FeeDisclosureDocument 2018

Notice of Investment Returns & Fee Comparison 351366-01 Merritt Management Corporation 401(k) Plan empowermyretirement.com Your employer-sponsored retirement savings plan allows eligible employees to invest for their retirement. These plans can be valuable in helping participants reach their retirement savings goals. The goal is to build your account through additional contributions and investment returns in your plan. Fees and expenses related to your plan can affect the overall long-term value of your account. The investment options you choose also affect your account. It is important for you to have a clear understanding of the investment options available through your plan and the fees and expenses that are part of your plan. This notice includes information to help you understand plan costs and compare your retirement plan's investment options. It was designed to meet the participant fee disclosure regulations of the United States Department of Labor (DOL). For more information on the plan's investment options including investment objectives or goals, principal strategies and risks, portfolio turnover rate, current returns and expenses, please visit the Participant website listed above. This website also includes educational information and tools designed to help you with making investment decisions. Additional information on the plan's investment options is also available on the Participant website which may include prospectuses or similar documents and fund reports to the extent applicable and fund share/unit valuations. Paper copies of the investment related information available on the Participant website can be obtained at no cost by contacting Empower Retirement at: Empower Retirement

P.O. Box 173764 Denver, CO 80217-3764 Participant Call Center: 1-888-365-2926

Document Summary

SECTION

Investment Rate of Return and Expense Information - Shows investment return information for your plan's investment options. It shows past performance, investment management expenses and General Administrative Services Expenses. Other Investment-Related Fees, Expense Information and Transfer Restrictions - Shows any fees and expenses that are in addition to the investment management expenses in Section 1. This section also shows any investment restrictions. Plan-Related Information - Shows Plan-Related information and Participant Elected Services Expenses. 1 – Investment Rate of Return and Expense Information

1

2

3

Variable Rate of Return Investments Table This table looks at the rates of return from investments that increase and decrease in value. The table shows how these investments have performed over time. You can compare each investment option to a benchmark. Past performance does not guarantee how the investment option will perform in the future. Your investment in these options could lose money. Information about an investment option’s principal risks is available on the Web site listed above. Variable Return Investments Averaged Annualized Total Return as of 03/31/2018

Gross/Net Investment Expenses~

Investment Option

Ticker 3 mos YTD 1 year 3 year 5 year Since Start

Date/10yr Start Date

Asset Allocation

7.73%

0.63%/0.42%

T. Rowe Price Retirement Balanced I 1,2

TRPTX -0.22% -0.22% 6.62% N/A N/A $77.30 per $1,000

09/29/2015 $6.30 per $1,000 Gross

*

S&P Target Risk Conservative TR USD**

-0.82% -0.82% 5.90% N/A N/A

09/29/2015

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Gross/Net Investment Expenses~ 0.52%/0.49%

Investment Option

Ticker 3 mos YTD 1 year 3 year 5 year Since Start

Date/10yr Start Date

11.16%

T. Rowe Price I 2020 I 1,2

TRBRX -0.08% -0.08% 10.28% N/A N/A

09/29/2015 $5.20 per $1,000 Gross

$111.60 per $1,000

*

-0.92% -0.92% 7.80% N/A N/A

09/29/2015

S&P Target Date 2020 TR USD**

8.59%

0.55%/0.42%

T. Rowe Price Retirement I 2010 I 1,2

TRPAX -0.43% -0.43% 7.36% N/A N/A $85.90 per $1,000

09/29/2015 $5.50 per $1,000 Gross

*

-0.87% -0.87% 6.09% N/A N/A

09/29/2015

S&P Target Date 2010 TR USD**

13.32%

0.58%/0.55%

T. Rowe Price Retirement I 2030 I 1,2

TRPCX 0.23% 0.23% 12.89% N/A N/A

09/29/2015 $5.80 per $1,000 Gross

$133.20 per $1,000

*

-0.95% -0.95% 10.19% N/A N/A

09/29/2015

S&P Target Date 2030 TR USD**

14.78%

0.62%/0.59%

T. Rowe Price Retirement I 2040 I 1,2

TRPDX 0.38% 0.38% 14.69% N/A N/A

09/29/2015 $6.20 per $1,000 Gross

$147.80 per $1,000

*

-0.94% -0.94% 12.07% N/A N/A

09/29/2015

S&P Target Date 2040 TR USD**

14.98%

0.66%/0.60%

T. Rowe Price Retirement I 2050 I 1,2 TRPMX 0.45% 0.45% 15.10% N/A N/A

09/29/2015 $6.60 per $1,000 Gross

$149.80 per $1,000

*

-0.94% -0.94% 12.83% N/A N/A

09/29/2015

S&P Target Date 2050 TR USD**

Fixed

2.07%

0.57%/0.57%

Wells Fargo Stable Return Fund C 1

N/A 0.46% 0.46% 1.73% 1.56% 1.46% $20.70 per $1,000

10/01/1985 $5.72 per $1,000 Gross

1.56%

-0.20% -0.20% 0.24% 0.66% 0.76% $15.60 per $1,000

10/01/1985

Bloomberg Barclays US Government/Credit **

Bond

6.45%

0.63%/0.63%

Loomis Sayles Strategic Income N 2 NEZNX 0.63% 0.63% 4.79% 3.08% 4.44% $64.50 per $1,000

02/01/2013 $6.30 per $1,000 Gross

4.01%

-1.41% -1.41% 1.52% 1.73% 2.19% $40.10 per $1,000

02/01/2013

Bloomberg Barclays US Universal TR USD**

5.26%

0.38%/0.38%

Metropolitan West Total Return Bond Plan 1,2

MWTSX -1.30% -1.30% 1.18% 1.18% 2.07% $52.60 per $1,000

07/29/2011 $3.80 per $1,000 Gross

3.75%

-1.53% -1.53% 1.20% 1.34% 1.95% $37.50 per $1,000

07/29/2011

Morningstar US Core Bond TR USD**

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Gross/Net Investment Expenses~

Investment Option

Ticker 3 mos YTD 1 year 3 year 5 year Since Start

Date/10yr Start Date

Balanced

7.19%

0.29%/0.29%

American Funds Income Fund of America R6 1

RIDGX -1.89% -1.89% 7.51% 6.53% 8.10% $71.90 per $1,000

12/01/1973 $2.90 per $1,000 Gross

5.74%

-0.64% -0.64% 10.09% 6.06% 7.38% $57.40 per $1,000

12/01/1973

S&P Target Risk Growth TR USD**

Large Cap

9.13%

0.30%/0.30%

American Funds Washington Mutual R6 1

RWMGX -1.33% -1.33% 13.90% 10.53% 12.75% $91.30 per $1,000

07/31/1952 $3.00 per $1,000 Gross

6.77%

-3.13% -3.13% 8.76% 9.85% 10.69% $67.70 per $1,000

07/31/1952

Morningstar US Large Value TR USD**

11.76%

0.90%/0.86%

Oakmark Investor 2

OAKMX -0.88% -0.88% 15.34% 11.14% 13.78% $117.60 per $1,000

08/05/1991 $9.00 per $1,000 Gross

9.38%

-0.67% -0.67% 14.70% 11.04% 13.39% $93.80 per $1,000

08/05/1991

Morningstar US Large Cap TR USD**

9.34%

0.51%/0.51%

T. Rowe Price Dividend Growth I 1,2

PDGIX -0.71% -0.71% 12.97% 10.06% 12.45% $93.40 per $1,000

12/17/2015 $5.10 per $1,000 Gross

9.38%

-0.67% -0.67% 14.70% 11.04% 13.39% $93.80 per $1,000

12/17/2015

Morningstar US Large Cap TR USD**

11.92%

0.52%/0.52%

T. Rowe Price Growth Stock I 1,2

PRUFX 3.86% 3.86% 25.04% 13.89% 17.11% $119.20 per $1,000

08/28/2015 $5.20 per $1,000 Gross

11.36%

4.98% 4.98% 26.12% 12.90% 16.34% $113.60 per $1,000

08/28/2015

Morningstar US Large Growth TR USD**

9.74%

0.04%/0.04% $.40 per $1,000 Gross

Vanguard Total Stock Mrk Index - Admiral 1,2

VTSAX -0.60% -0.60% 13.85% 10.20% 13.02% $97.40 per $1,000

11/13/2000

9.38%

-0.67% -0.67% 14.70% 11.04% 13.39% $93.80 per $1,000

11/13/2000

Morningstar US Large Cap TR USD**

Mid Cap

11.29%

0.66%/0.61%

American Century Mid Cap Value R6 1,2

AMDVX -2.18% -2.18% 5.88% 9.47% 12.67% $112.90 per $1,000

07/26/2013 $6.60 per $1,000 Gross

10.97%

-1.62% -1.62% 7.68% 10.09% 13.22% $109.70 per $1,000

07/26/2013

Morningstar US Mid Value TR USD**

11.37%

0.69%/0.69%

Carillon Eagle Mid Cap Growth R6 2 HRAUX 4.45% 4.45% 25.24% 11.58% 15.44% $113.70 per $1,000

08/15/2011 $6.90 per $1,000 Gross

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Gross/Net Investment Expenses~

Investment Option

Ticker 3 mos YTD 1 year 3 year 5 year Since Start

Date/10yr Start Date

10.92%

-2.04% -2.04% 10.48% 7.63% 12.09% $109.20 per $1,000

08/15/2011

Morningstar US Mid Core TR USD**

10.14%

0.06%/0.06% $.60 per $1,000 Gross

Vanguard Mid Cap Index Adm 1,2

VIMAX 0.01% 0.01% 12.31% 7.86% 12.26% $101.40 per $1,000

11/12/2001

10.61%

-0.11% -0.11% 12.94% 8.77% 12.71% $106.10 per $1,000

11/12/2001

Morningstar US Mid Cap TR USD**

Small Cap

11.71%

0.98%/0.98%

Fidelity Advisor Small Cap Value I 2

FCVIX -1.33% -1.33% 10.65% 8.98% 10.65% $117.10 per $1,000

11/03/2004 $9.80 per $1,000 Gross

10.26%

-5.18% -5.18% 1.30% 5.47% 9.34% $102.60 per $1,000

11/03/2004

Morningstar US Small Value TR USD**

11.58%

0.95%/0.95%

Loomis Sayles Small Cap Growth Instl 2

LSSIX 4.76% 4.76% 22.92% 10.15% 13.24% $115.80 per $1,000

12/31/1996 $9.50 per $1,000 Gross

10.94%

3.41% 3.41% 21.02% 9.49% 12.76% $109.40 per $1,000

12/31/1996

Morningstar US Small Growth TR USD**

10.72%

0.06%/0.06% $.60 per $1,000 Gross

Vanguard Small Cap Index Fund - Admiral 1,2

VSMAX -0.21% -0.21% 11.82% 8.06% 11.66% $107.20 per $1,000

11/13/2000

10.42%

-1.58% -1.58% 9.76% 7.45% 11.01% $104.20 per $1,000

11/13/2000

Morningstar US Small Cap TR USD**

International

6.25%

0.45%/0.45%

American Funds Capital World G/I R6 1

RWIGX 0.43% 0.43% 16.85% 8.63% 10.08% $62.50 per $1,000

03/26/1993 $4.50 per $1,000 Gross

4.01%

-0.94% -0.94% 17.45% 8.10% 7.26% $40.10 per $1,000

03/26/1993

Morningstar Global Markets ex-US GR USD**

4.90%

0.50%/0.50%

American Funds EuroPacific Gr R6 1 RERGX 1.04% 1.04% 21.17% 7.93% 8.80% $49.00 per $1,000

04/16/1984 $5.00 per $1,000 Gross

4.01%

-0.94% -0.94% 17.45% 8.10% 7.26% $40.10 per $1,000

04/16/1984

Morningstar Global Markets ex-US GR USD**

3.49%

0.74%/0.65%

Templeton Foreign R6 2

FTFGX -3.15% -3.15% 5.95% 4.48% 6.15% $34.90 per $1,000

05/01/2013 $7.40 per $1,000 Gross

4.01%

-0.94% -0.94% 17.45% 8.10% 7.26% $40.10 per $1,000

05/01/2013

Morningstar Global Markets ex-US GR USD**

5.99%

1.32%/1.19%

Thornburg Investment Income Builder R5 2

TIBMX -2.37% -2.37% 8.21% 4.11% 5.74% $59.90 per $1,000

02/01/2007 $13.20 per $1,000 Gross

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Gross/Net Investment Expenses~

Investment Option

Ticker 3 mos YTD 1 year 3 year 5 year Since Start

Date/10yr Start Date

9.65%

-0.76% -0.76% 13.69% 10.48% 13.13% $96.50 per $1,000

02/01/2007

Wilshire 5000 Total Market TR USD**

Please note that if an investment option has not been in existence for 10 years, a "Since Start/Inception Date" return will be displayed. If the investment option has been in existence for 10 years or more, a "10-Year" return will be displayed. Returns shown for the

corresponding benchmark are for the same time period as the investment option. 1 Additional information on this Investment Option can be found in Section 2.

2 Mutual Fund Option. The start/inception date is that of the fund's original share class. Performance returns for mutual fund options in your Plan offering a different share class with a more current start/inception date have been adjusted to reflect the fees and charges associated with the actual share class. * Performance returns not available at time of production. N/A - Performance returns are not applicable. ~ Gross Total Annual Operating Expenses are the gross fees potentially charged to the investment option and are displayed above in accordance with fee disclosure regulations. The Net Total Annual Operating Expenses, also displayed above as supplementary information, are the actual amounts charged by the investment option and may be different from the Gross Expenses due to certain fee waivers or additional expenses charged by other service providers. Expenses reduce the return of the investment option. Part of these fees may be shared with the plan's service providers to help pay for plan administration and/or recordkeeping fees. Part of these fees may be shared with the plan's service providers and, under an agreement with the applicable plan fiduciaries, may be used to help pay for plan administration and/or recordkeeping fees. The plan's fiduciaries may make changes to the plan's investments at any time subject to applicable notice requirements. Please see the participant website for more information. ** A benchmark index is not actively managed. It does not have a defined investment objective and does not incur fees or expenses. You cannot invest directly in a benchmark index. 2 – Other Investment-Related Fees, Expense Information and Transfer Restrictions Other Investment-Related Fees, Expense Information and Restrictions This table looks at fees, expenses and transfer restrictions that are in addition to the Investment Expenses in Section 1. Fees and expenses are only one of many things to think about when deciding to invest. You may also want to think about whether an investment in a particular investment option, along with your other investments, will help you reach your financial goals. Other Investment-Related Fees and Restrictions as of 04/25/2018 Investment Option Transfer Rule Shareholder Type Fees^ T. Rowe Price Retirement Balanced I 4 T. Rowe Price I 2020 I 4 T. Rowe Price Retirement I 2010 I 4 T. Rowe Price Retirement I 2030 I 4 T. Rowe Price Retirement I 2040 I 4 T. Rowe Price Retirement I 2050 I 4 Wells Fargo Stable Return Fund C 3 Metropolitan West Total Return Bond Plan 3 American Funds Income Fund of America R6 2 American Funds Washington Mutual R6 2 T. Rowe Price Dividend Growth I 4 T. Rowe Price Growth Stock I 4 Vanguard Total Stock Mrk Index - Admiral 1 American Century Mid Cap Value R6 5 Vanguard Mid Cap Index Adm 1

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Investment Option

Transfer Rule

Shareholder Type Fees^

Vanguard Small Cap Index Fund - Admiral American Funds Capital World G/I R6

1 2

American Funds EuroPacific Gr R6 2 Rule #1 - Fund company restriction: A transfer into this fund will not be permitted if a prior transfer was made out of this fund in the last 30 days. Rule #2 - Fund company restriction: A transfer of $5000 or more into this fund will not be permitted if a prior transfer of $5000 or more was made out of this fund in the last 30 days. Rule #3 - Due to the frequent trading policy and procedures regarding market timing and excessive trading, if 2 round trips have been processed INTO the fund there may be transfer restrictions. Given the fund's frequent trading policy and procedures and previous warnings, you may be restricted from transferring money into this fund for 30 days. Rule #4 - Due to the frequent trading policy and procedures regarding market timing and excessive trading, if 2 round trips have been processed INTO the fund there may be transfer restrictions. Given the fund's frequent trading policy and procedures and previous warnings, you may be restricted from transferring money into this fund for 90 days. Rule #5 - Due to the frequent trading policy and procedures regarding market timing and excessive trading, if 2 round trips have been processed INTO the fund there may be transfer restrictions. Given the fund's frequent trading policy and procedures and previous warnings, you may be restricted from transferring money into this fund for 180 days. ^ Shareholder/Shareholder-Type Fees are fees paid directly from your investment in this option (e.g., sales loads, sales charges, deferred sales charges, redemption fees, exchange fees, account fees, purchase fees, transfer or withdrawal fees). NOTE: More current information about the Plan's investment options, including fees, expenses and performance updates, may be available at your plan's Web site. 3 – Plan-Related Information Plan-Related Information is an explanation of general plan information. It includes a description of non-investment management fees and expenses that may be charged to your account. This section also includes a list of the Participant Elected Services Expenses. General Information Non-Investment Management Fees and Expenses: Includes recordkeeping, accounting, legal or other administrative fees that may be charged to your account. The dollar amount actually charged to your account during the previous quarter for such administrative or individual expenses will be reported to you on your quarterly statement. If you have additional questions related to fees on your account, please contact the Voice Response System or your Plan Administrator. Investment Instructions: Your plan lets you direct the investment of your account in the investment options listed in Section 1. You may make changes to your investment options via the plan’s Web site or by calling the Voice Response System. Limitations on Investments: Limits on making changes to your investment choices may be imposed by the Plan Administrator or by a manager of an investment option. Any limits or restrictions made by a fund manager are described in the prospectus for the fund. They include restrictions intended to prevent “market timing” (i.e., rapid trading in and out of a fund). If these restrictions apply then they will be listed in Section 2. In addition to the limits and restrictions described in the prospectus, the Plan Administrator may have other restrictions on making changes to your investment choices. If the Plan Administrator has additional limits, they will be described in a separate document that will be provided to you by your Plan Administrator. Voting, Tender, and Similar Rights: The appropriate Plan fiduciaries, or an individual or an institution designated by the Plan fiduciaries, will exercise any voting or other rights associated with ownership of the Designated Investment Alternatives offered in your Plan. Participant Elected Services Expenses Table This table shows expenses for optional services available through your plan. Certain fees may be charged to your individual account for optional services you use. Participant Elected Services Expenses as of 04/25/2018 Service Fee Amount Frequency Description Participant Loan (Origination) $150.00 Per Distribution This fee is associated with originating a loan through your company's retirement plan. Benefit Disbursement Fee $40.00 Per Distribution This fee is for the processing of a distribution from your account.

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Service

Fee Amount

Frequency

Description

ACH Special Handling Charge EXPRESS Special Handling Charge WIRE Special Handling Charge

$15.00

Per Distribution Automated Clearing House. This fee is for transferring your distribution directly into your bank account.

$25.00

Per Distribution This fee is for sending your distribution via 1- to 2-day express delivery.

$40.00 Per Distribution This fee is for sending your distribution to your bank account via electronic wire. Fees and expenses do add up and can have a big impact on your retirement savings. Fees and expenses are only two of many other factors to think about when you make investment decisions. You can visit the Department of Labor website for an example showing the long-term effect of fees and expenses - http:// www.dol.gov/ebsa/publications/401k_employee.html . Visit your plan's website listed in the title for a glossary of investment terms relevant to the investment options under this plan.

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