The Royce Global Value Fund was terminated and removed from the International Stock Option on 9/12/13 due to the performance of this fund detracting from overall performance in this option. The new target allocation is 40% BlackRock ACWI Ex-US IMI Index, 12% Templeton Instl. Foreign Equity, 12% Thornburg Intl. Value, 12% Marsico Intl. Opportunities, 10% American Century Intl. Growth, 8% Dimensional Emerging Markets Value,  and 8% TCW International Small Cap. The assets from this fund were moved to the BlackRock ACWI Ex-US IMI Index until the Board finds a replacement fund.

A new lower expense share class recently came available for the American Century International Growth Fund.  On 9/10/13, the Directed Account Plan made the switch to this new share class and the name and ticker changed to American Century International Growth Fund R6 (ATGDX).

Effective in September 2013, Lockwell Small Cap Value Separate Account, found in the Diversified Small Company Stock Option, has a new name – Deutsche Small Cap Value Separate Account. The staff, investment objectives and principals of managing this fund will not change. The only change is the name of the fund because the lead manager, Richard Glass, has switched companies. Glass joined Deutsche Asset & Wealth Management (DeAWM) this month as the U.S. Head of Small and Mid Cap Value Equities. He will become the lead portfolio manager for the Deutsche Small Cap Value Fund, Deutsche Mid Cap Value Fund, and Deutsche Small Mid Cap Value VIP along with the Directed Account Plan’s Deutsche Small Cap Value Separate Account.