Eaton Vance Large Cap Value Fund Closure
The Board regularly evaluates the investment options under the Plan based on Plan Investment Policy guidelines. The Plan’s Investment Policy is available under the Plan Guidelines tab for your review. Plan investment options may be removed when the Board and its independent investment advisor determine that the fund is no longer an appropriate investment option for the Plan. The Board has decided to remove the Eaton Vance Large Cap Value Fund (EILVX) as an investment option because of the fund’s continued underperformance relative to its benchmark and recent changes in the portfolio management team. The Fund will be removed as an investment option under the Plan on October 28, 2014.
The Board also determined that it is appropriate to transfer the assets in the Eaton Vance Large Cap Value Fund to the T. Rowe Price Equity Income Fund. When a fund in the Plan is removed as an investment option, participants may choose to move those balances to other available investment options offered in the Plan. This may be done by speaking to a HELPLINE representative at 800-422-8463, or online in the secure portion of the Plan’s Web site. If you do not make changes to your allocation and/or exchange out of this fund on your own by October 28, 2014, your Plan account balance in the Eaton Vance Large Cap Value Fund will be transferred to the T. Rowe Price Equity Income Fund (PRFDX).
Changes in your Plan’s investment options offer you an excellent opportunity to reevaluate your personal investment strategy and fund options within your retirement account. Please feel free to call the HELPLINE should you have any questions.