Page 422 - DCAC February 2024 Files

3. Recordkeeper / Third Party Administrator (TPA). A recordkeeper will track individual participant
balances and process participant contributions, disbursements and transfers. The recordkeeper will
reconcile participant balances with trust account balances to maintain alignment. The
recordkeeper/TPA will also perform testing and produce management reports that ensure the Plans’
compliance with applicable laws and regulations. These services may be bundled with those of the
custodian bank.

4. Custodian Bank. A custodian bank will physically (or through agreement with a sub-custodian) maintain
possession of securities owned by the Plans, collect dividends and interest payments, redeem maturing
securities, and effect receipt and delivery following purchases and sales. The custodian may also perform
regular accounting of all assets owned, purchased or sold, as well as movement of assets into and out of
the Plans' accounts. These services may be bundled with those of the recordkeeper/third-party
administrator.

5. Additional specialists. The Committee, on behalf of the sponsor, may contract with additional specialists Deleted:
such as attorneys and auditors to assist the Committee in meeting its responsibilities and obligations to Deleted: A
administer the Plan assets prudently.
Deleted: ,

Deleted: , actuaries and others may be employed by the
Such experts may also be deemed to be fiduciaries; they must acknowledge such in writing either by contract Committee…
or prospectus. All expenses for such experts must be reasonable, and may be borne by the Plans as deemed
Deleted: customary and
appropriate and necessary.

B. Responsibility of Participants

The Plans grant to each participant the right and responsibility to choose how his/her account is to be allocated
among the investment options. Each participant is responsible to seek education and training to be prepared
to select a combination of investment options based on the participant’s unique time horizon, risk tolerance,
return expectation and asset class preferences.

C. Conflicts of Interest

All Committee members and the Investment Management Consultant will refrain from personal business
activity that could create an appearance of impropriety, that could conflict with the proper execution and
management of the retirement plan program, or that could impair their ability to make impartial Plan decisions.

III. Investment Policies and Guidelines

A. Asset Classes and Investment Style Groups

Asset classes are chosen because of their long-term return histories that are reasonably useful in evaluating
probable future standard deviation and correlation. They are selected to balance the risk and rewards of market
behavior. Within each of the broad asset classes, options will be diversified to allow participants to choose from
a range of equity capitalization and fixed income maturities. To facilitate diversification within asset classes,
various style groups will be made available.

The Committee may add, delete, or replace a particular asset class or style of investment management if the
Committee deems it appropriate to do so.
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