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A summary of the plans’ benefit obligations, funded status, and net balance sheet position is as follows: 

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The company has engaged a non-affiliated third party professional investment advisor to assist the company develop investment policy and establish asset allocations. The company’s overall investment objective is to provide a return, that along with company contributions, is expected to meet future benefit payments. Investment policy is established in consideration of anticipated future timing of benefit payments under the plans. 

The anticipated duration of the investment and the potential for investment losses during that period are carefully weighed against the potential for appreciation when making investment decisions. The company routinely monitors the performance of investments made under the plans and reviews investment policy in considera- tion of changes made to the plans or expected changes in the timing of future benefit payments. 

