HDR, Inc. BEST Plan and ESOP - Frequently Asked Questions

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1 The HDR, Inc. BEST Plan and ESOP was designed to provide you an avenue to save for retirement. HDR recognizes that this is an important benefit at all stages of your life. Effective January 1, 2010, the Plan s administrative services are moving to Schwab. Please use this document to get answers to frequently asked questions regarding 401(k) information, the conversion process and changes to the Plan. Table of Contents: Basic 401(k) 2 Conversion 3 Schwab Personal Retirement Planning 6 Schwab Personal Choice Retirement Account PCRA 8 Miscellaneous 10 1

2 Basic 401(k) 1. What is a 401(k) retirement plan? A: A 401(k) retirement plan is a type of retirement plan that is named for a section of the tax law that allows you (as an employee) to contribute a portion of your compensation, before income taxes, to a company sponsored retirement plan. The amount the company withholds from your paycheck is called a deferral. 2. What is a qualified plan? A: A qualified plan is a plan that qualifies for special tax consideration under section 401(a) of the Internal Revenue Code. Funds must come from this type of plan to roll into HDR, Inc. BEST Plan and ESOP. 3. What are the long-term benefits of pre-tax contributions? A: When you contribute to the retirement account, the money comes out of their paycheck before federal and most states income taxes are assessed. This means that you may pay lower income taxes than you would have paid if you had not contributed to the 401(k) retirement plan during the year. Contributions are invested and start earning interest and capital gains on a tax-deferred basis. When you start withdrawing money from your account, usually at retirement when you may be in a lower tax bracket, you will pay regular income taxes on the contributions and earnings you withdraw. 4. Who is eligible to participate in the HDR, Inc. BEST Plan & ESOP? A: All full and part time employees, including those classified as temporary. 5. When am I is eligible to participate in the Plan? A: You are eligible to participate on the first of the month following your date of hire. 6. How do I enroll or change my participation in the BEST Plan? A: Until the blackout date, you may enroll online from the Merrill Lynch website, If you have not used the website before, you will need to set up a user ID and log in. Click on the link for the Online Enrollment Kit. Instructions and screen shots are available from the HDR Online Employee Center Benefits webpage. You can also contact the Merrill Lynch Customer Service Center ( K). You can change your participation level through either resource as well. After the blackout is lifted, you may enroll online from the Schwab website, schwab.com/workplace. Your password will be mailed to you once the Plan is live. If you need information sooner, simply contact the Schwab Retirement Plan Hotline ( ). You can change your participation level through either resource as well. 7. Do I have to sign up for 401K each year? A: No. Once you enroll in the BEST Plan, your election continues until you change or stop it. 8. How does the investment process work? A: Post transition to Schwab, after HDR withholds the deferral, it is deposited into a Schwab trust account, and the deferral information is sent to Schwab Retirement Plan Services. Schwab then invests your deferral in the investments you have chosen, the fund company informs Schwab of the number of shares that your recent contribution purchased, and your account is updated. The number of shares and share prices are updated on a daily basis. 9. Will catch up contributions be automatically re enrolled each year? A: Yes you would have to drop your catch-up deferral to zero in order to not have catch-up deducted. 2

3 Conversion 1. Why is HDR moving to Schwab at this time? A: HDR completed an evaluation of the record keeper and trustee functions currently performed for the Plan. Recognizing the importance of providing leading services to participants while maximizing investment flexibility, a decision was made to evaluate service provider options for the Plan. The purpose of the evaluation was to identify potential new opportunities and improvements for the Plan. The evaluation included a market review of record keepers for similar tax-qualified retirement plans, including 401(k) plans. As a result of this evaluation process, HDR has selected Schwab Retirement Plan Services, Inc. as the new record keeper and trustee for the Plan. 2. What is the timeframe for the Plan conversion to Schwab and what will happen to my investments during the conversion? A: Participants in the HDR, Inc. BEST Plan & ESOP will continue to manage their funds with their current record keeper (Merrill Lynch) up to 3 p.m. on December 24, Participants in the Engineering-Environmental Management, Inc. 401(k) Plan will be able to continue to manage their funds with their current record keeper (Fidelity) until 3 p.m. on December 29, These dates differ due to the requirements of the respective providers. This will begin a short period during which you will not be able to move money among investment option(s), take distributions or withdrawals, or apply for loans. This period is known as the Blackout Period. All participants and employees received at home or via a notice containing the details of the blackout period and deadline dates to request or make changes. The transfer of assets from Merrill Lynch for BEST Plan participants and Fidelity (for e 2 M participants) to Schwab will be initiated on a specific date that will minimize the time assets are unavailable for trading. Full access to funds will be restored as soon as participant records and assets are reconciled. We expect the period to be brief and complete access to accounts within the Plan is expected to be available to participants the week of January 10, Investment options offered under Merrill Lynch and Fidelity will be liquidated on or about December 31, Proceeds will be wired from Schwab and will either be mapped to funds with similar investment objectives, mapped to custom portfolios, or transferred in-kind on or about January 4, What if I want account information after the blackout period has started? A: You will need to contact the current record keeper (Merrill Lynch for HDR participants, Fidelity for e 2 M participants) for account information. After the Blackout Period begins, you will have inquiry only access to your current account balances. Once the Plan is live at Schwab, you will have complete account access by calling the Schwab Retirement Plan Hotline at or logging on to the Retirement Plan website at 4. How are the retirement funds protected? A: Federal regulations require that the assets of retirement plan accounts (whether at the current record keeper or once they are converted to Schwab) be held in a trust only for the benefit of plan participants and be protected from general creditors. Schwab is a stable financial institution with a strong balance sheet and credit ratings. If interested, participants can review Schwab s entire financial statement at 5. Will this change require participants to sell investments when the price is low? A: While we do not know how the market --- or any particular investment option --- will perform between now and then, keep in mind assets will be re-invested in similar funds as soon as possible and therefore under similar market conditions. Also, several funds are being moved in-kind. Note, too, that because these transactions are occurring within the Plan s trust, there is no tax impact related to real gains or losses as long as they remain in the Plan. 6. How will I be informed of the changes? A: All participants and current employees will receive a conversion newsletter outlining new investment options, whom to call with questions, and much more. HDR is excited about the selection of Schwab as the new Retirement Plan record keeper and will continue to keep you informed throughout this conversion. Up-to-date information will also be posted to a special conversion website - HDRBestPlan.schwabplan.com - which includes copies of conversion communications, education meeting schedule and descriptions of the new funds offered in the Plan. 7. If dividends are paid at the end of 2009 for funds in which I am invested, will I receive them? A: Yes, any dividends paid will be credited to accounts appropriately. 3

4 8. What are some of the new features of the Plan? A: Once the plan is live at Schwab, you may look forward to: An improved menu of well-known mutual funds managed by some of the most respected names in the industry Specific, personalized recommendations for retirement plan investments through retirement plan advice powered by GuidedChoice at no cost to participants The ability to invest in mutual funds (other than those provided as regular investments through the BEST Plan) through the Schwab Personal Choice Retirement Account (PCRA) Schwab s retirement plan website ( where participants can go to: o Enroll or Opt out o Check account balances o Request investment information o Track performance o Change contribution rates or amounts o Change investment selections o Request a distribution or loan 9. Where will assets be invested when moved to Schwab? A: Some funds will remain the same; some will be replaced by new funds. Goal Manager Accounts will change to Risk Based Portfolios. The mapping of the funds included in the conversion newsletter directs how assets will transfer to Schwab. A copy of the conversion newsletter was ed to all employees, mailed to each participant s home and is available on the conversion website. 10. Will I have access to investments other than those offered by the BEST Plan and detailed in the mapping matrix? A: After the transition to Schwab, participants may utilize a Schwab Personal Choice Retirement Account (PCRA). This is a self-directed brokerage account that allows participants to invest in select investments as chosen by the Retirement Plan Committee that are outside the Plan s core fund lineup. Please review the section on the PCRA option. 11. How will my goal manager portfolios be transferred? If Existing account balance: 100% Goal Manager Future investment elections: 100% Goal Manager Existing account balance: split between Goal Manager and core funds Future investment elections: 100% Goal Manager Existing account balance: split between Goal Manager and core funds Future investment elections: split between Goal Manager and core funds Existing account balance: split between Goal Manager and other core funds Future investment elections: invested in core funds Then your. Goal Manager portfolios and investment elections will be mapped to the appropriate risk based portfolio at Schwab. Goal Manager portfolios and investment elections will be mapped to the appropriate risk based portfolio at Schwab. NOTE: Your entire account balance will be rebalanced on a quarterly basis into the risk based portfolio based on your investment elections for future contributions. Investment elections, underlying funds of the Goal Manager portfolios and the core funds will all be mapped according to the Investment Mapping on page 3.NOTE: Your account will NOT be rebalanced on a quarterly basis. Investment elections, underlying funds of the Goal Manager portfolios and the core funds will all be mapped according to the Investment Mapping on page 3. NOTE: Your account will NOT be rebalanced on a quarterly basis. 12. When will I be notified that I have access to my accounts? A: Schwab will notify you in writing of the date when the new Plan is live with all features available. Schwab s notification will include your personal identification number (PIN). You will need to provide both your PIN and Social Security Number to access the Retirement Plan Hotline at and website at 4

5 13. How often will I receive statements? A: You will receive statements on a quarterly basis. The statements are mailed to your home address on record, or you may choose to receive an e-statement that is distributed electronically to the address of your choice. After the conversion, you may log on to click Manage Account ; then click E-Services and Change Delivery Options for a full description. 14. Can I get copies of past statements from Merrill Lynch? You can get copies of past statements by calling Merrill Lynch, The statements will be mailed to you. The final statements from Merrill Lynch will be mailed to participants in January What is the phone number for Schwab Retirement Plan Services? A: Schwab s Retirement Plan Hotline can be accessed by dialing You may contact Schwab prior to January, but please understand that all Plan information from Merrill Lynch (or Fidelity for e2m participants) will not be available to the Hotline staff and all assets fully reconciled until the week of January 10th. will be answered to the extent possible. For general financial and investing information, visit Schwab s website anytime at Do I have the ability to rollover an account into an IRA? A: Not for active employees. The Internal Revenue Service specifies when participants can get their money from a 401(k) plan. Specifically, your money must stay in the plan until you terminate employment, die, retire or become permanently disabled. There are a few exceptions. After age 59½ you can request a withdrawal of your entire vested account balance without penalty; this in-service withdrawal is available to you only once. While you can take a loan or a hardship withdrawal, limitations apply to the amount and the reasons for which you can take either. Unless you meet one of the requirements listed above, taking a distribution would not be possible at this time as conversion is not a distributable event. Keep in mind that these rules are placed on plans by the IRS in return for allowing the monies in the plans to remain tax deferred until the monies come out of the plans. Additionally, the Plan is designed to help you save for a financially secure retirement. 5

6 HDR Stock 1. Will there be any changes in how the HDR stock is managed by Schwab? A: The HDR stock will continue to be administered by the Principal Financial Group and shown on the Schwab site as it does on Merrill Lynch s. Schwab will help us with the buy/sell as Merrill did. 6

7 Retirement Plan Advice Powered By GuidedChoice 1. What is Schwab s advice solution provided through GuidedChoice? A: It is a personalized investment advice service to help you stay on track when it comes to planning for retirement. You will receive objective, personalized retirement planning answers that include: Savings recommendations How much you need to save today to reach your 401(k) savings goal Fund-specific advice Recommendations to help you decide which funds to select and how much to invest in each of the funds Annual rebalancing Automatic rebalancing of your portfolio each year so you can keep your recommended asset allocation Ongoing support Ability to access advice any time a life event occurs or when you feel a need to reevaluate your financial situation 2. Who is GuidedChoice? A: GuidedChoice is the third party administrator that delivers the objective advice. Their advice model was developed in collaboration with Nobel Laureate Dr. Harry Markowitz, founding father of Modern Portfolio Theory. Through a GuidedChoice analysis, you will complete a retirement assessment that includes a review of your goals, timeline to retirement, and current investments. Then, over 500 market scenarios are run to produce advice appropriate to your unique situation and goals. You will receive specific recommendations on how much to save, which funds to select from the Plan s core line-up, and how much to allocate to each fund. You will also receive an estimate of how much you could accumulate for retirement. 3. How will advice services be delivered? A: Once the plan is live at Schwab, you can access GuidedChoice online or schedule a phone appointment with a Schwab Advice Consultant. GuidedChoice provides a Guided Savings analysis and the personalized advice is then provided immediately online or delivered by a Schwab Advice Consultant. By phone: Call to set up your appointment with a Schwab Advice Consultant. You can even request to speak with the same consultant every time. Online: Log on to Sign in with the same Login ID and Password that you use to access your account information. Once on the homepage, click on the GuidedChoice link at the right to get started. If you have lost or forgotten your login information, direct them to call Schwab at to speak with a representative for assistance. 4. What are the hours to access the advice services? A: Advice Consultants will be available from 8:00 AM ET to 9:00 PM ET Monday through Friday, and Saturday between 8:30 AM and 7:00 PM ET. Additionally, the call centers will support the Advice Consultants from 7:00 AM ET to 11:00 PM ET Monday through Friday, and will be able to set appointments. 5. Can I speak with the same person every time I call? A: Yes. Schwab believes a personal relationship is what many people want. The ability to call, ask questions along the way and get overall assistance, as well as assistance in obtaining specific GuidedChoice advice as delivered by a Schwab Advice Consultant, will help participants be more willing to use advice. You may need to set an appointment, but you can request to have the same Advice Consultant. 6. How frequently can I use the advice services? Is there a distinction between in-person and online usage? A: You have the availability to use the online tool or speak with an Advice Consultant as often as you would like. Additionally, Schwab provides all participants with key investment educational topics, such as investing for the long term, not timing the market, etc. These educational tools may help you determine if and when to seek out goalspecific advice from GuidedChoice. 7

8 7. Will keyed text into Schwab Advice be saved for later use? Yes, once you type in information on the Advice tool, it can be saved and viewed later. 8. Is there a fee to receive this service? A: No, Schwab believes retirement plan advice is a necessity for plan participants, not an option. We think it s the right thing to do to offer this at no cost to the participants. 9. Will GuidedChoice advice cover all my financial needs? A: Advice will be limited to core account investments offered within a defined contribution retirement plan. Outside assets will be considered when providing this advice. If you have financial needs outside of the retirement plan, the Advice Consultant can offer information on other Schwab resources. 8

9 Schwab Personal Choice Retirement Account (PCRA) 1. What is PCRA? A: Schwab Personal Choice Retirement Account (PCRA) is a self-directed brokerage account that allows participants to invest in select investments as chosen by the Retirement Plan Committee that are outside the Plan s core fund lineup. PCRA is offered through Charles Schwab & Co., Inc. (Member SIPC), a registered broker/dealer which also provides other brokerage and custody services to its customers. 2. What are some reasons for opening a PCRA? A: If participants are looking for investment choices beyond the core fund lineup, they may want to consider opening a PCRA. If they want more investment options, are interested in researching, selecting and monitoring their own investments, or have a significant account balance that they would like professionally managed for an additional fee, they may wish to open a PCRA. 3. What investments will be available in a PCRA? A: You may invest in any mutual fund available on the Schwab investment platform. Investors should carefully consider information contained in the prospectus, including investment objectives, risks, trading policies, charges and expenses. A prospectus can be obtained by calling the Retirement Plan Hotline at You may also request a prospectus at Please read the prospectus carefully before investing. Investment return and principal value of an investment will fluctuate so that an investor s shares, when redeemed, may be worth more or less than their original cost. 4. What is not available in a PCRA? A: HDR stock or HDR 401(k) plan funds. You can continue to invest in these funds as part of your plan, but they cannot be held in your PCRA account. You may not invest in anything other than mutual funds. 5. What transaction fees apply to a PCRA? A: Schwab will charge its standard brokerage commission on any trade within the PCRA. Current brokerage commission rates are available by calling Schwab at These rates are subject to change. 6. How does a participant set-up a PCRA? A: To open a PCRA for the first time, a participant will need to complete the online enrollment and choose PCRA as one of the investment election choices. Participants need to make sure their investment election choices total 100 percent. From click the link to open a PCRA and complete the online PCRA Application. Funding the PCRA 7. How do participants contribute to their PCRA? A: To contribute to a PCRA, participants direct money from their 401(k) Retirement Plan into the PCRA. Contributions are initially deposited into a Money Market Fund. When they contribute to their PCRA, they should keep in mind that they will need to have sufficient cash in their account before placing any trades. Their account can be funded in one of two ways: Automatic payroll deductions A participant may choose to contribute money to their PCRA every pay period, by electing the PCRA option when they complete their investment elections online at Transfers from existing account balances A participant may transfer up to 100% of their current vested account balance to the PCRA. A request to transfer from a core investment to a PCRA can be done via the Retirement Plan Hotline or Website at The money will be available to invest in their PCRA two business days later. 9

10 8. How do participants change their investment election? A: Once participants direct contributions toward their PCRA, they can increase/decrease those contributions or transfer core funds to their PCRA either by calling the Retirement Plan Hotline at or by accessing On the Retirement Plan website, they can click the Plan Services tab. From this tab, click on either Investments (to move existing money) or Contributions (to change future contributions). Note: Participants may not click the Rebalance Portfolio selection to move funds into their PCRA. Transfers requested by 4:00 PM ET of any business day will be available the next business day. Guidelines to Investing 9. How do participants trade? A: All transfers to PCRA go into a Money Market Fund that is used to handle flows of cash into, out of and within PCRA. Cash in their PCRA will remain invested in the Schwab Money Market Fund unless the participant uses an automatic investment plan. PCRA is designed to offer participants investment flexibility and choice. PCRA participants may place trade orders whenever it is convenient for them, day or night, using the following resources: TeleBroker touch tone service, Schwab by Phone voice recognition service or Schwab s dedicated PCRA Call Center at (888) Participants can activate an Automatic Investment Plan (AIP) to place Mutual Fund OneSource service trade orders automatically Participants can utilize an Investment Advisor for PCRA assets. An investment in a money market fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although money market funds seek to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in a money market fund. Access to PCRA 10. How can participants keep track of their PCRA investments? A: To help keep track of PCRA investments, Schwab will provide participants with easy-to-understand information on a regular basis: Brokerage statements Each month participants will receive, via mail or (notification to access their secure statement), a Schwab PCRA statement that details all of their PCRA activity, including trades, payroll contributions and transfers. Benefit statements The total dollar value of their PCRA, along with their core investments, will be reflected on the quarterly retirement plan benefit statement, provided by Schwab Retirement Plan Services. Trade confirmations Participants will receive a written confirmation from Schwab for each trade made and they will be mailed out on the trade date. Participants can also elect to receive econfirms via What is Schwab Complete Account Access? A: With a single login at participants can receive a comprehensive view of multiple Schwab investing accounts. With a Schwab brokerage account and login ID, account holders can get complete access starting today. Your password pre-conversion will remain the same. 10

11 12. What other PCRA related services are available? A: Schwab can provide participants with information and resources to assist in making informed investment decisions to help meet their financial goals for retirement.* Some examples of these educational resources include the following: Access to powerful research tools on schwab.com and third-party research from leading providers such as Argus Research, Standard & Poor s, and Morningstar. Access to mutual fund screener tools to help participants choose their investments based on their criteria. In-person and online seminars covering current investing topics. Schwab Alerts - These alerts are designed to help participants stay informed about their account activity, news and market news. Market Insight - Review commentaries from Schwab market analysts on top stories of today, investing strategies and retirement strategies at located under Research & Strategies on the home page. *Please be aware that brokerage products and services provided by Charles Schwab & Co., Inc. (member SIPC) through Schwab Investor Centers are separate and distinct from the services offered through your retirement plan serviced by Schwab Retirement Plan Services, Inc. Any fees incurred for products or services provided by the Schwab Investor Centers will be incurred by the individual investor and not be paid by your retirement plan or Plan Sponsor. Schwab Retirement Plan Services, Inc. and Charles Schwab & Co., Inc. are separate but affiliated companies and subsidiaries of The Charles Schwab Corporation. 11

12 Miscellaneous 1. Is it possible to move funds from my previous employer s retirement plan to the HDR, Inc. BEST Plan and ESOP? A: Yes, as long as the money comes from a qualified retirement plan or conduit IRA. By doing so, you can avoid current income tax liability on the amount distributed and the money can continue to accumulate tax-deferred. To request a Direct Rollover Transfer Form, please contact the Schwab Retirement Plan Hotline at From the newsletter info it appears that if someone has all of their investments in the Risk-Based portfolio(s) then the account will be rebalanced quarterly automatically. Does the rebalancing take into account the HDR stock value? A: The HDR stock is not taken into account in the rebalancing. 3. Can participants invest in both the Risk Based Portfolio and also in the Core Funds?..in the PCRA? A: 100% of your future contributions have to be invested into the Risk Based Portfolio; however, you can transfer money from the portfolio into the core funds and/or PCRA. Keep in mind, if 100% of your future contributions are in the Risk Based Portfolio, each quarter the core funds would be rebalanced back into the portfolio. 4. If our investments are split between a risk-based portfolio and core funds (or all core funds), can we ask Schwab to automatically rebalance the entire portfolio on some regular basis? A: To participate in the Risk Based Portfolios you must invest your entire balance in the selected Portfolio. If you do so, it will rebalance quarterly. You also have an option to participate in the Retirement Plan Advice Powered by Guided Choice. When working with Guided Choice, rebalancing will be done annually. If you wish to rebalance more frequently, you will need to contact an Advice representative to initiate the additional rebalance each time. 5. Will I be able to move funds currently in the Merrill Lynch Retirement Preservation Trust to another investment? A: Yes. Prior to the transfer to Schwab, individual participants may request to move funds out of the Merrill Lynch Retirement Preservation Trust and into another investment. After the transfer to Schwab, assets in the Retirement Preservation Trust become part of the Blended Stable Value Fund. Participants will be able to move money out of the Blended Stable Value Fund and into another investment. This includes for the purchase of HDR stock during the buy/sell process if the participant has his/her assets in the Blended Stable Value Fund. In either case, the transfer happens the same business day. 6. Can Plan participants upload BEST data from Schwab to Quicken? If so, how? A: Go to and then on the Transaction History page there are links to download transactions into Quicken or MS Money. A link is also included with instructions on this page. 7. Is there a Contingent Redemption Fee (CRF) for ordinary salary contributions? For example, if participants are contributing to the Vanguard International fund now, and have made payroll deferrals in January, will they be subject to the 2% contingent redemption fee if those funds are liquidated for the February Buy/Sell? A: No only participant initiated transactions - such as transfers are subject to CRF's. Deposits made into a participant s account for contributions are not subject to CRF's unless they initiate transfers on what was deposited as a result of the contribution. 8. What is the age of the Bond Fund? A: 3.5 to 6 years 9. Why are tax-exempt funds offered with the PCRA? A: HDR does not restrict any of your mutual fund options; therefore, tax-exempt funds are an option for participants. 10. Will cost basis for HDR stock follow the records from ML to Schwab? If so, when? A: Schwab does have the cost basis in their system; however, it is not yet available on the website. Schwab is working on making cost basis available on the website. In the interim, please call Schwab to obtain your cost basis of the stock. 12

13 11. What is the procedure for rolling funds from my previous employer s retirement plan into HDR, Inc. BEST Plan and ESOP? A: After you receive the Direct Rollover Transfer Form from Schwab, forward it to your previous employer s retirement administrator. Your previous employer sends you the rollover form with the check made payable to HDR, Inc. BEST Plan and ESOP. You then fill out the back portion of the form and send it to Schwab with the check from your previous plan. 12. Can I get guidance for other financial goals outside of the Plan from Schwab? A: For investments outside of the HDR, Inc. BEST Plan and ESOP, you can take advantage of information and guidance available from Schwab. Whether there is a need to save for college or develop an asset allocation strategy, Schwab can help. You may call , visit or to stop by any one of Schwab s 300 Investor Centers today. 13. Should new employee during the month of December 2009 enroll in the BEST Plan with Merrill Lynch? A. New employees who are hired and paid by HDR prior to the transition to Schwab may receive a new hire packet from Merrill Lynch. If he/she does, it s okay to enroll. The information will get transferred to Schwab. HDR will send all the new hires to Schwab as well to ensure the newly hired staff members are auto-enrolled. By the time a December hire is eligible to participate, the transition will have taken place. 14. When are employees automatically enrolled and what is the percentage the company will deduct on behalf of the employee? A. Employees who are newly hired will be automatically enrolled with a 4% contribution level. Participants are eligible the first day of the month following date of employment. Contributions will begin 30 days following the date of eligibility. Employees can opt out during that 30 day period. 15. Will HDR offer a Roth IRA option? A. HDR will complete it s evaluation of the Roth IRA and the related system requirements in If testing is positive, the Roth will be implemented in

14 Relating to Acquisition Plans Being Merged into the BEST Plan 1. Many of HDR DTA s employees still have funds left in the 401(k) program of DTA through Principal Financial Group. When will these accounts become part of the HDR BEST Plan with Schwab? A. Funds invested in the Morley Stable Value Fund will be liquidated in the first part of January and transferred to Schwab as part of the HDR BEST Plan. Upon transfer, the funds will be invested in the Schwab Stable Value Fund within the Blended Stable Value Fund. DTA employees had access to a real estate fund. That fund has very restrictive conditions and investments may continue to remain with the Principal Financial Group for three years. The fund has established a release schedule. HDR will continue to review and monitor the fund to make sure all funds are transferred. Participants holding that investment will continue to receive a statement from Principal Financial Group until it is released to the participant s BEST Plan account. 14

15 Please be aware that brokerage products and services provided by Charles Schwab & Co., Inc. (Member SIPC) through Schwab Investor Services are separate and distinct from the services offered through your retirement plan serviced by Schwab Retirement Plan Services, Inc. Any fees incurred for products or services provided by the Schwab Investor Services will be incurred by the individual investor and not be paid by your retirement plan or Plan Sponsor. Schwab Retirement Plan Services, Inc. and Charles Schwab & Co., Inc. are separate but affiliated companies and subsidiaries of The Charles Schwab Corporation. Retirement plan investment advice is formulated and provided by GuidedChoice Asset Management, Inc. (GuidedChoice) which is not affiliated with or an agent of Charles Schwab & Co., Inc. (CS&Co.) or any of its affiliates (collectively Schwab). The GuidedChoice service is available to participants enrolled in plans that use the recordkeeping and related services of SRPS. Schwab does not supervise, make recommendations with respect to, or take responsibility for monitoring the advice provided to participants by GuidedChoice. Schwab s Advice Consultants are employees of CS&Co. and not of GuidedChoice. There is no additional cost for the GuidedChoice service outside of the standard fees paid to SRPS and Schwab for recordkeeping and related services, including fees paid to Charles Schwab Trust Company, a division of Charles Schwab Bank. Accounts will be rebalanced annually unless you opt out of this service. 59½ is the federally mandated age you may take in-service withdrawals from a 401(k) plan without a 10% penalty. Schwab does not provide tax or legal advice. Access to electronic services and your account may be limited or unavailable during periods of peak demand, market volatility, system upgrades or for other reasons. A redemption fee is a fee that some funds charge their shareholders when they redeem their shares within a specified period of time. The fee is meant to discourage short term trading. A redemption fee is typically used to defray fund cost associated with a shareholder s redemption and is paid directly to the fund - not to the broker. Periodic investment plans, dollar-cost-averaging, dividend reinvestment or Schwab s Automatic Investment Plan ( AIP ) do not assure a profit and do not protect against loss in declining markets. Network member advisors are independent and are not employees or agents of Charles Schwab & Co., Inc. ( Schwab ). Schwab prescreens advisors and checks their experience and credentials against criteria Schwab sets, such as years of experience managing investments, amount of assets managed, professional education, regulatory licensing, and business relationship as a client of Schwab. Advisors pay fees to Schwab in connection with referrals. Schwab does not supervise advisors and does not prepare, verify or endorse information distributed by advisors. Investors must decide whether to hire an advisor and what authority to give him or her. Investors, not Schwab, are responsible for monitoring and evaluating an advisor s service, performance and account transactions. Services may vary depending on which advisor an investor chooses. For participants who utilize the Personal Choice Retirement Account (PCRA), the following fees and conditions may apply: Schwab s short-term redemption fee of $49.95 will be charged on redemption of funds purchased through Schwab s Mutual Fund OneSource service (and certain other funds with no transaction fee) and held for 90 days or less. Schwab reserves the right to exempt certain funds from this fee, including Schwab Funds, which may charge a separate redemption fee, and funds that accommodate short-term trading. Trades in no-load mutual funds available through Mutual Funds OneSource service (including Schwab Funds) as well as certain other funds, are available without transaction fees when placed through schwab.com or our automated phone channels. Schwab reserves the right to change the funds we make available without transaction fees and to reinstate fees on any funds. Funds are also subject to management fees and expenses. Charles Schwab & Co., Inc., member SIPC, receives remuneration from fund companies for record keeping, shareholder services and other administrative services for shares purchased through its Mutual Fund OneSource service. Schwab also may receive remuneration from transaction fee fund companies for certain administrative services. Schwab Personal Choice Retirement Account (PCRA) is offered through Charles Schwab & Co., Inc. (Member SIPC), the registered broker/dealer, which also provides other brokerage and custody services to its customers. Schwab Equity Ratings and the general buy/hold/sell guidance are not personal recommendations for any particular investor or client and do not take into account the financial, investment or other objectives or needs of, and may not be suitable for, any particular investor or client. Investors and clients should consider Schwab Equity Ratings as only a single factor in making their investment decision while taking into account the current market environment. The Charles Schwab Corporation (Charles Schwab) provides services to retirement and other benefit plans and participants as well as equity compensation plan services and other financial and retirement services to corporations and executives through its separate but affiliated companies and subsidiaries: Schwab Retirement Plan Services, Inc.; Schwab Retirement Plan Services Company; Charles Schwab Trust Company, a division of the Charles Schwab Bank; and Charles Schwab & Co., Inc. 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