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KNOXKNEWS Knox County Retirement & Pension Board Volume 18

Knox County Employee Retirement System For Knox County Government & Classified School Employees, Participants & Retirees Employee Retirement & Asset Accumulation Program Investment Fund Changes

March 2017 BOARD MEMBERS

Commissioner Ed Brantley Mayor Tim Burchett Employee Elected Representative Ms. Tracy Foster

The Knox County Retirement & Pension Board along with USI Consulting Group, monitors the funds in the Employee Retirement & Asset Accumulation Plan and the Knox County Voluntary 457 Plan. After careful consideration and upon the recommendation of USI Consulting Group, the Board has approved changes to various investment funds. In order for the changes to take place, a “Blackout” period will occur. A Blackout is a period of time when no transactions are allowed, such as distributions and/or fund transfers. During the blackout period you may access your account, however no changes can be made. Please keep in mind that any funds being replaced will have similar investment objectives.

The Blackout Period is 4/28/17 - 5/8/17 Employee Elected Representative Ms. Jennifer Hemmelgran Employee Elected Representative Ms. Robin Moody Commissioner Hugh Nystrom

Notice: These fund changes only apply the Asset Accumulation Plan, the Knox County Voluntary 457 Plan, MERP, and STAR.

Commissioner John Schoonmaker Commissioner Bob Thomas Employee Elected Representative Mr. Zack Webb

Disclaimer to Fund Notice:

The Knox County Retirement System Asset Accumulation Program, Voluntary 457(b) Plan, and STAR are individual account plans invested as directed by individual participants (including retirees and surviving beneficiaries). The Pension Board makes available investment choices for your consideration, based on the advice of its professional investment consultant. However, all available choices may not necessarily be appropriate for you, taking account of your investment objectives, time horizons and risk tolerances.

K NOXK NE WS

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VOLUME 18

Blend Investment Changes  Current Ultra Aggressive Portfolio Target %

New Ultra Aggressive Portfolio

Fund Name

Ticker

Category

Target % Fund Name

Ticker

Category

10%

American Funds Fundamental Invs A

ANCFX

Large Blend

10%

Columbia Disciplined Value A

RLCAX

Large Value

7%

Dreyfus Research Growth A

DWOAX

Large Growth

10%

American Funds Fundamental Invs A

ANCFX

Large Blend

5%

Ivy Large Cap Growth A

WLGAX

Large Growth

10%

Goldman Sachs Large Cap Gr Insghts A

GLCGX

Large Growth

13%

Nuveen Mid Cap Growth Opps A

15%

Columbia Select Smaller-Cap Value A

FRSLX

Mid-Cap Growth

15%

Dreyfus Structured Midcap A

DPSAX

Mid-Cap Blend

SSCVX

Small Blend

15%

Goldman Sachs Small Cap Eq Insghts A

GCSAX

Small Blend

25%

American Funds Europacific Growth A

AEPGX

Foreign Large Growth

10%

American Funds Europacific Growth A

AEPGX

LAIAX

Foreign Small/Mid Growth

5%

Columbia Acorn International A

Oppenheimer Developing Markets A

ODMAX

Diversified Emerging Mkts

10%

Oppenheimer Developing Markets A

ODMAX

Foreign Large Growth Foreign Small/Mid Growth Diversified Emerging Mkts

5%

Columbia Acorn International A

5% 5%

Columbia Seligman Comms & Info A

SLMCX

Technology

10%

Columbia Seligman Comms & Info A

SLMCX

Technology

10%

First Eagle Global A

SGENX

World Allocation

5%

First Eagle Global A

SGENX

World Allocation

Current Aggressive Portfolio Target %

Fund Name

LAIAX

New Aggressive Portfolio

Ticker

Category

Target % Fund Name

Ticker

Category

20%

Jhancock Disciplined Value A

JVLAX

Large Value

12%

Jhancock Disciplined Value A

JVLAX

Large Value

20%

T. Rowe Price Growth Stock R

RRGSX

Large Growth

12%

Columbia Disciplined Growth A

RDLAX

Large Growth

5%

Columbia Mid Cap Value A

CMUAX

Mid-Cap Value

10%

Columbia Mid Cap Value A

CMUAX

Mid-Cap Value

10%

First Eagle Fund of America A

FEFAX

Mid-Cap Blend

10%

Ivy Mid Cap Growth A

WMGAX

Mid-Cap Growth

5%

Ivy Mid Cap Growth A

WMGAX

Mid-Cap Growth

8%

Nuveen Small Cap Value A

FSCAX

Small Value

10%

First Eagle Overseas A

SGOVX

Foreign Large Blend

8%

Ivy Small Cap Growth A

WSGAX

Small Growth

10%

Goldman Sachs Intl Sm Cp Insghts A

GICAX

Foreign Small/Mid Value

10%

First Eagle Overseas A

SGOVX

20%

Invesco Stable Value

Stable Value

10%

Invesco Developing Markets A

GTDDX

Foreign Large Blend Diversified Emerging Mkts

20%

Invesco Stable Value

-

Current Balanced Portfolio Target %

-

Stable Value

New Balanced Portfolio

Fund Name

Ticker

Category

Ticker

Category

12%

Pioneer Equity Income A

PEQIX

Large Value

10%

Pioneer Equity Income A

PEQIX

Large Value

12%

American Funds AMCAP A

AMCPX

Large Growth

10%

American Funds AMCAP A

AMCPX

Large Growth

5%

JAMCX

Mid-Cap Blend

8%

JPMorgan Mid Cap Value A

JAMCX

Mid-Cap Blend

5%

JPMorgan Mid Cap Value A Dreyfus/The Boston Co Sm/Md Cp Gr A

DBMAX

Mid-Cap Growth

6%

JPMorgan Small Cap Value A

PSOAX

Small Value

3%

JPMorgan Small Cap Value A

PSOAX

Small Value

6%

AB Small Cap Growth A

QUASX

Small Growth

3%

AB Small Cap Growth A

QUASX

Small Growth

5%

Ivy International Core Equity A

8%

Ivy International Core Equity A

Foreign Large Blend

5%

MFS International New Discovery R3

MIDHX

5%

MFS International New Discovery R3

MIDHX

Foreign Small/Mid Growth

5%

Columbia Emerging Markets A

EEMAX

Foreign Large Blend Foreign Small/Mid Growth Diversified Emerging Mkts

8%

Columbia Emerging Markets A

EEMAX

Diversified Emerging Mkts

5%

Dreyfus Global Real Estate Securities A

DRLAX

Real Estate

5%

Voya Real Estate A

CLARX

Real Estate

3%

Pioneer Global Multisector Inc A

PGABX

World Bond

8%

Goldman Sachs Emerging Mkt Debt A

GSDAX

Emerging Markets Bond

4%

Jhancock Bond A

JHNBX

Intermediate-Term Bond

5%

Pioneer Global Multisector Inc A

PGABX

World Bond

3%

Pioneer Short Term Income A

STABX

Short-Term Bond

8%

Jhancock Bond A

JHNBX

Intermediate-Term Bond

30%

Transamerica Stable Value Option - 470

4%

Pioneer Short Term Income A Transamerica Stable Value Option 470

STABX

Short-Term Bond

9%

IVIAX

-

Stable Value

Target % Fund Name

IVIAX

-

Stable Value

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VOLUME 18

PAGE 3

Current Moderate Portfolio Target %

New Moderate Portfolio

Fund Name

Ticker

Category

10%

T. Rowe Price Equity Income R

RRFDX

Large Value

8%

Dreyfus Strategic Value A

10%

Columbia Contrarian Core A

LCCAX

Large Blend

8%

JPMorgan Growth Advantage A

15%

JPMorgan Growth Advantage A

VHIAX

Large Growth

4%

MFS Mid Cap Value R3

5%

Franklin Small-Mid Cap Growth A

FRSGX

Mid-Cap Growth

4%

Hartford MidCap R4

HFMSX

Mid-Cap Growth

10%

Pioneer Bond A

PIOBX

Intermediate-Term Bond

3%

Franklin Small Cap Value A

FRVLX

Small Value

50%

Federated Capital Preservation Fund

-

Target % Fund Name

Stable Value

Category

DAGVX

Large Value

VHIAX

Large Growth

MVCHX

Mid-Cap Value

3%

Goldman Sachs Small Cap Gr Insghts A

GSAOX

Small Growth

10%

Oppenheimer International Diversified A

OIDAX

Foreign Large Growth

5%

Jhancock Strategic Income Opps R2

JIPPX

5%

Pioneer Bond A

PIOBX

Multisector Bond Intermediate-Term Bond

50%

Federated Capital Preservation Fund

Current Conservative Portfolio Target %

Ticker

-

Stable Value

New Conservative Portfolio

Fund Name

Ticker

Category

Ticker

Category

10%

American Funds Invmt Co of Amer A

AIVSX

Large Blend

10%

American Funds Invmt Co of Amer A

AIVSX

Large Blend

10%

American Funds New Economy A

ANEFX

Large Growth

5%

American Funds New Economy A

ANEFX

Large Growth

5%

Franklin US Government Secs A

FKUSX

Intermediate Government

5%

Goldman Sachs Intl Eq Insghts A

GCIAX

5%

American Funds Interm Bd Fd Of Amer A

AIBAX

Short-Term Bond

5%

Franklin US Government Secs A

FKUSX

Foreign Large Blend Intermediate Government

70%

Diversified Stable Value

Stable Value

5%

American Funds Interm Bd Fd Of Amer A

AIBAX

Short-Term Bond

70%

Diversified Stable Value

-

Target % Fund Name

Current Fixed Income Portfolio Target %

Stable Value

New Fixed Income Portfolio

Fund Name

Ticker

Category

5%

Pioneer Strategic Income A

PSRAX

Multisector Bond

5%

5%

JPMorgan Core Bond A

PGBOX

Intermediate-Term Bond

5%

Voya GNMA Income A

LEXNX

Intermediate Government

5%

Eaton Vance Government Obligations A

EVGOX

80%

Morley Stable Value III - Knox

-

-

Target % Fund Name

Ticker

Category

Pioneer Strategic Income A

PSRAX

5%

AB Intermediate Bond A

ABQUX

Multisector Bond Intermediate-Term Bond

5%

PIMCO Short-Term A

PSHAX

Ultrashort Bond

Short Government

5%

Oppenheimer Senior Floating Rate A

OOSAX

Bank Loan

Stable Value

80%

Standard Stable Value 5

-

Stable Value

INVESTMENT CHANGE FOR THE STAND ALONE FUND The Stand Alone Fund of Morley Stable Value II is being replaced with the Standard Stable Value 3.

TO KNOX COUNTY RETIREES IMPORTANT KNOX COUNTY RETIREE LUNCHEON INFO APRIL 11, 2017 If you have not received your invitation to the retiree luncheon or if your RSVP has not been mailed and you plan on attending, please call the Retirement Office AS SOON AS POSSIBLE at 865-215-2323.

KNOX COUNTY RETIREMENT & PENSION BOARD CITY-COUNTY BUILDING 400 MAIN STREET SUITE 371 KNOXVILLE, TN 37902

Investment Fund Changes in April, 2017 and Important Retiree Luncheon Information