VERIZON INVESTMENT MANAGEMENT

Each Verizon Target Date Fund is a daily-priced fund that invests in a set of underlying investment portfolios. These funds are not registered mutual funds and interests in the Verizon Target Date Funds are not insured by the Federal Deposit Insurance Corporation (FDIC) or any other agency. The Verizon Target Date Funds have not been registered under the Securities Act of 1933 and are exempted from investment company registration under the Investment Company Act of 1940. Therefore, Participating Plans and their Participants will not be entitled to the protections under these Acts. Management of the Verizon Target Date Funds, however, is generally subject to the fiduciary duty and prohibited transaction rules under the Employee Retirement Income Security Act of 1974, as amended (ERISA). J.P. Morgan Asset Management is the asset allocation manager for the Target Date Funds. The investment portfolios underlying the Target Date Funds are managed by a number of investment managers selected..

Also known as: Verizon Investment Management Corp.