Your Individual Account

Determining the Value of Your Account

The date on which the Plan and each Individual Account in the Plan are valued is called the Valuation Date. Your Individual Account is valued on a daily basis. You will receive an electronic statement of the value of your Individual Account shortly after the end of each calendar quarter (March 31, June 30, September 30, December 31) unless you have elected to receive your statements on paper.

On each valuation date, the value of your Individual Account is determined as:

The amount of your Individual Account as of the last valuation date

PLUS

Employer contributions (including contributions reciprocated from other funds) received since the last valuation date and changes in the market value of your investment options since the last valuation date

MINUS

Any benefit payments made from your account and any operating expenses allocated to your account since the last valuation date.

The amount in your Individual Account will be adjusted periodically to reflect your share of the operating expenses of the Fund. An operating expense adjustment will be applied at least once each calendar quarter.

Note that due to unpredictable changes in the market, it is possible that the amount in your Individual Account will be less than the amount your employer contributed.