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Monitoring Report

Performance

Risk

Style / Operations

Security Name

3Yr

5Yr

10Yr

3Yr

Sharpe

5Yr

Sharpe

5Yr Up

Capture

5Yr

Down

Capture

Style

Drift

R-Sqrd

5Yr

Mgr

Tenure

AUM

(MM)

Exp

Rat

Pass

Watch

Action

Domestic Equity

T. Rowe Price Equity Income I

6.20 12.75

5.68

0.57

1.17

92.34

100.70

LV 97.03

1.17

22,691 0.58

Watch

Morningstar Large Value

6.56 13.25 5.52 0.59 1.14 92.64 105.97

-

90.86 8.95 4,716 0.97

Rank in Category

70 60 45 65

51 62 60

-

-

-

-

13

Commentary:

T. Rowe Price Equity Income is on watch for the fourth quarter of 2016 for its intermediate underperformance, risk-adjusted measurements, up and down capture

ratio ratings, and recent changes within the management team. The fund’s trailing total returns rank in the bottom half of its large value peers over the recent three-

and five-year periods. Poor performance in 2014-15 continues to inhibit the fund’s rating due to stock selection and overweight positions within the utilities and

consumer discretionary sectors. As evidenced by the up and down capture ratio violations, this fund has struggled to keep pace with its benchmark during up and

down periods in the market. Finally, John Linehan replaced Brian Rogers as portfolio manager in November 2015. Since Linehan took over the fund, it has managed

to outperform its category peers and S&P 500 Index benchmark in each quarter of 2016. As we evaluate the fund’s record in the context of the recent

developments, we believe it is improving under new management and recommend its retention. We will monitor its progress with scrutiny on the watch list going

forward.

Vanguard Value Index Adm

9.45 14.98 5.98 0.90 1.41 97.92 93.23

LV 98.61 22.08 50,821 0.08 Pass

Morningstar Large Value

6.56 13.25 5.52 0.59 1.14 92.64 105.97

-

90.86 8.95 4,716 0.97

Rank in Category

7

9 36

7

4 36 78

-

-

-

-

1

Vanguard Windsor™ II Admiral™

6.95 13.32 5.78 0.64 1.22 95.94 104.05

LV 96.59 13.08 46,954 0.26 Pass

Morningstar Large Value

6.56 13.25 5.52 0.59 1.14 92.64 105.97

-

90.86 8.95 4,716 0.97

Rank in Category

50 48 42 50 38 46

47

-

-

-

-

4

Calvert US Large Cap Core Rspnb Idx I

8.60 15.28 6.88 0.78 1.34 104.27 104.56

LB 97.02

1.58

868 0.19 Pass

Morningstar Large Blend

6.85 13.63 6.20 0.63 1.19 96.15 106.45

-

93.89 8.49 7,462 0.92

Rank in Category

11

5 23 21 11 12

47

-

-

-

-

7

Vanguard Institutional Index I

8.85 14.63 6.95 0.83 1.36 99.93 100.09

LB 100.00 16.08 211,496 0.04 Pass

Morningstar Large Blend

6.85 13.63 6.20 0.63 1.19 96.15 106.45

-

93.89 8.49 7,462 0.92

Rank in Category

6 15 21

6

5 29 75

-

-

-

-

2

Funds listed in

Blue

are alternative funds. Funds listed in

Green

are fund additions.