Kohler Co. 401(k) Savings Plan - Wilde

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Kohler Co. 401(k) Savings PlanUpcoming changes to your 401(k) Plan investment optionsTo help you meet your retirement savings goals, Kohler Co. seeks to provide a broadly diversified lineup of fundswith excellent long-term performance, in addition to reasonable and competitive fees. In keeping with this objective,the company evaluates the Plan’s investment options on a regular basis, and makes changes as needed.What’s changingTo enhance the Plan’s investment lineup and help reduce fees for participants, five funds will be replaced effectiveTuesday, January 17, 2017. The new funds will offer similar investment objectives and risk characteristics as the fundsthey are replacing, but with lower fees (in most cases) which may result in improved bottom-line performance. Activelymanaged funds are being replaced with other actively managed funds in the large cap growth, small cap growth,and emerging markets sectors. In the foreign developed funds sector, Oakmark International Collective Fund is beingreplaced with a passive (index fund) option that provides more diversification among countries and holdings, whileseeking to minimize volatility. With the aim to provide more diversification in foreign developed and emerging markets,Oakmark Global Collective Fund is being eliminated from the lineup and is not being replaced with another fund. Instead,the account balances invested in Oakmark Global Collective Fund will be mapped into the Vanguard Total Stock MarketIndex Fund (50%) and the BlackRock Minimum Volatility EAFE Index Fund (50%). In conjunction with the changes to thefund lineup, the limit on contributions and transfers to the emerging markets sector is being eliminated.

Kohler Co. 401(k) Savings PlanThe table below shows how the current funds will transition to the new funds.THIS CURRENT FUNDFUND NAMEWILL BEEXPENSE REPLACED FUND NAMEBYRATIOTHIS NEW FUNDEXPENSERATIOTICKERWells Fargo AdvantageGrowth Fund0.75% ClearBridge Large CapGrowth Collective Fund –NEW0.70%N/ALord Abbett DevelopingGrowth Fund0.73% Aberdeen U.S. Small CapEquity Collective Fund – NEW0.90%N/AOppenheimer DevelopingMarkets Fund0.86%Virtus Emerging MarketsOpportunities Fund – NEW1.18%VREMXOakmark InternationalCollective Fund0.85% BlackRock Minimum VolatilityEAFE Index Fund – NEW0.28%N/AOakmark GlobalCollective Fund0.90% Vanguard Total Stock MarketIndex Fund (50%) ANDBlackRock Minimum VolatilityEAFE Index Fund – NEW (50%)0.12%N/A0.28%N/A What you need to doNo action is required from you. At 4:00 p.m. Eastern Time on Friday, January 13, 2017, assets in the current funds willautomatically transfer into the new funds as shown in the table above. Your assets will remain invested at all times. If youdo not want your assets automatically transferred as shown, you must transfer your fund balances into different fundsbefore 4:00 p.m. ET on January 13, 2017. Otherwise, you will be deemed to have made the elections described withinthis notice. Beginning Tuesday, January 17, 2017, you will have the opportunity to invest in the new funds, including twonew index funds that are being added to the Plan’s investment lineup.Two new index fundsTo provide you with even more diversification opportunities and investment flexibility, the Plan will add two more indexfunds—the TIAA-CREF Large Cap Growth Index Fund and the Vanguard Small Cap Growth Index Fund. These new,passively managed index funds track domestic large cap and small cap growth indexes, and complement the existingmid-cap, small cap value, equal weight S&P 500, and total stock market index funds. The index options are being addedin the large-growth and small-growth sectors to provide participants a choice between active and passive managersand to smooth volatility.Changes to the Stable Value optionThe current stable value option—the Wells Fargo Stable Value Fund—will be replaced by the T. Rowe Price StableValue Fund. Because of certain regulatory requirements, the transition to the T. Rowe Price Fund will not be completeduntil October 2017. Until then, both the Wells Fargo Fund and the T. Rowe Price Fund will remain in the Plan as twoseparate but linked investments under a new label—the Kohler Stable Value Fund. Any withdrawals you request fromthe Kohler Stable Value Fund will be taken from your Wells Fargo balance. All future contributions will be investedin the T. Rowe Price portion. This will happen behind the scenes without you needing to take action. In October 2017,remaining balances in the Wells Fargo portion will automatically transfer to the T. Rowe Price Stable Value Fund.For details on all the new funds, please refer to the enclosed fund fact sheets.

Your new fund lineup effective Tuesday,January 17, 2017Fund Type Fund NameStableValueExpenseRatioKohler Stable Value FundWells Fargo Stable Value Fund*0.57%T. Rowe Price Stable Value Fund – NEW**0.30%BondDelaware Diversified Income Trust0.38%BalancedDodge & Cox Balanced Fund0.53%DomesticStockVanguard Total Stock Market Index Fund0.12%American Beacon Bridgeway Large CapValue Fund0.75%TIAA-CREF Large Cap Growth Index Fund – NEW0.16%ClearBridge Large Cap Growth Collective Fund – NEW0.70%Vanguard Mid Cap Index Fund0.17%Vanguard Small Cap Growth Index Fund – NEW0.18%Fidelity Small Cap Discovery Fund1.01%Vanguard Small Cap Value Index Fund0.17%Aberdeen U.S. Small Cap Equity Collective Fund – NEW 0.90%BlackRock Equal Weight S&P 500 Index FundForeignStock0.18%BlackRock Minimum Volatility EAFE Index Fund – NEW 0.28%Virtus Emerging Markets Opportunities Fund – NEW1.18%* The Expense Ratio reflects that the Fund incurs investment-related expenses (other than theInvestment Management Fees paid to Galliard: 0.20%) for Investment Contracts, AcquiredFund Fees, Non-Affiliated Investment Management Fees (paid to Non-Affiliated InvestmentAdvisors), and administrative expenses incurred by the Fund. These expenses are deducteddirectly from the Fund’s net asset value and reduce the investment option’s rate of return.Based on available information for the current quarter, these fees are estimated to be 0.37%on an annualized basis. The Fund’s average annual returns shown are net of these fees.** Figure is equivalent to the annual Operating Expense ratio. The Fund incurs investmentrelated expenses for the SICs and SACs that it holds (i.e., fees paid to issuers of SICs andSACs and custody fees on underlying assets). These fees are paid from underlying assets ofthe SIC or SAC and reduce the respective contract’s crediting rate, thereby reducing interestincome earned by the Fund. Based on available information for the current quarter, thesefees are estimated to be 0.20% on an annualized basis. The Fund’s average annual returnsshown are net of these fees. Consistent with their accounting as a reduction of income,these fees are not included in computing the Fund’s annual operating expense ratio.Diversify your investments to protectagainst changing marketsAll investments have the potential to lose money aswell as earn money. But diversification—spreading yourmoney across several different types of investments—may help reduce risks and improve your chances ofpositive returns. The Plan’s new fund lineup allows youto diversify your account in several ways.Diversify across asset classes. Stocks, bonds andstable value investments tend to respond to marketconditions in different ways. When one is up, anothermay be down. A mix of asset classes can help protectyou against this volatility.Diversify across investment styles. Growth stocks(like those in the new ClearBridge Large Cap GrowthCollective Fund) are companies whose earnings areexpected to grow at above-average rates. Value stocks(like those in the Vanguard Small Cap Value IndexFund) are companies whose shares are selling at whatare thought to be bargain prices. Depending on marketconditions, one style may outperform the other at anygiven time. Thus, having both may be a good strategy.Diversify across company size. Small cap stocks(like those in the Fidelity Small Cap Discovery Fund) areshares in smaller, often less established companies.Large cap stocks (like those in the American BeaconBridgeway Large Cap Value Fund) are shares in larger,typically more stable companies. The performance ofsmall caps and large caps can vary from year to year.Diversify across countries and regions. Investing aportion of your account in foreign stocks (like those inthe BlackRock Minimum Volatility EAFE Index Fund orthe Virtus Emerging Markets Opportunities Fund) allowsyou to take advantage of global opportunities andreduce the impact of economic downturns in any onecountry or region.For details on all of the funds, including objectives, investment style, expense ratios and historical returns, visit the Plan Website at KOHLER.voya.com. Fund fact sheets can be found in the Fund Information section within Plan Investments.

Kohler Co. 401(k) Savings PlanWant investment help?Try Advisory Services provided by Voya RetirementAdvisors (VRA), powered by Financial Engines. *You can access personalized, objective investmentand retirement planning advice in three ways.Speak to a VRA RepresentativeYou can get personalized, objective investment advicefrom a licensed advisor over the phone by calling888-401-5722 weekdays from 8:00 a.m. to 8:00 p.m.ET, except on days when the stock market is closed.A VRA Representative can provide specificrecommendations based on your savings goals.There are no additional fees charged for this service.Online AdviceIf you are more of a “do it yourself” investor, use theOnline Advice tool located on the Plan Web site atKOHLER.voya.com. This interactive software guidesyou in your investment decisions and is offeredat no charge.Professional ManagementThis full-service option is intended for the “do it for me”investor. For a fee, your account is reviewed, necessarychanges are made for you, and you receive regularprogress reports. You can start and stop the servicewhenever you please. Call 888-401-5722 for details.If you are enrolled in Professional Management,Voya Retirement Advisors (VRA) will manage theprocess of reviewing the new funds and make anynecessary adjustments to your account.* Advisory Services provided by Voya Retirement Advisors, LLC (VRA).For more information, please read the Voya Retirement AdvisorsDisclosure Statement, Advisory Services Agreement and the Plan’sFact Sheet. These documents may be viewed online by accessingthe advisory services link(s) through the Plan Web site atKOHLER.voya.com. You may also request these from a VRAInvestment Advisor Representative by calling the Information line at888-401-5722. Financial Engines Advisors L.L.C. acts as a sub-advisorfor Voya Retirement Advisors, LLC. Financial Engines Advisors L.L.C.(FEA) is a federally registered investment advisor and wholly ownedsubsidiary of Financial Engines, Inc. Neither VRA nor FEA provides taxor legal advice. If you need tax advice, consult your accountant or ifyou need legal advice consult your lawyer. Neither Voya RetirementAdvisors nor Financial Engines Advisors can guarantee results and pastperformance is no guarantee of future results. Financial Engines is aregistered trademark of Financial Engines, Inc. All other marks are theexclusive property of their respective owners.CN1105-23732-1216Not participating in theKohler Co. 401(k) Savings Plan?It’s easy to enroll.If you’re not participating, getting started is easy.Just call the Information Line and ask to speak with aCustomer Service Associate. You can also learn moreabout the Plan and enroll anytime through the Plan Website at KOHLER.voya.com.Have questions? Help is available by phone or online.If you have questions about the fund changes, thePlan, or your account, please call the Information Lineat 888-401-5722. Customer Service Associates areavailable Monday through Friday, from 8:00 a.m. to8:00 p.m. ET, except on days when the stock marketis closed. You can also access the Plan Web site atanytime by visiting KOHLER.voya.com.KoCoFC 12.16

T. Rowe Price Stable Value FundReturnAs of 9/30/2016SnapshotBenchmarkPerformanceCiti Treasury Bill 3 Month USDInvestment Objective & StrategyThe T. Rowe Price Stable Value Fund seeks to provide maximumcurrent income while maintaining stability of principal. The Fundwill invest primarily in Guaranteed Investment Contracts (GICs),Bank Investment Contracts (BICs), Synthetic InvestmentContracts (SICs), and Separate Account Contracts (SACs). GICs,BICs, SICs, and SACs are types of investment contracts that aredesigned to provide principal stability and a competitive yield.Fees and ExpensesRedemption FeeN/ATrustee Fee*0.30Total Annual Operating Expenses Per 1,000 3.00Currency: US 2006200820072006T. Rowe Price Stable iti Treasury Bill 3 Mon formance Disclosure: The performance data quoted represents past performance and does not guarantee futureresults. The investment return and principal value of an investment will fluctuate; thus an investor’s shares, whenredeemed, may be worth more or less than their original cost. Current performance may be lower or higher than thereturn data quoted herein. For more current information including month-end performance, please call 1-888-401-5722or visit KOHLER.voya.com.Trailing Returns*Figure is equivalent to the annual Operating Expense ratio.The Fund incurs investment-related expenses for the SICs andSACs that it holds (i.e., fees paid to issuers of SICs and SACs andcustody fees on underlying assets). These fees are paid fromunderlying assets of the SIC or SAC and reduce the respectivecontract’s crediting rate, thereby reducing interest incomeearned by the Fund. Based on available information for thecurrent quarter, these fees are estimated to be 0.20% on anannualized basis. The Fund’s average annual returns shown arenet of these fees. Consistent with their accounting as a reductionof income, these fees are not included in computing the Fund’sannual operating expense ratio.1 Year3 Years5 Years10 YearsSinceInceptionT. Rowe Price Stable Value1.932.032.203.235.14Citi Treasury Bill 3 Mon USD0.200.090.080.843.20Maturity Diversification0-1 YearsFund Characteristics8.00% Blended Yield (after fees)2-3 Years13.80% Effective Duration3-4 Years78.20% Annualized Turnover2.09%3.04 Years0.20%Operations and ManagementInception Date9/30/1988Portfolio Manager—Advisor—Telephone—Total Fund Assets ( mil)Issuer14,190.43MultipleAsset DiversificationCredit Quality DiversificationCorporate, Foreign, & Gov't Entities40.10% U.S. Treasury15.30%U.S. Treasuries, Agencies, & Other22.20% U.S. Govt. Agency19.20%Mortgage-Backed Securities17.40% AAA16.90%Asset-Backed Securities12.30% AA5.20%8.00% A16.10%ReservesBBB17.60%Benefits and RisksBB0.40%Offers potential stability of principal by purchasing high-qualityGICs, BICs, SICs, and SACs, however, there is no assurance thatthe credit quality of the issuers will remain the same over the lifeof the investment. Because such investments are not activelytraded in the open market and generally must be held untilmaturity, there is risk that, like any investment, one or more ofthe Fund's holdings could fail to make scheduled interest andprincipal payments prior to maturity, potentially reducing theFund's income level and causing a loss of principal. The Fundattempts to minimize such risks by diversifying its investments byissuer, quality, and duration.Short-Term1.30%Reserves8.00% 2016 Morningstar, Inc., Morningstar Direct 312-696-6000. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) maynot be copied or distributed and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arisingfrom any use of information. Past performance is no guarantee of future performance. Visit our investment website at www.morningstar.com.

T. Rowe Price Stable Value FundAs of 9/30/2016Important DisclosuresThe Investment Profile may be preceded or accompanied by thefund's current prospectus or summary prospectus as well as thisdisclosure statement. The performance data given representspast performance and should not be considered indicative offuture results. Principal value and investment return willfluctuate, so that an investor's shares when redeemed may beworth more or less than the original investment. Fund portfoliostatistics change over time. The fund is not FDIC-insured, maylose value, and is not guaranteed by a bank or other financialinstitution.PerformanceTotal return reflects performance without adjusting for salescharges or the effects of taxation, but is adjusted to reflect allactual ongoing fund expenses and assumes reinvestment ofdividends and capital gains. If adjusted, sales charges wouldreduce the performance quoted.Standardized Total Return is total return adjusted for salescharges.NAV Return is based on net asset value (NAV) for a fund. Netasset value is calculated by dividing the total net assets of thefund by the total number of shares. NAVs come directly fromthe fund company. ETF investors purchase shares on anexchange at the market price, which may be different than theNAV.Market Return is the price at which an exchange-traded fund(ETF) may be bought or sold. The price listed may or may not bethe same as the fund's NAV.The fund's performance is compared with that of an index.The index is an unmanaged portfolio of specified securities andthe index does not refelct any intiital or ongoing expenses. Theindex cannot be invested in directly. A fund's portfolio may differsignificantly from the securities in the index.Returns for periods prior to share class inception representextended performance returns from an older share class orcomposite and have been linked to actual share classperformance. Additionally, since inception performance is basedon the inception of the strategy.Trustee Fee / Total Annual Operating ExpenseThis is the percentage of fund assets paid for operatingexpenses and management fees. The expense ratio typicallyincludes the following types of fees: accounting, administrator,advisor, auditor, board of directors, custodial, distribution(12b-1), legal, organizational, professional, registration,shareholder reporting, sub-advisor, and transfer agency. Theexpense ratio does not refelct the fund's brokerage costs or anyinvestor sales charges. In contrast to the net expense ratio, thegross expense ratio does not reflect any fee waivers in effetduring the time period.FeesThe Gross/Net Expense Ratio is the operating cost and includesmanagement fees and other expenses. A portion of the Gross/Net Expense Ratio is used to reduce the fees incurred inproviding services to the Kohler Co. 401(k) Savings Plans. Theinvestment results listed are net of the Expense Ratio.Benchmark DescriptionThis index measures monthly return equivalents of yieldaverages that are not marked to market. The Three-MonthTreasury Bill Index consists of the last three three-monthTreasury bill issues.Risk & Return StatisticsStandard Deviation is the statistical measurement of dispersionabout an average, which depicts how widely a stock orportfolio’s returns varied over a certain period of time. Investorsuse the standard deviation of historical performance to try topredict the range of returns that is most likely for a giveninvestment. When a stock or portfolio has a high standarddeviation, the predicted range of performance is wide, implyinggreater volatility. Morningstar computes standard deviationusing the trailing monthly total returns for the appropriate timeperiod. All of the monthly standard deviations are thenannualized.Beta is a measure of a fund’s sensitivity to market movements.The beta of the market is 1.00 by definition. Morningstarcalculates beta by comparing a fund’s excess return overTreasury bills to the market's excess return over Treasury bills,so a beta of 1.10 shows that the fund has performed 10% betterthan its benchmark index in up markets and 10% worse in downmarkets, assuming all other factors remain constant.Conversely, a beta of 0.85 indicates that the fund’s excessreturn is expected to perform 15% worse than the market’sexcess return during up markets and 15% better during downmarkets.Excessive Trading and/or Short Term TradingThis designated investment alternative may maintain a policylimiting excessive trading and/or short term trading. Frequentshort-term trades within a mutual fund increase theadministrative costs associated with processing transactionsand in certain circumstances could dilute the returns earned byother fund shareholders. Excessive trading policies provide forthe monitoring of trading activity and will restrict a shareholder'strading privileges after a certain number of "round-trip"transactions. A "round trip" is typically defined as a purchasefollowed by a sale (or the opposite) within a specified period oftime.Sales FeesAlso known as loads, sales fees list the maximum level of initial(front-end) and deferred (back-end) sales charges imposed by afund. The scales of minimum and maximum charges are takenfrom a fund's prospectus. Because fees change frequently andare somtimes waived, it is wise to examine the fund'sprospectus carefully for specific information before investing.Principal RisksThe specific risks associated with investing in this fund. Pleasesee the Risk Definitions document for more information on eachtype of risk. 2016 Morningstar, Inc., Morningstar Direct 312-696-6000. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) maynot be copied or distributed and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arisingfrom any use of information. Past performance is no guarantee of future performance. Visit our investment website at www.morningstar.com.

TIAA-CREF Large Cap Growth IndexReturnAs of 9/30/2016SnapshotBenchmarkPerformanceRussell 1000 Growth TR USDOverall Morningstar RatingÙÙÙÙMorningstar CategoryUS OE Large GrowthCurrency: US Dollar40.020.00.0-20.0-40.0YTD20152014An investment's overall Morningstar Rating, based on itsrisk-adjusted return, is a weighted average of itsapplicable 3-, 5-, and 10-year Ratings. See disclosure fordetails.Investment Objective & StrategyThe investment seeks a favorable long-term total return, mainlythrough capital appreciation, by investing primarily in a portfolioof equity securities of large domestic growth companies basedon a market index. Under normal circumstances, the fund investsat least 80% of its assets in securities of its benchmark index(the Russell 1000 Growth Index). It buys most, but notnecessarily all, of the stocks in its benchmark index, and theadvisor will attempt to closely match the overall investmentcharacteristics of the fund's benchmark 0132012201120102009200820072006TIAA-CREF Large Cap Gr Index5.995.6112.9833.3415.222.5816.5237.18 -38.4611.649.05Russell 1000 Growth TR USD6.005.6713.0533.4815.262.6416.7137.21 -38.4411.819.07US OE Large Growth3.523.5710.0733.8715.24-2.5615.4035.22 -40.9013.166.94Performance Disclosure: The performance data quoted represents past performance and does not guarantee future results. Theinvestment return and principal value of an investment will fluctuate; thus an investor’s shares, when redeemed, may be worthmore or less than their original cost. Current performance may be lower or higher than the return data quoted herein. For morecurrent information including month-end performance, please call 1-888-401-5722 or visit KOHLER.voya.com.Trailing ReturnsFees and ExpensesRedemption FeeN/AProspectus Net Expense Ratio0.16Prospectus Gross Expense Ratio0.16Prospectus Gross Expense Ratio Per 10001.601 Year3 Years5 Years10 YearsSinceInceptionTIAA-CREF Large Cap Gr Index13.7411.7516.518.779.15Russell 1000 Growth TR USD13.7611.8316.608.859.25US OE Large Growth10.509.1814.766.937.83Portfolio AnalysisPortfolio Date: 9/30/2016Portfolio Date: 9/30/2016Operations and ManagementPortfolio Manager99.3Philip James(Jim) CampagnaBond0.0Cash0.5Other0.2Total100.0Teachers Advisors LLC—TelephoneWeb Sitewww.tiaa-cref.orgAnnual Turnover Ratio %24Total Fund Assets ( mil)3,595IssuerMorningstar Equity Style Box Market CapSmallStockMidAdvisor%10/1/2002LargeInception DateValueBlendMarket Cap Large34.1Market Cap Mid18.8Market Cap Small1.3Market Cap Micro0.0TIAA-CREF Asset ManagementMorningstar Equity SectorsPrincipal RisksPortfolio Date: 9/30/2016Portfolio Date: 9/30/2016Loss of money, Not FDIC insured, Index Management, Issuer,Market/Market VolatilityApple Inc5.36Microsoft Corp4.12Amazon.com Inc3.07Facebook Inc A2.72Alphabet Inc A5 Yr Risk Metrics11.64% Assets3.0818.51Financial Services5.25Real Estate2.132.23Communication Services4.30Alphabet Inc C2.18EnergyThe Home Depot ion Ratio-0.91Visa Inc Class A1.49Up Capture Ratio99.75Walt Disney Co1.43Comcast Corp Class A1.40Total Number of Holdings605100.14Basic MaterialsConsumer CyclicalBetaDown Capture Ratio45.8GrowthTop 10 HoldingsStandard Deviation%Market Cap GiantConsumer DefensiveHealthcareUtilities 2016 Morningstar, Inc., Morningstar Direct TM 312-696-6000. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied ordistributed and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of information. Pastperformance is no guarantee of future performance. Visit our investment website at www.morningstar.com.0.649.4517.210.07

TIAA-CREF Large Cap Growth IndexAs of 9/30/2016Important DisclosuresThe Investment Profile may be preceded or accompanied by thefund's current prospectus or summary prospectus as well as thisdisclosure statement. The performance data given representspast performance and should not be considered indicative offuture results. Principal value and investment return willfluctuate, so that an investor's shares when redeemed may beworth more or less than the original investment. Fund portfoliostatistics change over time. The fund is not FDIC-insured, maylose value, and is not guaranteed by a bank or other financialinstitution.PerformanceTotal return reflects performance without adjusting for salescharges or the effects of taxation, but is adjusted to reflect allactual ongoing fund expenses and assumes reinvestment ofdividends and capital gains. If adjusted, sales charges wouldreduce the performance quoted.Standardized Total Return is total return adjusted for salescharges.NAV Return is based on net asset value (NAV) for a fund. Netasset value is calculated by dividing the total net assets of thefund by the total number of shares. NAVs come directly fromthe fund company. ETF investors purchase shares on anexchange at the market price, which may be different than theNAV.Market Return is the price at which an exchange-traded fund(ETF) may be bought or sold. The price listed may or may not bethe same as the fund's NAV.The fund's performance is compared with that of an index.The index is an unmanaged portfolio of specified securities andthe index does not reflect any initial or ongoing expenses. Theindex cannot be invested in directly. A fund's portfolio may differsignificantly from the securities in the index.Returns for periods prior to share class inception representextended performance returns from an older share class orcomposite and have been linked to actual share classperformance. Additionally, since inception performance is basedon the inception of the strategy.Total Annual Operating ExpenseThis is the percentage of fund assets paid for operatingexpenses and management fees. The expense ratio typicallyincludes the following types of fees: accounting, administrator,advisor, auditor, board of directors, custodial, distribution(12b-1), legal, organizational, professional, registration,shareholder reporting, sub-advisor, and transfer agency. Theexpense ratio does not reflect the fund's brokerage costs or anyinvestor sales charges. In contrast to the net expense ratio, thegross expense ratio does not reflect any fee waivers in effectduring the time period.Also known as the Prospectus Gross Expense Ratio,Morningstar pulls the prospectus gross expense ratio from thefund's most recent prospectus. Prospectus expense ratiosreflect material changes to the expense structure for the currentperiod.Sales FeesAlso known as loads, sales fees list the maximum level of initial(front-end) and deferred (back-end) sales charges imposed by afund. The scales of minimum and maximum charges are takenfrom a fund's prospectus. Because fees change frequently andare sometimes waived, it is wise to examine the fund'sprospectus carefully for specific information before investing.FeesThe Prospectus Gross/Net Expense Ratio is the operating costand includes management fees and other expenses. A portion ofthe Prospectus Gross/Net Expense Ratio is used to reduce thefees incurred in providing services to the Kohler Co. 401(k)Savings Plans. The investment results listed are net of theExpense Ratio.Morningstar Rating Often simply called the Star Rating, the Morningstar Ratingbrings load-adjustments, performance (returns) and risk togetherinto one evaluation. To determine a fund's star rating for a giventime period (three, five, or 10 years), the fund's risk-adjustedreturn is plotted on a bell curve: If the fund scores in the top10% of the category, it receives 5 stars (Highest); if it falls in thenext 22.5% it receives 4 stars (Above Average); a place in themiddle 35% ea

The current stable value option—the Wells Fargo Stable Value Fund—will be replaced by the T. Rowe Price Stable Value Fund. Because of certain regulatory requirements, the transition to the T. Rowe Price Fund will not be completed until October 2017. Until then, both the Wells Fargo Fund and the T. Rowe Price Fund will remain in the Plan as .

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