Transcription
Important information about your investment options, fees and otherexpenses for the Schlumberger Savings and Profit Sharing Plan. Annual FeeDisclosure Statement as of April 2018The Schlumberger Savings and Profit Sharing Plan is a great way tobuild savings for your future retirement income needs. Through theSchlumberger Savings and Profit Sharing Plan you get:Schlumberger plan, please see theSummary Plan Description availableon the plan’s website.What’s Inside1. About Fees andExpenses2. The Plan’s InvestmentOptions3. Investment-RelatedInformation4. Terms You Should Know The convenience of automatic savings through payroll deductions The opportunity to make 401(k) contributions The increased value of Company matching and profit sharingcontributions A flexible, diversified investment line-up of funds that aremanaged and overseen by the Plan’s fiduciaries.You’ll want to make sure you are taking full advantage of theSchlumberger Savings and Profit Sharing Plan by choosing yoursavings rate and investments to meet your long-term retirementneeds. Use the tools available on the plan’s website to explore howyour savings and investment decisions impact your long-term savingsgoals.Review this statement to learn more about fees and expensescharged by the plan, the plan’s investment options, and where to findmore information or to take action. To learn more about theLast updated 04/04/2018Plan website: rger-Private1
Individual Participant Fees in the Schlumberger Savings andProfit Sharing Plan Financial Engines Professional Management fees: If you sign up forthe Financial Engines Professional Management program, you pay a feethat is based on the value of your account:– For the first 100,000the fee is: 0.45% of assets– For the next 150,000the fee is: 0.35% of assets– And for assets above 250,000the fee is: 0.20% of assetsFees are calculated based on the average amount of assets undermanagement for the calendar quarter and are debited from your accountat the start of the following quarter. Loan fees: You will pay a 60 fee whenever you take a loan from theplan. This fee is deducted from your loan proceeds. Self-directed Brokerage Window fees: If you establish a self-directedbrokerage window, you will pay a maintenance fee of 12.50 per quarter.This fee is deducted from other assets you have in the plan rather thandirectly from your self-directed brokerage account. Depending upon theinvestments purchased and sold in the self-directed brokerage window,other commissions and fees may apply and will be charged within yourself-directed brokerage account.Learn more about applicable plan fees on the plan’s website.Most of the fees and expenses for the Schlumberger Savings andProfit Sharing Plan are paid by Schlumberger; and not theparticipants in the plan.Last updated 04/04/2018 You also have individual participant fees that result in chargesdue to services you have requested. (Refer to the IndividualParticipant Fees box and the following pages to learn more aboutindividual fees.) There are no front-end load sales charges, commission charges orredemption fees when you invest in the Core Funds or the TargetDate Funds.Fees and expenses are important because they can substantiallyreduce the growth of your account over the long term. (You can findan example that illustrates this concept on the Department of Labor’swebsite, -look-at-401kplan-fees.pdf.) However, fees are only one of several factors toconsider when making investment decisions. You should carefullyconsider other key factors, including asset class and investment risk,investment objectives, principal investment strategies, and historicalperformance when selecting your investment options.2. The Plan’s Investment Options1. About Fees and ExpensesThere are several types of fees associated with investments: Some fees are asset-based fees. You won’t see these feesseparately because these fees are charged directly to theinvestment fund reducing your investment earnings. These fees areshown in Section 3 of this statement. Asset-based fees are utilizedto pay for investment management and operating costs for aspecific investment fund.As a participant in the Schlumberger Savings and Profit Sharing Plan,you’re responsible for investing your account in one or anycombination of the plan’s investment options. Section 3 providesmore specific information about the investment options, whichinclude: Core Funds: The Schlumberger plan has two bond funds and twoequity funds that make up the “Core Fund” investment offerings inthe Plan. Each of these funds has varying levels of risk.Participants may choose to invest in one or any combination ofCore Funds. For more information, please refer to Section 3 belowand to the website for detailed factsheets.Plan website: rger-Private2
Target Date Funds: Schlumberger's Target Date Series is a suiteof 10 Target Date Funds that are designed to simplify retirementinvesting with an all-in-one, professionally managed and welldiversified fund. Each Fund in the series has a target date in itsname that corresponds to the approximate year when a participantexpects to retire. Each Fund gradually adjusts the asset allocationover time to become more conservative through higher allocationsto fixed income investments as the target year approaches. Whilediversification does not assure a profit or protect against a loss, theTarget Date Fund invests in a combination of underlying activelyand passively managed funds that cover multiple asset classes andfund families, to create a diversified allocation based on aparticipant's retirement date and risk profile. For more information,please refer to Section 3 below and to the website for detailedfactsheets. Self-Directed Brokerage Window: This is a trading platformwhich provides access to retail investment options available in themarket. The self-directed brokerage window is designed forparticipants who have considerable knowledge of the investmentmarketplace; want greater flexibility to create a more customizedportfolio of investments; and have the ability, time, and desire topersonally research and evaluate different investments available.The platform is provided through Alight Financial Solutions LLC, abroker-dealer subsidiary of Alight Solutions LLC and memberFINRA/SIPC.Note: The plan’s fiduciary will not manage or oversee theinvestments available through the self-directed brokerage window.You are solely responsible for your investment choice in the selfdirected brokerage window. There is information available on allavailable retail investments, for example a mutual fund prospectuswhich includes information on the investment policy, fundmanagers, fees and expenses, and returns. You can request that acopy of a fund prospectus be sent to you from thewww.hewittfs.com website, by contacting Alight FinancialSolutions at 1-800-890-3200, or by going to the fund's websitedirectly.There may be individual account maintenance fees applicable to theself-directed brokerage window paid from your plan assets as notedLast updated 04/04/2018in the box on page 2. In addition, depending upon the investmentspurchased and sold in the self-directed brokerage window,commissions and fees may apply and will be charged directly to yourself-directed brokerage window account. Before you purchase or sellsecurities through the self-directed brokerage window you should findout about any fees associated with the purchase or sale of theparticular investment you are trading. You can obtain a fee scheduleof applicable trading fees and commissions online by logging intoyour account atwww.yourbenefitsresources.com/schlumberger or by contactingAlight Financial Solutions at 1-800-890-3200.You may enroll in the self-directed brokerage window by eitherenrolling online or completing a form and returning it to AlightFinancial Solutions by fax or mail. Only employee contributions maybe invested in the self-directed brokerage window. You may changeyour investment elections daily on any day the market is open. Butkeep in mind that some investments within the self-directedbrokerage window may be subject to regulatory and fund companytrading restrictions.Voting Rights for Certain InvestmentsSchlumberger will direct the manner in which the Trustee will vote theSchlumberger, DowDuPont and Transocean Stock Shares credited toyour Stock Fund account, if any. The Trustee votes your CommonShares in accordance with the voting instructions received fromSchlumberger.Choosing Your Investment StrategyUltimately, how you invest should depend on your age, lifestyle,accumulated wealth, years to retirement, and comfort level aroundrisk. This statement only provides some information about yourinvestment choices like fees, expenses, and historical returns. Yourinvestment decisions should be based on your individual situation,not just the information in this statement. In addition, historical returnsPlan website: rger-Private3
should not be considered as a representation of how these funds willperform in the future. Learn More About the Investment Options. To learn more aboutthe investment funds offered and fees that apply to these funds,visit the Schlumberger Savings and Profit Sharing Plan website.You can find fund facts, fund performance, and other fundinformation. You can also receive more information about thefunds, including paper copies of the information that is providedonline, by calling the Schlumberger Savings Plan Center at 1-800474-4015 ( 1-847-883-2175 outside the U.S.). Representatives areavailable from 9:00 a.m. to 6:00 p.m., Eastern Time, Mondaythrough Friday.Some of the information you can find on the website or requestcopies of includes: Summary prospectuses or similar documents for funds that arenot federally registered. Any financial statements or reports, such as statements ofadditional information and shareholder reports, and of any othersimilar materials relating to the Plan’s funds, to the extent suchmaterials are provided to the Plan. A statement of the value of a share or unit of each fund as wellas the date of the valuation. A list of the major “plan assets” comprising the portfolio of eachfund Enroll or Make Changes to Your Investments. You can enroll inthe Schlumberger Savings and Profit Sharing Plan or makechanges to your investments at any time by logging on to the plan’swebsite. Once you have logged on you can:–Enroll—simply go to Start Saving–Change your current investment mix or your investmentelections for future contributions—go to Savings andRetirement 401(k) Savings Plan Investments ChangeYour Investments and follow the instructions on the website To help you create an investment strategy, the plan hasdesignated Financial Engines, an independent RegisteredInvestment Advisor, to provide fiduciary investment services toplan participants. An Online Advice tool can help you fine-tuneyour investing strategy, and the Professional Managementprogram offers personalized portfolio management fromprofessional investment advisors. Fees apply for the managedaccount services; see the Administrative and IndividualParticipant Fees box in Section 1. Financial Engines does notguarantee future results.You may also enroll or change investment options by calling theSchlumberger Savings Plan Center at 1-800-474-4015 ( 1-847-8832175 outside the U.S.). Representatives are available from 9:00 a.m.to 6:00 p.m., Eastern Time, Monday through Friday.For more information aboutthis statement, you maycontact the SchlumbergerSavings Plan Center at1-800-474-4015 or the planadministrator:Administrative Committee for the Savingsand Profit Sharing Planc/o Schlumberger3600 Briarpark Drive, 3rd floorHouston, TX 77042Attn: Manager, Benefit Plan ComplianceFederal regulations require plan sponsors to provide this statement. Itincludes important information to help you understand your retirement plansand compare the investment options offered to you. Most or all of the fundinformation available in this statement is available to you by other means,and is provided by third parties. We have not independently verified thethird-party information we are relaying in this statement.3. Investment-Related InformationThe following tables provide you with information on Schlumberger’sinvestment options, including:1. Fee information including asset-based fees (often called theexpense ratio) plus investment restrictions.2. Historical performance and benchmark comparison.Last updated 04/04/2018Plan website: rger-Private4
General Information Fee Information Information about an option including its principal risks is available on the plan’s website.2017AnnualExpense2RatioAnnual CostPer 1,000 of2InvestmentShort Term Fixed Income Fund0.002% 0.02N/AIntermediate Fixed Income Fund0.000% 0.00N/AGlobal Equity Fund0.006% 0.06N/AU.S. Equity Fund0.000% 0.00N/ASchlumberger Stock Fund0.000% 0.00Only 100% of fund may be transferred out; no new purchases allowed0.000% 0.00Only 100% of fund may be transferred out; no new purchases allowed0.000% 0.00Only 100% of fund may be transferred out; no new purchases allowedRetirement Income Fund0.005% 0.05N/A2020 Target Date Fund0.005% 0.05N/A2025 Target Date Fund0.003% 0.03N/A2030 Target Date Fund0.003% 0.03N/A2035 Target Date Fund0.004% 0.04N/A2040 Target Date Fund0.004% 0.04N/A2045 Target Date Fund0.004% 0.04N/A2050 Target Date Fund0.004% 0.04N/A2055 Target Date Fund0.004% 0.04N/A2060 Target Date Fund0.004% 0.04N/AFund NameInvestment Restrictions1Core FundsDow Stock Fund3Transocean Stock FundTarget Date Funds1Investment Restrictions include any restrictions on trading that might exist for a specific investment option.2The annual expense ratio is the operating costs, including management fees, expressed as a percentage of the fund's average net assets. The expense ratio doesnot include brokerage costs and various other transaction costs that may also contribute to a fund's total expenses.3stEffective August 31 , 2017, the Dow Chemical Company and E.I. du Pont de Nemours and Company (“DuPont”) merged to form DowDuPont Inc., a holdingcompany, with Dow and DuPont as its subsidiaries. On the same day, common stock for both, Dow and DuPont, were voluntarily delisted from the New York StockExchange. DowDuPont’s common stock commenced trading on the NYSE under ticker symbol DWDP on September 1, 2017. As part of the merger agreement,Dow shareholders received a fixed exchange ratio of 1.00 shares of DowDuPont for each Dow share.Last updated 04/04/2018Plan website: rger-Private5
Historical Performance as of December 31, 2017These returns are presented net of the fees. For more detailed information on the performance please rger.Calendar Year% ReturnsFund Name/BenchmarkCore FundsShort Term Fixed Income FundBenchmark: ML 1-3 yr TreasuryBenchmark: Short Term Fixed Composite1Intermediate Fixed Income FundBenchmark: BB Barclays US AggregateBenchmark: Intermediate Fixed Composite1Global Equity FundBenchmark: MSCI EAFE NDBenchmark: Global Equity Fund CompositeU.S. Equity FundBenchmark: Russell 1000Benchmark: U.S. Equity Fund CompositeSchlumberger Stock FundBenchmark: S&P 500Dow Stock FundBenchmark: S&P 500Transocean Stock FundBenchmark: S&P 500Target Date Funds2Retirement Income FundBenchmark: BB Barclays US AggregateBenchmark: Retirement Fund Composite22020 Target Date FundBenchmark: BB Barclays US AggregateBenchmark: 2020 TDF Composite22025 Target Date FundBenchmark: MSCI ACWI NDBenchmark: 2025 TDF Composite22030 Target Date FundBenchmark: MSCI ACWI NDBenchmark: 2030 TDF Composite22035 Target Date FundBenchmark: MSCI ACWI NDLast updated 04/04/2018Annualized Returns% Returns201720162015201420131 yr3 yr5 yr10 8.68.6-1.88.59.88.5-19.48.5Plan website: rger-PrivateInceptionto Date5.22.65.05.52.65.26.57.96.27.87.97.38.87.96
Benchmark: 2035 TDF Composite22040 Target Date FundBenchmark: MSCI ACWI NDBenchmark: 2040 TDF Composite22045 Target Date FundBenchmark: MSCI ACWI NDBenchmark: 2045 TDF Composite22050 Target Date FundBenchmark: MSCI ACWI NDBenchmark: 2050 TDF Composite22055 Target Date FundBenchmark: MSCI ACWI NDBenchmark: 2055 TDF Composite22060 Target Date FundBenchmark: MSCI ACWI NDBenchmark: 2060 TDF .8Keep in mind that a Fund’s past performance does not indicate how the Fund will perform in the future. Your investment in these options could lose money.Information about an option’s principal risks is available on the plan’s website.1Inception date of these funds was October 20, 2009.2Inception date of these funds was August 1, 2014.Composite BenchmarksThe composite benchmarks are supplemental benchmarks that are being shown because the asset classes used in the supplemental benchmarksare more representative of how the plan’s funds are actually invested. These supplemental benchmarks are being shown for informationalpurposes to allow investors to better compare the performance and risks of the funds currently offered in the Plan with the understanding that pastresults are not a guarantee of future performance. The composite benchmarks below are a combination of the market indexes listed and at theproportions indicated:Short Term Fixed Income Fund composite: ICE ML US Treasury 1-3 year; 34.48%, ICE ML US 3 Mo Treasury; 18.56%, BB BC US Tips; 2.50%,BB BC US Aggregate; 27.22%, BB BC US Aggregate 1-3 year; 17.24%Intermediate Fixed Income Fund composite: BB BC US Aggregate; 99.00%, ICE ML US 3 Mo Treasury; .1.00%Last updated 04/04/2018Plan website: rger-Private7
Global Equity Fund composite: Russell 1000; 21.14%, Russell 1000 Growth; 6.86%, S&P 500; 10.00%, Russell MidCap Value; .69%, RussellMidCap; .69%, Russell 2000; 5.60%, MSCI Emerging Markets ND; 11.00%, MSCI EAFE ND; 33.00%, MSCI EAFE Value ND; 11.00%, S&P 400;.02%U.S. Equity Fund composite: Russell 1000; 50.25%, Russell 1000 Growth; 9.80%, S&P 500; 28.00%, MSCI US Min Volatility Net; 4.95%, Russell2000; 7.00%Retirement Income Fund composite: Russell 1000; 5.03%, S&P 500; 3.00%, Russell MidCap Value; .98%, Russell MidCap; .98%, Russell 2000;2.00%, MSCI Emerging Markets ND; 4.00%, MSCI EAFE ND; 7.50%, MSCI EAFE Value ND; 2.50%, BB BC US Aggregate; 49.50%, BB BC LongGov/Credit; 2.99%, ICE ML US 3 Mo Treasury; 1.45%, BB BC US Aggregate 1-3 year; .74%, ICE ML US Treasury 1-3 year; 1.48%, ICE ML US HYConstrained Master II; 3.92%, S&P LSTA Lev Loan B-1; 3.92%, MSCI US M
As a participant in the Schlumberger Savings and Profit Sharing Plan, you’re responsible for investing your account in one or any combination of the plan’s investment options. Section 3 provides more specific information about the investment options, which include: Core Funds: The Schlumberger plan has two bond funds and twoFile Size: 416KB
