mutual fund (i.e. Artisan International Small Cap). With 50% allocation, Thornburg is a core international equity manager that seeks both growth and value opportunities. However, this investment option also contains a large allocation to emerging markets with a value tilt, managed by Brandes Investment Partners, as well as a significant weight to small capitalization international companies managed by Artisan. The S&P SmallCap 600 Index Fund is a separate account managed by the Northern Trust Company of Chicago for the S&P Global qualified defined benefit plan and defined contribution profit sharing and savings plan. The S&P SmallCap 600 Index Fund is designed to closely track the performance of the S&P SmallCap 600 Composite Index, and the Composite s performance is printed daily in the newspaper. Investors also can keep abreast of the companies which comprise the S&P SmallCap 600 Index. On its website ( Standard & Poor s publishes the current list of the 600 companies in the Index and any recent changes which may have occurred to it. The Fund may purchase futures contracts to immediately invest incoming cash in the market, or sell futures in response to cash outflows, thereby simulating a fully invested position while maintaining a cash balance for liquidity. The S&P Global Stock Fund is comprised entirely of shares of the common stock of S&P Global. Returns are achieved through appreciation in the stock s price and the collection of quarterly dividends. Some cash is held in the portfolio to facilitate withdrawals and transfers. 17

20 To Access Your Retirement Resources (YRR) Note: You cannot use your S&P Global network ID and password to access your account from the Internet. The first time you log on, click on Are you a new user? From the log on page. You will be prompted to enter some personal information to identify yourself and to create your own user ID and password. You will also need to create a password hint, as well as answers to a few security questions to use in the future if you forget your password. You will use the same password to access the S&P Global Benefits Center by phone. FROM THE S&P GLOBAL INTRANET (BUZZ): Under Quick Links, click on SPGLOBAL (U.S.) to access Enter your S&P Global Intranet user ID and password; and Click the link for Your Retirement Resources (YRR). FROM THE INTERNET: Go to and log on; then Click the link for Your Retirement Resources (YRR). FORGET YOUR USER ID OR PASSWORD? For the: Intranet: Call the S&P Global Help Desk at Internet: Go to and click on I Forgot My User ID. Provide basic information, including the last 4 digits of your employee identification number (EIN) and the 2-digit month and 4-digit year of your birth, to verify your identity and access the site, and then reset your password. 18

21 JUMP TO Getting Started How the Plan Works Tools to Help You Investment Options NO INTERNET ACCESS? When you have questions about your account or want to speak with a representative, call the S&P Global Benefits Center at , between 9:00 a.m. and 5:00 p.m. Eastern time, Monday through Friday. From outside the United States, call (this is a toll call). Please keep in mind that your password is your legal signature for all Plan transactions, so be sure to maintain its confidentiality. In the event that you have a reason to believe that someone has gained unauthorized access to your password (or any other plan identifier), contact the S&P Global Benefits Center immediately. YOU CAN PRINT THIS If you re viewing this guide online and want to share it with your family at home, or to simply take a closer review later, hit the printer icon from the drop-down menu at the top of your screen to print it. 19

22 55 WATER STREET NEW YORK, NY This Invest in You Guide is for informational purposes only. It describes in summary form some of S&P Global, Inc. s corporate benefits for employees. This communication does not constitute a guarantee or contract of employment with any employee or former employee. The terms you and your as used in this Guide refer to an employee or former employee of S&P Global, Inc. (or one of its participating affiliates) who meets all the eligibility and participation requirements under the applicable plan or program (collectively, the Plans ). Receipt of the Guide does not guarantee that the recipient is a participant under any Plan and/or otherwise eligible for benefits under any Plan. S&P Global, Inc. reserves the right to make changes or to terminate any benefit plan or plans at any time (including in a manner that impacts employees, former employees, retirees, and/or any of their beneficiaries), without prior notice to or consent from any employee, former employee, or participant. If there is any inconsistency between this document and the official plan documents, the plan documents will take precedence. You may also get more details regarding 2015 benefits from the S&P Global Benefits Center at Copyright 2016 Hewitt Associates LLC