Subject: Labor Notice - BellSouth Savings and Security Plan (BSSP) Fund Change

The fiduciaries for the BellSouth Savings and Security Plan (BSSP) periodically review the investment funds available under the BSSP, and in this case recommended changes to the investment line-up.

 

When the market closes on February 28, 2020, investment options currently offered through the BSSP named DFA U.S. Large Cap Value II Portfolio, DFA U.S. Small Cap Value Portfolio and Bond Fund, will no longer be available.  If a participant is currently invested in the DFA U.S. Large Cap Value II Portfolio, DFA U.S. Small Cap Value Portfolio and/or Bond Fund, they may choose to move their investment to one or more of the BSSP’s other investment options prior to this date.

 

Unless alternate direction is provided by the participant on or before February 28, 2020, any existing balances in the DFA U.S. Large Cap Value II Portfolio, DFA U.S. Small Cap Value Portfolio and Bond Fund, as well as future contributions designated for such investments, will be directed to the BSSP’s Qualified Default Investment Alternative (QDIA), the LifePath Fund based on the participant’s date of birth.   

 

Additionally, when the market opens on March 2, 2020, the AT&T Total Return Bond Fund, Total U.S. Stock Market Index Fund & AT&T U.S. Stock Fund will be available as new options in BSSP for participants to exchange funds into and direct future contributions. 

 

This BSSP fund change will be communicated to all participants of the BSSP by January 30, 2020 via the attached SMM.  This document will also be available to participants on Fidelity’s NetBenefits website.