| Print | Close Window | AMO Currents - Posted: June 18, 2010 |
Updated notice regarding the AMO Defined Contribution Plan, its default investment and allocating your personal investments within the Plan
On Jan. 1, 2011, American Maritime Officers members will begin receiving contributions into individual defined contribution retirement accounts. The American Maritime Officers Defined Contribution Plan (the "Plan") allows participants the right to choose how to invest the money in their Plan accounts. This updated notice provides information concerning the way in which assets in your account will initially be invested, as well as information regarding the self-direction of these funds by participants.
On or after Jan. 1, 2011, when the first contribution is made to each individual's defined contribution retirement account, that contribution will be invested in the qualified default investment alternative (QDIA) fund, the BlackRock Global Allocation Fund.
After (and only after) that first contribution has been made to your defined contribution retirement account, you will have the option of reallocating the initial contribution using any of the investment options available in the Plan. If you choose to reallocate the investment of assets available in your defined contribution retirement account, future contributions to your account will be allocated to the investment funds or model portfolio you have selected.
Participants will be able to allocate their personal investments within the Plan - after the first contribution has been made to their accounts - online at https://www.plandestination.com, by contacting the Plan's Morgan Stanley Smith Barney financial advisors at (800) 975-7061, or by contacting the Newport Group directly at (800) 650-1065.
If you do not provide instructions as to how your personal investments within the AMO Defined Contribution Plan should be allocated, the initial contribution will remain invested in the QDIA, and all subsequent contributions will be invested through the QDIA.
Each participant will be responsible for allocating their own personal investments within the Plan using their online account or by contacting the Newport Group or by contacting their Morgan Stanley Smith Barney financial advisors.
Please note that you may, at any time, elect to transfer any assets invested in the QDIA to any of the other investment options available under the Plan. There are no fees, expenses or other restrictions associated with transfers out of the QDIA. You may also, at any time, redirect the investment allocation for the assets in your account using your online account, or by contacting the Newport Group or by contacting the Plan's Morgan Stanley Smith Barney financial advisors.
The BlackRock Global Allocation Fund's objective is to provide long-term appreciation and capital preservation by investing in an appropriate mix of equity and fixed-income securities. The fund was selected based on the characteristics of all participants in the Plan. A prospectus for the Fund can be obtained on the Web site https://www.plandestination.com by clicking on the fund name.
You may request additional information (as applicable) regarding the QDIA, including a copy of the prospectus, financial statements and reports and other materials regarding the QDIA that are provided to the Plan, information concerning the value of shares in the QDIA, including current and past investment performance, and information concerning the value of shares of the QDIA held in your account.
You may also request additional or updated information regarding the other investment alternatives available under the Plan. A chart outlining model portfolios and available investment options under the AMO Defined Contribution Plan is available online. The American Maritime Officers Defined Contribution Plan offers a wide range of investment options to choose from, as well as four pre-designed asset allocation model portfolios with risk return characteristics ranging from conservative to aggressive. If you would like assistance selecting investment options that are right for you or would like to obtain additional information, please contact your Morgan Stanley Smith Barney financial advisors at (800) 975-7061.
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