The Sequoia Fund was terminated and removed from the Value Stock Option on 4/6/16. The fund was terminated due to consistent under performance to the fund benchmark. The funds were moved into the Value Stock Option’s index fund – BlackRock Value Index until the board finds a suitable replacement fund. The new Value Stock Option target allocation is as follows:
| Manager | Previous Target Allocation | New Target Allocation effective 4/6/16 |
| Sequoia | 10% | 0% |
| T. Rowe Price Value | 20% | 20% |
| JP Morgan Equity Income | 15% | 15% |
| Goldman Sachs Mid Cap Value Instl. | 15% | 15% |
| BlackRock Value Index | 40% | 50% |