https://www.investors.com/etfs-and-funds/retirement/retirement-planning-401k-critics-right/
Are Critics Right? Is It Time To Dump Your 401(k) Account?
/PAUL KATZEFF 08:00 AM ET 07/13/2020
Critics, including some high-profile celebrity talking heads, are bashing 401(k) accounts. They claim 401(k)s are riddled with flaws and will burn you later. Are they right? Are you sabotaging your retirement planning by stashing money inside those popular workplace retirement savings plans?/
Put in Roth or sepira ./tdf..
We did both sep ira and tdf

https://www.sec.gov/Archives/edgar/data/99203/000110465920082874/tm2024548-1_497seq.htm
...Effective August 1, 2020, the following is added to the front page of the Prospectus:
Fund shares are presently offered for sale only to existing shareholders and to directors, officers and employees
of the Fund, the Fund’s Adviser, First Pacific Advisors, LP, and affiliated companies, and their immediate
relatives, and certain categories of shareholders.
Effective August 1, 2020, the section titled “Purchase and Sale of Fund Shares” on page 8 is replaced in its entirety with the following:
Purchase and Sale of Fund Shares
The Fund has discontinued indefinitely the sale of its shares to new investors, except existing shareholders, directors, officers and employees of the Fund, the Adviser and affiliated companies, and their immediate relatives. See the section entitled “Limited Availability to New Investors” for a description of shareholders eligible to purchase shares of the Fund. Investors may purchase or redeem Fund shares on any business day by written request, check, wire, ACH (Automated Clearing House), telephone, or through dealers as further described in this prospectus. You may conduct transactions by mail (FPA Funds, c/o UMB Fund Services, Inc., P.O. Box 2175, Milwaukee, Wisconsin 53201-2175, or 235 West Galena Street, Milwaukee, Wisconsin 53212), by wire, or by telephone at (800) 638-3060. Purchases and redemptions by telephone are only permitted if you previously established this option in your account. Eligible investors can use the Account Application for initial purchases.
Eligible investors can purchase shares by contacting any investment dealer authorized to sell the Fund’s shares. The minimum initial investment is $1,500, and each subsequent investment, which can be made directly to UMB Fund Services, Inc., must be at least $100. However, as described herein, no minimum investment amount is imposed for subsequent investments in retirement plans. All purchases made by check should be in U.S. dollars and made payable to the FPA Funds. Third party, starter or counter checks will not be accepted. A charge may be imposed if a check does not clear. The Fund reserves the right to waive or lower purchase and investment minimums in certain circumstances. For example, the minimums listed above may be waived or lowered for investors who are customers of certain financial intermediaries that hold the Fund’s shares in certain omnibus accounts, at the discretion of the officers of the Fund. In addition, financial intermediaries may impose their own minimum investment and subsequent purchase amounts.
Subsequent investments and redemptions can be made directly to UMB Fund Services, Inc.
Effective August 1, 2020, the following is added at the beginning of the section titled “Investing with the Fund” on page 23:
LIMITED AVAILABILITY TO NEW INVESTORS
The availability of shares of the Fund to new investors is limited. The Fund has discontinued indefinitely the sale of its shares to new investors, except existing shareholders, directors, officers and employees of the Fund, the Adviser and affiliated companies, and their immediate relatives. Affiliated companies include: current and former directors, officers and employees of the Adviser (and its predecessor firm and such predecessor firm’s parent firms) and its affiliates; current and former directors of, and partners and employees of legal counsel to, the investment companies advised by the Adviser; investment advisory clients of the Adviser and consultants to such clients and their directors, officers and employees; employees (including registered representatives) of a dealer that has a selling group agreement with UMB Distribution Services, LLC and consents to the purchases; any employee benefit plan maintained for the benefit of such qualified investors; directors, officers and employees of a company whose employee benefit plan holds shares of one or more of the FPA Funds; and directors, officers and employees of the Fund’s custodian and transfer agent.
In addition, the Fund will allow new investors to purchase shares if they fall into one of the following categories:
1. Clients of an institutional consultant, a financial advisor, a financial planner, or an affiliate of a financial advisor or financial planner, who has client assets invested with the Fund or the Adviser at the time of the investor’s application;
2. Investors purchasing Fund shares through a sponsored fee-based program where shares of the Fund are made available to that program pursuant to an agreement with FPA Funds or UMB Distribution Services, LLC, and FPA Funds or UMB Distribution Services, LLC has notified the sponsor of that program, in writing, that shares may be offered through such program and has not withdrawn that notification;
3. Investors transferring or “rolling over” into a Fund IRA from an employee benefit plan through which the investor held shares of the Fund (if an investor’s plan doesn’t qualify for rollovers an investor may still open a new account with all or part of the proceeds of a distribution from the plan);
4. Investors that are an employee benefit plan or other type of corporate or charitable account sponsored by or affiliated with an organization that also sponsors or is affiliated with (or is related to an organization that sponsors or is affiliated with) another employee benefit plan or corporate or charitable account that is a shareholder of the Fund; or
5. Investors participating in an employee benefit plan that is already a Fund shareholder.
The Fund may ask you to verify that you meet one of the categories above prior to permitting you to open a new account in the Fund. The Fund may permit you to open a new account if the Fund reasonably believes that you are eligible. The Fund also may decline to permit you to open a new account if the Fund believes that doing so would be in the best interests of the Fund and its shareholders, even if you would be eligible to open a new account under these guidelines.
The Fund’s ability to impose the guidelines above with respect to accounts held by financial intermediaries may vary depending on the systems capabilities of those intermediaries, applicable contractual and legal restrictions and cooperation of those intermediaries.
The Fund continues to reinvest dividends and capital gain distributions with respect to the accounts of existing shareholders who elect such options.
The Fund may recommence at any time the offering of shares to all investors if the Board of Directors believes it would be in the best interests of the Fund and its shareholders.
Federal regulations may require the Fund to obtain your name, your date of birth (for a natural person), your residential street address or principal place of business and your Social Security Number, Employer Identification Number or other government issued identification when you open an account. Additional information may be required in certain circumstances or to open accounts for corporations or other entities, and certain information regarding beneficial ownership will be verified, including information about beneficial owners of such entities. The Fund may use this information to attempt to verify your identity and, for legal entities, the identity of beneficial owners. The Fund may not be able to establish an account if the necessary information is not received. The Fund may also place limits on account transactions while it is in the process of attempting to verify your identity and, for legal entities, the identity of beneficial owners. Additionally, if the Fund is unable to verify the identity of you or your beneficial owners after your account is established, the Fund, the Fund's distributor and the Fund's transfer agent each reserve the right to reject further purchase orders from you or to take such other action as they deem reasonable or required by law, including closing your account. If your account is closed for this reason, your shares will be redeemed at the NAV next calculated on the date your account is closed, and you bear the risk of loss.
Effective August 1, 2020, the section titled “How to Buy Fund Shares” on page 25 of the Prospectus is hereby deleted in its entirety.
PLEASE RETAIN FOR FUTURE REFERENCE.
FPA New Income, Inc. (FPNIX)
Supplement dated July 13, 2020 to the
Statement of Additional Information dated January 31, 2020
This Supplement amends information in the Statement of Additional Information (the “SAI”) for the FPA New Income, Inc. (the “Fund”), dated January 31, 2020. You should retain this Supplement and the Prospectus for future reference. Additional copies of the SAI may be obtained free of charge by visiting our web site at www.fpa.com or calling us at (800) 638-3060.
Effective August 1, 2020, on page 50 of the SAI, the following language is added to the section titled “Purchase, Redemption and Pricing of Shares”:
Limited Availability to New Investors. The availability of shares of the Fund to new investors is limited. See the section titled, “Limited Availability to New Investors” in the Prospectus for a complete description of categories of shareholders eligible to purchase shares of the Fund.
The Fund continues to accept additional investments from existing shareholders, and continues to reinvest dividends and capital gain distributions with respect to the accounts of existing shareholders who elect such options.
The Fund may recommence at any time the offering of shares to all investors if the Board of Directors believes it would be in the best interests of the Fund and its shareholders.
PLEASE RETAIN FOR FUTURE REFERENCE.

@MSF From the M* article:

For example, ESG investors obviously expect the third part of their acronym, governance, to improve their portfolios’ performance. Their environmental and social concerns less clearly reflect self-interest, but ESG managers maintain that environmental and social concerns pose material risks that investors must consider, and that companies that manage such risks well will make their businesses more sustainable.

To which I reply horses--t. A livable planet is in everybody's self-interest, rightwing political propaganda notwithstanding. Climate change is real and it's coming for our portfolios--and our lives. Ostensibly retirement plans are supposed to be the ultimate long-term investors, investing for the entirety of their employees' careers. A 22-year old employee today can look for being in 401ks of various companies for some 43 years from today, during which climate change will have a significant impact on his/her portfolio. Saying otherwise is sticking one's head in the sand.

Thx found this article on email. Don't remember if its posted
Best trow funds for retirement
https://money.usnews.com/investing/funds/slideshows/best-t-rowe-price-funds-for-retirement

Old_Skeet, your method is good but has lots of moving parts. Just an observation, not criticism :-)
A typical rebalance achieves similar results when stock prices go down and you keep switching from bonds to stocks to keep the same asset allocation. That is a good way until a black swan shows up and every time you buy more stocks on the way down you keep losing more.
The question of timing occupied my brain for many years.
I always want to be fully invested as long as I can. In the last 10-11 years, I was in cash for about 12 weeks, which means I was fully invested 98% of the time.
Until 2008-9, when I was younger with a much smaller portfolio. I just stayed the course because my fund managers (SGENX,OAKBX,FAIRX) played it right. After I lost 25% in 2008 I decided that the only way not to lose is to set up a simple selling %.
From 2009 and for the next several years, I would sell any stock fund I owned if it lost more than 6% and bought a bond fund. I would sell any bond fund that lost over 3% and searched for another more conservative fund. If I could not find any bond fund then I would go to cash.
When stocks bottomed and rebounded, I only increased stocks using a pyramid up. That means that every time I buy more stock mutual fund the price must be higher than the previous one,
In 2018 at retirement, I made my selling criteria stricter. I only trade stocks short term (hours to days) using charts. I used bond funds most times. Any bond fund I own that loses more than 1% I sell and then I look for a better bond fund, if I can't find any I go to cash.
BTW, the above is probably too complicated. Stay fully invested and buy and hold is a good way for most investors :-)

Another retirement option, 2 funds listed here:
VTI & VCSH
two-vanguard-index-funds-you-need-for-retirement.html

8 Best Vanguard ETFs for Retirees
https://money.usnews.com/investing/funds/slideshows/8-best-vanguard-etfs-for-retirees
Considet simplify your retirement investing with these low-fee Vanguard exchange-traded funds.
Vanguard Total Stock Market ETF (VTI)
Vanguard Short-Term Inflation-Protected Securities ETF (VTIP)
Vanguard Total International Stock ETF (VXUS)
Vanguard FTSE Social Index Fund Admiral Shares (VFTAX)
Vanguard Total World Bond ETF (BNDW)
Vanguard Dividend Appreciation ETF (VIG)
Vanguard Real Estate ETF (VNQ)
Vanguard Tax-Exempt Bond ETF (VTEB)

TRP has been doing this in most of its asset allocation and retirement funds for a few years now. They're doing more barbelling than timing the market as they give you both long treasuries and short TIPs with mild adjustments in allocation.
PRWCX goes in-and-out, i.e. market times. I've seen them do this twice in the last 10 years, buying with good timing but selling too soon.
Price's fund, TRULX, gets a lot of its money from the allocation/retirement funds. Its AUM is not too different from when I bought it 1-1/2 years ago. I wonder if this stabilizes it from the rush inflow situation.

No one knows how long QE Infinity might endure. Biden is proposing a fiscal policy alternative to Cimmamond's MCD solution that could help to offset some of QE Infinity's destructive and destabilizing effects.

Seen in its full breadth and scope, the Biden tax plan is a progressive tour de force. Biden would fund his poverty-fighting education, housing, retirement and health-care reforms with $4.3 trillion of tax hikes on the rich.
Biden’s proposals are populist in the true sense of the term. The Tax Policy Center has found that three-quarters of his tax increases fall on the richest 1% of households. In 2021, Biden would raise this group’s taxes by $299,000.

https://marketwatch.com/story/liberals-arent-giving-joe-biden-credit-for-a-radical-tax-plan-that-goes-after-the-indolent-rich-2020-07-02

https://m.washingtontimes.com/news/2020/jun/27/investors-that-stick-with-stocks-will-be-rewarded-/
Investors that stick with stocks will be rewarded illustration by The Washington Times
By Peter Morici - - Saturday, June 27, 2020:
The challenges imposed by social distancing in businesses and telecommuting leave little doubt the economy will be radically different going forward, but for ordinary investors — saving for retirement and college tuition — stocks remain the cornerstone of a sound strategy.

Please don't misunderstand me. I like the idea of reverse mortgages if obtained at reasonable cost and rates for a well defined purpose, as I wrote above. They have gotten a somewhat undeserved bad rap, and they've been improved significantly. They're likely superior for a variety of well defined purposes.
But @bee raised HECMs as a great way to hedge sequence of return risk. For that particular well defined purpose, they may not be the better product. ("Hedge" = "insurance" or "protection".)
Sequence of return risk is the risk that one's decumulation (spend down/retirement) phase may begin during a market downturn. It's not a risk of ever having a market correction. So a hedge against this risk is protection that's needed during the first few years of retirement. This has a few implications:
1. Sequence of return risk is not concerned with what happens after, say, 10 years. So it doesn't matter that a HELOC only enables you to draw against your line of credit for 10 years. Like term life, that's the period that you're "insuring".
2. Since you're only "insuring" for a relatively short period (say, 1/3 of your anticipated retirement period), the fixed (up front) costs of the line of credit weigh more heavily. They are amortized over just a few years, as contrasted with closing costs on a traditional 30 year mortgage. (They also weigh more heavily because you pay these fees even if you never need to draw upon the line of credit.)
3. The amount of protection you need is capped by your anticipated expenses over the first few years of retirement. So the fact that a reverse mortgage credit line grows doesn't matter. (The fact that it might shrink with a HELOC does matter, however.)
4. Since this "insurance" is needed at the point of retirement, one might be able to apply for the line of credit shortly before retirement, thus making it easier to qualify for a HELOC.
In a sense, the whole question of how easy it is to get a HELOC is irrelevant to the question of which one is better. If you cannot get a HELOC then there is no choice to be made.
Permit a metacomment here: I've been fastidious in citing objective third party sources: the FTC, HUD, the CFPB. Pages from provider products can be informative and accurate, but still incomplete. This is something to watch for not just in this thread, but generally.
The Reverse.Mortgage page purports to be presenting information on reverse mortgages generally. But then it quietly slides into features that apply only to HECMs, such as being federally insured. You have to flip to another page to find out that this feature costs 2% of the total line of credit up front, plus 0.5% of the outstanding balance annually.
The comparison chart says that HELOCs become due (balloon payment) after ten years. Some do. But the chart is deceptive here. The Fed writes: "Many existing HELOCs are structured such that when they reach the end of the draw period, they convert from open-ended, non-amortizing lines of credit to closed-end, amortizing loans."
What is best depends on your intended purpose (including risk tolerance) and the terms (including special features) offered.

Can’t get over the fascination with “income” in an extremely low rate environment where U.S. government AAA paper is yielding practically nothing (0.65% this morning on a 10-year bond). Let’s go out a bit on the credit spectrum and assume maybe 2% on a top tier cooperate bond. If you expect those returns to put food on your table over time - best plan to plant a garden.
Don’t get me wrong. More highly speculative bonds can be held or “played”, along with income producing equities, as part of a broader plan, but the income thrown off from those isn’t the “Steady Eddy” guaranteed stream from month-to-month most would desire or expect in an income generating vehicle. Expect dry spells along the way if going lower down on the credit ladder.
What seems clear (to me anyway) is the importance of diversifying into an assortment of asset classes, which working together can produce more or less reliable capital appreciation over time. There will be dry spells of course. Think like the major hydro-electric players do and build in some “peak demand reservoirs” you can open the spickets on during those dry times, draw down, and than turn the spickets back off and let the reserve slowly build back up to full capacity during better times. Some use cash as that reserve. But it needn’t have to be cash.
Think of portfolio construction as: low risk (relatively stable) components, moderate risk components, value-based components, and growth / speculative components. The latter two will stand you well when the flood gates are wide open and the waters sre surging. David is intending to review TMSRX in the July Commentary . Before going “hog-wild” loading up on income funds that return pennies on the dollar, take a look at that one to see where might fit in. I wouldn’t buy an old favorite TRRIX right now, but there’s a fund that originally was named “Retirement Income Fund” (despite maintaining a 40% equity allocation) - just to show you how the definition and approach to income generation may be expanded.
Added : Reverse mortgages as an income stream? I guess. But it would be hard to call one “income generating” since in essence you’re “Robbing Peter to Pay Paul“. Net-Net the lender gains and the borrower ends up with little or no home equity. To me, home equity is an asset just like a stock, bond, ounce of gold, mutual fund, etc. Don’t misunderstand me. For some people they may make sense. Just questioning how they’re apparently being viewed here.

95% of advisors we discussed our plans with several months ago [fidelity, vanguard. schwab] strongly recommended heavy stocks/MF based-stocks portfolio, unless you are near retirement.

"But, but, but, the Fed and a "V" shaped recovery could make the bad things turn invisible, just like magic."
"Investor enthusiasm is pinned to two ideas. First, are hopes for a "V" shaped recovery in the economy as championed by Morgan Stanley (MS). Second, is a belief that the Federal Reserve has as much magic monetary potion as needed to pump up stocks despite all-time over-valuations.
.... investors must be very wary of high unemployment. As the unemployed begin to fall behind on bills, they are apt to turn to cashing in their retirement plans, which in turn leads to forced selling of stocks. Economic indicators are flashing red alert danger signals. Investor Will Robinson does not seem to care."
"Morgan Stanley is leading the charge for a "V" shaped economic recovery. Multiple billionaire investors, major business owners and corporate executives say otherwise."
Choose your poison thoughtfully.

@bee: Corrected Pfau link
While I'm generally a fan ofr Dr. Pfau, ISTM he skipped over some details and created some misimpressions. The first is that he appears to use HECM and "reverse mortgage" synonymously. Rather, an HECM is but one of three types of reverse mortgages. Being the most common type, and the one backed by HUD and providing some government protections, it is the type I'd likely look at first. But different types do exist, with different benefits, costs, and risks.
https://www.consumer.ftc.gov/articles/0192-reverse-mortgages#types
"With a HECM, the home title is never turned over to the bank." Okay, but so what? One has the same risk of foreclosure regardless of who holds the title. When you buy a home, do you care whether you take out a mortgage (where you keep title), or you borrow the money using a deed of trust (where the trust gets legal title)? While foreclosure procedures differ, you're still subject to foreclosure either way.
https://www.lendingtree.com/home/mortgage/deed-of-trust-vs-mortgage/
FWIW, here's what the FTC says about title: "In a reverse mortgage, you keep the title to your home. That means you are responsible for property taxes, insurance, utilities, fuel, maintenance, and other expenses." Of course you'd expect that in any case.
https://www.consumer.ftc.gov/articles/0192-reverse-mortgages#how
"They need to have full equity in the home; there can’t be any other lien on the property." HUD begs to differ on HECMs: "You must ... Own the property outright or paid-down a considerable amount"
https://www.hud.gov/program_offices/housing/sfh/hecm/hecmabou
Dr Pfau gives four different approaches to managing sequence of return risk (I've cited this before). One is to use a cash buffer.. He describes three different ways of implementing that approach, one of which is to use a reverse mortgage line of credit. What I haven't seen him discuss (perhaps I have not looked hard enough) is why he advocates using a HECM over other types of reverse mortgages, let alone other types of credit.
ISTM that if you're looking at this for use as a cash buffer - a line of credit for a temporary loan that you might never call upon - a HELOC with lower up front costs could have lower total costs. OTOH, if you're thinking of using a reverse mortgage for something else, then you might still expand your search beyond HECMs. The FTC writes:

If you’re considering a reverse mortgage, shop around. Decide which type of reverse mortgage might be right for you. That might depend on what you want to do with the money.

https://www.consumer.ftc.gov/articles/0192-reverse-mortgages#shopping.
Dr. Pfau mentions using reverse mortgages as a SS bridge (to delay benefits). A 2017 "CFPB report found, in general, the costs and risks of taking out a reverse mortgage exceed the cumulative increase in Social Security lifetime benefits that homeowners would receive by delayed claiming."
https://www.consumerfinance.gov/about-us/newsroom/cfpb-report-warns-taking-out-reverse-mortgage-loan-can-be-expensive-way-maximize-social-security-benefits/
Finally, the "gotcha" that concerns me with reverse mortgages (and I like the idea of reverse mortgages if obtained at reasonable cost and rates for a well defined purpose), is that you have to pay the money back when you move. How do you buy a new home if you have spent down your equity? It looks like there is a risk of being locked into your home for life, because you won't have enough equity left to move anywhere else.
Consumer Financial Protection Bureau: What happens if I have a reverse mortgage [HECM] and I want to sell my home?
https://www.consumerfinance.gov/ask-cfpb/what-happens-if-i-have-reverse-mortgage-and-i-want-sell-my-home-en-2095/
HECM risks and disadvantages (citing CFPB): https://www.elderoptionsoftexas.com/article-reverse-mortgage-pros-and-cons.htm

@Rbrt, A reverse mortgage is on my "things to do list" for my 62 birthday (earliest age). Instead of using it as a tenure payment I plan on letting the equity glide path value grow. Establishing an HECM is great way to hedge inflation risk and sequence of return risk amoung other risks. Wade Pfau is a bit better than Tom Selleck on the subject.
use-reverse-mortgages-secure-retirement

Minimum waived for I Classes offered through Workplace Retirement plans.
Stay Safe, Derf

https://www.forbes.com/sites/stevevernon/2020/06/19/learn-about-the-many-types-of-retirement-income-generators/#3e69b1e48a52
Learn About The Many Types Of Retirement Income Generators
There are many types of retirement income generators (RIGs) that each produce different amounts of retirement income. My Retirement Income Scorecard compares the amounts of retirement income that are possible for 10 different RIGs, which is one consideration for choosing a RIG or combination of RIGs to build your retirement income portfolio.
Social securities
Fixed incomes products
RMD from 401k
Annuities
Bond and bond funds

Creating Portfolios That Are ‘Not for the Faint of Heart’
https://www.nytimes.com/2020/06/20/business/retirement-portfolios.html
https://www.google.com/search?q=Creating+Portfolios+That+Are+‘Not+for+the+Faint+of+Heart’&sourceid=chrome-mobile&ie=UTF-8
Savers who want to build their nest eggs without relying solely on the stock market have other options. The pandemic is testing their skills.
Couple of good ideas mentioned for investing
Gold
Private real estates
reits

https://www.sec.gov/Archives/edgar/data/1413594/000110465920074561/a20-22854_2497.htm
497 1 a20-22854_2497.htm 497
ABERDEEN FUNDS
Aberdeen Diversified Alternatives Fund
Supplement dated June 18, 2020 to the Summary Prospectus, Prospectus and Statement of Additional Information dated February 28, 2020, as supplemented to date
On June 17, 2020, the Board of Trustees of Aberdeen Funds (the “Trust”) approved a Plan of Liquidation for the Aberdeen Diversified Alternatives Fund (the “Fund”) pursuant to which the Fund will be liquidated (the “Liquidation”) on or about August 17, 2020 (the “Liquidation Date”). Shareholder approval of the Liquidation is not required.
Suspension of Sales. Effective after market close on June 19, 2020, shares of the Fund will no longer be available for purchase by investors with the exception of: (1) existing shareholders (including shares acquired through the reinvestment of dividends and distributions); (2) employer sponsored retirement plans; or (3) fee-based programs sponsored by financial intermediaries that have selected the Fund prior to market close on June 19, 2020. Effective after market close on July 31, 2020, the Fund will be closed to all investments except shares acquired through the reinvestment of dividends and distributions.
Liquidation of Assets. The Fund will depart from its stated investment objective and policies as it liquidates holdings in preparation for the distribution of assets to investors. During this time, the Fund may hold more cash, cash equivalents or other short-term investments than normal, which may prevent the Fund from meeting its stated investment objective. On the Liquidation Date, the Fund will liquidate and distribute pro rata to the shareholders of record as of the close of business on the Liquidation Date such shareholders’ proportionate interest in all of the remaining assets of the Fund in complete cancellation and redemption of all the outstanding shares of the Fund. See “IMPORTANT INFORMATION FOR QUALIFIED ACCOUNT HOLDERS” below if you are a qualified account holder. Contingent deferred sales charges will be waived in connection with any redemptions prior to the Liquidation Date. The Fund’s investment adviser, Aberdeen Standard Investments Inc., will bear all expenses of the Liquidation to the extent such expenses are not part of the Fund’s normal and customary fees and operating expenses; however, the Fund and its shareholders will bear transaction costs and tax consequences associated with turnover of the Fund’s portfolio in anticipation of the Liquidation.
Alternatives. At any time prior to the Liquidation Date, the Fund’s shareholders may redeem all or a portion of their shares or exchange their Fund shares for shares in the corresponding class of another series of the Trust pursuant to procedures set forth in the Trust’s Prospectus. If you wish to exchange your shares of the Fund into another series of the Trust, or would like to request additional copies of the Prospectus and Statement of Additional Information for the Trust, please call Aberdeen Funds Shareholder Services at 866-667-9231.
Holders through Financial Intermediaries. If you are invested in the Fund through a financial intermediary, please contact that financial intermediary if you have any questions. If you are invested in a tax qualified account, please see important additional information below.
Income Tax Matters. The liquidation of the Fund, like any redemption of Fund shares, will constitute a sale upon which a gain or loss may be recognized for state and federal income tax purposes, depending on the type of account and the adjusted cost basis of the investor’s shares. Please contact your tax advisor to discuss the tax consequences to you of the Liquidation.
IMPORTANT INFORMATION FOR QUALIFIED ACCOUNT HOLDERS
Fund Direct IRA Accounts
Fund Direct IRA accounts are those created for investment in the series of the Trust for which UMB Bank N.A. acts as custodian. Unless a shareholder, or other financial intermediary on behalf of such shareholder, provides instructions otherwise, Fund shares held on the Liquidation Date in Fund Direct IRAs will be redeemed in cash and the proceeds sent directly to the beneficiary of the account, which may result in the imposition of tax penalties.
If you wish to avoid tax penalties that may be imposed if your Fund shares are liquidated, you must contact your financial intermediary or Aberdeen Funds Shareholder Services at 866-667-9231 before the close of business on August 14, 2020 in order to exchange your shares for those of another series of the Trust. If you have any questions about your individual tax situation, please contact your tax advisor or financial intermediary. If you wish to exchange your shares into another series of the Trust, or would like to request additional copies of the Prospectus and Statement of Additional Information for the Trust, please call Aberdeen Funds Shareholder Services at 866-667-9231.
Non-Fund Direct Traditional IRAs, Roth IRAs, SIMPLE, SEP, or SARSEP IRA and 403(b) Custodial Accounts (“Non-Fund Direct Retirement Accounts”)
If you are invested in the Fund through a Non-Fund Direct Retirement Account and Aberdeen Funds Shareholder Services does not receive instructions from you or the account trustee or custodian prior to close of business on August 14, 2020, the Fund will send a liquidating distribution to the trustee/custodian for the benefit of your account, which the trustee/custodian will process according to its own policies and procedures.
401(k), Pension and Profit Sharing Plans and other Tax-qualified Retirement Plans (“Retirement Plans”)
If you are invested in the Fund through a Retirement Plan, and Aberdeen Funds Shareholder Services does not receive instructions from you or the Retirement Plan administrator or other plan fiduciary prior to close of business on August 14, 2020, the Fund will send a liquidating distribution to the Retirement Plan, which the Retirement Plan will process according to its own policies and procedures.
The pending liquidation of the Fund may be terminated and/or abandoned at any time before the Liquidation Date by action of the Board of Trustees of the Trust.
Please retain this Supplement for future reference.