TAILIEUCHUNG - Helping Working Americans Achieve A Financially Secure Retirement How the 401(k) System Is Succeeding

These issues have brought us into contact with an expanded set of policymakers—both here and abroad. Under Dodd- Frank, established regulators like the Commodity Futures Trading Commission and new ones like the Financial Stability Oversight Council are writing rules that a ect funds and their advisers. And worldwide, policymakers are adopting a more global stance. The Institute has worked to ensure that policy- makers understand the functioning and vital role of our funds. As always, our approach has been highly substantive and constructive. At its core is ICI Research, which achieved new levels of stature and visibility in 2011 | Helping Working Americans Achieve A Financially Secure Retirement How the 401 k System Is Succeeding Ayco Summer InnerCircle Benefits and Compensation Conference July 28 2011 Saratoga Springs New York Paul Schott Stevens President and CEO INVESTMENT I y I COMPANY INSTITUTE O INVESTMENT COMPANY INSTITUTE Overview Why ICI Role of Mutual Funds in Retirement Profile of the . Retirement System Measures of 401 k Success Features That Contribute to 401 k Success Reaction of . Households to the Financial Crisis Actions of 401 k Plan Participants in the Financial Crisis JULY 28 2011 HOW THE 401 k SYSTEM IS SUCCEEDING 1 O INVESTMENT COMPANY INSTITUTE Why ICI Role of Mutual Funds in Retirement Mutual funds comprise about half of the assets in defined contribution DC plans and individual retirement accounts IRAs Mutual funds are well-suited to retirement plans Fund sponsors help employers promote and develop the 401 k system ICI has a large and active research program on retirement assets plans and participants JULY 28 2011 HOW THE 401 k SYSTEM IS SUCCEEDING

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