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FAQs

2

help you choose an appropriate mix, are available online at Fidelity NetBenefits®.

The Plan also offers the Fidelity Freedom Funds® that offer a blend of stocks, bonds and short- term investments within a single fund. Each Freedom Fund's asset allocation is based on the number of years until the fund's target retirement date. The Freedom Funds are designed for investors who want a simple approach to investing for retirement. Lifecycle funds are designed for investors expecting to retire around the year indicated in each fund's name. It is important to keep in mind that the lifecycle funds become more conservative as they near their target retirement date. However, like all the plan's investment options, they involve risk. Principal is not guaranteed at any time and it is possible to lose money, including near and after your retirement.

The Plan also offers Fidelity® Portfolio Advisory Service at Work, a managed account service that lets you delegate the day-to-day management of your workplace savings plan account to professional investment managers. Fidelity's experienced professionals evaluate the investment options available in your plan and identify a model portfolio of investments appropriate for an investor like you. The service then invests your account to align with this model portfolio and provides ongoing management of your account to address changes in the markets, your plan's investment lineup, and changes in your personal or financial situation.

With a managed account you can take advantage of Fidelity's resources and experience to help ensure that:

 Your investments are managed through the ups and downs of the market.

 You're keeping your accounts aligned with your goals through annual reviews and check- ins.

 Your account is actively managed to create an opportunity for long-term gains while managing the risk associated with investing.

To see if Fidelity® Portfolio Advisory Service at Work is right for you, log onto NetBenefits® at https://netbenefits.fidelity.com/pas where you can easily enroll in the Service and learn more.

Fidelity Portfolio Advisory Service at Work is a service of Strategic Advisers, Inc., a registered

investment adviser and a Fidelity Investments company. This service provides discretionary money management for a fee.

Please note that performance of the model portfolios depends on the performance of the underlying investment options. These investments are subject to the volatility of the financial markets in the U.S. and abroad and may be subject to additional risks with investing in high yield, small cap and foreign securities.

For those desiring the most investment flexibility and choice, the Plan offers a self-directed brokerage option, which gives you access to individual stocks and bonds as well as many other mutual funds. A complete description of the Plan's investment options and their performance, as well as planning tools to help you choose an appropriate mix, are available online at Fidelity NetBenefits®.

How much should I save for retirement?

Fidelity's planning tools are designed to help you manage your assets as you plan for retirement. Simply log on to Fidelity NetBenefits® at www.fidelity.com/atwork to access these tools.

When am I vested?

You are immediately 100% vested in your own contributions to Oakland County Deferred Compensation Plan, as well as any earnings on them.

Can I take a loan from my account?

Although your plan account is intended for the future, you may borrow from your account for any reason. Generally, Oakland County Deferred Compensation Plan allows you to borrow up to 50% of your vested account balance. The minimum loan amount is $2,000, and a loan must not exceed $50,000. You then pay the money back into your account, plus interest, through after-tax payroll deductions. Any outstanding loan balances over the previous 12 months may reduce the amount you have available to borrow. The cost to initiate a loan is $35.00, and there is a quarterly maintenance fee of $3.75. The initiation and maintenance fees will be deducted directly from your individual plan account. If you fail to repay your loan (based on the original terms of the loan), it will be considered in "default" and treated as a distribution, making it subject to income tax and possibly to a 10% early withdrawal penalty. Defaulted loans may also impact your eligibility

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