Performance, Plan Expenses, Allocations of Underlying Funds and Investment Overviews have been added to the website.  The Investment Overviews are found under the DAP ENHANCEMENTS tab.  Daily NAVS for all the funds are found under the TRACKING YOUR INVESTMENTS tab.  The Performance as of 12/31/16, Expense Factors, Underlying Fund Allocation and Risk Levels are included for all of the funds under the RESOURCES & KNOWLEDGE tab.  A detailed Plan Expense Overview is found in the ABOUT tab.  Look forward to your quarterly statement and the Heads Up newsletter the third week of January.  The Heads Up newsletter will include 12/31/16 performance and an article on plan expenses.

The new and improved investment menu will go live Monday, October 24th!  Please review the DAP Brochure by CLICKING HERE or read more under the “resources and planning” tab on this web site.

We are please to announce that the new and improved DAP Investment Menu will be available to our participants on Monday, October 24th.  Please CLICK HERE for all communication related to the DAP enhancements including a comprehensive brochure.  If you have any questions, please do not hesitate to call the DAP office at 314-739-7373.

Your DAP 401(k) Plan’s new view! Your July 2016 Heads Up Newsletter provides a top-level overview of your new investment menu that will be followed by a comprehensive brochure mailed to you in August.  The DAP Enhancements tab on the home page of this web site includes all of the communication pertaining to the revitalization of your DAP 401(k).  Please   CLICK HERE to read your July Heads Up.

We’re introducing important enhancements to your DAP 401(k) Plan this fall! The updates we’re making are the result of a comprehensive review by our investment consultant and the DAP Board of Directors. We will, of course, continue to offer participants our very popular DAP Stable Value Option and the four Model Portfolios. The enhancements will provide a simplified fund selection, broad solutions for all types of investors, and maximize cost effectiveness for affordability.

All of the communication mailed to our participants will be posted on the “DAP Enhancements” web page located in the upper right hand corner of the www.dapretirement.com homepage.

This week, all of the Directed Account Plan participants received an announcement that the DAP Enhancements will come into view on October 3, 2016.  A postcard was mailed to the former TWA Pilots and their beneficiaries.  Please Click Here to view the postcard.

The same announcement was emailed to all of the CommunityAmerica employees.  This general announcement starts our formal communication of the new investment menu.

Stay tuned for more detailed information in a special Heads Up newsletter dedicated solely to your new investment menu. Look for this Heads Up newsletter to arrive separate from your quarterly statement in late July.

Stay informed by visiting the “DAP Enhancements” page on www.dapretirement.com.

In light of recent market volatility, remember that your retirement plan is intended for long-term investment. Attempts to time the market are rarely successful. One way to manage risk over time is to ensure you have a diversified portfolio that is rebalanced through up-and-down markets. Keep your individual needs, goals and time horizon in mind and consult with your financial adviser if needed. It is important to note diversification and rebalancing do not ensure a profit and do not protect against loss in declining markets.

There is a new tab on the homepage of your www.dapretirement.com web site. All of the communication for the important enhancements coming to your DAP 401(k) Plan this fall will be available here! The updates we’re making are the result of a comprehensive review by our investment consultant and the DAP Board of Directors. We will, of course, continue to offer participants our very popular DAP Stable Value Option and the four Model Portfolios. The enhancements will provide a simplified fund selection, broad solutions for all types of investors, and maximize cost effectiveness for affordability.

Your first quarter Heads Up newsletter was posted to this page already. It introduced you to the enhancements with a letter from the Chairman of the Board. You will receive the second quarter Heads Up newsletter the week of July 20th. This newsletter will outline what is happening, when, and describe the new fund lineup. You will receive a detailed brochure in August that will review the information covered in your Heads Up newsletters. It will also provide information describing how your investments and contributions will be mapped to the new funds (does not apply to the Stable Value Option, the Model Portfolios or the Brokerage Option). You will learn how to take action if you want to change your investments prior to the fund changes. This brochure will also highlight key dates for certain transactions prior to the quiet periods. We will also mail you a reminder in September. Again, all of these mailings will be posted under this new tab named “DAP Enhancements”.

I look forward to sharing more detailed information with you this summer about these exciting updates!

Michelle Silberberg
The Directed Account Plan
Executive Director

The Marsico Focus Fund was terminated and removed from the Growth Stock Option on 4/29/16. The fund was terminated due to consistent under performance to the fund benchmark.  The funds were moved into the Growth Stock Option’s index fund – BlackRock Growth Index until the board finds a suitable replacement fund.  The new Growth Stock Option target allocation is as follows:

Dear DAP Participants,

I am delighted to announce a major series of exciting enhancements to your DAP 401(k).

Through our recently announced partnership with Mercer Investments, a global leader in retirement plan consulting, we will build on the strengths of the DAP to enhance the investment structure and choices available to participants.

We will, of course, continue to offer participants our very popular DAP Stable Value Option and the four Model Portfolios.  The asset allocations of the model portfolios will be enhanced to provide better expected risk-adjusted returns in today’s environment.

We will also add a series of Target Date Funds which will allow participants to select an asset allocation fund tied to their expected (or actual) retirement date.  Their asset allocation will automatically adjust over time to a lower risk profile as participants move to – and through – retirement.

A new investment tier with an array of passive investment choices will be added to the structure as well.   The focus on our active management strategies will be on even lower expenses than currently offered, as well as consistency of performance based on risk-adjusted returns, as determined by Mercer’s proprietary selection process.

In addition, we will offer active and passive high quality bond funds as well as a Treasury Inflation Protected Securities (TIPS) fund.  We will also offer a real-asset fund which could provide attractive long-term inflation protection and additional diversification benefits.

We are targeting an implementation date around October 1^st.  We will be sending a wide array of educational pieces to you over the next several months.  Our goal is to build on the strengths of your DAP by providing you with an expanded suite of investments to enhance your retirement readiness and retirement security.

Sincerely,

Vincent Lombardi

Chairman, Board of Directors, Directed Account Plan

The April 2016 Heads Up newsletter has been posted. Please  CLICK HERE to read about the enhancements to your  investment structure coming to you in October. You will be receiving more detailed information this summer. This newsletter includes the following letter form the DAP Board introducing the improved investment menu along with recent performance.

Dear DAP Participants,

I am delighted to announce a major series of exciting enhancements to your DAP 401(k).

Through our recently announced partnership with Mercer Investments, a global leader in retirement plan consulting, we will build on the strengths of the DAP to enhance the investment structure and choices available to participants.

We will, of course, continue to offer participants our very popular DAP Stable Value Option and the four Model Portfolios.  The asset allocations of the model portfolios will be enhanced to provide better expected risk-adjusted returns in today’s environment.

We will also add a series of Target Date Funds which will allow participants to select an asset allocation fund tied to their expected (or actual) retirement date.  Their asset allocation will automatically adjust over time to a lower risk profile as participants move to – and through – retirement.

A new investment tier with an array of passive investment choices will be added to the structure as well.   The focus on our active management strategies will be on even lower expenses than currently offered, as well as consistency of performance based on risk-adjusted returns, as determined by Mercer’s proprietary selection process.

In addition, we will offer active and passive high quality bond funds as well as a Treasury Inflation Protected Securities (TIPS) fund.  We will also offer a real-asset fund which could provide attractive long-term inflation protection and additional diversification benefits.

We are targeting an implementation date around October 1^st.  We will be sending a wide array of educational pieces to you over the next several months.  Our goal is to build on the strengths of your DAP by providing you with an expanded suite of investments to enhance your retirement readiness and retirement security.

Sincerely,

Vincent Lombardi

Chairman, Board of Directors, Directed Account Plan