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Share Name | Share Symbol | Market | Type |
---|---|---|---|
WEX Inc | NYSE:WEX | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 209.41 | 5 | 12:00:02 |
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ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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WEX Inc. Employee Savings Plan
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Date: June 28, 2018
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By:
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/s/ Lauren S. Carrolton
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Lauren S. Carrolton
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401(k) Committee Chair
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Date: June 28, 2018
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By:
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/s/ Roberto Simon
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Roberto Simon
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401(k) Committee Member
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Date: June 28, 2018
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By:
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/s/ Hilary A. Rapkin
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Hilary A. Rapkin
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401(k) Committee Member
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Date: June 28, 2018
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By:
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/s/ Kenneth W. Janosick
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Kenneth W. Janosick
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401(k) Committee Member
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Date: June 28, 2018
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By:
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/s/ Steven A. Elder
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Steven A. Elder
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401(k) Committee Member
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Report of Independent Registered Public Accounting Firm
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Financial Statements:
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Statements of Net Assets Available for Benefits - December 31, 2017 and 2016
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Statement of Changes in Net Assets Available for Benefits - Year ended December 31, 2017
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Notes to Financial Statements
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Supplemental Schedule:
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Form 5500- Schedule H, Part IV, Line 4i - Schedule of Assets (Held at End of Year) - December 31, 2017
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2017
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2016
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ASSETS
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Participant–directed investments
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$
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166,224,891
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$
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114,342,268
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Receivables:
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Notes receivable from participants
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2,248,856
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1,652,817
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Participant contribution receivable
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220
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—
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Accrued investment income
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1,000
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924
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Total receivables
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2,250,076
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1,653,741
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Net assets available for benefits
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$
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168,474,967
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$
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115,996,009
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2017
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Contributions:
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Participant contributions
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$
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10,926,207
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Employer matching contributions
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6,514,014
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Rollover contributions
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3,848,249
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Total contributions
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21,288,470
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Investment income:
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Net appreciation in fair value of investments
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17,240,022
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Dividends and interest
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7,953,935
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Net investment activity
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25,193,957
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Interest income on notes receivable from participants
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85,607
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Total additions
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46,568,034
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Deductions:
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Benefits paid to participants
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9,474,932
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Administrative expenses
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45,376
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Total deductions
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9,520,308
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Increase in net assets before conversion-in
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37,047,726
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Plan merge conversion-in (Note 1)
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15,431,232
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Increase in net assets
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52,478,958
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Net assets available for benefits:
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Beginning of year
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115,996,009
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End of year
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$
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168,474,967
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1.
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DESCRIPTION OF THE PLAN
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•
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A failure of the Plan or its trust to qualify for exemption from federal income taxes or any required prohibited transaction exemption under ERISA.
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•
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Any communication given to Plan participants designed to influence a participant not to invest in the Stable Value Fund or to transfer assets out of the Stable Value Fund.
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•
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Any transfer of assets from the Stable Value Fund directly into a competing investment option.
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•
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The establishment of a defined contribution plan that competes with the Plan for employee contributions.
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•
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Complete or partial termination of the Plan or its merger with another plan.
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2.
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SIGNIFICANT ACCOUNTING POLICIES
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3.
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FAIR VALUE
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Fair Value Measurements
at December 31, 2017 |
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Active Markets for
Identical Assets
(Level 1)
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Other Observable
Inputs
(Level 2)
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Significant
Unobservable Inputs
(Level 3)
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Total
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Assets:
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WEX Inc. Common Stock Fund
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$
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3,711,242
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$
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—
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$
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—
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$
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3,711,242
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Mutual Funds
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Equity/Stock Funds
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85,637,445
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—
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—
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85,637,445
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Bond/Fixed Income Funds
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21,651,877
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—
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—
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21,651,877
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Allocation Funds
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27,897,906
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—
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—
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27,897,906
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Money Market Funds (cash equivalent)
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(748,943
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—
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—
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(748,943
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Total
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$
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138,149,527
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$
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—
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$
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—
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138,149,527
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Common Collective Trusts Measured at Net Asset Value*
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28,075,364
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Total investments at fair value
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$
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166,224,891
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Fair Value Measurements
at December 31, 2016
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Active Markets for
Identical Assets
(Level 1)
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Other Observable
Inputs
(Level 2)
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Significant
Unobservable Inputs
(Level 3)
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Total
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Assets:
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WEX Inc. Common Stock Fund
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$
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2,754,786
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$
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—
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$
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—
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$
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2,754,786
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Mutual Funds
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Equity/Stock Funds
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58,617,467
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—
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—
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58,617,467
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Bond/Fixed Income Funds
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15,121,865
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—
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—
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15,121,865
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Allocation Funds
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16,688,549
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—
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—
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16,688,549
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Money Market Funds (cash equivalent)
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70,766
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70,766
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Total
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$
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93,253,433
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$
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—
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$
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—
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93,253,433
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Common Collective Trusts Measured at Net Asset Value*
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21,088,835
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Total investments at fair value
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$
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114,342,268
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Fair Value Estimate Using Net Asset Value per Share
December 31, 2017 |
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Fair Value *
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Unfunded
Commitment
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Redemption
Frequency
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Other
Redemption
Restrictions
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Redemption
Notice
Period
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Northern Trust Collective S&P 500 Index Fund
(a)
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$
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15,288,534
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$
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—
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N/A
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N/A
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N/A
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Northern Trust Extended Equity Market Index Fund
(a)
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4,207,447
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—
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N/A
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N/A
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N/A
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Wells Fargo Stable Return Fund
(b)
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8,579,383
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—
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N/A
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N/A
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12 months
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Total
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$
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28,075,364
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$
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—
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Fair Value Estimate Using Net Asset Value per Share
December 31, 2016
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Fair Value *
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Unfunded
Commitment
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Redemption
Frequency
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Other
Redemption
Restrictions
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Redemption
Notice
Period
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Northern Trust Collective S&P 500 Index Fund
(a)
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$
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10,503,903
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$
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—
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N/A
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N/A
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N/A
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Northern Trust Extended Equity Market Index Fund
(a)
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2,840,033
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—
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N/A
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N/A
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N/A
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Wells Fargo Stable Return Fund
(b)
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7,744,899
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—
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N/A
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N/A
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12 months
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Total
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$
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21,088,835
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$
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—
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*
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The fair values of the investments have been estimated using the net asset value of the investment.
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(a)
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Equity index fund strategies seek to replicate the movements of an index of a specific financial market, such as the Standard & Poor’s (S&P) 500 Index, regardless of market conditions.
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(b)
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Stable Return Fund's principal objective is to protect principal while providing a higher rate of return than shorter maturity investments, such as money market funds or certificates of deposit. Redemption notice period is for the entire share of the fund.
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4.
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INCOME TAX STATUS
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5.
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EXEMPT PARTY-IN-INTEREST TRANSACTION
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6.
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ADMINISTRATIVE EXPENSES
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7.
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PLAN TERMINATION
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(a)
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(b) Identity of issue, borrower, lessor or similar party
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(c) Description of Investment
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(d) Cost
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(e) Current Value
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AllianceBernstein
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Discovery Value Fund
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**
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$
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13,976,480
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American Funds
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Europacific Growth Fund
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**
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21,745,844
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Deutsche Asset & Wealth Management
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Real Estate Securities Fund
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**
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2,382,819
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Mainstay
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Large Cap Growth Fund
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**
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15,815,543
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Metropolitan West Funds
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Total Return Bond Fund
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**
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19,483,303
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Oakmark
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Equity and Income Fund
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**
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2,889,361
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Oppenheimer
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Developing Markets Fund
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**
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3,864,468
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MFS
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Value Fund
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**
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11,586,274
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PRIMECAP
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Odyssey Stock Fund
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**
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5,314,043
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Principal Investors
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High Yield Fund
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**
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2,168,574
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T. Rowe Price
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Retirement 2005 Fund
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**
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49,690
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T. Rowe Price
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Retirement 2010 Fund
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**
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9,027
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T. Rowe Price
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Retirement 2015 Fund
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**
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208,332
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T. Rowe Price
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Retirement 2020 Fund
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**
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830,589
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T. Rowe Price
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Retirement 2025 Fund
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**
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2,629,099
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T. Rowe Price
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Retirement 2030 Fund
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**
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6,814,316
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T. Rowe Price
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Retirement 2035 Fund
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**
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2,804,162
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T. Rowe Price
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Retirement 2040 Fund
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**
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5,711,575
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T. Rowe Price
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Retirement 2045 Fund
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**
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2,882,106
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T. Rowe Price
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Retirement 2050 Fund
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**
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1,343,809
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T. Rowe Price
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Retirement 2055 Fund
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**
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1,380,610
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T. Rowe Price
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Retirement 2060 Fund
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**
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15,697
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T. Rowe Price
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Retirement Balanced Fund
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**
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329,533
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Wells Fargo
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Advantage Discovery Fund
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**
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10,951,974
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Total mutual funds
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135,187,228
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Northern Trust
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Extended Market Equity Index Fund
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**
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4,207,447
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Northern Trust
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Collective S&P 500 Index Fund
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**
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15,288,534
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Wells Fargo
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Stable Return Fund, contract value
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**
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8,579,383
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Total collective fund trusts
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28,075,364
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*
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WEX Inc.
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WEX Inc. Common Stock Fund
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**
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3,711,242
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BlackRock
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Money Market Funds
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**
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(748,943
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*
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Various participants
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Notes receivable from Participants - maturing at various dates through December 2032 at interest rates of 3.25% - 9.50%
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**
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2,248,856
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Investments per Form 5500
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$
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168,473,747
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*
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Party-in-interest
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**
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Cost information is not required for participant-directed investments and therefore is not included.
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1 Year WEX Chart |
1 Month WEX Chart |
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