Investment of Contributions

Participant Accounts

Plan assets are held in the trust established by the Declaration of Trust under which the Plan is established.

When you become a Plan participant, an individual account is established and maintained for you. Your account will reflect contributions received on your account and investment earnings or losses on the contributions to your account and your share of Plan expenses. Your account will be charged an initial fee of $25 to cover its set-up costs.

You will receive a quarterly statement which will indicate the value of your account and the transactions which have occurred in your account during the quarter.

You can direct the investment of your account balance among the mutual funds which the Trustees have made available under the Plan; the Plan Trustees will invest your account in accordance with your instructions. The investment funds currently available under the Plan are described below. You can obtain a prospectus for any of these funds by calling John Hancock Retirement Plan Services. ("John Hancock") at 1-833-388-6466 or 833-38-UNION, by accessing their website at myplan.johnhancock.com, or by contacting the Fund Office.

Growth Funds

Alger Capital Appreciation Institutional Fund: Seeks long-term capital appreciation. The fund normally invests at least 85% of its net assets, plus any borrowings for investment purposes, in equity securities of companies of any market capitalization that the adviser believes demonstrate promising growth potential. It can invest in foreign securities. Large-growth funds in big companies that are projected to grow faster than other large-cap stocks. Most of these funds focus on companies in rapidly expanding industries.

T. Rowe Price Growth Stock Fund: Seeks long-term growth of capital and, secondarily, increasing dividend income by investing primarily in common stocks of well-established growth companies. The fund normally (but not always) seeks investments in companies that have the ability to pay increasing dividends through strong cash flow. The fund involves the risk that the stock prices of the companies in the portfolio will fall or will fail to rise. Many factors can adversely affect a stock’s performance, including both general financial market conditions and factors related to a specific company of industry.

Blend Funds

Invesco Main Street Mid-Cap Fund: The investment seeks capital appreciation. Under normal market conditions, the fund will invest at least 80% of its net assets, including any borrowings for investment purposes in securities of "mid cap" companies. The fund mangers consider mid cap companies to be those having a market capitalization in the range of the Russell Midcapfi Index, a measure of mid cap issuers. The fund primarily invests in other types of securities, such as units of master limited partnerships or other securities that are consistent with its investment objective.

Columbia Mid Cap Index Fund: The investment seeks total return before fees and expenses that correspond to the total return of the Standard & Poor's  (S&P) MidCap 400fi Index. The fund invests at least 80% of its net assets (including the amount of any borrowings for investment purposes) in common stocks that comprise the S&P MidCap 400 Index. In seeking to match the performance of the index, the Investment Manager attempts to allocate the funds assets among common stocks in approximately the same weightings as the index. The manager attempts to achieve at least a 95% correlation between the performance of the index and the funds investment results, before fees and expenses.

American Funds EuroPacific Growth Fund: Seeks to provide long-term growth of capital by investing in companies based outside the United States. The fund invests primarily in common and preferred stocks, convertibles, American Depositary Receipts, European Depositary Receipts, bonds, and cash. All holdings are non-United States except a nominal portion that, for liquidity purposes, may be held in U.S. dollars and/or equivalents. International investing involves certain risks, such as currency fluctuations, economic instability, and political developments. Additional risks may be associated with emerging-market securities, including illiquidity and volatility.

Hartford Core Equity Fund: The investment seeks growth of capital. The fund normally invests at least 80% of its assets in common stocks. Its portfolio is broadly diversified by industry and company. The fund may invest in a broad range of market capitalization's, but tends to focus on large capitalization companies with market capitalization's similar to those of companies in the S&P 500 Index. It may invest up to 20% of its net assets in securities of foreign issuers and non-dollar securities.

Columbia Small Cap Index Fund: The Columbia Small Cap Index Fund is a fund that aims to deliver investment results that match the S&P Small Cap 600 Index. It is professionally managed using leading-edge technology to help in portfolio construction. It is a fund to capture the long-term growth potential of small U.S. companies.

Columbia Large Cap Index Fund: The investment seeks total return before fees and expenses that corresponds to the total return of the Standard & Poor's  (S&P) 500fi Index. Under normal circumstances, the fund invests at least 80% of its net assets (including the amount of any borrowings or investment purposes) in common stocks that comprise the S&P 500 Index (the index). In seeking to match the performance of the index, the Investment Manager attempts to allocate the funds assets among stocks in approximately the same weightings as the index. The fund may invest in derivatives, including futures (including equity index futures), for cash equitization purposes.

Value Funds

American Funds American Balanced Fund: Seeks to provide conservation of capital, current income, and long-term growth of capital and income by investing in stocks, bonds, and other fixed-income securities. The fund invests primarily in common stocks and preferred stocks, bonds, convertibles, and cash. The fund may invest up to 10% of its assets in securities of issuers domiciled outside the United States and not included in the S&P 500. The fund involves the risk that the stock prices of the companies in the portfolio will fall or will fail to rise. Many factors can adversely affect a stock’s performance, including both general financial market conditions and factors related to a specific company or industry.

American Funds Capital World Growth and Income Fund: Seeks to provide long-term growth of capital with current income by investing primarily in well-established companies located all over the world, including the United States. International investing involves certain risks, including currency fluctuations, economic instability, and political developments.

American Funds Washington Mutual Investors Fund: Seeks to provide current income and the opportunity for growth of principal consistent with sound common-stock investing. The fund seeks to be at least 95% invested in equity-type securities. The fund invests in stocks that meet strict standards evolving from requirements originally established by the U.S. District Court for the District of Columbia for the investment of trust funds. The fund may not invest in companies that derive their primary revenues from alcohol or tobacco. The fund involves the risk that the stock prices of the companies in the portfolio will fall or will fail to rise. Many factors can adversely affect a stock’s performance, including both general financial market conditions and factors related to a specific company or industry.

Putnam Large Cap Value Fund: The investment seeks capital growth and current income. The fund invests at least 80% of its net assets in common stocks and other equity investments that offer potential for current income and invests mainly in common stocks of U.S. companies, with a focus on value stocks that offer the potential for current income and may also offer the potential for capital growth.

Income Funds

John Hancock Bond Fund (Class I): The investment seeks a high level of current income consistent with prudent investment risk.  The fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in a diversified portfolio of bonds.  The advisor contemplates that at least 75% of its net assets will be in investment-grade debt securities and cash and cash equivalents.  It will not invest more than 10% of its total assets in securities denominated in foreign currencies.  Under normal market conditions, the advisor does not anticipate investing more than 25% of its total assets in U.S. dollar-denominated foreign securities (excluding Canadian securities). 

Capital Preservation Fund

The John Hancock Stable Value Guaranteed Income Fund: Seeks to preserve capital and provide stability of principal while earning current income that exceeds money market rates over the long term. The fund is a stable value product that guarantees principal and accumulated interest. Guarantees are provided to participating retirement plans through a group annuity contract issued by John Hancock Life Insurance Company (U.S.A.) The crediting rate will be set every January 1 and July 1 and will be generally guaranteed for 6 months. 

 

Target Date Funds		Year of Birth
JPMorgan SmartRetirement Income Fund (Institutional Class) JPMorgan SmartRetirement 2020 Fund (Institutional Class) JPMorgan SmartRetirement 2030 Fund (Institutional Class) JPMorgan SmartRetirement 2040 Fund (Institutional Class) JPMorgan SmartRetirement 2050 Fund (Institutional Class)		1950 or Earlier 1951 to 1960 1961 to 1970 1971 to 1980 1981 or 1990
JPMorgan SmartRetirement 2060 Fund (Institutional Class)		1991 or Later

The “target date” in a target date fund is the approximate date an investor plans to start withdrawing money. Because target date funds are managed to specific retirement dates, investors may be taking greater risk if the actual year of retirement differs dramatically from the original estimated date. Target date funds generally shift to a more conservative investment mix over time. While this may help to manage risk, it does not guarantee earnings growth nor is the fund’s principal value guaranteed at any time including at the target date. You do not have the ability to actively manage the investments within target date funds. The portfolio managers control security selection and asset allocation. Target date funds allocate their investments among multiple asset classes which can include U.S. and foreign equity and fixed income securities.

Participant Investment Direction

By allowing participants to direct the investment of their accounts, the Trustees intend the Plan to meet the requirements of Section 404(c) of the Employee Retirement Income Security Act of 1974 ("ERISA"). Under that section, the Plan trustees may be relieved of liability for any investment losses which are the direct and necessary result of investment instructions given by a participant or beneficiary.

A telephone system, John Hancock (1-800-388-6466) or 833-38-UNION and the website at myplan.johnhancock.com allows you to check your account values, change your investment elections for future contributions, or transfer amounts from one investment fund to another on any day on which the New York Stock Exchange is open. Instructions received and accepted by 4PM Eastern time will generally be processed at the closing price on that day; instructions received and accepted after 4PM or on a non-business day will generally be processed at the closing price on the next business day.

Your John Hancock enrollment packet contains more specific information about John Hancock's telephone system, its hours and its capabilities.

To protect your investments, if you are incapacitated for a period which is expected to last more than 10 Business Days and you have not appointed a legal representative, the Executive Administrator when informed of the incapacity will transfer your Account Balance to the New York Life Stable Value Fund until you inform the Plan that your incapacity no longer exists or until you have appointed a legal representative.

It is important to recognize that each investment fund represents a different balance of risk and reward. Each Plan participant must consider what level of risk and reward best suits his circumstances and tolerance for risk and direct the investment of his account accordingly. You may want to consider dividing your account among several of the investment funds to achieve the combination of risk and reward which is best for you. John Hancock has been engaged to provide general information to participants in an effort to educate them about the selection of an appropriate investment mix. If you would like information about any of the investment options, you can call the Fund Office or contact John Hancock through its telephone system 8AM through 10PM any business day.

Plan Amendment

The Trustees have the right to amend the Plan to add or remove investment options and require Plan participants to transfer into or out of certain investment funds at any time.

Valuation of Accounts

The trust is valued at fair market value at the close of business on the last business day of each calendar quarter. Valuation of the Trust is the basis for determining the value of your account. You share in the Plan’s investment gains and losses in each investment fund in the proportion that your account balance in each investment fund bears to the account balances of all participants in that investment fund and in accordance with the rules governing each of the mutual funds. As a practical matter, when you elect to invest in one or more of the mutual funds available under the Plan, you are electing to purchase units in the mutual fund, which can increase or decrease in value. Your overall Account Balance is the sum of your interest in all of the investment funds, that is, the value of all the mutual fund units purchased for your account, less any Plan expenses charged to your account. Your share of Plan expenses will include a charge for maintaining your account, any transaction charges that might specifically apply to your account, and a proportionate share of any general expenses