Your Guide to
Retirement Savings
MDRS Holdings, Inc. 401(k) Profit Sharing Plan
Enrollment Guide
Offered by:
Lagos Wealth Advisors
1320 Valley Vista Drive Suite 202
Diamond Bar, CA 91765
Phone: (714) 940­0888
Email: 401k@lagosadvisors.com
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Congratulations!
MDRS Holdings, Inc is pleased to welcome you to the MDRS
Holdings, Inc. 401(k) Profit Sharing Plan. The Plan is designed to help
you save and invest for retirement. It's one way to thank you for
contributing to our success.
This guide walks you through the enrollment process and the benefits of our Plan in particular. Starting
your retirement planning today, offers more choices for your life tomorrow. There is no time like the
present to get started!
Your Next Steps:
1. Review this Enrollment Guide.
2. Enroll in our Plan by logging into our Plan's website,
https://www.pcsretirement.com/login.
We want to help!
For more information about our Plan's investment options, please contact our Plan's advisor, Lagos
Wealth Advisors of Lagos Wealth Advisors at (714) 940­0888 or 401k@lagosadvisors.com. If you have
questions about your account or our Plan's website, please contact a service representative at (888)
621­5491. We are available 24 hours a day, 7 days a week, to assist you with your needs.
We hope that you will take full advantage of this important benefit.
About PCS, The Plan's Recordkeeper
Consistently recognized as one of the fastest growing independent record keepers in the country, PCS
Retirement, LLC (PCS) was founded by tax and ERISA attorneys to provide sophisticated retirement
programs for the corporate, professional and governmental markets. PCS is a conflict­free independent
retirement plan platform, offering a vast menu of investments free from proprietary funds and conflicts of
interest. PCS has consistently made the Inc. 5000 list of fastest growing privately held companies. PCS
was awarded a “AAA” rating from Roland|Criss for Superior Quality Management System and Strongest
Fiduciary Support Safety!* PCS is also certified by CEFEX (The Centre for Fiduciary Excellence) as
adhering to the American Society of Pension Professionals & Actuaries' (ASPPA) standard of practice for
recordkeepers.**
*Certified in 2022
**Certified in 2022
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Table of Contents
Getting started is easy!
Enrolling is as easy as 1, 2, 3
Page 5
Retirement plan basics
Why you need to start saving today
Top retirement plan mistakes and how to avoid them
Page 8
Retirement needs
How much do I still need to save?
Page 12
Risk profile: Choosing the right path
How should I invest my retirement savings?
What are my investment options?
Page 13
Important notices
Qualified Default Investment Alternative Notice
Annual Participant Disclosure
Page 17
Forms
Investment Election Worksheet
Contribution Election Worksheet
Beneficiary Designation Worksheet
Page 28
Plan investments
Information about each investment option
Page 33
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Getting Started is Easy!
Step 1:
Register for Web Access
Go to https://www.pcsretirement.com/login and select Register for web access to set up online
access. You will need your social security number, legal last name, date of birth, and current zip code.
Your Account Security is important to us!
To safeguard your personal information, we use Multi­factor Authentication (MFA) for increased
account security. With MFA, we periodically send a OneTime PIN to your mobile phone, or email.
Step 2:
Setup Your Account
Review and confirm your personal information. Make sure your personal and contact information is
correct. Provide any missing information if needed.
Step 3:
Select Beneficiaries
Your primary beneficiary is your first choice to receive retirement benefits in the event of your death. You
can name more than one person or entity as your primary beneficiary. If you are married, your spouse
must consent to any change. If your primary beneficiary doesn't survive you or decides to decline the
benefits, then your secondary (or "contingent") beneficiaries will receive your benefits.
Step 4:
Setup Your Contribution
Determine if you want it to be a percentage or dollar amount each pay period, as allowed by the plan. Use
the retirement savings calculator to determine the tax advantage of making contributions.
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Getting Started is Easy!
Step 5:
Investment Election
Choose your investments and your allocations. Make sure your allocation percentage totals 100%
before proceeding. For information about available investments, see page 14 of this enrollment guide.
Step 6:
Confirmation
In this final step, you should review all the information you have entered for accuracy. You can edit
any information here before you confirm. You will not be able to confirm until all other steps have been
completed.
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Getting Started is Easy!
We give you the tools and support you
need to be ready for retirement.
Need help determining if you're on track for retirement?
Find out with our RetireOnTime™ retirement readiness tool!
RetireOnTime™ provides you a quick snapshot of your
retirement projections and where you stack up against your
retirement goal. This powerful tool also allows you to
customize your income goals and your post­retirement
investments to determine if you are on track to achieve your
ideal retirement income.
Want to consolidate retirement accounts?
Try our Rollover Wizard!
Our Rollover Wizard makes consolidation easy! After logging on to
https://www.pcsretirement.com/login, simply click "Rollover
Contributions", found under the Account Transactions tab, to get
started!
Wealth Studio is a modern, and mobile­optimized financial
wellness offering that helps plan participants rock their
finances! It is easily integrated into the overall participant
retirement plan website, provides detailed metrics, addresses
different learning styles and preferred communication methods,
and allows participants flexibility in their experience by the way
they engage and interact.
I'm enrolled in the Plan.
Now what?
Now that you're enrolled,
learn the benefits of contributing.
Being enrolled into the plan is just the first step toward being ready
for retirement. The following pages will show you the benefits of
regularly contributing to your plan, including tax savings and
compound growth.
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Retirement Plan Basics
Participating in the Plan offers you the potential to pay less in taxes.
• Your contributions may lower your taxable income, and may
even put you in a lower tax bracket.
• Assets in your account can grow tax deferred.
• If your plan allows for Roth contributions and you elect this
option, you won't get an up front tax­deduction but your
account (both contributions and earnings) can grow tax­free
and withdrawals taken during retirement are not subject to
income tax once you are 59­1/2 and you have held the
account for five years or more.
Contributions to your
retirement plan can
reduce your taxable
income, and may
lower your current
federal income taxes.
Here's an example:
Bob is single and earns an annual income of $50,000. He contributes $200/month to his retirement plan.
Bob will pay $578 less in federal income taxes than if he did not contribute to his retirement plan!
Bob's Federal Tax*
Bob's taxable income before contributing:
$50,000
Annual pre­tax contributions ($200 x 12):
$2,400
Bob's taxable income after contributing:
$47,600
$6,754
$6,226
*Based on 2021 tax rates.
Enjoy federal tax savings on your contributions.
The table below shows you the estimated federal tax savings
based on a 6% contribution rate for different income levels.
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Taxable
Income
% of
Annual
Income
Monthly
Contributions
Annual
Contributions
Tax Savings
$15,000
6%
$75
$900
$133
$20,000
6%
$100
$1,200
$178
$30,000
6%
$150
$1,800
$268
$40,000
6%
$200
$2,400
$578
$50,000
6%
$250
$3,000
$728
$60,000
6%
$300
$3,600
$878
$70,000
6%
$350
$4,200
$1,028
$80,000
6%
$400
$4,800
$1,178
See how much
you can save!
8
Retirement Plan Basics (continued)
Compounding earnings will help your savings grow.
Earnings on investments in your account also grow tax­deferred until you begin taking withdrawals, thus
compounding your account's growth over time.
The value of $1,000 compounded at various rates of return over time as follows:
Years
4%
6%
8%
10%
10
$1,481
$1,791
$2,159
$2,594
20
$2,191
$3,207
$4,661
$6,728
30
$3,243
$5,743
$10,063
$17,449
Example
If Lisa saved $500/month for 30 years, and earned an average tax­deferred annual return of 5% she
would end up with $417,863. Lisa's contributions would be $180,000 and the rest of her account –
$237,863 – would be compounded earnings.
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Retirement Plan Basics (continued)
Why you need to start saving today.
Everyone dreams of a retirement free from
financial worries. In spite of what you may hear,
a financially secure retirement is possible, but
proper planning and preparation are essential.
It's a fact ­ the earlier you begin saving, the better off you'll be when you retire. One thing is for sure,
retirement plans don't work unless you take advantage of them. So start saving today!
Try to divert as much of your earnings into savings as you can. If you don't have a budget, create
one. If you do have a budget, revise it to reflect your new commitment to saving, as well as any
recent changes in your spending. Chip away at wasteful habits such as expensive dinners or unused
gym memberships.
More great reasons to join the plan:
Cut your taxes.
Remember that your retirement plan contributions are
tax­deferred, which means you don't pay taxes on the
money in your account until you take it out –– usually,
when you're retired and possibly in a lower tax bracket.
Invest automatically.
Your contributions are deducted right from your
paycheck and go directly into your account before taxes
are withheld –– so you may barely miss the money.
Get more bang for your buck.
If you contribute the same amount of money regularly,
you're using an investment strategy called "dollar cost
averaging."
This method averages out the price you pay for the
investments in your account, so you're buying more
when the price is lower and less when the price is higher
–– giving you better buying power. Compound earnings
will help your savings grow.
Portability.
Your savings continue to grow tax­deferred when you
retire or leave the Plan.
Sophisticated investment support.
When you join the plan, you gain access to the support
of the plan’s financial advisor who can help you to learn
about the investments that are available to you.
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Retirement Plan Basics (continued)
Why you need to start saving today.
1
Not Participating
Did you know that 21% of those eligible don't contribute to their retirement plan.1 Are you one of them?
OUR SUGGESTION. Get started with small contributions. Worried that you can't afford it? You might be
surprised about how little it takes since contributions are made on a pre­tax basis. Participating may have
less of an impact on your take home pay than putting money into a traditional savings account.
2
No Planned Savings Goal
Without a plan, you run the risk of not having enough to support your desired lifestyle when you retire, or
you may even outlive your retirement assets. To have the retirement of your dreams, take time to
understand your retirement goals and develop a plan to achieve them.
OUR SUGGESTION. Create a plan. Even if you already contribute to the retirement plan, you might not
be contributing enough to achieve your goals. We can help! Log onto the Plan's website and and click on
RetireOnTime™ under Learning Center to evaluate different scenarios to help you achieve your
retirement goals.
3
Poor Diversification
Ever heard of asset allocation? That simply means looking at your age, risk tolerance and goals to
determine the mixture of stocks, bonds and cash for your portfolio. Asset allocation can help you diminish
investment risk, but keep in mind that you may need to rebalance your portfolio periodically in response to
changing needs and investment performance. Keep in mind, asset allocation doesn't assure a profit and
doesn't protect against loss.
OUR SUGGESTION. Diversify. Fortunately, the Plan offers 40 investment options designed to offer
diversification across multiple asset classes. The investment lineup is carefully constructed and monitored
by Lagos Wealth Advisors.
4
Chasing Performance
Some investors make the mistake of chasing investments in the latest "hot" sector. This is a race they're
bound to lose. If you're thinking of joining the chase, remember that research shows that asset allocation
determines more than 90% of the long­term return of a portfolio.2
OUR SUGGESTION. Consider a fund(s) from the carefully selected investment lineup constructed under
the watchful eye of Lagos Wealth Advisors. Keep looking at the long term. Review your investments at
least once per year to make sure it is aligned with investment objectives and to help you determine if you
need to make adjustments.
5
Cashing in Before Retirement
Many people cash out their retirement plan when they change jobs. It's not worth it. This can cause the
money to lose its tax­deferred status and subject it to income taxes and a possible early withdrawal
penalty — all of which means having less money for retirement.
OUR SUGGESTION.One option among many to consider is rolling your other retirement accounts into
this plan.By combining your accounts you have the ability to view all account activity in one place, receive
only one statement, preserve the tax­deferred status of the investments and potentially more easily
manage and diversify your assets.
1
2
PCS
Source: PSCA's Annual Survey of Profit Sharing and 401(k) Plans, 2014.
Source: Brinson, Hood, and Beebower (1986); Brinson, Singer, and Beebower (1991).
11
Retirement Needs
How much do I still need to save?
Determine how much money you will need to
contribute to reach your retirement savings goal.
It's important to make realistic estimates about what kind of expenses you will have in retirement. Many
experts* believe financial security in retirement requires you replacing 60%­80% of your current annual
income, adjusted for inflation.
One way to begin estimating your retirement costs is to take a close look at your current expenses in
various categories, and then estimate how they will change. For example, your mortgage might be paid
off by then, but keep in mind that your health care costs are likely to rise.
"If I can save more, should I?" If you were to speak to a financial advisor, "As much as you can" is the
standard answer. Many financial planners recommend that you save 10% to 15% of your income for
retirement, starting in your 20's. But that's just a general guideline.
How much you will need at retirement depends on you:
• At what age do you intend to retire?
• What type of lifestyle do you intend to live? (Will your spending really go down?)
• Are you married or single?
• Will you have dependents? (For example, helping with your grandchildren's education?)
Example: 25 years of investing different dollar amounts:
$300,000
$250,000
$200,000
$150,000
$100,000
$50,000
$0
Compound Earnings
Your Contributions
$100
per month
$200
per month
$300
per month
This calculation assumes an annual return of 5%. Past performance is not a guarantee of future results.
*Source: Social Security Administration, Social Security Basic Facts, 2022.
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Risk Profile: Choosing the Right Path
How should I invest my retirement savings?
The Plan has a number of investment options from which you can choose to invest your retirement
savings. These include model portfolios and individual mutual funds. Detailed information is contained in
this guide. Review it very carefully and consult the Plan's financial advisor if you have any questions
before you invest.
Choosing the right asset allocation is imperative when building your investment strategy. Focusing on
asset allocation means determining how you will divide your portfolio among different asset classes:
Historic risk and return of 3 different
types of investments:
CASH*
BONDS*
STOCKS*
RETURN
3.6%
RETURN
5.1%
RETURN
10.3%
STANDARD
DEVIATION
STANDARD
DEVIATION
STANDARD
DEVIATION
(RISK)
3.4%
(RISK)
8.3%
(RISK)
19.7%
LOWER
RISK
MODERATE
RISK
HIGHER
RISK
Why diversify your portfolio?
Diversifying your portfolio means owning different
types of investments. The idea is to balance your
money among different asset classes to help reduce
risk (measured by volatility or value fluctuation) in
your investment portfolio.
Standard deviation is a statistical measure of the
historic volatility of a mutual fund or portfolio. More
generally, it is a measure of the extent to which
numbers are spread around their average. The wider
the dispersion, the larger the standard deviation.
*Data provided for the period from 1926­2021 by Center of Research
Security Pricing. Cash represented by 1­month TBills; Bonds
represented by 5 Year Treasury; Stocks represented by S&P 500
stocks. Past performance is not a guarantee of future results. For
hypothetical illustration only. Diversification does not guarantee a profit
or protect against loss.
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Risk Profile: Choosing the Right Path
Build your own portfolio do-it-yourself retirement planning.
Are you the type of person who wants to be actively involved in the research, selection and management
of your retirement account? If that is the case, constructing your own portfolio mix from the available
funds and handling the asset allocation yourself may be for you.
The Plan offers the following individual funds:
Fund Name
Symbol
Category Name
BlackRock EAFE Equity Index Fund CL 1
BlackRock Equity Index Fund CL 1
BlackRock U.S. Debt Index Fd CL 1
Core Plus Bond Fund CL R1
DFA Inflation­Protected Securities I
Fidelity® Mid Cap Index
Fidelity® Small Cap Index
flexPATH Index Agg 2025 Fund CL R1
flexPATH Index Agg 2035 Fund CL R1
flexPATH Index Agg 2045 Fund CL R1
flexPATH Index Agg 2055 Fund CL R1
flexPATH Index Agg 2065 Fund CL R1
flexPATH Index Agg Retire Fund CL R1
flexPATH Index Cons 2025 Fund CL R1
flexPATH Index Cons 2035 Fund CL R1
flexPATH Index Cons 2045 Fund CL R1
flexPATH Index Cons 2055 Fund CL R1
flexPATH Index Cons Retire Fund CL R1
flexPATH Index Mod 2025 Fund CL R1
flexPATH Index Mod 2035 Fund CL R1
flexPATH Index Mod 2045 Fund CL R1
flexPATH Index Mod 2055 Fund CL R1
flexPATH Index Mod 2065 Fd Fee Cl R1
flexPATH Index Mod Retire Fund CL R1
Franklin Utilities R6
International Growth Fund CL R
Janus Henderson Glb Tech and Innovt N
JPMorgan Emerging Markets Equity R6
Large Cap Value Fund CL R1
Mid Cap Growth R1
Mid Cap Value Fund Fee Class R1
Neuberger Berman Real Estate R6
PGIM High Yield R6
PIMCO International Bond (USD­Hdg) Instl
Reliance MetLife Series 25053 Cl 0
Small Cap Growth Fund II Fee Class R1
Small Cap Value Fund II CL R1
T. Rowe Price Financial Services I
T. Rowe Price Health Sciences I
Wilmington Trust Franklin DynaTech CL R1
WBRELX
WBREOX
WBRUOX
WTLRQX
DIPSX
FSMDX
FSSNX
WFIABX
WTLRAX
WFIADX
WFIAEX
WFIAIX
WFIARX
WFICBX
WFICCX
WFICDX
WFICEX
WFICRX
WFIMBX
WFIMCX
WFIMDX
WFIMEX
WFIAMX
WFIMRX
FUFRX
WTIWKX
JATNX
JEMWX
WTLRNX
WMCAUX
WAAAGX
NRREX
PHYQX
PFORX
MACXS
WSGFBX
WSCABX
TFIFX
THISX
WTIXGX
Foreign Large Blend
Large Blend
Intermediate Core Bond
Intermediate Core­Plus Bond
Inflation­Protected Bond
Mid­Cap Blend
Small Blend
Target­Date 2025
Target­Date 2035
Target­Date 2045
Target­Date 2055
Target­Date 2065+
Target­Date Retirement
Target­Date 2025
Target­Date 2035
Target­Date 2045
Target­Date 2055
Target­Date Retirement
Target­Date 2025
Target­Date 2035
Target­Date 2045
Target­Date 2055
Target­Date 2065+
Target­Date Retirement
Utilities
Foreign Large Growth
Technology
Diversified Emerging Mkts
Large Value
Mid­Cap Growth
Mid­Cap Value
Real Estate
High Yield Bond
Global Bond­USD Hedged
Stable Value
Small Growth
Small Value
Financial
Health
Large Growth
Please consider the investment objectives, risks, fees, and expenses carefully before investing. For this and other important
information about investments offered through your Plan, you may obtain prospectuses for registered investment company choices
and/or disclosure documents from the participant website or from your Plan's advisor. Read them carefully before investing.
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14
Please consider the investment objectives, risks, fees, and expenses carefully before investing. For this and other important
information about investments offered through your Plan, you may obtain prospectuses for registered investment company choices
and/or disclosure documents from the participant website or from your Plan's advisor. Read them carefully before investing.
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Risk Profile: Choosing the Right Path
What if I don't choose an investment option?
If you do not choose a specific investment, your savings will be invested in the Plan's default investment
fund.
Remember - Your investments should:
1. Reflect the level of risk you can tolerate.
2. Fit with your investment time frame.
3. Have investment objectives that match your own.
For information on each investment's objectives and goals, please refer to the
investment's fact sheet and prospectus.
Starting to save for retirement is easy, and possibly the best thing you
can do for your financial future.
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Important Notices
Please review the following information and retain it for your future reference.
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MDRS Holdings, Inc. 401(k) Profit Sharing Plan ("Plan")
QUALIFIED DEFAULT INVESTMENT ALTERNATIVE NOTICE
FOR THE PLAN YEAR BEGINNING JANUARY 1, 2023
This notice advises you that you have the right to direct the investment of your existing assets and future
contributions on your behalf. You may invest your account in any of the investment choices offered under the
Plan. You can make an election regarding how your account should be invested in a number of ways:
By calling a Participant Services Representative at 888-621-5491, or
By logging onto the AccountLink System website www.PCSretirement.com.
If No Investment Elections for Contributions are Made
If you do not choose investment options as described above, any contributions made to the Plan on your
behalf will be invested in a Qualified Default Investment Alternative (“QDIA” or “default investment”)
selected by the Plan’s Investment Committee and investment advisor. You may transfer out of the default
investment during the first 90 days of investment without restriction and without incurring a financial penalty
or fee. After the 90-day period ends, any restrictions, fees and expenses that are charged to participants who
otherwise elect to invest in the QDIA may apply. If you do not take any action to transfer out of the default
investment, your existing account balance attributable to previous default investments and your future
contributions for which no investment direction is provided by you will automatically be invested in the
default investment described below.
The QDIA that will be used for your default assets will be the investment that corresponds to your birthdate
and a normal retirement age of 65 years old.
• flexPATH Index Mod Retirement Fund R1 (Date of Birth: 1/1/1900 - 12/31/1957) - Each flexPATH
strategy seeks to provide long-term investors with an asset allocation strategy designed to maximize assets
for retirement consistent with the risk level and projected retirement date associated with each fund. The
Funds are designed to automatically adjust their risk over time in order to reduce the risk of investment
inequity securities and shift from a focus on capital appreciation to one of capital preservation, while
maintaining some exposure to capital appreciation asset classes.
Fees and expenses: 0.12% is the internal expense ratio as of 09/30/2022.
• flexPATH Index Mod 2025 Fund Cl R1 (Date of Birth: 1/1/1958 - 12/31/1964) - Each flexPATH strategy
seeks to provide long-term investors with an asset allocation strategy designed to maximize assets for
retirement consistent with the risk level and projected retirement date associated with each fund. The Funds
are designed to automatically adjust their risk over time in order to reduce the risk of investment inequity
securities and shift from a focus on capital appreciation to one of capital preservation, while maintaining
some exposure to capital appreciation asset classes.
Fees and expenses: 0.13% is the internal expense ratio as of 09/30/2022.
• flexPATH Index Mod 2035 Fund Cl R1 (Date of Birth: 1/1/1965 - 12/31/1974) - Each flexPATH strategy
seeks to provide long-term investors with an asset allocation strategy designed to maximize assets for
retirement consistent with the risk level and projected retirement date associated with each fund. The Funds
are designed to automatically adjust their risk over time in order to reduce the risk of investment inequity
securities and shift from a focus on capital appreciation to one of capital preservation, while maintaining
some exposure to capital appreciation asset classes.
Fees and expenses: 0.13% is the internal expense ratio as of 09/30/2022.
• flexPATH Index Mod 2045 Fund Cl R1 (Date of Birth: 1/1/1975 - 12/31/1984) - Each flexPATH strategy
seeks to provide long-term investors with an asset allocation strategy designed to maximize assets for
retirement consistent with the risk level and projected retirement date associated with each fund. The Funds
are designed to automatically adjust their risk over time in order to reduce the risk of investment inequity
securities and shift from a focus on capital appreciation to one of capital preservation, while maintaining
some exposure to capital appreciation asset classes.
Fees and expenses: 0.13% is the internal expense ratio as of 09/30/2022.
• flexPATH Index Mod 2055 Fund Cl R1 (Date of Birth: 1/1/1985 - 12/31/2100) - Each flexPATH strategy
seeks to provide long-term investors with an asset allocation strategy designed to maximize assets for
retirement consistent with the risk level and projected retirement date associated with each fund. The Funds
are designed to automatically adjust their risk over time in order to reduce the risk of investment inequity
securities and shift from a focus on capital appreciation to one of capital preservation, while maintaining
some exposure to capital appreciation asset classes.
Fees and expenses: 0.13% is the internal expense ratio as of 09/30/2022.
Even if some or all of your account balance is invested in the default investment, you have the continuing
right to direct the investment of your account in one or more of the other investment choices available under
the Plan. You can obtain further investment information about all of the Plan’s investment alternatives or
change your investment options by logging onto the website www.PCSretirement.com or by calling a
Participant Services Representative at 888-621-5491.
2022 ANNUAL PARTICIPANT DISCLOSURE
MDRS Holdings, Inc. 401(k) Profit Sharing Plan
MDRS Holdings, Inc ("Plan Sponsor"), is providing you with specific information about the MDRS Holdings, Inc. 401(k) Profit Sharing Plan
("Plan") to assist you in managing your Plan account.
Give your mailbox a break, save a tree–sign up for e­Delivery:
As an added benefit, PCS Retirement, LLC generally provides notices, statements, and transaction confirmations electronically. If you
haven't already done so and prefer having your mail sent electronically, log on to your retirement account at
https://www.pcsretirement.com/login. Then click Forms & Reports, select Statements/e­Delivery, and then select the radio button
indicating that you elect e­Delivery of statements and confirmations. It takes just a few minutes to choose e­Delivery.
This notice includes important information to help you compare the investment options in the Plan. If you want additional information about
your Plan account, you can visit https://www.pcsretirement.com/login or contact a PCS Retirement, LLC Participant Services Representative at
(888) 621­5491. For investment education questions or if you would like information on the Plan's investment options, please contact the Plan's
Advisor, Lagos Wealth Advisors, at (714) 940­0888. Please contact Lagos Wealth Advisors with any investment questions or changes in your
financial situation or objectives. A paper copy of the investment and expense information available on the website can be obtained by
contacting a Participant Services Representative.
This document has three sections. Section I consists of general plan information. Section II consists of performance and other information for
the Plan's investment options. Section III consists of additional disclosure information.
Section I. General Plan Information
as of January 1, 2022
Part A. How to Direct Your Plan Investments
You have the responsibility to direct (exercise control) over the investment of your entire Plan account without restriction. Pursuant to Section
404(c) of the Employee Retirement Income Security Act of 1974 (ERISA), the fiduciaries of the Plan may be relieved of liability, or
responsibility, for any losses that you may experience as a result of your investment decisions. You can direct your investments using either of
the convenient methods listed below. For a list of the designated investment alternatives offered in the Plan, please refer to the complete
investment information contained in Section II of this notice.
Online. Log on to your account at https://www.pcsretirement.com/login anytime. If you have not signed up for secure online account
access, go to https://www.pcsretirement.com/login and select Register for web access to set up online access. You will need your social
security number, legal last name, date of birth, and current zip code.
By phone. Participant Services Representatives are available at (888) 621­5491, 24 hours a day, 7 days a week.
Transaction requests (e.g., a contribution, exchange, or redemption) must be in good order. Good order means that PCS Retirement, LLC has
determined that (1) your transaction request includes complete information, and (2) appropriate assets are already in your Plan account or new
assets have been received.
PCS Retirement, LLC, as the Plan's recordkeeper, will determine the necessary processing timeframes for your transaction request before
submission to Mid Atlantic Trust Company, our Plan's custodian.
Your transaction will be based on the net asset value (NAV) of the investment's shares, as follows: If your transaction request is received by
PCS Retirement, LLC in good order on a business day before the close of regular trading on the New York Stock Exchange (NYSE) (generally
4 p.m. Eastern Time), the transaction will be based upon NAV at the close of business on that trade date. If your transaction request is received
in good order while the NYSE is not open for regular business, your transaction will be based on the NAV the next business date.
If your transaction involves one or more investments with an early cutoff time for processing or another trading restriction, all transactions may
be subject to that cutoff time when the trade date for your transaction is determined. If an early cutoff time applies to an investment available in
the Plan, please review the next section for additional information. You may not cancel any transaction request once processing has begun.
Please be careful when placing a transaction request.
Voting or tender rights. In the event voting, tender, or other similar rights must be executed with respect to any of the Plan's investments,
MDRS Holdings, Inc or other Plan fiduciary may exercise those rights (where applicable), or you may receive written notification regarding the
actions that must be taken on your part in connection with exercising those rights.
Part B. Limitations on Your Ability to Direct Investments
Changes to your investment choices. Subject to the frequent­trading policy, you may change your Plan investment choices by either of the
convenient methods listed above.
Frequent­trading policy. Because excessive transactions can disrupt the management of an investment and increase its transaction costs,
certain Plan investments indicated in Section II of this Notice may limit exchanges and other transactions (such restrictions, if applicable, are
indicated). The frequent­trading policy does not apply to the following: rebalances or reallocation of an investment product (Model, Collective
Investment Fund, etc.) initiated by Lagos Wealth Advisors, if applicable; exchanges of shares purchased with participant payroll or employer
contributions or loan repayments; exchanges of shares purchased with reinvested dividend or capital gains distributions; distributions, loans,
and in­service withdrawals from the Plan; redemptions of shares as part of a plan termination or at the direction of the Plan; redemptions of
shares to pay fund or account fees; share or asset transfers or rollovers; re­registrations of shares within the same investment; conversions of
shares from one share class to another in the same investment. Note your Plan's investment funds reserve the right to revise or terminate the
exchange privilege (your ability to move money between investments), limit the amount of any exchange, or reject any exchange at any time,
without notice.
Part C. Administrative Expenses
There are administrative expenses associated with operating the Plan. Administrative expenses typically include items as such as
recordkeeping, participant website access, participant statements, trading and investment support, Plan compliance services (including
third­party administration, legal and accounting services) and investment advisory and financial professional services.
No proprietary investments are utilized, no commissions are paid to service providers, and all service providers have an agreement with the
Plan Sponsor specifically detailing the services provided and the compensation earned for those services.
Use of mutual fund reimbursements and forfeitures
In order to reduce investment expenses and avoid conflicts of interest or other bias in selecting investments, to the extent revenue is collected
from some or all of the Plan’s designated investment alternatives, the Plan’s recordkeeper, PCS Retirement, LLC, fully discloses and allocates
100% of such revenue to offset expenses for third­party administration, investment advisory, recordkeeping, investment support and custodial
services. To the extent such collected revenue exceeds Plan expenses, it will be reallocated to participant accounts. You will find the operating
expenses of the Plan's investment options, along with any applicable savings over the category average, under Section II. Part B of this
Disclosure. In addition, the forfeitures of the non­vested Plan account balances of former participants may be used to offset certain Plan
Sponsor contributions.
Quarterly Administrative Expense Deducted From Participant Accounts: 0.1488 %
Estimated Quarterly Administrative Expense:
Estimated account balance
Quarterly administrative expense (0.1488
%)*
Total estimated quarterly administrative
expense
$10,000
$20,000
$14.88
$29.77
$14.88
$29.77
Estimated Quarterly Administrative Expense = (Account balance x 0.1488 %) + ($0.00 x per participant)
*For additional information, please see Additional Administrative Expense Information in Section III
Part D. Individual Expenses
Your account will be subject to additional fees if you require one of the services below. Please also review your account statement for a
detailed disclosure of the dollar amount charged to your Plan account for these services and a description of the services to which these fees
relate.
Service
Description
Fee
Loan setup
An origination fee that will be deducted from the loan proceeds for each loan issued from your
account.
$200*
Loan maintenance
An annual maintenance fee that is deducted from your account balance for each loan maintained in
your account.
$0
Distribution
Distribution fee will be charged to your Plan account for distribution processing and tax reporting.
$200*
Recurring Distribution
Fee will be charged annually to your Plan account for setup, distribution processing, and tax
reporting in the event you request a recurring distribution.
$50.00
Qualified domestic
relations order (QDRO)
segregation
To segregate your account and create an account for the alternate payee.
$50.00
Hardship Processing Fee
Fee will be charged to your Plan account in the event that you request a payment to be
stopped/reissued.
Hardship distribution fee will be charged to your account for hardship distribution processing and
tax reporting.
Required Minimum
Distribution Fee
RMD distribution fee will be charged to your account for required minimum distribution
processing and tax reporting.
$200
Transaction fees
No Transaction fees are assessed for any purchase or sales of securities trades initiated through the
recordkeeper
$0
Automated delivery of
quarterly participant
statement
The handling and processing cost for automated delivery of a paper statement.See Your Right to
Receive Paper Copies of Your Quarterly Participant Statement in Section III of this notice.
$3.50
Stop payment/reissue
$25.00
$200
First
Notification
$1.50
Additional
Notifications
in the same
mailing
$1.00
Annual
participant
disclosure
$2.00
Automated delivery of
required participant
fiduciary notices
The handling and processing cost for the automated paper delivery of a required fiduciary
notification is $1.50 for the first notification and $1.00 for each additional required notification
delivered as part of the same mailing. The handling and processing cost for the annual participant
disclosure (ERISA 404(a)(5) notice) is $2.00. To the extent participants receive required
notifications and do not have a sufficient account balance to cover the cost, such costs are either
paid by the plan sponsor or allocated among the accounts of remaining participants.
Participant address search
The Plan Sponsor has a duty to take all reasonable means to locate a participant to fulfill the Plan
Sponsor’s fiduciary obligations under ERISA. Accordingly, a $10.00 fee will be charged to your
Plan account for a locator service to find your current address in the event that you cannot be
located.
$10.00
Postage
Postage is charged as incurred with respect to these services.
As Incurred
*A $25.00 manual processing charge will be assessed for the submission of a paper form to the extent the submission can be completed online.
Section II. Investment Performance and Expense Information
Fiduciary Advisor. The Plan's fiduciary advisor is Lagos Wealth Advisors.
Designated investment alternatives.
A designated investment alternative is an investment option made available to you under the Plan into which you can invest a portion or all of
your Plan account. A list of the Plan's designated investment alternatives, along with each option's performance, benchmark and expense
information, is included below.
This section includes important information to help you compare the investment options under your retirement plan. If you want additional
information about your investment options, please log on to your Plan account at (https://www.pcsretirement.com/login) and select
"Performance" on the menu bar or contact a Participant Services Representative at (888) 621­5491. A paper copy of the investment and
expense information available on the website can be obtained by contacting a Participant Services Representative.
Part A. Performance Information
Table 1 focuses on the performance of investment options. The performance data shown represents past performance, which is not a guarantee
of future results. Investment returns and principal value will fluctuate, so investors' shares, when sold, may be worth more or less than their
original cost. Current performance may be lower or higher than the performance data cited.
Detailed information about each investment option is available on the participant website (https://www.pcsretirement.com/login). Simply log in
(see above for login information if you have not logged in already), and select "Performance" on the menu bar, select "Investment Information"
and click on the investment option for which you would like additional information.
TABLE 1b ­ VARIABLE RETURN INVESTMENTS
Average Annual Total Return
as of December 31, 2022
Name
Inception
Date
Funds
1 yr.
5 yr.
10 yr.
Since
Inception
Diversified Emerging Mkts
JPMorgan Emerging Markets Equity R6
12/23/2013
­25.61 %
0.08 %
2.70 %
3.73 %
N/A
­20.09 %
­1.40 %
1.44 %
N/A
11/29/2016
­10.83 %
8.76 %
12.34 %
11.23 %
N/A
­10.15 %
6.24 %
12.03 %
N/A
8/14/2017
­13.92 %
1.92 %
N/A
3.13 %
N/A
­16.00 %
0.88 %
3.80 %
N/A
International Growth Fund CL R
6/28/2019
­31.96 %
1.71 %
5.73 %
1.18 %
MSCI ACWI Ex USA Growth NR USD
N/A
­23.05 %
1.49 %
4.68 %
N/A
MSCI EM NR USD (Best Fit)
Financial
T. Rowe Price Financial Services I
S&P 1500 Financials TR (Best Fit)
Foreign Large Blend
BlackRock EAFE Equity Index Fund CL 1
MSCI ACWI Ex USA NR USD
Foreign Large Growth
Global Bond­USD Hedged
PIMCO International Bond (USD­Hdg) Instl
12/2/1992
­9.84 %
0.72 %
2.61 %
6.18 %
N/A
­18.08 %
­2.66 %
­1.30 %
N/A
3/23/2016
­12.08 %
11.21 %
16.00 %
12.78 %
N/A
­5.18 %
11.68 %
14.76 %
N/A
10/31/2011
­11.34 %
2.77 %
4.36 %
5.24 %
N/A
­11.09 %
2.28 %
3.99 %
N/A
9/18/2006
­12.22 %
2.06 %
1.04 %
3.59 %
N/A
­11.85 %
2.11 %
1.12 %
N/A
8/14/2017
­13.05 %
0.02 %
1.06 %
0.10 %
N/A
­13.01 %
0.02 %
1.06 %
N/A
Core Plus Bond Fund CL R1
11/29/2019
­14.62 %
N/A
N/A
­3.19 %
Bloomberg US Universal TR USD
N/A
­12.99 %
0.18 %
1.33 %
N/A
7/24/2017
­18.11 %
9.45 %
12.23 %
10.43 %
N/A
­19.13 %
9.13 %
12.37 %
N/A
5/28/2020
­39.76 %
N/A
N/A
­1.57 %
N/A
N/A
N/A
N/A
­2.81 %
N/A
N/A
13.07 %
N/A
N/A
N/A
N/A
9/8/2011
­17.28 %
7.10 %
10.95 %
11.60 %
N/A
­17.32 %
7.10 %
10.96 %
N/A
3/2/2020
­37.07 %
N/A
N/A
1.34 %
N/A
N/A
N/A
N/A
­0.82 %
N/A
N/A
11.13 %
N/A
N/A
N/A
N/A
3/15/2013
­26.98 %
5.21 %
6.93 %
6.63 %
N/A
­25.55 %
3.74 %
6.29 %
N/A
Fidelity® Small Cap Index
9/8/2011
­20.27 %
4.22 %
9.17 %
10.19 %
Russell 2000 TR USD (Best Fit)
N/A
­20.43 %
4.13 %
9.01 %
N/A
Bloomberg Global Aggregate TR Hdg USD (Best Fit)
Health
T. Rowe Price Health Sciences I
Morningstar US Health TR USD (Best Fit)
High Yield Bond
PGIM High Yield R6
Morningstar US HY Bd TR USD (Best Fit)
Inflation­Protected Bond
DFA Inflation­Protected Securities I
Bloomberg US Treasury US TIPS TR USD (Best Fit)
Intermediate Core Bond
BlackRock U.S. Debt Index Fd CL 1
Bloomberg US Agg Bond TR USD
Intermediate Core­Plus Bond
Large Blend
BlackRock Equity Index Fund CL 1
Russell 1000 TR USD
Large Growth
Wilmington Trust Franklin DynaTech CL R1
Russell 1000 Growth TR USD
N/A
Large Value
Large Cap Value Fund CL R1
Russell 1000 Value TR USD
12/10/2018
N/A
Mid­Cap Blend
Fidelity® Mid Cap Index
Russell Mid Cap TR USD (Best Fit)
Mid­Cap Growth
Mid Cap Growth R1
Russell Mid Cap Growth TR USD
N/A
Mid­Cap Value
Mid Cap Value Fund Fee Class R1
Russell Mid Cap Value TR USD
12/1/2020
N/A
Real Estate
Neuberger Berman Real Estate R6
Morningstar US Real Est TR USD (Best Fit)
Small Blend
Small Growth
Small Cap Growth Fund II Fee Class R1
Russell 2000 Growth TR USD
8/3/2020
­38.70 %
N/A
N/A
­6.12 %
N/A
­26.36 %
3.51 %
9.20 %
N/A
5/20/2020
­14.27 %
N/A
N/A
24.42 %
N/A
N/A
N/A
N/A
7/30/1999
2.49 %
2.53 %
2.51 %
4.14 %
N/A
3.09 %
1.71 %
1.36 %
N/A
5/2/2016
­16.00 %
3.87 %
N/A
6.06 %
N/A
­17.58 %
3.20 %
5.79 %
N/A
5/2/2016
­14.32 %
2.37 %
N/A
3.84 %
Small Value
Small Cap Value Fund II CL R1
N/A
Russell 2000 Value TR USD
Stable Value
Reliance MetLife Series 25053 Cl 0
USTREAS T­Bill Cnst Mat Rate 3 Yr
Target­Date 2025
flexPATH Index Agg 2025 Fund CL R1
Morningstar Lifetime Mod 2025 TR USD
flexPATH Index Cons 2025 Fund CL R1
Morningstar Lifetime Mod 2025 TR USD
flexPATH Index Mod 2025 Fund CL R1
Morningstar Lifetime Mod 2025 TR USD
N/A
­17.58 %
3.20 %
5.79 %
N/A
5/18/2015
­15.29 %
3.11 %
N/A
3.97 %
N/A
­17.58 %
3.20 %
5.79 %
N/A
5/2/2016
­15.46 %
3.16 %
N/A
5.08 %
Target­Date 2035
flexPATH Index Cons 2035 Fund CL R1
Morningstar Lifetime Mod 2035 TR USD
flexPATH Index Mod 2035 Fund CL R1
Morningstar Lifetime Mod 2035 TR USD
flexPATH Index Agg 2035 Fund CL R1
Morningstar Lifetime Mod 2035 TR USD
N/A
­17.75 %
3.97 %
7.14 %
N/A
5/18/2015
­16.73 %
4.28 %
N/A
5.13 %
N/A
­17.75 %
3.97 %
7.14 %
N/A
5/2/2016
­10.48 %
N/A
N/A
­0.95 %
N/A
­17.75 %
3.97 %
7.14 %
N/A
5/2/2016
­18.28 %
5.34 %
N/A
8.00 %
N/A
­17.06 %
4.58 %
7.70 %
N/A
5/2/2016
­16.83 %
4.24 %
N/A
6.73 %
N/A
­17.06 %
4.58 %
7.70 %
N/A
5/18/2015
­17.95 %
5.15 %
N/A
5.97 %
N/A
­17.06 %
4.58 %
7.70 %
N/A
5/2/2016
­18.33 %
5.38 %
N/A
8.03 %
N/A
­16.93 %
4.55 %
7.59 %
N/A
5/2/2016
­18.21 %
5.28 %
N/A
7.96 %
Target­Date 2045
flexPATH Index Agg 2045 Fund CL R1
Morningstar Lifetime Mod 2045 TR USD
flexPATH Index Cons 2045 Fund CL R1
Morningstar Lifetime Mod 2045 TR USD
flexPATH Index Mod 2045 Fund CL R1
Morningstar Lifetime Mod 2045 TR USD
Target­Date 2055
flexPATH Index Agg 2055 Fund CL R1
Morningstar Lifetime Mod 2055 TR USD
flexPATH Index Cons 2055 Fund CL R1
Morningstar Lifetime Mod 2055 TR USD
flexPATH Index Mod 2055 Fund CL R1
Morningstar Lifetime Mod 2055 TR USD
N/A
­16.93 %
4.55 %
7.59 %
N/A
5/18/2015
­18.33 %
5.37 %
N/A
6.17 %
N/A
­16.93 %
4.55 %
7.59 %
N/A
N/A
N/A
N/A
­16.42 %
­16.98 %
4.46 %
7.49 %
N/A
1.60 %
1.86 %
1.66 %
1.51 %
N/A
­16.98 %
4.46 %
7.49 %
N/A
5/2/2016
­15.45 %
3.08 %
N/A
4.58 %
N/A
­12.24 %
2.95 %
3.82 %
N/A
5/2/2016
­13.96 %
2.12 %
N/A
3.07 %
N/A
­12.24 %
2.95 %
3.82 %
N/A
5/18/2015
­14.68 %
2.61 %
N/A
3.28 %
N/A
­12.24 %
2.95 %
3.82 %
N/A
1/27/2017
­37.54 %
10.33 %
15.32 %
14.29 %
N/A
­28.97 %
10.45 %
13.75 %
N/A
5/1/2013
1.88 %
9.14 %
10.41 %
9.02 %
N/A
1.65 %
9.19 %
10.97 %
N/A
Target­Date 2065+
flexPATH Index Agg 2065 Fund CL R1
1/18/2022
N/A
Morningstar Lifetime Mod 2060 TR USD
flexPATH Index Mod 2065 Fd Fee Cl R1
4/11/2022
Morningstar Lifetime Mod 2060 TR USD
Target­Date Retirement
flexPATH Index Agg Retire Fund CL R1
Morningstar Lifetime Mod Incm TR USD
flexPATH Index Cons Retire Fund CL R1
Morningstar Lifetime Mod Incm TR USD
flexPATH Index Mod Retire Fund CL R1
Morningstar Lifetime Mod Incm TR USD
Technology
Janus Henderson Glb Tech and Innovt N
MSCI ACWI Growth NR USD (Best Fit)
Utilities
Franklin Utilities R6
Morningstar US Util TR USD (Best Fit)
If no 5­ or 10­ year record is available, the return is since inception.
Part B. Fee and Expense Information
Table 2 shows Total Annual Operating Expenses and short­term redemption fees, if applicable, for the Plan's investment options, as well as the
average expenses charged by mutual funds, collective investment funds, and exchange­traded funds in the applicable funds' asset category.
TABLE 2 ­ FEES AND EXPENSES
Total Annual
Operating Expense
Fund List
As a
%
Category Average
Expense
Per
$1,000
As a
%
Savings
Over
Category
Diversified Emerging Mkts
JPMorgan Emerging Markets Equity R6
0.79 %
$7.90
1.05 %
0.26 %
0.76 %
$7.60
1.17 %
0.41 %
0.05 %
$0.50
0.30 %
0.25 %
0.48 %
$4.80
0.53 %
0.05 %
0.51 %
$5.10
0.62 %
0.11 %
0.65 %
$6.50
0.86 %
0.21 %
0.38 %
$3.80
0.76 %
0.38 %
0.11 %
$1.10
0.51 %
0.40 %
0.04 %
$0.40
0.21 %
0.17 %
0.29 %
$2.90
0.32 %
0.03 %
0.02 %
$0.20
0.21 %
0.19 %
0.40 %
$4.00
0.39 %
­0.01 %
0.29 %
$2.90
0.37 %
0.08 %
0.03 %
$0.30
0.83 %
0.80 %
0.50 %
$5.00
0.54 %
0.04 %
0.47 %
$4.70
0.59 %
0.12 %
0.75 %
$7.50
0.90 %
0.15 %
0.03 %
$0.30
0.87 %
0.84 %
0.64 %
$6.40
0.61 %
­0.03 %
0.59 %
$5.90
0.53 %
­0.06 %
0.61 %
$6.10
0.62 %
0.01 %
flexPATH Index Agg 2025 Fund CL R1
0.13 %
$1.30
0.33 %
0.20 %
flexPATH Index Cons 2025 Fund CL R1
0.13 %
$1.30
0.33 %
0.20 %
flexPATH Index Mod 2025 Fund CL R1
0.13 %
$1.30
0.33 %
0.20 %
Financial
T. Rowe Price Financial Services I
Foreign Large Blend
BlackRock EAFE Equity Index Fund CL 1
Foreign Large Growth
International Growth Fund CL R
Global Bond­USD Hedged
PIMCO International Bond (USD­Hdg) Instl
Health
T. Rowe Price Health Sciences I
High Yield Bond
PGIM High Yield R6
Inflation­Protected Bond
DFA Inflation­Protected Securities I
Intermediate Core Bond
BlackRock U.S. Debt Index Fd CL 1
Intermediate Core­Plus Bond
Core Plus Bond Fund CL R1
Large Blend
BlackRock Equity Index Fund CL 1
Large Growth
Wilmington Trust Franklin DynaTech CL R1
Large Value
Large Cap Value Fund CL R1
Mid­Cap Blend
Fidelity® Mid Cap Index
Mid­Cap Growth
Mid Cap Growth R1
Mid­Cap Value
Mid Cap Value Fund Fee Class R1
Real Estate
Neuberger Berman Real Estate R6
Small Blend
Fidelity® Small Cap Index
Small Growth
Small Cap Growth Fund II Fee Class R1
Small Value
Small Cap Value Fund II CL R1
Stable Value
Reliance MetLife Series 25053 Cl 0
Target­Date 2025
Target­Date 2035
flexPATH Index Cons 2035 Fund CL R1
0.13 %
$1.30
0.33 %
0.20 %
flexPATH Index Mod 2035 Fund CL R1
0.13 %
$1.30
0.33 %
0.20 %
flexPATH Index Agg 2035 Fund CL R1
0.13 %
$1.30
0.33 %
0.20 %
flexPATH Index Agg 2045 Fund CL R1
0.13 %
$1.30
0.33 %
0.20 %
flexPATH Index Cons 2045 Fund CL R1
0.13 %
$1.30
0.33 %
0.20 %
flexPATH Index Mod 2045 Fund CL R1
0.13 %
$1.30
0.33 %
0.20 %
flexPATH Index Agg 2055 Fund CL R1
0.13 %
$1.30
0.33 %
0.20 %
flexPATH Index Cons 2055 Fund CL R1
0.13 %
$1.30
0.33 %
0.20 %
flexPATH Index Mod 2055 Fund CL R1
0.13 %
$1.30
0.33 %
0.20 %
flexPATH Index Agg 2065 Fund CL R1
0.13 %
$1.30
0.28 %
0.15 %
flexPATH Index Mod 2065 Fd Fee Cl R1
0.13 %
$1.30
0.28 %
0.15 %
flexPATH Index Agg Retire Fund CL R1
0.13 %
$1.30
0.33 %
0.20 %
flexPATH Index Cons Retire Fund CL R1
0.13 %
$1.30
0.33 %
0.20 %
flexPATH Index Mod Retire Fund CL R1
0.12 %
$1.20
0.33 %
0.21 %
0.67 %
$6.70
0.85 %
0.18 %
0.50 %
$5.00
0.81 %
0.31 %
Target­Date 2045
Target­Date 2055
Target­Date 2065+
Target­Date Retirement
Technology
Janus Henderson Glb Tech and Innovt N
Utilities
Franklin Utilities R6
The Total Annual Operating Expense ("TAOE") is made up of the expense ratio in the most recent prospectuses available as of the date of printing. The TAOE reflects the net expense ratio of
the fund after any expense waiver or cap is applied. Please refer to the Plan investment fact sheets for details, including gross expenses, in the enrollment guide located under the Learning
Center section on https://www.pcsretirement.com/login.
In deciding how to invest your retirement savings, you should take into account all of your assets, including any retirement savings outside of
the Plan. No single approach is right for everyone because, among other factors, individuals have different financial goals, different time
horizons for meeting their goals, and different tolerances for risk. It is also important to periodically review your investment portfolio, your
investment objectives, and the investment options under the Plan to help ensure that your retirement savings will meet your retirement goals.
The cumulative effect of fees and expenses can substantially reduce the growth of your retirement savings. Fees and expenses are only one of
many factors to consider when you decide to invest in an option. You may also want to think about whether an investment in a particular
option, along with your other investments, will help you achieve your financial goals.
Visit the Department of Labor's website for an example showing the long­term effect of fees and expenses at
https://www.dol.gov/sites/dolgov/files/EBSA/about%2Debsa/our%2Dactivities/resource%2Dcenter/publications/a%2Dlook%2Dat%2D401k%2Dplan%2Dfees.pdf.
Section III. Additional Disclosure Information
Good faith compliance.
PCS Retirement, LLC , Plan Sponsor and Investment Manager have acted in good faith in complying with the participant disclosure
requirements as set forth under ERISA § 404(a)(5) and U.S. Department of Labor (DOL) Field Assistance Bulletin (FAB) 2012­2R. The
information contained within this disclosure reflects good faith compliance efforts based on guidance issued at the time this document was
prepared.
Your right to receive paper copies of your quarterly participant statement.
Participant statements are available electronically on https://www.pcsretirement.com/login, where you can generate an "on­demand" statement
of your Plan account for any applicable date range. You have the right to request a paper copy of your quarterly statement free of charge at any
time by contacting a Participant Services Representative. Quarterly account statements are delivered "free of charge" if you elect e­Delivery or
the Plan Sponsor elects e­Delivery.
Additional administrative expense information.
For consistency purposes and to ensure that all quarterly fees are accounted for, this fee is calculated based on Plan assets and participant totals
as of December 31, 2021 against the following fees: investment advisory services (0.1375 % of Plan assets applied pro rata); custodial services
(0.0118 % of Plan assets applied pro rata).
Please note that while this notice is intended to constitute a good faith explanation of the administrative expenses which may be charged, some
administrative expenses not yet anticipated may be allocated to your Plan account. Any amount charged directly to your account for
administrative expenses will be disclosed on your quarterly participant statement, if applicable.
Reliance on third parties for information.
Where applicable, the General Plan Information described in Section I and Investment Performance and Expense Information described in
Section II in this document were prepared using information provided to the Recordkeeper by one or more third parties. Although the
Recordkeeper believes this information to be accurate and complete, it makes no representation as to the accuracy or completeness of the
information. For detailed information regarding each designated investment alternative, please refer to the applicable prospectus.
Performance disclosures.
Performance returns should be viewed in the context of the broad market and general economic conditions prevailing during the periods
covered by the performance information. Performance does not reflect the deduction of service provider fees, such as investment advisor(s),
recordkeeper, TPA, and custodian, which would reduce a client's return by the amount of these fees. For example, if such fees totaled 1% per
annum, they would reduce a 10% per annum model portfolio return to 9% per annum. Given the effects of compounding of these fees, the
difference between the performance of the actual client account with fees versus the gross­of­fee performance shown here would continue to
increase over longer periods of time, resulting in actual client performance that is lower, on a compounded basis, than model performance
shown here. The performance reflected herein assumes that all dividends or distributions paid on the securities held in the model portfolios
were retained and reinvested, rather than distributed, during the period covered. The analysis in this report may be based, in part, on adjusted
historical returns for periods prior to one or more the model's underlying funds' actual inception. For mutual funds, these calculated returns
reflect the historical performance of the oldest share class of the fund, adjusted to reflect the fees and expenses of this share class. All
investments involve the risk of potential investment losses as well as the potential for investment gains. Comparisons to index benchmarks
have limitations because benchmarks have volatility and other material characteristics that may differ from the Model. Also, performance
results for benchmarks do not reflect payment of investment management/incentive fees and other fund expenses. Performance results do not
reflect investment results of any individual client. For reasons including variances in Model account holdings, variances in the investment
management fee incurred, market fluctuation, the date on which a participant invests in a Model, and any contributions or withdrawals, the
performance of a specific participant's account may vary from the results shown. Performance data quoted represents past performance. Past
performance does not guarantee future results. Investment return and the principal value of an investment will fluctuate. An Investor's shares,
when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data
quoted. To obtain performance data current to the most recent month­end, please visit the participant website at
https://www.pcsretirement.com/login.
Please visit https://www.pcsretirement.com/login for a glossary of investment terms relevant to the investment options under
this plan. This glossary is intended to help you better understand your choices.
Forms
The following forms and worksheets are for your convenience.
Please feel free to contact Participant Services at (888) 621­5491 if you need assistance.
PCS
28
MDRS Holdings, Inc. 401(k) Profit Sharing Plan
Investment Election Worksheet
This worksheet contains a list of your Plan's investment options. Additional information regarding each option, including
internal expenses, past performance and short­term redemption fees, can be found online at
https://www.pcsretirement.com/login. Once you have determined your investment elections, please log into the Plan's website
https://www.pcsretirement.com/login to record your elections.
Please note all investment elections and investment election changes must be made through the website or by contacting a
Participant Services Representative at (888) 621­5491.
INDIVIDUAL FUNDS
_____%
DFA Inflation­Protected Securities I (DIPSX)
_____%
_____%
Fidelity® Small Cap Index (FSSNX)
_____%
_____%
Franklin Utilities R6 (FUFRX)
_____%
_____%
_____%
_____%
_____%
_____%
_____%
_____%
_____%
_____%
_____%
_____%
_____%
_____%
_____%
_____%
_____%
_____%
_____%
JPMorgan Emerging Markets Equity R6
(JEMWX)
Neuberger Berman Real Estate R6 (NRREX)
PIMCO International Bond (USD­Hdg) Instl
(PFORX)
T. Rowe Price Health Sciences I (THISX)
BlackRock EAFE Equity Index Fund Cl 1
(WBRELX)
BlackRock U.S. Debt Index Fund Cl 1
(WBRUOX)
flexPATH Index Aggressive 2025 Fund Clas
(WFIABX)
flexPATH Index Aggressive 2045 Fund Clas
(WFIADX)
flexPATH Index Aggressive Retirement Fun
(WFIARX)
flexPATH Index Conservative 2025 Fund Cl
(WFICBX)
flexPATH Index Conservative 2045 Fund Cl
(WFICDX)
flexPATH Index Conservative Retirement F
(WFICRX)
flexPATH Index Moderate 2025 Fund Class
(WFIMBX)
flexPATH Index Moderate 2045 Fund Class
(WFIMDX)
flexPATH Index Moderate Retirement Fund
(WFIMRX)
Mid Cap Growth (WMCAUX)
Small Cap Value II (American Century SCV
(WSCABX)
Wilmington Small Cap Growth Fund II
(WSGFBX)
Fidelity® Mid Cap Index (FSMDX)
flexPATH Index Agg 2065 Fund CL R1
(WFIAIX)
Janus Henderson Glb Tech and Innovt N
(JATNX)
_____%
Large Cap Value Fund CL R1 (WTLRNX)
_____%
PGIM High Yield R6 (PHYQX)
_____%
Reliance MetLife Series 25053 Cl 0 (MACXS)
_____%
Wilmington Franklin DynaTech CIT R1
(WTIXGX)
_____%
BlackRock Equity Index Fund Cl 1 (WBREOX)
_____%
Core Plus Bond ­ R1 (WTLRQX)
_____%
_____%
_____%
_____%
_____%
_____%
_____%
_____%
flexPATH Index Aggressive 2035 Fund Clas
(WTLRAX)
flexPATH Index Aggressive 2055 Fund Clas
(WFIAEX)
flexPATH Index Cons 2065 Fund CL R1
(WFIALX)
flexPATH Index Conservative 2035 Fund Cl
(WFICCX)
flexPATH Index Conservative 2055 Fund Cl
(WFICEX)
flexPATH Index Mod 2065 Fund CL R1
(WFIAMX)
flexPATH Index Moderate 2035 Fund Class
(WFIMCX)
flexPATH Index Moderate 2055 Fund Class
(WFIMEX)
_____%
Foreign Large Growth (WTIWKX)
_____%
Mid Cap Value Fund Fee Class R1 (WAAAGX)
_____%
T. Rowe Price Financial Services I (TFIFX)
_____% Total (Individual Funds)
You may elect any combination of Individual Funds as long as each investment election is at least 5.00% of your account and
are in increments of 1.00%.
PCS
Contribution Election Worksheet
This
containsthe
theamount
amountand
and
type
contribution
would
like
to change.
you determined
have determined
how
youlike
would
This worksheet
worksheet contains
type
of of
thethe
contribution
youyou
would
like to
change.
OnceOnce
you have
how you
would
to
like
to
change
your
contribution,
please
log
into
the
Plan’s
website
www.webaccountlink.com
to
record
your
changes.
change your contribution, please log into the Plan’s website https://www.pcsretirement.com/login to record your changes.
Please note
note all
must
be be
made
through
the the
website
or byorcontacting
a Participant
Services Representative
at
Please
all contribution
contributionelection
electionchanges
changes
must
made
through
website
by contacting
a PCS Participant
Services Rep(888) 621­5491.
resenative
at (888) 621-5491.
Change of Contribution Election Amount
Please change my contribution election to the Plan to the following amount as of the earliest possible date:
% (as allowed by plan) on a pre-tax basis. I understand that my
Traditional 401(k) contribution: $ or
salary reduction amount will be made directly to the Plan before federal income tax is withheld and will be subject to the
provisions of Internal Revenue Code Section 401(k).
Roth (after tax contribution): $
or
% (as allowed by plan) on an after-tax basis. I understand that
the amount specified above is a non-deductible, after-tax contribution and will be subject to the 5 year holding period
requirement as well as the provisions of Internal Revenue Code 401(k).
I understand that I may change my rate of contributions in accordance with the terms of the Plan.
Catch-Up Contribution: I will be age 50 or older by the end of this calendar year. In addition to the regular contribution election
specified above, I also elect to make catchup deferral contributions of $
or
% (as allowed by plan) on a
pre-tax traditional basis or an after-tax Roth basis.
traditional or
an after-tax basis Roth.
PCS
Beneficiary Designation Worksheet
This worksheet contains a list of your primary and contingent beneficiary(ies). Once you have determined who you would like to designate as
your beneficiary(ies), please log into the Plan’s website https://www.pcsretirement.com/login to record your designations.
Please note all beneficiary designation changes must be made through the website or by contacting a Participant Services Representative at
(888) 621­5491.
Primary Beneficiary(ies)
I hereby designate the following as my primary beneficiary(ies) to receive any death benefits, payable as a result of my
death, in accordance with the provisions of my employer’s retirement plan (“the Plan”):
First Name:
Social Security #:
Address:
City:
Home Phone #:
Relationship:
First Name:
Social Security #:
Address:
City:
Home Phone #:
Relationship:
First Name:
Social Security #:
Address:
City:
Home Phone #:
Relationship:
First Name:
Social Security #:
Address:
City:
Home Phone #:
Relationship:
PCS
MI:
Last Name:
Date of Birth:
State:
Work Phone #:
Percentage Share:
MI:
Zip:
Ext:
%
Last Name:
Date of Birth:
State:
Work Phone #:
Percentage Share:
MI:
%
Last Name:
Date of Birth:
State:
Work Phone #:
Percentage Share:
MI:
Zip:
Ext:
Zip:
Ext:
%
Last Name:
Date of Birth:
State:
Work Phone #:
Percentage Share:
Zip:
Ext:
%
Contingent Beneficiary(ies)
In the event my primary beneficiary(ies) should predecease me or die prior to the complete distribution of benefits from
the Plan, I designate the following as my contingent beneficiary(ies):
First Name:
Social Security #:
Address:
City:
Home Phone #:
Relationship:
First Name:
Social Security #:
Address:
City:
Home Phone #:
Relationship:
First Name:
Social Security #:
Address:
City:
Home Phone #:
Relationship:
First Name:
Social Security #:
Address:
City:
Home Phone #:
Relationship:
PCS
MI:
Last Name:
Date of Birth:
State:
Work Phone #:
Percentage Share:
MI:
Zip:
Ext:
%
Last Name:
Date of Birth:
State:
Work Phone #:
Percentage Share:
MI:
%
Last Name:
Date of Birth:
State:
Work Phone #:
Percentage Share:
MI:
Zip:
Ext:
Zip:
Ext:
%
Last Name:
Date of Birth:
State:
Work Phone #:
Percentage Share:
Zip:
Ext:
%
Plan Investments: Investment Funds
What can I invest in?
The following pages contain information about the individual funds within your Plan. Before investing,
consider the investment's objectives, risks, charges and expenses. These funds each have different risk
and return characteristics. Please read the information about all of the investment options available to you
within the plan before you invest.
Questions about the individual funds?
Contact the Plan's financial advisor, Lagos Wealth Advisors of Lagos Wealth Advisors at (714) 940­0888
or 401k@lagosadvisors.com
PCS
33
JPMorgan Emerging Markets Equity R6
Fund Overview
Total Return data as of 12/31/2022
Fund Description
Objective
Category
Benchmark Index
Total Assets
Turnover Ratio
Diversified Emerging Markets
Diversified Emerging Mkts
MSCI EM NR USD
$4,057.15 Million
18.00 %
Symbol
Type
Inception Date
Family
Manager
Tenure
Website
JEMWX
Mutual Fund
2013­12­23
JPMorgan
Eidelman/Forey/Mehta
Since Inception
The investment seeks to provide high total return. The
fund invests at least 80% of the value of its assets in
equity securities and equity­related instruments that are
tied economically to emerging markets. "Assets" means
net assets, plus the amount of borrowings for
investment purposes. It may invest in securities
denominated in U.S. dollars, other major reserve
currencies, such as the euro, yen and pound sterling,
and currencies of other countries in which it can invest.
Fund
­25.61 %
­3.37 %
0.08 %
2.70 %
1 Year Return
3 Year Return
5 Year Return
10 Year Return
Category Benchmark
­17.48 %
­1.33 %
­0.27 %
2.97 %
Fees and Expenses
­20.09 %
­2.69 %
­1.40 %
1.44 %
0.800 %
$8.00
Prospectus Gross Expense Ratio
Annual Expense per $1,000 Invested
Prospectus Net Expense Ratio
Annual Expense per $1,000 Invested
0.790 %
$7.90
12b1 Expense
Sales Charge
Deferred Sales Charge
None
None
None
Taiwan Semiconductor Manufacturing Co Ltd
ADR
Samsung Electronics Co Ltd
Housing Development Finance Corp Ltd
Tencent Holdings Ltd
HDFC Bank Ltd
7.91 %
6.00 %
3.26 %
3.13 %
3.04 %
The cumulative effect of investment fees and expenses can substantially reduce your retirement
savings. However, fees and expenses are only two of many factors to consider when deciding what
investment is appropriate for you. For additional information concerning the long­term effect of fees
and expenses, visit the US DOL web site at
http://www.dol.gov/ebsa/publications/401k_employee.html.
The performance data quoted represents past performance and does not guarantee future
results.Equals The investment return and principal value of an investment will fluctuate thus an
investor's shares, when redeemed, may be worth more or less than their original cost. Performance
data assumes reinvestment of dividends and capital gains.
Mutual Fund and Morningstar Proprietary Index Data Source: ©2023 Morningstar. All Rights
Reserved. The mutual fund and Morningstar proprietary index information contained herein: (1) is
proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3)
is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers
are responsible for any damages or losses arising from any use of this information. All other Index
Source, Lipper, a Thomson Reuters Company. Copyright 2023 © Thomson Reuters. All rights
reserved.
T. Rowe Price Financial Services I
Fund Overview
Specialty ­ Financial
Financial
S&P 1500 Financials TR
$583.87 Million
15.40 %
Symbol
Type
Inception Date
Family
Manager
Tenure
Website
TFIFX
Mutual Fund
2016­11­29
T. Rowe Price
Snowling
1.5 Years
The investment seeks long­term growth of capital and a
modest level of income. The fund normally invests at
least 80% of its net assets (including any borrowings for
investment purposes) in the common stocks of
companies in the financial services industry. In addition,
it may invest in companies, such as providers of
financial software, that derive substantial revenues (at
least 50%) from conducting business in the financial
services industry. Security selection is based on
fundamental, bottom­up analysis that seeks to identify
high quality companies with good appreciation
prospects. The fund is non­diversified.
www.troweprice.com
Total Return
1 Year Return
3 Year Return
5 Year Return
10 Year Return
Fund
­10.83 %
9.12 %
8.76 %
12.34 %
Category Benchmark
Fees and Expenses
­4.30 %
4.85 %
4.84 %
10.07 %
­10.15 %
5.85 %
6.24 %
12.03 %
Prospectus Gross Expense Ratio
Annual Expense per $1,000 Invested
0.760 %
$7.60
Prospectus Net Expense Ratio
Annual Expense per $1,000 Invested
0.760 %
$7.60
12b1 Expense
Sales Charge
Deferred Sales Charge
None
None
None
Investment by Region
Americas
Greater Europe
Greater Asia
14.3 %
5.6 %
80.1 %
US Stock Asset Classes
Lg
11.9 %
47.3 %
33.5 %
Mid
0.0 %
2.7 %
3.7 %
Sm
0.0 %
0.9 %
0.0 %
Value
Blend
Growth
Total Return data as of 12/31/2022
Fund Description
Objective
Category
Benchmark Index
Total Assets
Turnover Ratio
4.8 %
95.2 %
0.0 %
0.0 %
0.0 %
Top 5 Holdings
https://www.jpmorganfunds.com
Total Return
US Stocks
Non­US Stocks
Bonds
Cash
Other
US Stocks
Non­US Stocks
Bonds
Cash
Other
88.7 %
11.1 %
0.0 %
0.2 %
0.0 %
Top 5 Holdings
Wells Fargo & Co
Chubb Ltd
Bank of America Corp
Charles Schwab Corp
The Goldman Sachs Group Inc
4.93 %
4.49 %
3.59 %
3.38 %
3.36 %
The cumulative effect of investment fees and expenses can substantially reduce your retirement
savings. However, fees and expenses are only two of many factors to consider when deciding what
investment is appropriate for you. For additional information concerning the long­term effect of fees
and expenses, visit the US DOL web site at
http://www.dol.gov/ebsa/publications/401k_employee.html.
The performance data quoted represents past performance and does not guarantee future
results.Equals The investment return and principal value of an investment will fluctuate thus an
investor's shares, when redeemed, may be worth more or less than their original cost. Performance
data assumes reinvestment of dividends and capital gains.
Mutual Fund and Morningstar Proprietary Index Data Source: ©2023 Morningstar. All Rights
Reserved. The mutual fund and Morningstar proprietary index information contained herein: (1) is
proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3)
is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers
are responsible for any damages or losses arising from any use of this information. All other Index
Source, Lipper, a Thomson Reuters Company. Copyright 2023 © Thomson Reuters. All rights
reserved.
Investment by Region
Americas
Greater Europe
Greater Asia
Not Classified
91.0 %
7.5 %
0.4 %
1.1 %
US Stock Asset Classes
Lg
33.8 %
15.0 %
2.4 %
Mid
25.2 %
9.8 %
2.7 %
Sm
8.4 %
1.9 %
0.9 %
Value
Blend
Growth
BlackRock EAFE Equity Index Fund CL 1
Fund Overview
Total Return data as of 12/31/2022
Fund Description
Objective
Category
Benchmark Index
Total Assets
Turnover Ratio
Not Available
Foreign Large Blend
Morningstar DM Eur TME NR USD
$217.90 Million
3.97 %
Symbol
Type
Inception Date
Family
Manager
Tenure
Website
None
Collective
2017­08­14
Wilmington Trust, N.A
Aguirre
5.38 Years
Fund
­13.92 %
1.28 %
1.92 %
4.82 %
1 Year Return
3 Year Return
5 Year Return
10 Year Return
BlackRock EAFE® Equity Index F
Cash
Category Benchmark
­22.02 %
­0.44 %
­0.05 %
3.72 %
Fees and Expenses
­15.23 %
1.50 %
2.05 %
4.59 %
Prospectus Gross Expense Ratio
Annual Expense per $1,000 Invested
0.050 %
$0.50
Prospectus Net Expense Ratio
Annual Expense per $1,000 Invested
0.050 %
$0.50
12b1 Expense
Sales Charge
Deferred Sales Charge
The cumulative effect of investment fees and expenses can substantially reduce your retirement
savings. However, fees and expenses are only two of many factors to consider when deciding what
investment is appropriate for you. For additional information concerning the long­term effect of fees
and expenses, visit the US DOL web site at
http://www.dol.gov/ebsa/publications/401k_employee.html.
The performance data quoted represents past performance and does not guarantee future
results.Equals The investment return and principal value of an investment will fluctuate thus an
investor's shares, when redeemed, may be worth more or less than their original cost. Performance
data assumes reinvestment of dividends and capital gains.
Mutual Fund and Morningstar Proprietary Index Data Source: ©2023 Morningstar. All Rights
Reserved. The mutual fund and Morningstar proprietary index information contained herein: (1) is
proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3)
is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers
are responsible for any damages or losses arising from any use of this information. All other Index
Source, Lipper, a Thomson Reuters Company. Copyright 2023 © Thomson Reuters. All rights
reserved.
Not Available
Foreign Large Growth
Morningstar DM xNA Tgt Mtum NR
$114.12 Million
18.57 %
Symbol
Type
Inception Date
Family
Manager
Tenure
Website
None
Collective
2019­06­28
Wilmington Trust, N.A
Huber/Remmert
3.51 Years
Fund
Category Benchmark
­28.85 %
­0.02 %
1.18 %
5.00 %
Fees and Expenses
­28.19 %
1.90 %
2.09 %
8.70 %
Prospectus Gross Expense Ratio
Annual Expense per $1,000 Invested
0.480 %
$4.80
Prospectus Net Expense Ratio
Annual Expense per $1,000 Invested
0.480 %
$4.80
12b1 Expense
Sales Charge
Deferred Sales Charge
1.2 %
62.6 %
4.7 %
31.6 %
Lg
27.6 %
34.4 %
25.7 %
Mid
3.8 %
5.1 %
3.3 %
Sm
0.0 %
0.0 %
0.1 %
Value
Blend
Growth
The Fund seeks to exceed the return of the benchmark
over a full market cycle. Franklin Templeton employs a
disciplined, bottom­up philosophy with the objective of
building a concentrated portfolio of high quality
sustainable growth companies. The Sub­Advisor looks
across industries and countries for companies with
sustainable business models that meet their growth,
quality and valuation criteria.
US Stocks
Non­US Stocks
Bonds
Cash
Other
5.8 %
89.6 %
0.0 %
4.6 %
0.0 %
Top 5 Holdings
www.flexpathstrategies.com
­40.55 %
­2.84 %
0.46 %
4.94 %
Americas
Greater Europe
Greater Asia
Not Classified
Total Return data as of 12/31/2022
Fund Description
Objective
Category
Benchmark Index
Total Assets
Turnover Ratio
Investment by Region
US Stock Asset Classes
None
None
None
Fund Overview
1 Year Return
3 Year Return
5 Year Return
10 Year Return
1.1 %
98.6 %
0.0 %
0.3 %
0.1 %
100.05 %
0.05 %
International Growth Fund CL R
Total Return
US Stocks
Non­US Stocks
Bonds
Cash
Other
Top 5 Holdings
www.flexpathstrategies.com
Total Return
The Fund seeks to achieve investment results that are
similar to the price and yield performance, before fees
and expenses, of the MSCI EAFE Index. To implement
this objective, the Fund will be invested in the EAFE
Equity Index Fund F (the “Underlying Fund”) managed
by BlackRock Institutional Trust Company, N.A.
None
None
None
Northern Institutional Treasury Premier
Genmab A/S
MTU Aero Engines AG
CTS Eventim AG & Co. KGaA
Keywords Studios PLC
4.43 %
4.25 %
4.11 %
3.79 %
3.78 %
The cumulative effect of investment fees and expenses can substantially reduce your retirement
savings. However, fees and expenses are only two of many factors to consider when deciding what
investment is appropriate for you. For additional information concerning the long­term effect of fees
and expenses, visit the US DOL web site at
http://www.dol.gov/ebsa/publications/401k_employee.html.
The performance data quoted represents past performance and does not guarantee future
results.Equals The investment return and principal value of an investment will fluctuate thus an
investor's shares, when redeemed, may be worth more or less than their original cost. Performance
data assumes reinvestment of dividends and capital gains.
Mutual Fund and Morningstar Proprietary Index Data Source: ©2023 Morningstar. All Rights
Reserved. The mutual fund and Morningstar proprietary index information contained herein: (1) is
proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3)
is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers
are responsible for any damages or losses arising from any use of this information. All other Index
Source, Lipper, a Thomson Reuters Company. Copyright 2023 © Thomson Reuters. All rights
reserved.
Investment by Region
Americas
Greater Europe
Greater Asia
Not Classified
9.4 %
73.1 %
0.0 %
17.5 %
US Stock Asset Classes
Lg
0.0 %
12.1 %
35.2 %
Mid
6.5 %
12.7 %
26.6 %
Sm
0.0 %
0.0 %
6.9 %
Value
Blend
Growth
PIMCO International Bond (USD-Hdg) Instl
Fund Overview
Total Return data as of 12/31/2022
Fund Description
Objective
Category
Benchmark Index
Total Assets
Turnover Ratio
Worldwide Bond
Global Bond­USD Hedged
Barclays Gl Agg xUS TRIX
$7,789.23 Million
334.00 %
Symbol
Type
Inception Date
Family
Manager
Tenure
Website
PFORX
Mutual Fund
1992­12­02
PIMCO
Balls/Pagani/Gupta
8.27 Years
The investment seeks maximum total return, consistent
with preservation of capital and prudent investment
management. The fund seeks to achieve its investment
objective by investing under normal circumstances at
least 80% of its assets in Fixed Income Instruments. It
will invest under normal circumstances in Fixed Income
Instruments that are economically tied to at least three
non­U.S. countries. The fund invests primarily in
investment grade debt securities, but may invest up to
10% of its total assets in junk bonds as rated by
Moody's, S&P or Fitch, or, if unrated, as determined by
PIMCO. It is non­diversified.
www.pimco.com
Total Return
Fund
­9.84 %
­2.00 %
0.72 %
2.61 %
1 Year Return
3 Year Return
5 Year Return
10 Year Return
Category Benchmark
­12.70 %
­2.94 %
­0.07 %
1.19 %
Fees and Expenses
­18.08 %
­5.57 %
­2.66 %
­1.30 %
Prospectus Gross Expense Ratio
Annual Expense per $1,000 Invested
0.510 %
$5.10
Prospectus Net Expense Ratio
Annual Expense per $1,000 Invested
0.510 %
$5.10
12b1 Expense
Sales Charge
Deferred Sales Charge
None
None
None
RFR USD SOFR/1.32000 12/21/22­1Y LCH Pay
RFR USD SOFR/1.32000 12/21/22­1Y LCH
Receive
IRS EUR 1.50000 03/15/23­5Y LCH Pay
IRS EUR 1.50000 03/15/23­5Y LCH Receive
Euro Schatz Future Dec 22
23.60 %
22.89 %
Investment by Region
17.64 %
16.36 %
15.22 %
Americas
Greater Europe
Greater Asia
Specialty ­ Health
Health
Morningstar US Health TR USD
$5,938.14 Million
33.80 %
Symbol
Type
Inception Date
Family
Manager
Tenure
Website
THISX
Mutual Fund
2016­03­23
T. Rowe Price
Bakri
6.75 Years
www.troweprice.com
Total Return
1 Year Return
3 Year Return
5 Year Return
10 Year Return
Fund
­12.08 %
9.11 %
11.21 %
16.00 %
The performance data quoted represents past performance and does not guarantee future
results.Equals The investment return and principal value of an investment will fluctuate thus an
investor's shares, when redeemed, may be worth more or less than their original cost. Performance
data assumes reinvestment of dividends and capital gains.
Mutual Fund and Morningstar Proprietary Index Data Source: ©2023 Morningstar. All Rights
Reserved. The mutual fund and Morningstar proprietary index information contained herein: (1) is
proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3)
is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers
are responsible for any damages or losses arising from any use of this information. All other Index
Source, Lipper, a Thomson Reuters Company. Copyright 2023 © Thomson Reuters. All rights
reserved.
Total Return data as of 12/31/2022
Fees and Expenses
­5.18 %
10.44 %
11.68 %
14.76 %
Prospectus Gross Expense Ratio
Annual Expense per $1,000 Invested
0.650 %
$6.50
Prospectus Net Expense Ratio
Annual Expense per $1,000 Invested
0.650 %
$6.50
12b1 Expense
Sales Charge
Deferred Sales Charge
The investment seeks long­term capital appreciation.
The fund will normally invest at least 80% of its net
assets (including any borrowings for investment
purposes) in the common stocks of companies
engaged in the research, development, production, or
distribution of products or services related to health
care, medicine, or the life sciences (collectively termed
"health sciences"). While the fund can invest in
companies of any size, the majority of fund assets are
expected to be invested in large­ and mid­capitalization
companies.
US Stocks
Non­US Stocks
Bonds
Cash
Other
90.0 %
9.9 %
0.0 %
0.1 %
0.0 %
Top 5 Holdings
Category Benchmark
­6.55 %
6.48 %
8.37 %
12.94 %
0.0 %
100.0 %
0.0 %
The cumulative effect of investment fees and expenses can substantially reduce your retirement
savings. However, fees and expenses are only two of many factors to consider when deciding what
investment is appropriate for you. For additional information concerning the long­term effect of fees
and expenses, visit the US DOL web site at
http://www.dol.gov/ebsa/publications/401k_employee.html.
Fund Description
Objective
Category
Benchmark Index
Total Assets
Turnover Ratio
0.0 %
0.0 %
91.1 %
11.0 %
­2.2 %
Top 5 Holdings
T. Rowe Price Health Sciences I
Fund Overview
US Stocks
Non­US Stocks
Bonds
Cash
Other
None
None
None
UnitedHealth Group Inc
Thermo Fisher Scientific Inc
Eli Lilly and Co
Danaher Corp
AstraZeneca PLC ADR
9.52 %
5.62 %
4.85 %
4.44 %
3.18 %
The cumulative effect of investment fees and expenses can substantially reduce your retirement
savings. However, fees and expenses are only two of many factors to consider when deciding what
investment is appropriate for you. For additional information concerning the long­term effect of fees
and expenses, visit the US DOL web site at
http://www.dol.gov/ebsa/publications/401k_employee.html.
The performance data quoted represents past performance and does not guarantee future
results.Equals The investment return and principal value of an investment will fluctuate thus an
investor's shares, when redeemed, may be worth more or less than their original cost. Performance
data assumes reinvestment of dividends and capital gains.
Mutual Fund and Morningstar Proprietary Index Data Source: ©2023 Morningstar. All Rights
Reserved. The mutual fund and Morningstar proprietary index information contained herein: (1) is
proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3)
is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers
are responsible for any damages or losses arising from any use of this information. All other Index
Source, Lipper, a Thomson Reuters Company. Copyright 2023 © Thomson Reuters. All rights
reserved.
Investment by Region
Americas
Greater Europe
Greater Asia
Not Classified
90.1 %
7.8 %
1.0 %
1.1 %
US Stock Asset Classes
Lg
7.7 %
37.8 %
22.0 %
Mid
1.2 %
7.8 %
14.2 %
Sm
1.3 %
2.4 %
5.5 %
Value
Blend
Growth
PGIM High Yield R6
Total Return data as of 12/31/2022
Fund Overview
Fund Description
Objective
Category
Benchmark Index
Total Assets
Turnover Ratio
Corporate Bond ­ High Yield
High Yield Bond
Morningstar US HY Bd TR USD
$7,923.93 Million
38.00 %
Symbol
Type
Inception Date
Family
Manager
Tenure
Website
PHYQX
Mutual Fund
2011­10­31
PGIM Investments
Clapp/Spano/Kelly/Gormally/Cignar
9.05 Years
www.prudentialfunds.com
Total Return
Fund
­11.34 %
­0.07 %
2.77 %
4.36 %
1 Year Return
3 Year Return
5 Year Return
10 Year Return
Category Benchmark
­10.35 %
­0.51 %
1.50 %
3.11 %
Fees and Expenses
Prospectus Gross Expense Ratio
Annual Expense per $1,000 Invested
Prospectus Net Expense Ratio
Annual Expense per $1,000 Invested
­11.09 %
0.05 %
2.28 %
3.99 %
0.380 %
$3.80
0.380 %
$3.80
12b1 Expense
Sales Charge
Deferred Sales Charge
None
None
None
The investment seeks to maximize current income; and
capital appreciation is a secondary objective. The fund
normally invests at least 80% of its investable assets in
a diversified portfolio of high yield fixed­income
instruments rated Ba or lower by Moody's Investors
Service ("Moody's") or BB or lower by S&P Global
Ratings ("S&P"), and instruments either comparably
rated by another nationally recognized statistical rating
organization ("NRSRO"), or considered to be of
comparable quality, that is, junk bonds.
Dreyfus Government Cash Mgmt Instl
United States Treasury Notes 2.625%
PGIM Core Short­Term Bond
Prudential Invt Portfolios 2
Bombardier Inc. 7.875%
7.21 %
3.50 %
1.66 %
1.11 %
0.91 %
The cumulative effect of investment fees and expenses can substantially reduce your retirement
savings. However, fees and expenses are only two of many factors to consider when deciding what
investment is appropriate for you. For additional information concerning the long­term effect of fees
and expenses, visit the US DOL web site at
http://www.dol.gov/ebsa/publications/401k_employee.html.
The performance data quoted represents past performance and does not guarantee future
results.Equals The investment return and principal value of an investment will fluctuate thus an
investor's shares, when redeemed, may be worth more or less than their original cost. Performance
data assumes reinvestment of dividends and capital gains.
Mutual Fund and Morningstar Proprietary Index Data Source: ©2023 Morningstar. All Rights
Reserved. The mutual fund and Morningstar proprietary index information contained herein: (1) is
proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3)
is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers
are responsible for any damages or losses arising from any use of this information. All other Index
Source, Lipper, a Thomson Reuters Company. Copyright 2023 © Thomson Reuters. All rights
reserved.
Growth and Income
Inflation­Protected Bond
Barclays US Trsy InflationNote
$5,703.42 Million
1.00 %
Symbol
Type
Inception Date
Family
Manager
Tenure
Website
DIPSX
Mutual Fund
2006­09­18
Dimensional Fund Advisors
Hutchison/Kolerich/Plecha
11.33 Years
1 Year Return
3 Year Return
5 Year Return
10 Year Return
Fund
­12.22 %
1.14 %
2.06 %
1.04 %
Category Benchmark
­11.93 %
0.59 %
1.64 %
1.29 %
Fees and Expenses
­11.85 %
1.21 %
2.11 %
1.12 %
Prospectus Gross Expense Ratio
Annual Expense per $1,000 Invested
0.110 %
$1.10
Prospectus Net Expense Ratio
Annual Expense per $1,000 Invested
0.110 %
$1.10
12b1 Expense
Sales Charge
Deferred Sales Charge
Americas
Greater Europe
Greater Asia
98.8 %
1.2 %
0.0 %
US Stock Asset Classes
Lg ­999.0 % ­999.0 % ­999.0 %
Mid ­999.0 % ­999.0 % ­999.0 %
Sm ­999.0 % ­999.0 % ­999.0 %
Value
Blend
Growth
The investment seeks to provide inflation protection and
earn current income consistent with inflation­protected
securities. As a non­fundamental policy, under normal
circumstances, the Portfolio will invest at least 80% of
its net assets in inflation­protected securities.
Inflation­protected securities (also known as
inflation­indexed securities) are securities whose
principal and/or interest payments are adjusted for
inflation, unlike conventional debt securities that make
fixed principal and interest payments.
US Stocks
Non­US Stocks
Bonds
Cash
Other
0.0 %
0.0 %
99.8 %
0.2 %
0.0 %
Top 5 Holdings
www.dimensional.com
Total Return
Investment by Region
Total Return data as of 12/31/2022
Fund Description
Objective
Category
Benchmark Index
Total Assets
Turnover Ratio
1.6 %
0.0 %
88.7 %
7.1 %
2.6 %
Top 5 Holdings
DFA Inflation-Protected Securities I
Fund Overview
US Stocks
Non­US Stocks
Bonds
Cash
Other
None
None
None
United States Treasury Notes 0.375%
United States Treasury Notes 0.875%
United States Treasury Bonds 3.875%
United States Treasury Notes 0.375%
United States Treasury Bonds 3.625%
8.93 %
8.86 %
8.66 %
8.56 %
8.53 %
The cumulative effect of investment fees and expenses can substantially reduce your retirement
savings. However, fees and expenses are only two of many factors to consider when deciding what
investment is appropriate for you. For additional information concerning the long­term effect of fees
and expenses, visit the US DOL web site at
http://www.dol.gov/ebsa/publications/401k_employee.html.
The performance data quoted represents past performance and does not guarantee future
results.Equals The investment return and principal value of an investment will fluctuate thus an
investor's shares, when redeemed, may be worth more or less than their original cost. Performance
data assumes reinvestment of dividends and capital gains.
Mutual Fund and Morningstar Proprietary Index Data Source: ©2023 Morningstar. All Rights
Reserved. The mutual fund and Morningstar proprietary index information contained herein: (1) is
proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3)
is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers
are responsible for any damages or losses arising from any use of this information. All other Index
Source, Lipper, a Thomson Reuters Company. Copyright 2023 © Thomson Reuters. All rights
reserved.
Investment by Region
Americas
Greater Europe
Greater Asia
Not Classified
0.0 %
0.0 %
0.0 %
100.0 %
BlackRock U.S. Debt Index Fd CL 1
Fund Overview
Total Return data as of 12/31/2022
Fund Description
Objective
Category
Benchmark Index
Total Assets
Turnover Ratio
Not Available
Intermediate Core Bond
Barclays Aggregate Bond TR
$265.03 Million
7.26 %
Symbol
Type
Inception Date
Family
Manager
Tenure
Website
None
Collective
2017­08­14
Wilmington Trust, N.A
Radell
5.38 Years
The Fund seeks to achieve investment results that are
similar to the price and yield performance, before fees
and expenses, of the Bloomberg U.S. Aggregate Bond
Index. To implement this objective, the Fund will be
invested in the U.S. Debt Index Fund F (the “Underlying
Fund”) managed by BlackRock Institutional Trust
Company, N.A.
Fund
­13.05 %
­2.73 %
0.02 %
1.06 %
1 Year Return
3 Year Return
5 Year Return
10 Year Return
BlackRock U.S. Debt Index F
Cash
Category Benchmark
­13.41 %
­2.70 %
­0.13 %
0.93 %
Fees and Expenses
­13.01 %
­2.71 %
0.02 %
1.06 %
Prospectus Gross Expense Ratio
Annual Expense per $1,000 Invested
0.035 %
$0.35
Prospectus Net Expense Ratio
Annual Expense per $1,000 Invested
0.035 %
$0.35
12b1 Expense
Sales Charge
Deferred Sales Charge
100.04 %
0.04 %
The cumulative effect of investment fees and expenses can substantially reduce your retirement
savings. However, fees and expenses are only two of many factors to consider when deciding what
investment is appropriate for you. For additional information concerning the long­term effect of fees
and expenses, visit the US DOL web site at
http://www.dol.gov/ebsa/publications/401k_employee.html.
The performance data quoted represents past performance and does not guarantee future
results.Equals The investment return and principal value of an investment will fluctuate thus an
investor's shares, when redeemed, may be worth more or less than their original cost. Performance
data assumes reinvestment of dividends and capital gains.
Mutual Fund and Morningstar Proprietary Index Data Source: ©2023 Morningstar. All Rights
Reserved. The mutual fund and Morningstar proprietary index information contained herein: (1) is
proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3)
is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers
are responsible for any damages or losses arising from any use of this information. All other Index
Source, Lipper, a Thomson Reuters Company. Copyright 2023 © Thomson Reuters. All rights
reserved.
Fund Description
Objective
Category
Benchmark Index
Total Assets
Turnover Ratio
Not Available
Intermediate Core­Plus Bond
Morningstar US Corp Bd TR USD
$121.20 Million
55.29 %
Symbol
Type
Inception Date
Family
Manager
Tenure
Website
None
Collective
2019­11­29
Wilmington Trust, N.A
Team
3.09 Years
www.flexpathstrategies.com
Fund
­14.62 %
­3.29 %
N/A
N/A
Category Benchmark
­14.03 %
­2.69 %
0.00 %
1.21 %
Fees and Expenses
­15.71 %
­2.94 %
0.42 %
1.83 %
Prospectus Gross Expense Ratio
Annual Expense per $1,000 Invested
0.290 %
$2.90
Prospectus Net Expense Ratio
Annual Expense per $1,000 Invested
0.290 %
$2.90
12b1 Expense
Sales Charge
Deferred Sales Charge
Americas
Greater Europe
Greater Asia
Not Classified
0.0 %
0.0 %
0.0 %
100.0 %
Total Return data as of 12/31/2022
Fund Overview
1 Year Return
3 Year Return
5 Year Return
10 Year Return
Investment by Region
None
None
None
Core Plus Bond Fund CL R1
Total Return
0.0 %
0.0 %
95.2 %
3.7 %
0.0 %
Top 5 Holdings
www.flexpathstrategies.com
Total Return
US Stocks
Non­US Stocks
Bonds
Cash
Other
None
None
None
The Core Plus Bond Fund is an actively managed
strategy that seeks to add more than 150 basis points
of annualized gross excess return over a broad market
U.S. fixed income index over a full market cycle (three
to five years). The strategy seeks diversified,
sustainable sources of excess return with manageable
downside risks, emphasizing relative­value based
sector allocation, research­based subsector and
security selection, as well as duration, yield curve, and
currency management. flexPath Strategies, LLC has
selected and the Trustee has approved the PGIM Total
Return Bond Fund CIT as the underlying fund.
US Stocks
Non­US Stocks
Bonds
Cash
Other
0.0 %
0.0 %
128.5 %
­29.8 %
1.3 %
Top 5 Holdings
PGIM Total Return Bond Fund CIT CL 0TS
Cash
100.02 %
0.02 %
The cumulative effect of investment fees and expenses can substantially reduce your retirement
savings. However, fees and expenses are only two of many factors to consider when deciding what
investment is appropriate for you. For additional information concerning the long­term effect of fees
and expenses, visit the US DOL web site at
http://www.dol.gov/ebsa/publications/401k_employee.html.
The performance data quoted represents past performance and does not guarantee future
results.Equals The investment return and principal value of an investment will fluctuate thus an
investor's shares, when redeemed, may be worth more or less than their original cost. Performance
data assumes reinvestment of dividends and capital gains.
Mutual Fund and Morningstar Proprietary Index Data Source: ©2023 Morningstar. All Rights
Reserved. The mutual fund and Morningstar proprietary index information contained herein: (1) is
proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3)
is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers
are responsible for any damages or losses arising from any use of this information. All other Index
Source, Lipper, a Thomson Reuters Company. Copyright 2023 © Thomson Reuters. All rights
reserved.
Investment by Region
Americas
Greater Europe
Greater Asia
0.0 %
100.0 %
0.0 %
BlackRock Equity Index Fund CL 1
Fund Overview
Total Return data as of 12/31/2022
Fund Description
Objective
Category
Benchmark Index
Total Assets
Turnover Ratio
Not Available
Large Blend
S&P 500 TR
$2,162.00 Million
5.07 %
Symbol
Type
Inception Date
Family
Manager
Tenure
Website
None
Collective
2017­07­24
Wilmington Trust, N.A
Team
5.44 Years
The Fund seeks to achieve investment results that are
similar to the price and yield performance, before fees
and expenses, of the S&P 500 Index. To implement this
objective, the Fund will be invested in the Equity Index
Fund F (the “Underlying Fund”) managed by BlackRock
Institutional Trust Company, N.A.
Fund
­18.11 %
7.68 %
9.45 %
12.23 %
1 Year Return
3 Year Return
5 Year Return
10 Year Return
BlackRock Equity Index F
Cash
Category Benchmark
­15.59 %
6.44 %
7.58 %
10.21 %
Fees and Expenses
­18.11 %
7.66 %
9.42 %
12.56 %
Prospectus Gross Expense Ratio
Annual Expense per $1,000 Invested
0.015 %
$0.15
Prospectus Net Expense Ratio
Annual Expense per $1,000 Invested
0.015 %
$0.15
12b1 Expense
Sales Charge
Deferred Sales Charge
100.01 %
0.01 %
The cumulative effect of investment fees and expenses can substantially reduce your retirement
savings. However, fees and expenses are only two of many factors to consider when deciding what
investment is appropriate for you. For additional information concerning the long­term effect of fees
and expenses, visit the US DOL web site at
http://www.dol.gov/ebsa/publications/401k_employee.html.
The performance data quoted represents past performance and does not guarantee future
results.Equals The investment return and principal value of an investment will fluctuate thus an
investor's shares, when redeemed, may be worth more or less than their original cost. Performance
data assumes reinvestment of dividends and capital gains.
Mutual Fund and Morningstar Proprietary Index Data Source: ©2023 Morningstar. All Rights
Reserved. The mutual fund and Morningstar proprietary index information contained herein: (1) is
proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3)
is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers
are responsible for any damages or losses arising from any use of this information. All other Index
Source, Lipper, a Thomson Reuters Company. Copyright 2023 © Thomson Reuters. All rights
reserved.
None
None
None
Wilmington Trust Franklin DynaTech CL R1
Fund Overview
Not Available
Large Growth
Russell 1000 Growth TR
$20.99 Million
36.92 %
Symbol
Type
Inception Date
Family
Manager
Tenure
Website
None
Collective
2020­05­28
Wilmington Trust, N.A
Moberg/Johnson
2.59 Years
The Franklin DynaTech Fund seeks capital appreciation
by investing primarily in companies which the
sub­advisor believes are leaders in innovation, take
advantage of new technologies, have quality
management, and benefit from new industry conditions
in the dynamically changing global economy. It employs
a bottom­up, research­driven investment process
focused on building a portfolio of companies
demonstrating the potential for long­term sustainable
growth. This bottom­up approach to stock selection
aims to be the primary source of value­add in the
strategy.
www.flexpathstrategies.com
Total Return
1 Year Return
3 Year Return
5 Year Return
10 Year Return
Fund
­39.76 %
2.65 %
N/A
N/A
Category Benchmark
­26.24 %
6.28 %
8.80 %
11.18 %
Fees and Expenses
­29.14 %
7.79 %
10.96 %
14.10 %
Prospectus Gross Expense Ratio
Annual Expense per $1,000 Invested
0.400 %
$4.00
Prospectus Net Expense Ratio
Annual Expense per $1,000 Invested
0.400 %
$4.00
12b1 Expense
Sales Charge
Deferred Sales Charge
None
None
None
Investment by Region
Americas
Greater Europe
Greater Asia
99.0 %
1.0 %
0.0 %
US Stock Asset Classes
Lg
16.0 %
31.0 %
37.3 %
Mid
4.4 %
8.2 %
3.0 %
Sm
0.2 %
0.0 %
0.0 %
Value
Blend
Growth
Total Return data as of 12/31/2022
Fund Description
Objective
Category
Benchmark Index
Total Assets
Turnover Ratio
98.4 %
1.0 %
0.0 %
0.6 %
0.0 %
Top 5 Holdings
www.flexpathstrategies.com
Total Return
US Stocks
Non­US Stocks
Bonds
Cash
Other
US Stocks
Non­US Stocks
Bonds
Cash
Other
87.3 %
9.5 %
0.0 %
3.1 %
0.0 %
Top 5 Holdings
Microsoft Corp
Amazon.com Inc
NVIDIA Corp
Alphabet Inc Class A
Mastercard Inc Class A
5.91 %
5.32 %
3.73 %
3.34 %
3.34 %
The cumulative effect of investment fees and expenses can substantially reduce your retirement
savings. However, fees and expenses are only two of many factors to consider when deciding what
investment is appropriate for you. For additional information concerning the long­term effect of fees
and expenses, visit the US DOL web site at
http://www.dol.gov/ebsa/publications/401k_employee.html.
The performance data quoted represents past performance and does not guarantee future
results.Equals The investment return and principal value of an investment will fluctuate thus an
investor's shares, when redeemed, may be worth more or less than their original cost. Performance
data assumes reinvestment of dividends and capital gains.
Mutual Fund and Morningstar Proprietary Index Data Source: ©2023 Morningstar. All Rights
Reserved. The mutual fund and Morningstar proprietary index information contained herein: (1) is
proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3)
is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers
are responsible for any damages or losses arising from any use of this information. All other Index
Source, Lipper, a Thomson Reuters Company. Copyright 2023 © Thomson Reuters. All rights
reserved.
Investment by Region
Americas
Greater Europe
Greater Asia
Not Classified
91.2 %
6.7 %
0.3 %
1.8 %
US Stock Asset Classes
Lg
0.1 %
12.5 %
64.0 %
Mid
0.2 %
3.8 %
19.0 %
Sm
0.0 %
0.1 %
0.4 %
Value
Blend
Growth
Large Cap Value Fund CL R1
Fund Overview
Total Return data as of 12/31/2022
Fund Description
Objective
Category
Benchmark Index
Total Assets
Turnover Ratio
Not Available
Large Value
Russell 1000 Value TR
$910.50 Million
37.80 %
Symbol
Type
Inception Date
Family
Manager
Tenure
Website
None
Collective
2018­12­10
Wilmington Trust, N.A
Team
4.06 Years
The strategy seeks to outperform the market over time
by employing a value­oriented approach to identify
potential opportunities for revaluation or fundamental
improvement. flexPATH Strategies, LLC has
recommended and the Trustee has approved the
Putnam Large Cap Value Trust as the underlying fund.
Fund
­2.81 %
9.58 %
N/A
N/A
1 Year Return
3 Year Return
5 Year Return
10 Year Return
Putnam Large Cap Value Trust I
Cash
Category Benchmark
­9.13 %
5.55 %
6.00 %
9.15 %
Fees and Expenses
­7.54 %
5.96 %
6.67 %
10.29 %
Prospectus Gross Expense Ratio
Annual Expense per $1,000 Invested
0.290 %
$2.90
Prospectus Net Expense Ratio
Annual Expense per $1,000 Invested
0.290 %
$2.90
12b1 Expense
Sales Charge
Deferred Sales Charge
100.05 %
0.05 %
The cumulative effect of investment fees and expenses can substantially reduce your retirement
savings. However, fees and expenses are only two of many factors to consider when deciding what
investment is appropriate for you. For additional information concerning the long­term effect of fees
and expenses, visit the US DOL web site at
http://www.dol.gov/ebsa/publications/401k_employee.html.
The performance data quoted represents past performance and does not guarantee future
results.Equals The investment return and principal value of an investment will fluctuate thus an
investor's shares, when redeemed, may be worth more or less than their original cost. Performance
data assumes reinvestment of dividends and capital gains.
Mutual Fund and Morningstar Proprietary Index Data Source: ©2023 Morningstar. All Rights
Reserved. The mutual fund and Morningstar proprietary index information contained herein: (1) is
proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3)
is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers
are responsible for any damages or losses arising from any use of this information. All other Index
Source, Lipper, a Thomson Reuters Company. Copyright 2023 © Thomson Reuters. All rights
reserved.
None
None
None
Fidelity® Mid Cap Index
Fund Description
Objective
Category
Benchmark Index
Total Assets
Turnover Ratio
Growth
Mid­Cap Blend
Russell Mid Cap TR USD
$24,593.65 Million
12.00 %
Symbol
Type
Inception Date
Family
Manager
Tenure
Website
FSMDX
Mutual Fund
2011­09­08
Fidelity Investments
Bottari/Gupta/Sohrabi/Regan/Matth
6.9 Years
www.institutional.fidelity.com
1 Year Return
3 Year Return
5 Year Return
10 Year Return
Fund
­17.28 %
5.89 %
7.10 %
10.95 %
Category Benchmark
­13.82 %
6.52 %
6.76 %
10.76 %
Fees and Expenses
­17.32 %
5.88 %
7.10 %
10.96 %
Prospectus Gross Expense Ratio
Annual Expense per $1,000 Invested
0.025 %
$0.25
Prospectus Net Expense Ratio
Annual Expense per $1,000 Invested
0.025 %
$0.25
12b1 Expense
Sales Charge
Deferred Sales Charge
Investment by Region
Americas
Greater Europe
Greater Asia
94.1 %
5.9 %
0.0 %
US Stock Asset Classes
Lg
27.7 %
40.2 %
13.4 %
Mid
4.6 %
10.2 %
2.3 %
Sm
0.4 %
1.2 %
0.0 %
Value
Blend
Growth
Total Return data as of 12/31/2022
Fund Overview
Total Return
88.6 %
5.6 %
0.0 %
4.4 %
1.4 %
Top 5 Holdings
www.flexpathstrategies.com
Total Return
US Stocks
Non­US Stocks
Bonds
Cash
Other
None
None
None
The investment seeks to provide investment results that
correspond to the total return of stocks of
mid­capitalization United States companies. The fund
invests normally at least 80% of its assets in securities
included in the Russell Midcap® Index. It lends
securities to earn income.
US Stocks
Non­US Stocks
Bonds
Cash
Other
99.0 %
0.9 %
0.0 %
0.0 %
0.0 %
Top 5 Holdings
O'Reilly Automotive Inc
Phillips 66
Synopsys Inc
AutoZone Inc
Corteva Inc
0.54 %
0.52 %
0.52 %
0.50 %
0.49 %
The cumulative effect of investment fees and expenses can substantially reduce your retirement
savings. However, fees and expenses are only two of many factors to consider when deciding what
investment is appropriate for you. For additional information concerning the long­term effect of fees
and expenses, visit the US DOL web site at
http://www.dol.gov/ebsa/publications/401k_employee.html.
The performance data quoted represents past performance and does not guarantee future
results.Equals The investment return and principal value of an investment will fluctuate thus an
investor's shares, when redeemed, may be worth more or less than their original cost. Performance
data assumes reinvestment of dividends and capital gains.
Mutual Fund and Morningstar Proprietary Index Data Source: ©2023 Morningstar. All Rights
Reserved. The mutual fund and Morningstar proprietary index information contained herein: (1) is
proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3)
is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers
are responsible for any damages or losses arising from any use of this information. All other Index
Source, Lipper, a Thomson Reuters Company. Copyright 2023 © Thomson Reuters. All rights
reserved.
Investment by Region
Americas
Greater Europe
Greater Asia
99.1 %
0.8 %
0.1 %
US Stock Asset Classes
Lg
1.7 %
6.6 %
7.3 %
Mid
19.5 %
34.9 %
19.7 %
Sm
3.6 %
5.0 %
1.7 %
Value
Blend
Growth
Mid Cap Growth R1
Total Return data as of 12/31/2022
Fund Overview
Fund Description
Objective
Category
Benchmark Index
Total Assets
Turnover Ratio
Not Available
Mid­Cap Growth
Russell Mid Cap Growth TR
$454.67 Million
29.61 %
Symbol
Type
Inception Date
Family
Manager
Tenure
Website
None
Collective
2020­03­02
Wilmington Trust, N.A
Team
2.83 Years
The Fund seeks to outperform the Russell MidCap
Growth Index over full market cycles by investing in the
MidCap Growth Equity Fund ("Underlying Fund"), a
collective investment fund managed by BlackRock
Institutional Trust Company, N.A. The Underlying Fund
seeks long­term capital appreciation by investing
primarily in equity securities issued by U.S.
mid­capitalization companies that its manager believes
have above­average earnings growth potential.
Fund
­37.07 %
1.74 %
N/A
N/A
1 Year Return
3 Year Return
5 Year Return
10 Year Return
MidCap Growth Equity Fund F
Cash
Category Benchmark
­27.05 %
5.21 %
7.81 %
10.36 %
Fees and Expenses
­26.72 %
3.85 %
7.64 %
11.41 %
Prospectus Gross Expense Ratio
Annual Expense per $1,000 Invested
0.500 %
$5.00
Prospectus Net Expense Ratio
Annual Expense per $1,000 Invested
0.500 %
$5.00
12b1 Expense
Sales Charge
Deferred Sales Charge
100.49 %
0.49 %
The cumulative effect of investment fees and expenses can substantially reduce your retirement
savings. However, fees and expenses are only two of many factors to consider when deciding what
investment is appropriate for you. For additional information concerning the long­term effect of fees
and expenses, visit the US DOL web site at
http://www.dol.gov/ebsa/publications/401k_employee.html.
The performance data quoted represents past performance and does not guarantee future
results.Equals The investment return and principal value of an investment will fluctuate thus an
investor's shares, when redeemed, may be worth more or less than their original cost. Performance
data assumes reinvestment of dividends and capital gains.
Mutual Fund and Morningstar Proprietary Index Data Source: ©2023 Morningstar. All Rights
Reserved. The mutual fund and Morningstar proprietary index information contained herein: (1) is
proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3)
is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers
are responsible for any damages or losses arising from any use of this information. All other Index
Source, Lipper, a Thomson Reuters Company. Copyright 2023 © Thomson Reuters. All rights
reserved.
None
None
None
Mid Cap Value Fund Fee Class R1
Fund Overview
Not Available
Mid­Cap Value
Russell Mid Cap Value TR
$267.08 Million
Not Available
Symbol
Type
Inception Date
Family
Manager
Tenure
Website
None
Collective
2020­12­01
Wilmington Trust, N.A
Toney/Woglom/Liss/Davidson
2.08 Years
The Fund seeks long­term capital gains and income by
investing in the American Century Mid Cap Value
Equity Trust ("Underlying Fund"), for which SEI Trust
Company is trustee and American Century Investment
Management, Inc. is subadviser. The Underlying Fund
invests in a diversified portfolio of equity securities of
domestic and foreign companies across the
capitalization spectrum with a focus on mid cap
securities, and using a value investment strategy that
looks for companies that are under­valued at the time of
purchase.
www.flexpathstrategies.com
1 Year Return
3 Year Return
5 Year Return
10 Year Return
Fund
­0.82 %
N/A
N/A
N/A
Fees and Expenses
­12.03 %
5.82 %
5.72 %
10.11 %
Prospectus Gross Expense Ratio
Annual Expense per $1,000 Invested
0.470 %
$4.70
Prospectus Net Expense Ratio
Annual Expense per $1,000 Invested
0.470 %
$4.70
12b1 Expense
Sales Charge
Deferred Sales Charge
Americas
Greater Europe
Greater Asia
Not Classified
94.2 %
3.8 %
0.0 %
2.0 %
US Stock Asset Classes
Lg
0.0 %
4.8 %
20.9 %
Mid
0.0 %
13.6 %
56.4 %
Sm
0.0 %
1.5 %
2.7 %
Value
Blend
Growth
US Stocks
Non­US Stocks
Bonds
Cash
Other
84.6 %
10.7 %
0.0 %
4.6 %
0.0 %
Top 5 Holdings
Category Benchmark
­9.98 %
5.62 %
4.72 %
9.00 %
Investment by Region
Total Return data as of 12/31/2022
Fund Description
Objective
Category
Benchmark Index
Total Assets
Turnover Ratio
Total Return
91.0 %
5.6 %
0.0 %
3.5 %
0.0 %
Top 5 Holdings
www.flexpathstrategies.com
Total Return
US Stocks
Non­US Stocks
Bonds
Cash
Other
None
None
None
American Century US Mid Cap Val Eq Tr R
Cash
100.04 %
0.04 %
The cumulative effect of investment fees and expenses can substantially reduce your retirement
savings. However, fees and expenses are only two of many factors to consider when deciding what
investment is appropriate for you. For additional information concerning the long­term effect of fees
and expenses, visit the US DOL web site at
http://www.dol.gov/ebsa/publications/401k_employee.html.
The performance data quoted represents past performance and does not guarantee future
results.Equals The investment return and principal value of an investment will fluctuate thus an
investor's shares, when redeemed, may be worth more or less than their original cost. Performance
data assumes reinvestment of dividends and capital gains.
Mutual Fund and Morningstar Proprietary Index Data Source: ©2023 Morningstar. All Rights
Reserved. The mutual fund and Morningstar proprietary index information contained herein: (1) is
proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3)
is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers
are responsible for any damages or losses arising from any use of this information. All other Index
Source, Lipper, a Thomson Reuters Company. Copyright 2023 © Thomson Reuters. All rights
reserved.
Investment by Region
Americas
Greater Europe
Greater Asia
88.7 %
10.8 %
0.0 %
US Stock Asset Classes
Lg
8.6 %
10.5 %
2.8 %
Mid
34.4 %
27.4 %
1.4 %
Sm
6.5 %
7.7 %
0.8 %
Value
Blend
Growth
Neuberger Berman Real Estate R6
Fund Overview
Total Return data as of 12/31/2022
Fund Description
Objective
Category
Benchmark Index
Total Assets
Turnover Ratio
Specialty ­ Real Estate
Real Estate
Morningstar US Real Est TR USD
$134.82 Million
37.00 %
Symbol
Type
Inception Date
Family
Manager
Tenure
Website
NRREX
Mutual Fund
2013­03­15
Neuberger Berman
Shigekawa/Jones
Since Inception
https://www.nb.com/en/global/home
Total Return
Fund
­26.98 %
0.88 %
5.21 %
6.93 %
1 Year Return
3 Year Return
5 Year Return
10 Year Return
Category Benchmark
­24.66 %
­0.93 %
3.19 %
6.25 %
­25.55 %
­0.46 %
3.74 %
6.29 %
Fees and Expenses
Prospectus Gross Expense Ratio
Annual Expense per $1,000 Invested
0.920 %
$9.20
Prospectus Net Expense Ratio
Annual Expense per $1,000 Invested
0.750 %
$7.50
12b1 Expense
Sales Charge
Deferred Sales Charge
None
None
None
The investment seeks total return through investment in
real estate securities, emphasizing both capital
appreciation and current income. The fund normally
invests at least 80% of its net assets in equity securities
issued by real estate investment trusts ("REITs") and
common stocks and other securities issued by other
real estate companies. The manager defines a real
estate company as one that derives at least 50% of its
revenue from, or has at least 50% of its assets in, real
estate. The fund may invest up to 20% of its net assets
in debt securities of real estate companies. It is
non­diversified.
American Tower Corp
Prologis Inc
Crown Castle Inc
Public Storage
Welltower Inc
8.93 %
7.94 %
5.94 %
5.91 %
4.21 %
The cumulative effect of investment fees and expenses can substantially reduce your retirement
savings. However, fees and expenses are only two of many factors to consider when deciding what
investment is appropriate for you. For additional information concerning the long­term effect of fees
and expenses, visit the US DOL web site at
http://www.dol.gov/ebsa/publications/401k_employee.html.
The performance data quoted represents past performance and does not guarantee future
results.Equals The investment return and principal value of an investment will fluctuate thus an
investor's shares, when redeemed, may be worth more or less than their original cost. Performance
data assumes reinvestment of dividends and capital gains.
Mutual Fund and Morningstar Proprietary Index Data Source: ©2023 Morningstar. All Rights
Reserved. The mutual fund and Morningstar proprietary index information contained herein: (1) is
proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3)
is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers
are responsible for any damages or losses arising from any use of this information. All other Index
Source, Lipper, a Thomson Reuters Company. Copyright 2023 © Thomson Reuters. All rights
reserved.
Fund Description
Objective
Category
Benchmark Index
Total Assets
Turnover Ratio
Small Company
Small Blend
Russell 2000 TR
$18,628.35 Million
24.00 %
Symbol
Type
Inception Date
Family
Manager
Tenure
Website
FSSNX
Mutual Fund
2011­09­08
Fidelity Investments
Bottari/Gupta/Sohrabi/Regan/Matth
6.9 Years
www.institutional.fidelity.com
Fund
­20.27 %
3.15 %
4.22 %
9.17 %
Category Benchmark
­16.21 %
4.90 %
4.84 %
9.42 %
Fees and Expenses
­20.43 %
3.10 %
4.13 %
9.01 %
Prospectus Gross Expense Ratio
Annual Expense per $1,000 Invested
0.025 %
$0.25
Prospectus Net Expense Ratio
Annual Expense per $1,000 Invested
0.025 %
$0.25
12b1 Expense
Sales Charge
Deferred Sales Charge
Investment by Region
Americas
Greater Europe
Greater Asia
Not Classified
98.3 %
0.0 %
0.0 %
1.7 %
US Stock Asset Classes
Lg
0.0 %
9.4 %
28.7 %
Mid
5.6 %
41.1 %
10.3 %
Sm
0.0 %
2.1 %
2.8 %
Value
Blend
Growth
Total Return data as of 12/31/2022
Fund Overview
1 Year Return
3 Year Return
5 Year Return
10 Year Return
97.7 %
1.7 %
0.0 %
0.7 %
0.0 %
Top 5 Holdings
Fidelity® Small Cap Index
Total Return
US Stocks
Non­US Stocks
Bonds
Cash
Other
None
None
None
The investment seeks to provide investment results that
correspond to the total return of stocks of
small­capitalization United States companies. The fund
invests normally at least 80% of its assets in securities
included in the Russell 2000® Index. It lends securities
to earn income.
US Stocks
Non­US Stocks
Bonds
Cash
Other
98.2 %
1.7 %
0.0 %
0.1 %
0.0 %
Top 5 Holdings
E­mini Russell 2000 Index Future Dec 22
Cash Offsets For Shorts & Derivatives
Fidelity Revere Str Tr
ShockWave Medical Inc
Chart Industries Inc
0.81 %
0.77 %
0.70 %
0.43 %
0.34 %
The cumulative effect of investment fees and expenses can substantially reduce your retirement
savings. However, fees and expenses are only two of many factors to consider when deciding what
investment is appropriate for you. For additional information concerning the long­term effect of fees
and expenses, visit the US DOL web site at
http://www.dol.gov/ebsa/publications/401k_employee.html.
The performance data quoted represents past performance and does not guarantee future
results.Equals The investment return and principal value of an investment will fluctuate thus an
investor's shares, when redeemed, may be worth more or less than their original cost. Performance
data assumes reinvestment of dividends and capital gains.
Mutual Fund and Morningstar Proprietary Index Data Source: ©2023 Morningstar. All Rights
Reserved. The mutual fund and Morningstar proprietary index information contained herein: (1) is
proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3)
is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers
are responsible for any damages or losses arising from any use of this information. All other Index
Source, Lipper, a Thomson Reuters Company. Copyright 2023 © Thomson Reuters. All rights
reserved.
Investment by Region
Americas
Greater Europe
Greater Asia
98.9 %
0.3 %
0.3 %
US Stock Asset Classes
Lg
0.2 %
0.0 %
0.0 %
Mid
1.0 %
2.5 %
3.2 %
Sm
28.4 %
41.5 %
23.3 %
Value
Blend
Growth
Small Cap Growth Fund II Fee Class R1
Fund Overview
Total Return data as of 12/31/2022
Fund Description
Objective
Category
Benchmark Index
Total Assets
Turnover Ratio
Not Available
Small Growth
Russell 2000 Growth TR
$126.46 Million
82.00 %
Symbol
Type
Inception Date
Family
Manager
Tenure
Website
None
Collective
2020­08­03
Wilmington Trust, N.A
Lau/Aronow/Tseng
2.41 Years
The Fund seeks to deliver long­term growth of capital
and to outperform the Russell 2000 Growth Index over
full market cycles, which indirectly invests in the AB US
Small Cap Growth Collective Trust (Series W)
("Underlying Fund"), for which AB Trust Company, LLC
is trustee and Alliance Bernstein L.P. is investment
adviser. The Underlying Fund's strategy employs a
highly disciplined stock selection process that marries
in­depth fundamental research with quantitative
analysis to identify high­quality, rapidly growing smaller
capitalization companies with earnings growth potential
that appear likely to outpace market expectations.
www.flexpathstrategies.com
Total Return
Fund
­38.70 %
N/A
N/A
N/A
1 Year Return
3 Year Return
5 Year Return
10 Year Return
Category Benchmark
­28.31 %
5.65 %
6.68 %
10.12 %
Fees and Expenses
­26.36 %
0.65 %
3.51 %
9.20 %
Prospectus Gross Expense Ratio
Annual Expense per $1,000 Invested
0.640 %
$6.40
Prospectus Net Expense Ratio
Annual Expense per $1,000 Invested
0.640 %
$6.40
12b1 Expense
Sales Charge
Deferred Sales Charge
AB US Small Cap Gr CIT (W Series) Cl N­1
Cash
100.01 %
0.01 %
Americas
Greater Europe
Greater Asia
The performance data quoted represents past performance and does not guarantee future
results.Equals The investment return and principal value of an investment will fluctuate thus an
investor's shares, when redeemed, may be worth more or less than their original cost. Performance
data assumes reinvestment of dividends and capital gains.
US Stock Asset Classes
Mutual Fund and Morningstar Proprietary Index Data Source: ©2023 Morningstar. All Rights
Reserved. The mutual fund and Morningstar proprietary index information contained herein: (1) is
proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3)
is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers
are responsible for any damages or losses arising from any use of this information. All other Index
Source, Lipper, a Thomson Reuters Company. Copyright 2023 © Thomson Reuters. All rights
reserved.
Symbol
Type
Inception Date
Family
Manager
Tenure
Website
None
Collective
2020­05­20
Wilmington Trust, N.A
Cope/John
2.26 Years
The Fund seeks to deliver capital appreciation by
investing in the American Century US Small Cap Value
Equity Trust ("Underlying Fund"), for which SEI Trust
Company is trustee and American Century Investment
Management, Inc. is subadviser. The Underlying Fund
invests in value­oriented common stocks of small sized
U.S. companies similar in size, at the time of purchase,
to those in the Russell 2000 Value Index.
1 Year Return
3 Year Return
5 Year Return
10 Year Return
Fund
­14.27 %
N/A
N/A
N/A
American Century US Small Cp Val Eq Tr R
Cash
Category Benchmark
­14.28 %
6.03 %
3.43 %
8.31 %
Fees and Expenses
­14.48 %
4.70 %
4.13 %
8.48 %
Prospectus Gross Expense Ratio
Annual Expense per $1,000 Invested
0.590 %
$5.90
Prospectus Net Expense Ratio
Annual Expense per $1,000 Invested
0.590 %
$5.90
12b1 Expense
Sales Charge
Deferred Sales Charge
Lg
0.0 %
0.0 %
0.0 %
Mid
1.3 %
10.3 %
10.3 %
Sm
1.2 %
33.2 %
43.8 %
Value
Blend
Growth
US Stocks
Non­US Stocks
Bonds
Cash
Other
91.0 %
7.3 %
0.0 %
1.6 %
0.0 %
Top 5 Holdings
www.flexpathstrategies.com
Total Return
98.4 %
0.1 %
0.5 %
Total Return data as of 12/31/2022
Fund Description
Not Available
Small Value
Russell 2000 Value TR
$193.59 Million
39.00 %
Investment by Region
The cumulative effect of investment fees and expenses can substantially reduce your retirement
savings. However, fees and expenses are only two of many factors to consider when deciding what
investment is appropriate for you. For additional information concerning the long­term effect of fees
and expenses, visit the US DOL web site at
http://www.dol.gov/ebsa/publications/401k_employee.html.
Small Cap Value Fund II CL R1
Objective
Category
Benchmark Index
Total Assets
Turnover Ratio
98.4 %
1.6 %
0.0 %
0.0 %
0.0 %
Top 5 Holdings
None
None
None
Fund Overview
US Stocks
Non­US Stocks
Bonds
Cash
Other
None
None
None
100.05 %
0.05 %
The cumulative effect of investment fees and expenses can substantially reduce your retirement
savings. However, fees and expenses are only two of many factors to consider when deciding what
investment is appropriate for you. For additional information concerning the long­term effect of fees
and expenses, visit the US DOL web site at
http://www.dol.gov/ebsa/publications/401k_employee.html.
The performance data quoted represents past performance and does not guarantee future
results.Equals The investment return and principal value of an investment will fluctuate thus an
investor's shares, when redeemed, may be worth more or less than their original cost. Performance
data assumes reinvestment of dividends and capital gains.
Mutual Fund and Morningstar Proprietary Index Data Source: ©2023 Morningstar. All Rights
Reserved. The mutual fund and Morningstar proprietary index information contained herein: (1) is
proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3)
is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers
are responsible for any damages or losses arising from any use of this information. All other Index
Source, Lipper, a Thomson Reuters Company. Copyright 2023 © Thomson Reuters. All rights
reserved.
Investment by Region
Americas
Greater Europe
Greater Asia
97.0 %
1.0 %
1.9 %
US Stock Asset Classes
Lg
0.0 %
0.0 %
0.0 %
Mid
5.8 %
6.8 %
1.9 %
Sm
43.3 %
36.8 %
5.4 %
Value
Blend
Growth
Reliance MetLife Series 25053 Cl 0
Fund Overview
Total Return data as of 12/31/2022
Fund Description
Objective
Category
Benchmark Index
Total Assets
Turnover Ratio
Not Available
Stable Value
Morningstar USD 1M Cash TR
$4,066.79 Million
5.88 %
Symbol
Type
Inception Date
Family
Manager
Tenure
Website
None
Collective
1999­07­30
Reliance Trust Company
Team
23.44 Years
Fund
2.48 %
2.28 %
2.53 %
2.49 %
1 Year Return
3 Year Return
5 Year Return
10 Year Return
Category Benchmark
1.45 %
1.60 %
1.75 %
1.63 %
Fees and Expenses
1.67 %
0.75 %
1.29 %
0.83 %
Prospectus Gross Expense Ratio
Annual Expense per $1,000 Invested
0.610 %
$6.10
Prospectus Net Expense Ratio
Annual Expense per $1,000 Invested
0.610 %
$6.10
12b1 Expense
Sales Charge
Deferred Sales Charge
Investment Payable
Dreyfus Instl Preferred Govt MMkt Instl
United States Treasury Notes 3.125%
Investment Receivable
United States Treasury Bonds 2%
6.04 %
4.83 %
2.31 %
1.86 %
1.55 %
The cumulative effect of investment fees and expenses can substantially reduce your retirement
savings. However, fees and expenses are only two of many factors to consider when deciding what
investment is appropriate for you. For additional information concerning the long­term effect of fees
and expenses, visit the US DOL web site at
http://www.dol.gov/ebsa/publications/401k_employee.html.
The performance data quoted represents past performance and does not guarantee future
results.Equals The investment return and principal value of an investment will fluctuate thus an
investor's shares, when redeemed, may be worth more or less than their original cost. Performance
data assumes reinvestment of dividends and capital gains.
Americas
Greater Europe
Greater Asia
Not Classified
0.0 %
0.0 %
0.0 %
100.0 %
Total Return data as of 12/31/2022
Fund Description
Objective
Category
Benchmark Index
Total Assets
Turnover Ratio
Not Available
Target­Date 2025
Morningstar Mod Tgt Risk TR USD
$35.74 Million
3.10 %
Symbol
Type
Inception Date
Family
Manager
Tenure
Website
None
Collective
2016­05­02
Wilmington Trust, N.A
Team
6.67 Years
Fund
­16.00 %
1.98 %
3.87 %
N/A
Category Benchmark
­14.47 %
1.93 %
3.30 %
6.07 %
Fees and Expenses
Each flexPATH strategy seeks to provide long­term
investors with an asset allocation strategy designed to
maximize assets for retirement consistent with the risk
level and projected retirement date associated with
each fund. The Funds are designed to automatically
adjust their risk over time in order to reduce the risk of
investment in equity securities and shift from a focus on
capital appreciation to one of capital preservation, while
maintaining some exposure to capital appreciation
asset classes.
US Stocks
Non­US Stocks
Bonds
Cash
Other
37.2 %
21.8 %
32.8 %
2.9 %
5.2 %
Top 5 Holdings
www.flexpathstrategies.com
­14.77 %
1.95 %
3.73 %
5.82 %
Prospectus Gross Expense Ratio
Annual Expense per $1,000 Invested
0.127 %
$1.27
Prospectus Net Expense Ratio
Annual Expense per $1,000 Invested
0.127 %
$1.27
12b1 Expense
Sales Charge
Deferred Sales Charge
Investment by Region
None
None
None
Fund Overview
1 Year Return
3 Year Return
5 Year Return
10 Year Return
0.0 %
0.0 %
97.0 %
1.5 %
1.5 %
Mutual Fund and Morningstar Proprietary Index Data Source: ©2023 Morningstar. All Rights
Reserved. The mutual fund and Morningstar proprietary index information contained herein: (1) is
proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3)
is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers
are responsible for any damages or losses arising from any use of this information. All other Index
Source, Lipper, a Thomson Reuters Company. Copyright 2023 © Thomson Reuters. All rights
reserved.
flexPATH Index Agg 2025 Fund CL R1
Total Return
US Stocks
Non­US Stocks
Bonds
Cash
Other
Top 5 Holdings
http://www.reliance­trust.com/
Total Return
The primary investment objective of the Fund is to
preserve principal while generating earnings at rates
competitive over time with short­term high quality fixed
income investments, while maintaining sufficient
liquidity to provide Participant­Directed Withdrawals (as
defined in the Declaration of Trust) at their
proportionate share of Contract Value (as defined in the
Declaration of Trust)
None
None
None
BlackRock LifePath® Index 2030 F
BlackRock LifePath® Index 2035 F
Cash
80.98 %
19.11 %
0.08 %
The cumulative effect of investment fees and expenses can substantially reduce your retirement
savings. However, fees and expenses are only two of many factors to consider when deciding what
investment is appropriate for you. For additional information concerning the long­term effect of fees
and expenses, visit the US DOL web site at
http://www.dol.gov/ebsa/publications/401k_employee.html.
The performance data quoted represents past performance and does not guarantee future
results.Equals The investment return and principal value of an investment will fluctuate thus an
investor's shares, when redeemed, may be worth more or less than their original cost. Performance
data assumes reinvestment of dividends and capital gains.
Mutual Fund and Morningstar Proprietary Index Data Source: ©2023 Morningstar. All Rights
Reserved. The mutual fund and Morningstar proprietary index information contained herein: (1) is
proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3)
is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers
are responsible for any damages or losses arising from any use of this information. All other Index
Source, Lipper, a Thomson Reuters Company. Copyright 2023 © Thomson Reuters. All rights
reserved.
Investment by Region
Americas
Greater Europe
Greater Asia
Not Classified
64.0 %
14.7 %
9.3 %
12.0 %
US Stock Asset Classes
Lg
16.8 %
27.1 %
28.1 %
Mid
5.6 %
10.0 %
5.0 %
Sm
2.3 %
3.4 %
1.6 %
Value
Blend
Growth
flexPATH Index Cons 2025 Fund CL R1
Fund Overview
Total Return data as of 12/31/2022
Fund Description
Objective
Category
Benchmark Index
Total Assets
Turnover Ratio
Not Available
Target­Date 2025
Morningstar Mod Con Tgt Risk TR
$29.60 Million
1.50 %
Symbol
Type
Inception Date
Family
Manager
Tenure
Website
None
Collective
2016­05­02
Wilmington Trust, N.A
Team
6.67 Years
Fund
­14.32 %
0.36 %
2.37 %
N/A
1 Year Return
3 Year Return
5 Year Return
10 Year Return
Category Benchmark
­14.47 %
1.93 %
3.30 %
6.07 %
Fees and Expenses
­13.85 %
0.83 %
2.79 %
4.30 %
Prospectus Gross Expense Ratio
Annual Expense per $1,000 Invested
0.127 %
$1.27
Prospectus Net Expense Ratio
Annual Expense per $1,000 Invested
0.127 %
$1.27
12b1 Expense
Sales Charge
Deferred Sales Charge
BlackRock LifePath® Index Conserv 2025 F
Cash
The cumulative effect of investment fees and expenses can substantially reduce your retirement
savings. However, fees and expenses are only two of many factors to consider when deciding what
investment is appropriate for you. For additional information concerning the long­term effect of fees
and expenses, visit the US DOL web site at
http://www.dol.gov/ebsa/publications/401k_employee.html.
The performance data quoted represents past performance and does not guarantee future
results.Equals The investment return and principal value of an investment will fluctuate thus an
investor's shares, when redeemed, may be worth more or less than their original cost. Performance
data assumes reinvestment of dividends and capital gains.
Mutual Fund and Morningstar Proprietary Index Data Source: ©2023 Morningstar. All Rights
Reserved. The mutual fund and Morningstar proprietary index information contained herein: (1) is
proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3)
is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers
are responsible for any damages or losses arising from any use of this information. All other Index
Source, Lipper, a Thomson Reuters Company. Copyright 2023 © Thomson Reuters. All rights
reserved.
None
None
None
Fund Overview
Not Available
Target­Date 2025
Morningstar Gbl Allocation TR USD
$397.66 Million
2.54 %
Symbol
Type
Inception Date
Family
Manager
Tenure
Website
None
Collective
2015­05­18
Wilmington Trust, N.A
Team
7.59 Years
Fund
Category Benchmark
­14.47 %
1.93 %
3.30 %
6.07 %
Fees and Expenses
­17.10 %
0.95 %
2.86 %
5.20 %
Prospectus Gross Expense Ratio
Annual Expense per $1,000 Invested
0.126 %
$1.26
Prospectus Net Expense Ratio
Annual Expense per $1,000 Invested
0.126 %
$1.26
12b1 Expense
Sales Charge
Deferred Sales Charge
Americas
Greater Europe
Greater Asia
Not Classified
66.1 %
13.8 %
8.8 %
11.3 %
US Stock Asset Classes
Lg
16.1 %
24.9 %
25.5 %
Mid
5.4 %
9.7 %
4.7 %
Sm
4.3 %
6.1 %
3.2 %
Value
Blend
Growth
Each flexPATH strategy seeks to provide long­term
investors with an asset allocation strategy designed to
maximize assets for retirement consistent with the risk
level and projected retirement date associated with
each fund. The Funds are designed to automatically
adjust their risk over time in order to reduce the risk of
investment inequity securities and shift from a focus on
capital appreciation to one of capital preservation, while
maintaining some exposure to capital appreciation
asset classes.
US Stocks
Non­US Stocks
Bonds
Cash
Other
28.2 %
16.0 %
45.0 %
3.6 %
7.0 %
Top 5 Holdings
www.flexpathstrategies.com
­15.29 %
1.15 %
3.11 %
N/A
Investment by Region
Total Return data as of 12/31/2022
Fund Description
Objective
Category
Benchmark Index
Total Assets
Turnover Ratio
1 Year Return
3 Year Return
5 Year Return
10 Year Return
20.3 %
10.8 %
58.4 %
4.0 %
6.3 %
100.11 %
0.11 %
flexPATH Index Mod 2025 Fund CL R1
Total Return
US Stocks
Non­US Stocks
Bonds
Cash
Other
Top 5 Holdings
www.flexpathstrategies.com
Total Return
Each flexPATH strategy seeks to provide long­term
investors with an asset allocation strategy designed to
maximize assets for retirement consistent with the risk
level and projected retirement date associated with
each fund. The Funds are designed to automatically
adjust their risk over time in order to reduce the risk of
investment inequity securities and shift from a focus on
capital appreciation to one of capital preservation, while
maintaining some exposure to capital appreciation
asset classes.
None
None
None
BlackRock LifePath® Index 2025 F
Cash
100.10 %
0.10 %
The cumulative effect of investment fees and expenses can substantially reduce your retirement
savings. However, fees and expenses are only two of many factors to consider when deciding what
investment is appropriate for you. For additional information concerning the long­term effect of fees
and expenses, visit the US DOL web site at
http://www.dol.gov/ebsa/publications/401k_employee.html.
The performance data quoted represents past performance and does not guarantee future
results.Equals The investment return and principal value of an investment will fluctuate thus an
investor's shares, when redeemed, may be worth more or less than their original cost. Performance
data assumes reinvestment of dividends and capital gains.
Mutual Fund and Morningstar Proprietary Index Data Source: ©2023 Morningstar. All Rights
Reserved. The mutual fund and Morningstar proprietary index information contained herein: (1) is
proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3)
is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers
are responsible for any damages or losses arising from any use of this information. All other Index
Source, Lipper, a Thomson Reuters Company. Copyright 2023 © Thomson Reuters. All rights
reserved.
Investment by Region
Americas
Greater Europe
Greater Asia
Not Classified
64.8 %
14.4 %
9.1 %
11.7 %
US Stock Asset Classes
Lg
16.4 %
26.4 %
27.3 %
Mid
5.5 %
9.8 %
4.9 %
Sm
3.0 %
4.4 %
2.2 %
Value
Blend
Growth
flexPATH Index Cons 2035 Fund CL R1
Fund Overview
Total Return data as of 12/31/2022
Fund Description
Objective
Category
Benchmark Index
Total Assets
Turnover Ratio
Not Available
Target­Date 2035
Morningstar Gbl Allocation TR USD
$37.90 Million
1.88 %
Symbol
Type
Inception Date
Family
Manager
Tenure
Website
None
Collective
2016­05­02
Wilmington Trust, N.A
Team
6.67 Years
Fund
­15.46 %
1.21 %
3.16 %
N/A
1 Year Return
3 Year Return
5 Year Return
10 Year Return
Category Benchmark
­16.61 %
2.93 %
4.19 %
7.29 %
Fees and Expenses
­17.10 %
0.95 %
2.86 %
5.20 %
Prospectus Gross Expense Ratio
Annual Expense per $1,000 Invested
0.129 %
$1.29
Prospectus Net Expense Ratio
Annual Expense per $1,000 Invested
0.129 %
$1.29
12b1 Expense
Sales Charge
Deferred Sales Charge
BlackRock LifePath® Index Conserv 2035 F
Cash
The cumulative effect of investment fees and expenses can substantially reduce your retirement
savings. However, fees and expenses are only two of many factors to consider when deciding what
investment is appropriate for you. For additional information concerning the long­term effect of fees
and expenses, visit the US DOL web site at
http://www.dol.gov/ebsa/publications/401k_employee.html.
The performance data quoted represents past performance and does not guarantee future
results.Equals The investment return and principal value of an investment will fluctuate thus an
investor's shares, when redeemed, may be worth more or less than their original cost. Performance
data assumes reinvestment of dividends and capital gains.
Mutual Fund and Morningstar Proprietary Index Data Source: ©2023 Morningstar. All Rights
Reserved. The mutual fund and Morningstar proprietary index information contained herein: (1) is
proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3)
is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers
are responsible for any damages or losses arising from any use of this information. All other Index
Source, Lipper, a Thomson Reuters Company. Copyright 2023 © Thomson Reuters. All rights
reserved.
None
None
None
Fund Overview
Not Available
Target­Date 2035
Morningstar Lifetime Mod 2035 TR
$456.72 Million
2.36 %
Symbol
Type
Inception Date
Family
Manager
Tenure
Website
None
Collective
2015­05­18
Wilmington Trust, N.A
Team
7.59 Years
Fund
Category Benchmark
­16.61 %
2.93 %
4.19 %
7.29 %
Fees and Expenses
­17.75 %
1.95 %
3.97 %
7.14 %
Prospectus Gross Expense Ratio
Annual Expense per $1,000 Invested
0.127 %
$1.27
Prospectus Net Expense Ratio
Annual Expense per $1,000 Invested
0.127 %
$1.27
12b1 Expense
Sales Charge
Deferred Sales Charge
Americas
Greater Europe
Greater Asia
Not Classified
64.7 %
14.5 %
9.1 %
11.7 %
US Stock Asset Classes
Lg
17.1 %
26.5 %
27.2 %
Mid
5.6 %
9.9 %
4.8 %
Sm
2.8 %
4.1 %
2.0 %
Value
Blend
Growth
Each flexPATH strategy seeks to provide long­term
investors with an asset allocation strategy designed to
maximize assets for retirement consistent with the risk
level and projected retirement date associated with
each fund. The Funds are designed to automatically
adjust their risk over time in order to reduce the risk of
investment inequity securities and shift from a focus on
capital appreciation to one of capital preservation, while
maintaining some exposure to capital appreciation
asset classes.
US Stocks
Non­US Stocks
Bonds
Cash
Other
43.1 %
25.6 %
24.7 %
2.5 %
4.1 %
Top 5 Holdings
www.flexpathstrategies.com
­16.73 %
2.44 %
4.28 %
N/A
Investment by Region
Total Return data as of 12/31/2022
Fund Description
Objective
Category
Benchmark Index
Total Assets
Turnover Ratio
1 Year Return
3 Year Return
5 Year Return
10 Year Return
30.1 %
17.1 %
42.9 %
3.4 %
6.4 %
100.09 %
0.09 %
flexPATH Index Mod 2035 Fund CL R1
Total Return
US Stocks
Non­US Stocks
Bonds
Cash
Other
Top 5 Holdings
www.flexpathstrategies.com
Total Return
Each flexPATH strategy seeks to provide long­term
investors with an asset allocation strategy designed to
maximize assets for retirement consistent with the risk
level and projected retirement date associated with
each fund. The Funds are designed to automatically
adjust their risk over time in order to reduce the risk of
investment inequity securities and shift from a focus on
capital appreciation to one of capital preservation, while
maintaining some exposure to capital appreciation
asset classes.
None
None
None
BlackRock LifePath® Index 2035 F
Cash
100.09 %
0.09 %
The cumulative effect of investment fees and expenses can substantially reduce your retirement
savings. However, fees and expenses are only two of many factors to consider when deciding what
investment is appropriate for you. For additional information concerning the long­term effect of fees
and expenses, visit the US DOL web site at
http://www.dol.gov/ebsa/publications/401k_employee.html.
The performance data quoted represents past performance and does not guarantee future
results.Equals The investment return and principal value of an investment will fluctuate thus an
investor's shares, when redeemed, may be worth more or less than their original cost. Performance
data assumes reinvestment of dividends and capital gains.
Mutual Fund and Morningstar Proprietary Index Data Source: ©2023 Morningstar. All Rights
Reserved. The mutual fund and Morningstar proprietary index information contained herein: (1) is
proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3)
is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers
are responsible for any damages or losses arising from any use of this information. All other Index
Source, Lipper, a Thomson Reuters Company. Copyright 2023 © Thomson Reuters. All rights
reserved.
Investment by Region
Americas
Greater Europe
Greater Asia
Not Classified
63.7 %
14.9 %
9.4 %
12.0 %
US Stock Asset Classes
Lg
17.0 %
27.4 %
28.3 %
Mid
5.7 %
10.2 %
5.0 %
Sm
2.0 %
3.0 %
1.4 %
Value
Blend
Growth
flexPATH Index Agg 2035 Fund CL R1
Fund Overview
Total Return data as of 12/31/2022
Fund Description
Objective
Category
Benchmark Index
Total Assets
Turnover Ratio
Not Available
Target­Date 2035
MSCI ACWI NR USD
$69.78 Million
1.60 %
Symbol
Type
Inception Date
Family
Manager
Tenure
Website
None
Collective
2016­05­02
Wilmington Trust, N.A
Team
6.67 Years
Each flexPATH strategy seeks to provide long­term
investors with an asset allocation strategy designed to
maximize assets for retirement consistent with the risk
level and projected retirement date associated with
each fund. The Funds are designed to automatically
adjust their risk over time in order to reduce the risk of
investment in equity securities and shift from a focus on
capital appreciation to one of capital preservation, while
maintaining some exposure to capital appreciation
asset classes.
Fund
­17.61 %
3.16 %
4.90 %
N/A
1 Year Return
3 Year Return
5 Year Return
10 Year Return
Category Benchmark
­16.61 %
2.93 %
4.19 %
7.29 %
Fees and Expenses
­18.36 %
4.00 %
5.23 %
7.98 %
Prospectus Gross Expense Ratio
Annual Expense per $1,000 Invested
0.128 %
$1.28
Prospectus Net Expense Ratio
Annual Expense per $1,000 Invested
0.128 %
$1.28
12b1 Expense
Sales Charge
Deferred Sales Charge
BlackRock LifePath® Index 2040 F
BlackRock LifePath® Index 2045 F
Cash
62.14 %
37.93 %
0.07 %
The cumulative effect of investment fees and expenses can substantially reduce your retirement
savings. However, fees and expenses are only two of many factors to consider when deciding what
investment is appropriate for you. For additional information concerning the long­term effect of fees
and expenses, visit the US DOL web site at
http://www.dol.gov/ebsa/publications/401k_employee.html.
The performance data quoted represents past performance and does not guarantee future
results.Equals The investment return and principal value of an investment will fluctuate thus an
investor's shares, when redeemed, may be worth more or less than their original cost. Performance
data assumes reinvestment of dividends and capital gains.
Mutual Fund and Morningstar Proprietary Index Data Source: ©2023 Morningstar. All Rights
Reserved. The mutual fund and Morningstar proprietary index information contained herein: (1) is
proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3)
is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers
are responsible for any damages or losses arising from any use of this information. All other Index
Source, Lipper, a Thomson Reuters Company. Copyright 2023 © Thomson Reuters. All rights
reserved.
None
None
None
flexPATH Index Agg 2045 Fund CL R1
Fund Overview
Not Available
Target­Date 2045
Morningstar Gbl TME NR USD
$74.16 Million
0.42 %
Symbol
Type
Inception Date
Family
Manager
Tenure
Website
None
Collective
2016­05­02
Wilmington Trust, N.A
Team
6.67 Years
Fund
­18.28 %
3.74 %
5.34 %
N/A
Category Benchmark
­17.99 %
3.60 %
4.77 %
7.88 %
Fees and Expenses
­18.04 %
4.02 %
5.27 %
7.99 %
Prospectus Gross Expense Ratio
Annual Expense per $1,000 Invested
0.129 %
$1.29
Prospectus Net Expense Ratio
Annual Expense per $1,000 Invested
0.129 %
$1.29
12b1 Expense
Sales Charge
Deferred Sales Charge
Americas
Greater Europe
Greater Asia
Not Classified
63.3 %
15.0 %
9.5 %
12.2 %
US Stock Asset Classes
Lg
17.2 %
27.7 %
28.7 %
Mid
5.7 %
10.2 %
5.0 %
Sm
1.7 %
2.6 %
1.2 %
Value
Blend
Growth
Each flexPATH strategy seeks to provide long­term
investors with an asset allocation strategy designed to
maximize assets for retirement consistent with the risk
level and projected retirement date associated with
each fund. The Funds are designed to automatically
adjust their risk over time in order to reduce the risk of
investment in equity securities and shift from a focus on
capital appreciation to one of capital preservation, while
maintaining some exposure to capital appreciation
asset classes.
US Stocks
Non­US Stocks
Bonds
Cash
Other
59.9 %
36.6 %
2.6 %
0.8 %
0.1 %
Top 5 Holdings
www.flexpathstrategies.com
1 Year Return
3 Year Return
5 Year Return
10 Year Return
Investment by Region
Total Return data as of 12/31/2022
Fund Description
Objective
Category
Benchmark Index
Total Assets
Turnover Ratio
Total Return
52.3 %
31.6 %
12.6 %
1.7 %
1.8 %
Top 5 Holdings
www.flexpathstrategies.com
Total Return
US Stocks
Non­US Stocks
Bonds
Cash
Other
None
None
None
BlackRock LifePath® Index 2050 F
BlackRock LifePath® Index 2055 F
Cash
90.16 %
9.91 %
0.07 %
The cumulative effect of investment fees and expenses can substantially reduce your retirement
savings. However, fees and expenses are only two of many factors to consider when deciding what
investment is appropriate for you. For additional information concerning the long­term effect of fees
and expenses, visit the US DOL web site at
http://www.dol.gov/ebsa/publications/401k_employee.html.
The performance data quoted represents past performance and does not guarantee future
results.Equals The investment return and principal value of an investment will fluctuate thus an
investor's shares, when redeemed, may be worth more or less than their original cost. Performance
data assumes reinvestment of dividends and capital gains.
Mutual Fund and Morningstar Proprietary Index Data Source: ©2023 Morningstar. All Rights
Reserved. The mutual fund and Morningstar proprietary index information contained herein: (1) is
proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3)
is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers
are responsible for any damages or losses arising from any use of this information. All other Index
Source, Lipper, a Thomson Reuters Company. Copyright 2023 © Thomson Reuters. All rights
reserved.
Investment by Region
Americas
Greater Europe
Greater Asia
Not Classified
63.0 %
15.1 %
9.6 %
12.3 %
US Stock Asset Classes
Lg
17.3 %
27.8 %
28.8 %
Mid
5.8 %
10.3 %
5.0 %
Sm
1.6 %
2.4 %
1.0 %
Value
Blend
Growth
flexPATH Index Cons 2045 Fund CL R1
Fund Overview
Total Return data as of 12/31/2022
Fund Description
Objective
Category
Benchmark Index
Total Assets
Turnover Ratio
Not Available
Target­Date 2045
Morningstar Lifetime Mod 2035 TR
$40.62 Million
2.65 %
Symbol
Type
Inception Date
Family
Manager
Tenure
Website
None
Collective
2016­05­02
Wilmington Trust, N.A
Team
6.67 Years
Fund
­16.83 %
2.39 %
4.24 %
N/A
1 Year Return
3 Year Return
5 Year Return
10 Year Return
Category Benchmark
­17.99 %
3.60 %
4.77 %
7.88 %
Fees and Expenses
­17.75 %
1.95 %
3.97 %
7.14 %
Prospectus Gross Expense Ratio
Annual Expense per $1,000 Invested
0.130 %
$1.30
Prospectus Net Expense Ratio
Annual Expense per $1,000 Invested
0.130 %
$1.30
12b1 Expense
Sales Charge
Deferred Sales Charge
BlackRock LifePath® Index Conserv 2045 F
Cash
The cumulative effect of investment fees and expenses can substantially reduce your retirement
savings. However, fees and expenses are only two of many factors to consider when deciding what
investment is appropriate for you. For additional information concerning the long­term effect of fees
and expenses, visit the US DOL web site at
http://www.dol.gov/ebsa/publications/401k_employee.html.
The performance data quoted represents past performance and does not guarantee future
results.Equals The investment return and principal value of an investment will fluctuate thus an
investor's shares, when redeemed, may be worth more or less than their original cost. Performance
data assumes reinvestment of dividends and capital gains.
Mutual Fund and Morningstar Proprietary Index Data Source: ©2023 Morningstar. All Rights
Reserved. The mutual fund and Morningstar proprietary index information contained herein: (1) is
proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3)
is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers
are responsible for any damages or losses arising from any use of this information. All other Index
Source, Lipper, a Thomson Reuters Company. Copyright 2023 © Thomson Reuters. All rights
reserved.
flexPATH Index Mod 2045 Fund CL R1
Fund Overview
Symbol
Type
Inception Date
Family
Manager
Tenure
Website
None
Collective
2015­05­18
Wilmington Trust, N.A
Team
7.59 Years
Each flexPATH strategy seeks to provide long­term
investors with an asset allocation strategy designed to
maximize assets for retirement consistent with the risk
level and projected retirement date associated with
each fund. The Funds are designed to automatically
adjust their risk over time in order to reduce the risk of
investment inequity securities and shift from a focus on
capital appreciation to one of capital preservation, while
maintaining some exposure to capital appreciation
asset classes.
1 Year Return
3 Year Return
5 Year Return
10 Year Return
Fund
­17.95 %
3.47 %
5.15 %
N/A
Category Benchmark
­17.99 %
3.60 %
4.77 %
7.88 %
Fees and Expenses
­18.36 %
4.00 %
5.23 %
7.98 %
Prospectus Gross Expense Ratio
Annual Expense per $1,000 Invested
0.129 %
$1.29
Prospectus Net Expense Ratio
Annual Expense per $1,000 Invested
0.129 %
$1.29
12b1 Expense
Sales Charge
Deferred Sales Charge
Americas
Greater Europe
Greater Asia
Not Classified
63.7 %
14.9 %
9.4 %
12.0 %
US Stock Asset Classes
Lg
17.5 %
27.2 %
28.0 %
Mid
5.8 %
10.2 %
4.8 %
Sm
2.1 %
3.0 %
1.4 %
Value
Blend
Growth
US Stocks
Non­US Stocks
Bonds
Cash
Other
56.1 %
34.1 %
7.9 %
1.4 %
0.5 %
Top 5 Holdings
www.flexpathstrategies.com
Total Return
Investment by Region
Total Return data as of 12/31/2022
Fund Description
Not Available
Target­Date 2045
MSCI ACWI NR USD
$336.72 Million
1.36 %
43.8 %
26.0 %
23.9 %
2.2 %
3.9 %
100.08 %
0.08 %
None
None
None
Objective
Category
Benchmark Index
Total Assets
Turnover Ratio
US Stocks
Non­US Stocks
Bonds
Cash
Other
Top 5 Holdings
www.flexpathstrategies.com
Total Return
Each flexPATH strategy seeks to provide long­term
investors with an asset allocation strategy designed to
maximize assets for retirement consistent with the risk
level and projected retirement date associated with
each fund. The Funds are designed to automatically
adjust their risk over time in order to reduce the risk of
investment inequity securities and shift from a focus on
capital appreciation to one of capital preservation, while
maintaining some exposure to capital appreciation
asset classes.
None
None
None
BlackRock LifePath® Index 2045 F
Cash
100.08 %
0.08 %
The cumulative effect of investment fees and expenses can substantially reduce your retirement
savings. However, fees and expenses are only two of many factors to consider when deciding what
investment is appropriate for you. For additional information concerning the long­term effect of fees
and expenses, visit the US DOL web site at
http://www.dol.gov/ebsa/publications/401k_employee.html.
The performance data quoted represents past performance and does not guarantee future
results.Equals The investment return and principal value of an investment will fluctuate thus an
investor's shares, when redeemed, may be worth more or less than their original cost. Performance
data assumes reinvestment of dividends and capital gains.
Mutual Fund and Morningstar Proprietary Index Data Source: ©2023 Morningstar. All Rights
Reserved. The mutual fund and Morningstar proprietary index information contained herein: (1) is
proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3)
is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers
are responsible for any damages or losses arising from any use of this information. All other Index
Source, Lipper, a Thomson Reuters Company. Copyright 2023 © Thomson Reuters. All rights
reserved.
Investment by Region
Americas
Greater Europe
Greater Asia
Not Classified
63.2 %
15.1 %
9.5 %
12.2 %
US Stock Asset Classes
Lg
17.2 %
27.8 %
28.7 %
Mid
5.8 %
10.3 %
5.0 %
Sm
1.7 %
2.5 %
1.1 %
Value
Blend
Growth
flexPATH Index Agg 2055 Fund CL R1
Fund Overview
Total Return data as of 12/31/2022
Fund Description
Objective
Category
Benchmark Index
Total Assets
Turnover Ratio
Not Available
Target­Date 2055
Morningstar Gbl TME NR USD
$57.44 Million
Not Available
Symbol
Type
Inception Date
Family
Manager
Tenure
Website
None
Collective
2016­05­02
Wilmington Trust, N.A
Team
6.67 Years
Fund
­18.33 %
3.79 %
5.38 %
N/A
1 Year Return
3 Year Return
5 Year Return
10 Year Return
Category Benchmark
­18.50 %
3.79 %
4.95 %
8.11 %
Fees and Expenses
­18.04 %
4.02 %
5.27 %
7.99 %
Prospectus Gross Expense Ratio
Annual Expense per $1,000 Invested
0.129 %
$1.29
Prospectus Net Expense Ratio
Annual Expense per $1,000 Invested
0.129 %
$1.29
12b1 Expense
Sales Charge
Deferred Sales Charge
BlackRock LifePath® Index 2055 F
Cash
The cumulative effect of investment fees and expenses can substantially reduce your retirement
savings. However, fees and expenses are only two of many factors to consider when deciding what
investment is appropriate for you. For additional information concerning the long­term effect of fees
and expenses, visit the US DOL web site at
http://www.dol.gov/ebsa/publications/401k_employee.html.
The performance data quoted represents past performance and does not guarantee future
results.Equals The investment return and principal value of an investment will fluctuate thus an
investor's shares, when redeemed, may be worth more or less than their original cost. Performance
data assumes reinvestment of dividends and capital gains.
Mutual Fund and Morningstar Proprietary Index Data Source: ©2023 Morningstar. All Rights
Reserved. The mutual fund and Morningstar proprietary index information contained herein: (1) is
proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3)
is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers
are responsible for any damages or losses arising from any use of this information. All other Index
Source, Lipper, a Thomson Reuters Company. Copyright 2023 © Thomson Reuters. All rights
reserved.
None
None
None
Fund Overview
Not Available
Target­Date 2055
Morningstar Gbl TME NR USD
$29.27 Million
0.91 %
Symbol
Type
Inception Date
Family
Manager
Tenure
Website
None
Collective
2016­05­02
Wilmington Trust, N.A
Team
6.67 Years
Fund
Category Benchmark
­18.50 %
3.79 %
4.95 %
8.11 %
Fees and Expenses
­18.04 %
4.02 %
5.27 %
7.99 %
Prospectus Gross Expense Ratio
Annual Expense per $1,000 Invested
0.130 %
$1.30
Prospectus Net Expense Ratio
Annual Expense per $1,000 Invested
0.130 %
$1.30
12b1 Expense
Sales Charge
Deferred Sales Charge
Americas
Greater Europe
Greater Asia
Not Classified
63.0 %
15.2 %
9.6 %
12.3 %
US Stock Asset Classes
Lg
17.3 %
27.9 %
28.8 %
Mid
5.8 %
10.3 %
5.0 %
Sm
1.6 %
2.4 %
1.0 %
Value
Blend
Growth
Each flexPATH strategy seeks to provide long­term
investors with an asset allocation strategy designed to
maximize assets for retirement consistent with the risk
level and projected retirement date associated with
each fund. The Funds are designed to automatically
adjust their risk over time in order to reduce the risk of
investment inequity securities and shift from a focus on
capital appreciation to one of capital preservation, while
maintaining some exposure to capital appreciation
asset classes.
US Stocks
Non­US Stocks
Bonds
Cash
Other
59.1 %
36.0 %
4.1 %
0.7 %
0.1 %
Top 5 Holdings
www.flexpathstrategies.com
­18.21 %
3.69 %
5.28 %
N/A
Investment by Region
Total Return data as of 12/31/2022
Fund Description
Objective
Category
Benchmark Index
Total Assets
Turnover Ratio
1 Year Return
3 Year Return
5 Year Return
10 Year Return
60.9 %
37.3 %
1.0 %
0.7 %
0.0 %
100.06 %
0.06 %
flexPATH Index Cons 2055 Fund CL R1
Total Return
US Stocks
Non­US Stocks
Bonds
Cash
Other
Top 5 Holdings
www.flexpathstrategies.com
Total Return
Each flexPATH strategy seeks to provide long­term
investors with an asset allocation strategy designed to
maximize assets for retirement consistent with the risk
level and projected retirement date associated with
each fund. The Funds are designed to automatically
adjust their risk over time in order to reduce the risk of
investment in equity securities and shift from a focus on
capital appreciation to one of capital preservation, while
maintaining some exposure to capital appreciation
asset classes.
None
None
None
BlackRock LifePath® Index Conserv 2055 F
Cash
100.08 %
0.08 %
The cumulative effect of investment fees and expenses can substantially reduce your retirement
savings. However, fees and expenses are only two of many factors to consider when deciding what
investment is appropriate for you. For additional information concerning the long­term effect of fees
and expenses, visit the US DOL web site at
http://www.dol.gov/ebsa/publications/401k_employee.html.
The performance data quoted represents past performance and does not guarantee future
results.Equals The investment return and principal value of an investment will fluctuate thus an
investor's shares, when redeemed, may be worth more or less than their original cost. Performance
data assumes reinvestment of dividends and capital gains.
Mutual Fund and Morningstar Proprietary Index Data Source: ©2023 Morningstar. All Rights
Reserved. The mutual fund and Morningstar proprietary index information contained herein: (1) is
proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3)
is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers
are responsible for any damages or losses arising from any use of this information. All other Index
Source, Lipper, a Thomson Reuters Company. Copyright 2023 © Thomson Reuters. All rights
reserved.
Investment by Region
Americas
Greater Europe
Greater Asia
Not Classified
63.1 %
15.1 %
9.5 %
12.2 %
US Stock Asset Classes
Lg
17.8 %
27.6 %
28.4 %
Mid
5.9 %
10.3 %
4.9 %
Sm
1.7 %
2.5 %
1.1 %
Value
Blend
Growth
flexPATH Index Mod 2055 Fund CL R1
Fund Overview
Total Return data as of 12/31/2022
Fund Description
Objective
Category
Benchmark Index
Total Assets
Turnover Ratio
Not Available
Target­Date 2055
Morningstar Gbl TME NR USD
$202.66 Million
Not Available
Symbol
Type
Inception Date
Family
Manager
Tenure
Website
None
Collective
2015­05­18
Wilmington Trust, N.A
Team
7.59 Years
Fund
­18.33 %
3.78 %
5.37 %
N/A
1 Year Return
3 Year Return
5 Year Return
10 Year Return
Category Benchmark
­18.50 %
3.79 %
4.95 %
8.11 %
Fees and Expenses
­18.04 %
4.02 %
5.27 %
7.99 %
Prospectus Gross Expense Ratio
Annual Expense per $1,000 Invested
0.129 %
$1.29
Prospectus Net Expense Ratio
Annual Expense per $1,000 Invested
0.129 %
$1.29
12b1 Expense
Sales Charge
Deferred Sales Charge
BlackRock LifePath® Index 2055 F
Cash
The cumulative effect of investment fees and expenses can substantially reduce your retirement
savings. However, fees and expenses are only two of many factors to consider when deciding what
investment is appropriate for you. For additional information concerning the long­term effect of fees
and expenses, visit the US DOL web site at
http://www.dol.gov/ebsa/publications/401k_employee.html.
The performance data quoted represents past performance and does not guarantee future
results.Equals The investment return and principal value of an investment will fluctuate thus an
investor's shares, when redeemed, may be worth more or less than their original cost. Performance
data assumes reinvestment of dividends and capital gains.
Mutual Fund and Morningstar Proprietary Index Data Source: ©2023 Morningstar. All Rights
Reserved. The mutual fund and Morningstar proprietary index information contained herein: (1) is
proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3)
is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers
are responsible for any damages or losses arising from any use of this information. All other Index
Source, Lipper, a Thomson Reuters Company. Copyright 2023 © Thomson Reuters. All rights
reserved.
None
None
None
Fund Overview
Not Available
Target­Date 2065+
Morningstar Lifetime Mod 2060 TR
$0.14 Million
Not Available
Symbol
Type
Inception Date
Family
Manager
Tenure
Website
None
Collective
2022­01­18
Wilmington Trust, N.A
Team
.95 Years
N/A
N/A
N/A
N/A
Category Benchmark
­18.61 %
4.04 %
5.46 %
0.00 %
Fees and Expenses
­16.98 %
2.92 %
4.46 %
7.49 %
Prospectus Gross Expense Ratio
Annual Expense per $1,000 Invested
0.130 %
$1.30
Prospectus Net Expense Ratio
Annual Expense per $1,000 Invested
0.130 %
$1.30
12b1 Expense
Sales Charge
Deferred Sales Charge
Americas
Greater Europe
Greater Asia
Not Classified
63.0 %
15.2 %
9.6 %
12.3 %
US Stock Asset Classes
Lg
17.3 %
27.9 %
28.8 %
Mid
5.8 %
10.3 %
5.0 %
Sm
1.6 %
2.4 %
1.0 %
Value
Blend
Growth
Each flexPATH strategy seeks to provide long­term
investors with an asset allocation strategy designed to
maximize assets for retirement consistent with the risk
level and projected retirement date associated with
each fund. The Funds are designed to automatically
adjust their risk over time in order to reduce the risk of
investment in equity securities and shift from a focus on
capital appreciation to one of capital preservation, while
maintaining some exposure to capital appreciation
asset classes.
US Stocks
Non­US Stocks
Bonds
Cash
Other
60.9 %
37.3 %
1.0 %
0.7 %
0.0 %
Top 5 Holdings
www.flexpathstrategies.com
Fund
Investment by Region
Total Return data as of 12/31/2022
Fund Description
Objective
Category
Benchmark Index
Total Assets
Turnover Ratio
1 Year Return
3 Year Return
5 Year Return
10 Year Return
60.9 %
37.3 %
1.0 %
0.7 %
0.0 %
100.07 %
0.07 %
flexPATH Index Agg 2065 Fund CL R1
Total Return
US Stocks
Non­US Stocks
Bonds
Cash
Other
Top 5 Holdings
www.flexpathstrategies.com
Total Return
Each flexPATH strategy seeks to provide long­term
investors with an asset allocation strategy designed to
maximize assets for retirement consistent with the risk
level and projected retirement date associated with
each fund. The Funds are designed to automatically
adjust their risk over time in order to reduce the risk of
investment inequity securities and shift from a focus on
capital appreciation to one of capital preservation, while
maintaining some exposure to capital appreciation
asset classes.
None
None
None
BlackRock LifePath® Index 2065 F
Cash
100.01 %
0.01 %
The cumulative effect of investment fees and expenses can substantially reduce your retirement
savings. However, fees and expenses are only two of many factors to consider when deciding what
investment is appropriate for you. For additional information concerning the long­term effect of fees
and expenses, visit the US DOL web site at
http://www.dol.gov/ebsa/publications/401k_employee.html.
The performance data quoted represents past performance and does not guarantee future
results.Equals The investment return and principal value of an investment will fluctuate thus an
investor's shares, when redeemed, may be worth more or less than their original cost. Performance
data assumes reinvestment of dividends and capital gains.
Mutual Fund and Morningstar Proprietary Index Data Source: ©2023 Morningstar. All Rights
Reserved. The mutual fund and Morningstar proprietary index information contained herein: (1) is
proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3)
is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers
are responsible for any damages or losses arising from any use of this information. All other Index
Source, Lipper, a Thomson Reuters Company. Copyright 2023 © Thomson Reuters. All rights
reserved.
Investment by Region
Americas
Greater Europe
Greater Asia
Not Classified
63.0 %
15.2 %
9.6 %
12.3 %
US Stock Asset Classes
Lg
17.3 %
27.8 %
28.8 %
Mid
5.8 %
10.3 %
5.0 %
Sm
1.6 %
2.5 %
1.0 %
Value
Blend
Growth
flexPATH Index Mod 2065 Fd Fee Cl R1
Fund Overview
Total Return data as of 12/31/2022
Fund Description
Objective
Category
Benchmark Index
Total Assets
Turnover Ratio
Not Available
Target­Date 2065+
Morningstar Lifetime Mod 2060 TR
$5.32 Million
Not Available
Symbol
Type
Inception Date
Family
Manager
Tenure
Website
None
Collective
2022­04­11
Wilmington Trust, N.A
Team
.72 Years
Fund
­18.29 %
N/A
N/A
N/A
1 Year Return
3 Year Return
5 Year Return
10 Year Return
Category Benchmark
­18.61 %
4.04 %
5.46 %
0.00 %
Fees and Expenses
­16.98 %
2.92 %
4.46 %
7.49 %
Prospectus Gross Expense Ratio
Annual Expense per $1,000 Invested
0.130 %
$1.30
Prospectus Net Expense Ratio
Annual Expense per $1,000 Invested
0.130 %
$1.30
12b1 Expense
Sales Charge
Deferred Sales Charge
BlackRock LifePath® Index 2065 F
Cash
The cumulative effect of investment fees and expenses can substantially reduce your retirement
savings. However, fees and expenses are only two of many factors to consider when deciding what
investment is appropriate for you. For additional information concerning the long­term effect of fees
and expenses, visit the US DOL web site at
http://www.dol.gov/ebsa/publications/401k_employee.html.
The performance data quoted represents past performance and does not guarantee future
results.Equals The investment return and principal value of an investment will fluctuate thus an
investor's shares, when redeemed, may be worth more or less than their original cost. Performance
data assumes reinvestment of dividends and capital gains.
Mutual Fund and Morningstar Proprietary Index Data Source: ©2023 Morningstar. All Rights
Reserved. The mutual fund and Morningstar proprietary index information contained herein: (1) is
proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3)
is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers
are responsible for any damages or losses arising from any use of this information. All other Index
Source, Lipper, a Thomson Reuters Company. Copyright 2023 © Thomson Reuters. All rights
reserved.
None
None
None
Fund Overview
Not Available
Target­Date Retirement
Morningstar Mod Con Tgt Risk TR
$8.78 Million
Not Available
Symbol
Type
Inception Date
Family
Manager
Tenure
Website
None
Collective
2016­05­02
Wilmington Trust, N.A
Team
6.67 Years
Fund
Category Benchmark
­12.80 %
0.44 %
1.82 %
2.88 %
Fees and Expenses
­13.85 %
0.83 %
2.79 %
4.30 %
Prospectus Gross Expense Ratio
Annual Expense per $1,000 Invested
0.125 %
$1.25
Prospectus Net Expense Ratio
Annual Expense per $1,000 Invested
0.125 %
$1.25
12b1 Expense
Sales Charge
Deferred Sales Charge
Americas
Greater Europe
Greater Asia
Not Classified
63.0 %
15.2 %
9.6 %
12.3 %
US Stock Asset Classes
Lg
17.3 %
27.8 %
28.8 %
Mid
5.8 %
10.3 %
5.0 %
Sm
1.6 %
2.5 %
1.0 %
Value
Blend
Growth
Each flexPATH strategy seeks to provide long­term
investors with an asset allocation strategy designed to
maximize assets for retirement consistent with the risk
level and projected retirement date associated with
each fund. The Funds are designed to automatically
adjust their risk over time in order to reduce the risk of
investment in equity securities and shift from a focus on
capital appreciation to one of capital preservation, while
maintaining some exposure to capital appreciation
asset classes.
US Stocks
Non­US Stocks
Bonds
Cash
Other
29.7 %
17.0 %
43.1 %
3.5 %
6.7 %
Top 5 Holdings
www.flexpathstrategies.com
­15.45 %
1.21 %
3.08 %
N/A
Investment by Region
Total Return data as of 12/31/2022
Fund Description
Objective
Category
Benchmark Index
Total Assets
Turnover Ratio
1 Year Return
3 Year Return
5 Year Return
10 Year Return
60.9 %
37.4 %
1.0 %
0.7 %
0.0 %
100.02 %
0.02 %
flexPATH Index Agg Retire Fund CL R1
Total Return
US Stocks
Non­US Stocks
Bonds
Cash
Other
Top 5 Holdings
www.flexpathstrategies.com
Total Return
Each flexPATH strategy seeks to provide long­term
investors with an asset allocation strategy designed to
maximize assets for retirement consistent with the risk
level and projected retirement date associated with
each fund. The Funds are designed to automatically
adjust their risk over time in order to reduce the risk of
investment inequity securities and shift from a focus on
capital appreciation to one of capital preservation, while
maintaining some exposure to capital appreciation
asset classes.
None
None
None
BlackRock LifePath® Index 2025 F
BlackRock LifePath® Index 2030 F
Cash
80.93 %
19.16 %
0.09 %
The cumulative effect of investment fees and expenses can substantially reduce your retirement
savings. However, fees and expenses are only two of many factors to consider when deciding what
investment is appropriate for you. For additional information concerning the long­term effect of fees
and expenses, visit the US DOL web site at
http://www.dol.gov/ebsa/publications/401k_employee.html.
The performance data quoted represents past performance and does not guarantee future
results.Equals The investment return and principal value of an investment will fluctuate thus an
investor's shares, when redeemed, may be worth more or less than their original cost. Performance
data assumes reinvestment of dividends and capital gains.
Mutual Fund and Morningstar Proprietary Index Data Source: ©2023 Morningstar. All Rights
Reserved. The mutual fund and Morningstar proprietary index information contained herein: (1) is
proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3)
is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers
are responsible for any damages or losses arising from any use of this information. All other Index
Source, Lipper, a Thomson Reuters Company. Copyright 2023 © Thomson Reuters. All rights
reserved.
Investment by Region
Americas
Greater Europe
Greater Asia
Not Classified
64.6 %
14.5 %
9.2 %
11.8 %
US Stock Asset Classes
Lg
16.5 %
26.6 %
27.5 %
Mid
5.5 %
9.8 %
4.9 %
Sm
2.9 %
4.2 %
2.1 %
Value
Blend
Growth
flexPATH Index Cons Retire Fund CL R1
Fund Overview
Total Return data as of 12/31/2022
Fund Description
Objective
Category
Benchmark Index
Total Assets
Turnover Ratio
Not Available
Target­Date Retirement
Morningstar US Con Tgt Alloc NR
$8.50 Million
Not Available
Symbol
Type
Inception Date
Family
Manager
Tenure
Website
None
Collective
2016­05­02
Wilmington Trust, N.A
Team
6.67 Years
Fund
­13.96 %
0.09 %
2.12 %
N/A
1 Year Return
3 Year Return
5 Year Return
10 Year Return
Category Benchmark
­12.80 %
0.44 %
1.82 %
2.88 %
Fees and Expenses
­13.02 %
­0.52 %
1.89 %
3.25 %
Prospectus Gross Expense Ratio
Annual Expense per $1,000 Invested
0.127 %
$1.27
Prospectus Net Expense Ratio
Annual Expense per $1,000 Invested
0.127 %
$1.27
12b1 Expense
Sales Charge
Deferred Sales Charge
BlackRock LifePath® Index Conserv Ret F
Cash
The cumulative effect of investment fees and expenses can substantially reduce your retirement
savings. However, fees and expenses are only two of many factors to consider when deciding what
investment is appropriate for you. For additional information concerning the long­term effect of fees
and expenses, visit the US DOL web site at
http://www.dol.gov/ebsa/publications/401k_employee.html.
The performance data quoted represents past performance and does not guarantee future
results.Equals The investment return and principal value of an investment will fluctuate thus an
investor's shares, when redeemed, may be worth more or less than their original cost. Performance
data assumes reinvestment of dividends and capital gains.
Mutual Fund and Morningstar Proprietary Index Data Source: ©2023 Morningstar. All Rights
Reserved. The mutual fund and Morningstar proprietary index information contained herein: (1) is
proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3)
is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers
are responsible for any damages or losses arising from any use of this information. All other Index
Source, Lipper, a Thomson Reuters Company. Copyright 2023 © Thomson Reuters. All rights
reserved.
None
None
None
Fund Overview
Not Available
Target­Date Retirement
Morningstar Mod Con Tgt Risk TR
$110.16 Million
Not Available
Symbol
Type
Inception Date
Family
Manager
Tenure
Website
None
Collective
2015­05­18
Wilmington Trust, N.A
Team
7.59 Years
Fund
Category Benchmark
­12.80 %
0.44 %
1.82 %
2.88 %
Fees and Expenses
­13.85 %
0.83 %
2.79 %
4.30 %
Prospectus Gross Expense Ratio
Annual Expense per $1,000 Invested
0.125 %
$1.25
Prospectus Net Expense Ratio
Annual Expense per $1,000 Invested
0.125 %
$1.25
12b1 Expense
Sales Charge
Deferred Sales Charge
Americas
Greater Europe
Greater Asia
Not Classified
66.9 %
13.5 %
8.6 %
11.1 %
US Stock Asset Classes
Lg
15.7 %
24.3 %
24.9 %
Mid
5.4 %
9.8 %
4.7 %
Sm
4.8 %
6.8 %
3.6 %
Value
Blend
Growth
Each flexPATH strategy seeks to provide long­term
investors with an asset allocation strategy designed to
maximize assets for retirement consistent with the risk
level and projected retirement date associated with
each fund. The Funds are designed to automatically
adjust their risk over time in order to reduce the risk of
investment inequity securities and shift from a focus on
capital appreciation to one of capital preservation, while
maintaining some exposure to capital appreciation
asset classes.
US Stocks
Non­US Stocks
Bonds
Cash
Other
24.1 %
13.5 %
51.7 %
3.8 %
6.7 %
Top 5 Holdings
www.flexpathstrategies.com
­14.68 %
0.68 %
2.61 %
N/A
Investment by Region
Total Return data as of 12/31/2022
Fund Description
Objective
Category
Benchmark Index
Total Assets
Turnover Ratio
1 Year Return
3 Year Return
5 Year Return
10 Year Return
18.3 %
9.4 %
62.4 %
4.2 %
5.5 %
100.11 %
0.11 %
flexPATH Index Mod Retire Fund CL R1
Total Return
US Stocks
Non­US Stocks
Bonds
Cash
Other
Top 5 Holdings
www.flexpathstrategies.com
Total Return
Each flexPATH strategy seeks to provide long­term
investors with an asset allocation strategy designed to
maximize assets for retirement consistent with the risk
level and projected retirement date associated with
each fund. The Funds are designed to automatically
adjust their risk over time in order to reduce the risk of
investment inequity securities and shift from a focus on
capital appreciation to one of capital preservation, while
maintaining some exposure to capital appreciation
asset classes.
None
None
None
BlackRock LifePath® Index Retire F
Cash
100.10 %
0.10 %
The cumulative effect of investment fees and expenses can substantially reduce your retirement
savings. However, fees and expenses are only two of many factors to consider when deciding what
investment is appropriate for you. For additional information concerning the long­term effect of fees
and expenses, visit the US DOL web site at
http://www.dol.gov/ebsa/publications/401k_employee.html.
The performance data quoted represents past performance and does not guarantee future
results.Equals The investment return and principal value of an investment will fluctuate thus an
investor's shares, when redeemed, may be worth more or less than their original cost. Performance
data assumes reinvestment of dividends and capital gains.
Mutual Fund and Morningstar Proprietary Index Data Source: ©2023 Morningstar. All Rights
Reserved. The mutual fund and Morningstar proprietary index information contained herein: (1) is
proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3)
is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers
are responsible for any damages or losses arising from any use of this information. All other Index
Source, Lipper, a Thomson Reuters Company. Copyright 2023 © Thomson Reuters. All rights
reserved.
Investment by Region
Americas
Greater Europe
Greater Asia
Not Classified
65.2 %
14.3 %
9.0 %
11.5 %
US Stock Asset Classes
Lg
16.2 %
26.1 %
26.9 %
Mid
5.4 %
9.5 %
4.9 %
Sm
3.5 %
5.0 %
2.6 %
Value
Blend
Growth
Janus Henderson Glb Tech and Innovt N
Fund Overview
Total Return data as of 12/31/2022
Fund Description
Objective
Category
Benchmark Index
Total Assets
Turnover Ratio
Specialty ­ Technology
Technology
Russell 3000 Growth TR
$134.98 Million
47.00 %
Symbol
Type
Inception Date
Family
Manager
Tenure
Website
JATNX
Mutual Fund
2017­01­27
Janus Henderson
Cofsky/Fish
3.91 Years
The investment seeks long­term growth of capital. The
fund pursues its investment objective by investing at
least 80% of its net assets (plus any borrowings for
investment purposes) in securities of companies that
the portfolio managers believe will benefit significantly
from advances or improvements in technology. It
implements this policy by investing primarily in equity
securities of U.S. and foreign companies selected for
their growth potential. The fund typically invests at least
40% of its net assets in securities of issuers or
companies that are economically tied to different
countries throughout the world, excluding the United
States.
janushenderson.com
Total Return
Fund
­37.54 %
3.66 %
10.33 %
15.32 %
1 Year Return
3 Year Return
5 Year Return
10 Year Return
Category Benchmark
­29.86 %
6.06 %
9.44 %
15.24 %
Fees and Expenses
­28.97 %
7.32 %
10.45 %
13.75 %
Prospectus Gross Expense Ratio
Annual Expense per $1,000 Invested
0.670 %
$6.70
Prospectus Net Expense Ratio
Annual Expense per $1,000 Invested
0.670 %
$6.70
12b1 Expense
Sales Charge
Deferred Sales Charge
None
None
None
Microsoft Corp
Apple Inc
ASML Holding NV
Janus Henderson Cash Liquidity Fund Llc,
2.8879%
Mastercard Inc Class A
12.84 %
5.99 %
5.80 %
4.93 %
4.86 %
The cumulative effect of investment fees and expenses can substantially reduce your retirement
savings. However, fees and expenses are only two of many factors to consider when deciding what
investment is appropriate for you. For additional information concerning the long­term effect of fees
and expenses, visit the US DOL web site at
http://www.dol.gov/ebsa/publications/401k_employee.html.
The performance data quoted represents past performance and does not guarantee future
results.Equals The investment return and principal value of an investment will fluctuate thus an
investor's shares, when redeemed, may be worth more or less than their original cost. Performance
data assumes reinvestment of dividends and capital gains.
Mutual Fund and Morningstar Proprietary Index Data Source: ©2023 Morningstar. All Rights
Reserved. The mutual fund and Morningstar proprietary index information contained herein: (1) is
proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3)
is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers
are responsible for any damages or losses arising from any use of this information. All other Index
Source, Lipper, a Thomson Reuters Company. Copyright 2023 © Thomson Reuters. All rights
reserved.
Fund Description
Objective
Category
Benchmark Index
Total Assets
Turnover Ratio
Specialty ­ Utility
Utilities
Morningstar US Util TR USD
$242.99 Million
5.66 %
Symbol
Type
Inception Date
Family
Manager
Tenure
Website
FUFRX
Mutual Fund
2013­05­01
Franklin Templeton Investments
Schmicker/Kohli
Since Inception
www.franklintempleton.com
Fund
1.88 %
5.79 %
9.14 %
10.41 %
Category Benchmark
Fees and Expenses
0.45 %
3.41 %
6.05 %
7.93 %
1.65 %
5.82 %
9.19 %
10.97 %
Prospectus Gross Expense Ratio
Annual Expense per $1,000 Invested
0.570 %
$5.70
Prospectus Net Expense Ratio
Annual Expense per $1,000 Invested
0.500 %
$5.00
12b1 Expense
Sales Charge
Deferred Sales Charge
Investment by Region
Americas
Greater Europe
Greater Asia
Not Classified
84.5 %
7.9 %
4.5 %
3.1 %
US Stock Asset Classes
Lg
0.0 %
20.9 %
61.1 %
Mid
0.0 %
1.4 %
13.7 %
Sm
0.0 %
0.4 %
2.7 %
Value
Blend
Growth
Total Return data as of 12/31/2022
Fund Overview
1 Year Return
3 Year Return
5 Year Return
10 Year Return
77.9 %
16.2 %
0.0 %
4.9 %
0.9 %
Top 5 Holdings
Franklin Utilities R6
Total Return
US Stocks
Non­US Stocks
Bonds
Cash
Other
None
None
None
The investment seeks capital appreciation and current
income. The fund normally invests at least 80% of its
net assets in the securities of public utilities companies.
These are companies that provide electricity, natural
gas, water, and communications services to the public
and companies that provide services to public utilities
companies. It concentrates (invests more than 25% of
its total assets) in companies operating in the utilities
industry. The fund invests primarily in equity securities,
which consist mainly of common stocks.
US Stocks
Non­US Stocks
Bonds
Cash
Other
94.8 %
4.3 %
0.0 %
1.0 %
0.0 %
Top 5 Holdings
NextEra Energy Inc
Sempra Energy
Edison International
Duke Energy Corp
Southern Co
11.72 %
4.27 %
4.19 %
4.14 %
3.96 %
The cumulative effect of investment fees and expenses can substantially reduce your retirement
savings. However, fees and expenses are only two of many factors to consider when deciding what
investment is appropriate for you. For additional information concerning the long­term effect of fees
and expenses, visit the US DOL web site at
http://www.dol.gov/ebsa/publications/401k_employee.html.
The performance data quoted represents past performance and does not guarantee future
results.Equals The investment return and principal value of an investment will fluctuate thus an
investor's shares, when redeemed, may be worth more or less than their original cost. Performance
data assumes reinvestment of dividends and capital gains.
Mutual Fund and Morningstar Proprietary Index Data Source: ©2023 Morningstar. All Rights
Reserved. The mutual fund and Morningstar proprietary index information contained herein: (1) is
proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3)
is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers
are responsible for any damages or losses arising from any use of this information. All other Index
Source, Lipper, a Thomson Reuters Company. Copyright 2023 © Thomson Reuters. All rights
reserved.
Investment by Region
Americas
Greater Europe
Greater Asia
Not Classified
95.7 %
2.5 %
0.0 %
1.8 %
US Stock Asset Classes
Lg
25.4 %
14.5 %
0.9 %
Mid
23.0 %
28.1 %
0.0 %
Sm
2.0 %
6.1 %
0.0 %
Value
Blend
Growth