About Fidelity BrokerageLink A supplement to the MIT (k) Investment Transition Guide (Transition Guide)

Transcription

1 About Fidelity A supplement to the MIT (k) Investment Transition Guide (Transition Guide) If you would like to invest in funds outside MIT s new Core Line up, as described in the Transition Guide, you may do so by opening a Fidelity. With a Fidelity, you have the option to invest in more than 5,000 mutual funds, including almost all the funds that will not continue to be available in MIT s new Core Line up after July 17, Please remember, however, that funds accessed through are not reviewed, selected, endorsed or monitored by MIT or any fiduciary. Also, funds accessed through may be more expensive than comparable funds in MIT s new Core Line up. This document provides answers to questions that are frequently asked by individuals who have a or who are thinking about opening one. 1. The Transition Guide states that Investments accessed through are not reviewed, selected, endorsed or monitored by MIT or any Plan fiduciary, while investments in the new Core Line up are. What does this mean exactly? Who is in charge of this process, and what do they do? By law, The MIT Supplemental Oversight Committee has fiduciary responsibility for funds offered through the Core Line up, but not for funds accessed through. To meet this obligation and work in the best interests of plan participants, the Committee monitors investment funds and replaces them when necessary. Their review consists of quarterly evaluation of performance against benchmarks and qualitative assessments such as examining the turnover of fund management. 2. Is a still within the and does it retain its tax preferred treatment? Yes. While the brokerage is a retail platform the same platform that individuals who are not participating in a use to execute trades your investments in funds accessed through remain within the and retain their tax preferred treatment. 3. Can I invest some or all of my 401(k) assets in a? Yes. is one of your investment options in the Plan and you may invest any amount of your 401(k) savings into funds available through this brokerage. 4. Are there any funds not continuing in the new Core Line up that will not be available through? Yes, although the great majority of non continuing funds will be available through, there are 20 funds that will not. Here are the funds that will not be offered through the brokerage : Non Continuing Funds Not Available through BrokerageLInk Alger Capital Appreciation Institutional Fund Class I Strategic Advisers Core Multi Manager Fund Alger Mid Cap Growth Institutional Fund Class I Strategic Advisers Emerging Markets Fund of Funds Alger Small Cap Growth Institutional Fund Class I Strategic Advisers Income Opportunities Fund of Funds ClearBridge Value Trust Class FI Strategic Advisers International Multi Manager Fund Janus Balanced Fund Class S Strategic Advisers Small Mid Cap Multi Manager Fund Janus Enterprise Fund Class S Strategic Advisers Value Multi Manager Fund Janus Forty Fund Class S Strategic Advisers Growth Multi Manager Fund Janus Global Research Fund Class S Shares Vanguard Wellington Fund Admiral Shares Janus Overseas Fund Class S Vanguard Windsor II Fund Admiral Shares Strategic Advisers Core Income Multi Manager Fund Western Asset Core Bond Fund Class FI If you are invested in one of these funds and take no action, your balances will be transferred to funds in the new Core Line up according to the Investment Line up Transition Table starting on page 24 of the Transition Guide.

2 5. If I have a already set up, or if I set one up by June 5, 2015, what will happen to my investments in non continuing funds if I take no action? In this circumstance, all balances you have in non continuing funds will be transferred automatically in kind to corresponding funds in during the weekend following Friday, July 17, (If a corresponding fund does not exist in, as is the case for the 20 funds identified in question 4 above, balances will be transferred to funds in the Core Line up according to the Investment Line up Transition Table starting on page 24 of the Transition Guide.) If your balances are transferred automatically in this way, no transaction fees or redemption fees will apply. Also, any front end loads that may have been assessed on your original investment will not be re assessed. In some cases, the automatic transfer will involve moving from a lower cost institutional share class to a more expensive retail share class. In these situations, funds will be converted to the retail share class starting on Wednesday, June 24, 2015 in preparation for the automatic transfer to on Friday, July 17, You can avoid conversion to the more expensive retail share class by transferring your investments to funds in the new Core Line up by Tuesday, June 23, What is the meaning of an in kind transfer? An in kind transfer is the movement of the same number of shares of a fund to your without the need for a sale and re purchase. In this way, your shares will not be subject to market volatility and you will not have to pay transaction fees that may otherwise apply. 7. What if I have opened a and want to move some of my investments in noncontinuing funds to the Core Line up but also want to take advantage of the in kind transfer with respect to other investments? If there are some non continuing investments you would prefer to move to the Core Line up, it will be important for you to move those investments to funds in the Core Line up BEFORE July 17, 2015 to avoid having all your investments in non continuing funds transferred to. Any non continuing investments you have in your will be transferred in kind to as described in question 5 above during the weekend following July Will non continuing funds in be more expensive than they are now? In many cases, they will cost the same as they do now, but some funds may be more expensive. The appendix to this document includes a complete list of non continuing funds and compares the current expense ratio with the expense ratio that would apply in. The appendix also indicates if each fund has a transaction fee or a front end load. Keep in mind, however, that all transaction fees, redemption fees and other charges will be waived with respect to funds moved in kind to during the weekend following July Some of the non continuing funds shown in the appendix are closed. What does this mean? The appendix to this document shows non continuing funds eligible for an automatic in kind transfer to during the weekend following July 17 th. Funds shown as closed will not accept additional contributions from either current investors or new investors beyond the automatic inkind transfers. Decisions about opening or closing a fund are made by the management of the fund and may change over time. 10. How do I arrange to have my ongoing contributions allocated to a fund or funds in BrokerageLInk? Can I do this online? Can I do this in advance of the transition? First, you must open a if you don t already have one, which you can do online or by calling a Fidelity representative. To arrange for ongoing contributions to be allocated to a fund or funds in, however, you must call a Fidelity representative at 877-MIT-SAVE ( ). You may do this at any time before or after the transition.

3 11. Is there any advantage to opening a before the transition date just in case I want to use it sometime in the future? No, there is no advantage to doing so and there could be a disadvantage. If you have a open by June 5, 2015, all your non continuing funds will be transferred automatically in kind to during the weekend following July 17, which may not be your intention. 12. How do I understand the fees and other expenses that may apply in? In general, there are three types of fees that may be assessed in : transaction fees, short term redemption fees and loads. Fees vary by fund, and you can find out which fees apply to a specific fund by going on NetBenefits. You will find that Fidelity funds do not carry any transaction fees. Remember that no transaction fees, redemption fees or loads will be assessed if your funds are moved to as part of the automatic transfer process during the weekend following Friday, July 17, I have a that I don t use. Must I take action if I don t want an in kind transfer to occur? Yes. You must contact Fidelity by calling 877 MIT SAVE ( ) and request that the be closed. 14. Is a easy to identify online? While money directed to is held in an separate from your s, you will be able to view this online along with any investments in the Core Line up. In addition, your balance will be listed as a line item within your s. You will receive a separate statement quarterly that provides the detail of your individual holdings, and you will be able to view your holdings directly on NetBenefits. This is a new feature recently added. 15. What is the exact cost of enrolling in the after June 5, 2015? There is no cost to enroll in. In addition, during the transition, there is no initial investment requirement. After the transition, there will be a small initial investment required, to be determined. 16. Will non continuing fund names and ticker symbols stay the same when moved to? While the fund names will stay the same in, the tickers will be slightly different in for the non continuing funds that are moving to a different share class with a higher expense ratio. The funds will be identified by their legal fund names. 17. Can I move from back to the Core Line up? Yes. As is the case today, you may transfer from your back to the Core Line up at any time, subject to any redemption fees associated with your brokerage funds. Remember, however, that no redemption fees will apply to investments transferred automatically as part of the transition during the weekend following Friday, July 17, Would there be a one or two day business day lag in processing when moving from the back to the Core Line up? Yes. When invested in a fund within, the trade placed to sell the mutual fund must be completed in the with a one day settlement period before it is moved back. 19. If my balances were transferred to during the transition, will I incur transaction costs or redemption fees to move back to the Core Line up? No. No transaction costs or redemption fees will be assessed in this situation.

4 Appendix: ListofNon-ContinuingFundsEligibleforAutomaticIn-KindTransferto

5 M.I.T. vs. Plan? Aberdeen Global Fixed Income Fund Institutional Service Class CGFIX CGFIX 1.62% 1.62% No 0 Aberdeen US Equity Fund Class A GXXAX GXXAX 1.25% 1.25% No 5.75 Aberdeen US Equity Fund Institutional Service Class GXXIX GXXIX 1.07% 1.07% Yes 0 AllianzGI NFJ Small-Cap Value Fund Administrative Class PVADX PVADX 1.11% 1.11% AllianzGI NFJ Small-Cap Value Fund Institutional Class PSVIX PSVIX 0.86% 0.86% Yes 0 American Beacon Balanced Fund AABPX AABPX 0.93% 0.93% No 0 American Beacon International Equity Fund American Beacon Large Cap Value Fund American Beacon Short Term Bond Fund American Beacon Small Cap Value Fund American Century Investments Large Company Value Fund American Century Investments Small Company Fund American Century Investments Ultra Fund AAIPX AAIPX 1.06% 1.06% No 0 AAGPX AAGPX 0.94% 0.94% No 0 AALPX AALPX 0.91% 0.91% No 0 AVPAX AVPAX 1.17% 1.17% No 0 ALVIX ALVIX 0.85% 0.85% No 0 ASQIX ASQIX 0.87% 0.87% No 0 TWCUX TWCUX 1.01% 1.01% No 0 AMG Managers Bond Fund Service Class MGFIX MGFIX 1.03% 1.03% No 0 AMG Managers Cadence Capital Appreciation Fund Service Class AMG Managers Cadence Mid Cap Fund Service Class AMG Managers Special Equity Fund Service Class MCFYX MCFYX 1.07% 1.07% Yes 0 MCMYX MCMYX 1.02% 1.02% Yes 0 MGSEX MGSEX 1.50% 1.50% No 0 Ariel Appreciation Fund CAAPX CAAPX 1.13% 1.13% No 0 Ariel Fund ARGFX ARGFX 1.03% 1.03% No 0 Artisan International Fund ARTIX ARTIX 1.17% 1.17% No 0 Artisan Mid Cap Fund ARTMX ARTMX 1.20% 1.20% No 0 Baron Asset Fund Retail Class BARAX BARAX 1.31% 1.31% No 0 Baron Growth Fund Retail Shares BGRFX BGRFX 1.29% 1.29% No 0 Calvert Balanced Portfolio Class A CSIFX CSIFX 1.18% 1.18% No 0 Calvert Capital Accumulation Fund Class A CCAFX CCAFX 1.43% 1.43% No 0 1

6 M.I.T. vs. Plan? Calvert Equity Portfolio Class A CSIEX CSIEX 1.17% 1.17% No 0 Calvert International Equity Fund Class A CWVGX CWVGX 1.68% 1.68% No 0 Calvert Small Cap Fund Class A CCVAX CCVAX 1.61% 1.61% No 0 Columbia Acorn Select Fund Class Z ACTWX ACTWX 1.03% 1.03% Columbia Acorn USA Class Z AUSAX AUSAX 1.07% 1.07% Columbia Income Opportunities Fund Class Z CIOZX CIOZX 0.88% 0.88% Columbia Small Cap Core Fund Class Z SMCEX SMCEX 1.13% 1.13% CRM Mid Cap Value Fund Class Investor CRMMX CRMMX 1.04% 1.04% Deutsche Core Equity Fund Class S SCDGX SCDGX 0.59% 0.59% Deutsche Croci International Fund Class S SCINX SCINX 0.90% 0.90% Deutsche Equity Dividend Fund Class A KDHAX KDHAX 1.17% 1.17% No 0 Deutsche Global Small Cap Fund Class S SGSCX SGSCX 1.25% 1.25% Domini Social Equity Fund DSEFX DSEFX 1.20% 1.20% No 0 Dreyfus Mid Cap Growth Fund Class F FRSPX FRSPX 1.19% 1.19% No 0 Dreyfus Research Growth Fund, Inc. Class A DWOAX DWOAX 1.18% 1.18% No 0 Dreyfus Research Growth Fund, Inc. Class Z DREQX DREQX 0.95% 0.95% No 0 Fidelity Asset Manager 20% FASIX FASIX 0.53% 0.53% No 0 Fidelity Asset Manager 30% FTANX FTANX 0.55% 0.55% No 0 Fidelity Asset Manager 40% FFANX FFANX 0.56% 0.56% No 0 Fidelity Asset Manager 50% FASMX FASMX 0.66% 0.66% No 0 Fidelity Asset Manager 60% FSANX FSANX 0.73% 0.73% No 0 Fidelity Asset Manager 70% FASGX FASGX 0.73% 0.73% No 0 Fidelity Asset Manager 85% FAMRX FAMRX 0.75% 0.75% No 0 Fidelity Balanced Fund FBAKX FBALX 0.46% 0.56% No 0 Fidelity Emerging Markets Fund FKEMX FEMKX 0.86% 1.07% No 0 2

7 M.I.T. vs. Plan? Fidelity Equity-Income Fund FEIKX FEQIX 0.54% 0.69% No 0 Fidelity Fifty FFTYX FFTYX 0.83% 0.83% No 0 Fidelity Freedom 2005 Fund FFKVX FFFVX 0.50% 0.57% No 0 Fidelity Freedom 2010 Fund FFKCX FFFCX 0.53% 0.61% No 0 Fidelity Freedom 2015 Fund FKVFX FFVFX 0.55% 0.64% No 0 Fidelity Freedom 2020 Fund FFKDX FFFDX 0.57% 0.67% No 0 Fidelity Freedom 2025 Fund FKWTX FFTWX 0.61% 0.72% No 0 Fidelity Freedom 2030 Fund FFKEX FFFEX 0.65% 0.77% No 0 Fidelity Freedom 2035 Fund FKTHX FFTHX 0.66% 0.78% No 0 Fidelity Freedom 2040 Fund FFKFX FFFFX 0.66% 0.78% No 0 Fidelity Freedom 2045 Fund FFKGX FFFGX 0.66% 0.78% No 0 Fidelity Freedom 2050 Fund FFKHX FFFHX 0.65% 0.78% No 0 Fidelity Freedom 2055 Fund FDENX FDEEX 0.66% 0.78% No 0 Fidelity Freedom Income Fund FFKAX FFFAX 0.44% 0.49% No 0 Fidelity Blue Chip Growth Fund FBGKX FBGRX 0.68% 0.80% No 0 Fidelity Blue Chip Value Fund FBCVX FBCVX 0.73% 0.73% No 0 Fidelity Canada Fund FICDX FICDX 0.98% 0.98% No 0 Fidelity Capital & Income Fund FAGIX FAGIX 0.71% 0.71% No 0 Fidelity Capital Appreciation Fund FCAKX FDCAX 0.70% 0.82% No 0 Fidelity Cash Reserves FDRXX FDRXX 0.37% 0.37% No 0 Fidelity China Region Fund FHKCX FHKCX 1.01% 1.01% No 0 Fidelity Conservative Income Bond Fund FCONX FCONX 0.40% 0.40% No 0 Fidelity Contrafund FCNKX FCNTX 0.54% 0.64% No 0 Fidelity Convertible Securities Fund FCVSX FCVSX 0.58% 0.58% No 0 Fidelity Corporate Bond Fund FCBFX FCBFX 0.45% 0.45% No 0 Fidelity Disciplined Equity Fund FDEKX FDEQX 0.39% 0.50% No 0 Fidelity Diversified International Fund FDIKX FDIVX 0.78% 0.91% No 0 Fidelity Dividend Growth Fund FDGKX FDGFX 0.44% 0.56% No 0 Fidelity Emerging Asia Fund FSEAX FSEAX 1.04% 1.04% No 0 Fidelity Emerging Europe, Middle East, Africa (EMEA) Fund FEMEX FEMEX 1.37% 1.37% No 0 Fidelity Emerging Markets Discovery Fund FEDDX FEDDX 1.48% 1.48% No 0 Fidelity Equity Dividend Income Fund FETKX FEQTX 0.52% 0.63% No 0 3

8 M.I.T. vs. Plan? Fidelity Europe Fund FIEUX FIEUX 0.58% 0.58% No 0 Fidelity Export & Multinational Fund FEXKX FEXPX 0.64% 0.78% No 0 Fidelity Floating Rate High Income Fund FFRHX FFRHX 0.45% 0.45% No 0 Fidelity Focused High Income Fund FHIFX FHIFX 1.04% 1.04% No 0 Fidelity Focused Stock Fund FTQGX FTQGX 1.37% 1.37% No 0 Fidelity Four-in-One Index Fund FFNOX FFNOX 1.48% 1.48% No 0 Fidelity Fund FFDKX FFIDX 0.41% 0.53% No 0 Fidelity Global Balanced Fund FGBLX FGBLX 0.58% 0.58% No 0 Fidelity Global Bond Fund FGBFX FGBFX 0.45% 0.45% No 0 Fidelity Global Commodity Stock Fund FFGCX FFGCX 1.04% 1.04% No 0 Fidelity Global Equity Income Fund FGILX FGILX 1.37% 1.37% No 0 Fidelity Global High Income Fund FGHNX FGHNX 1.48% 1.48% No 0 Fidelity Global Strategies Fund FDYSX FDYSX 0.58% 0.58% No 0 Fidelity GNMA Fund FGMNX FGMNX 0.45% 0.45% No 0 Fidelity Government Income Fund FGOVX FGOVX 1.04% 1.04% No 0 Fidelity Government Money Market Fund SPAXX SPAXX 1.37% 1.37% No 0 Fidelity Growth & Income Portfolio FGIKX FGRIX 0.53% 0.66% No 0 Fidelity Growth Discovery Fund FGDKX FDSVX 0.68% 0.82% No 0 Fidelity Growth Strategies Fund FAGKX FDEGX 0.53% 0.72% No 0 Fidelity High Income Fund SPHIX SPHIX 1.48% 1.48% No 0 Fidelity Independence Fund FDFKX FDFFX 0.64% 0.73% No 0 Fidelity Inflation-Protected Bond Fund FINPX FINPX 0.58% 0.58% No 0 Fidelity Institutional Money Market - Money Market Portfolio Class I FMPXX FMPXX 0.45% 0.45% No 0 Fidelity Intermediate Bond Fund FTHRX FTHRX 1.04% 1.04% No 0 Fidelity Intermediate Government Income Fund FSTGX FSTGX 1.37% 1.37% No 0 Fidelity International Bond Fund FINUX FINUX 1.48% 1.48% No 0 Fidelity International Capital Appreciation Fund FIVFX FIVFX 0.58% 0.58% No 0 Fidelity International Discovery Fund FIDKX FIGRX 0.78% 0.91% No 0 Fidelity International Enhanced Index Fund FIENX FIENX 0.45% 0.45% No 0 Fidelity International Growth Fund FIGFX FIGFX 1.04% 1.04% No 0 Fidelity International Real Estate Fund FIREX FIREX 1.37% 1.37% No 0 4

9 M.I.T. vs. Plan? Fidelity International Small Cap Fund FISMX FISMX 1.48% 1.48% No 0 Fidelity International Small Cap Opportunities Fund FSCOX FSCOX 0.58% 0.58% No 0 Fidelity International Value Fund FIVLX FIVLX 0.45% 0.45% No 0 Fidelity Investment Grade Bond Fund FBNDX FBNDX 1.04% 1.04% No 0 Fidelity Japan Fund FJPNX FJPNX 1.37% 1.37% No 0 Fidelity Japan Smaller Companies Fund FJSCX FJSCX 1.48% 1.48% No 0 Fidelity Large Cap Core Enhanced Index Fund FLCEX FLCEX 0.58% 0.58% No 0 Fidelity Large Cap Growth Enhanced Index Fund FLGEX FLGEX 0.45% 0.45% No 0 Fidelity Large Cap Stock Fund FLCSX FLCSX 1.04% 1.04% No 0 Fidelity Large Cap Value Enhanced Index Fund FLVEX FLVEX 1.37% 1.37% No 0 Fidelity Latin America Fund FLATX FLATX 1.48% 1.48% No 0 Fidelity Leveraged Company Stock Fund FLCKX FLVCX 0.67% 0.79% No 0 Fidelity Low-Priced Stock Fund FLPKX FLPSX 0.72% 0.82% No 0 Fidelity Magellan Fund FMGKX FMAGX 0.42% 0.53% No 0 Fidelity Mega Cap Stock Fund FGRTX FGRTX 0.68% 0.68% No 0 Fidelity Mid Cap Enhanced Index Fund FMEIX FMEIX 0.62% 0.62% No 0 Fidelity Mid Cap Value Fund FSMVX FSMVX 0.80% 0.80% No 0 Fidelity Mid-Cap Stock Fund FKMCX FMCSX 0.68% 0.81% No 0 Fidelity Money Market Fund SPRXX SPRXX 0.01% 0.01% No 0 Fidelity Money Market Trust Retirement Government Money Market Portfolio FGMXX FGMXX 0.42% 0.42% No 0 Fidelity Mortgage Securities Fund FMSFX FMSFX 0.45% 0.45% No 0 Fidelity Nasdaq Composite Index Fund FNCMX FNCMX 0.55% 0.55% No 0 Fidelity New Markets Income Fund FNMIX FNMIX 0.90% 0.90% No 0 Fidelity New Millennium Fund FMILX FMILX 0.84% 0.84% No 0 Fidelity Nordic Fund FNORX FNORX 0.99% 0.99% No 0 Fidelity OTC Portfolio FOCKX FOCPX 0.65% 0.77% No 0 Fidelity Overseas Fund FOSKX FOSFX 0.88% 1.02% No 0 Fidelity Pacific Basin Fund FPBFX FPBFX 1.18% 1.18% No 0 Fidelity Puritan Fund FPUKX FPURX 0.46% 0.56% No 0 Fidelity Real Estate Income Fund FRIFX FRIFX 0.83% 0.83% No 0 Fidelity Real Estate Investment Portfolio FRESX FRESX 0.80% 0.80% No 0 5

10 M.I.T. vs. Plan? Fidelity Select Air Transportation Portfolio FSAIX FSAIX 0.87% 0.87% No 0 Fidelity Select Automotive Portfolio FSAVX FSAVX 0.84% 0.84% No 0 Fidelity Select Banking Portfolio FSRBX FSRBX 0.81% 0.81% No 0 Fidelity Select Biotechnology Portfolio FBIOX FBIOX 0.76% 0.76% No 0 Fidelity Select Brokerage and Investment Management Portfolio FSLBX FSLBX 0.79% 0.79% No 0 Fidelity Select Chemicals Portfolio FSCHX FSCHX 0.81% 0.81% No 0 Fidelity Select Communications Equipment Portfolio FSDCX FSDCX 0.92% 0.92% No 0 Fidelity Select Computers Portfolio FDCPX FDCPX 0.82% 0.82% No 0 Fidelity Select Construction and Housing Portfolio Fidelity Select Consumer Discretionary Portfolio FSHOX FSHOX 0.81% 0.81% No 0 FSCPX FSCPX 0.82% 0.82% No 0 Fidelity Select Consumer Finance Portfolio FSVLX FSVLX 0.85% 0.85% No 0 Fidelity Select Consumer Staples Portfolio FDFAX FDFAX 0.79% 0.79% No 0 Fidelity Select Defense and Aerospace Portfolio FSDAX FSDAX 0.81% 0.81% No 0 Fidelity Select Electronics Portfolio FSELX FSELX 0.82% 0.82% No 0 Fidelity Select Energy Portfolio FSENX FSENX 0.80% 0.80% No 0 Fidelity Select Energy Service Portfolio FSESX FSESX 0.80% 0.80% No 0 Fidelity Select Environment and Alternative Energy Portfolio FSLEX FSLEX 0.97% 0.97% No 0 Fidelity Select Financial Services Portfolio FIDSX FIDSX 0.86% 0.86% No 0 Fidelity Select Gold Portfolio FSAGX FSAGX 0.94% 0.94% No 0 Fidelity Select Health Care Portfolio FSPHX FSPHX 0.77% 0.77% No 0 Fidelity Select Industrial Equipment Portfolio FSCGX FSCGX 0.79% 0.79% No 0 Fidelity Select Industrials Portfolio FCYIX FCYIX 0.81% 0.81% No 0 Fidelity Select Insurance Portfolio FSPCX FSPCX 0.83% 0.83% No 0 Fidelity Select IT Services Portfolio FBSOX FBSOX 0.84% 0.84% No 0 Fidelity Select Leisure Portfolio FDLSX FDLSX 0.82% 0.82% No 0 Fidelity Select Materials Portfolio FSDPX FSDPX 0.82% 0.82% No 0 Fidelity Select Medical Delivery Portfolio FSHCX FSHCX 0.82% 0.82% No 0 Fidelity Select Medical Equipment and Systems Portfolio FSMEX FSMEX 0.80% 0.80% No 0 Fidelity Select Money Market Portfolio FSLXX FSLXX 0.30% 0.30% No 0 6

11 M.I.T. vs. Plan? Fidelity Select Multimedia Portfolio FBMPX FBMPX 0.81% 0.81% No 0 Fidelity Select Natural Gas Portfolio FSNGX FSNGX 0.84% 0.84% No 0 Fidelity Select Natural Resources Portfolio FNARX FNARX 0.84% 0.84% No 0 Fidelity Select Pharmaceuticals Portfolio FPHAX FPHAX 0.82% 0.82% No 0 Fidelity Select Retailing Portfolio FSRPX FSRPX 0.83% 0.83% No 0 Fidelity Select Software and Computer Services Portfolio FSCSX FSCSX 0.79% 0.79% No 0 Fidelity Select Technology Portfolio FSPTX FSPTX 0.80% 0.80% No 0 Fidelity Select Telecommunications Portfolio FSTCX FSTCX 0.85% 0.85% No 0 Fidelity Select Transportation Portfolio FSRFX FSRFX 0.85% 0.85% No 0 Fidelity Select Utilities Portfolio FSUTX FSUTX 0.82% 0.82% No 0 Fidelity Select Wireless Portfolio FWRLX FWRLX 0.88% 0.88% No 0 Fidelity Short-Term Bond Fund FSHBX FSHBX 0.45% 0.45% No 0 Fidelity Small Cap Discovery Fund FSCRX FSCRX 1.01% 1.01% No 0 Fidelity Small Cap Enhanced Index Fund FCPEX FCPEX 0.73% 0.73% No 0 Fidelity Small Cap Growth Fund FCPGX FCPGX 0.91% 0.91% No 0 Fidelity Small Cap Stock Fund FSLCX FSLCX 0.68% 0.68% No 0 Fidelity Small Cap Value Fund FCPVX FCPVX 1.09% 1.09% No 0 Fidelity Stock Selector All Cap Fund FSSKX FDSSX 0.58% 0.67% No 0 Fidelity Stock Selector Large Cap Value Fund FSLVX FSLVX 0.72% 0.72% No 0 Fidelity Stock Selector Mid Cap Fund FSSMX FSSMX 0.81% 0.81% No 0 Fidelity Stock Selector Small Cap Fund FDSCX FDSCX 0.73% 0.73% No 0 Fidelity Strategic Dividend & Income Fund FSDIX FSDIX 0.74% 0.74% No 0 Fidelity Strategic Income Fund FSICX FSICX 0.69% 0.69% No 0 Fidelity Strategic Real Return Fund FSRRX FSRRX 0.77% 0.77% No 0 Fidelity Telecom and Utilities Fund FIUIX FIUIX 0.76% 0.76% No 0 Fidelity Total Bond Fund FTBFX FTBFX 0.45% 0.45% No 0 Fidelity Total Emerging Markets Fund FTEMX FTEMX 1.73% 1.73% No 0 Fidelity Total International Equity Fund FTIEX FTIEX 1.04% 1.04% No 0 Fidelity Treasury Only Money Market Fund FDLXX FDLXX 0.42% 0.42% No 0 Fidelity Trend Fund FTRNX FTRNX 0.75% 0.75% No 0 Fidelity U.S. Government Reserves FGRXX FGRXX 0.32% 0.32% No 0 Fidelity Value Discovery Fund FVDKX FVDFX 0.66% 0.80% No 0 7

12 M.I.T. vs. Plan? Fidelity Value Fund FVLKX FDVLX 0.62% 0.76% No 0 Fidelity Value Strategies Fund FVSKX FSLSX 0.53% 0.69% No 0 Fidelity Worldwide Fund FWWFX FWWFX 0.96% 0.96% No 0 FPA Crescent Fund FPACX FPACX 1.23% 1.23% Yes 0 Franklin Mutual Global Discovery Fund Class A TEDIX TEDIX 1.28% 1.28% No 5.75 Franklin Mutual Shares Fund Class A TESIX TESIX 1.09% 1.09% No 5.75 Franklin Small-Mid Cap Growth Fund Class A FRSGX FRSGX 0.96% 0.96% No 5.75 Invesco American Franchise Fund Class A VAFAX VAFAX 1.08% 1.08% No 5.5 Invesco Charter Fund Class A CHTRX CHTRX 1.09% 1.09% No 5.5 Invesco Comstock Fund Class A ACSTX ACSTX 0.83% 0.83% No 5.5 Invesco Diversified Dividend Fund LCEIX LCEIX 0.78% 0.78% No 0 Invesco Equity and Income Fund Class A ACEIX ACEIX 0.81% 0.81% No 5.5 Invesco Global Small & Mid Cap Growth Fund Class A AGAAX AGAAX 1.37% 1.37% No 5.5 Invesco Growth and Income Fund Class A ACGIX ACGIX 0.85% 0.85% No 5.5 Invesco Mid Cap Core Equity Fund Class A GTAGX GTAGX 1.22% 1.22% No 5.5 Invesco Mid Cap Growth Fund Class A VGRAX VGRAX 1.21% 1.21% No 5.5 Invesco Small Cap Growth Fund GTSIX GTSIX 1.21% 1.21% No 0 Invesco Value Opportunities Fund Class A VVOAX VVOAX 1.25% 1.25% No 5.5 Janus Flexible Bond Fund Class T JAFIX JAFIX 0.70% 0.70% No 0 John Hancock Small Company Fund Class A JCSAX JCSAX 1.46% 1.46% No 5 Loomis Sayles Small Capital Value Fund Retail Class LSCRX LSCRX 1.34% 1.34% No 0 Lord Abbett Mid Cap Stock Fund Class A LAVLX LAVLX 1.23% 1.23% No 5.75 Morgan Stanley Institutional Active International Allocation Fund Class A Morgan Stanley Institutional Core Plus Fixed Income Portfolio Class A Morgan Stanley Institutional Fund Trust Mid Cap Growth Portfolio Class A Morgan Stanley Institutional Fund, Inc. Emerging Markets Portfolio Class A Morgan Stanley Institutional Fund, Inc. Growth Portfolio Class A Morgan Stanley Institutional Fund, Inc. International Equity Portfolio Class A MSIBX MSIBX 1.25% 1.25% No 0 MFXAX MFXAX 1.11% 1.11% No 0 MACGX MACGX 1.00% 1.00% No 0 MMKBX MMKBX 1.78% 1.78% No 0 MSEGX MSEGX 0.96% 0.96% No 0 MIQBX MIQBX 1.25% 1.25% No 0 8

13 M.I.T. vs. Plan? Morgan Stanley Institutional Fund, Inc. Small Company Growth Portfolio Class A Morgan Stanley Institutional Global Strategist Portfolio Class A Neuberger Berman Core Bond Fund MSSMX MSSMX 1.35% 1.35% No 0 MBAAX MBAAX 1.14% 1.14% No 0 NCRIX NCRIX 1.15% 1.15% Yes 0 Neuberger Berman Focus Fund Trust Class NBFCX NBFCX 1.11% 1.11% No 0 Neuberger Berman Genesis Fund Trust Class NBGEX NBGEX 1.10% 1.10% No 0 Neuberger Berman Guardian Fund Trust Class NBGTX NBGTX 1.06% 1.06% No 0 Neuberger Berman Large Cap Value Fund Trust Class Neuberger Berman Mid Cap Growth Fund Trust Class Neuberger Berman Socially Responsive Fund Trust Class NBPTX NBPTX 1.08% 1.08% No 0 NBMTX NBMTX 1.01% 1.01% No 0 NBSTX NBSTX 1.03% 1.03% No 0 Oakmark Equity And Income Fund Class I OAKBX OAKBX 0.74% 0.74% No 0 Oakmark Fund Class I OAKMX OAKMX 0.87% 0.87% No 0 Oakmark Select Fund Class I OAKLX OAKLX 0.95% 0.95% No 0 Perkins Mid Cap Value Fund Class T JMCVX JMCVX 0.74% 0.74% No 0 PIMCO Global Bond (Unhedged) Fund Administrative Class PADMX PADMX 0.81% 0.81% PIMCO High Yield Fund Administrative Class PHYAX PHYAX 0.80% 0.80% PIMCO Long-Term U.S. Government Fund Administrative Class PLGBX PLGBX 0.74% 0.74% PIMCO Low Duration Fund Administrative Class PLDAX PLDAX 0.71% 0.71% PIMCO Total Return Fund Administrative Class PTRAX PTRAX 0.71% 0.71% Rice Hall James Micro Cap Portfolio Institutional Class RHJSX RHJSX 1.54% 1.54% No 0 Royce Low-Priced Stock Fund Service Class RYLPX RYLPX 1.51% 1.51% No 0 RS Small Cap Growth Fund Class A RSEGX RSEGX 1.41% 1.41% No 4.75 Schroder Emerging Market Equity Fund Class Investor SEMNX SEMNX 1.40% 1.40% Yes 0 Spartan 500 Index Fund FXSIX FUSEX 0.05% 0.10% No 0 9

14 M.I.T. vs. Plan? Spartan Emerging Markets Index Fund Fidelity Advantage Class Spartan Extended Market Index Fund Fidelity Advantage Class Spartan Global ex U.S. Index Fund Fidelity Advantage Class Spartan Inflation-Protected Bond Index Fund Fidelity Advantage Class Spartan Intermediate Treasury Bond Index Fund Fidelity Advantage Class Spartan International Index Fund Fidelity Advantage Class Spartan Long-Term Treasury Bond Index Fund Fidelity Advantage Class Spartan Mid Cap Index Fund Fidelity Advantage Class Spartan Real Estate Index Fund Fidelity Advantage Class Spartan Short-Term Treasury Bond Index Fund Fidelity Advantage Class Spartan Small Cap Index Fund Fidelity Advantage Class Spartan Total Market Index Fund Fidelity Advantage Class FPMAX FPMAX 0.35% 0.35% No 0 FSEVX FSEVX 0.07% 0.07% No 0 FSGDX FSGDX 0.28% 0.28% No 0 FSIYX FSIYX 0.10% 0.10% No 0 FIBAX FIBAX 0.10% 0.10% No 0 FSIVX FSIVX 0.17% 0.17% No 0 FLBAX FLBAX 0.10% 0.10% No 0 FSCKX FSCKX 0.21% 0.21% No 0 FSRVX FSRVX 0.19% 0.19% No 0 FSBAX FSBAX 0.10% 0.10% No 0 FSSVX FSSVX 0.34% 0.34% No 0 FSTVX FSTVX 0.07% 0.07% No 0 Spartan U.S. Bond Index Fund FXSTX FBIDX 0.07% 0.22% No 0 TCW Select Equities Fund Class N TGCNX TGCNX 1.13% 1.13% No 0 TCW Small Cap Growth Fund Class N TGSNX TGSNX 1.46% 1.46% No 0 Templeton Developing Markets Trust Class A TEDMX TEDMX 1.71% 1.71% No 5.75 Templeton Foreign Fund Class A TEMFX TEMFX 1.16% 1.16% No 5.75 Templeton Foreign Smaller Companies Fund Class A FINEX FINEX 1.67% 1.67% No 5.75 Templeton Global Bond Fund Class A TPINX TPINX 0.91% 0.91% No 4.25 Templeton Growth Fund, Inc. Class A TEPLX TEPLX 1.03% 1.03% No 5.75 Templeton World Fund Class A TEMWX TEMWX 1.05% 1.05% No 5.75 Touchstone Focused Fund Class Y TFFYX TFFYX 1.03% 1.03% Yes 0 Touchstone International Small Cap Fund Class Y TNSYX TNSYX 1.46% 1.46% Yes 0 USAA Cornerstone Moderately Aggressive Fund USCRX USCRX 1.26% 1.26% Yes 0 USAA Emerging Markets Fund USEMX USEMX 1.52% 1.52% Yes 0 USAA Government Securities Fund USGNX USGNX 0.47% 0.47% Yes 0 10

15 M.I.T. vs. Plan? USAA Growth Fund USAAX USAAX 1.12% 1.12% Yes 0 USAA Income Fund USAIX USAIX 0.59% 0.59% Yes 0 USAA Income Stock Fund USISX USISX 0.80% 0.80% Yes 0 USAA International Fund USIFX USIFX 1.16% 1.16% Yes 0 Vanguard Institutional Index Fund Institutional Shares VINIX VINIX 0.04% 0.04% Vanguard Total Stock Market Index Fund Institutional Shares VITSX VITSX 0.04% 0.04% Wells Fargo Advantage Common Stock Fund Wells Fargo Advantage Discovery Fund Wells Fargo Advantage Government Securities Fund Wells Fargo Advantage Growth Fund Wells Fargo Advantage Large Cap Growth Fund Wells Fargo Advantage Opportunity Fund Wells Fargo Advantage Short-Term Bond Fund Wells Fargo Advantage Small Cap Value Fund Wells Fargo Advantage Ultra Short Income Fund STCSX STCSX 1.36% 1.36% No 0 STDIX STDIX 1.31% 1.31% No 0 STVSX STVSX 0.92% 0.92% No 0 SGROX SGROX 1.24% 1.24% No 0 STRFX STRFX 1.28% 1.28% No 0 SOPFX SOPFX 1.33% 1.33% No 0 SSTBX SSTBX 0.84% 0.84% No 0 SSMVX SSMVX 1.41% 1.41% No 0 STADX STADX 0.81% 0.81% No 0 Ratios as of 2/28/2015 Keep in mind that investing involves risk. The value of your investment will fluctuate over time and you may gain or lose money. A mutual fund expense ratio is the total annual fund or class operating expenses (before waivers or reimbursements) paid by the fund and stated as a percent of the fund s total net assets. For other types of investments, the figure in the expense ratio field reflects similar information, but may have been calculated differently than for mutual funds. Mutual fund data comes from the fund s prospectus. For non-mutual fund investment options, the information has been provided by the plan sponsor, the investment option s manager or the trustee. When no ratio is shown for these options it is because none was available. There may be fees and expenses associated with the investment option. information changes periodically. Please consult NetBenefits for updates. Fidelity Brokerage Services LLC, Member NYSE, SIPC, 900 Salem Street, Smithfield, RI