Perkins Mid Cap Value Fund Closure
The Board regularly evaluates the investment options under the Plan based on Plan Investment Policy guidelines. 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 Perkins Mid Cap Value Fund (JDPNX) 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 August 18, 2015
The Board also determined that it is appropriate to transfer the assets in the Perkins Mid Cap Value Fund to the Vanguard Mid Cap Index 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 exchange out of this fund on your own by August 17, 2015, your Plan account balance in the Perkins Mid Cap Value Fund will be transferred to the Vanguard Mid Cap Index Fund (VMCPX) on August 18, 2015 and any deferrals after this date will be directed to the Vanguard Mid Cap Index Fund.
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.