Fund Facts  

Inception Date: Jul 17, 2009

Description

Principal Investment Strategies  

Fund Facts

Inception Date: Jul 17, 2009

Issuer: Bank of America

Description

Program Overview

Note: Effective August 20, 2016, transfers to CD Accounts are no longer accepted. Investments in CD Accounts will continue to accrue interest until maturity.

One-, three-, and five-year CD Accounts were issued by Bank of America, N.A. (“Bank”), a member of FDIC, and made available as VantageTrust investment options. CD Account deposits of up to $250,000 are insured by the FDIC, subject to certain limitations. Interest is credited to CD Account balances daily and compounded monthly. Withdrawals prior to the stated maturity date will reduce the annual percentage yield and are generally subject to an early withdrawal penalty. At maturity, interest will cease to accrue, and the entire principal amount and all accrued interest will be invested in an investment option selected by your Plan sponsor.

Interest Rates: Interest rates applicable to your CD Account investments can be obtained by contacting Investor Services at 800-669-7400.

CD Account Fees: ICMA-RC’s Annual CD Administrative Fee is assessed against assets invested in CD Accounts and reflected in the interest rate. For 1-year CD Accounts, ICMA-RC’s Annual CD Administrative Fee is 0.60%. For 3-year and 5-year CD Accounts issued after October 28, 2011, ICMA-RC’s Annual CD Administrative Fee fluctuates with interest rate changes and is equal to half of the gross rate offered by the Bank, with a maximum fee of 0.60%.

FDIC Insurance: ICMA-RC limits each participant’s aggregate investment in CD Accounts to an amount less than $250,000. This limit includes principal, accrued interest and future interest. If an individual’s total investment in CD Accounts exceeds the $250,000 limit, ICMA-RC will transfer the excess amounts to the Plan’s designated maturity fund. Note that ICMA-RC can only limit a participant’s aggregate investment in CD Accounts through Plans administered by ICMA-RC.

Withdrawals: Participants can withdraw assets from a CD Account at any time, but withdrawals prior to the maturity date are subject to an early withdrawal penalty equal to 180 days of interest on the amount withdrawn, unless one of the exceptions identified below applies. The interest penalty is calculated as the gross rate of the CD Account (i.e., the net rate plus the Annual CD Administrative Fee).

Exceptions to the Early Withdrawal Penalty:

• The participant is deceased or disabled.
• The participant is judicially determined to be legally incompetent.
• The participant has separated from service with the Plan sponsor.
• The distribution is for any allowable purchase of permissive service credits.
• The distribution is for any allowable distribution of participant rollover account balances or any age 70½ distributions allowable under the Internal Revenue Code, or
• The distribution is required under a qualified domestic relations order.

However, pursuant to Reserve Requirements for Depository Institutions (Regulation D), a federal regulation issued by the Board of Governors of the Federal Reserve with which all financial institutions must comply, all participants eligible for the exceptions identified above, who wish to withdraw assets from the CD Accounts within the first six (6) calendar days of investment, will be subject to a penalty of seven (7) days simple interest, where the interest is calculated as the gross rate of the CD Account (i.e., the net rate plus the Annual CD Administrative Fee) on the amount withdrawn. Supporting documentation may be requested in connection with such withdrawal requests.

CD Account assets will generally be excluded from withdrawals from your account (e.g., installment payments, emergency withdrawals, one-time payments), unless all other assets in your account have been exhausted. If you have multiple CD Accounts, and assets must be withdrawn from your CD Accounts to satisfy a withdrawal request, funds will be distributed on a first-in, first-out basis, unless you request otherwise. Note that CD Account balances will not be available as a source for loans.

Withdrawals taken in response to a financial emergency or hardship, and transfers to another retirement plan are subject to an early withdrawal penalty.

Principal Investment Risks  

There is no guarantee that the Fund will achieve its investment objective. You may lose money by investing in the Fund. The Fund’s principal investment risks include
. Please see the Disclosure Memorandum for additional information about the Fund’s risks.

 

Performance & Expenses

Standard Performance As of
Fund/Benchmark Name QtrYTD1-Yr3-Yr5-Yr10-YrSince Inception
VT 3 Year BoA CD Account  

Fund past performance, as shown, is no guarantee of how the Fund will perform in the future. The performance shown has been annualized for periods greater than one year. Investment returns and principal value will fluctuate, so that an investor's shares, when redeemed, may be worth more or less than their original cost. For current performance, visit www.icmarc.org.

Fund performance is shown comparing it to a "benchmark" which may be a (i) broad-based securities market index (ii) a group of mutual funds with similar investment objectives, or (iii) a short term government backed debt obligation such as a U.S. Treasury Bill. An index is not available for direct investment, is unmanaged, and does not reflect the costs of portfolio management or trading. A fund's portfolio may differ from the securities held in an index.

Annual Fund Operating Expenses  

 

 

Footnotes

1.

Before investing in the Fund you should carefully consider your investment goals, tolerance for risk, investment time horizon, and personal circumstances. There is no guarantee that the Fund will meet its investment objective and you can lose money.

2.

The Fund is an investment option of VantageTrust, a group trust established and maintained by VantageTrust Company, LLC, a wholly owned subsidiary of ICMA-RC. VantageTrust provides for the commingling of assets of certain trusts and plans as described in its Declaration of Trust, and is only available for investment by such eligible trusts and plans. The Fund is not a mutual fund. Its units are not deposits of VantageTrust Company and are not insured by the Federal Deposit Insurance Corporation or any other agency. The Fund is a security that has not been registered under the Securities Act of 1933 and is exempt from investment company registration under the Investment Company Act of 1940. For additional information regarding the Fund, including a description of the principal risks, please consult the VantageTrust Funds Disclosure Memorandum, which is available when you log in at www.icmarc.org, or upon request by calling 800-669-7400.