NOTICE
OF DEFAULT INVESTMENT ALTERNATIVE FOR THE
PLAN YEAR BEGINNING JULY 1st
Independent Newsmedia 401(k) Plan
Investment of Contributions
This notice advises you that you have the right to direct the investment of your existing Plan account assets and your future contributions. You may choose to invest your contributions in several different investment funds that have various degrees of risk and return. You can make an election regarding how your account should be invested in a number of ways:
• By completing an Enrollment Application,
• By calling the Plan’s toll free voice response unit (1-800-395-1113),
• By logging onto the Nationwide system website www.jhpensions.com/www.jhnypensions.com
• By calling Lincoln Benefits Group (1-800-826-7859) ext. 124
If you do not choose investment options any contributions made to the Plan on your behalf will be invested in a Qualified Default Investment Alternative (“QDIA”) or “default investment” selected by the Plan’s Investment Committee and investment advisor. Your existing account balance attributable to previous default investments and your future contributions for which no investment direction is provided by you will automatically be invested in the default investment described below.
The default investment for the Plan is the John Hancock Lifestyle Balanced Fund which is intended to meet the requirements of a QDIA based on Department of Labor regulations. This fund seeks to achieve a balance between a high level of current income and growth of capital by investing 40% of the assets in portfolios that invest primarily in fixed-income securities and approximately 60% of the assets primarily in equity securities. The funds expense ratio may vary. Please review the attached disclosure sheet for more information.
Transfers out of the Default Fund
You do not have to leave your money in the Plan’s QDIA If you decide that you want to invest your account differently, you may move all or any part of your account balance to other investment options offered under the Plan. Your transfer from the QDIA is not subject to any restrictions, fees or expenses (including redemption fees and similar expenses) during the first 90 days of your first investment in the QDIA or within any additional time it takes to complete your transfer. After such time period, your transfer from the QDIA will be subject to the same restrictions, fees and expenses as are applicable to other participants who affirmatively elect to invest in the QDIA. Information about these restrictions, fees and expenses are described on the attached fund sheet(s).
If you do not make an investment fund selection at the time you are enrolled and you later wish to invest your contributions in investment funds other than the default fund or if you need additional information regarding the investment funds available under the Plan you may initiate a transfer or obtain fund information online at www.jhpensions.com/www.jhnypensions.com or by calling the John Hancock at (800) 395-1113
Please note that changes to the investment of ongoing contributions must be made separately from changes to existing assets in your account.
Beneficiary Designation
You have the right to designate a beneficiary for your account by completing the beneficiary designation form provided in your enrollment package and returning it to your employer. If you do not designate a beneficiary for your account, benefits payable upon your death will be made to your spouse if you are married and to your estate if you are not married at the time of your death.
Questions and Additional Information
If you have any questions or need additional information regarding the Plan please contact the Plan’s advisor, LBG, at 800-826-7859.
