SAFETY MANAGEMENT GROUP 401(K) PLAN ERISA Section 404(c) Information

Fee Disclosure

05/09/2015 Contract/Plan Id Number 6-11484

This document uses these defined words and phrases:


Plan Fiduciary means the individual(s) holding authority over the operation and administration of the Plan and its retirement funds. The Plan Sponsor is the Plan Fiduciary. Contact the Plan Administrator for further details.


“You” means the Plan participant or beneficiary.

Plan Administrator is a Plan Fiduciary that has authority over operation and administration of the Plan. You should contact the Plan Administrator if you have any questions about the investment options under the Plan or if you would like paper copies of additional investment information that is available online at The Plan Administrator is:


Information about ERISA Section 404(c)

The Employee Retirement Income Security Act (ERISA) provides rules about the investment of retirement funds. The Plan Sponsor chose to qualify the Plan as an ERISA 404(c) plan and intends to comply with ERISA Section 404(c) requirements by providing information for you to make informed investment decisions and by letting you:

•Direct the investment of individual retirement accounts
•Choose from at least three diverse investment options
•Change investment choices at least quarterly

This means the plan fiduciary should not be liable for any investment losses that result from a participant’s investment control.

How Does This Affect You?

The Plan Fiduciary makes certain investment options available under the Plan. You decide which of those options works best for you according to your age and circumstances. This means that you are responsible for directing the investment in the account the Plan holds for your benefit (your account).

Directing or Transferring Investment Options

You can direct or transfer retirement funds between the different investment options at least quarterly. The Plan may allow for more frequent changes and transfers. To transfer retirement funds, you can call our automated phone system at 1-800-547-7754 or log in to your account at

A description of the exercise of voting, tender and similar rights for an investment alternative and any restrictions on these rights is located in the relevant plan document or trustee powers section of the trust agreement. Contact the Plan Administrator to obtain the plan document or trust agreement, if applicable.

Fees and Expenses

SAFETY MANAGEMENT GROUP OF INDIANA, INC is paying a portion of the Plan administrative expenses. The remaining Plan administrative expenses of 0.08 percent apply to each participant’s account balance. One twelfth of this annual amount will be charged on a monthly basis. The dollar amount of the expense can be found by logging into the secure website at and on participant statements. Plan administrative expenses typically include items such as recordkeeping, participant website access, participant statements, Plan compliance services and financial professional services.

From time to time, Plan expenses may be incurred in the course of normal Plan operation for Plan services such as legal, auditing, third-party administration, consulting, investment advice to the Plan, etc. If allowed by the Plan document, the Plan fiduciary may direct that these expenses by paid by the Plan. The Plan Fiduciary determines how these expenses are allocated among participants at the time the expenses are paid. These expenses are typically allocated based on participant account balance but may be allocated by dividing the total expense to be deducted by the total number of participants in the Plan. If such expenses are charged to participant accounts, the dollar amount of such expenses will be disclosed on the secure website and on participant statements (if applicable) for the quarter in which they are paid.

The following participant-level services have additional fees. These participant transaction fees will be charged to your account balance for the services you elect to use. Participant transaction fees for the Plan include:

• Distribution fee: $40.00
• Distribution in-kind fee: $40.00
• Distribution installment fee for new installment elections: $10.00 per quarter
• Loan Maintenance fee for new loans: $12.00 per quarter
• Loan Setup fee: $50.00
• Qualified Domestic Relations Order processing fee: $350.00 for each Domestic Relations Order processed. The fee is divided equally between the participant and the alternate payee involved unless specified differently within the Domestic Relations Order or the Plan’s Administrative Procedures.

Please see the investment Option Summary for fees and expenses that may be charged against your account based on investment-level transactions.

The Plan Administrator can provide the following additional information, upon request:

•Copies of prospectuses (or any short-form or summary prospectuses) for the investment options.
•Copies of any financial statements or reports, such as a statement of additional information and shareholder reports, and of any other similar materials relating to the Plan’s designated investment options.
•A statement of the value of a share or unit of each designated investment option and the date of the valuation.
•A list of the assets comprising the portfolio of each investment option which constitutes Plan assets and the value of each asset (or the proportion of the investment which it comprises).
•The following information about each investment option (including fixed-return investment options) available under the Plan: issuer name, investment objective, principal strategies and risks, turnover rate, performance, and fee and expense information.
•To the extent a group annuity contract under the Plan permits you to select an annuity guaranteed by an insurance company, a statement that the guarantee provided by the insurance company is subject to its long-term financial strength and claims-paying ability.

To help you make informed investment choices and for more information about the investment options available to you, including investment objectives, performance and fees, please review the enclosed materials or visit

click here for a pdf of this disclosure

Bobby Pirtle
Accounting Team
Safety Management Group

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