Quarterly
Participant Newsletter
For the period ending December 31, 2021
Did you contribute to your retirement plan this year? Do you
plan to file a 2021 federal income tax return? The answer to
both these questions is likely a “yes.” And that means your
decision to save for your future may pay dividends both
sooner (at tax time) and later (down the road in retirement).
While your savings rate, investment mix, and having the
discipline to stay the course for the long term are generally
more important factors in determining whether you achieve
your retirement goals, it certainly doesn’t hurt to realize tax
savings where you’re able. Understanding those opportunities,
and knowing where they exist, helps ensure that you aren’t
missing out on any useful tax breaks – especially ones that
make it easier to save for retirement. Fortunately, IRS rules
now on the books can make saving in your retirement plan tax
efficient in several ways.
To start, traditional contributions to your retirement plan
come out of your paycheck before it is taxed. Said another
way, your traditional contributions are made with pre-tax
dollars and become deductible from your taxable income.
Lower taxable income usually means that you pay less in taxes
when you file your return. Lowering your taxable income may
also qualify you for other benefits, like certain credits.
One such credit offered specifically for making eligible
contributions to your retirement plan is the Saver’s Credit. By
reducing the taxes you owe – dollar for dollar, above any
deductions you receive for contributions – this credit offsets
part of your deferrals. That’s essentially “free” money for
retirement.
To take the Saver’s Credit, you must be 18 or older, not a full-
time student, and not claimed as a dependent on another
person’s tax return. You can’t claim the Saver’s Credit if you’re
using Form 1040-EZ, and it may not be carried forward or
refunded. Rollovers do not qualify. Finally, your adjusted gross
income (AGI) must be below a certain threshold.
If you qualify, you may receive a tax credit of up to 50% of your
contributions for the year, depending on your tax filing status
and income level. The IRS provides a helpful table for
determining your credit rate here:
https://www.irs.gov/retirement-plans/plan-participant-
employee/retirement-savings-contributions-savers-credit.
The lower your AGI, the larger your Saver’s Credit. But the
maximum contribution amount that qualifies for the credit is
capped at $2,000 ($4,000 if married filing jointly), making the
maximum credit you can claim $1,000 ($2,000 if married filing
jointly).
Don’t leave your tax credits on the table!
This article is for informational purposes only and should not
be construed as specific investment, accounting, legal or tax
advice. Certain information is based on third-party sources
and may become outdated or otherwise superseded without
notice. Third-party information is deemed to be reliable, but
its accuracy and completeness cannot be guaranteed. Source:
IRS. Neither the Securities and Exchange Commission (SEC)
nor any other federal or state agency have approved,
confirmed the accuracy or determined the adequacy of this
article.
 20% stock
mtual funds
80% bond
mutual funds

Defensive
The objective of the Defensive portfolio is to seek to minimize portfolio risk by
investing primarily in high quality bonds. The portfolio is designed to grow at a
slow, steady pace through time with minimal years of portfolio losses, but
occasional declines of 10 percent or more should be expected. The portfolio is
designed for those who have a substantially lower tolerance for portfolio
fluctuations. The time horizon is typically 3 years or more.

Risk/Return Chart

40% stock
mutual funds
60% bond
mutual funds

Conservative
The objective of the Conservative portfolio is to seek to promote capital
preservation while also offering some growth potential. This portfolio is
designed for those who have a lower tolerance for portfolio fluctuations but are
willing to stay invested through some losses in the portfolio. In exchange for the
growth potential, occasional declines of 20 percent or more should be
expected. The investment time horizon is typically 3 to 5 years or more.

Risk/Return Chart

60% stock
mutual funds

40% bond
mutual funds

Moderate
The objective of the Moderate portfolio is to seek to promote some long-term
growth. This portfolio can experience significant short-term losses and
therefore is designed for those who have a moderate tolerance for portfolio
fluctuations. Occasional declines of 30 percent or more should be expected,
and therefore, the investment time horizon is typically 10 to 15 years or more.

Risk/Return Chart
 80% stock
mutual funds

20% bond
mutual funds

Aggressive
The objective of the Aggressive portfolio is to seek to provide long-term
growth. It is designed for those interested in maximizing growth potential and
willing to assume a higher level of risk to potentially achieve greater returns.
These investors should have a long-term investment horizon and be able to
withstand significant fluctuations in portfolio value. Occasional declines of 40
percent or more should be expected, and therefore, the investment time
horizon is typically 15 to 20 years or more.

Risk/Return Chart

100% stock
mutual funds

Highly Aggressive
The objective of the Highly Aggressive portfolio is to seek to maximize long-
term growth potential. It is designed for those willing to assume a high level of
risk to potentially achieve greater returns. With no allocation to bonds,
investors should have a long-term investment horizon and be able to withstand
sizable fluctuations in portfolio value. Occasional declines of 50 percent or
more should be expected, and therefore, the investment time horizon is
typically 20 years or more.

Risk/Return Chart

Disclosure Statement:
Performance returns shown are blended historical returns for the funds used in the Buckingham Retirement Solutions Asset Allocation Portfolios. Returns are
shown net of fund fees and the maximum advisory fee of 1.00% annually; your fees may be lower. Fees for recordkeeping and custody of the retirement plan assets
are not included in these returns and would cause actual returns to be lower, as would other expenses that would be incurred in the management and
administration of an actual retirement plan. These hypothetical returns were calculated after the end of the periods shown and reflect the reinvestment of
dividends and other earnings. As model hypothetical performance, these returns do not represent actual investment decisions by Buckingham and thus may not
reflect the impact that material economic and market factors might have had if Buckingham were actually managing the portfolio. This information should not be
considered as a demonstration of actual performance results or actual trading using client assets and should not be interpreted as such. Indices are not available
for direct investment. Their performance does not reflect the expenses associated with the management of actual trading.

Past performance is no guarantee of future results.

Model Asset Allocation Portfolio Performance for the Period Ending December 31, 2021

©Buckingham Retirement Solutions

 INDIVIDUAL MUTUAL FUND PERFORMANCE FOR THE PERIOD ENDING December 31, 2021

The performance information below is for the individual funds used to create the Managed Portfolios. Data
provided by Morningstar. More detailed information about the investment objectives, risk and historical
investment returns of these funds, as well as prospectuses, is available through your plan’s website.

Name Ticker Asset Class YTD 1 Year 3 Years 5 Years 10 Years 15 Years
Vanguard 500 Index Admiral VFIAX US Large Neutral 28.66 28.66 26.03 18.43 16.51 10.64
S&P 500 TR USD Benchmark US Large Neutral 28.71 28.71 26.07 18.47 16.55 10.66
DFA US Large Cap Growth Instl DUSLX US Large Growth 26.82 26.82 26.86 20.23 n/a n/a
Russell 1000 Growth TR USD Benchmark US Large Growth 27.60 27.60 34.08 25.32 19.79 13.72
DFA US Large Cap Value III DFUVX US Large Value 28.17 28.17 17.02 11.04 13.91 8.13
Russell 1000 Value TR USD Benchmark US Large Value 25.16 25.16 17.64 11.16 12.97 7.51
Vanguard Mid-Cap Growth Index Admiral VMGMX US Mid Growth 20.48 20.48 29.44 20.05 16.45 11.43
CRSP US Mid Cap Growth TR USD Benchmark US Mid Growth 20.51 20.51 29.50 20.12 16.55 11.68
DFA US Small Cap Growth Instl DSCGX US Small Growth 25.93 25.93 23.77 14.07 n/a n/a
Russell 2000 Growth TR USD Benchmark US Small Growth 2.83 2.83 21.17 14.53 14.14 9.97
DFA US Targeted Value I DFFVX US Small Value 38.80 38.80 20.50 10.06 12.98 8.25
Russell 2000 Value TR USD Benchmark US Small Value 28.27 28.27 17.99 9.07 12.03 7.19
DFA Large Cap International I DFALX Intl Large Growth 12.81 12.81 14.18 9.88 8.02 3.93
MSCI World ex USA NR USD Benchmark Intl Large Growth 12.62 12.62 14.07 9.63 7.84 3.70
DFA International Small Company I DFISX Intl Small Neutral/Growth 14.24 14.24 15.74 10.23 9.97 5.66
MSCI World Ex USA Small Cap NR USD Benchmark Intl Small Neutral/Growth 11.14 11.14 16.27 11.03 9.99 5.40
DFA Emerging Markets Core Equity I DFCEX Emerging Markets 5.83 5.83 11.82 10.11 6.05 5.39
MSCI EM NR USD Benchmark Emerging Markets -2.54 -2.54 10.94 9.87 5.49 4.45
Vanguard Real Estate Index Admiral VGSLX US Real Estate 40.40 40.40 19.95 11.24 11.51 7.20
MSCI US IMI/Real Estate 25-50 GR USD Benchmark US Real Estate 40.56 40.56 20.07 12.49 n/a n/a
DFA International Real Estate Sec I DFITX Intl Real Estate 12.87 12.87 8.25 6.38 7.45 n/a
S&P Global Ex US REIT NR USD Benchmark Intl Real Estate 12.70 12.70 7.79 6.04 7.17 1.98
Short Term Inflation-
Vanguard Shrt-Term Infl-Prot Sec Idx Adm VTAPX 5.26 5.26 5.02 3.26 n/a n/a
Protected Bond
Short Term Inflation-
Bloomberg US TIPS 0-5 Year TR USD Benchmark 5.34 5.34 5.09 3.32 1.89 2.96
Protected Bond
DFA Five-Year Global Fixed-Income I DFGBX Intermediate Bond -1.03 -1.03 1.49 1.62 1.85 2.78
FTSE WGBI 1-5 Yr Hdg USD Benchmark Intermediate Bond -0.80 -0.80 2.07 1.89 1.66 2.39
Intermediate Inflation-
DFA Inflation-Protected Securities I DIPSX 5.55 5.55 8.53 5.44 3.10 4.84
Protected Bond
Intermediate Inflation-
Bloomberg US Treasury US TIPS TR USD Benchmark 5.96 5.96 8.44 5.34 3.09 4.69
Protected Bond