Page 143 - DCAC May 2023 Files

GOAL OUTCOME

Streamline Investment Menu Participants experienced an approximate savings of
$100,000 in investment management expenses.
Index Fund Review 49% savings for participants utilizing the index funds.
Target Date Fund Deep Dive Participants will continue receiving a very low 0.08%
operating cost.
ESG Presentation and Analysis Incorporate ESG/SRI topics into education for
participants.

Implementation and Results
The culmination of this effort resulted in a decrease to the number of investment options offered to
participants from 26 to 19, representing a 27% decrease in the number of funds offered. This also
resulted in an overall cost reduction for plan participants of 7.5%, decreasing the weighted
investment management expense by 0.02% for the entire core line-up. Fund menu changes
were implemented in late December 2022.

A letter to participants
detailing the fund
changes was delivered
electronically and via
regular mail in
November.

Group and individual
meetings for
participants were
conducted throughout
December, addressing
the extensive fund
menu changes.
Empower
representatives met
with participants onsite
or online.