1. During Your Working Years Your Institution’s Retirement Health Plan Powered by

2. Start Asking Questions 2 Is my pension enough? Will I need additional insurance? How much should I save? What does Medicare cover?

3. Medicare Coverage & Costs 3 *Source: National Institute on Aging, Newsroom, Dramatic changes in U.S. highlighted in new census, NIH report, June 26, 2013. Is Medicare Enough? Medicare is the primary payer, but retirees also need supplemental health insurance 62%62% Medicare is Not Enough Medicare covers only about 62% of total healthcare expenses in retirement.*

4. Medicare Expenses in Retirement Add Up 4 Annual deductible, copays & coinsurance Part A - Hospital Annual premiums, copays & coinsurance Part B - Doctor Annual premium, copays & coinsurance Part C – Medicare Advantage Annual premium (higher income), deductible, copays, coinsurance, Coverage Gap cost shares Part D – Rx

5. Healthcare Expenses in Retirement Add Up 5 Supplemental or Medicare Advantage premiums and deductibles Medical equipment Vision & hearing Skilled nursing & long-term care

6. Your Institution Has You Covered 6 General retirement expenses Taxble distribution Beneficiaries Assets passed to estate Retirement Plan Retirement Health Plan Exclusively for health expenses Tax-free distribution Dependents Assets passed back to plan Income Security + Healthcare Security = Retirement Readiness

7. The Power of Compounding 7 YEARS OF SAVING Total: $122,709 Total: $52,397 $5,409 $12,000$24,000 $28,397 $36,000 $86,709 $48,000 $216,012 $0 $50,000 $100,000 $150,000 $200,000 $250,000 $300,000 10 years20 years30 years40 years SAVINGS Just by saving $100 a month Potential account earnings Contributions Total: $264,012 Total: $17,409 These examples are intended for illustrative purposes and are not a prediction of investment results. Your own Plan account may earn more or less than this example. Actual account balances will be determined by the contributions made and any investment gains or losses. Investing in this manner does not ensure a profit or guarantee against loss in declining markets. These examples do not take fees into account and actual balances will generally be reduced by fees. Contributions and earnings accrue tax-free and are paid out tax-free for reimbursement of qualified health expenses. These examples are based on $100 contributions made at the beginning of each month and a 7% annual rate of return compounded monthly. Chart balances shown are end-of-year balances.

8. Current Health Account Investment Options TickerFund Name (Retirement Class) TIEXXTIAA-CREF Money Market R TLIRXTIAA-CREF Lifecycle Retire Income TCLEXTIAA-CREF Lifecycle 2010 Retire TCLIXTIAA-CREF Lifecycle 2015 Retire TCLTXTIAA-CREF Lifecycle 2020 Retire TCLFXTIAA-CREF Lifecycle 2025 Retire TCLNXTIAA-CREF Lifecycle 2030 Retire TCLRXTIAA-CREF Lifecycle 2035 Retire TCLOXTIAA-CREF Lifecycle 2040 Retire TTFRXTIAA-CREF Lifecycle 2045 Retire TLFRXTIAA-CREF Lifecycle 2050 Retire Make voluntary after-tax contributions via payroll deduction or online at tiaa-cref.org Investments accumulate tax-free and are disbursed tax-free

9. Emeriti Retirement Health Benefit 9 Powered by Institution makes tax-free contributions to your health account You may make after- tax contributions Upon separation of service, use assets, tax-free, for reimbursement of qualified medical expenses Upon turning 65, enroll in the plan’s group health insurance Pay premiums tax-free out of your health account Triple Tax Advantage

10. Emeriti Retirement Health Benefit 10 Tax Advantaged Health Account in Action Tax-free withdrawal of $1,000 100 cents on the dollar Pay with Emeriti Health Account Taxable withdrawal of approximately $1,400 72 cents on the dollar in 28% federal income tax bracket Pay with 403(b) Retirement Plan $1,000 MEDICAL BILL

11. Next Steps 11 Via payroll deduction or ACH transfers from your bank account Make voluntary contributions Visit Emeriti website for more information Knwowing your institution has you covered with a retirement health plan Enjoy your working years! 1  2 3

12. For More Information 12 Emeriti Service Center 1-866-EMERITI (1- 866-363-7484) Call or visit us online. Visit the Emeriti website www.EmeritiHealth.org

13. 13 Accumulation Insurance Disbursement Oversight Oversight, legal, insurance renewal. EMERITI TIAA-CREF AETNA SAVITZ The Emeriti Program Accumulation record keeper, investment trust management. Disbursement record keeper, insurance enrollment and billing, QME adjudication. National insurance underwriter.

14. 14 ThankYou FOR JOINING US Powered by

15. Emeriti Retirement Health Solutions provided this information and is responsible for its content. Emeriti, TIAA-CREF, Savitz, Aetna Life Insurance Company, and HealthPartners are independent corporations and are not legally affiliated. Emeriti Retirement Health Solutions is not an insurance company, insurance broker or insurance provider. Summary Plan Description (SPD) This presentation is intended to provide you with a brief summary of some of the details of your Employer’s Emeriti Plan and the Emeriti Program. For a full summary of the terms of your Employer’s Emeriti Plan you must consult the SPD, which will be provided to you upon enrollment or upon request. Investment Adviser Status Emeriti Retirement Health Solutions is a registered investment adviser for purposes of selecting the range of investment options available under the Emeriti Program. Emeriti may provide non-personalized educational materials to plan participants relating to their and their employer’s contribution to their Emeriti Plan and the allocation of their Emeriti Health Account balances among available investment options. Emeriti does not provide personalized investment advice to participants. The participation interests in the voluntary employee contribution VEBA trusts associated with the Emeriti plans (the “Interests”) may be treated as securities under federal or various state securities laws. The offering of these Interests is subject to compliance with any applicable federal or state law. For residents of Georgia, the Interests are being offered in reliance on paragraph 13 of Code Section 10-5-9 of the Georgia Securities Act of 1973, as amended (the “Georgia Act”). The Interests may not be sold or transferred except in a transaction which is exempt under the Georgia Act or pursuant to an effective registration under the Georgia Act. 15

16. Interests in any retiree healthcare plan discussed herein are offered solely by the employer. Teachers Insurance and Annuity Association of America (TIAA) will provide services to the plan and may issue plan communications on behalf of the plan sponsor, in its capacity as a plan recordkeeper. TIAA-CREF Individual & Institutional Services, LLC serves as a broker-dealer with respect to underlying mutual funds only, and does not offer, market or sell interests in such plans or otherwise provide broker-dealer services with respect to the interests in such plans. TIAA-CREF products may be subject to market and other risk factors. See the applicable product literature, or visit tiaa-cref.org for details. Investment, insurance and annuity products are not FDIC insured, are not bank guaranteed, are not deposits, are not insured by any federal government agency, are not a condition to any banking service or activity, and may lose value. The tax information contained herein is not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding tax penalties that may be imposed on the taxpayer. It was written to support the promotion of the products and services addressed herein. Taxpayers should seek advice based on their own particular circumstances from an independent tax advisor. 16

17. addendum 17

18. 18 Emeriti’s 2014 investment options