county of san mateo deferred compensation plan...san mateo county 150018 i am utilizing the...

RS2070_FRCVR 714

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Welcome.

Congratulations! By enrolling in the county of San Mateo’s Deferred

Compensation Plan, you are taking an important step in planning for your

future financial security. This “Welcome Kit” is an important tool to help you reach

your financial goals for retirement. Please review the enclosed information

carefully and complete the beneficiary designation form as soon as possible.

Mail the beneficiary form to MassMutual at the address listed on the form

and keep a copy for your records.

When you enrolled on-line through Workday, the County’s online benefits

system, your contribution amounts were invested in a default investment

option selected by your employer: MassMutual’s General Account. To

change your current contr ibution investment options, you may go

on-line at massmutual.com/serve or contact our customer service

center at 1-800-528-9009. You wil l need the PIN that was mailed to you

separately to log into your account and make changes.

This welcome kit describes the basics of the County’s Deferred Compensation

Plan, including the array of available investment choices. It also explains the

additional services and features available to plan participants. Lauren Penko,

The County’s MassMutual Representative, is available to review your

investment options and help you better understand the County’s Deferred

Compensation Plan. To schedule an appointment with Lauren, please contact

her by using the contact information below.

Lauren N Penko

Retirement Education Specialist

[email protected]

888-593-0259

650-207-4415 (cell)

Two easy ways to monitor and manage your account.

1. ONLINE

Log into our website at <<website>>. Here you

can access powerful retirement planning tools and

calculators, and manage your account — anytime,

from virtually anywhere.

You’ll be able to:

• Obtain current account balances

• Change your investment options

• Perform account transactions

<<Access_SPR>>

• Transfer (exchange) balances between investment

options*

• Check current investment prices and performance

<<Access_Statements>>

• View and download your quarterly electronic

statements

If you are having trouble accessing your account for

the first time, please contact your Participant Service

Center at << >> r assistance.

* You are allowed to submit a total of 20 transfer requests each calendar year for your participant account by any permitted means. Once these 20 transfers have been requested, you may submit any additional transfer requests only in writing by U.S. mail. Transfers as a result of dollar-cost averaging (if applicable) do not count toward the 20-transfer limit. Each calendar year, MassMutual resets your transfers to allow 20 new transfers by all

approved methods.

2. BY PHONE

<<Access_Phone>>

RS2070_ACCESS 714

<<QuickLink>>

��toyouraccount

QUICK LINK TIP

Want quick access to your account?1. Go to www.massmutual.com/serve,

www.massmutual.com/retirementaccess.

2. Click Login at the top right of the screen.

[3. Click Retirement Access.

3./4.] Log in to view or manage your account.

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1

Group Number: Social Security Number: Employer:

Employee Name: Last, First, M.I.Name Change? Please provide documentation

Mailing Address:New?

City: State: Zip:

Daytime Phone:

BENEFICIARY INFORMATIONPlease complete the Beneficiary Designation including name, address, phone number, Social Security Number, date of birth, relationship and percentage of death benefit. The percent of benefit must total 100% for all primary beneficiaries named. If naming contingent beneficiary(ies) the total percentage for this designation must equal 100%. Married residents of community property states may want to seek legal advice if naming a non-spouse Primary Beneficiary.Type of Beneficiary: Examples of Designations:One Beneficiary Jane Doe, wife, 100%Two or more Primary Beneficiaries, John Doe, son, 33%

equally among the survivors Carol Smith, daughter, 33% Mark Doe, son 34%

or equally among the survivorsTwo or more Primary Beneficiaries, John Doe, son, 33%

with their share to their children Carol Smith, daughter, 33% Mark Doe, son 34%

per stirpesPrimary and Contingent Beneficiaries Primary: Jane Doe, wife, 100% if living;

Contingent: John Doe, son, 33%Carol Smith, daughter, 33% Mark Doe, son 34%

either equally among the survivors or per stirpes

Participant’s Estate Participant’s EstateTrustee Jane Doe, trustee under trust

agreement* dated...* Date of the execution of the trust agreement or a copy of the trust agreement must be provided.Primary Beneficiary(ies) name, address and phone no. Social Security No. Date of Birth Relationship %

Contingent Beneficiary(ies) name, address and phone no. Social Security No. Date of Birth Relationship %

The execution and the delivery of this form to the offices of MassMutual revokes all prior beneficiary designations that I have made. I understand that this beneficiary designation will not take effect until it has been received in good order by MassMutual.

Employee Signature DateMail this Beneficiary Designation to MassMutual at the address above. Keep a copy for your records.

PRIMARY TOTAL: 100%

CONTINGENT TOTAL: 100%

Beneficiary Designation/ Name & Address Change - 457(b) and 401(a)

HVL-464-4 Rev. 2.15 Please provide a copy of this Beneficiary Designation to your Employer. benedcp.pdf

Mail Address: MassMutual Retirement Services, PO Box 1583, Hartford, CT 06144-1583

MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) (of which Retirement Services is a division) and its affiliated companies and sales representatives.

Fax: 877-526-2531 or 800-678-8645

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_______________________________________ ________________________Employee Signature Date

Social Security NumberGroup Number

A. CONTRIBUTION CHANGE - BEFORE-TAX CONTRIBUTIONS

Mailing Address

State Zip CodeCity

Participant Name (Last, First, MI)

Employer

Home Phone

Department

Name Change?

Work Phone Ext.

San Mateo County

150018

I am utilizing the pre-retirement catch-up provision.

this deferral election is effective. This provision is only available where the plan is sponsored by a governmental employer.)

I am utilizing the plan's age 50+ provision. (You must be age 50 or older by the end of the calendar year in which

Rev. 1.15 Page 1 of 1 ccndcpsm.pdf

New?

Please note that the Age 50+ catch-up provision is not available for any year in which the pre-retirement catch-up provision is utilized.

IF YOU ARE UTILIZING THE PRE-RETIREMENT CATCH-UP PROVISION PLEASE COMPLETE A PRE-RETIREMENT CATCH-UPNOTIFICATION AND SUBMIT IT TO MASSMUTUAL.

By execution of this document, the Employee authorizes that any Before-Tax Contributions or Roth After-Tax Contributions indicated above bemade by reducing the Employee’s salary. This agreement shall continue to be in effect only while employment with the Employer continues or until itis altered in accordance to your plan provisions.

MassMutual Retirement Services (MMRS) is a division of Massachusetts Mutual Life Insurance Company (MassMutual) and its affiliated companies and sales representatives.

50+ Catch-Up/ Pre-Retirement Catch-UpSan Mateo County Contribution Change Form

Frequency* Annual Contribution

X =

*FrequencyMonthly = 12Bi-Weekly = 26Semi-Monthly = 24Weekly = 52Other:X =

Employee $

To:

From:

Frequency* Annual Contribution

X =

X =

*FrequencyMonthly = 12Bi-Weekly = 26Semi-Monthly = 24Weekly = 52Other:

C. EMPLOYEE SIGNATURE

Plan NameSan Mateo County

D. EMPLOYER SIGNATURE

B. ROTH - AFTER-TAX CONTRIBUTIONS

Pony # CTL-135 or fax to 650-363-7888

Please submit this form to the County's Payroll Department:

By execution of this document the Employer agrees that any Before-Tax Contributions indicated above be made by reducing the the Employee’s salary.This agreement shall continue to be in effect only while employment with the Employer continues or until it is altered in accordance to your planprovisions.

_______________________________________ ________________________Employer Signature Date

Employee $

To:

From:

4

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Group Number: Participant Number: Social Security Number:

Employer: Department /Location

Plan:

Participant Name: (Last, First, M.I.)Name Change? Please provide documentation

Mailing Address:New?

City: State: Zip:

Home Phone: Work Phone: Ext:

A. PRE-RETIREMENT CATCH-UP NOTIFICATION

Normal Retirement Age (as defined in the Plan document): _________

Three consecutive year Pre-Retirement Catch-up Period: ___________, ___________, ___________ (ends with calendar year preceding calendar year in which you will attain Normal Retirement Age.)

Total Pre-Retirement Catch-Up Amount: $___________________.

In accordance with the terms of the Plan and my Employer's established policies and procedures, my normal retirement age is as stated above. For the Pre-Retirement Catch-Up Period stated above, I am eligible to defer additional amounts in accordance with and subject to the pre-retirement catch-up rule set forth in the Plan and at Internal Revenue Code Section 457(b)(3). In accordance with this rule, during this period, I am eligible to defer, in total, the lesser of the amount stated above or the limits imposed under Internal Revenue Code Section 457(b)(3). The amount stated above represents the amount of previously underutilized limitations determined under the Plan.

Employee Signature Date

B. EMPLOYER SIGNATUREWe the undersigned understand and agree that the Participant is eligible to make deferrals to the Plan in excess of the standard limit imposed under Internal Revenue Code Section 457(b)(2)(A) up to the limit imposed by Section 457(b)(3) for the Pre- Retirement Catch-Up Period set forth above.

Employer Date

Instructions:1. Submit the completed Notification to MassMutual at the address above.2. Provide a copy to your Employer and complete a salary deferral agreement. 3. Keep a copy for your records.

MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) (of which Retirement Services is a division) and its affiliated companies and sales representatives.

Form HVL-462-4 Rev. 2.15 chupdcp.pdf

Pre-Retirement Catch-up NotificationMail Address:MassMutual Retirement ServicesPO Box 1583Hartford, CT 06144-1583

Overnight Mail Address:MassMutual Retirement Services1 Griffin Road NorthWindsor, CT 06095-1512

810051

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Section C - Type of Request

Section A - Plan Information

Provider-to-Provider Transfer Form.

Questions?

Section B - Participant Information

mportant Information

PLAN-TO-PLAN TRANSFER

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Section D - Rollover/Transfer RequestROLLOVER:

457(b) PLAN-TO-PLAN TRANSFER:

Rollover From:

Transfer From:

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Section F - Current Plan Administrator's Acceptance of Rollover or Transfer

Section H - Important InformationGood Order -

Stale Address

Section G - Payment InformationFor payments made by check,

For payments made by ACH or Wire

Section E - Participant Authorization

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41

51RS2070_GP2 514

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OPTION 1 OPTION 2

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INVESTOR SELF-ASSESSMENT QUESTIONNAIRE

This questionnaire can help you determine your investing comfort zone and what type of investment mix might be best for your goals and objectives. Add up the points for each question and check your score on the following page to help you select your investment mix.

1. Which hypothetical investment option would you choose?

FIRST YEAR RETURN POTENTIAL

First-year gain (max) Chance of first-year loss

8% increase 0% 0

20% 20% 2

25% 33% 4

2. My main objective for my investment portfolio is to:

Avoid losses 0

Keep pace with the stock market 2

Outperform the stock market 4

3. If my $100,000 long-term investment dropped in value to $85,000 after one year and rose to $125,000 after two years, I would be:

Extremely uncomfortable – I would move my money immediately to a lower risk investment to protect my gain 0

Slightly uncomfortable – I would move my money to a lower risk investment to protect my gain 2

Comfortable – I would maintain my investment 4

4. If I could potentially get a higher rate of return by accepting greater volatility in my portfolio, I would:

Accept a lot more volatility 4 Accept slightly more volatility 2 Not accept any more volatility 0

5. Below are five investment models with hypothetical maximum returns and maximum losses over a one-year period. I would feel most comfortable investing in:

Portfolio A 4 Portfolio B 3 Portfolio C 2 Portfolio D 1 Portfolio E 0

6. If my $100,000 long-term investment declined in value during the first year, I would move it to a lower risk investment when it declined in value to:

$95,000 (loss of 5%) 0 $90,000 (loss of 10%) 1 $85,000 (loss of 15%) 2 $80,000 (loss of 20%) 3 I would not move it 4

7. A hypothetical $100,000 investment has the possibility of losing $10,000 in the first year. What is the minimum potential one-year gain you would accept given the possibility of loss for you to be comfortable with this investment?

$10,000 4 $25,000 3 $35,000 2 $45,000 2 I would not risk losing that amount of money 0

�� areyou?

-20%

-10%

0%

10%

20%

30%

40% 42.05%

35.22%

29.25%

22.32%17.00%

-14.39%-11.27%

-8.52%-5.18%

-3.19%

A B C D E

61

8. When attempting to achieve my investment goals:

I don’t want my portfolio to lose any value, even if it will take longer to achieve my investment goals 0

I will tolerate small fluctuations in my portfolio’s value 1

I will tolerate moderate fluctuations in my portfolio’s value 2

I will tolerate large fluctuations in my portfolio’s value 3

I will tolerate extreme fluctuations in my portfolio’s value 4

Tally your results by adding the points from questions 1 through 8.

Your total _____________

RS2070_ QUIZ 614

INVESTOR SELF-ASSESSMENT SCORE

Find your total score in the chart below, along with your retirement timeline, to see what type of investment mix may be best for you. This chart is only a guide. Please determine your own investing comfort zone.

YEARS TO RETIREMENT 0–3 POINTS 4–11 POINTS 12–22 POINTS 23–28 POINTS 29–32 POINTS

0–3 years Conservative Conservative Conservative Conservative Conservative

3–5 years Conservative Moderate Moderate Moderate Moderate Conservative Conservative Conservative Conservative

5–7 years Conservative Moderate Moderate Moderate Moderate Conservative

7–12 years Conservative Moderate Moderate Moderate Moderate Conservative Aggressive Aggressive

12+ years Conservative Moderate Moderate Moderate Aggressive Conservative Aggressive

Investor Self-Assessment Questionnaire is provided by Mesirow Financial Investment Management, Inc. Mesirow Financial Investment Management, Inc. is an SEC-registered investment advisor and is not an affiliate or subsidiary of MassMutual.

The results of this questionnaire are intended to help you identify what your optimal asset allocation model may be. The questionnaire is not intended to provide a complete investment profile or to offer individual advice. Mesirow Financial created these risk-based asset allocation models using the following six asset classes: Large Cap Blend Domestic Equity; Mid Cap Blend Domestic Equity; Small Cap Blend Domestic Equity; Large Cap Blend foreign Equity; Intermediate-Term Domestic Bond; and Cash Equivalent/Principal Focused-Extended Duration.

71

Asset allocation is the strategy of spreading your account contributions over a variety of investment categories and/or individual investments. Here are five examples of risk-based investment mixes that you may use as a guide when selecting your investment options.

Note: The sample portfolios are illustrative only and do not represent actual investment mixes.

AssetClasses

�� :risk-basedinvestmentmodels

Aggressive model Bonds: 10% | Large-cap: 42% | Mid-cap: 12% | Small-cap: 10% | International/Global: 26% For investors who are willing and able to stay the course through short-term volatility and want the potential for high portfolio returns over the long term. They should have a long time horizon and a high tolerance for risk, as frequent short-term losses and extreme volatility are to be expected.

Moderate aggressive model Bonds: 25% | Large-cap: 36% | Mid-cap: 9% | Small-cap: 8% | International/Global: 22% For investors with a longer time horizon. While their portfolio will typically have a higher than average volatility, it may provide for the potential of higher than average returns over the long term. Investors should be willing to accept short-term losses and less stable returns.

Moderate model Money market/Stable value: 6% | Bonds: 34% | Large-cap: 33% | Mid-cap: 6% | Small-cap: 5% | International/Global: 16% For investors who are equally concerned with balancing their level of risk and return. They look to have returns in excess of inflation and increase value over the long term. Should be willing to accept short-term losses and fluctuations in portfolio value.

Moderate conservative model Money market/Stable value: 12% | Bonds: 48% | Large-cap: 24% | Mid-cap: 4% | Small-cap: 2% | International/Global: 10% For investors attempting to avoid a loss of assets in the short term, with a secondary objective of seeking a higher return over the long term to mitigate the effects of inflation. The portfolio may have some relative stability, but in order to combat inflation, some fluctuations in the portfolio should be expected.

Conservative model Money market/Stable value: 20% | Bonds: 60% | Large-cap: 13% | Mid-cap: 2% | International/Global: 5% For investors with short-term investment horizons, who want to minimize the potential for loss of value and who are looking for stability of assets. Portfolio may have steady and more predictable returns than more aggressive portfolios. Investors should be willing to forgo the potential for higher long-term returns for stability.

Take some time today to learn about your plan’s investment options to help you make informed decisions.

Asset Allocation modeling offered by Mesirow Financial Investment Management, Inc. Mesirow Financial Investment Management, Inc. is an SEC-registered investment advisor and is not an affiliate or subsidiary of MassMutual.

The information provided in this presentation by Mesirow Financial Investment Management, Inc. is for informational purposes only and should not be construed as a recommendation to purchase or sell any particular security or investment vehicle(s) offered by Mesirow Financial Investment Management, Inc. (MFIM) or affiliates of MFIM. The information contained herein has been obtained from sources believed to be reliable, but is not necessarily complete and its accuracy cannot be guaranteed. Any opinions expressed are subject to change without notice. Mesirow Financial and its affiliated companies and/or individuals may, from time to time, own, have long or short positions in, or options on, or act as a market maker in, any securities or investment strategies discussed herein and may also perform financial advisory or investment banking services for those companies or in regard to those strategies. Further, Mesirow Financial may receive fees for selling or advising on the purchase or sale of products mentioned herein. Additionally, Mesirow Financial may also receive fees paid by manufacturers or distributors of said products in connection to other professional services provided by the applicable Mesirow Financial affiliate. The sale or advice provided is in no way related to or contingent upon the payment received for these other services. It should not be assumed that any recommendation incorporated herein will be profitable or will equal past performance. Mesirow Financial does not provide legal or tax advice. Model performance information and results do not reflect actual trading and the results may not reflect the impact that material economic and market factors may have had on MFIM’s decision making if MFIM were actually managing clients’ money. Any securities contained or investment strategies used in the model performance results provided herein do not relate or only partially relate to the advisory services currently offered by MFIM. MFIM’s clients may have had results materially different from the results provided. Securities offered through Mesirow Financial Investment Management, Inc., member NYSE, SIPC.

RS2070_ QUIZ 215 81

UndeRstanding YOUR investment OPtiOns.

Your plan offers a variety of investments, whichare made up of different types of securities, asdescribed below.

Money market/Stable value investmentsthese short-term investments are designed to providea steady rate of return, greater investment stability, anda relatively lower level of risk. although the portfolioseeks to preserve the value of your investment at $1.00per share, it is possible to lose money in a stable valueinvestment, and the yield will fluctuate with changes inmarket conditions. Over time, these investments haveprovided lower returns than stock or bond funds.investments in a money market account are not insuredor guaranteed by the Federal deposit insuranceCorporation or any other government agency.

Bondsbonds represent “loans” investors make tocorporations, governments or agencies, and aredesigned to provide stability, income, and someappreciation in value. if held to maturity, bonds offer afixed rate of return and a fixed principal value. bondsgenerally offer a potentially higher return than moneymarket/stable value investments and a lower returnthan stocks. the value of bonds usually fluctuates lessthan stocks. However, corporate bonds, U.s. treasurybills, and government bonds will fluctuate in value,and the return of principal is not guaranteed if soldbefore maturity.

Stocksstocks represent part ownership in a business and aremeant to provide long-term growth by increasing invalue. some stocks also provide dividend income.Historically, stocks have outperformed other types ofinvestments over the long term. However, stocksfluctuate in value more than money market/stablevalue investments or bonds, and when sold may beworth more or less than their original cost. keep inmind that you can’t predict future results based onhow the market performed in the past.

Balanced investmentsbalanced investments consider the risk and returnpotential of each asset class and invest a percentageof assets in both stocks and bonds, along with a smallamount in stable value investments for liquidity.

International stocksinvestments in stocks issued by foreign businessesprovide investors with potential long-term growth ofcapital while helping to diversify their portfolios.Foreign stocks may offer greater returns than U.s.investments but also involve higher risks relating tointerest and currency exchange rates, securitiesregulation, and taxes, as well as unstable economic orpolitical conditions. international stocks fluctuate invalue and may be worth more or less than theiroriginal cost. global investments have assets in bothforeign and U.s. stocks.

large-cap* stocksLarge-cap stocks are shares in large, financiallyestablished “blue chip” companies with a market capof over $10 billion. the goal of these investments isthe long-term growth of capital. Risk and return aretypically moderate to high.

Mid-cap* stocksthese shares in companies in the $2 billion to $10billion market cap range seek long-term growth. sincemid-cap stocks may fluctuate more widely than themore stable large-cap stocks, there is a potential forgreater long-term growth as well as higher risk.

Small-cap* stockssmall-cap stocks represent companies with a marketcap of $300 million to $2 billion. Over long periods oftime, small-cap stocks have had higher returns thanlarge-cap stocks, which makes them attractive toaggressive investors. at the same time, they are muchmore volatile and have higher short-term risk.

Specialty stocksspecialty investments are concentrated in a specificarea of the market, such as technology or health care.because they are focused on a small market segment,these investments tend to have both a higher risk andhigher potential for return than more diversifiedinvestments.

all investments possess some element of risk,including possible loss of principal. Past performanceis no guarantee of future results.

*the term “cap” is short for market capitalization, which iscalculated by multiplying the price of a stock by thenumber of outstanding shares. generally speaking, thisrepresents the market’s estimate of a company’s value.

91

Investment options at a glance

How much risk you are comfortable with is an important consideration in choosing how you allocate your assets. How do you feel about investment risk – the chance that your investments could lose money? You also need to think about inflation risk – the risk that conservative investments such as short-term investments may not keep pace with inflation. Investing in more than one asset class – or a blend of them – may help you to balance your risk.

Investment Options RISK/RETURN SPECTRUMFor illustrative purposes only; please consult an investment profile or prospectus for detailed risk/return information.

RS2070_RISKRET 814

KSIR REHGIH/NRUTER REHGIH

ytlaicepS 1 AI SLH erachtlaeH droftraH

5R etatsE laeR ocsevnI A seitilitU SFM

labolG/lanoitanretnI 2 5R emocnI dna htworG dlroW paC sdnuF naciremA 5R htworG cificaPoruE sdnuF naciremA

Y stekraM gnipoleveD remiehneppO

pac-llamS 3 paC llamS noraB A eroC paC llamS aibmuloC

Y yrevocsiD paC llamS ocsevnI CVRS lautuM ainavlysnneP ecyoR

A dneL ceS xednI paC llamS llessuR AgSS

pac-diM 4 VNI eulaV paC diM nasitrA A dnuF htworG paC-diM nosinneJ laitnedurP

A seireS dneL-noN xednI paCdiM P&S AgSS

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5R aciremA fo dnuF htworG ehT sdnuF naciremA A htworG nilknarF

AI SLH noitaicerppA latipaC droftraH AI SLH htworG dna dnediviD droftraH

VNI ytiuqE eroC sussanraP A dneL ceS xednI 005 P&S AgSS

VNI xednI tekraM kcotS latoT draugnaV

*decnalaB/noitacolla tessA evisserggA :noitacollA cigetartS yrutneC naciremA NI etaredoM :noitacollA cigetartS yrutneC naciremA evitavresnoC:noitacollA cigetartS yrutneC naciremA

I emocnI dna ytiuqE kramkaO otsevnI 5102 tnemeriteR tegraT draugnaV otsevnI 5202 tnemeriteR tegraT draugnaV otsevnI 5302 tnemeriteR tegraT draugnaV otsevnI 5402 tnemeriteR tegraT draugnaV

otsevnI emocnI tnemeriteR tegraT draugnaV

02

KSIR REWOL/NRUTER REWOL

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A nruteR laeR OCMIP nimdA nruteR latoT OCMIP

eulav elbatS/tekram yenoM 6 I noitpO tisopeD derusnI tseW eht fo knaB tnuoccA )etaR deralceD( lareneG

1 .sdnuf ytiuqe deifisrevid lanoitidart naht ksir retaerg ot tcejbus era dna ,rotces ro yrtsudni cificeps a ni detartnecnoc era stnemtsevni s’dnuf ehT

2 tnemtsevni ,seicnerruc ngierof htiw detaicossa sksir lanoitidda dna tnereffid evlovni yam seitiruces rallod-non dna sreussi ngierof ni gnitsevnI .noitairporpxe ro ,raw ,ytilibatsni laicos ro lacitilop ,sexat ,snoissimmoc ,noitaluger seitiruces ,gnitnuocca ,erusolcsid

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Ve

AllianceBernstein Discovery Growth Investment Option

_Risk/Return Spectrum

Stable Value/Money Market Bond Asset Allocation/

BalancedLarge Cap Mid Cap Small Cap International/

Global Specialty

Mid-cap investing generally have higher risk and return characteristics than large-company stocks.

_Volatility Prof le i

The volatility profile is a measure of the level of risk of the underlying fund and is based on a ranking of the three year standard deviation of the fund’s performance. The ranking is compared against other funds within the same broad category group. The higher the volatility, the higher the variation in returns.

_Strategy

_Portfolio Statistics As of 12/31/2012

Inception Date: 7/7/1938 Net Assets ($ in millions): $1 026 92

Investment Advisor: AllianceBernstein LP Portfolio Manager: Team Managed

This investment option is available to your plan through a group variable contract offered to fund retirement programs. Your plan invests in the separate account which invests directly in the mutual fund.

The investment seeks long-term growth of capital. The fund invests primarily in a diversified portfolio of equity securities with relatively smaller capitalizations as compared to the overall U.S. market. It normally invests at least 80% of its net assets in the equity securities of small- and mid-capitalization companies. The fund may invest in foreign securities. It invests up to 20% of total assets in rights and warrants. The fund invests in approximately 60-120 stocks broadly diversified by sector.

Large

Mid

Small

Value Blend Growth

VRU Code: 763

Morningstar Category Mid-Cap Growth

Morningstar Style Box

As of 12/31/2012

Asset Allocation % Assets

Stock .........................................................94.70 Foreign Stock ..............................................3.68 Bond ........................................................... 0.00 Foreign Bond ...............................................0.00 Preferred ..................................................... 0.00 Convertible ..................................................0.00 Cash ............................................................1.45 Other ........................................................... 0.17 Total 100.00% Largest Holdings % Assets

Cadence Design Systems, Inc. ....................1.93 Ulta Salon Cosmetics & Fragrances, Inc. ....1.89 Panera Bread Company, Inc. Class A ..........1.81 CoStar Group, Inc. ...................................... 1.79 U it d R t l I 1 76

Publication Date 1Q 2013

Sample Investment Option

RS1928 413

Ve

American Century Strategic Allocation: Aggressive Investment Option

Processing and publication dates vary by fund company resulting in potential variations in “as of” dates. Information contained herein is subject to change at any time, and may vary based on underlying fund and/or share class considerations (if applicable). Certain sections, if shown, may not add up to 100% due to rounding. Morningstar Category: identifies funds based on investment styles as measured by their underlying portfolio holdings/statistics over 3 years. Investment options can move into other categories, or Morningstar may change their classification methodology. © 2015 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. © 2015 Massachusetts Mutual Life Insurance Company, Springfield, MA 01111-0001. All rights reserved. www.massmutual.com. MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) [of which Retirement Services is a division] and its affiliated companies and sales representatives. RS-37175-00.




GlobalSpecialty



_Strategy


Inception Date: 10/2/1996 Net Assets ($ in millions): $1,113.91 Number of Bond Holdings: 1120 Number of Stock Holdings: 878

Investment Advisor: American Century Inv Mgt, Inc. Portfolio Manager: Jeffrey R. Tyler

Irina Torelli


The investment seeks the highest level of total return consistent with its asset mix. The fund's asset allocation strategy diversifies investments among equity securities, bonds and money market instruments. It usually invests 79% of its assets in equities, 20% of its assets in bonds, and 1% of its assets in cash equivalents. The fund also invests in a variety of debt securities payable in U.S. and foreign currencies. It may invest in any type of U.S. or foreign equity security that meets certain fundamental and technical standards. The fund may invest up to 10% of its assets in below investment-grade securities.

VRU Code: 476

Morningstar Category Aggressive Allocation

As of 3/31/2015


Stock .........................................................58.33 Foreign Stock ............................................20.73 Bond ......................................................... 17.68 Foreign Bond ...............................................1.33 Preferred ..................................................... 0.03 Convertible ..................................................0.01 Cash ............................................................1.31 Other ........................................................... 0.59 Total 100.01% Largest Holdings % Assets

Apple Inc .....................................................1.49 US Treasury Note 1% ................................. 0.91 Us 2yr Note (Cbt) Jun15 Xcbt 20150630 ... 0.90 Electronic Arts Inc .......................................0.88 Oracle Corporation ......................................0.72 Visa Inc Class A .......................................... 0.70 SBA Communications Corp .........................0.69 Comcast Corp Class A ................................ 0.62 Johnson & Johnson ....................................0.61 Exxon Mobil Corporation ............................ 0.60 Total 8.12% Diversification % Assets

Basic Materials ............................................3.56 Consumer Cyclical .................................... 15.22 Financial Services ..................................... 13.23 Real Estate .................................................. 2.22 Consumer Defensive ................................... 9.38 Healthcare ................................................. 13.93 Utilities ........................................................1.09 Communication Services ............................ 3.23 Energy .........................................................4.82 Industrials ................................................. 13.95 Technology ................................................19.37 Total 100.00%


Ve

American Century Strategic Allocation: Moderate Investment Option





GlobalSpecialty



_Strategy




Irina Torelli



VRU Code: 475

Morningstar Category Moderate Allocation

As of 3/31/2015



US Treasury Note 1% ................................. 1.73 Apple Inc .....................................................1.13 Us 2yr Note (Cbt) Jun15 Xcbt 20150630 ... 0.94 US Treasury TIP 2.5% ................................ 0.92 US Treasury TIP ..........................................0.70 Johnson & Johnson ....................................0.68 Oracle Corporation ......................................0.64 US Treasury Note 1.5% .............................. 0.63 Electronic Arts Inc .......................................0.57 JPMorgan Chase & Co ................................0.52 Total 8.46% Diversification % Assets



Ve

American Century Strategic Allocation:Conservative Investment Option





GlobalSpecialty



_Strategy


Inception Date: 10/2/1996 Net Assets ($ in millions): $598.97 Number of Bond Holdings: 654 Number of Stock Holdings: 800


Irina Torelli



VRU Code: 474

Morningstar Category Conservative Allocation

As of 3/31/2015


Stock .........................................................37.66 Foreign Stock ..............................................7.25 Bond ......................................................... 39.74 Foreign Bond ...............................................4.91 Preferred ..................................................... 0.00 Convertible ..................................................0.00 Cash ............................................................5.82 Other ........................................................... 4.63 Total 100.01% Largest Holdings % Assets

US Treasury Note 1% ................................. 2.48 US Treasury TIP 2.5% ................................ 1.37 US Treasury Note 1.625% .......................... 1.08 US Treasury Note 1.25% ............................ 0.88 Us 2yr Note (Cbt) Jun15 Xcbt 20150630 ... 0.87 US Treasury TIP ..........................................0.85 US Treasury Bond 4.375% ..........................0.76 US Treasury TIP 1.125% ............................ 0.72 Apple Inc .....................................................0.71 US Treasury Note 1.375% .......................... 0.66 Total 10.38% Diversification % Assets



Ve

American Funds American Mutual Investment Option





GlobalSpecialty



_Strategy



Investment Advisor: Capital Research and Management Company

Portfolio Manager: Team Managed


The investment seeks current income, growth of capital and conservation of principal. The fund invests primarily in common stocks of companies that are likely to participate in the growth of the American economy and whose dividends appear to be sustainable. It invests primarily in securities of issuers domiciled in the United States and Canada. The fund may also invest in bonds and other debt securities, including those issued by the U.S. government and by federal agencies and instrumentalities.

Large

Mid

Small

Value Blend Growth

VRU Code: 338

Morningstar Category Large Value


As of 6/30/2015



Verizon Communications Inc ...................... 4.14 AbbVie Inc ...................................................3.46 Amgen Inc ...................................................3.46 Texas Instruments Inc .................................2.73 Microsoft Corp ............................................2.04 Home Depot Inc ..........................................1.76 Procter & Gamble Co ..................................1.70 General Electric Co ......................................1.46 Medtronic PLC ............................................ 1.40 Lockheed Martin Corp .................................1.35 Total 23.50% Diversification % Assets

Basic Materials ............................................5.33 Consumer Cyclical ...................................... 6.90 Financial Services ..................................... 11.66 Real Estate .................................................. 0.30 Consumer Defensive ................................... 7.33 Healthcare ................................................. 17.66 Utilities ........................................................5.88 Communication Services ............................ 7.32 Energy .........................................................8.02 Industrials ................................................. 17.94 Technology ................................................11.66 Total 100.00%


Ve

American Funds Capital World Growth and Income Investment Option





GlobalSpecialty

Investing in foreign issuers and non-dollar securities may involve different and additional risks associated with foreign currencies, investment disclosure, accounting, securities regulation, commissions, taxes, political or social instability, war or expropriation.



_Strategy






The investment seeks long-term growth of capital while providing current income. The fund invests primarily in common stocks of well-established companies located around the world, many of which have the potential to pay dividends. It invests, on a global basis, in common stocks that are denominated in U.S. dollars or other currencies. Under normal market circumstances, the fund invests a significant portion of its assets in securities of issuers domiciled outside the United States. The fund may also invest in issuers in developing countries.

VRU Code: 489

Morningstar Category World Stock

As of 6/30/2015


Stock .........................................................40.47 Foreign Stock ............................................51.89 Bond ........................................................... 0.30 Foreign Bond ...............................................0.59 Preferred ..................................................... 0.02 Convertible ..................................................0.00 Cash ............................................................3.09 Other ........................................................... 3.64 Total 100.00% Largest Holdings % Assets

Amgen Inc ...................................................3.89 Novartis AG .................................................2.97 Gilead Sciences Inc .....................................2.56 Verizon Communications Inc ...................... 1.78 Philip Morris International Inc .................... 1.55 BP PLC ........................................................1.51 Bayer AG ..................................................... 1.49 UBS Group AG ............................................ 1.48 Altria Group Inc ...........................................1.38 Prudential PLC ............................................ 1.34 Total 19.95% Diversification % Assets

United States .............................................40.77 United Kingdom ........................................ 12.76 Switzerland ................................................. 6.23 Germany ..................................................... 4.37 Japan .......................................................... 4.04 France ......................................................... 3.13 Hong Kong ..................................................2.89 China ...........................................................2.69 Taiwan .........................................................1.76 Thailand ...................................................... 1.54 Total 80.18%


Ve

American Funds EuroPacific Growth Investment Option





GlobalSpecialty

Investments made outside the United States involve special risks, such as currency fluctuations, political instability, differing securities regulations and periods of illiquidity.



_Strategy






The investment seeks long-term growth of capital. The fund invests primarily in common stocks of issuers in Europe and the Pacific Basin that the investment adviser believes have the potential for growth. Growth stocks are stocks that the investment adviser believes have the potential for above-average capital appreciation. It normally invests at least 80% of its net assets in securities of issuers in Europe and the Pacific Basin. The fund may invest a portion of its assets in common stocks and other securities of companies in emerging markets.

VRU Code: 143

Morningstar Category Foreign Large Growth

As of 6/30/2015


Stock ...........................................................0.22 Foreign Stock ............................................88.07 Bond ........................................................... 0.67 Foreign Bond ...............................................0.21 Preferred ..................................................... 0.00 Convertible ..................................................0.00 Cash ............................................................7.42 Other ........................................................... 3.42 Total 100.01% Largest Holdings % Assets

Novo Nordisk A/S B .................................... 4.37 SoftBank Group Corp ..................................2.49 Novartis AG .................................................2.36 Bayer AG ..................................................... 2.23 Barclays PLC ...............................................2.05 Prudential PLC ............................................ 1.78 Murata Mfg Co Ltd ......................................1.71 Altice SA ..................................................... 1.61 Nintendo Co Ltd ..........................................1.56 HDFC Bank Ltd ............................................1.54 Total 21.70% Diversification % Assets

United Kingdom ........................................ 14.06 Japan ........................................................ 13.72 France ......................................................... 8.87 India ............................................................6.70 China ...........................................................6.01 Germany ..................................................... 5.51 Switzerland ................................................. 5.36 Denmark ..................................................... 4.79 Hong Kong ..................................................4.39 Canada ........................................................ 2.71 Total 72.12%


Ve

American Funds Fundamental Investors Investment Option





GlobalSpecialty




_Strategy






The investment seeks long-term growth of capital and income. The fund invests primarily in common stocks of companies that appear to offer superior opportunities for capital growth and most of which have a history of paying dividends. It may invest significantly in securities of issuers domiciled outside the United States.

Large

Mid

Small

Value Blend Growth

VRU Code: 147

Morningstar Category Large Blend


As of 6/30/2015



Microsoft Corp ............................................3.75 Amazon.com Inc ......................................... 3.25 Philip Morris International Inc .................... 3.06 Comcast Corp Class A ................................ 2.98 Wells Fargo & Co ........................................ 2.25 Home Depot Inc ..........................................2.08 JPMorgan Chase & Co ................................1.80 Boeing Co ................................................... 1.76 General Electric Co ......................................1.73 Avago Technologies Ltd .............................. 1.62 Total 24.28% Diversification % Assets



Ve

American Funds The Growth Fund of America Investment Option





GlobalSpecialty




_Strategy






The investment seeks growth of capital. The fund invests primarily in common stocks and seeks to invest in companies that appear to offer superior opportunities for growth of capital. It may invest a portion of its assets in securities of issuers domiciled outside the United States. The investment adviser uses a system of multiple portfolio counselors in managing the fund's assets. Under this approach, the portfolio of the fund is divided into segments managed by individual counselors who decide how their respective segments will be invested.

Large

Mid

Small

Value Blend Growth

VRU Code: 100

Morningstar Category Large Growth


As of 6/30/2015



Amazon.com Inc ......................................... 5.10 Gilead Sciences Inc .....................................2.88 UnitedHealth Group Inc ...............................2.08 Home Depot Inc ..........................................1.95 Avago Technologies Ltd .............................. 1.88 Amgen Inc ...................................................1.68 Google Inc Class C Capital Stock ................1.66 Comcast Corp Class A ................................ 1.51 Google Inc Class A ......................................1.42 Alexion Pharmaceuticals Inc ....................... 1.38 Total 21.54% Diversification % Assets

Basic Materials ............................................2.58 Consumer Cyclical .................................... 16.80 Financial Services ....................................... 9.33 Real Estate .................................................. 0.28 Consumer Defensive ................................... 5.18 Healthcare ................................................. 21.36 Utilities ........................................................0.13 Communication Services ............................ 5.06 Energy .........................................................7.39 Industrials ................................................... 8.98 Technology ................................................22.91 Total 100.00%


Ve

Artisan Mid Cap Value Investment Option





GlobalSpecialty




_Strategy


Inception Date: 3/28/2001 Net Assets ($ in millions): $8,327.50 Number of Stock Holdings: 60

Investment Advisor: Artisan Partners Limited Partnership

Portfolio Manager: Scott C. Satterwhite James C. Kieffer


The investment seeks maximum long-term capital growth. The fund normally invests no less than 80% of its net assets plus any borrowings for investment purposes at market value at the time of purchase in the common stocks of medium-sized companies. It defines a medium-sized company as one with a market capitalization greater than the market capitalization of the smallest company in the Russell Midcap® Index and less than three times the weighted average market capitalization of companies in that Index.

Large

Mid

Small

Value Blend Growth

VRU Code: 658

Morningstar Category Mid-Cap Value


As of 6/30/2015



Avnet Inc .....................................................2.83 Alleghany Corp ............................................2.80 Arrow Electronics Inc ..................................2.64 Kroger Co ....................................................2.41 Celanese Corp ............................................. 2.33 Allstate Corp ............................................... 2.33 Arch Capital Group Ltd ................................2.29 Aon PLC ......................................................2.19 FLIR Systems Inc ........................................2.18 Torchmark Corp .......................................... 2.10 Total 24.10% Diversification % Assets

Basic Materials ............................................7.52 Consumer Cyclical .................................... 17.32 Financial Services ..................................... 21.27 Real Estate .................................................. 1.77 Consumer Defensive ................................... 2.64 Healthcare ................................................... 2.16 Utilities ........................................................5.30 Communication Services ............................ 0.00 Energy .........................................................7.80 Industrials ................................................. 16.06 Technology ................................................18.16 Total 100.00%


Ve

Bank of the West Insured Deposit Option Investment Option

Processing and publication dates vary by fund company resulting in potential variations in “as of” dates. Information contained herein is subject to change at any time, and may vary based on underlying fund and/or share class considerations (if applicable). Certain sections, if shown, may not add up to 100% due to rounding. © 2015 Massachusetts Mutual Life Insurance Company, Springfield, MA 01111-0001. All rights reserved. www.massmutual.com. MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) [of which Retirement Services is a division] and its affiliated companies and sales representatives. RS-37175-00.




GlobalSpecialty

FDIC Insurance Please note that FDIC insurance protects the owners of deposits in insured instituations in an amount of up to $250,000 per customer per institution. Deposits made in connection with the Bank of the West Option will be part of a "separate account" under Connecticut law, and therefore the deposits will be owned by Hartford Life. The deposits will not be owned by the plan or the plan participants. Accordingly, the directly insured party under the deposit insurance will be Hartford Life and any benefit derived by the participant from Hartford Life's status as an insured depositor will be indirect. Under relevan FDIC authorities, Hartford Life will be entitled to insurance coverage on these deposits in a maximum amount of $250,000 per participant. Such FDIC deposit insurance applies to the deposits only and does not apply to any of the insurance or annuity components of the participant's account which are provided solely by Hartford Life.

VRU Code: 125

Objective The Bank of the West is an investment choice available through the group variable annuity or funding agreement product and may be appropriate for investors seeking to maintain stability of principal. Amounts allocated to this option are held in a separate account and the assets of the separate account are placed in deposit accounts, including certificate of deposit, with Bank of the West, an FDIC-insured depository institution. Investment Return The earnings credited to participant accounts will be based on the interest earned by Hartford Life on variable rate deposits at Bank of the West (reduced by account charges and other contract fees).


Ve

Baron Small Cap Investment Option



Stable Value/Money Market Bonds Asset Allocation


GlobalSpecialty

Small-cap stocks tend to be more volatile, less liquid, and generally have higher risk and return characteristics than large-company stocks.



_Strategy



Investment Advisor: BAMCO Inc Portfolio Manager: Clifford Greenberg


The investment seeks capital appreciation through investments primarily in securities of small-sized growth companies. The fund invests 80% of its net assets in equity securities in the form of common stock of small-sized growth companies. BAMCO, Inc. ("BAMCO" or the "Adviser") defines small-sized companies as those, at the time of purchase, with market capitalizations up to the largest market cap stock in the Russell 2000 Growth Index at reconstitution, or companies with market capitalizations up to $2.5 billion, whichever is larger.

Large

Mid

Small

Value Blend Growth

VRU Code: 479

Morningstar Category Small Growth


As of 6/30/2015



TransDigm Group Inc ..................................3.69 SBA Communications Corp .........................3.35 Gartner Inc Class A ..................................... 3.22 Acuity Brands Inc ........................................2.79 Berry Plastics Group Inc ............................. 2.74 Bright Horizons Family Solutions Inc ..........2.55 Brookdale Senior Living Inc ........................2.28 Waste Connections Inc ............................... 2.21 Fleetcor Technologies, Inc. ..........................2.20 Ultimate Software Group Inc .......................2.16 Total 27.19% Diversification % Assets

Basic Materials ............................................3.59 Consumer Cyclical .................................... 17.41 Financial Services ....................................... 4.32 Real Estate .................................................. 4.64 Consumer Defensive ................................... 4.66 Healthcare ................................................. 15.86 Utilities ........................................................0.98 Communication Services ............................ 3.85 Energy .........................................................6.24 Industrials ................................................. 19.58 Technology ................................................18.89 Total 100.02%


Ve

Columbia Small Cap Core Investment Option





GlobalSpecialty

Small company investing involves specific risks not necessarily encountered in large company investing, such as increased volatitlity.



_Strategy


Inception Date: 11/2/1998 Net Assets ($ in millions): $596.89 Number of Stock Holdings: 158

Investment Advisor: Columbia Mangmt Investment Advisers, LLC



The investment seeks long-term capital appreciation. Under normal market conditions, the fund invests at least 80% of its net assets (including the amount of any borrowings for investment purposes) in stocks of companies that have market capitalizations, at the time of purchase, in the range of companies in the Russell 2000 Index (the index). It generally invests in common stocks of companies believed to be undervalued. The fund may from time to time emphasize one or more economic sectors in selecting its investments, including the industrials sector and the information technology sector. It may invest up to 20% of its total assets in foreign securities.

Large

Mid

Small

Value Blend Growth

VRU Code: 622

Morningstar Category Small Blend


As of 6/30/2015


Stock .........................................................87.92 Foreign Stock ..............................................1.35 Bond ........................................................... 0.00 Foreign Bond ...............................................0.00 Preferred ..................................................... 0.00 Convertible ..................................................0.00 Cash ..........................................................10.72 Other ........................................................... 0.01 Total 100.00% Largest Holdings % Assets

Vanguard Russell 2000 ETF ........................ 3.48 iShares Russell 2000 .................................. 3.04 Providence Service Corp .............................1.58 Belden Inc ................................................... 1.30 Staar Surgical ............................................. 1.25 Sensient Technologies Corp ........................1.24 Financial Institutions Inc ............................. 1.12 DST Systems, Inc. ...................................... 1.10 John Wiley & Sons Inc Class A .................. 1.09 LSI Industries Inc ....................................... 1.09 Total 16.29% Diversification % Assets



Ve

Franklin Growth Investment Option





GlobalSpecialty



_Strategy



Investment Advisor: Franklin Advisers, Inc. Portfolio Manager: Conrad B. Herrmann

V. Jerry Palmieri


The investment seeks capital appreciation. The fund invests substantially in the equity securities of companies that are leaders in their industries. Although it normally invests substantially in the equity securities (principally common stocks) of U.S.-based large and medium market capitalization companies, the fund may invest in companies in new and emerging industries where growth is expected to be above average and may invest up to 40% of its assets in smaller companies. It may have significant positions in particular sectors.

Large

Mid

Small

Value Blend Growth

VRU Code: 513

Morningstar Category Large Growth


As of 6/30/2015


Stock .........................................................84.70 Foreign Stock ..............................................4.47 Bond ........................................................... 0.00 Foreign Bond ...............................................0.00 Preferred ..................................................... 0.00 Convertible ..................................................0.00 Cash ..........................................................10.83 Other ........................................................... 0.00 Total 100.00% Largest Holdings % Assets

Apple Inc .....................................................4.27 Alaska Air Group Inc ................................... 1.75 Biogen Inc ...................................................1.71 Walt Disney Co ............................................1.63 Northrop Grumman Corp ............................1.48 Amgen Inc ...................................................1.30 Boeing Co ................................................... 1.29 Amazon.com Inc ......................................... 1.29 Mettler-Toledo International Inc .................. 1.23 General Dynamics Corp .............................. 1.20 Total 17.15% Diversification % Assets

Basic Materials ............................................6.39 Consumer Cyclical ...................................... 9.23 Financial Services ....................................... 4.94 Real Estate .................................................. 0.63 Consumer Defensive ................................... 4.23 Healthcare ................................................. 23.69 Utilities ........................................................0.56 Communication Services ............................ 0.00 Energy .........................................................2.69 Industrials ................................................. 27.82 Technology ................................................19.82 Total 100.00%


Ve

General Account Investment Option





GlobalSpecialty

Hartford Life Insurance Company (also referred to as “Hartford”) offers competitive credited rates on current contributions, as well as on contributions made in prior years. The General Account is not a mutual fund. It is an investment choice available through a group variable contract. The General Account investment choice is part of Hartford’s general account that includes other company assets. General Account rates are guaranteed by the claims-paying ability of Hartford Life Insurance Company. Hartford credits interest on contributions made to the General Account at a rate declared for the calendar quarter in which they are received. Hartford guarantees the declared interest rate applicable to any quarter to the end of the year in which the rate was applied. Hartford may change the declared interest rate applicable to contributions made for any subsequent quarter at its discretion. For each subsequent calendar year, Hartford Life Insurance Company will credit assets in the General Account at a rate guaranteed for the entire calendar year (the “Guaranteed Interest Rate”). The Guaranteed Interest Rate for a calendar year will be determined at the end of the preceding calendar year and will never be less than the minimum interest rate specified in the contract. Hartford may, from time to time, credit interest rates in excess of the Guaranteed Interest Rate. Contract guarantees, including any credited rate of interest or annuity payout rates, are backed by the claims-paying ability of the issuing company, Hartford Life Insurance Company.

VRU Code: 024

The objective of this investment option is to maintain a competitive fixed interest rate and a minimum guaranteed rate of return. The general account of Hartford Life Insurance Company is guaranteed by the Hartford’s claims paying ability. Hartford’s General Account is primarily invested in investment grade fixed income securities. Contract values held in the General Account will be accounted for on a non-unitized basis. If the Plan offers a money market fund or other competing fund, direct transfers between competing funds are not permitted and amounts transferred to a non-competing fund must remain in the non-competing fund for at least three months.


Ve

Hartford Capital Appreciation HLS Investment Option





GlobalSpecialty

Up to 20% of the Fund may be invested in foreign issuers and non-dollar securities. Investing in foreign issuers and non-dollar securities may involve different and additional risks associated with foreign currencies, investment disclosure, accounting, securities regulation, commissions, taxes, political or social instability, war or expropriation.



_Strategy



Investment Advisor: Hartford Funds Management Company, LLC

Investment Sub Advisor: Wellington Management Company LLP



The investment seeks growth of capital. The fund normally invests at least 65% of its net assets in common stocks of small, medium and large companies. It may also invest up to 35% of its net assets in equity securities of foreign issuers and non-dollar securities, including companies that conduct their principal business activities in emerging markets or whose securities are traded principally on exchanges in emerging markets. The fund may trade securities actively.

Large

Mid

Small

Value Blend Growth

VRU Code: 12



As of 6/30/2015



Bristol-Myers Squibb Company .................. 3.07 Merck & Co Inc ...........................................2.31 Allergan PLC ............................................... 2.16 Apple Inc .....................................................1.85 JPMorgan Chase & Co ................................1.75 Microsoft Corp ............................................1.44 Google Inc Class C Capital Stock ................1.35 American International Group Inc ............... 1.33 Facebook Inc Class A ..................................1.23 Biogen Inc ...................................................1.22 Total 17.71% Diversification % Assets



Ve

Hartford Dividend and Growth HLS Investment Option





GlobalSpecialty

Up to 20% of the Fund may be invested in foreign issuers and non-dollar securities. Investing in foreign issuers and non-dollar securities may involve different and additional risks associated with foreign currencies, investment disclosure, accounting, securities regulation, commissions, taxes, political or social instability, war or expropriation.



_Strategy





Portfolio Manager: Donald Kilbride Matthew Baker


The investment seeks a high level of current income consistent with growth of capital. The fund invests primarily in a portfolio of common stocks. Its portfolio is broadly diversified by company and industry. Under normal market and economic conditions, at least 80% of the fund's net assets are invested in dividend paying equity securities. It tends to focus on securities of larger, well-established companies with market capitalizations similar to those of companies in the S&P 500 Index. The fund may invest up to 20% of its net assets in securities of foreign issuers and non-dollar securities.

Large

Mid

Small

Value Blend Growth

VRU Code: 29

Morningstar Category Large Value


As of 6/30/2015



Wells Fargo & Co ........................................ 4.66 Merck & Co Inc ...........................................3.64 Microsoft Corp ............................................2.91 JPMorgan Chase & Co ................................2.74 Comcast Corp Class A ................................ 2.70 Verizon Communications Inc ...................... 2.50 Chevron Corp ..............................................2.24 CVS Health Corp ......................................... 2.20 Exxon Mobil Corporation ............................ 2.05 Apple Inc .....................................................2.00 Total 27.64% Diversification % Assets

Basic Materials ............................................0.87 Consumer Cyclical ...................................... 4.93 Financial Services ..................................... 22.39 Real Estate .................................................. 0.00 Consumer Defensive ................................... 5.48 Healthcare ................................................. 18.83 Utilities ........................................................3.57 Communication Services ............................ 5.25 Energy .........................................................9.39 Industrials ................................................. 13.69 Technology ................................................15.60 Total 100.00%


Ve

Hartford Healthcare HLS Investment Option





GlobalSpecialty

Investing in foreign issuers and non-dollar securities may involve different and additional risks associated with foreign currencies, investment disclosure, accounting, securities regulation, commissions, taxes, political or social instability, war or expropriation. The Fund's investments are concentrated in a specific industry or sector, and are subject to greater risk than traditional diversified equity funds.



_Strategy







The investment seeks long-term capital appreciation. The fund invests at least 80% of its assets in the equity securities of health care-related companies worldwide as selected by the sub-adviser. It will invest in securities of issuers located in a number of different countries throughout the world, one of which may be the United States; however, it has no limit on the amount of assets that may be invested in each country. The fund may invest in securities of companies of any market capitalization. It will be close to fully invested; cash balances normally will not exceed 10% of net assets.

VRU Code: 101

Morningstar Category Health

As of 6/30/2015



Bristol-Myers Squibb Company .................. 5.81 Gilead Sciences Inc .....................................5.10 Medtronic PLC ............................................ 4.57 Aetna Inc .....................................................3.36 Regeneron Pharmaceuticals Inc ................. 3.11 McKesson Corp ...........................................3.05 HCA Holdings Inc ........................................2.63 Allergan PLC ............................................... 2.52 Abbott Laboratories .................................... 2.30 Alkermes PLC ............................................. 2.29 Total 34.74% Diversification % Assets

Basic Materials ............................................0.00 Consumer Cyclical ...................................... 0.00 Financial Services ....................................... 0.00 Real Estate .................................................. 0.00 Consumer Defensive ................................... 1.14 Healthcare ................................................. 96.35 Utilities ........................................................0.00 Communication Services ............................ 0.00 Energy .........................................................0.00 Industrials ................................................... 0.00 Technology ..................................................2.51 Total 100.00%


Ve

Invesco Real Estate Investment Option





GlobalSpecialty

Investing in a single-sector mutual fund involves greater risk and potential reward than investing in a more diversified fund. The fund invests substantial assets in real estate investment trusts (REITS) that involve risks not associated with investing in stocks. The fund can invest up to 25% of its assets in foreign securities that involve risks not associated with investing solely in the United States.



_Strategy



Investment Advisor: Invesco Advisers, Inc. Investment Sub Advisor: Invesco Asset Management

Ltd. Portfolio Manager: Team Managed


The investment seeks total return through growth of capital and current income. The fund invests, under normal circumstances, at least 80% of its net assets (plus any borrowings for investment purposes) in securities of real estate and real estate-related issuers, and in derivatives and other instruments that have economic characteristics similar to such securities. It may also invest in debt securities, including corporate debt obligations and commercial mortgage-backed securities. The fund may invest up to 10% of its net assets in non-investment grade debt securities (commonly known as "junk bonds") of real estate and real estate-related issuers.

VRU Code: 400

Morningstar Category Real Estate

As of 6/30/2015



Simon Property Group Inc ..........................9.23 AvalonBay Communities Inc ....................... 6.92 American Tower Corp ..................................5.72 Prologis Inc .................................................4.92 Federal Realty Investment Trust ..................4.67 Boston Properties Inc ................................. 4.25 Ventas Inc ................................................... 3.95 Weyerhaeuser Co ........................................ 3.55 Crown Castle International Corp ................. 3.45 Essex Property Trust Inc .............................3.09 Total 49.75% Diversification % Assets

Basic Materials ............................................3.63 Consumer Cyclical ...................................... 2.07 Financial Services ....................................... 0.00 Real Estate ................................................ 88.15 Consumer Defensive ................................... 0.00 Healthcare ................................................... 0.00 Utilities ........................................................0.00 Communication Services ............................ 3.53 Energy .........................................................0.00 Industrials ................................................... 0.00 Technology ..................................................2.61 Total 99.99%


Ve

Invesco Small Cap Discovery Investment Option





GlobalSpecialty




_Strategy



Investment Advisor: Invesco Advisers, Inc. Portfolio Manager: Matthew Hart

Scott Miller


The investment seeks capital appreciation. The fund invests, under normal circumstances, at least 80% of its net assets (plus any borrowings for investment purposes) in securities of small-capitalization companies, and in other instruments that have economic characteristics similar to such securities. It invests primarily in equity securities of small-capitalization companies that the fund's investment adviser believes have above-average potential for capital appreciation. The fund may invest up to 25% of its net assets in securities of foreign issuers.

Large

Mid

Small

Value Blend Growth

VRU Code: 723



As of 6/30/2015



Cavium Inc ..................................................1.64 Team Health Holdings Inc ........................... 1.62 Cadence Design Systems Inc ......................1.55 Brunswick Corp ...........................................1.52 Qorvo Inc .................................................... 1.50 DexCom Inc ................................................ 1.47 Diamondback Energy Inc ............................ 1.43 Pacira Pharmaceuticals Inc .........................1.40 Barracuda Networks, Inc. ............................1.32 Fluidigm Corp ............................................. 1.30 Total 14.75% Diversification % Assets

Basic Materials ............................................3.45 Consumer Cyclical .................................... 18.75 Financial Services ....................................... 6.35 Real Estate .................................................. 3.29 Consumer Defensive ................................... 3.90 Healthcare ................................................. 25.05 Utilities ........................................................0.00 Communication Services ............................ 0.00 Energy .........................................................3.17 Industrials ................................................. 14.64 Technology ................................................21.40 Total 100.00%


Ve

Loomis Sayles Bond Investment Option





GlobalSpecialty

High yield securities are subject to a high degree of market and credit risk. In addition, the secondary market for these securities may lack liquidity which, in turn, may adversely affect the value of these securities and that of the fund. Foreign investments involve special risks including greater economic, political and currency fluctuation risks, which may be even greater in emerging markets. Mutual funds that invest in bonds can lose their value as interest rates rise and an investor can lose principal.



_Strategy


Inception Date: 1/2/1998 Net Assets ($ in millions): $21,674.02 Number of Bond Holdings: 591

Number of Stock Holdings: 20 Investment Advisor: Loomis Sayles & Company L.P. Portfolio Manager: Team Managed


The investment seeks high total investment return through a combination of current income and capital appreciation. Under normal circumstances, the fund will invest at least 80% of its net assets (plus any borrowings made for investment purposes) in fixed-income securities. It will normally invest at least 55% of its net assets in investment-grade fixed-income securities. The fund may also invest up to 35% of its assets in below investment-grade fixed-income securities (commonly known as "junk bonds") and up to 20% of its assets in equity securities, such as common stocks and preferred stocks (with up to 10% of its assets in common stocks).

VRU Code: 743

Morningstar Category Multisector Bond

As of 5/31/2015


Stock ...........................................................6.20 Foreign Stock ..............................................0.67 Bond ......................................................... 42.54 Foreign Bond .............................................22.77 Preferred ..................................................... 2.12 Convertible ..................................................5.55 Cash ..........................................................12.59 Other ........................................................... 7.56 Total 100.00% Largest Holdings % Assets

Canada Govt 1% ......................................... 3.15 Intel Corp .................................................... 2.72 Intel Cv 3.25% ............................................ 2.31 Canada Govt 0.25% .................................... 2.04 Ford Motor Co .............................................1.39 US Treasury Note 0.5% .............................. 1.28 United Mexican States 8% ..........................1.24 United Mexican States 10% ........................1.23 Hca 5.25% .................................................. 1.08 Amer Airls Grp 144A 5.5% ......................... 1.00 Total 17.44%


Ve

MFS Utilities Investment Option





GlobalSpecialty

The Fund's investments are concentrated in a specific industry or sector, and are subject to greater risk than traditional diversified equity funds.



_Strategy



Investment Advisor: Massachusetts Financial Services Co

Portfolio Manager: Maura A. Shaughnessy Robert Persons


The investment seeks total return. The fund normally invests at least 80% of its net assets in securities of issuers in the utilities industry. Issuers in the utilities industry include issuers engaged in the manufacture, production, generation, transmission, sale or distribution of electric, gas or other types of energy, and issuers engaged in telecommunications, including wireless, telephone, and cable (but not engaged in public broadcasting).

VRU Code: 116

Morningstar Category Utilities

As of 6/30/2015



NextEra Energy Inc ..................................... 3.49 Exelon Corp .................................................3.25 PPL Corp .....................................................3.23 Sempra Energy ........................................... 2.77 The AES Corporation ...................................2.59 Public Service Enterprise Group Inc ........... 2.54 NRG Energy Inc .......................................... 2.30 American Electric Power Co Inc ..................2.26 EDP Renovaveis SA .................................... 2.12 Dynegy Inc ..................................................2.09 Total 26.64% Diversification % Assets

Basic Materials ............................................0.00 Consumer Cyclical ...................................... 1.34 Financial Services ....................................... 0.00 Real Estate .................................................. 1.49 Consumer Defensive ................................... 0.00 Healthcare ................................................... 0.00 Utilities ......................................................57.03 Communication Services .......................... 20.00 Energy .......................................................20.02 Industrials ................................................... 0.12 Technology ..................................................0.00 Total 100.00%


Ve

Oakmark Equity and Income Investment Option





GlobalSpecialty



_Strategy



Investment Advisor: Harris Associates L.P. Portfolio Manager: Clyde McGregor

Edward Studzinski


The investment seeks income and preservation and growth of capital. The fund invests primarily in a diversified portfolio of U.S. equity and debt securities (although the fund may invest up to 35% of its total assets in equity and debt securities of non-U.S. issuers). It is intended to present a balanced investment program between growth and income by investing approximately 40-75% of its total assets in common stock, including securities convertible into common stock, and up to 60% of its assets in U.S. or non-U.S. government securities and U.S. or non-U.S. corporate debt securities.

VRU Code: 661

Morningstar Category Moderate Allocation

As of 6/30/2015


Stock .........................................................57.32 Foreign Stock ..............................................5.86 Bond ......................................................... 13.26 Foreign Bond ...............................................1.11 Preferred ..................................................... 0.00 Convertible ..................................................0.00 Cash ..........................................................16.86 Other ........................................................... 5.60 Total 100.01% Largest Holdings % Assets

Bank of America Corporation ......................3.76 Oracle Corporation ......................................3.54 General Motors Co ......................................3.20 Nestle SA ADR ............................................ 2.85 CVS Health Corp ......................................... 2.74 Dover Corp ..................................................2.67 TE Connectivity Ltd ..................................... 2.56 US Treasury TIP ..........................................2.44 Foot Locker Inc ........................................... 2.43 US Treasury TIP 1.25% .............................. 2.40 Total 28.59% Diversification % Assets



Ve

Oppenheimer Developing Markets Investment Option





GlobalSpecialty

Investing in foreign issuers and non-dollar securities may involve different and additional risks associated with foreign currencies, investment disclosure, accounting, securities regulation, commissions, taxes, political or social instability, war or expropriation.



_Strategy



Investment Advisor: OFI Global Asset Management, Inc.

Investment Sub Advisor: OppenheimerFunds, Inc. Portfolio Manager: Justin Leverenz


The investment seeks capital appreciation. The fund mainly invests in common stocks of issuers in developing and emerging markets throughout the world and at times it may invest up to 100% of its total assets in foreign securities. Under normal market conditions, it will invest at least 80% of its net assets, plus borrowings for investment purposes, in equity securities of issuers whose principal activities are in a developing market, i.e. are in a developing market or are economically tied to a developing market country. The fund will invest in at least three developing markets.

VRU Code: 410

Morningstar Category Diversified Emerging Mkts

As of 6/30/2015


Stock ...........................................................0.51 Foreign Stock ............................................94.04 Bond ........................................................... 0.00 Foreign Bond ...............................................0.00 Preferred ..................................................... 0.41 Convertible ..................................................0.00 Cash ............................................................3.59 Other ........................................................... 1.45 Total 100.00% Largest Holdings % Assets

Housing Development Finance Corp Ltd .....3.45 Tencent Holdings Ltd .................................. 3.21 Magnit PJSC ............................................... 3.04 Infosys Ltd ..................................................2.70 Taiwan Semiconductor Manufacturing Co Ltd 2.64 OAO Novatek GDR ...................................... 2.39 Baidu Inc ADR .............................................2.37 Alibaba Group Holding Ltd ADR ................. 2.01 JD.com Inc ADR ......................................... 1.97 MediaTek Inc ...............................................1.86 Total 25.64% Diversification % Assets

China .........................................................19.59 India ..........................................................14.76 Brazil ........................................................... 8.81 Russia ......................................................... 6.76 Mexico ........................................................ 6.68 Hong Kong ..................................................4.56 Taiwan .........................................................4.50 United Kingdom .......................................... 3.59 France ......................................................... 3.07 Colombia .....................................................2.60 Total 74.92%


Ve

Oppenheimer International Bond Investment Option





GlobalSpecialty

Securities rated ''BB'' and below are commonly referred to as ''high yield, high risk securities'' or ''junk bonds.'' High yield bonds generally involve greater credit risk and may be more volatile than investment grade bonds.



_Strategy



Investment Advisor: OFI Global Asset Management, Inc.

Investment Sub Advisor: OppenheimerFunds, Inc. Portfolio Manager: Arthur P. Steinmetz


The investment seeks total return. The fund normally invests at least 80% of its net assets in debt securities. It typically invests in at least three countries other than the United States. The fund invests in debt securities of issuers in both developed and emerging markets throughout the world. It invests mainly in debt securities of foreign government and corporate issuers. The fund may buy securities issued by companies of any size or market capitalization range and at times might emphasize securities of issuers in a particular capitalization range. It is non-diversified.

VRU Code: 536

Morningstar Category World Bond

As of 6/30/2015


Stock ...........................................................0.23 Foreign Stock ..............................................0.09 Bond ........................................................... 1.86 Foreign Bond .............................................85.41 Preferred ..................................................... 1.67 Convertible ..................................................0.93 Cash ............................................................7.70 Other ........................................................... 2.11 Total 100.00% Largest Holdings % Assets

Brazil(Fed Rep Of) 10% .............................. 8.64 United Kingdom (Government Of) 3.75% ...2.79 India(Govt Of) 8.27% ..................................1.93 Mexico Utd Mex St 5% ............................... 1.69 Portugal(Rep Of) 2.875% ........................... 1.69 Japan(Govt Of) 2% ..................................... 1.40 Italy(Rep Of) 0.02% .................................... 1.29 United Kingdom (Government Of) 4.75% ...1.22 Japan(Govt Of) 0.1% .................................. 1.05 United Mexican States 7.62435% ...............1.03 Total 22.73%


Ve

Parnassus Core Equity Investment Option





GlobalSpecialty



_Strategy



Investment Advisor: Parnassus Investments Portfolio Manager: Benjamin Allen

Todd Ahlsten


The investment seeks to achieve both capital appreciation and current income. The fund's objective is to achieve both capital appreciation and current income by investing primarily in a diversified portfolio of equity securities. Equity securities include common and preferred stock. Under normal circumstances, the fund will invest a minimum of 80% of its net assets (plus borrowings for investment purposes) in equity securities. At least 75% of the fund's total assets will normally be invested in equity securities that pay interest or dividends.

Large

Mid

Small

Value Blend Growth

VRU Code: 218



As of 6/30/2015



Danaher Corp ..............................................4.39 Pentair PLC ................................................. 3.75 Mondelez International Inc Class A .............3.70 Motorola Solutions Inc ............................... 3.70 eBay Inc ...................................................... 3.40 Gilead Sciences Inc .....................................3.29 CVS Health Corp ......................................... 3.11 United Parcel Service Inc (UPS) Class B .... 3.10 Procter & Gamble Co ..................................3.01 Allergan PLC ............................................... 2.97 Total 34.42% Diversification % Assets

Basic Materials ............................................7.12 Consumer Cyclical ...................................... 6.11 Financial Services ....................................... 5.17 Real Estate .................................................. 0.00 Consumer Defensive ................................. 14.09 Healthcare ................................................. 16.12 Utilities ........................................................3.60 Communication Services ............................ 2.32 Energy .........................................................2.99 Industrials ................................................. 25.78 Technology ................................................16.69 Total 99.99%


Ve

PIMCO Real Return Investment Option





GlobalSpecialty

This Fund invests at least 80% of its assets in inflation-indexed bonds of varying maturities. It may invest in foreign securities, with not more than 20% of its assets in securities denominated in foreign currencies. The Fund may also invest in mortgage related securities and up to 10% in high-yield securities. Inflation-indexed bonds issued by the U.S. Government, known as TIPS, are fixed-income securities whose principal value is periodically adjusted according to the rate of inflation, which will affect the interest payable on them. Repayment upon maturity of the adjusted principal value is guaranteed by the U.S. Government. Neither the current market value of inflation-indexed bonds nor the share value of a fund that invests in them is guaranteed, and either or both may fluctuate. Investing in foreign securities may entail risk due to foreign economic and political developments; this risk may be enhanced when investing in emerging markets. (See below footnote for additional Risk/Return information.)



_Strategy



Investment Advisor: Pacific Investment Management Co LLC

Portfolio Manager: Mihir Worah


The investment seeks maximum real return, consistent with preservation of capital and prudent investment management. The fund normally invests at least 80% of its net assets in inflation-indexed bonds of varying maturities issued by the U.S. and non-U.S. governments, their agencies or instrumentalities, and corporations, which may be represented by forwards or derivatives such as options, futures contracts or swap agreements. It invests primarily in investment grade securities, but may invest up to 10% of its total assets in high yield securities ("junk bonds") rated B or higher.

VRU Code: 541

Morningstar Category Inflation-Protected Bond

As of 3/31/2015


Stock ...........................................................0.00 Foreign Stock ..............................................0.00 Bond ......................................................... 44.77 Foreign Bond ...............................................3.84 Preferred ..................................................... 0.12 Convertible ..................................................0.00 Cash ..........................................................46.74 Other ........................................................... 4.53 Total 100.00% Largest Holdings % Assets

Fin Fut Euro$ Cme (Wht) 12/14/15 ...........21.31 US Treasury TIP ........................................13.47 US Treasury TIP ........................................10.96 US Treasury TIP ........................................10.10 US Treasury TIP 1.25% .............................. 9.42 Fin Fut Euro$ Cme (Wht) 06/15/15 .............8.37 US Treasury TIP 3.625% ............................ 8.14 Irs Gbp 1.250 06/17/15-2y Cme ................. 7.65 Fin Fut Euro$ Cme (Wht) 03/14/16 .............6.51 Cdx Itraxx Main23 5y Ice ............................ 5.77 Total 101.70%


Ve

PIMCO Total Return Investment Option





GlobalSpecialty

This Fund invests at least 65% of its assets in a diversified portfolio of fixed-income securities, up to 20% in foreign currency-denominated securities, and 10% in high-yield securities. Investing in foreign securities may entail risk due to foreign economic and political developments; this risk may be enhanced when investing in emerging markets. High-yield bonds typically have a lower credit rating than other bonds. Lower rated bonds generally involve a greater risk to principal than higher rated bonds. This Fund may use derivative instruments for hedging purposes or as part of its investment strategy. Use of these instruments may involve certain costs and risks such as liquidity risk, interest rate risk, market risk, credit risk, management risk and the risk that a fund could not close out a position when it would be most advantageous to do so. Portfolios investing in derivatives could lose more than the principal amount invested in those instruments.



_Strategy



Investment Advisor: Pacific Investment Management Co LLC

Portfolio Manager: William H. Gross


The investment seeks maximum total return, consistent with preservation of capital and prudent investment management. The fund normally invests at least 65% of its total assets in a diversified portfolio of Fixed Income Instruments of varying maturities, which may be represented by forwards or derivatives such as options, futures contracts, or swap agreements. It invests primarily in investment-grade debt securities, but may invest up to 10% of its total assets in high yield securities ("junk bonds") rated B or higher by Moody's, or equivalently rated by S&P or Fitch, or, if unrated, determined by PIMCO to be of comparable quality.

VRU Code: 300

Morningstar Category Intermediate-Term Bond

As of 3/31/2015


Stock ...........................................................0.00 Foreign Stock ..............................................0.00 Bond ......................................................... 77.87 Foreign Bond .............................................11.80 Preferred ..................................................... 0.45 Convertible ..................................................0.00 Cash ............................................................6.64 Other ........................................................... 3.24 Total 100.00% Largest Holdings % Assets

10 Year US Treasury Note Future June15 . 16.90 Irs Usd 1.000 04/17/15-2y Cme ............... 14.26 US Treasury Bond 3.125% ..........................4.84 Euro BUND Future June15 ..........................4.58 FNMA .......................................................... 4.22 Irs Usd 4.250 06/15/11-30y Cme ............... 3.93 FNMA .......................................................... 3.73 Irs Usd 2.500 10/16/14-10y Lch .................3.59 US Treasury Note 2.25% ............................ 3.39 Irs Usd 3.500 12/18/13-30y Cme ............... 3.32 Total 62.76%


Ve

Prudential Jennison Mid Cap Growth Investment Option





GlobalSpecialty




_Strategy



Investment Advisor: Prudential Investments LLC Investment Sub Advisor: Jennison Associates LLC Portfolio Manager: John Mullman


The investment seeks long-term capital appreciation. The fund normally invests at least 80% of its investable assets in equity and equity-related securities of medium-sized companies with the potential for above-average growth. In deciding which equities to buy, it uses what is known as a growth investment style. The fund's investable assets will be less than its total assets to the extent that it has borrowed money for non-investment purposes, such as to meet anticipated redemptions.

Large

Mid

Small

Value Blend Growth

VRU Code: 943

Morningstar Category Mid-Cap Growth


As of 6/30/2015



SBA Communications Corp .........................2.81 Vantiv Inc .................................................... 2.09 Electronic Arts Inc .......................................2.07 Dollar Tree Stores Inc ................................. 2.05 Roper Technologies Inc .............................. 1.95 Red Hat Inc ................................................. 1.93 Hain Celestial Group Inc ............................. 1.82 Crown Castle International Corp ................. 1.76 Amphenol Corp Class A .............................. 1.71 Henry Schein Inc .........................................1.70 Total 19.89% Diversification % Assets

Basic Materials ............................................3.54 Consumer Cyclical .................................... 15.76 Financial Services ....................................... 5.16 Real Estate .................................................. 2.55 Consumer Defensive ................................. 12.24 Healthcare ................................................. 16.09 Utilities ........................................................0.86 Communication Services ............................ 4.71 Energy .........................................................2.89 Industrials ................................................. 18.13 Technology ................................................18.10 Total 100.03%


Ve

Royce Pennsylvania Mutual Investment Option





GlobalSpecialty




_Strategy



Investment Advisor: Royce & Associates, LLC Portfolio Manager: Team Managed


The investment seeks long-term growth of capital. The fund invests its assets primarily in the equity securities of small-cap companies with stock market capitalizations up to $3 billion that it believes are trading below its estimate of their current worth. Normally, the fund invests at least 65% of its net assets in the equity securities of such small-cap companies. Although the fund normally focuses on the securities of U.S. companies, it may invest up to 25% of its net assets (measured at the time of investment) in securities of companies headquartered in foreign countries.

Large

Mid

Small

Value Blend Growth

VRU Code: 748



As of 6/30/2015



Ritchie Bros Auctioneers Inc .......................0.98 Quaker Chemical Corp ................................ 0.84 Genworth MI Canada, Inc. .......................... 0.82 Genesco Inc ................................................ 0.80 Buckle, Inc. ................................................. 0.79 Reliance Steel and Aluminum ..................... 0.78 MKS Instruments Inc ..................................0.74 Seacor Holdings Inc ....................................0.74 Thor Industries Inc ..................................... 0.72 SEI Investments Company ..........................0.70 Total 7.91% Diversification % Assets



Ve

SSgA Russell Small Cap Index Sec Lend Investment Option





GlobalSpecialty


_Strategy


Inception Date: 11/30/1992 Net Assets ($ in millions): $1,892.81

Investment Advisor: State Street Bank & Trust Co.


The Russell 2000 Index Strategy seeks to replicate the returns and characteristics of the Russell 2000 Index.

VRU Code: 601

As of 6/30/2015


Stocks ..................................................... 100.00 Total 100.00% Largest Holdings % Assets

TEAM HEALTH HOLDINGS INC ...................0.25 MANHATTAN ASSOCIATES INC .................. 0.23 CEPHEID INC .............................................. 0.23 TYLER TECHNOLOGIES INC ....................... 0.23 MAXIMUS INC ............................................ 0.23 HEALTHSOUTH CORP .................................0.23 INVESTORS BANCORP INC ........................ 0.23 WEST PHARMACEUTICAL SERVICES .........0.22 NEUROCRINE BIOSCIENCES INC ............... 0.21 PROSPERITY BANCSHARES INC ................0.21 Total 2.27% Diversification % Assets

Financials .................................................. 24.34 Information Technology ............................ 17.13 Industrials ................................................. 13.01 Healthcare ................................................. 15.77 Consumer Discretionary ........................... 14.56 Energy .........................................................3.86 Materials ..................................................... 4.07 Utilities ........................................................3.26 Consumer Staples .......................................3.15 Telecommunication Services .......................0.85 Total 100.00%


Ve

SSgA S&P 500 Index Sec Lend Investment Option





GlobalSpecialty

_Strategy



Investment Advisor: State Street Global Advisors


The S&P 500 Flagship investment option seeks to replicate the returns and characteristics of the S&P 500 Index.

VRU Code: 599

As of 6/30/2015

Largest Holdings % Assets

General Electric ........................................... 1.47 Microsoft Corp ............................................1.96 Apple Inc .....................................................3.96 Pfizer Inc .....................................................1.13 Johnson & Johnson ....................................1.49 Proctor & Gamble Co ..................................1.16 BERKSHIRE HATHAWAY INC-CL B ............. 1.36 Exxon Mobil Corp ....................................... 1.91 JPMorgan Chase & Co ................................1.38 Wells Fargo & Co ........................................ 1.45 Total 17.27% Diversification % Assets

Financials .................................................. 16.51 Information Technology ............................ 19.69 Energy .........................................................7.84 Healthcare ................................................. 15.42 Industrials ................................................. 10.16 Consumer Staples .......................................9.39 Consumer Discretionary ........................... 12.78 Telecommunication Services .......................2.26 Utilities ........................................................2.83 Materials ..................................................... 3.13 Total 100.01%


Ve

SSgA S&P MidCap Index Non-Lend Series Investment Option





GlobalSpecialty


_Strategy



Investment Advisor: State Street Bank & Trust Co.


The S&P MidCap Index Strategy seeks to replicate the returns and characteristics of the S&P MidCap 400 Index.

VRU Code: 600

As of 6/30/2015


Stocks ..................................................... 100.00 Total 100.00% Largest Holdings % Assets

CENTENE CORP .......................................... 0.59 CHURCH & DWIGHT CO INC ...................... 0.66 FOOT LOCKER INC ......................................0.58 LKQ CORP ...................................................0.57 ADVANCE AUTO PARTS INC .......................0.72 OMNICARE INC ...........................................0.57 JARDEN CORP ............................................0.58 METTLER-TOLEDO INTERNATIONAL ..........0.60 SIGNET JEWELERS LTD ............................. 0.64 HOLOGIC INC ..............................................0.58 Total 6.09% Diversification % Assets

Industrials ................................................. 15.01 Financials .................................................. 24.15 Information Technology ............................ 16.45 Healthcare ................................................... 9.24 Consumer Discretionary ........................... 14.35 Energy .........................................................4.57 Utilities ........................................................4.41 Materials ..................................................... 7.46 Consumer Staples .......................................4.18 Telecommunication Services .......................0.18 Total 100.00%


Ve

Vanguard Target Retirement 2015 Investment Option





GlobalSpecialty

The target date aligns with the year closest to the expected retirement date. Performance of target date funds depends on the performance of the underlying mutual funds and is not guaranteed at any time, including the target date. These funds may be subject to the volatility of global financial markets (domestic and international) and additional risks associated with investing in high yield, small cap and foreign securities. The principal value of target date funds isn't guaranteed even at the target date. A target date fund distributes contributions around a broad spectrum of stocks, bonds and cash. These allocations are rebalanced over time so the asset mix gets more conservative as the target date approaches.



_Strategy



Investment Advisor: Vanguard Group, Inc. Portfolio Manager: Duane Kelly


The investment seeks to provide capital appreciation and current income consistent with its current asset allocation. The fund invests in other Vanguard mutual funds according to an asset allocation strategy designed for investors planning to retire and leave the workforce in or within a few years of 2015 (the target year). The fund's asset allocation will become more conservative over time, meaning that the percentage of assets allocated to stocks will decrease while the percentage of assets allocated to bonds and other fixed income investments will increase.

VRU Code: 819

Morningstar Category Target Date 2011-2015

As of 6/30/2015


Stock .........................................................31.05 Foreign Stock ............................................16.72 Bond ......................................................... 32.24 Foreign Bond .............................................14.62 Preferred ..................................................... 0.12 Convertible ..................................................0.00 Cash ............................................................3.99 Other ........................................................... 1.27 Total 100.01% Largest Holdings % Assets

Vanguard Total Stock Mkt Idx Inv .............31.52 Vanguard Total Bond Market II Idx Inv ..... 30.22 Vanguard Total Intl Stock Index Inv .......... 17.42 Vanguard Total Intl Bd Idx Investor ...........12.52 Vanguard Shrt-Term Infl-Prot Sec Idx Inv ...8.31 Total 99.99% Diversification % Assets



Ve






GlobalSpecialty




_Strategy






VRU Code: 968


As of 6/30/2015



Vanguard Total Stock Mkt Idx Inv .............44.14 Vanguard Total Bond Market II Idx Inv ..... 23.87 Vanguard Total Intl Stock Index Inv .......... 22.62 Vanguard Total Intl Bd Idx Investor .............9.33 Total 99.96% Diversification % Assets



Ve






GlobalSpecialty




_Strategy






VRU Code: 969


As of 6/30/2015



Vanguard Total Stock Mkt Idx Inv .............53.84 Vanguard Total Intl Stock Index Inv .......... 28.08 Vanguard Total Bond Market II Idx Inv ..... 12.70 Vanguard Total Intl Bd Idx Investor .............5.35 Total 99.97% Diversification % Assets



Ve






GlobalSpecialty




_Strategy






VRU Code: 970


As of 6/30/2015



Vanguard Total Stock Mkt Idx Inv .............57.13 Vanguard Total Intl Stock Index Inv .......... 32.85 Vanguard Total Bond Market II Idx Inv ....... 6.98 Vanguard Total Intl Bd Idx Investor .............2.99 Total 99.95% Diversification % Assets



Ve

Vanguard Target Retirement Income Investment Option





GlobalSpecialty




_Strategy





The investment seeks to provide current income and some capital appreciation. The fund invests in other Vanguard mutual funds according to an asset allocation strategy designed for investors currently in retirement. Its indirect bond holdings are a diversified mix of short-, intermediate-, and long-term U.S. government, U.S. agency, and investment-grade U.S. corporate bonds; inflation-protected public obligations issued by the U.S. Treasury; mortgage-backed and asset-backed securities; and government, agency, corporate, and securitized investment-grade foreign bonds issued in currencies other than the U.S. dollar.

VRU Code: 971

Morningstar Category Retirement Income

As of 6/30/2015



Vanguard Total Bond Market II Idx Inv ..... 37.67 Vanguard Total Stock Mkt Idx Inv .............18.82 Vanguard Shrt-Term Infl-Prot Sec Idx Inv .16.79 Vanguard Total Intl Bd Idx Investor ...........15.76 Vanguard Total Intl Stock Index Inv .......... 10.93 Total 99.97% Diversification % Assets



Ve

Vanguard Total Stock Mkt Index Investment Option





GlobalSpecialty



_Strategy



Investment Advisor: Vanguard Group, Inc. Portfolio Manager: Gerard OReilly


The investment seeks to track the performance of a benchmark index that measures the investment return of the overall stock market. The fund employs an indexing investment approach designed to track the performance of the CRSP US Total Market Index, which represents approximately 100% of the investable U.S. stock market and includes large-, mid-, small-, and micro-cap stocks regularly traded on the New York Stock Exchange and Nasdaq. It invests by sampling the index, meaning that it holds a broadly diversified collection of securities that, in the aggregate, approximates the full index in terms of key characteristics.

Large

Mid

Small

Value Blend Growth

VRU Code: 281



As of 6/30/2015



Apple Inc .....................................................3.18 Exxon Mobil Corporation ............................ 1.53 Microsoft Corp ............................................1.42 Johnson & Johnson ....................................1.19 General Electric Co ......................................1.18 Wells Fargo & Co ........................................ 1.15 JPMorgan Chase & Co ................................1.11 Berkshire Hathaway Inc Class B ................. 1.06 Procter & Gamble Co ..................................0.93 Pfizer Inc .....................................................0.91 Total 13.66% Diversification % Assets



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Privacy Notice

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