For IPF:
dstupar@ipfweb.org
Phone: 1-888-880-8222
Fax: 202-347-7339

For IHF:
rdonovick@bacweb.org
Phone: 1-888-880-8222
Fax: 202-383-3905

620 F Street, NW
Washington, DC 20004
202.783.3788

About Us

 

Summer 2004

Simplify your Retirement Plan Investing

Introducing the SMA Age-Based Investment Selection Option:
We are pleased to add the SMA Age-Based Investment Selection Option tothe BACSAVE International 401(k) Retirement Savings Plan. It doesn’t matter what stage of your working life you are now in, this age-based option can help you manage your account all the way through to retirement. This option offers BACSAVE 401(k) participating Local Union members a new and simple approach to managing your retirement plan investments.

BACSAVE Makes Investing Simple with New Age-Based Option

Here’s how it works:
This age-based option will invest your existing balances and direct your upcoming contributions to a SMA Life-style fund appropriate for participants your age. As you get closer to retirement, your account will automatically transfer to more conservative SMA Life-style funds. Your age and birthdate will trigger the movement from one fund to another as you reach the target age breaks:

If Your Age is:

You Will Be Invested in the:

Which Invests In:

Under 40

SMA Growth Blend Fund

60% Stock, 18.5% Stable Value Bonds, 21.5% Stable Value & Cash

Aged 40 to 49

SMA Moderate Blend Fund

40% Stock, 28.5% Stable Value Bonds, 31.5% Stable Value & Cash

Aged 50 to 59

SMA Conservative Blend Fund

25% Stock, 24% Stable Value Bonds, 51% Stable Value & Cash
Aged 60 +
SMA Capital Preservation Blend Fund
10% Stock, 29% Stable Value Bonds, 61% Stable Value & Cash

Simplify your Retirement Plan Investing:
If you think the SMA Age-Based Investment Selection agrees with your investment objectives and you wish to invest your account using this option, it is easy to put this investment decision in place. You make one quick phone call or make the change on the internet with a few clicks of your mouse. When you make this change, both your current balances and future contributions will be automatically transferred to the SMA Life-style fund that corresponds to your age as described above and will become more conservative as you get older.

If this sounds good to you, you need to apply the SMA Age-Based Investment Selection Option to your account after October 1, 2004. To do this, simply:

Call PTS 1-800-538-2476; press 2, 5, or
Visit , request changes, age based investment selection
If your birthdate is not on file with the Fund Office, you will be unable to use the SMA Age-Based Investment Selection Option until you update your birth date.

By choosing the SMA Age-Based Investment Selection Option, you can simplify your retirement investing. When you apply this option to your account, you get:

your investment mix adjusted automatically as you age,
time-tested allocation strategies - rebalanced weekly,
a very diversified fund.

If later you change your mind or you want to stay in the SMA Life-style fund you are in and no longer want to be automatically transferred to a more conservative SMA Life-style fund, you can turn off the SMA Age-Based Investment Selection with a telephone call or visit to Comerica’s website.

Default Fund Change
The Board of Trustees has recently adopted a change to the Plan’s “default” fund. If a member never actively selected an investment(s) then the member’s account had been invested in the SMA Bond Index Fund by “default”. The “default” fund will change to the SMA Age-Based Investment Selection Option on October 1, 2004 . While this may not impact all members, we did want to keep you informed of all Plan changes.

Save For Your Future
There are many benefits to the 401(k) plan – tax deferred earnings, lower taxable income, low -cost yet numerous investment options – just to name a few. Of course, these are only benefits if you elect to use them. If you aren’t enrolled because you don’t have the time or interest to monitor your account on at least an annual basis or you weren’t sure how to invest your account – the SMA Age-Based Investment Selection Option might be your answer! Take the time now to review the Plan options. Perhaps the new SMA Age-Based Investment Selection is all you need to manage your retirement account. It’s your plan – take control. For information concerning your Union’s participation in the BACSAVE 401(k), contact the Fund office or your Local Union.