Participants May Benefit from Fund Family Settlement

Some ICMA-RC participants may benefit from a settlement in which the Securities and Exchange Commission resolved an administrative action involving the Massachusetts Financial Services Company (MFS) and several other fund families.

The Massachusetts Investors Growth Stock Fund was among the MFS funds affected by improper trading practices from April 1, 2000, through October 31, 2003. The fund, offered by an outside mutual fund family, is no longer offered as an investment option in the VantageTrust Series.

MFS has informed ICMA-RC that VantageTrust will receive a payment from the settlement fund on behalf of impacted clients. This payment will be applied to affected accounts. ICMA-RC will keep plan sponsors and participants informed about the restitution amounts and the distribution plan.