International UAW

• Funding Health Care Costs After Age 65

The International UAW has announced upcoming investment option changes for the International UAW Staff Severance Plan. Two funds will change share class following the market close on May 17, 2016. As a result of the share class changes, the fund codes and ticker symbols will change. For each fund, the new share class will have the same investment objectives and underlying investment holdings as the funds they are replacing. The only difference is that they represent a different share class and offer a lower fund expense.

Balances in, and contributions to the closing funds will automatically transfer to the new share class funds in the plan unless directed elsewhere by the participant.

To discuss these important changes to the International UAW 401(k) plan and how they may impact your current portfolio allocation, do not hesitate to contact Mainstay toll-free at 1-866-444-6246.

There will be several changes within the International UAW Staff Severance Plan over the next few months. The effective date of these changes will be July 1, 2015.

The Fidelity^® Fund - Class K fund will close and be replaced by an investment option currently offered by the Plan. Assets presently invested in, or contributions (including loan repayments) currently being directed to, the Fidelity^® Fund - Class K fund will automatically shift to the existing fund without any action from the participant.

Additionally, the Fidelity Freedom K^® Funds will become the Plan’s Designated Default Fund for the UAW Staff Severance Plan. Currently the UAW Strategy Fund is the Plan’s Designated Default Fund.

For participants without an investment election on file at Fidelity (thereby defaulting to the UAW Strategy Fund), an automatic transfer to the Fidelity Freedom K^® Funds will occur if no election is made as of market close on August, 21, 2015.

A special election window will be established for participants without an investment election on file at Fidelity. During this election window period, participants can elect to have current assets remain invested in the UAW Strategy Fund as this fund will continue to be an option in the Plan.

If you have questions regarding how these changes may affect your International UAW Staff Severance Plan or your investment option selection within the Plan, do not hesitate to contact Mainstay toll-free at 1-866-444-6246.

The International UAW has announced upcoming investment option changes for the International UAW Staff Severance Plan. The new investment options will provide similar investment strategies and risks, but the overall expenses for the investment options will be lower. In conjunction with this change, the target date retirement funds in the plans will change share class, also in an effort to reduce operating expenses.

All changes will be effective as of the market’s close on October 1, 2014. Contact Mainstay toll-free at 1‑866‑444‑6246 to discuss the impact these changes may have on your portfolio.

Many retirement savings plans, including the Int’l UAW, have moved to using institutional funds in place of retail mutual funds. In doing so the plan architects are moving to investment options with lower internal operating expenses. The institutional funds do not have the marketing costs associated with retail mutual funds that are ultimately passed along to the shareholders in the form of fund management expenses. The problem with institutional funds, however, is the lack of publicly available information about the funds that is so readily available for retail mutual funds through the fund family’s website or other data retrieval services. This is one of the drawbacks to institutional funds as investment options in the Int’l UAW plan. Because of the lack of publicly available information, the institutional funds within the plan are not detailed in our Fund Tables.