QUARTERLY REPORT QUARTERLY REPORT FIRST QUARTER 2015

1

Table of Contents

Topic

Section

Pages

Plan Overview Plan Overview

1

3‐16 3 16

Administrative Overview

2

17‐27

Local Office Activity

3

28‐35

Appendix

4

36‐41

2

Plan Overview 3

Assets $4,725,877,857

$4 622 493 622 $4,622,493,622

$4,492,076,192

2Q14

Net Asset Change Beginning Balance Deposits Net Transfers Fees Distributions Change in Value Interest/Dividends Ending Balance Outstanding Loans g Loans Outstanding g Total Assets Including Total Assets in Ending Balance As Roth Balances Net Asset Change

$4,477,873,196

3Q14

2Q 2014 $4,339,966,073 $86,095,654 ($46,283) ($701,032) ($ , ) ($69,071,979) $135,832,759 $1,000 $4,492,076,192 $177,125,939 $4,669,202,131 $ , , , $18,732,891

4Q14

3Q 2014 $4,492,076,192 $82,369,965 $12,283 ($811,258) ($ , ) ($65,752,330) ($30,021,655) $0 $4,477,873,196 $181,255,986 $4,659,129,182 $ , , , $20,721,955

1Q15

4Q 2014 $4,477,873,196 $77,665,191 ($212,800) ($600,681) ($ , ) ($60,400,297) $120,929,360 $7,239,653 $4,622,493,622 $182,022,498 $4,804,516,120 $ , , , $24,013,572

1Q 2015 $4,622,493,622 $98,224,092 $205,800 ($714,047) ($ , ) ($72,485,646) $77,983,837 $170,199 $4,725,877,857 $183,237,169 $4,909,115,026 $ , , , $27,434,994

4

Quarter End Assets $1,800,000,000.00

$1,600,000,000.00

$1,400,000,000.00

$1,200,000,000.00

$1,000,000,000.00

$800,000,000.00

$400,000,000.00

$600,000,000.00

$200,000,000.00

$0.00

Schwab Selff -Directed

FDIC - Insurred Savings Account

Def erred Co ompensation Stable Value

DCP Bond Fund F

DCP Large Cap C Fund

DCP Mid Ca ap Fund

DCP Small Cap C Fund

SSGA Russ sell Small Cap Index NL L Series S

DWS EAFE Equity Index Instittutional

Fidelity Dive ersif ied International

Ultra Conserrvative Prof ile Portf olio o

Conservative Prof ile Portf olio

Moderate Prrof ile Portf olio

Aggressive Prof P ile Portf olio

Ultra Aggres ssive Prof ile Portf olio

Total Assets =$ 4,725,877,857 D t il Details on page 37 37

5

Historical Assets $5,000,000,000.00

$4,725,877,857 $4,500,000,000.00

$4,000,000,000.00

$3,500,000,000.00

$3,000,000,000.00

$2,500,000,000.00

$1,453,122,265 $2,000,000,000.00

$1,500,000,000.00

$1,000,000,000.00

$500,000,000.00

$0.00

6

Quarter End Participants 11,932

12,147

12,344

12,050

28,677

28,610

28,562

29,003

2Q14

3Q14

4Q14

1Q15

Contributing Participants

Contributing Participants Non-Contributing Participants Total Participants New Participants Added Average Roth Deferral Average Pre-Tax Deferral Average Bi-Weekly Deferral for the quarter Median Account Balance Participants with a Roth account

Non-Contributing Participants 2Q14 28,677 11,932 40,609

3Q14 28,610 12,147 40,757

4Q14 28,562 12,344 40,906

1Q15 29,003 12,050 41,053

321

361

352

390

$167 $269 $273 $49,858 2,885

$164 $267 $271 $49,134 3,139

$154 $255 $259 $50,424 3,400

$173 $287 $292 $50,964 3,695

7

Historical Participants 44,000

41,053

42,000 40,000 38,000 36,000 34,000

28,692

32,000 30,000 , 28,000 26,000 24,000 22,000 20,000 18 000 18,000 16,000 14,000 12,000 10,000 8,000 6,000 4,000 2,000 0

8

($232,214,824)

Schwab Self-Directed

Deferred C Compensation Stable Value

FDIC C - Insured Savings Account

DCP Bond Fund

DCP Large Cap Fund

DCP Mid Cap Fund

DCP Small Cap Fund

$556,353

($3,297,652)

($252,700 0)

($1,526,131)

($347,602)

DWS EAFE Equity Index

SSGA Russell Small Cap Index NL Series S

($931,226 6)

$226,708,555

$8,334,499

$14,565,571

$687,879

Ultra Co onservative Profile Portfolio

Fide elity Diversified International

$445,596

$6,208,297

$3,590,233

$3,417,397

Co onservative Profile Portfolio

Moderate Profile Portfolio

Aggressive Profile Portfolio

Ultra Aggressive Profile Portfolio

Net Cash Flow

Net Cash Flow Detail can be found on page 39 9

Net Transfer Activity Net Transf er Out

Net Transf er In $6,201,371

Schwab Self -Directed Def erred Compensation Stable Value

($2,271,020)

FDIC - Insured Savings Account

($2,205,174)

DCP Bond

($308,685)

DCP Large Cap Fund

($4,678,594)

DCP Mid Cap Fund $12,191,370 DCP Small Cap Fund SSGA Russell Small Cap Index NL Series S

$226,887,385 ($234,351,463)

DWS EAFE Equity Index

($921,953)

Fidelity Diversif ied International

($2,157,213)

Ultra Conservative Prof ile Portf olio Conservative Prof ile Portf olio

$101,426 ($33,190)

Moderate Prof ile Portf olio Aggressive Prof ile Portf olio Ultra Aggressive Prof ile Portf olio

$2,950,761 ($1,533,913) $334,693

Transfer Activity Detail can be found on page 38 10

Participant Transfer Activity Transfers Out

Schwab Self -Directed

($6,210,613)

Def erred Compensation Stable Value

($47,746,403)

FDIC - Insured Savings Account

($28,071,210)

DCP Bond

($6,701,765)

DCP Large Cap Fund

($29,248,758)

DCP Mid Cap Fund

($8,519,446)

DCP Small Cap Fund SSGA Russell Small Cap Index NL Series S

Transfers In

$12,411,984 $45,475,383 $25,866,035 $6,393,080 $24,570,164 $20,710,816

($2,035,429) ($250,122,677)

$228,922,814 $15,771,214

DWS EAFE Equity Index

($2,843,961)

$1,922,008

Fidelity Diversif ied International

($6,558,230)

$4,401,016

Ultra Conservative Prof ile Portf olio

($8,126,446)

$8,227,872

Conservative Prof ile Portf olio

($10,865,105)

$10,831,915

Moderate Prof ile Portf olio

($10,012,402)

$12,963,163

Aggressive Prof ile Portf olio Ultra Aggressive Prof ile Portf olio

($14,556,189) ($20,691,775)

$13,022,275 $21,026,468

Transfer Activity Detail can be found on page 38 11

Asset Allocation by Asset Class $1,800,000,000

$1,600,000,000

$1,400,000,000

$1 200 000 000 $1,200,000,000

$1,000,000,000

$800,000,000

$600,000,000

$400,000,000

$200 000 000 $200,000,000

$0

Profile Portf olios

International

Small Cap Blend

Mid Cap Blend

Large-Cap

Bond

Stable Value Fund

Fixed Bank Fund

Self-Directed

Total Assets

$794,121,296

$217,493,752

$225,038,039

$230,689,252

$1,578,600,218

$165,385,247

$903,858,339

$290,958,424

$319,733,292

Participants

28,196

11,992

9,616

7,084

21,055

8,071

12,979

9,088

5,025

12

Asset Allocation by Asset Class as Percentage of Total

Self-Directed, 7% Fixed Bank, 6%

Profile Portfolios, 17%

International, 5% Stable Value, 19%

Small Cap Blend, 5% Bond, 4%

Mid Cap Blend, 5%

Large-Cap, 33%

at 06/30/14 at 09/30/14 at 12/31/14 at 03/31/15

Profile Portfolios 16.1% 16.2% 16.4% 16.8%

International 5.1% 4.8% 4.5% 4.6%

Small Cap Blend 5.1% 4.6% 4.8% 4.8%

Mid Cap Blend 4.1% 4.2% 4.5% 4.9%

Large-Cap g p 33.1% 33.3% 33.8% 33.3%

Bond 3.5% 3.6% 3.5% 3.5%

Stable Value 19.9% 20.1% 19.5% 19.1%

Fixed Bank Self-Directed 6.5% 6.6% 6.5% 6.7% 6.4% 6.6% 6.2% 6.8%

13

Contribution Allocation by Asset Class $20,000,000

$18,000,000

$16,000,000

$14,000,000

$12,000,000

$10,000,000

$8,000,000

$6,000,000

$4,000,000

$2,000,000

$0

Total Contribution Dollars Total Participant Count Roth Contribution Dollars* Roth Participant Count

Prof ile Portf olios

International

Small Cap Blend

Mid Cap Blend

Large Cap

Bond

Stable Value

Fixed Bank Fund

Self -Directed

$18,923,180

$3,712,203

$3,737,095

$4,175,858

$18,321,187

$2,417,654

$7,660,774

$3,972,278

$2,093,551

28,196 $1,190,483 3,758

11,992 $186,055 1,108

9,616 $201,463 900

7,084 $269,991 992

21,055 $679,580 1,557

8,071 $109,937 565

12,979 $218,068 765

9,088 $125,322 423

5,025 $128,263 281

*Roth Contribution Dollars are represented in dark green in the bar  chart above. 14

Contribution Allocation by Asset Class by Pct of Total

Self -Directed, 3% Fi d B Fixed Bank, k 6% Prof ile Portf olios, 30% Stable Value, 12% Bond, 4%

International, 6%

Small Cap p Blend, 6%

g p 28% Large-Cap,

Mid Cap Blend, 7%

at 06/30/14 at 09/30/14 at 12/31/14 at 03/31/15

Profile P f li Portfolios 27.7% 28.7% 29.8% 29.5%

IInternational i l 6.3% 6.2% 6.0% 5.7%

Small Cap Bl d Blend 6.5% 6.2% 5.9% 5.8%

Mid Cap Bl d Blend 5.6% 5.8% 5.8% 6.5%

Large-Cap L C 27.3% 27.7% 27.9% 27.9%

Bondd B 3.8% 3.7% 3.7% 3.7%

SStable bl Value Vl 12.9% 12.0% 11.5% 11.6%

Fixedd Bank Fi B k Self-Directed S lf Di d 6.6% 3.3% 6.5% 3.2% 6.2% 3.2% 6.0% 3.3%

15

Average Account Balance $115,116

$113 002 $113,002

$110,617 $109,867

2Q14

3Q14

4Q14

1Q15

CA TEGORY

# Of Ppts

Percent

BALANCE

Percent

Less Than $25,000 $25 000 $25,001-$50,000 $50,001-$75,000 $75,001-$100,000 $100,001-$125,000 $125,001-$150,000 $150,001-175,000 $175,001-$200,000 $ , $ , $200,001-$300,000 $300,001-$400,000 $400,001-$500,000 $500,001-$600,000 $600,001-$700,000 $700,001-$800,000 $800,001-$900,000 $900,001-$1,000,000 over $1,000,001

14,017 14 017 6,345 3,721 2,738 2,078 1,631 1,357 1,166 , 3,442 2,101 1,153 546 303 165 113 69 108

34.1% 34 1% 15.5% 9.1% 6.7% 5.1% 4.0% 3.3% 2.8% 8.4% 5.1% 2.8% 1.3% 0.7% 0.4% 0.3% 0.2% 0.3%

139,491,694 139 491 694 230,863,899 230,127,947 237,540,929 232,583,929 224,146,082 220,157,099 218,418,014 , , 846,312,488 725,009,111 513,312,600 296,998,348 196,170,823 123,169,608 95,677,513 65,323,838 130,573,934

3.0% 3 0% 4.9% 4.9% 5.0% 4.9% 4.7% 4.7% 4.6% 17.9% 15.3% 10.9% 6.3% 4.2% 2.6% 2.0% 1.4% 2.8%

Total

41,053

100%

$4,725,877,857

100%

16

Administrative Overview 17

Distributions by Dollar and Participant $50,000,000 

Dollar Amounts

$45,000,000 

Periodic Installments

$40,000,000  $35,000,000 

Partial Withdrawals

$30,000,000 $30,000,000 

Full Withdrawals

$25,000,000  $20,000,000  $15,000,000  $10,000,000  $5,000,000  $0  SEP SERVICE/  RETIREMENT

HARDSHIP

PLAN TO PLAN  TRANSFER

SERVICE  CREDITS

MINIMUM  DISTRIBUTIONS

DEATH

OTHER

2,500

Participant Counts Periodic Installments Partial Withdrawals

2,000 1,500

F ull Withdrawals

1,000 500 0 SEP SERVICE/  RETIREMENT

HARDSHIP

PLAN TO PLAN  TRANSFER

SERVICE  CREDITS

MINIMUM  DISTRIBUTIONS

DEATH

OTHER

Full details regarding distributions (including loan information) are found on the next page. LACERS Transfers

Total number of transfers: Total amount of transfers: Participants over Age 60

Distributions for this age bracket: Distributions for this age bracket: Number that are loans Number that are Service Credits

18 $607,241.41 8,816 1 857 1,857 103 8

18

Distribution Detail FULL DISTRIBUTIONS TOTALS CEDO/QDRO / DEATH DEMINIMUS HARDSHIP PLAN TO PLAN TRANSFER RETIREMENT SEP SERVICE SEP SERVICE

PARTIAL DISTRIBUTIONS TOTALS CEDO/QDRO DEMINIMUS DEATH HARDSHIP LOAN MINIMUM DISTRIBUTIONS PLAN TO PLAN TRANSFER RETIREMENT SEP SERVICE EXTERNAL TRANSFERS EXTERNAL TRANSFERS SERVICE CREDITS

PERIODIC INSTALLMENTS TOTALS CEDO/QDRO DEATH MINIMUM DISTRIBUTIONS RETIREMENT 70 1/2 INSER

Distribution Amounts

$16,094,015.85 334,762.75 , 1,096,358.71 0.00 0.00 0.00 214,055.68 14,448,838.71

$49,407,086.92 339,598.73 0.00 477,215.07 369 368 56 369,368.56 18,849,108.65 305,555.20 0.00 1,609,654.14 25,806,004.81 190 758 73 190,758.73 1,459,823.03

$6,984,542.83 16,287.75 308,660.68 1,397,649.66 5,246,944.74 15,000.00

Percent

100.0% 2.1% 6.8% 0.0% 0.0% 0.0% 1.3% 89.8%

100.0% 0.7% 0.0% 1.0% 0 7% 0.7% 38.2% 0.6% 0.0% 3.3% 52.2% 0 4% 0.4% 3.0%

100.0% 0.2% 4.4% 20.0% 75.1% 0.2%

Participant Count

239 10 19 0 0 0 26 184

2,337 15 0 20 59 1,360 41 0 50 614 2 176

1,608 6 67 393 1,141 1

Percent

100.0% 4.2% 7.9% 0.0% 0.0% 0.0% 10.9% 77.0%

100.0% 0.6% 0.0% 0.9% 2 5% 2.5% 58.2% 1.8% 0.0% 2.1% 26.3% 0 1% 0.1% 7.5%

100.0% 0.4% 4.2% 24.4% 71.0% 0.1%

Average Withdrawal

$67,338.98                  33,476.28 ,                   57,703.09 n/a n/a n/a                     8,232.91                  78,526.30

$21,141.24                   22,639.92 n/a                   23,860.75                    6,260.48 6 260 48                   13,859.64                     7,452.57 n/a                   32,193.08                   42,029.32                  95,379.37 95 379 37                     8,294.45

$4,343.62                     2,714.63                     4,606.88                     3,556.36                     4,598.55                   15,000.00

19

Rollovers Out & Into the Plan Rollovers Out

(18 837 446) (18,837,446)

Rollovers In

30 072 879 30,072,879

Calendar Year 2015

(72,190,821)

51,856,500

Calendar Year 2014

(75,910,421)

72,630,088

Calendar Year 2013

(100,000,000)

(60,000,000)

(20,000,000)

20,000,000

60,000,000

100,000,000

20

Rollovers to IRA Summary by Top Ten Providers by Dollars

$3,000,000.00 

$20,000,000.00

$2,500,000.00 

$18,000,000.00

$2,000,000.00 

$16,000,000.00

$1,500,000.00 

$1,000,000.00 

$500,000.00 

$14,000,000.00 $12,000,000.00 $10,000,000.00

$‐

$8,000,000.00 $6,000,000.00 $4,000,000.00 $2,000,000.00 $0.00 TOP TEN

ALL PROVIDERS

The top 10 providers represent 68% of total assets withdrawn and rolled to an IRA in 1Q  2015.

21

Loan Overview 16,000 14,000

12,953

12,964

13,429

12,000 10,000 8,000

6,454

6,408

6,954

6,000 4,000 , 2,000

958

940

1,011

0 JAN

FEB

MAR

APR

MAY

One Outstanding Loan

JUN

JUL

AUG

Two Outstanding Loans

SEP

OCT

NOV

DEC

Defaulted Loans

 Loan Balance Details for Active Loans

Total Balance of Outstanding Loans as of March 31, 2015: $183,237,169.12 Average Balance of Outstanding Loans as of March 31, 2015: $8,747.66 Total Balance of Defaulted Loans as of March 31, 2015: $6,415,053.77  Loan Balance Details for Retiree Loans

Total number of retiree loans: New number of retiree loans added during the quarter: Total number of converted loans: New number of converted loans added during the quarter:

530 54 315 39

 Loan Default Details for Quarter

Total number of loans defaulted during the quarter: Total dollar amount of defaulted loans during the quarter:

87 $674,219.34

Historical data found on page 40.

22

Loan Highlight by Year 2013

Loan Initiations

2014

2015

700 600

100

555 497

541

504 463

620

546 544

579 581

652 514

560 595

593 561

FEB

547

JAN

476 4 506

200

443 444 420

300

524 427 393

400

612 550

500

DEC

18,85 0 19,310

19,016 19,384

18,679 19,464

19,185 5 20,374

19,160 20,410

19,328 8 20,479 9

0

NOV

0

OCT

0

SEP

0

AUG

0

JUL

0

JUN

0

MAY

0

APR

0

MAR

18,648 8 19,325

0

Average New Loan Initiations 2013: 555 2014: 519 2015 453 Outstanding Loans 25,000 20,000

MAR

18,085 5 19,152 2

FEB

18,063 3 19,051

0

18,008 8 19,547 7 20,383 3

5,000

18,72 23 19,448 8 19,372

10,000

18,18 88 18,971 1 19,407 7

15,000

0 JAN

APR

MAY

JUN

JUL

AUG

SEP

OCT

NOV

DEC

Average Outstanding Loans 2013: 18,661 2014: 19,576 19 576 2015: 19,721 Historical data found on page 40.

23

Hardships Denial Reasons

Hardships Processed During Quarter Pending Documentation, 7

No Qualif ying Event, 3

Denied , 3

Approved, 72

Distribution Reasons

Uninsured Medical Expenses, 5 Funeral Expenses, 0 Loss of Income/ Injury, 1 Loss of Income/ Illness, 9 Prevention of Eviction, 28

Prevention of Foreclosure Foreclosure, 29

24

Keytalk® Statistics 2 000 2,000

1,708

1,600 1,400

1,737

1,800

1 200 1,200

800 600

533

1,000

122 2

95

200

17

400

0

Total Logins Keytalk:      11,266    25

Internet Statistics 40,000 35,000

35,355

30,000 25,000

4,894

1,,983

5 000 5,000

155 5

10,000

12,765

15,000

1,835

10,114

20 000 20,000

0

Total Logins Internet:  242,450 Average Logins Internet Monthly: 80 817 Average Logins Internet Monthly:   80,817 Average Distinct Users Monthly:  11,785 26

Online Statement Delivery

Quarter Ending Online Statements Total Statements 12/31/2011 2,369 3/31/2012 2,348 6/30/2012 2,918 9/30/2012 2 956 2,956 12/31/2012 3,003 3/31/2013 4,014 6/30/2013 4,088 9/30/2013 4,218 12/31/2013 5,434 3/31/2014 6 318 6,318 6/30/2014 7,508 9/30/2014 8,254 12/31/2014 9,580 3/31/2015 10,508

Percentage Utilization 40,348 40,566 40,582 40 494 40,494 40,392 40,550 40,604 40,582 40,635 40 734 40,734 40,609 40,757 40,906 41,061

5.87% 5.79% 7.19% 7 30% 7.30% 7.43% 9.90% 10.07% 10.39% 13.37% 15 51% 15.51% 18.49% 20.25% 23.42% 25.59%

27

Local Office Activity 28

Total Participant Contact 1st Quarter 2015 3,511

3,056

• 1st Quarter • Met with approximately 9,625  participants.

3,069

• Popular topics:  Deferral  Changes Purchase of Service Changes, Purchase of Service  Credits, Accrued Leaves, Catch‐ Up Requests, Loan Requests,  Distribution Requests,  Retirement Calculator DROP Retirement Calculator, DROP  Rollovers, Asset Allocation,  Website Assistance and  Enrollments

March 2012 ‐ March 2015 March 2012 ‐ March 2015 5,000  4,500  4,000  3,500  3 000 3,000  2,500 

Participant contact is the total number of  employees and participants that we have spoke  with in person or over via phone at group  meetings and individual counseling sessions. meetings and individual counseling sessions. 

2,000  1,500  1,000  500  ‐ Mar‐12 Jun‐12

Sep‐12 Dec‐12 Mar‐13 Jun‐13

Sep‐13 Dec‐13 Mar‐14 Jun‐14

Sep‐14 Dec‐14 Mar‐15

29

Group Meetings / Facility Visits 1st Quarter 2015 31

• Topics

24 21

• Increased visits LACERS  Retirement Presentations,   Parking Enforcement, Rec. &  Parks Los Angeles World Parks, Los Angeles World  Airports (LAX) • Continued Table Service at  DWP, Harbor Department,  FPPEN Retirement  Presentations, and NEO’s at  DWP and Police. 

March 2012 ‐ March 2015 40  35  30  25  20  15 

The data presented includes  table service,  group meetings and retirement  presentations.   

10  5  ‐ Mar‐12 Jun‐12

Sep‐12

Dec‐12 Mar‐13 Jun‐13

Sep‐13

Dec‐13 Mar‐14 Jun‐14

Sep‐14 Dec‐14 Mar‐15

30

Type of Meetings Year‐To‐Date

31

16 13

6 4 3

2 1 Benefits Fair

DROP

Enrollment

Mid Career

New Employee Orientation

Plan Update

Retirement

Table Service

31

Group Meetings by Department ‐ YTD Row Labels Meetings Attendees Individual Sessions Enrollments DWP 22 739 341 89 Fire 3 25 21 1 Fire/Police Pension 3 145 24 LA Zoo 1 100 6 2 LACERS 7 265 111 9 LAPPL 2 76 76 8 LAWA 11 109 94 25 Lib Library 1 6 3 3 Personnel 4 53 12 Police 4 116 96 65 Port of LA-Harbor 3 50 50 7 Public Works 2 87 9 11 Rec and Parks 1 11 5 1 p 12 233 133 52 Transportation Grand Total 76 2,015 981 273 32

Attendees at Group Meetings 1st Quarter 2015

830

•DWP • New New Employee Orientations  Employee Orientations at JFB and Sun Valley; and  Retirement Presentations

603

582

•Fire/Police Pensions (FPPEN) • Retirement Meetings and  DROP Meetings •Los Angeles World Airports  (LAX)

March 2012 ‐ 2015

1,400 

• New Employee Orientations

1,200  1,000 

•Transportation

800 

• All Parking Enforcement  locations 

600  400  200 200  ‐ Mar‐12

Jun‐12

Sep‐12

Dec‐12

Mar‐13

Jun‐13

Sep‐13

Dec‐13

Mar‐14

Jun‐14

Sep‐14

Dec‐14

Mar‐15

33

Individual Counseling Sessions Counseling Session Topics

1st Quarter 2015 739

894

• Accrued Leave Request

714

• Asset Allocation • Beneficiary updates  p • Catch‐up Contributions  • Contribution Changes • Distribution Requests • DROP Rollover Assistance DROP R ll A it

March 2012 ‐ 2015

1,000 

• Loans

900 

• Purchase of Service Credits

800  700 

• Retirement Calculator  assistance

600  500  400 

• Website login/PIN assistance

300  200  00 100  ‐ Mar‐12

Jun‐12

Sep‐12

Dec‐12

Mar‐13

Jun‐13

Sep‐13

Dec‐13

Mar‐14

Jun‐14

Sep‐14

Dec‐14

Mar‐15

Individual counseling  sessions were conducted  at City Hall, and other locations, including  Table Service. 34

Local Office Phone Calls City Hall Service Center

1st Quarter 2015 1,787

1,752 1,735

• Averages 1,300 calls per  month • Asset Allocation • Catch‐Up Enrollments • Distribution Requests • Loan Requests

March 2012 ‐ March 2015 3,500  3,000 

• Website Website Assistance with   Assistance with Login/PIN, Contribution  changes Glendale Office

2,500 

• Local office in Glendale  averages 400 calls per month

2,000  1,500  1,000  500  ‐ Mar‐12 Jun‐12

Sep‐12 Dec‐12 Mar‐13 Jun‐13

Sep‐13 Dec‐13 Mar‐14 Jun‐14

Sep‐14 Dec‐14 Mar‐15

35

Appendix 36

Asset Distribution Asset Class/Fund Name Profile Portfolios Ultra Aggressive Profile Portfolio Aggresive Profile Portfolio Moderate Profile Portfolio Conservative Profile Portfolio Ultra Conservative Profile Portfolio Profile Portfolios International DWS EAFE Equity Index Fund Fidelity Diversified International Fund International Small Cap Blend SSGA Russell Small Cap Index NL Series S DCP Small Cap Fund Small Cap Blend Mid Cap Blend DCP Mid Cap Fund Mid Cap Blend Large-Cap DCP Large Cap Fund Large-Cap Bond DCP Bond Fund Bond Stable Value Fund Deferred Compensation Stable Value Fund Stable Value Fund Fixed Bank Fund FDIC Insured Savings Option Fixed Bank Fund Self Directed Self-Directed Schwab Self-Directed Self-Directed Grand Total

at 06/30/14 Amount

PCT

Accounts

at 09/30/14 Amount

PCT

Accounts

Amount

at 12/31/14 PCT

Accounts

Amount

at 03/31/15 PCT

Accounts

$82,140,389 $240,610,628 $240 610 628 $256,741,482 $99,050,250 $39,512,805 $718,055,554

1.83% 5 36% 5.36% 5.72% 2.20% 0.88% 16.0%

4,328 9 624 9,624 8,297 3,168 1,238 26,655

$81,271,757 $240,213,144 $240 213 144 $258,950,787 $102,562,520 $40,455,644 $723,453,851

1.81% 5 36% 5.36% 5.78% 2.29% 0.90% 16.2%

4,521 9 806 9,806 8,427 3,231 1,261 27,246

$86,415,376 $251,404,698 $251 404 698 $276,182,234 $107,215,588 $39,066,063 $760,283,958

1.87% 5 44% 5.44% 5.97% 2.32% 0.85% 16.4%

4,636 9 971 9,971 8,550 3,264 1,285 27,706

$92,863,126 $262,320,161 $262 320 161 $288,931,840 $109,739,634 $40,266,535 $794,121,296

1.96% 5 55% 5.55% 6.11% 2.32% 0.85% 16.8%

4,822 10,110 10 110 8,663 3,291 1,310 28,196

$47,948,490 $180,685,414 $228,633,905

1.1% 4.0% 5.1%

3,309 8,956 12,265

$44,445,375 $170,260,927 $214,706,302

1.0% 3.8% 4.8%

3,323 8,911 12,234

$40,873,412 $165,284,391 $206,157,803

0.9% 3.6% 4.5%

3,260 8,811 12,071

$42,663,152 $174,830,600 $217,493,752

0.9% 3.7% 4.6%

3,260 8,732 11,992

$230,234,973 $0

5.1% 0.0%

9,836 0

$206,656,843 $0

4.6% 0.0%

9,793 0

$220,615,358 $0

4.8% 0.0%

9,693 0

$2,821 $225,035,218

0.0% 4.8%

0 9,616

$230,234,973

5.1%

9,836

$206,656,843

4.6%

9,793

$220,615,358

4.8%

9,693

$225,038,039

4.8%

9,616

$185,345,171 $185 345 171 $185,345,171

44.1% 1% 4.1%

66,309 309 6,309

$187,833,654 $187 833 654 $187,833,654

44.2% 2% 4.2%

66,514 514 6,514

$207,307,213 $207 307 213 $207,307,213

44.5% 5% 4.5%

66,729 729 6,729

$230,689,252 $230 689 252 $230,689,252

44.9% 9% 4.9%

77,084 084 7,084

$1,482,953,986 $1,482,953,986

33.0% 33.0%

20,791 $1,494,419,815 20,791 $1,494,419,815

33.4% 33.4%

20,861 $1,565,484,655 20,861 $1,565,484,655

33.9% 33.9%

20,947 $1,578,600,218 20,947 $1,578,600,218

33.4% 33.4%

21,055 21,055

$158,753,008 $158 753 008 $158,753,008

3.5% 3 5% 3.5%

8,176 8 176 8,176

$159,932,558 $159 932 558 $159,932,558

3.6% 3 6% 3.6%

8,122 8 122 8,122

$163,633,515 $163 633 515 $163,633,515

3.5% 3 5% 3.5%

8,100 8 100 8,100

$165,385,247 $165 385 247 $165,385,247

3.5% 3 5% 3.5%

8,071 8 071 8,071

$895,570,759 $895,570,759

19.9% 19.9%

13,096 13,096

$898,372,574 $898,372,574

20.1% 20.1%

13,032 13,032

$899,216,902 $899,216,902

19.5% 19.5%

13,024 13,024

$903,858,339 $903,858,339

19.1% 19.1%

12,979 12,979

$293,991,376 $293,991,376

6.5% 6.5%

9,151 9,151

$293,026,703 $293,026,703

6.5% 6.5%

9,073 9,073

$294,343,201 $294,343,201

6.4% 6.4%

8,998 8,998

$290,958,424 $290,958,424

6.2% 6.2%

9,088 9,088

$298,537,459 $298,537,459 $4,492,076,191

6.6% 6.6% 100.0%

4,674 $299,470,897 4,674 $299,470,897 104,644 $4,477,873,196

6.7% 6.7% 100.0%

4,777 $305,451,017 4,777 $305,451,017 105,138 $4,622,493,622

6.6% 6.6% 100.0%

4,857 $0 4,857 $319,733,292 105,396 $4,725,877,857

0.0% 6.8% 100.0%

5,025 5,025 106,022

37

Net Transfer Detail

Fund Name Contributions , , $3,941,929 gg Profile Portfolio Ultra Aggressive $8,335,932 Aggressive Profile Portfolio $5,545,589 Moderate Profile Portfolio $1,712,964 Conservative Profile Portfolio $577,249 Ultra Conservative Profile Portfolio $3,026,418 Fidelity Diversified International $871,841 DWS EAFE Equity Index $3,938,554 SSGA Russell Small Cap Index NL Series S $28,274 DCP Small Cap Fund $4,445,850 DCP Mid Cap Fund $19,000,767 DCP Large Cap Fund $2,527,591 DCP Bond $4,097,599 FDIC - Insured Savings Account $7,878,842 Deferred Compensation Stable Value $2,221,814 Schwab Self-Directed

Additional Deposit $273,470 , $511,157 $1,905,922 $950,616 $456,864 $25,505 $65,228 $82,182 $606 $298,507 $2,443,660 $276,536 $1,708,925 $21,073,701 $0

Transfers In $21,026,468 , , $13,022,275 $12,963,163 $10,831,915 $8,227,872 $4,401,016 $1,922,008 $15,771,214 $228,922,814 $20,710,816 $24,570,164 $6,393,080 $25,866,035 $45,475,383 $12,411,984

Distributions (($1,132,696) , , ) ($3,722,942) ($4,193,974) ($2,184,795) ($447,660) ($1,825,935) ($362,719) ($1,884,097) ($207,710) ($2,370,156) ($18,291,964) ($2,748,141) ($6,899,001) ($26,125,170) ($88,686)

Transfers Out (($20,691,775) , , ) ($14,556,189) ($10,012,402) ($10,865,105) ($8,126,446) ($6,558,230) ($2,843,961) ($250,122,677) ($2,035,429) ($8,519,446) ($29,248,758) ($6,701,765) ($28,071,210) ($47,746,403) ($6,210,613)

Ending Balance $3,417,397 , , $3,590,233 $6,208,297 $445,596 $687,879 ($931,226) ($347,602) ($232,214,824) $226,708,555 $14,565,571 ($1,526,131) ($252,700) ($3,297,652) $556,353 $8,334,499

Net Transfers $334,693 , ($1,533,913) $2,950,761 ($33,190) $101,426 ($2,157,213) ($921,953) ($234,351,463) $226,887,385 $12,191,370 ($4,678,594) ($308,685) ($2,205,174) ($2,271,020) $6,201,371

38

Net Cash Flow Detail

Contributions

Additional Deposit

Transfers In

Distributions

Transfers Out

Net Cash Flow

Ult A Ultra Aggressive i P Profile fil Portfolio P tf li

$3 941 929 $3,941,929

$273 470 $273,470

$21 026 468 $21,026,468

($1 132 696) ($1,132,696)

($20 691 775) ($20,691,775)

$3 417 397 $3,417,397

$334 693 $334,693

Aggressive Profile Portfolio

$8,335,932

$511,157

$13,022,275

($3,722,942)

($14,556,189)

$3,590,233

($1,533,913)

Moderate Profile Portfolio

$5,545,589

$1,905,922

$12,963,163

($4,193,974)

($10,012,402)

$6,208,297

$2,950,761

Conservative Profile Portfolio

$1,712,964

$950,616

$10,831,915

($2,184,795)

($10,865,105)

$445,596

($33,190)

$577,249

$456,864

$8,227,872

($447,660)

($8,126,446)

$687,879

$101,426

$3,026,418

$25,505

$4,401,016

($1,825,935)

($6,558,230)

($931,226)

($2,157,213)

$871,841

$65,228

$1,922,008

($362,719)

($2,843,961)

($347,602)

($921,953)

$3,938,554

$82,182

$15,771,214

($1,884,097)

($250,122,677)

($232,214,824)

($234,351,463) $226,887,385

Fund

Ultra Conservative Profile Portfolio Fidelity Diversified International DWS EAFE Equity Index SSGA Russell Small Cap Index NL Series S DCP Small Cap Fund DCP Mid Cap Fund DCP Large Cap Fund

Net Transfers

$28,274

$606

$228,922,814

($207,710)

($2,035,429)

$226,708,555

$4,445,850

$298,507

$20,710,816

($2,370,156)

($8,519,446)

$14,565,571

$12,191,370

$19,000,767

$2,443,660

$24,570,164

($18,291,964)

($29,248,758)

($1,526,131)

($4,678,594)

DCP Bond Fund

$2,527,591

$276,536

$6,393,080

($2,748,141)

($6,701,765)

($252,700)

($308,685)

FDIC - Insured Savings Account

$4,097,599

$1,708,925

$25,866,035

($6,899,001)

($28,071,210)

($3,297,652)

($2,205,174)

Deferred Compensation Stable Value

$7,878,842

$21,073,701

$45,475,383

($26,125,170)

($47,746,403)

$556,353

($2,271,020)

Schwab Self-Directed

$2,221,814

$0

$12,411,984

($88,686)

($6,210,613)

$8,334,499

$6,201,371

39

Loan Details LOANS INITIATED Year 2011 2012 2013 2014 2015

JAN 387 395 524 427 393

FEB 415 386 443 444 420

MAR 501 495 476 506 547

APR 438 501 612 550

MAY 510 496 593 561

JUN 508 488 560 595

JUL 484 549 652 514

AUG 557 575 620 541

SEP 459 520 546 544

OCT 465 516 579 581

NOV 484 572 504 463

DEC TOTAL YTD 487 5,695 501 5,994 555 6,664 497 6,223 1,360

PARTICIPANTS WITH ONE OUTSTANDING LOAN Year JAN 2011 9,783 2012 10,832 2013 11 952 11,952 2014 12,631 2015 12,953

FEB 9,885 11,839 11 732 11,732 12,696 12,964

MAR 9,957 11,709 11 757 11,757 12,826 13,429

APR 9,871 11,169 12 020 12,020 12,820

MAY 9,697 11,171 11 727 11,727 12,798

JUN 10,027 11,283 12 241 12,241 12,651

JUL 10,197 11,246 12 730 12,730 12,619

AUG 10,298 11,351 12 589 12,589 12,646

SEP 10,372 11,454 12 231 12,231 12,730

OCT 10,291 11,558 12 453 12,453 12,939

NOV 10,236 11,732 12 272 12,272 12,739

DEC 10,407 11,825 12 440 12,440 12,762

PARTICIPANTS WITH MORE THAN ONE OUTSTANDING LOAN Year JAN FEB 2011 4,020 4,116 2012 5,116 4,980 2013 6,236 6,991 2014 6,340 6,752 2015 6,454 6,408

MAR 4,193 5,264 6,251 6,721 6,954

APR 4,326 5,276 6,043 6,231

MAY 4,378 5,394 6,358 6,354

JUN 4,506 5,372 6,407 6,674

JUL 4,706 5,477 6,120 6,691

AUG 4,914 5,587 6,427 6,738

SEP 4,973 5,668 6,448 6,734

OCT 5,249 5,701 6,732 7,435

NOV 5,360 6,092 6,888 7,671

DEC 5,438 6,127 6,888 7,717

TOTAL OUTSTANDING LOANS Year 2011 2012 2013 2014 2015

JAN 13,803 15 948 15,948 18,188 18,971 19,407

FEB 14,001 16 819 16,819 18,723 19,448 19,372

MAR 14,150 16 973 16,973 18,008 19,547 20,383

APR 14,197 16 445 16,445 18,063 19,051

MAY 14,075 16 565 16,565 18,085 19,152

JUN 14,533 16 655 16,655 18,648 19,325

JUL 14,903 16 723 16,723 18,850 19,310

AUG 15,212 16 938 16,938 19,016 19,384

SEP 15,345 17 122 17,122 18,679 19,464

OCT 15,540 17 259 17,259 19,185 20,374

NOV 15,596 17 824 17,824 19,160 20,410

DEC 15,845 17 952 17,952 19,328 20,479

LOANS IN DEFAULTED STATUS Year 2011 2012 2013 2014 2015

JAN 596 690 842 866 958

FEB 586 751 773 847 940

MAR 639 732 765 951 1,011

APR 620 719 798 934

MAY 615 709 771 888

JUN 639 752 842 930

JUL 630 736 807 895

AUG 618 718 797 875

SEP 664 806 850 953

OCT 664 806 824 922

NOV 744 783 805 907

DEC 731 813 886 983

40

The End Director Lisa Tilley Cast J Joan W Watkins ki La Tanya Harris Producer Monise Lane 41