A Guide to Self-Directed Option ("SDO") Investing 1. Introduction: A Self-Directed Account Option ("SDO") is offered as an additional investment option of the Plan. Participants are able to invest in the mutual funds (referred to as "Core Fund Options" or "Core") currently offered by the Plan, as well as other permitted investments available through a Self-Directed Account Option. By opening an SDO, you are subject to the currently applicable Terms and Conditions of the SDO. They are available online at https://startright.bokf.com/sdohomepage/terms.htm 2. What are the Core Fund Options? The investment options that are offered to all participants under the Plan are referred to as the Core Fund Options. Additional fund detail can be obtained from the Mutual Fund Company or from the fund prospectuses, which are available on Start Right Online or through a Bank Participant Service Group Representative. 3. What is the Self-Directed Account Option? A Self-Directed Account Option ("SDO") is established as a separate Plan account on behalf of the Participant. The SDO Account holds all SDO assets, settles trades and provides the required Plan level reporting. The participant can designate a Financial Advisor to execute trades on his behalf, which settle in the participant’s SDO account at Bank ("Bank" refers to each of the financial institutions affiliated with BOK Financial Corporation, including Bank of Oklahoma, N.A.; Bank of Texas, N.A.; Bank of Texas Trust Company, N.A.; Alliance Trust Company; Bank of Albuquerque, N.A.; Bank of Arkansas, N.A.; Colorado State Bank and Trust, N.A.; Bank of Arizona, N.A.; and Bank of Kansas City, N.A.). A participant may also place trades without a designated Financial Advisor using Bank’s online trading system ("Portfolio Online"). 4. Who is Eligible for A SDO? All participants. 5. How do I trade in my Self-Directed Account? You have two (2) options when it comes to trading in your SDO Account. #1: You may trade online through the Internet by using Portfolio Online. and/or #2: You may trade through a Financial Advisor of your choice. However, you may only designate ONE Financial Advisor for your account at any one time. Your Financial Advisor will be required to settle trades according to Bank’s trading instructions (provided with the Self-Directed Account Option Participant and Financial Advisor Authorization Agreement). Financial Advisors may not utilize Portfolio Online for trading purposes. All Mutual Fund purchases, sales or exchanges must be placed through Bank through one of the following options: #1: Placing a mutual fund trade through Portfolio Online (If you have access) #2: Placing a mutual fund trade directly with a Bank Participant Service Group Representative If you have designated a Financial Advisor for your account, your Financial Advisor can contact a Bank Participant Service Group Representative to place a mutual fund trade in your account. You are responsible for all investment decisions made with respect to your SDO account. Your Financial Advisor serves as your agent for trades placed in your account. 6. What Investments are Available Through my SDO? You may invest in publicly traded domestic debt securities (including U.S. Government obligations and corporate bonds), publicly traded domestic equity securities, and mutual funds available through Bank. Unless directed otherwise, all mutual fund trades will be placed in a Bank Omnibus Mutual Fund account. You may direct mutual fund purchases to designate your Financial Advisor to be listed as broker of record. 7. Can I Utilize Both the Core Fund Options & the SDO? YES. You may have all or a part of your money invested in the Core Fund Options, or all or a part of your money invested in the SDO. 8. How are My Future Contributions and Loan Payments Invested? All of your new contributions and loan payments (if you have a loan) will be invested based on your Future Contribution Elections. You may change how your future contributions and loan payments are invested by accessing StartRight Online, Start Right Voice or through a Bank Participant Service Group Representative. 9. How Do I Transfer Money From my Core Fund Options to My SDO? Once your SDO account is opened, you may transfer money to your SDO account on any Bank business day by calling Start Right Voice or by logging into your account via Start Right Online and entering a transfer to your SDO account. All Core-to-SDO transfer requests entered on Start Right Voice or Start Right Online prior to the transaction cut-off time on each Bank business day will be liquidated using that day’s closing price, and your money will be transferred to your SDO account on the following Bank business day. Money transferred into your SDO account will be automatically invested in the money market sweep fund designated by the employer where it will remain until you or your Financial Advisor place a trade. When you request a transfer to the SDO, the transfer will be made pro-rata from each contribution type. 10. How Do I Transfer Money From my SDO to my Core Fund Options? You may request to transfer money from your SDO to your Core Fund Options on any Bank business day by calling a Bank Participant Service Group Representativeand requesting a transfer from your SDO to your Core Fund Options. Keep in mind that any assets not invested in the SDO money market sweep fund must be liquidated before a transfer can be made. You will need to liquidate the necessary assets through Portfolio Online or instruct your Financial Advisor to sell sufficient assets to provide liquid funds for the transfer (Please refer to the enclosed timeline). When you request a transfer to the Core Fund Options, your transfer will be made pro- rata by contribution type. Money received from your SDO into your Core Fund Options will be invested according to your future contribution elections on file. 11. How Can I Check My Account Balance? You may check your account balance in a number of different ways: #1: By calling Start Right Voice or accessing StartRight Online, you may check your total account balance as well as the balance in each of your Core Fund Options and the market value of your SDO account. Your Core Fund Option balances will be as of the prior Bank business day. Your SDO balance will reflect the market value as of two Bank business days prior. #2: You may access your SDO account via the web through Portfolio Online (If you have requested access). #3: On a quarterly basis, you will receive a trust statement from Bank detailing the SDO holdings as of quarter-end, and the activity in your SDO account for the quarter. #4: On a quarterly basis, you will receive a participant statement providing account balance information for your Core Fund Options, loan balances as well as the market value for your SDO. All statements will be mailed to you at the address on file with Bank. 12. How often will my Account Balance be updated on Start Right Voice and Start Right Online? The market value of your account will be adjusted on a daily basis. However, please note that while your core fund option balances will be as of the close of the prior Bank business day, the market value of your SDO account will be as of two Bank business days prior. Similarly, your quarterly participant statement will reflect the market value of each Core Fund Option as of the last Bank business day of the quarter. The SDO market value will be as of the next to last Bank business day of the quarter. 13. How Do I Request a Loan? If your plan allows for loans, you can request information about a loan by calling Start Right Voice or accessing Start Right Online, you can: • Determine the amount you have available to borrow • Determine the payment amount • Request loan documentation Since all loans must be funded from the Core Fund Options, you may need to transfer money from your SDO to provide sufficient money to fund your requested loan. 14. How Are Withdrawals And Distributions Handled? Withdrawals and distributions may not be made directly from the SDO. They must be funded from the Core Fund Options. If you do not have enough money in the Core Fund Options, you will need to transfer money from the SDO to the Core Fund Options in order for Bank to process your withdrawal or distribution. Money will be transferred from the SDO to the Core on a pro-rata basis from all contribution types. 15. Are Rollovers Permitted? Your Plan may permit you to roll over cash balances from a prior employer’s qualified plan. Please contact your human resources representative to obtain rollover instructions. Under certain conditions, you may be allowed to transfer assets in-kind from a SDO with a prior employer to your SDO in the plan. Please contact your human resources representative or a Bank Participant Service Group Representative for additional details. 16. Please Explain why additional Fees apply to the SDO: The SDO fees cover the costs associated with: 1. Processing SDO transactions. 2. Providing a consolidated participant statement for both your Core Fund Options and your SDO. 3. Providing balance information through Start Right Voice and Start Right Online for your Core Fund Options and your SDO. 4. Enabling you to model a plan loan using the total balance of your account (Core Fund Options plus SDO). 5. Providing a consolidated statement for the entire Plan, which is needed to comply with Department of Labor reporting requirements. 6. Execution of Online trades placed through Portfolio Online. 17. How Do I Open a New SDO? Request a SDO setup packet by contacting a Bank Participant Service Representative at 1-800-876-9557 or via email at firstname.lastname@example.org. You may fax or mail the completed materials to Bank. Once you have returned all completed materials, allow at least seven business days for the initial set-up (please refer to the enclosed timelines). 18. Who do I contact at Bank? To reach a Participant Service Representative concerning your Self-Directed Account, please call 1-800-876-9557 or via email at email@example.com. Fax Number: (918) 619- Timeline to Open an SDO Set-Up a New Account Day 1 to Day 4 Bank receives application, verifies information and sets up account; Day 5 Participant is notified that the SDO account has been established and is provided with access information to Portfolio Online (if requested). Participant can call Start Right Voice or access Start Right Online to request a transfer from their Core Fund Options to their SDO Bank liquidates Core Fund Options if transfer request is received prior to transaction cut-off time; Day 6 Bank transfers money to SDO; and Day 7 Money is available to trade. Transfers from Core Fund Options (Core) to Self-Directed Option (SDO) Day 1 Participant calls Start Right Voice or accesses Start Right Online prior to the transaction cut-off time and requests a transfer to the SDO; Day 2 Bank transfers money to SDO; and Day 3 Money is available to trade. Transfers from SDO to Core Fund Options (if liquid funds are available) Day 1 Participant requests a transfer through a Bank Participant Service Group Representative prior to the transaction cut-off time; money is transferred to core fund options; Day 2 Money is invested in Core Fund Options according to investment elections on file. Transfers from SDO to Core Fund Options (if funds are not available) Equity Trades Day 1 Participant requests sale of assets through Financial Advisor or through Portfolio Online. Day 2 to Day 3 Sale of assets is pending; Day 4 Trade settles; and Day 5 Participant requests a transfer through a Bank Participant Service Group Representative prior to the transaction cut-off time; money is transferred to core fund options Day 6 Money is invested in Core Fund Options according to investment elections on file. Mutual Fund Trades Day 1 Participant requests sale of assets through Financial Advisor or through Portfolio Online. Day 2 Trade settles; and Day 3 Participant requests a transfer through a Bank Participant Service Group Representative prior to the transaction cut-off time; money is transferred to core fund options Day 4 Money is invested in Core Fund Options according to investment elections on file.
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