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The Cooperative Baptist Fellowship 403(b) Retirement Plan Enrollment Booklet


Enroll today  Plan for tomorrow  Take an important step toward making tomorrow financially secure and join the Cooperative Baptist Fellowship 403(b) Retirement Plan, available only through the Church Benefits Board. In conjunction with our benefit provider The Standard, the information on the following pages will assist you in taking this important step for you and your family. The CBF 403(b) Retirement Plan was specifically created for CBF staff, churches and related organizations. It allows members to take advantage of tax benefits provided for church-related organizations and employees.

Information for Informed Decisions  If you are joining for the first time, or rolling over benefits from another retirement plan, you’ll find the forms and information you need to make this process as painless as possible. In the Plan Overview section, you’ll find information on the savings and investing tools offered by The Standard and Church Benefits Board. In addition to the many options, you’ll find statistics and portfolio data to help you make informed decisions about retirement investing.

Need More Help?    Detailed investing information is also available at www.churchbenefits.org. The staff at the Church Benefits Board is committed to helping you make the best possible decisions on benefits that support quality leadership in God’s mission. If you have additional questions, or would like to know how to begin the process of transferring your retirement funds to the Church Benefits Board, please call our office direct at 800-352-8741. You can also e-mail your questions to churchbenefits@churchbenefits.org. We look forward to hearing from you soon!

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Enroll today

Plan for tomorrow

Take an important step toward making tomorrow financially secure. Join your retirement savings plan today. Your employer’s plan offers a rewarding way to invest for your retirement. Take advantage of this opportunity. The amount you invest now might make the difference between having financial security in retirement and just getting by. It’s easy to enroll in your employer’s retirement savings plan. These enrollment materials have all of the forms you need and information on the investment choices offered by the plan. Please read all of the materials you receive carefully before making any decision about how to invest your money. If you have any questions about the plan, be sure to contact your plan administrator.

How to Sign Up Step 1: Determine how much you want to save. Step 2: Take the “Investor Profile Quiz” to identify your preferred investing style. Step 3: Determine how you’d like to invest, whether it’s using a recommended pre-mixed portfolio or selecting your own asset allocation. You can modify your investments online at any time. Step 4: Decide if you’d like to use the Automatic Rebalancer service. Step 5: Select the method you’ll use to enro­­­­ll: •

The paper method using this booklet.

The CBB membership enrollment package; call the Church Benefits Board at 800.352.8741.

Step 6: Deliver, fax or mail the completed forms to the designated person at CBB office. Step 7: Select the method you’ll use to register using the Personal Identification Number (PIN) you received via mail from The Standard: •

Online at retirement.standard.com.

— Register using your Social Security number and assigned Personal Identification Number (PIN). If you need a PIN, call 800.858.5420. • The

automated telephone system, INFOLINE, by calling 800.858.5420.

— Register using your Social Security number and assigned PIN. — Press “7.”

• Call the Church Benefits Board for assistance at 800.352.8741. Step 8: Complete or change your investment directive •

Online: go to “Update Account,” then “Change Directives.­­­”

Paper: use the Investing Form in this booklet.

Step 9: Deliver, fax or mail the completed form to the designated person or CBB office. Step 10: Congratulate yourself for signing up! To complete the enrollment process, return the forms to the designated person or department. Once received, your contributions will be deposited in your retirement account beginning with your first paycheck following your date of participation.

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Accessing your account

Manage your retirement plan online or by phone INFOLINE

Personal Savings Center Personal Savings Center provides detailed account information and valuable services to help you manage your retirement account online, including: • viewing your account balance — in total, by investment option or by money source • transferring existing account balances • obtaining details of every investment option available in your plan, such as major holdings, asset class and risk characteristics • changing investment directives for your future contributions • using the Automatic Rebalancer to maintain your original asset allocation (if your plan permits this option) • choosing how much to contribute and how you want those contributions invested (if your plan offers online enrollment) • viewing regularly updated fund performance for every investment in your plan • examining your account transaction history • using Retirement Planning Resources to access educational materials, interactive calculators and worksheets for planning your retirement strategy.

From a touch-tone phone, call 800.858.5420. Using your phone keypad:

• Press 1 to continue in English, or press 2 to continue in Spanish. • Enter your Social Security number when prompted. • Press 1 if you know your PIN, or press 2 to request a PIN. • If you know your PIN, enter it. • For one of the following services, press the appropriate number: 1

Access account balance

2

Fund information

3

Access and change investment directives

4

Transfer assets between investment options

5

Change contribution rate (if allowed by your plan)

6

Change your PIN

7

Enroll via INFOLINE (if allowed by your plan)

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Hear options again

0

Talk to a customer service representative

Accessing Personal Savings Center • Visit retirement.standard.com and select the Individuals tab in the upper-right corner. • The first time you visit, create a login and password by selecting “Register Account” and providing the requested information. You’ll need your Social Security number and PIN to register. • To access the Personal Savings Center, select the link in the right navigation column and enter your login and password. • Move your mouse over the navigation bar at the top of the page to see additional features of the site.

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CBF 403(b) Plan MEMBERSHIP APPLICATION FORM Church/Employer Acct: New

or #__________

Monthly Contributions

Please check below the participant program enrollment(s), indicate monthly contribution amount or salary annual percentage, and the plan effective date.

403(b) Church/Employer Retirement Plan Contribution. Employer monthly contribution amount.

Effective Date

7

Employee needs to complete the 403(b) Retirement Beneficiary section below.

403(b) Employee Deferral Election Contribution. Employee elects to defer from each paycheck the following percentage or amount as pre-tax contribution. Complete the CBB SRA Form for payroll processing, see 2nd page for more info on ED Plan

Employee Life, AD&D & Disability Insurance. ELIGIBILITY – Enrolled in a CBB 403(b) Account and with

3%

taxable benefits working at least 20 hour or per employer policy. Complete the CBB Insurance section below.

Note: The effective date can’t be prior to the employee’s hire date. The first month’s premium check will be allocated to the month indicated above.

1- Participant Information Title

Last Name

First Name

Home Address

Social Security #

City / State / Zip

Gender Male

Date of Hire

Job Title

Middle Initial Date of Birth Female

Home Phone

Email

2- Employment Information Church or Employer

Administrator Name

Tax ID#

Address

Admin Phone#

Fax#

City / State / Zip

Email

Are you currently enrolled in a medical plan, or do you intend to enroll following the submission of the Retirement Plan? For Clergy ONLY: Please indicate ministerial status Ordained

Commissioned

Yes

No

Ordination Status Granted By

Licensed

CBF church

Other church

For Clergy: Is your employer eligible to designate a portion of your compensation as housing allowance or rental value of parsonage, plus utilities, which would not be reported as taxable income? Yes No

3- Compensation Information - REQUIRED TO ENSURE COMPLIANCE WITH IRS REGULATIONS (Calculate carefully; amount is used to ensure compliance with IRS regulations regarding contribution limits). Application won’t be processed without this information)

Compensation Amount (round to the nearest dollar)

Per Year

A) Annual Cash Salary (include amounts to be withheld for per year Employee Payroll Contribution & Flexible Spending Account)

Year Total =

B) Clergy Housing (complete either 1 or 2) 1)

Housing Allowance Total or

2)

Parsonage rental value

1)

a) Parsonage allowance

=

b) Utilities allowance

= 2)

Total Parsonage (a + b)

=

Total Housing (select either 1 or 2 amount) C) Social Security/Medicare Tax Offset Amount Should it be included in the premium calculation?

= Yes

No

D) Total Annual Compensation Amount: (total A + B + C) Does not include life & disability premiums or retirement contribution, medical premiums, or ministry—related exp. such as car exp., continuing education, convention expenses, books, periodicals, etc

=


4- 403(b) Beneficiary Information STATEMENT OF MARITAL STATUS Married Participant Naming Primary Beneficiary (ies) other than Spouse

Married Participant Naming Spouse as Sole Beneficiary

By checking this box, I hereby certify to the Church Benefits Board that I am married and intend to name my primary beneficiary as someone other than my spouse. (Complete Alternate Beneficiary Designation Form)

By checking this box, I hereby certify to the Church Benefits Board that I am married and intend to name my spouse as the beneficiary of any benefits payable upon my death. (Complete Beneficiary information below)

Unmarried Participant By checking this box, I hereby certify to the Church Benefits Board that I am unmarried. (Complete beneficiary information below)

403(b) PRIMARY BENEFICIARY (IES) Name

Address

SS#

Relationship

% of Proceeds

Name

Address

SS#

Relationship

% of Proceeds

Name

Address

SS#

Relationship

% of Proceeds

* Note: If you are married, Federal Law requires that your spouse be your primary beneficiary unless spousal consent is provided. If you choose someone other than, or in addition to your spouse as primary beneficiary, a signed, notarized Spousal Consent Form must be presented to waive the survivor benefit provided by the Plan. Contact your Plan Administrator should you require a Spousal Consent Form.

403(b) SECONDARY BENEFICIARY(IES If none of my primary beneficiary(ies) survive me, I designate the following as secondary beneficiary(ies). Address SS# Relationship

Name

% of Proceeds

Name

Address

SS#

Relationship

% of Proceeds

Name

Address

SS#

Relationship

% of Proceeds

If no beneficiary survives me or if no beneficiary is named, my account balance will be payable in accordance with the provisions of the Plan. I authorize the Plan Administrator to execute my directions as set forth above. I understand these directions will be in effect until a subsequent election is submitted, or as required by law or the Plan. Furthermore, I understand that all benefits and rights to which I am entitled under the Plan will be determined only in accordance with the Plan and Trust Agreement, all amendments thereto, and regulations thereunder. I agree, if more than one beneficiary is designated, payments will be made in equal shares to those persons designated as beneficiaries who survive me, unless indicated otherwise. 403(b) Employee Payroll Election Contributions (Please complete the Salary Reduction Agreement Form) The maximum deferral limits are calendar year limits that include all plans you have participated in during the year is $17,000. • Participants who will be age 50 or older this year, may elect to make catch-up contributions. You may defer an additional $5,500 catch-up contribution. Participants must first reach the maximum deferral limits under the regulations or other limits defined by the plan before any catchup contributions may be made. By checking this box, I am confirming that I will be age 50 or older this year and would like to make catch-up contributions. Furthermore, I confirm that the 403(b) Employer Payroll deferral election made above includes any amounts that I am permitted to designate as catch up contributions.

5- Insurance Information (complete only if you are enrolling in the CBB Life, AD&D and Disability Insurance) Let us know how the Insurance Premium payment will be processed:

Employer/Church - Employer/Church paid Employee Voluntary - Employer paid via Employee Salary Reduction Agreement – Check here if paid with after-tax dollars Life & Life Dep (after tax) LTD Gross-Up Earnings (pre-tax) - Please contact the CBB office to review this option at (800) 352-8741. For Clergy ONLY:

Do you participate in Social Security?

Yes

No, Form 4361 filed with IRS

6- Insurance Primary Beneficiary (ies) This designation applies to Life/Life with AD&D Insurance available through the Church Benefits Board, if any. Designations are not valid unless signed, dated, and delivered to the Church Benefits Board during your lifetime. See page 2 for further information.

Full Name

Address

Soc. Sec. No.

Relationship

% of Benefit

Full Name

Address

Soc. Sec. No.

Relationship

% of Benefit

Full Name

Address

Soc. Sec. No.

Relationship

% of Benefit


Insurance Contingent Beneficiary (ies) Full Name

Address

Soc. Sec. No.

Relationship

% of Benefit

Full Name

Address

Soc. Sec. No.

Relationship

% of Benefit

Full Name

Address

Soc. Sec. No.

Relationship

% of Benefit

Insurance Beneficiary Information • • •

Your designation revokes all prior designations. Benefits are only payable to a contingent Beneficiary if you are not survived by one or more primary Beneficiary (ies). If you name two or more Beneficiaries in a class: 1. 2.

3.

Two or more surviving Beneficiaries will share equally, unless you provide for unequal shares. If you provide for unequal shares in a class, and two or more Beneficiaries in that class survive, we will pay each surviving Beneficiary his or her designated share. Unless you provide otherwise, we will then pay the share(s) otherwise due to any deceased Beneficiary (ies) to the surviving Beneficiaries pro rata based on the relationship that the designated percentage or fractional share of each surviving Beneficiary bears to the total shares of all surviving Beneficiaries. If only one Beneficiary in a class survives, we will pay the total death benefits to that Beneficiary.

If a minor (a person not of legal age), or your estate, is the Beneficiary, it may be necessary to have a guardian or a legal representative appointed by the court before any death benefit can be paid. If the Beneficiary is a trust or trustee, the written trust must be identified in the Beneficiary designation. For example, “Dorothy Q. Smith, Trustee under the trust agreement dated________________________ .”

A power of attorney must grant specific authority, by the terms of the document or applicable law, to make or change a Beneficiary designation. If you have any questions, consult your legal advisor.

Dependents Insurance, if any, is payable to you, if living, or as provided under your Employer’s coverage under the Group Policy.

Effective on the 1st of the following month that the employee is approved and for which premiums are paid. The eligible employee shall be enrolled in the CBF-CBB Group Life, AD&D, Long Term Disability and all other insurance and benefit programs available to its eligible employees and their eligible dependents. The effective date of this insurance coverage is intended to be first of the month as outlined above or such other date as the Insurance Companies approve, whichever is later. If approved, no insurance for which evidence of insurability or good health is required will become effective until approved by the Insurance Company at its Home Office.

The Employer/Applicant authorizes the Church Benefits Board to act as its agent for the purposes set forth in any and all Insurance agreements for the individual named above. This includes functions relevant to the procurement of group insurance policies, including but not limited to: (1) execution of applications for any master group insurance policy (ies); (2) holding any master group insurance policy (ies); and (3) delegation of agency to insurers.

The Employer/Applicant acknowledges that the master group insurance policy or summary of benefits held by CBB under which insurance is provided may contain numerous optional provisions which are available in order to provide each participating employer with the ability to select provisions which meet its own needs. It is understood and agreed that only those provisions which appear in a Summary of Benefits or certificate provided to the each participating employer apply to such participating employer’s insurance coverage, including the Employer/Applicant.

Participation Authorization I authorize the Church Benefits Board to execute my directions as set forth above. • I understand these directions will be in effect until a subsequent election is submitted, or as required by law or the Plan. • I understand that all benefits and rights to which I am entitled under the Plan will be determined only in accordance with the Plan and Trust Agreement, all amendments thereto, and regulations thereunder. I agree, if more than one beneficiary is designated, payments will be made in equal shares to those persons designated as beneficiaries who survive me, unless indicated otherwise • I understand that my ability to take distributions from my account may be limited. • I understand my contributions and account balance are automatically invested in the default fund directive, unless I elect to make investment choices. • I understand that my eligibility for premium-paying membership depends upon my continuing to serve a church or organization appropriately related to the Cooperative Baptist Fellowship, Inc., continuing to serve in ministry as a member ordained by the CBF, and/or continuing to serve in ministry as a member whose ordination is in good standing with CBF. • I agree to adhere to the provisions and any amendments of said plans for which I apply. • I wish to make the choices indicated on this form. If electing coverage, I authorize deductions from my wages to cover my

contribution, if required, toward the cost of insurance. I understand that my deduction amount will change if my coverage or costs change. Signature of Applicant

Date

Signature of Employer

Date

Please keep a copy of this form for your records and return the original to: Church Benefits Board 2930 Flowers Road, Suite 133A Atlanta, GA 30341

Phone: (800) 352-8741 Fax: (770) 220-1661 Web: www.churchbenefits.org


Primary Beneficiary Designation Form CBF 403(b) Plan Spousal Consent Form

PARTICIPANT INFORMATION Name

Social Security Number

SPOUSAL CONSENT (IF SPOUSE IS NOT DESIGNATED AS THE SOLE BENEFICIARY)

I, the undersigned, being the spouse of the above-named Plan participant, consent to the Non-Spouse Primary Beneficiary designated and to any distribution made pursuant thereto in accordance with the terms of the Plan. I understand that any Plan benefits payable upon the death of the above-named Participant shall be payable to the primary beneficiary(ies) named in the Plan Beneficiary Designation Form in the percentages designated on such form and not to myself, and I hereby consent to the designation and payment to such non-spouse.

Spouse Name Spouse’s Signature

Date

Notarized by:

Name of Employer or church Administrator

SIGNATURE

_______________ DATE

Please keep a copy of this form for your records and return the original to: Church Benefits Board 2930 Flowers Road, Suite 133A Atlanta, GA 30341 Web: www.churchbenefits.org

Phone: (800) 352-8741 Fax: (770) 220-1661


SALARY REDUCTION AGREEMENT CBF 403(b) Plan

Employee Information

Check one:

 Initial Agreement

Last Name

First Name

Social Security No.

Name of Employer

 Change to Prior Agreement M.I.

Salary Reduction Agreement The employee authorizes the employer to make salary reduction contributions on the employee’s behalf to Employee Deferral 403(b) Plan. All such salary reduction contributions shall be forwarded by the employer to The Church Benefits Board (CBB) to be allocated to the employee’s Employee Deferral account administered by The Church Benefits Board (CBB). For purposes of making such contributions, the employee agrees that his/her compensation will be reduced as indicated below.

Contribution 1. Deduct From Paycheck: (Select one)

3. Salary Reductions continue: (Select one)

 $ ______________________ per month OR

Until I request an end date

 ___________% of base salary amount

Through the last paycheck of the calendar year

Indicate base salary: $ ______________________ % will change as base salary changes

For one paycheck only

Until (month/day/year) ______ /______ /______

2. Salary Reductions start with the payroll period beginning: ________ /________ /________

Terms and Conditions This agreement is legally binding on the undersigned employee and employer, and is irrevocable with respect to compensation earned by such employee while this agreement is in effect. This agreement shall continue until it is terminated or amended. This agreement may be amended, with regard to compensation not yet earned, by the execution of a Salary Reduction Agreement by the employer and the employee no less than 14 days before the start of a payroll period. This agreement supersedes all prior Salary Reduction Agreements and contributions pursuant to this agreement shall immediately cease upon the employee’s termination of employment with the employer. If the employee is re-hired, a new Salary Reduction Agreement will be necessary. This agreement may be terminated at any time by the employee for compensation not yet earned, upon written notice delivered by the employee to the employer. A termination request is permanent and remains in effect until a new Salary Reduction Agreement is submitted. The employee and employer understand that the contributions originate and the tax deferral applies to amounts derived through a reduction of the employee’s salary, and the employer forwarding such contributions to CBB. In no event shall these contributions exceed the limits provided by Section 402(g) and/or 415 of the Internal Revenue Code or other applicable limits, which limits are also set forth in the Plan. The employee agrees to promptly notify the employer in the event that these limits are affected by any other plan(s) maintained outside of this employer [for example, a Section 401(k) plan or pension plan] or if he/she has knowledge that they reached any of the foregoing limits. The employer and CBB reserve the right to automatically reduce the amount of the employee’s contribution if it is determined that these deductions will exceed any applicable legal limits. This agreement is not a contract of employment between the employee and the employer, and does not restrict the right of the employer to discharge the employee or the right of the employee to terminate his/her own employment. Signature of employee

Date

Signature of employer representative

Date

Please return this completed form to:

Church Benefits Board 2930 Flowers Road, Suite 133A Atlanta, GA 30341

Phone: (800) 352-8741 Fax: (770) 220-1661 Web: www.churchbenefits.org


APPLICATION FOR ROLLOVER FORM Cooperative Baptist Fellowship 403(b) Plan #806561 PARTICIPANT INFORMATION Title

Last Name

First Name

Email /phone#

Middle Initial

Social Security #

Date of Birth

ROLLOVER CONTRIBUTION INFORMATION See your Summary Plan Description or Plan Administrator for your plan’s rollover provisions. I request the Plan Administrator to accept my rollover, based on the following information. The Plan Administrator reserves the right to require additional evidence that my distribution is from a qualified retirement plan, a tax sheltered annuity, a governmental 457 plan, or an IRA, as allowed by the Plan. Name of distributing plan or IRA custodian: ___________________________________________________________________ Amount $ ______________

All Eligible Accounts or

All Total Balance

The requested rollover represents: a. An eligible rollover distribution from: a qualified retirement plan a tax-sheltered annuity a governmental 457 plan b. a distribution from a traditional IRA that would otherwise be includable in my gross income. a. a distribution from a Conduit IRA which consisted solely of an eligible rollover distribution from a qualified plan and any associated earnings, for which I wish to preserve capital gains and averaging treatment. The distribution: Will be paid directly from the distributing plan to The Standard on behalf of this Plan. Is from another qualified plan; it includes after-tax contributions of $______________,which must be accounted for separately. Was paid to me on_____________________________. (The Standard must receive distribution within 60days.)

PARTICIPANT SIGNATURE I verify that the information provided above is true and complete. I understand that the Plan Administrator may choose not to accept this rollover if it would jeopardize the Plan’s tax status. I also understand that if this rollover is accepted, it will be directed to investments based on my contribution directives in place at the time the rollover is received by The Standard. If I do not have directives in place, the rollover will be deposited into the Plan’s Default Fund. Signature of Applicant

Date

PAYEE AND MAILING INSTRUCTIONS The distribution check should be payable Church Benefits Board FBO: (Participant’s Name) and mailed to: Church Benefits Board

2930 Flowers Road, Suite 133A Atlanta, GA 30341 Attention: Plan No.:806561 Plan Name: Cooperative Baptist Fellowship 403(b) Plan

PLAN ADMINISTRATOR ACCEPTANCE As an authorized representative of the Cooperative Baptist Fellowship 403(b) Plan, I certify the Plan Administrator has investigated the rollover requested above and is satisfied that it will not jeopardize this Plan’s qualified status under the Internal Revenue Code. Therefore, the rollover is accepted, and The Standard is authorized to invest these funds as directed and to establish the appropriate additional accounts for the participant. Name and Title (please print) Signature

Please keep a copy of this form for your records and return the original to: Church Benefits Board 2930 Flowers Road, Suite 133A Atlanta, GA 30341

Date

Phone: (800) 352-8741 Fax: (770) 220-1661 Web: www.churchbenefits.org


Investing Form CBF 403(b) Plan YOUR INFORMATION Social Security Number

Last Name

Mailing Address

City/State/Zip

Date of Birth (mm/dd/yy)

Date of Hire (mm/dd/yy)

First Name

Phone#

Email address

WHERE DO YOU WANT TO INVEST YOUR SAVINGS The Church Benefits Board can help you manage your investments when you select a Guided Portfolio or you may also create your own Independent Portfolio. If you do not indicate where to invest your savings, your assets will be placed in the plan’s default fund(s). The decisions you make regarding your investments will stay in effect until you modify them via The Standard’s Web site at (http://retirement.standard.com) or via INFOLINE (800.858.5420). Select only one box of the Guided Portfolios below, OR select your own investments by entering whole percentages in the “Independent” column. Be sure that your selections total 100% and that the minimum any investment is 1%. This investing Form is to be used ONLY by eligible plan participants. To make changes to your current investment directive, visit (http://retirement.standard.com) or via INFOLINE (800.858.5420). Choose ONE Guided Portfolio OR create your Independent Portfolio 

Conservative

Moderately Conservative

Moderate

Moderately Aggressive

Aggressive

Independent

Fund Name

Style

Cash Equivalent The Standard Stable Asset A

Stable Value

30% 30%

20% 20%

10% 10%

0% 0%

0% 0%

Intermed-term Bond Intermed-term Bond

50% 50% 0%

40% 40% 0%

30% 30% 0%

20% 20% 0%

0% 0% 0%

Foreign Stock

13% 7% 3% 3% 0% 4% 1% 1% 2% 0% 3% 3%

26% 13% 7% 6% 0% 8% 2% 2% 4% 0% 6% 6%

39% 19% 10% 10% 0% 12% 3% 3% 6% 0% 9% 9%

52% 26% 13% 13% 0% 16% 4% 4% 8% 0% 12% 12%

65% 33% 16% 16% 0% 20% 5% 5% 10% 0% 15% 15%

Diversified EmergMrkts Mod Allocation Mod Allocation Total

0% 0% 0% 100%

0% 0% 0% 100%

0% 0% 0% 100%

0% 0% 0% 100%

0% 0% 0% 100%

Bonds Metropolitan West TotRe Bd I Vanguard Inflat Prot Sec Adm Equities Large Cap Stock Vanguard 500 Index Signal JPMorgan Large Cap Grwth R6 Vanguard Windsor II Admiral Neuberger Berman Soc Res Inv Mid/Small Cap Stock Neuberger Berman Md Cp Gr Inv Columbia Mid Cap Val Opp R4 Columbia Small Cap Value II Z Alger Small Cap Growth Institutional International Stock Thornburg International Value R5 Other DFA Emerging Mrkts Core Eq I Vanguard Wellington Inv Vanguard Balanced Indx Signl

Larger Larger Growth Larger Value Larger Blend Mid-Cap Growth Mid-Cap Value Small Value Small Growth

__

%

___ ___

% %

___ ___ ___ ___

% % % %

___ ___ ___ ___

% % % %

___

%

___ ___

% % % 100%

AUTOMATIC REBALANCER Check a box below to select the Automatic Rebalancer service for your Plan account. If you select this service, your account assets will be rebalanced to match your investment directives at the time of rebalancing. Automatic Rebalancer will remain off if you do not make a selection below.

How often would you like your account rebalanced?

 Quarterly

 Semiannually

 Annually

AUTHORIZATION I authorize my employer and the plan administrator to invest my savings as outlined on this form. I also direct my employer and the plan administrator to implement any other instructions I have provided on this form. I have read the Disclosure Statement on this form and, by signing here, I agree to be bound by its terms. The employer, trustees and any others concerned with the administration of the Plan are entitled to rely on these instructions; each shall be fully protected in taking or omitting any action under any provisions of the Plan in reliance on this information. Participant Signature Date

Disclosure Statement: You must notify The Standard within 15 days of receipt of your quarterly account statement if an error occurred, or if you requested and confirmed an investment transfer or directive change that was not completed during the period covered by the statement. You may give notice by contacting a customer service representative at 800.858.5420 or by e-mailing savings@standard.com. Unless you give such notice, The Standard will not be liable for any resulting loss to your account. In any case, The Standard will not be liable if circumstances beyond its control prevent the transaction, or if its liability is otherwise limited by regulation or agreement. Please keep a copy of this form for your records and return the original to: Church Benefits Board, 2930 Flowers Road, Suite 133A, Atlanta, GA 30341

Phone: (800) 352-8741

Fax: (770) 220-1661


Plan Fiduciary Advisor Disclosure StanCorp Advisers, Inc. and the Standard Stable Asset Fund This document contains important information about StanCorp Investment Advisers, Inc. (SIA) and how they are compensated for the investment advice provided in connection with your Plan. You should carefully consider this information in your evaluation of that advice and the investment alternatives offered in the plan. SIA will provide investment advisory services to be used by the plan for which this notice is provided. SIA will be providing these services as a fiduciary under the Employee Retirement Income Security Act. SIA, therefore, must act prudently and with only the plan’s and the plan’s participants’ interest in mind when providing recommendations on the investments to be offered. Compensation of the Fiduciary Advisor and Related Parties SIA is compensated for the advice it provides as part of a bundled service arrangement with Standard Retirement Services, Inc., an affiliate of SIA that provides recordkeeping and administrative services to the plan. SIA receives a flat fee from Standard Retirement Services to provide investment advisory services that may benefit Standard Retirement Services, Inc., retirement plan clients. SIA is not compensated on the basis of investment(s) offered by the plan, or those selected by participants. Two affiliates of SIA may provide services to the plan for which they will be compensated. These affiliates and services are: (1) Standard Retirement Services, Inc., for recordkeeping, administrative and compliance services; and (2) Standard Insurance Company, if the plan includes the Standard Stable Asset Fund as an investment option, for financial services provided as the issuer of the Standard Stable Asset Fund. Standard Insurance Company is compensated in connection with this product when general account investment returns exceed the interest credited on contract balances. Included in the return is a 0.18 percent expense associated with the investment expenses of the product. Additionally, employees of StanCorp Equities, a broker-dealer affiliate of SIA, receive additional compensation when the Standard Stable Asset Fund is included in the plan as a result of recommendations of SIA. Such employees, who are registered representatives of SIA, do not individually provide investment advice regarding the Standard Stable Asset Fund. This information should be reviewed carefully before an investment decision is made. Consider Impact of Compensation on Advice The compensation that Standard Insurance Company and representatives of StanCorp Equities, Inc., receive on account of assets invested in the Standard Stable Asset Fund may be a significant source of revenue for them. The impact of any such fees and compensation should be carefully considered in any evaluation of the Standard Stable Asset Fund as an investment option. Investment Returns

STN_SAF_Disclosure.pdf 7.14.2011

While understanding investment-related fees and expenses is important in making informed investment decisions, it is also important to consider additional information about investment options, such as performance, investment strategies and risks. Specific information related to the past performance and historical rates of return of the investment options available under the plan has been provided in the proposal materials, in the participant enrollment booklet, and is available on-line in the Personal Savings Center at http://retirement.standard.com. For options with returns that vary over time, past performance does not guarantee how an investment in the option will perform in the future; an investment in these options could lose money.

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STN_SAF_Disclosure.pdf 7.14.2011

Use of Personal Information Our Privacy Notice is attached to this disclosure. It describes the personal information that we will collect, describes how it will be used and how we will protect it. A link to the privacy notice is posted on each page of our website. Should you have any questions about StanCorp Investment Advisers or the information contained in this disclosure, you may contact the Vice President and Managing Director of StanCorp Investment Advisers, Inc., at 1100 SW Sixth Avenue, Portland, Oregon, 97204, or call #800.262.7111.

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STN_SAF_Disclosure.pdf 7.14.2011

Privacy Notice

The privacy of your personal information is important to us. To help you understand how we protect the information we receive about you, this notice describes our current privacy policy and practices. We want you to know that: s 7EDONOTSELLORRENTTHEINFORMATIONWE have about you to anyone; s 7EDONOTSHAREYOURINFORMATIONWITH outside companies for the purpose of selling their products or services to you; and s 7EDONOTOFFERARIGHTTOOPTOUTSINCE we only share information about you with others as permitted or required by law. Information We May Collect and From Whom We collect your personal information to offer you insurance and financial products and services. The type of information we collect and the extent to which it is used depends on the products and services we provide to you. For example, we may obtain information such as: s 9OURNAME ADDRESS DATEOFBIRTH telephone number, Social Security number, employment, occupation, assets and income from applications and other forms from you, your employer and others; s 9OURPOLICYCOVERAGE CLAIMS PREMIUMS and payment history from your dealings with us; s 9OURlNANCIALANDMEDICALHISTORYFROM other insurance companies, the Medical Information Bureau (“MIB”) or consumer reporting agencies, if you apply for life or disability insurance; s 9OURCURRENTANDPASTHEALTHCONDITION from medical providers or facilities, with your authorization, if you apply for life or disability insurance; and s 9OURUSEOFTHESERVICESOFFEREDON our Web sites from online information collection devices. We may request an insurance support organization to collect information that we need about you. If we do, they will submit a report to us. They may keep a copy of the

report and share its contents with others. They will do this only with appropriate authorization from you. Information We May Disclose We may share the types of information described above with others. These disclosures are only made as authorized by you or as permitted or required by law. These may include disclosures: s 4OOTHERSTHATPERFORMBUSINESSSERVICES or functions on our behalf or to serve you; s 4OEMPLOYERSANDTHEIRREPRESENTATIVES to reinsurers, to other insurance companies, and to the MIB for purposes related to insurance you may have or apply for; s 4OOTHERSTHATMAYHAVEAJOINT marketing agreement with us, unless state law restricts such use; s 4OINSURANCEDEPARTMENTSINCONNECTION with the regulation of our business; s 4OLAWENFORCEMENTAGENCIESTOHELP prevent fraud or illegal activities; s 4OGOVERNMENTAGENCIESTOCOMPLYWITH the law; s 4OAUTHORIZEDPERSONSTORESPONDTOA subpoena, warrant or other court order; and s 4OOURAFlLIATESWHOMAYPROVIDE insurance or financial products and services to you. When information about you is disclosed to others, we expect them to protect your information. We expect them to use the information only for the limited purpose for which it was shared. We do not share medical information except with your authorization or as permitted or required by law. Your Rights We want to make sure that we have accurate information about you. In general, you have the right to review your personal information that we have. If you believe that any of the information about you is not accurate, you may inform us in writing of any changes you believe should be made. We will review your request and respond to it accordingly.

Confidentiality and Security We restrict access to information about you to those employees who need to know that information to provide products or services to you. We safeguard your information through written privacy policies and physical, electronic and procedural protections. Further Information We will advise you of our privacy policy at least once a year. We may change our privacy policy at any time. As long as you remain a customer, we will inform you of any changes. If your relationship with us ends, we will continue to limit disclosures of your information in accordance with our stated privacy policy. The notice applies to: StanCorp Financial Group, Inc. Standard Insurance Company Standard Retirement Services, Inc. The Standard Life Insurance Company of New York StanCorp Mortgage Investors, LLC StanCorp Real Estate, LLC StanCorp Investment Advisers, Inc. Standard Management, Inc. StanCorp Equities, Inc. Please direct inquiries to: Privacy Notice (P7E) PO Box 711 Portland, OR 97207-0711 To get more information about StanCorp Financial Group, Inc. and its subsidiaries and/or view this notice online, visit www.stancorpfinancial.com.

9542 (6/10)

6

21


APPLICATION FOR ROLLOVER FORM Cooperative Baptist Fellowship 403(b) Plan #806561 PARTICIPANT INFORMATION Title

Last Name

First Name

Email /phone#

Middle Initial

Social Security #

Date of Birth

ROLLOVER CONTRIBUTION INFORMATION See your Summary Plan Description or Plan Administrator for your plan’s rollover provisions. I request the Plan Administrator to accept my rollover, based on the following information. The Plan Administrator reserves the right to require additional evidence that my distribution is from a qualified retirement plan, a tax sheltered annuity, a governmental 457 plan, or an IRA, as allowed by the Plan. Name of distributing plan or IRA custodian: ___________________________________________________________________ Amount $ ______________

All Eligible Accounts or

All Total Balance

The requested rollover represents: a. An eligible rollover distribution from: a qualified retirement plan a tax-sheltered annuity a governmental 457 plan b. a distribution from a traditional IRA that would otherwise be includable in my gross income. a. a distribution from a Conduit IRA which consisted solely of an eligible rollover distribution from a qualified plan and any associated earnings, for which I wish to preserve capital gains and averaging treatment. The distribution: Will be paid directly from the distributing plan to The Standard on behalf of this Plan. Is from another qualified plan; it includes after-tax contributions of $______________,which must be accounted for separately. Was paid to me on_____________________________. (The Standard must receive distribution within 60days.)

PARTICIPANT SIGNATURE I verify that the information provided above is true and complete. I understand that the Plan Administrator may choose not to accept this rollover if it would jeopardize the Plan’s tax status. I also understand that if this rollover is accepted, it will be directed to investments based on my contribution directives in place at the time the rollover is received by The Standard. If I do not have directives in place, the rollover will be deposited into the Plan’s Default Fund. Signature of Applicant

Date

PAYEE AND MAILING INSTRUCTIONS The distribution check should be payable Church Benefits Board FBO: (Participant’s Name) and mailed to: Church Benefits Board

2930 Flowers Road, Suite 133A Atlanta, GA 30341 Attention: Plan No.:806561 Plan Name: Cooperative Baptist Fellowship 403(b) Plan

PLAN ADMINISTRATOR ACCEPTANCE As an authorized representative of the Cooperative Baptist Fellowship 403(b) Plan, I certify the Plan Administrator has investigated the rollover requested above and is satisfied that it will not jeopardize this Plan’s qualified status under the Internal Revenue Code. Therefore, the rollover is accepted, and The Standard is authorized to invest these funds as directed and to establish the appropriate additional accounts for the participant. Name and Title (please print) Signature

Please keep a copy of this form for your records and return the original to: Church Benefits Board 2930 Flowers Road, Suite 133A Atlanta, GA 30341

Date

Phone: (800) 352-8741 Fax: (770) 220-1661 Web: www.churchbenefits.org


Plan Overview Cooperative Baptist Fellowship 403(b) Plan This Overview is provided as a quick reference to certain key provisions of the retirement plan. Since the plan is based on a complex legal document, the Overview does not attempt to describe every aspect of the plan or to detail all of its terms. For a more complete description of plan provisions, refer to the Summary Plan Description. If there is a conflict between this Overview and the plan, the plan's provisions will prevail.

Entering the Plan All employees are eligible to participate in the plan on the first entry date. Entry date is immediate after service requirements, if any, are met.

Participant Contributions Participants may contribute to the plan on a pre-tax or after-tax basis. These contributions, known as “elective deferrals,” must fall within the following range: Maximum

$17,000 in 2012 (additional $5,500 if age 50 or older) or maximum allowed by law, whichever is less

Other factors may further limit contributions. Traditional 403(b) contributions are made on a pre-tax basis, thus reducing your current taxable income. Your contributions and earnings grow on a tax-deferred basis and will be taxable upon distribution. You may change your contribution percentage or re-enter the plan on the first day of any future payroll period. Contact your payroll department for details. If necessary, you may stop your contributions on the first day of any payroll period with reasonable advance notice. You may also contribute a portion of your after-tax income to the plan. These “voluntary contributions” will not reduce your taxable income. Minimum and maximum allowable voluntary contributions are specified in the Summary Plan Description. Voluntary contribution limits may be reduced by other factors, including legal limits and other contributions you or your employer make to the retirement plan. Your participant contributions are 100 percent vested - which means that you own them - at all times.

Employer Contributions The plan also provides for your Church or Employer to make contributions. These employer contributions are 100 percent vested at all times.

Housing Allowance The minister’s housing allowance is an important tax benefit available to ministers under Section 107 of the Internal Revenue Code. With this plan you may be entitled to receive the minister's housing allowance benefit in retirement.

Loans You may qualify to borrow a portion of your vested account balance under the terms of the plan's Loan Policy. The Loan Policy spells out specific details and restrictions, including the amounts that you may borrow from the plan, repayment terms, loan fees and interest rates. The Loan Policy is available on the Personal Savings Center Web site at www.standard.com/retirement. We recommend that you consider other sources for your loan needs before borrowing from your retirement account.

806561 - 4

As of September 29, 2010

317


Distributions and Withdrawals A distribution from your account may be available to you or your beneficiary at: • normal retirement, which is age 65 • age 59.5 while still employed • financial hardship (as defined by the plan) • termination of employment • death or disability Additional requirements for distributions may also exist. Please review your Summary Plan Description for complete details.

Hardship Withdrawal A hardship withdrawal may be made in cases of financial need defined in the plan, provided there are no other sources available to meet the need; the withdrawal is taxable as a distribution and subject to a 10 percent early withdrawal tax penalty.

Rolling over retirement accounts Combining assets from several retirement accounts is much easier now than in the past. Plans may now accept rollovers from: • 401(k) and other qualified retirement plans • governmental deferred compensation (457) plans • tax-sheltered annuities (TSAs) and IRAs Follow the instructions on the “Application for Rollover” form available on Personal Savings Center at www.standard.com/retirement. Rollover money received by the plan will be invested according to your investment directives for new contributions. If you have received a distribution check from a retirement plan, you must complete a rollover within 60 days of receipt. If the rollover is not completed within this period, the distribution cannot be rolled over and becomes taxable income. It may also be subject to a 10 percent early withdrawal penalty.

Plan Expenses Redemption Fees - Please be aware that redemption fees may apply to transactions made in your account. It is possible to incur a redemption fee any time you sell a fund share. Transactions that may result in a redemption fee are: distributions, in-service withdrawals, loans, and fund transfers. A redemption fee is a charge upon the sale of a mutual fund share within a specified time period. A time period varies by Fund Company, but is typically assessed on shares sold within 30 to 90 days after purchase. The fee is generally 1% to 2% of the sale amount. You will see this message any time a transfer is requested through our Internet site, notifying you that these fees may apply.

Default Fund If The Standard does not receive an Investment Directive Form from you, any transferring assets and future contributions will be invested in the Vanguard Balanced Index Signal fund. You can transfer assets out of the Vanguard Balanced Index Signal fund on the Personal Savings Center Web site at http://retirement.standard.com or via the automated telephone system at 800.858.5420.

Questions If you have questions about the plan, please contact Church Benefit Board at 1-800-352-8741 or at churchbenefits@churchbenefits.org. To contact a Customer Service Representative at the plan's service partner, The Standard, e-mail savings@standard.com.

32

8 806561 - 4

As of September 29, 2010


More information about your investment options Descriptions of the plan's investment options are included in the enrollment booklet. Each description provides basic information about an option, including investment objectives, fund managers, relative risk and a snapshot of its holdings. Additional information is available through the Personal Savings Center, The Standard's Web site for retirement plan participants. 1.

Visit www.standard.com/retirement

2.

Select Personal Savings Center.

3.

Log in.

4.

Select Performance on the Investment menu at the top of the page.

This page provides performance information for all of the investment options. Click on the name of the investment option for more information about that option, including a link to the mutual fund company's Web site where you can review a prospectus.

Frequent Trading Policy Your retirement plan is intended to help you accumulate assets for your retirement. The plan and the services provided by The Standard have been designed to help support your long-term investment needs throughout your working and retirement years. The plan is not intended to facilitate frequent trades among investment options or provide “day trading� opportunities. Short-term trading adversely affects the plan's operations and increases the expenses of both the plan and the investment options. The Standard's agreements with our mutual fund alliance partners require us to adhere to trading rules established in the prospectuses. Besides normal contribution activity, generally one purchase and one redemption in an investment option during a 90-day period is considered reasonable transfer activity. Trading activity will be monitored. If excessive transfer activity is identified, we may suspend the participant's ability to execute transfers through the Personal Savings Center Web site and INFOLINE telephone system. Any transfers will have to be requested using paper forms and will be executed according to trading guidelines. This may lead to delays in the execution of requested transactions.

9 806561 - 4

As of September 29, 2010

33


How To Read A Fund Fact Sheet Example: ABC Balanced Fund (ABCBF) Morningstar Category, Rating, Return And Risk

Fund fact sheets don’t always look alike. Some include graphics, others have more facts and figures, many use different headings for the same subjects. However, most of them contain the same basic information. A fund name, “ABC Balanced Fund” in the example, often indicates the type of fund. The ticker symbol, “ABCBF” in the example, is an identifying number that can be used to do more research.

A high-level overview that includes the fund’s asset class, as well as several assessments that compare it to similar funds to obtain a “star rating” based on performance (after adjusting for risk and accounting for all sales charges), its excess return over a risk-free rate (the return of the 90-day Treasury bill), and its variations in monthly returns.

Investment Strategy A description of the fund’s aims or objectives as well as investment strategies, such as: Capital Preservation – Seeks to protect against loss of principal, uses a conservative investment approach focused on low risk Growth And Income – aims for some income and some growth, uses a moderate approach with higher risk than capital preservation Aggressive Growth – seeks capital appreciation, employs aggressive highrisk strategies aimed at higher long-term returns than the other approaches This section can include more details about investment strategies such as focusing on certain sectors of the market, or employing a bottom-up (company-by-company) approach to investing.

Volatility Analysis An attempt to quantify the risk associated with investing in the fund based on its short-term volatility relative to its long-term past performance.

Portfolio Analysis Facts and figures such as: Composition – a graphic representation of the fund’s holdings into broad asset classes such as stocks, bonds or cash. Top 5 Holdings – the top five largest holdings in the fund by company/ government agency or industry; an indicator of diversification Total Number Of Holdings – the number of holdings in the fund; an indicator of diversification (lower risk) versus concentration (higher risk) Annual Turnover Ratio % – the percentage of the investment option’s holdings that have been “turned over” or replaced with other holdings in a given year Total Fund Assets – the total amount of investor money in the fund Morningstar Style Box™ – the size and type of companies (in the case of stocks) or the length and quality of bonds, often in a grid or box that indicates its risk/return potential

STN_How_to_Read_FFS.pdf

10.17.2011

Morningstar Super Sectors – a breakdown of the fund’s assets according to Morningstar’s overarching consolidation of all industries into one of three “economic spheres”

34

10

Standard Retirement Services, Inc.


Credit Analysis: % Bonds – a depiction of the quality of bonds in the fund’s portfolio. Bonds rated AAA are considered to have the lowest default risk among issuers. Bonds rated below BBB are considered below investment grade and bonds rated B or below are considered speculative Risk Measures – uses standard deviation to measure the fund’s historical price volatility on an absolute basis. The higher the number, the more volatile the fund

Operations Fund Inception Date – The day on which a fund began offering shares Portfolio Manager/Management Company – names of the people and firms who are managing the fund and/or providing sub-advisory services

STN_How_to_Read_FFS.pdf

10.17.2011

Web Site: Web address of the fund company managing the investment option

Enroll now! www.standard.com/retirement, 800.858.5420

35 11


The Standard Stable Asset Fd A

Release Date 03-31-2012

.................................................................................................................................................................................................................................................................................................................................................... Overall Morningstar Rating™ Morningstar Return Morningstar Risk Morningstar Category

Stable Value

Investment Objective & Strategy

.

Portfolio Analysis % Assets

Composition as of 12-31-11

Morningstar Style Box™ as of 12-31-11

0.0 0.0 0.0 100.0

Med Low

Synthetic GICs Traditional GICs Cash Other

High

The Standard’s Stable Asset Fund seeks to provide liquidity and safety of principal, along with a competitive, guaranteed rate of return. The Standard invests the deposits of plan participants as part of its general account assets, which include its fixed income securities portfolio and its commercial mortgage loan portfolio. A participant’s return is determined by a declared interest rate, which is accrued daily and compounded quarterly.

.

.

Ltd

Mod

Ext

Operations

What do Stable Value Funds invest in?

Stable value funds tend to invest in high-quality bonds with short- to intermediate-term maturities. They also purchase insurance contracts which aim to provide price stability on a day-to-day basis. The horizontal axis of the Morningstar fixed-income Style Box shows duration, a measure of how the funds price will change in response to interest-rate changes. Because stable value funds insurance contracts usually prevent any fluctuations in the funds prices, these funds are insulated from interest-rate volatility and their duration is effectively zero.

Fund Inception Date Total Fund Assets ($mil) Portfolio Manager Management Company Web Site

04-01-11 60.91 Management Team Standard Insurance Company .

Volatility Analysis Risk: Below Average In the past, this investment has shown a relatively small range of price fluctuations relative to other investments. Based on this measure, currently more than two-thirds of all investments have shown higher levels of risk. Consequently, this investment may appeal to investors looking for a conservative investment strategy.

Vanguard Inflation-Protected Secs Adm VAIPX

Release Date 03-31-2012

.................................................................................................................................................................................................................................................................................................................................................... Overall Morningstar Rating™ Morningstar Return Morningstar Risk Morningstar Category

Inflation-Protected Bond

Above Average

QQQQ

Average

Out of 157 Inflation-Protected Bond funds. An investment's overall Morningstar Rating, based on its risk-adjusted return, is a weighted average of its applicable 3-, 5-, and 10-year Ratings. See disclosure for details.

Investment Objective & Strategy From investment's prospectus

Ltd Top 5 Holdings as of 12-31-11

6.29 5.71 5.11 4.77 4.58

...........................................................................................................

Total Number of Stock Holdings Total Number of Bond Holdings Annual Turnover Ratio % Total Fund Assets ($mil)

0 31 28 40,894.10

Mod

06-10-05 John Hollyer

8.37 9.40 1.83 133.75

Ext

Credit Analysis: % Bonds as of 12-31-11

AAA AA A BBB

100 0 0 0

Risk Measures as of 03-31-12

3 Yr Std Dev 3 Yr Beta 3 Yr Alpha

BB B Below B NR/NA

Management Company Web Site

0 0 0 0

Port Avg

Rel LB Aggr

Rel Cat

4.94 1.14 0.73

0.30 . .

1.02 1.08 0.67

Operations Fund Inception Date Portfolio Manager

36

% Assets

US Treasury Note 04-15-16 US Treasury Note 1.125% 01-15-21 US Treasury Bond 3.875% 04-15-29 US Treasury Bond 2.375% 01-15-25 US Treasury Note 2% 01-15-14

Avg Eff Duration Avg Eff Maturity Avg Wtd Coupon Avg Wtd Price

Low

In the past, this investment has shown a relatively small range of price fluctuations relative to other investments. Based on this measure, currently more than two-thirds of all investments have shown higher levels of risk. Consequently, this investment may appeal to investors looking for a conservative investment strategy.

Morningstar Style Box ™ as of 12-31-11

0.0 0.0 99.3 0.7 0.0

Med

Volatility Analysis Risk: Below Average

% Assets

U.S. Stocks Non-U.S. Stocks Bonds Cash Other

High

The investment seeks to provide inflation protection and income consistent with investment in inflation-indexed securities. The fund invests at least 80% of assets in inflation-indexed bonds issued by the U.S. government, its agencies and instrumentalities, and corporations. It may invest in bonds of any maturity; however, its dollar-weighted average maturity is expected to be in the range of 7 to 20 years. At a minimum, all bonds purchased by the fund will be rated “investment-grade.”

Portfolio Analysis Composition as of 12-31-11

Vanguard Group, Inc. www.vanguard.com


Metropolitan West Total Return Bond I MWTIX

Release Date 03-31-2012

.................................................................................................................................................................................................................................................................................................................................................... Overall Morningstar Rating™ Morningstar Return Morningstar Risk Morningstar Category

Intermediate-Term Bond

High

QQQQQ

Above Average

Out of 1013 Intermediate-Term Bond funds. An investment's overall Morningstar Rating, based on its risk-adjusted return, is a weighted average of its applicable 3-, 5-, and 10-year Ratings. See disclosure for details.

Investment Objective & Strategy From investment's prospectus

Ltd Top 5 Holdings as of 12-31-11

% Assets

US Treasury Note 2.125% 08-15-21 Fannie Mae US Treasury Bond 4.375% 05-15-41 FHLMC 4% 10-01-41 FHLMC 3.5% 12-01-25

4.81 2.94 2.78 1.28 1.04

...........................................................................................................

Total Number of Stock Holdings Total Number of Bond Holdings Annual Turnover Ratio % Total Fund Assets ($mil)

0 1011 228 19,456.33

Avg Eff Duration Avg Eff Maturity Avg Wtd Coupon Avg Wtd Price

Low

In the past, this investment has shown a relatively small range of price fluctuations relative to other investments. Based on this measure, currently more than two-thirds of all investments have shown higher levels of risk. Consequently, this investment may appeal to investors looking for a conservative investment strategy.

Morningstar Style Box ™ as of 12-31-11

0.0 0.0 90.3 9.0 0.7

Med

Volatility Analysis Risk: Below Average

% Assets

U.S. Stocks Non-U.S. Stocks Bonds Cash Other

High

The investment seeks to maximize long-term total return. The fund pursues its objective by investing, under normal circumstances, at least 80% of net assets in investment grade fixed income securities or unrated securities that are determined by the Adviser to be of similar quality. Up to 20% of the fund’s net assets may be invested in securities rated below investment grade. Under normal conditions, the portfolio duration is two to eight years and the dollar-weighted average maturity ranges from two to fifteen years.

Portfolio Analysis Composition as of 12-31-11

Mod

4.07 7.14 4.69 96.59

Ext

Credit Analysis: % Bonds as of 12-31-11

AAA AA A BBB

57 7 9 8

Risk Measures as of 03-31-12

3 Yr Std Dev 3 Yr Beta 3 Yr Alpha

BB B Below B NR/NA

5 3 11 0

Port Avg

Rel LB Aggr

Rel Cat

3.46 0.87 5.86

1.28 . .

0.94 0.99 1.68

Operations Fund Inception Date Portfolio Manager

Management Company

03-31-00 Tad Rivelle

Web Site

Vanguard Balanced Index Signal VBASX

Metropolitan West Asset Management, LLC. www.mwamllc.com

Release Date 03-31-2012

.................................................................................................................................................................................................................................................................................................................................................... Overall Morningstar Rating™ Morningstar Return Morningstar Risk Morningstar Category

Moderate Allocation

Above Average

QQQQ

Below Average

Out of 839 Moderate Allocation funds. An investment's overall Morningstar Rating, based on its risk-adjusted return, is a weighted average of its applicable 3-, 5-, and 10-year Ratings. See disclosure for details.

Investment Objective & Strategy From investment's prospectus

Low

% Assets

Med

In the past, this investment has shown a relatively small range of price fluctuations relative to other investments. Based on this measure, currently more than two-thirds of all investments have shown higher levels of risk. Consequently, this investment may appeal to investors looking for a conservative investment strategy.

Value Blend Growth Top 5 Holdings as of 12-31-11

High

Risk: Below Average

Morningstar Style Box™ as of 12-31-11 (EQ) ; 12-31-11 (F-I)

58.5 0.3 38.0 2.9 0.3

Small

Volatility Analysis

% Assets

U.S. Stocks Non-U.S. Stocks Bonds Cash Other

Large Mid

The investment seeks to track the performance of a broad, market-weighted bond index and a benchmark index that measures the investment return of the overall U.S. stock market. The fund employs a "passive management"-or indexing-investment approach designed to track the performance of two benchmark indexes. With approximately 60% of assets, it seeks to track the investment performance of the MSCI US Broad Market Index, which represents 99.5% or more of the total market capitalization of all U.S. common stocks. The fund also seeks to track the investment performance of the Barclays Capital U.S. Aggregate Float Adjusted Index with 40% of assets.

Portfolio Analysis Composition as of 12-31-11

Ltd

Mod

Ext

Morningstar Super Sectors as of 12-31-11

% Fund

2.47 1.74 1.58 0.93 0.90

 Cyclical

29.20

 Sensitive

44.82

 Defensive

25.98

...........................................................................................................

3 Yr Std Dev 3 Yr Beta 3 Yr Alpha

CMT Market Liquidity Rate Exxon Mobil Corporation Apple, Inc. International Business Machines Corp Chevron Corp Total Number of Stock Holdings Total Number of Bond Holdings Annual Turnover Ratio % Total Fund Assets ($mil)

3135 5063 67 16,126.93

Risk Measures as of 03-31-12

Port Avg Rel S&P 500

9.92 0.91 2.28

0.61 . .

Rel Cat

0.86 0.87 -4.56

Operations Fund Inception Date Portfolio Manager

09-01-06 Michael Perre

Management Company Web Site

Vanguard Group, Inc. www.vanguard.com

37


Vanguard Wellington Inv VWELX

Release Date 03-31-2012

.................................................................................................................................................................................................................................................................................................................................................... Overall Morningstar Rating™ Morningstar Return Morningstar Risk Morningstar Category

Moderate Allocation

High

QQQQQ

Average

Out of 839 Moderate Allocation funds. An investment's overall Morningstar Rating, based on its risk-adjusted return, is a weighted average of its applicable 3-, 5-, and 10-year Ratings. See disclosure for details.

Investment Objective & Strategy From investment's prospectus

High Med Low

In the past, this investment has shown a relatively small range of price fluctuations relative to other investments. Based on this measure, currently more than two-thirds of all investments have shown higher levels of risk. Consequently, this investment may appeal to investors looking for a conservative investment strategy.

Morningstar Style Box™ as of 12-31-11 (EQ) ; 12-31-11 (F-I)

56.3 8.6 30.9 0.8 3.4

Small

Volatility Analysis Risk: Below Average

% Assets

U.S. Stocks Non-U.S. Stocks Bonds Cash Other

Large Mid

The investment seeks to provide long-term capital appreciation and reasonable current income. The fund invests 60% to 70% of its assets in dividend-paying and, to a lesser extent, non-dividend-paying common stocks of established, medium-size and large companies. These stocks are commonly referred to as value stocks. It invests 30% to 40% of the assets in fixed income securities that the advisor believes will generate a reasonable level of current income. These securities include investment-grade corporate bonds, with some exposure to U.S. Treasury and government agency bonds, and mortgage-backed securities.

Portfolio Analysis Composition as of 12-31-11

Value Blend Growth

Ltd

Mod

Ext

Morningstar Super Sectors as of 12-31-11

% Fund

Top 5 Holdings as of 12-31-11

% Assets

Exxon Mobil Corporation AT&T Inc Chevron Corp Wells Fargo & Co Pfizer Inc

2.69 2.32 1.91 1.81 1.80

 Cyclical

26.41

 Sensitive

44.10

 Defensive

29.49

...........................................................................................................

3 Yr Std Dev 3 Yr Beta 3 Yr Alpha

Total Number of Stock Holdings Total Number of Bond Holdings Annual Turnover Ratio % Total Fund Assets ($mil)

97 768 38 61,090.20

Risk Measures as of 03-31-12

Port Avg Rel S&P 500

10.75 0.98 1.31

Rel Cat

0.66 . .

0.93 0.93 -2.62

Operations Fund Inception Date Portfolio Manager

Management Company

07-01-29 Edward P. Bousa

Web Site

Wellington Management Company, LLP www.vanguard.com

Vanguard Windsor II Adm VWNAX

Release Date 03-31-2012

.................................................................................................................................................................................................................................................................................................................................................... Overall Morningstar Rating™ Morningstar Return Morningstar Risk Morningstar Category

Large Value

Above Average

QQQQ

Average

Out of 1098 Large Value funds. An investment's overall Morningstar Rating, based on its risk-adjusted return, is a weighted average of its applicable 3-, 5-, and 10-year Ratings. See disclosure for details.

Investment Objective & Strategy From investment's prospectus

In the past, this investment has shown a relatively moderate range of price fluctuations relative to other investments. This investment may experience larger or smaller price declines or price increases depending on market conditions. Some of this risk may be offset by owning other investments with different portfolio makeups or investment strategies.

Giant

52.59

Large Medium Small

34.07 12.42 0.91

..........................................................

..........................................................

Micro

0.01

Value Blend Growth Top 5 Holdings as of 12-31-11

% Assets

Morningstar Super Sectors as of 12-31-11

% Fund

3.58 3.44 3.10 2.96 2.55

 Cyclical

25.15

 Sensitive

41.86

 Defensive

32.99

...........................................................................................................

3 Yr Std Dev 3 Yr Beta 3 Yr Alpha

ConocoPhillips Pfizer Inc International Business Machines Corp Philip Morris International, Inc. Wells Fargo & Co Total Number of Stock Holdings Total Number of Bond Holdings Annual Turnover Ratio % Total Fund Assets ($mil)

255 0 23 37,333.15

Risk Measures as of 03-31-12

Port Avg Rel S&P 500

16.77 1.03 -0.72

1.03 . .

Operations Fund Inception Date Portfolio Manager

38

% Mkt Cap

Morningstar Style Box™ as of 12-31-11

91.1 7.0 0.0 1.9 0.0

Small

Volatility Analysis Risk: Average

% Assets

U.S. Stocks Non-U.S. Stocks Bonds Cash Other

Large Mid

The investment seeks long-term capital appreciation and income. The fund invests mainly in large- and mid-capitalization companies whose stocks are considered by an advisor to be undervalued. Undervalued stocks are generally those that are out of favor with investors and that the advisor feels are trading at prices that are below average in relation to measures such as earnings and book value. These stocks often have above-average dividend yields. It uses multiple investment advisors.

Portfolio Analysis Composition as of 12-31-11

05-14-01 James P. Barrow

Management Company Web Site

Vanguard Group, Inc. www.vanguard.com

Rel Cat

0.99 1.01 0.33


Neuberger Berman Socially Resp Inv NBSRX

Release Date 03-31-2012

.................................................................................................................................................................................................................................................................................................................................................... Overall Morningstar Rating™ Morningstar Return Morningstar Risk Morningstar Category

Large Growth

Average

QQQQ

Below Average

Out of 1459 Large Growth funds. An investment's overall Morningstar Rating, based on its risk-adjusted return, is a weighted average of its applicable 3-, 5-, and 10-year Ratings. See disclosure for details.

Investment Objective & Strategy From investment's prospectus

Risk: Average In the past, this investment has shown a relatively moderate range of price fluctuations relative to other investments. This investment may experience larger or smaller price declines or price increases depending on market conditions. Some of this risk may be offset by owning other investments with different portfolio makeups or investment strategies.

% Mkt Cap

Morningstar Style Box™ as of 01-31-12

81.8 14.3 0.0 4.0 0.0

Small

Volatility Analysis

% Assets

U.S. Stocks Non-U.S. Stocks Bonds Cash Other

Large Mid

The investment seeks long-term growth of capital by investing primarily in securities of companies that meet the fund's financial criteria and social policy. The fund invests primarily in common stocks of mid- to large-capitalization companies that meet the fund's social policy. It seeks to reduce risk by investing across many different industries. The Portfolio Managers employ a research driven and valuation sensitive approach to stock selection, with a long term perspective. Although the fund invests primarily in domestic stocks, it may also invest in stocks of foreign companies.

Portfolio Analysis Composition as of 01-31-12

Giant

27.32

Large Medium Small

47.95 18.88 4.59

..........................................................

..........................................................

Micro

1.26

Value Blend Growth Top 5 Holdings as of 01-31-12

% Assets

Morningstar Super Sectors as of 01-31-12

% Fund

5.03 4.50 4.34 4.23 4.20

 Cyclical

21.37

 Sensitive

52.66

 Defensive

25.97

...........................................................................................................

3 Yr Std Dev 3 Yr Beta 3 Yr Alpha

Danaher Corporation Texas Instruments, Inc. Newfield Exploration Company Altera Corp. BG Group PLC Total Number of Stock Holdings Total Number of Bond Holdings Annual Turnover Ratio % Total Fund Assets ($mil)

33 0 20 1,932.68

Risk Measures as of 03-31-12

Port Avg Rel S&P 500

16.99 1.00 -0.86

1.05 . .

Rel Cat

0.94 0.93 0.50

Operations Fund Inception Date Portfolio Manager

Management Company

03-16-94 Arthur Moretti

Web Site

Neuberger Berman Management LLC www.nb.com

Vanguard 500 Index Signal VIFSX

Release Date 03-31-2012

.................................................................................................................................................................................................................................................................................................................................................... Overall Morningstar Rating™ Morningstar Return Morningstar Risk Morningstar Category

Large Blend

Above Average

QQQQ

Average

Out of 1578 Large Blend funds. An investment's overall Morningstar Rating, based on its risk-adjusted return, is a weighted average of its applicable 3-, 5-, and 10-year Ratings. See disclosure for details.

Investment Objective & Strategy From investment's prospectus

In the past, this investment has shown a relatively moderate range of price fluctuations relative to other investments. This investment may experience larger or smaller price declines or price increases depending on market conditions. Some of this risk may be offset by owning other investments with different portfolio makeups or investment strategies.

% Mkt Cap

Morningstar Style Box™ as of 12-31-11

99.7 0.1 0.0 0.2 0.0

Small

Volatility Analysis Risk: Average

% Assets

U.S. Stocks Non-U.S. Stocks Bonds Cash Other

Large Mid

The investment seeks to track the performance of a benchmark index that measures the investment return of large-capitalization stocks. The fund employs a passive management or indexing investment approach designed to track the performance of the Standard & Poor‘s 500 Index, which is a widely recognized benchmark of U.S. stock market performance that is dominated by the stocks of large U.S. companies. It attempts to replicate the target index by investing all, or substantially all, of its assets in the stocks that make up the index, holding each stock in approximately the same proportion as its weighting in the index.

Portfolio Analysis Composition as of 12-31-11

Giant

51.06

Large Medium Small

35.21 13.59 0.14

..........................................................

..........................................................

Micro

0.00

Value Blend Growth Top 5 Holdings as of 12-31-11

% Assets

Morningstar Super Sectors as of 12-31-11

% Fund

3.56 3.30 1.90 1.86 1.70

 Cyclical

26.81

 Sensitive

45.58

 Defensive

27.60

...........................................................................................................

3 Yr Std Dev 3 Yr Beta 3 Yr Alpha

Exxon Mobil Corporation Apple, Inc. International Business Machines Corp Chevron Corp Microsoft Corporation Total Number of Stock Holdings Total Number of Bond Holdings Annual Turnover Ratio % Total Fund Assets ($mil)

503 1 4 110,789.09

Risk Measures as of 03-31-12

Port Avg Rel S&P 500

16.23 1.00 0.01

1.00 . .

Rel Cat

0.94 0.96 0.00

Operations Fund Inception Date Portfolio Manager

09-29-06 Michael H. Buek

Management Company Web Site

Vanguard Group, Inc. www.vanguard.com

39


JPMorgan Large Cap Growth R6 JLGMX

Release Date 03-31-2012

.................................................................................................................................................................................................................................................................................................................................................... Overall Morningstar Rating™ Morningstar Return Morningstar Risk Morningstar Category

Large Growth

Investment Objective & Strategy From investment's prospectus

The volatility measure is not displayed for investments with fewer than three years of history.

Portfolio Analysis Composition as of 02-29-12

% Assets

U.S. Stocks Non-U.S. Stocks Bonds Cash Other

Morningstar Style Box™ as of 02-29-12

87.4 3.9 0.0 8.7 0.0

Small

Volatility Analysis Risk: .

.

Large Mid

The investment seeks long-term capital appreciation and growth of income by investing primarily in equity securities. The fund normally invests at least 80% of assets in equity securities of large companies with market capitalizations equal to those within the universe of the Russell 1000® Growth Index at the time of purchase. It invests in common stocks of companies with a history of above-average growth or companies expected to enter periods of above-average growth.

.

.

% Mkt Cap

Giant

39.20

Large Medium Small

44.41 16.39 0.00

..........................................................

..........................................................

Micro

0.00

Value Blend Growth Top 5 Holdings as of 02-29-12

% Assets

Morningstar Super Sectors as of 02-29-12

% Fund

8.69 7.69 2.88 2.53 2.27

 Cyclical

21.39

 Sensitive

55.14

 Defensive

23.47

...........................................................................................................

3 Yr Std Dev 3 Yr Beta 3 Yr Alpha

Jpmorgan Liquid Assets Money Market Fu 12-31-49 Apple, Inc. MasterCard Incorporated Class A International Business Machines Corp Intuitive Surgical, Inc. Total Number of Stock Holdings Total Number of Bond Holdings Annual Turnover Ratio % Total Fund Assets ($mil)

69 0 84 5,556.59

Risk Measures as of 03-31-12

Port Avg Rel S&P 500

. . .

Rel Cat

. . .

. . .

Operations Fund Inception Date Portfolio Manager

Management Company

11-30-10 Giri Devulapally

Web Site

JPMorgan Investment Advisors Inc. www.jpmorganfunds.com

Columbia Mid Cap Value Opportunity R4 RMCVX

Release Date 03-31-2012

.................................................................................................................................................................................................................................................................................................................................................... Overall Morningstar Rating™ Morningstar Return Morningstar Risk Morningstar Category

Mid-Cap Value

Above Average

QQQ

Above Average

Out of 353 Mid-Cap Value funds. An investment's overall Morningstar Rating, based on its risk-adjusted return, is a weighted average of its applicable 3-, 5-, and 10-year Ratings. See disclosure for details.

Investment Objective & Strategy From investment's prospectus

In the past, this investment has shown a wide range of price fluctuations relative to other investments. This investment may experience significant price increases in favorable markets or undergo large price declines in adverse markets. Some of this risk may be offset by owning other investments that follow different investment strategies.

% Mkt Cap

Morningstar Style Box™ as of 01-31-12

95.1 3.1 0.0 1.6 0.2

Small

Volatility Analysis Risk: Above Average

% Assets

U.S. Stocks Non-U.S. Stocks Bonds Cash Other

Large Mid

The investment seeks long-term growth of capital. The fund normally invests at least 80% of assets in equity securities of medium-sized companies whose market capitalizations at the time of purchase fall within the range of the Russell Midcap® Value Index. It may invest up to 25% of assets in foreign investments. The fund may invest up to 20% of assets in stocks of smaller or larger companies. It can invest in any economic sector and, at times, the fund may emphasize one or more particular sectors.

Portfolio Analysis Composition as of 01-31-12

Giant

2.47

..........................................................

Large Medium Small

24.47 66.06 6.13

..........................................................

Micro

0.87

Value Blend Growth Top 5 Holdings as of 01-31-12

% Assets

Morningstar Super Sectors as of 01-31-12

% Fund

3.42 3.08 2.77 2.72 2.61

 Cyclical

35.63

 Sensitive

42.17

 Defensive

22.19

...........................................................................................................

3 Yr Std Dev 3 Yr Beta 3 Yr Alpha

CIT Group Inc Cooper Industries PLC. Lorillard, Inc. Agilent Technologies Inc Eastman Chemical Company Total Number of Stock Holdings Total Number of Bond Holdings Annual Turnover Ratio % Total Fund Assets ($mil)

119 0 46 1,796.46

Risk Measures as of 03-31-12

Port Avg Rel S&P 500

21.32 1.26 -2.73

1.31 . .

Operations Fund Inception Date Portfolio Manager

40

02-14-02 Steven R. Schroll

Management Company Web Site

Columbia Management Investment Adv LLC www.columbiafunds.com

Rel Cat

1.06 1.07 2.35


Neuberger Berman Mid Cap Growth Inv NMANX

Release Date 03-31-2012

.................................................................................................................................................................................................................................................................................................................................................... Overall Morningstar Rating™ Morningstar Return Morningstar Risk Morningstar Category

Mid-Cap Growth

Average

QQQQ

Below Average

Out of 662 Mid-Cap Growth funds. An investment's overall Morningstar Rating, based on its risk-adjusted return, is a weighted average of its applicable 3-, 5-, and 10-year Ratings. See disclosure for details.

Investment Objective & Strategy From investment's prospectus

In the past, this investment has shown a relatively moderate range of price fluctuations relative to other investments. This investment may experience larger or smaller price declines or price increases depending on market conditions. Some of this risk may be offset by owning other investments with different portfolio makeups or investment strategies.

% Mkt Cap

Morningstar Style Box™ as of 01-31-12

91.2 6.0 0.0 2.8 0.0

Small

Volatility Analysis Risk: Average

% Assets

U.S. Stocks Non-U.S. Stocks Bonds Cash Other

Large Mid

The investment seeks growth of capital. The fund normally invests at least 80% of its net assets in common stocks of mid-capitalization companies, which it defines as those with a total market capitalization within the market capitalization range of the Russell Midcap Index at the time of purchase. It seeks to reduce risk by diversifying among many companies, sectors and industries. In an effort to achieve its goal, the fund may engage in active and frequent trading.

Portfolio Analysis Composition as of 01-31-12

Giant

0.00

..........................................................

Large Medium Small

20.79 69.98 9.23

..........................................................

Micro

0.00

Value Blend Growth Top 5 Holdings as of 01-31-12

% Assets

Morningstar Super Sectors as of 01-31-12

% Fund

2.12 2.02 1.83 1.77 1.71

 Cyclical

21.93

 Sensitive

59.46

 Defensive

18.61

...........................................................................................................

3 Yr Std Dev 3 Yr Beta 3 Yr Alpha

Alexion Pharmaceuticals, Inc. Fastenal Company Dollar Tree Stores, Inc. Stericycle, Inc. Ross Stores, Inc. Total Number of Stock Holdings Total Number of Bond Holdings Annual Turnover Ratio % Total Fund Assets ($mil)

102 0 49 653.52

Risk Measures as of 03-31-12

Port Avg Rel S&P 500

16.56 0.94 3.84

Rel Cat

1.02 . .

0.83 0.82 -8.73

Operations Fund Inception Date Portfolio Manager

Management Company

03-01-79 Kenneth Turek

Web Site

Neuberger Berman Management LLC www.nb.com

Columbia Small Cap Value II Z NSVAX

Release Date 03-31-2012

.................................................................................................................................................................................................................................................................................................................................................... Overall Morningstar Rating™ Morningstar Return Morningstar Risk Morningstar Category

Small Value

Average

QQQ

Average

Out of 293 Small Value funds. An investment's overall Morningstar Rating, based on its risk-adjusted return, is a weighted average of its applicable 3-, 5-, and 10-year Ratings. See disclosure for details.

Investment Objective & Strategy From investment's prospectus

In the past, this investment has shown a wide range of price fluctuations relative to other investments. This investment may experience significant price increases in favorable markets or undergo large price declines in adverse markets. Some of this risk may be offset by owning other investments that follow different investment strategies.

% Mkt Cap

Morningstar Style Box™ as of 01-31-12

95.5 1.4 0.0 3.0 0.0

Small

Volatility Analysis Risk: Above Average

% Assets

U.S. Stocks Non-U.S. Stocks Bonds Cash Other

Large Mid

The investment seeks long-term capital appreciation. The fund normally invests at least 80% of net assets in equity securities of companies that have market capitalizations in the range of the companies in the Russell 2000 Value Index at the time of purchase that the Advisor believes are undervalued and have the potential for long-term growth. It may invest up to 20% of total assets in foreign securities and also may invest in real estate investment trusts.

Portfolio Analysis Composition as of 01-31-12

Giant

0.00

..........................................................

Large Medium Small

0.00 12.67 64.71

Micro

22.62

..........................................................

Value Blend Growth Top 5 Holdings as of 01-31-12

% Assets

Morningstar Super Sectors as of 01-31-12

% Fund

3.05 1.28 1.24 1.23 1.22

 Cyclical

45.36

 Sensitive

36.79

 Defensive

17.85

...........................................................................................................

3 Yr Std Dev 3 Yr Beta 3 Yr Alpha

Columbia Short-Term Cash 12-31-14 New Jersey Resources Corporation NeuStar, Inc. CubeSmart South Jersey Industries Total Number of Stock Holdings Total Number of Bond Holdings Annual Turnover Ratio % Total Fund Assets ($mil)

128 0 60 1,796.21

Risk Measures as of 03-31-12

Port Avg Rel S&P 500

23.75 1.38 -4.00

1.46 . .

Rel Cat

1.03 1.07 3.51

Operations Fund Inception Date Portfolio Manager

05-01-02 Christian K. Stadlinger

Management Company Web Site

Columbia Management Investment Adv LLC www.columbiafunds.com

41


Alger Small Cap Growth Institutional I ALSRX

Release Date 03-31-2012

.................................................................................................................................................................................................................................................................................................................................................... Overall Morningstar Rating™ Morningstar Return Morningstar Risk Morningstar Category

Small Growth

Average

QQQ

Average

Out of 664 Small Growth funds. An investment's overall Morningstar Rating, based on its risk-adjusted return, is a weighted average of its applicable 3-, 5-, and 10-year Ratings. See disclosure for details.

Investment Objective & Strategy From investment's prospectus

In the past, this investment has shown a wide range of price fluctuations relative to other investments. This investment may experience significant price increases in favorable markets or undergo large price declines in adverse markets. Some of this risk may be offset by owning other investments that follow different investment strategies.

% Mkt Cap

Morningstar Style Box™ as of 12-31-11

92.4 4.5 0.0 3.1 0.0

Small

Volatility Analysis Risk: Above Average

% Assets

U.S. Stocks Non-U.S. Stocks Bonds Cash Other

Large Mid

The investment seeks long-term capital appreciation. The fund invests at least 80% of its net assets in equity securities of companies that, at the time of purchase of the securities, have total market capitalization within the range of companies included in the Russell 2000 Growth Index or the S&P SmallCap 600 Index, as reported by the indexes as of the most recent quarter-end. Both indexes are broad indexes of small capitalization stocks. It can also invest in derivative instruments.

Portfolio Analysis Composition as of 12-31-11

Giant

0.00

..........................................................

Large Medium Small

0.00 26.83 68.89

..........................................................

Micro

4.27

Value Blend Growth Top 5 Holdings as of 12-31-11

% Assets

Morningstar Super Sectors as of 12-31-11

% Fund

1.32 1.28 1.27 1.27 1.26

 Cyclical

26.44

 Sensitive

52.17

 Defensive

21.38

...........................................................................................................

3 Yr Std Dev 3 Yr Beta 3 Yr Alpha

Novellus Systems, Inc. Clean Harbors, Inc. Actuant Corp A Silgan Holdings, Inc. Six Flags Entertainment Corp Total Number of Stock Holdings Total Number of Bond Holdings Annual Turnover Ratio % Total Fund Assets ($mil)

122 0 71 1,199.97

Risk Measures as of 03-31-12

Port Avg Rel S&P 500

21.23 1.20 -1.31

Rel Cat

1.31 . .

0.97 0.98 1.70

Operations Fund Inception Date Portfolio Manager

Management Company Web Site

11-08-93 Jill Greenwald

Fred Alger Management, Inc. www.alger.com

Thornburg International Value R5 TIVRX

Release Date 03-31-2012

.................................................................................................................................................................................................................................................................................................................................................... Overall Morningstar Rating™ Morningstar Return Morningstar Risk Morningstar Category

Foreign Large Growth

Average

QQQQ

Below Average

Out of 210 Foreign Large Growth funds. An investment's overall Morningstar Rating, based on its risk-adjusted return, is a weighted average of its applicable 3-, 5-, and 10-year Ratings. See disclosure for details.

Investment Objective & Strategy From investment's prospectus

In the past, this investment has shown a wide range of price fluctuations relative to other investments. This investment may experience significant price increases in favorable markets or undergo large price declines in adverse markets. Some of this risk may be offset by owning other investments that follow different investment strategies.

% Mkt Cap

Morningstar Style Box™ as of 01-31-12

3.6 90.1 0.0 0.2 6.1

Small

Volatility Analysis Risk: Above Average

% Assets

U.S. Stocks Non-U.S. Stocks Bonds Cash Other

Large Mid

The investment seeks long-term capital appreciation; current income is the secondary objecive. The fund normally invests at least 75% of assets in foreign securities or depository receipts of foreign securities. It invests in promising companies, and may invest in stocks that reflect unfavorable market perceptions of the company or industry fundamentals. The fund may invest in companies of any size, but invests primarily in the large and middle capitalization range of publicly traded companies.

Portfolio Analysis Composition as of 01-31-12

Giant

74.36

Large Medium Small

23.84 1.81 0.00

..........................................................

..........................................................

Micro

0.00

Value Blend Growth Top 5 Holdings as of 01-31-12

% Assets

Sap AG Novo Nordisk A/S Standard Chartered PLC British American Tobacco PLC LVMH Moet Hennessy Louis Vuitton SA

2.62 2.56 2.47 2.42 2.41

...........................................................................................................

Total Number of Stock Holdings Total Number of Bond Holdings Annual Turnover Ratio % Total Fund Assets ($mil)

62 1 21 28,065.48

Morningstar Super World Regions as of 01-31-12

% Fund

Americas Greater Europe Greater Asia

14.15 59.94 25.92

Risk Measures as of 03-31-12

3 Yr Std Dev 3 Yr Beta 3 Yr Alpha

Port Avg Rel S&P 500

19.37 0.90 1.82

1.19 . .

Operations Fund Inception Date Portfolio Manager

42

02-01-05 William V. Fries

Management Company Web Site

Thornburg Investment Management, Inc. www.thornburg.com

Rel Cat

0.93 0.95 0.49


DFA Emerging Markets Core Equity I DFCEX

Release Date 03-31-2012

.................................................................................................................................................................................................................................................................................................................................................... Overall Morningstar Rating™ Morningstar Return Morningstar Risk Morningstar Category

Diversified Emerging Mkts

High

QQQQ

Average

Out of 354 Diversified Emerging Mkts funds. An investment's overall Morningstar Rating, based on its risk-adjusted return, is a weighted average of its applicable 3-, 5-, and 10-year Ratings. See disclosure for details.

Investment Objective & Strategy From investment's prospectus

Risk: Above Average In the past, this investment has shown a wide range of price fluctuations relative to other investments. This investment may experience significant price increases in favorable markets or undergo large price declines in adverse markets. Some of this risk may be offset by owning other investments that follow different investment strategies.

% Mkt Cap

Morningstar Style Box™ as of 01-31-12

1.0 98.6 0.0 0.1 0.3

Small

Volatility Analysis

% Assets

U.S. Stocks Non-U.S. Stocks Bonds Cash Other

Large Mid

The investment seeks long-term capital appreciation. The fund purchases a broad and diverse group of securities associated with emerging markets, which may include frontier markets (emerging market countries in an earlier stage of development), authorized for investment by the Advisor's Investment Committee ("Approved Markets"), with an increased exposure to securities of small cap issuers and securities that it considers to be value securities. It may gain exposure to companies in Approved Markets by purchasing equity securities in the form of depositary receipts, which may be listed or traded outside the issuer's domicile country.

Portfolio Analysis Composition as of 01-31-12

Giant

28.62

Large Medium Small

34.94 25.23 8.73

..........................................................

..........................................................

Micro

2.48

Value Blend Growth Top 5 Holdings as of 01-31-12

% Assets

Samsung Electronics Co Ltd Gazprom OAO ADR Petroleo Brasileiro SA Petrobras ADR Vale SA ADR Petroleo Brasileiro SA Petrobras ADR

1.95 1.49 1.28 1.06 1.02

...........................................................................................................

Total Number of Stock Holdings Total Number of Bond Holdings Annual Turnover Ratio % Total Fund Assets ($mil)

3432 0 1 7,569.93

Morningstar Super World Regions as of 01-31-12

% Fund

Americas Greater Europe Greater Asia

22.92 16.09 60.99

Risk Measures as of 03-31-12

3 Yr Std Dev 3 Yr Beta 3 Yr Alpha

Port Avg Rel S&P 500

26.85 1.16 7.66

Rel Cat

1.65 . .

1.06 1.07 1.39

Operations Fund Inception Date Portfolio Manager

04-05-05 Karen E. Umland

Management Company Web Site

Dimensional Fund Advisors LP www.dimensional.com

43


Important Disclosures A redemption fee may apply to short-term investments. The Standard charges fees in addition to those charged by the Fund. Investments are subject to market risks and fluctuate in value. Past performance is no guarantee of future results. Plan sponsors and participants should carefully consider the investment objectives, risks, charges and expenses of the investment options offered under the retirement plan before investing. The prospectuses for the individual mutual funds contain this and other important information. Prospectuses may be obtained by calling 877.805.1127. Please read the prospectus carefully before investing. NOT A DEPOSIT – NOT FDIC INSURED – NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY – NOT GUARANTEED BY THE INSTITUTION – MAY GO DOWN IN VALUE Morningstar Rating™ Often simply called the Star Rating, the Morningstar Rating brings load-adjustments, performance (returns) and risk together into one evaluation. To determine a fund’s star rating for a given time period (three, five, or 10 years), the fund's risk-adjusted return is plotted on a bell curve: If the fund scores in the top 10% of its category, it receives 5 stars (Highest); if it falls in the next 22.5% it receives 4 stars (Above Average); a place in the middle 35% earns 3 stars (Average); those lower still, in the next 22.5%, receive 2 stars (Below Average); and the bottom 10% get only 1 star (Lowest). The Overall Morningstar Rating is a weighted average of the available three-, five-, and 10-year ratings. Morningstar Return This statistic is a measurement of a fund’s excess return over a risk-free rate (the return of the 90-day Treasury bill), after adjusting for all applicable loads and sales charges. In each Morningstar Category, the top 10% of funds earn a High Morningstar Return, the next 22.5% Above Average, the middle 35% Average, the next 22.5% Below Average, and the bottom 10% Low. Morningstar Return is measured for up to three time periods (three-, five-, and 10-years). These separate measures are then weighted and averaged to produce an overall measure for the fund. Funds with less than three years of performance history are not rated. Morningstar Risk This statistic evaluates the variations in a fund’s monthly returns, with an emphasis on downside variations. In each Morningstar Category, the 10% of funds with the lowest measured risk are described as Low Risk, the next 22.5% Below Average, the middle 35% Average, the next 22.5% Above Average, and the top 10% High. Morningstar Risk is measured for up to three time periods (three-, five-, and 10-years). These separate measures are then weighted and averaged to produce an overall measure for the fund. Funds with less than three years of performance history are not rated.

NAVdisclosure.pdf 7.14.2011

Risk Measures R-squared reflects the percentage of a fund’s movements that are explained by movements in its benchmark index,

44

showing the degree of correlation between the fund and the benchmark. Beta is a measure of a fund’s sensitivity to market movements. A portfolio with a beta greater than 1 is more volatile than the market, and a portfolio with a beta less than 1 is less volatile than the market. Alpha measures the difference between a fund’s actual returns and its expected performance, given its level of risk (as measured by beta). Sharpe ratio uses standard deviation and excess return to determine reward per unit of risk. Standard deviation is a statistical measure of the volatility of the fund’s returns. Morningstar Style Box™ The Morningstar Style Box reveals a fund’s investment strategy. For equity funds and fixed-income funds respectively, the vertical axis shows the market capitalization of the stocks owned or the average credit quality of the bonds owned. The horizontal axis shows investment style (value, blend, or growth) or interest rate sensitivity as measured by a bond’s duration (short, intermediate or long). Duration is a measure of interest-rate sensitivity-the longer a fund’s duration, the more sensitive the fund is to shifts in interest rates. Investment Risk Foreign Securities Funds/Emerging Markets Funds: Funds that invest in foreign securities involve special additional risks. These risks include, but are not limited to, currency risk, political risk, and risk associated with varying accounting standards. Investing in emerging markets may accentuate these risks. Sector Funds: Funds that invest exclusively in one sector or industry involve additional risks. The lack of industry diversification subjects the investor to increased industry-specific risks. Non-Diversified Funds: Funds that invest more of their assets in a single issuer involve additional risks, including share price fluctuations, because of the increased concentration of investments. Small Cap Funds: Funds that invest in stocks of small companies involve additional risks. Smaller companies typically have a higher risk of failure, and are not as well established as larger blue-chip companies. Historically, smaller-company stocks have experienced a greater degree of market volatility than the overall market average. Mid Cap Funds: Funds that invest in companies with market capitalizations below $10 billion involve additional risks. The securities of these companies may be more volatile and less liquid than the securities of larger companies. High-Yield Bond Funds: Funds that invest in lower-rated debt securities (commonly referred to as junk bonds) involve additional risks because of the lower credit quality of the

©2009 Morningstar, Inc., Morningstar Investment Profiles™ 312-696-6000. 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 information. Past performance is no guarantee of future performance. Visit our investment website at www.morningstar.com.

securities in the portfolio. The investor should be aware of the possible higher level of volatility, and increased risk of default. The investor should also be aware that as interest rates rise, bond prices will fall. Funds that invest in Derivatives: Funds that invest in derivatives are subject to a number of risks, such as liquidity risk, interest rate risk, market risk, credit risk, and management risk. A Fund investing in a derivative instrument could lose more than the principal amount invested, as stated in the Fund's prospectus. Real Estate Funds: Real estate investment funds are subject to risks, such as market forces, that may affect the values of their underlying real estate assets.


Return Address Line 1 2930 Flowers Road South Suite 133A Atlanta, GA 30341

PHONE 800.858.5420 between 5 a.m. and 5 p.m. Pacific time, 8 a.m and 8 p.m. Eastern

WEBSITE www.standard.com/retirement

Standard Retirement Services, Inc. 1100 SW Sixth Avenue Portland, OR 97204 800.858.5420 www.standard.com/retirement 806561 (06/04/2012)

NMC-ENG-FENR

00001001_E_000001_ABC123


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