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August 22, 2017
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Action Center
Investment Plan Changes
Posted On: Aug 11, 2016

Avaya Inc. Savings Plan for Salaried Employees and Avaya Inc. Savings Plan, collectively known as “the Plan”

Re: Fund Lineup Changes

This notification is being sent to inform you of a change being made to the investment line-up in your plan as a result of new SEC money market reform rules taking effect this year. In response to these rule changes, your Plan Sponsor must make changes to your investment lineup, effective on or about August 30, 2016, (the “Effective Date”). The following explains the impact of this change to you.

The investment option shown on the left of the below table, under Liquidating (“Old”) Fund will no longer be available in the Plan. All existing balances and future contributions in this fund applicable to the plan will be transferred to the fund shown immediately to its right, under Successor (“New”) Fund, on or about the effective date. The transfer of balance will appear as an exchange on your account history and quarterly statement. You may receive a prospectus as a result of this transaction.  There is no cost for this transaction.

If you do not want your future contributions to transfer to the investment option as shown below, you must contact Fidelity Investments® before 4:00 P.M. Eastern Time on the effective date and request a change. If you do not want your remaining balances to transfer to the investment option as shown on the following page, you must contact Fidelity Investments before 4:00 P.M. Eastern Time on the effective date and request an exchange.

Liquidating (“Old”) Fund

Successor (“New”) Fund

Fidelity® Institutional Money Market Prime Money Market Portfolio – Institutional CL (FIPXX)

Fidelity® Institutional Money Market Government Portfolio - Institutional CL (FRGXX)

If you would like more information, or to review investment options in your plan, please do so by logging onto Fidelity NetBenefits® at www.401k.com. In order to speak with a customer service representative, please contact Fidelity at 1-877-208-0783.

You may also speak with the Avaya Inc. 401(k) plans’ Investment Advisor Tom Demko @

310-586-3222. 

About Your New Investment Option

Fidelity® Investments Money Market Government Portfolio - Institutional Class
FPRS Code: 2642 
Ticker: FRGXX
Objective: Seeks to obtain as high a level of current income as is consistent with the preservation of principal and liquidity within the limitations prescribed for the fund.
Strategy: The Adviser normally invests at least 99.5% of the fund's total assets in cash, U.S. Government securities and/or repurchase agreements that are collateralized fully (i.e., collateralized by cash or government securities). Certain issuers of U.S. Government securities are sponsored or chartered by Congress but their securities are neither issued nor guaranteed by the U.S. Treasury. Investing in compliance with industry-standard regulatory requirements for money market funds for the quality, maturity, liquidity and diversification of investments. The Adviser stresses maintaining a stable $1.00 share price, liquidity, and income. In addition the Adviser normally invests at least 80% of the fund's assets in U.S. Government securities and repurchase agreements for those securities.
Risk: Interest rate increases can cause the price of a money market security to decrease. A decline in the credit quality of an issuer or a provider of credit support or a maturity-shortening structure for a security can cause the price of a money market security to decrease. You could lose money by investing in the fund. Although the fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Fidelity Investments and its affiliates, the fund's sponsor, have no legal obligation to provide financial support to the fund, and you should not expect that the sponsor will provide financial support to the fund at any time. The fund will not impose a fee upon the sale of your shares, nor temporarily suspend your ability to sell shares if the fund's weekly liquid assets fall below 30% of its total assets because of market conditions or other factors.
Short-term Redemption Fee Note: None
Who may want to invest:

  • Someone who has a low tolerance for investment risk and who wishes to keep the value of his or her investment relatively stable.

  • Someone who is seeking to complement his or her bond and stock fund holdings in order to reach a particular asset allocation. 

Expense Ratio: 0.18% as of August 8, 2016

Footnotes: This description is only intended to provide a brief overview of the mutual fund. Read the fund's prospectus for more detailed information about the fund.

Initial offering of the Fidelity® Institutional Money Market Government Portfolio - Institutional Class took place on May 14, 2014. Returns and expenses prior to that date are those of the Fidelity® Institutional Money Market Government Portfolio - Class I. Had Fidelity® Institutional Money Market Government Portfolio - Institutional Class expenses been reflected in the returns shown, total returns would have been higher.

As of May 31, 2016, this fund changed its name from Fidelity® Institutional Money Market Government Portfolio.

For a mutual fund, the expense ratio is the total annual fund or class operating expenses (before waivers or reimbursements) paid by the fund and stated as a percentage of the fund’s total net assets. Expense ratios change periodically and are drawn from the fund’s prospectus. For more detailed fee information, see the fund prospectus or annual or semiannual reports.

Before investing in any mutual fund, consider the investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

Fidelity Brokerage Services LLC, Member NYSE, SIPC, 900 Salem Street Smithfield, RI 02917

© 2016 FMR LLC. All rights reserved.

757706.2.2


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