1. The New 2010 Roth Conversion Opportunity – Welcome to the Roth Race Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 The views expressed in this presentation are those of the investment professional and are subject to change at any time. These views do not necessarily reflect the views of Pioneer or others in the Pioneer organization.

2. 24473-00-1210 | December 2010 | Page 2 Basic Framework of Roth Conversion Related Tax-Cut Extensions  Extends Bush-era tax cuts for two years (2011 & 2012)  Extends EGTRRA tax rates for all income levels

3. 24473-00-1210 | December 2010 | Page 3 Income Tax Outlook Before Tax Bill (EGTRRA Sunset) (Federal Marginal Tax Brackets: Married, Filing Jointly) 25% 28% 31% 33% 36% 35% 39.6% © Convergent Retirement Plan Solutions, LLC 25%

4. 24473-00-1210 | December 2010 | Page 4 Impact on 2010 Roth Conversion Decision  Extension of EGTRRA marginal tax rate structure –Eliminates the downside of two-year tax spread option on 2010 Roth conversions –Enhances the tax-savings potential associated with two-year tax-spread option—especially for middle-income household  Reframes the Roth conversion discussion for last two weeks of 2010 4 © Convergent Retirement Plan Solutions, LLC

5. 24473-00-1210 | December 2010 | Page 5 A Tax Savings of Up to 11% on 2010 Conversions Comparison of Spreading Conversion Taxes—With and Without EGTRRA Extension Case Study: $100,000 AGI (Married, Filing Jointly) Conversion Amount Use 2011/12 Tax Split Tax Savings on Conversion with EGTRRA Sunsetwith EGTRRA Extension $50,000$14,000$12,500$1,500 = 11% $100,000$28,146$25,516$2,630 = 9% $150,000$43,646$39,516$4,130 = 9% $200,000$59,146$53,516$5,630 = 10% $500,000$163,969$150,966$13,003 = 8% © Convergent Retirement Plan Solutions, LLC

6. 24473-00-1210 | December 2010 | Page 6 A Tax Savings of Up to 11% on 2010 Conversions Comparison of Spreading Conversion Taxes—With and Without EGTRRA Extension Case Study: $300,000 AGI (Married, Filing Jointly) Conversion Amount Use 2011/12 Tax Split Tax Savings on Conversion with EGTRRA Sunsetwith EGTRRA Extension $50,000$18,000$16,500$1,500 = 8% $100,000$36,000$33,000$3,000 = 8% $250,000$92,043$84,108$7,935 = 9% $500,000$191,043$171,608$19,435 = 10% $1,000,000$389,043$346,608$42,435 = 11% © Convergent Retirement Plan Solutions, LLC

7. 24473-00-1210 | December 2010 | Page 7 25% 28% 33% 35% 2010Using Two-Year Tax Split Tax Legislation Completely Reframes the Potential Value of the Two-Year Tax Split Taxable Income $150,000 Taxable Income $150,000 Taxable Income $150,000 Roth Conv. $100,000 Roth Conv. $50,000 Roth Conv. $50,000 35% 33% 28% 25% © Convergent Retirement Plan Solutions, LLC Tax Rates Assuming income remains stable, splitting a conversion over two years helps to avoid tax bracket creep.

8. 24473-00-1210 | December 2010 | Page 8 This material is not intended to replace the advice of a qualified attorney, tax advisor, or insurance agent. Before your client makes any financial commitment regarding the issues discussed here, make sure he or she consults with the appropriate professional advisor. Pioneer Investments 60 State Street Boston, Massachusetts www.pioneerinvestments.com  2010 Pioneer Investments Pioneer is not affiliated with Convergent Retirement Plan Solutions, LLC