Employer Panel - Plan Governance How do you do it? April 23, 2013.

Employer Panel - Plan Governance

How do you do it?April 23, 2013

Family Dollar Stores, Inc.Family Dollar 401(k) Plan

Jonathan Gomes, Manager, Retirement Strategy & Compliance – Plan Sponsor

About Family Dollar• Discount chain of retail stores with

approximately 56,000 employees, 7,600 stores in 45 states

• Headquartered in Matthews, North Carolina, just outside of Charlotte

• Family Dollar is a Fortune 300, publicly held company with common stock traded on the New York Stock Exchange under the symbol FDO

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Plan Design401(k) Plan features:

– Pretax contributions • 1% to 75% of pay

– Employer Match• 100% immediate vesting

– Catch-up contributions– Rollover contributions– 90 day eligibility, no automatic enrollment– 12 Investment options, 5 Risk Base Models (Semi-annual auto-rebalance)– Loan and hardship features– Other plans:

• Non-qualified Deferred Compensation Plan• Employee Stock Purchase Plan

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Emory University and Emory Healthcare

Theresa Milazzo, Associate VP, Human Resources

Emory University and Emory Healthcare

• Founded in 1836 in Oxford, Georgia (healthcare since 1905)

• Established in Atlanta by a land grant from Coca-Cola president Asa Candler in 1915

• Top 20 university (by U. S. News and World Report)

• 11 Undergraduate and Graduate schools with 14,200 students

• $4 billion annual operating budget

• One of the Southeast's leading health care systems

• One of the nation's leading research universities - $520 million in research funding in fiscal 2012

• 27,700 employees

Familiar Faculty

President Jimmy Carter, Founder of The Carter Center

Author Salman RushdieHis Holiness the Dalai Lama

Familiar Faculty

CNN medical correspondent Sanjay Gupta

Other Points of Pride

• Yerkes National Primate Center – groundbreaking research in neuroscience and infectious disease

• Michael C. Carlos Museum, Schwartz Performing Arts Center, Lullwater Preserve

• Leader in global health initiatives

• Physician support for Grady Hospital, VA Medical Center, and Children’s Healthcare of Atlanta

• $72 million in charity care in 2012

• National champion women’s swimming and diving team for four years

• Award winning debate team since the 1980s

Emory’s Benefit Plans

• Two medical plans plus full array of other health and welfare plans

• Retiree medical plan• Courtesy scholarship plan• Four 403(b) retirement plans and a grandfathered

pension plan for Emory Healthcare• Emory University• Emory Healthcare• The Emory Clinic• Wesley Woods, Inc.

• Three 457(b) deferred compensation plans and various non-qualified plans

• Three vendors – Fidelity, TIAA-CREF and Vanguard

Invesco

Southern Employee Benefits ConferenceApril 23, 2013

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Invesco: We are a leading independent global investment manager

• Our global resources include:• $687.7 billion in assets under management around the globe.• Specialized investment teams managing investments across a wide range of asset classes and

investment styles.• 750+ investment professionals and 6,000+ employees worldwide.• On-the-ground in 20 countries, serving clients 150+ countries.• 2012 Revenues - $2.9 billion

• Our clients benefit from our:• Commitment to investment excellence• Depth of investment capabilities• Organizational strength

• Source: Invesco. Client-related data, investment professional and employee data are as of Dec. 31, 2012. Invesco Ltd. assets under management are as of Dec. 31, 2012, and include all assets under advisement, distributed and overseen by Invesco, including those of its affiliates Invesco Distributors, Inc. and Invesco PowerShares Capital Management LLC, which have an agreement with Deutsche Bank to provide certain marketing services for the PowerShares DB products. Invesco PowerShares Capital Management LLC is the sponsor for the PowerShares QQQ and BLDRS products. ALPS Distributors, Inc. is the distributor of PowerShares QQQ, BLDRS Funds and the PowerShares DB Funds. Invesco PowerShares Capital Management LLC and Invesco Distributors, Inc. are wholly owned, indirect subsidiaries of Invesco Ltd. Invesco Distributors, Inc. is the US distributor for Invesco Ltd.’s retail products. Invesco Ltd. is not affiliated with ALPS Distributors, Inc. or Deutsche Bank.

Helping Investors Worldwide Achieve Their Financial Objectives

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US Benefits – Overview Census 2,800+ employees and 7,500+ covered lives

Relatively young workforce – average age of employees is early 30’s

Locations Located in over 35+ states Most employees located in California, Colorado, Georgia, Illinois, Kentucky, Massachusetts, New York and

Texas Sales force and sales offices scattered throughout remaining states

Benefit Offerings Health

Medical (85% in HDHP w/HSA) Dental Vision

Income Protection and Retirement

Disability Plans Life and AD&D for employees and

dependents 401(k) Plan with both employer

matching and supplemental contributions

Work/Life

Generous paid-time-off plan (new hires start with 3 weeks vacation)

Employee Assistance Program (widely utilized by both employees and dependents)

Employee Stock Purchase Plan

Benefit Strategy Provide a comprehensive benefit package that is competitive both within our industry and geographies while aligning with our mission statement of “helping investors worldwide achieve their financial objectives”

Employ a thoughtful approach that links benefits with our overall business strategy and employee value proposition

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US Benefits – 401(k) Eligibility All employees are eligible from date of hire

• 90%+ of employees contribute into the 401(k)

• 80% of employees maximize the employer matching

Plan Highlights

Plan Features Options

Safe Harbor Plan Traditional pre-tax and

ROTH 401(k) elections Eligible compensation

includes salary, overtime, bonuses and commissions

Employer Contributions

$ for $ matching up to 6% Matching contributions always 100%

vested Supplemental Contributions: - Employed on 12/31 - 4 year vesting - 4% to 4.5% past years

Investment Options

Robust line up with 24 fund choices and 5 model portfolios (based on risk tolerance)

35% of employees invest in one of the 5 models

Invesco funds and non-proprietary funds in the line up

Limited brokerage account (mutual funds and ETF’s; no individual stocks)

Invesco stock no longer an investment option

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US Benefits

Successes: Challenges:Educated work force that is tech savvy

Good consumers of healthcare dollars (HDHP w/HSA has been very successful)

Average HSA balances increasing every year

Employees generally receptive to voluntary benefits (employees pay 100% of the premiums)

Actively planning for retirement and highly engaged with 401(k) plan

Educated work force that is tech savvy

Specialty drug utilization is way ahead of national average

Finding the right balance of employee communications on benefit plans

Providing the appropriate level of retirement planning education

Panel Discussion

• Structure– Who makes up your committees?– How many committees and different areas of focus? – Procedure and process?

• Budgets– How to pay for plan expenses? – Impact of changing regulations and compliance?– Impact of changing corporate budgets?

• Fee Governance– Impact of fee disclosure?– Process followed to comply with fee disclosure?– Going forward?

Panel Discussion

• Eligibility– Coverage rules (hours requirement, etc.)?

• Documentation– Types of documents?– What to keep on file?

• Advisors and Consultants– Areas of focus, specialties and roles?– Selection process?

If the DOL comes knocking?

• Now what?