On the agenda: Westwhiteland meeting — data center (Apr 22)

WEST WHITELAND TOWNSHIP
PENSION ADVISORY BOARD
Agenda
Wednesday, April 22, 2026
9:00 A.M.
Hybrid Meeting – Use link below to join virtually

West Whiteland
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1. Approval of minutes – January 28, 2026
2. Review Conflict of Interest Guidance
3. Review of Pension Investment Policy
4. OPEB and Pension Plans performance review (PFM< Don Grant)
•
•

Comparison to benchmarks
Review of economic and market indicators

5. Any new business from PAB members?
Adjournment

Pension Advisory Board 2026 Meeting Schedule
July 22, 2026, at 9am
October 28, 2026, at 9am
January 27, 2027, at 9am

WEST WHITELAND TOWNSHIP
PENSION ADVISORY BOARD MI NUTES
January 28, 2026
Members Present

Township Staff Present

Tom Belisari
Denise Bailey
Jack Ellis
John Weller, Non-Uniformed Representative

Caroline Partridge, Finance Director
Pamela Gural-Bear, Township Manager

Supervisors Present
Brian Dunn

Employees Present
Todd Greenawalt
Kellie Brewer
The meeting was called to order at 9:04 A.M.

1.

2.

3.

Election of Chair & Vice Chair
MOTION:

To nominate Tom Belisari as Chair.

ACTION :

The motion was unanimously approved .
(Ellis/Bailey)

MOTION:

To nominate Chris Bamber as Vice-Chair.

ACTION :

The motion was unanimously approved .
(Belisari/Bailey)

Approval of Minutes - October 22, 2025
MOTION:

To approve the October 22, 2025, Minutes as presented .

ACTION :

The motion was unanimously approved .
(Ellis/Bailey)

Review of Pension Investment Policy

Members decided to table review of the I nvestment Policy until the April meeting when Mr.
Bamber could be in attendance to present his questions/comments.
MOTION:

To table discussion and voting on the Pension I nvestment Policy revisions
until the April 2026 meeting.

ACTION :

The motion was unanimously approved .
(Ellis/Bailey)

Pension Advisory Board
January 28, 2026

4.

Review of economic and market indicators and OPEB and Pension Plans
performance review

Mr. Grant provided an overview of the markets and the economy for the year 2025 year describing
them both as "Resilient" given the domestic and global stressors, including tariffs and positives
and negatives of Artificial Intelligence (AI). The Russell 300 had a 2.4% return for the quarter
and 17.15% for the year. This is well above the 7-8% proj ected. It was noted that Amazon is
laying off 16,000 due to AI, and there are fewer entry-level positions for college graduates.
The overseas market is similar. International Equity is 5.05% for the quarter and 32.49% for the
year. Factors accounting for this include the devaluation of the dollar last year and AI (S. Korea
and Taiwan). Mr. Weller noted also the European nations are now spending more on military as
US relations with NATO deteriorate. Bloomberg was at 1.1% for the quarter and 7.3% for the
year. International equities were up 5.49%, emerging markets at 7.51%, and bonds were strong.
Inflation has moderated (2.7%) but is still not at the desired 2%. Unemployment was 4.5% in
December and 4.4% now. Only 50,000 jobs were added in December. The year 2024 saw 2
million jobs added compared to only 584,000 in 2025. This reflects a significant slowdown in the
labor market. Mr. Grant said the it is AI and the K-shape economy (higher income households
spending and propping up the economy) that accounts for much of the positives in the
market/ economy that we are seeing at present.
GDP was 4.3% for the 3rd quarter. Mr. Grant said consumers are still spending but doing so with
credit cards and personal loans and believe they spend to help themselves feel better about the
current situation. We are seeing an increase in defaulting auto loans while auto dealers finance
vehicles for 15-year periods (Buy now, pay later). Mr. Grant said while the market/ economy
appears good, there are definitely cracks in the system.
President Trump is pressing the Federal Reserve for more interest rate cuts - merely for political
reasons to help the mid-term elections. The University of Michigan consumer sentiment survey
shows consumer confidence has decreased from 71 last year to 54. People are spending to feel
good.
Services continue to strengthen while manufacturing weakens.
Mr. Belisari asked if PFM was concerned about the overconcentration of the Magnificent 7 in the
S&P. Mr. Grant said it is a "massive concern", noting the uncertainty of an "AI bubble" but added
that we have to participate in them or we will lag behind the benchmarks. He said the important
thing is to know "when to fold them."
Mr. Belisari asked if PFM has experienced any issues getting data from the government in the last
3-4 months, and do they have concerns that the information is accurate, given that Trump fires
anyone who reports numbers that he doesn't like. Mr. Grant said they have no reason so far not
to believe the information from the government, but added there are private reporting agencies
such as ADP with obj ective data.
Mr. Belisari asked if we have felt the real impact of tariffs yet as the inventory that was bought
up initially is now exhausted. Mr. Grant said prices are increasing, and even though tariffs are
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Pension Advisory Board
January 28, 2026
not considered inflationary in that they are a one-time increase, Trump's inconsistency remains a
concern. Mr. Dunn noted that increases in auto insurance are due in part to tariffs on auto parts.
Mr. Belisari asked how big the auto loan market is, expressing concern that we could experience
a crisis similar to that with the mortgage market in 2008. Mr. Grant said it was $146 Billion in
2023, adding that everything is interconnected. To fight inflation the Federal Reserve raises rates
which makes it harder for people to borrow money, which creates challenges for the labor market,
which can lead to an economic slowdown or recession - all interconnected.
Mr. Ellis asked how exposed the Township's pension plans are if there is a sharp equity correction.
Mr. Grant pointed to page 2.6 of the PFM Performance Review which shows the Police plan with
a 39% asset allocation to Domestic Equity, 21 % targeted to International, and 40% targeted to
Fixed Income. Should such an event occur, Mr. Grant said the PFM Investment Committee would
make changes to de-risk the plans to be overweight in Fixed Income and underweight in Equities.
He said PFM is constantly looking at this.
Referencing page 1.8 of the PFM Performance Review - "Factors to Consider over the Next 6-12
Months," Mr. Ellis said there appear to be more positive factors than previously, and he feels this
doesn't quite match the current situation. Mr. Grant said there are pockets of both beneficial and
non-beneficial, but acknowledged the trend is toward a potential economic slowdown.
Ms. Bailey felt the political risk concern should be higher as the US seems to be aggravating
NATO, and if the Federal Reserve Chairman becomes a pawn of the Trump administration, there
will be more volatility in the markets and even less trust in the Trump administration. Mr. Grant
said private companies like ADP can be objective and provide accurate data.
There was general discussion regarding the Pension Board's fiduciary duty to the Township
employees, and uneasiness felt by some employees. Mr. Grant offered to meet with employees.
It was pointed out that the PAB meetings are open to all interested employees. Ms. Partridge
said she believes overall employees are comfortable with the pension plan performance but are
scared by the current economy. Mr. Grant said the overarching goal of the PAB is to meet or
exceed the actuarial discount rate ( currently at 7%) over a long period of time.

Police Plan Performance:
The market value of the Police Plan as of December 31, 2025, is $25,917,981, and shows 2.23%
quarterly return and YTD 15.57%. As of January 1, 2025, the value was $23.2 million with
outflows of $808,000 (3.47%) and a year-end value of $25,917,981. This is a considerable gain.

Non-uniformed Plan Performance:
The Non-Uniformed Plan experienced similar results as the Police Plan. Market value as of
December 31, 2025, was $11,517,296 with a return for the quarter of 2.25% and 15.26% for the
year.

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Pension Advisory Board
January 28, 2026

OPEB Plan Performance:
The OPEB Plan market value as of December 31, 2025, was $4,255,498, with a quarterly return
of 2.25% and 15.22% for the year.
Mr. Bamber explained that the OCIO Investment Committee voted to remove the UBVFX
(Undiscovered Managers' Behavioral Value Fund) for three reasons: consistent style drift (moving
to mid-caps when it was hired as a small cap manager); significant year to date
underperformance; and loss of conviction in the manager. UBVFX was replaced wit h Pimco REI
US small fund (PMJIX). This change was made in all three plans.
General discussion continued regarding AI and data centers noting t he huge energy and water
resources they require. Mr. Weller noted t hat East Whiteland Township recently approved a 1.5
million sq. ft. data center to be constructed near the Malvern Hunt development.
Mr. Grant noted that Mr. Bamber had asked for information on the underlying holdings of one of
the real estate managers and two of t he infrastructure managers. Mr. Grant reported that Cohen
& Steers has 13% in data centers. New York Life Global Infrastructure Fund has 2.5% exposure
and Lazard Global has no exposure to data centers. He will discuss this further in April when Mr.
Bamber is present.
The I nvest ment Policy review will be on the April agenda, and Ms. Partridge will schedule John
Vargo, t he Township's actuary from Conrad Siegel, for the July meeting.

Adjournment
The meeting adjourned at 10:38 a.m.

Respectfully Submitted,

Caroline Partridge,

4

West
Whiteland
...,,;
.,...

DATE:

TO:
FROM :

SUBJECT:

MEMORANDUM
February 17, 2026
Volunteer Boards and Commissions
West W hiteland Township
Conflict of Interest and Abstention Guida nce

Quest ions sometimes arise about what constit utes a conflict of interest and what is
expected of members of West Whiteland Township's volunteer boards and commissions.
This memo provides refresher for current members and an introduction for new members.

1. Township Policy on Conflicts of Interest
All elected officials, volunteers, and staff are required to follow t he Pennsylvania Et hics
Act.
A conflict of interest occurs when a public official or volunteer uses t heir position for the
financial benefit of:
•
•
•

Themselves
An immediate family member (parents, siblings, spouse, or children)
A business with which t hey or an immediate family member are associated

"No public official or public employee shall engage in conduct that constitutes a conflict of
interest defined as use by a public official or public employee of the authority of his office
or employment or any confidential info rmation received through holding public office or
emp loyment for t he private pecuniary benefit of himself, a member of his immediate
family, or a business wit h which he or a member of his immediate family is associated."
Key Principle: Board members serve in an advisory capacity only and must base
recommendat ions solely on the facts presented during public meetings. Decisions cannot
be influenced by personal gain or outside interests.
Guiding Rule: When in doubt, don 't do it. If you are unsure whether a sit uation creates a
conflict or appearance of bias, err on t he side of caution, disclose it, and consider
abstaining.

2. Required Actions When a Conflict Arises

If you believe you have a financial conflict of interest on a matter before your Board or
Commission:
1. Announce the conflict before discussion begins.
2. Refrain from participating in discussion or voting on the matter.
3. Complete the attached Disclosure Form and submit it to the Commission
secretary.
The minutes of the meeting will note your abstention.

3. Situations Requiring Judgment
Some situations may not involve a direct financial interest but may involve significant
personal involvement with an applicant, project, or organization. In such cases:
•
•
•

Err on the side of transparency and impartiality.
Avoid even the appearance of bias.
When in doubt, don’t do it.

Examples:
•
•

Familiarity alone (e.g., your child participates in a youth league) generally does not
require abstention.
Active support or decision-making role in the project or applicant organization does
require abstention to avoid a perceived conflict.

4. Conclusion
West Whiteland Township deeply appreciates your time, dedication, and service. Adhering
to these policies protects public trust, transparency, and ethical decision-making. When in
doubt, don’t do it. Please contact the Township if you have questions or need clarification.

WEST WHITELAND TOWNSHIP
MEMORANDUM FOR DISCLOSING A CONFLICT OF INTEREST

2

(To be filed with the person responsible for recording meeting minutes)
Pursuant to Section 1103(j) of the Public Official and Employee Ethics Act, 65 Pa.C.S. §
1103(j), I, _______________________, in my capacity as _______________________ of West
Whiteland Township, am abstaining from agenda item ___________________ for the
regular/special meeting of _____________________, dated _____________________, relating to
_____________________, due to a conflict of interest under the Ethics Act.
Nature of interest:

Date: ___________________________________
Signature: ______________________________

3

INVESTMENT POLICY STATEMENT
FOR
WEST WHITELAND TOWNSHIP
POLICE PENSION PLAN
Approved March 10, 2021
Revised September 14, 2022

TABLE OF CONTENTS
SECTION

PAGE

Purpose ......................................................................................................................................... 3
Investment Authority .................................................................................................................... 3
Statement of Investment Objectives ............................................................................................. 4
Investment Guidelines .................................................................................................................. 5
Time Horizon
Liquidity and Diversification
Asset Allocation
Rebalancing Philosophy
Risk Tolerance
Performance Expectations
Selection of Investment Managers ................................................................................................ 7
Guidelines for Portfolio Holdings................................................................................................. 7
Direct Investments by Advisor
Limitations on Managers’ Portfolios
Portfolio Risk Hedging
Prohibited Portfolio Investments
Safekeeping
Control Procedures ..................................................................................................................... 10
Review of Investment Objectives
Review of Investment Performance
Voting of Proxies
Adoption of Investment Policy Statement ................................................................................... 11

2

West Whiteland Township has established a defined benefit pension fund, known as the West Whiteland
Township Police Pension Plan (the “Fund”). This Fund provides retirement benefits for those employees
who meet the age and service requirements outlined in the plan document. The Fund consists of
contributions from both West Whiteland Township and pension plan participants. The Board of
Supervisors for the Township with recommendation from the Pension Advisory Board hereby adopt this
Investment Policy Statement (“Policy Statement”) for the following purposes.

Purpose
The main investment objective of the Fund is to achieve long-term growth of Fund assets by maximizing
long-term rate of return on investments and minimizing risk of loss to fulfill West Whiteland Township’s
current and long-term pension obligations.
The purpose of this Policy Statement is to achieve the following:
1. Document investment objectives, performance expectations and investment guidelines for
Fund assets.
2. Establish an appropriate investment strategy for managing all Fund assets, including an
investment time horizon, risk tolerance ranges and asset allocation to provide sufficient
diversification and overall return over the long-term time horizon of the Fund.
3. Establish investment guidelines to control overall risk and liquidity.
4. Establish periodic performance reporting requirements to monitor investment results and
confirm that the investment policy is being followed.
5. Comply with fiduciary, prudence, due diligence and legal requirements for Fund assets.

Investment Authority
The West Whiteland Township has appointed a Pension Advisory Board (the “PAB”) to oversee certain
policies and procedures related to the operation and administration of the Fund. The PAB will have
authority to implement the investment policy and guidelines in the best interest of the Fund to best satisfy
the purposes of the Fund. In implementing this Policy Statement, the PAB may delegate certain
functions to:
1. An investment advisor (“Advisor”) to assist the PAB in the investment process and to maintain
compliance with this Policy Statement. The Advisor may assist the PAB in establishing
investment policy objectives and guidelines. The Advisor will adjust asset allocation for the
Fund subject to the guidelines and limitations set forth in this Policy Statement. The Advisor
will also select investment managers (“Managers”) and strategies consistent with its role as a
fiduciary for the Fund. The investment vehicles allowed may include mutual funds, commingled
trusts, separate accounts, limited partnerships and other investment vehicles deemed to be
appropriate by the Advisor. The Advisor is also responsible for monitoring and reviewing

3

investment managers; measuring and evaluating performance; and other tasks as deemed
appropriate in its role as Advisor for Fund assets. The Advisor may also select investments with
discretion to purchase, sell, or hold specific securities, such as Exchange Traded Funds, that will
be used to meet the Fund’s investment objectives. The Advisor shall never take possession of
securities, cash or other assets of the Fund, all of which shall be held by the custodian. The
Advisor must be registered with the Securities and Exchange Commission.
2. A custodian selected by the Fund to maintain possession of physical securities and records of
street name securities owned by the Fund, collect dividend and interest payments, redeem
maturing securities, and effect receipt and delivery following purchases and sales. The custodian
may also perform regular accounting of all assets owned, purchased, or sold, as well as movement
of assets into and out of the Fund.
3. A trustee appointed by the Fund, such as a bank trust department, if the Fund does not have its
own Trustees, to assume fiduciary responsibility for the administration of Fund assets; provided,
however, that if the PAB shall have appointed an investment advisor, then any trustee appointed
under this paragraph shall have no authority with respect to selection of investments.
4. Specialists such as attorneys, auditors, actuaries and, retirement plan consultants to assist the
PAB in meeting its responsibilities and obligations to administer Fund assets prudently.

Statement of Investment Objectives
The investment objectives of the Fund are as follows:
1. To invest assets of the Fund in a manner consistent with the following fiduciary standards:
(a) all transactions undertaken must be for the sole interest of Fund beneficiaries, and (b)
assets are to be diversified in order to minimize the impact of large losses from individual
investments.
2. To provide for funding and anticipated withdrawals on a continuing basis for payment of
benefits and reasonable expenses of operation of the Fund.
3. To enhance the value of Fund assets in real terms over the long-term through asset
appreciation and income generation, while maintaining a reasonable investment risk profile.
4. Subject to performance expectations over the long-term, to minimize principal fluctuations
over the Time Horizon (as defined below).
5. To achieve a long-term level of return commensurate with contemporary economic
conditions and equal to or exceeding the investment objective set forth in this Policy
Statement under the section labeled “Performance Expectations”.

4

Investment Guidelines
Within this section of the Policy Statement, several terms will be used to articulate various investment
concepts. The descriptions are meant to be general and may share investments otherwise considered to
be in the same asset class. They are:
"Growth Assets" - a collection of investments and/or asset classes whose primary risk and return
characteristics are focused on capital appreciation. Investments within the Growth Assets category can
include income and risk mitigating characteristics, so long as the predominant investment risk and
return characteristic is capital appreciation. Examples of such investments or asset classes are:
domestic and international equities or equity funds, private or leveraged equity, certain real estate
investments, and hedge funds focused on equity risk mitigation or equity-like returns.
"Income Assets" - a collection of investments and/or asset classes whose primary risk and return
characteristics are focused on income generation. Investments within the Income Assets category can
include capital appreciation and risk mitigating characteristics, so long as the primary investment risk
and return characteristic is income generation. Examples of such investments or asset classes are:
fixed income securities, guaranteed investment contracts, certain real estate investments, and hedge
funds focused on interest rate risk mitigation or income investment-like returns.
"Real Return Assets" - a collection of investments and/or asset classes whose primary risk and return
characteristics are focused on real returns after inflation. Investments within the Real Return category
can include inflation protected securities, commodities, certain real estate investments and hedge
funds.
Having carefully examined Environmental, Social, and Governance (“ESG”) investing principles,
The the advisor is permitted in some instances to integrate ESG factors into their investment analysis,
if the investment is determined to be the best available option. As with other matters relating to the
Trust, while incorporating ESG investing principles into the portfolio construction process, the
management and investment decisions about an individual asset shall not be made in isolation, but
rather in the context of the Trust’s investments as a whole and as part of the overall investment
strategy.
Time Horizon
The Fund’s investment objectives are based on a long-term investment horizon (“Time Horizon”) of five
years or longer. Interim fluctuations should be viewed with appropriate perspective. The PAB has
adopted a long-term investment horizon such that the risks and duration of investment losses are
carefully weighed against the long-term potential for appreciation of assets.
Liquidity and Diversification

5

In general, the Fund may hold some cash, cash equivalent, and/or money market funds for near-term
Fund benefits and expenses (the “Fund Distributions”). Remaining assets will be invested in longer-term
investments and shall be diversified with the intent to minimize the risk of long-term investment losses.
Consequently, the total portfolio will be constructed and maintained to provide diversification with
regard to the concentration of holdings in individual issues, issuers, countries, governments or industries.
Asset Allocation
The PAB believes that to achieve the greatest likelihood of meeting the Fund’s investment objectives
and the best balance between risk and return for optimal diversification, assets will be invested in
accordance with the targets for each asset class as follows to achieve an average total annual rate of
return that is equal to or greater than the Fund’s target rate of return over the long-term, as described in
the section titled “Performance Expectations”.
Asset Weightings
Range
Target

Asset Classes
Growth Assets
Domestic Equity
International Equity
Other

19% - 59%
1% - 41%
0% - 20%

39%
21%
0%

Income Assets
Fixed Income
Other

20% - 60%
0% - 20%

40%
0%

Real Return Assets

0% - 20%

0%

Cash Equivalents

0% - 20%

0%

The Advisor and each Manager will be evaluated against their peers on the performance of the total
funds under their direct management.
Rebalancing Philosophy
The asset allocation range established by this Policy Statement represents a long-term perspective. As
such, rapid unanticipated market shifts or changes in economic conditions may cause the asset mix to
fall outside Policy Statement ranges. When allocations breach the specified ranges, the Advisor will
rebalance the assets within the specified ranges. The Advisor may also rebalance based on market
conditions.

6

Risk Tolerance
Subject to investment objectives and performance expectations, the Fund will be managed in a style that
seeks to minimize principal fluctuations over the established Time Horizon.
Performance Expectations
Over the long-term, five years or longer, the performance objective for the Fund will be to achieve an
average total annual rate of return that is equal to or greater than the Fund’s 7% actuarial discount rate.
Additionally, it is expected that the annual rate of return on Fund assets will be commensurate with the
then prevailing investment environment. Measurement of this return expectation will be judged by
reviewing returns in the context of industry standard benchmarks, peer universe comparisons for
individual Fund investments and blended benchmark comparisons for the Fund in its entirety.

Selection of Investment Managers
The Advisor shall prudently select appropriate Managers to invest the assets of the Fund. Managers
must meet the following criteria:
− The Manager must provide historical quarterly performance data compliant with Global Investment
Performance Standards (GIPS®), Securities & Exchange Commission (“SEC”), Financial Industry
Regulatory Agency (“FINRA”) or industry recognized standards, as appropriate.
− The Manager must provide detailed information on the history of the firm, key personnel, support
personnel, key clients, and fee schedule (including most-favored-nation clauses). This information
can be a copy of a recent Request for Proposal (“RFP”) completed by the Manager or regulatory
disclosure.
− The Manager must clearly articulate the investment strategy that will be followed and document that
the strategy has been successfully adhered to over time.
− The investment professionals making the investment decisions must have a minimum of three (3)
years of experience managing similar strategies either at their current firm or at previous firms.
− Where other than common funds such as mutual funds or commingled trusts are utilized, the Manager
must confirm receipt, understanding and adherence to this Policy Statement and any investment
specific policies by signing a consent form provided to the Manager prior to investment of Fund
assets.

Guidelines for Portfolio Holdings
Direct Investments by Advisor
Every effort shall be made, to the extent practical, prudent and appropriate, to select investments that
have investment objectives and policies that are consistent with this Policy Statement (as outlined in the
following sub-sections of the “Guidelines for Portfolio Holdings”). However, given the nature of the

7

investments, it is recognized that there may be deviations between this Policy Statement and the
objectives of these investments.
Limitations on Managers’ Portfolios
EQUITIES
No more than the greater of 5% or weighting in the relevant index (Russell 3000 Index for U.S. issues
and MSCI ACWI ex-U.S. for non-U.S. issues) of the total equity portfolio valued at market may be
invested in the common equity of any one corporation; ownership of the shares of one company shall
not exceed 5% of those outstanding; and not more than 40% of equity valued at market may be held in
any one sector, as defined by the Global Industry Classification Standard (GICS).
Domestic Equities. Other than the above constraints, there are no quantitative guidelines as to issues,
industry or individual security diversification. However, prudent diversification standards should be
developed and maintained by the Manager.
International Equities. The overall non-U.S. equity allocation should include a diverse global mix that
is comprised of the equity of companies from multiple countries, regions and sectors.
FIXED INCOME
Fixed income securities of any one issuer shall not exceed 5% of the total bond portfolio at time of
purchase. The 5% limitation does not apply to issues of the U.S. Treasury or other Federal Agencies.
The overall rating of the fixed income assets as calculated by the Advisor shall be investment grade,
based on the rating of one Nationally Recognized Statistical Rating Organization (“NRSRO”).
OTHER ASSETS (ALTERNATIVES)
Alternatives may consist of non-traditional asset classes such as hedge funds, private equity, private debt
and real assets, when deemed appropriate. The total allocation to this category may not exceed 30% of
the overall portfolio.
Diversifying (e.g. Hedge Funds & Liquid Alternatives): Primary objective shall be to enhance the riskreturn profile of the overall portfolio. This can be accomplished by using a combination of hedge fund
and/or liquid alternative strategies that may enhance returns at a reasonable level of risk or reduce
volatility while providing a reasonable level of return. These asset classes may differ from traditional
public market asset classes due to the use of certain strategies including short-selling, leverage, and
derivatives. Hedge funds and liquid alternatives may also invest across asset classes. The use of direct
hedge funds and fund-of-hedge funds are allowed. For purposes of asset allocation targets and
limitations, single strategy hedge funds and liquid alternatives funds will be categorized under the
specific asset class of the fund. For example, a long/short U.S. equity fund will be categorized as “Other”
in the Growth Assets category while a long/short credit fund will be categorized as “Other” in the Income
Assets category. Multi-strategy hedge funds and multi-strategy liquid alternatives funds that cannot be
easily categorized under one asset class will be included in “Other” under either the Growth Assets or
Income Assets category depending on the risk-return profile of the strategy.
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Private Equity: Private equity is less liquid than publicly traded equity securities and can provide returns
that are greater than what is available in publicly traded markets. The private equity portfolio may
include investments in a variety of commingled/partnership and direct investment vehicles including,
but not limited to, venture capital, buyout, turnaround, mezzanine, distressed security, and special
situation funds. The private equity portfolio is recognized to be long-term in nature and highly illiquid.
Due to their higher risk, private equity investments are expected to provide higher returns than publicly
traded equity securities. For purposes of asset allocation targets and limitations, these funds will be
categorized as “Other” under the Growth Assets category.
Private Debt: Private debt is less liquid than publicly trade debt and can provide returns that are greater
than what is available in publicly traded markets. The private debt portfolio may include investments in
a variety of commingled/partnership and direct investment vehicles including, but not limited to, direct
lending, distressed debt, multi-asset credit, structured credit, mezzanine debt, real estate debt, and special
situations. Due to their higher risk, private debt investments are expected to provide higher long-term
returns than publicly traded debt securities. For purposes of asset allocation targets and limitations, these
funds will be categorized as “Other” under the Income Assets category.
Real Assets: Real assets are typically physical assets that have intrinsic worth due to their substance and
properties. Real assets are primarily used for their lower correlation to traditional assets (i.e. stocks and
bonds) and their inflation hedging properties. Categories of real asset investments include, but are not
limited to, real estate, infrastructure, land, farmland, timberland, precious metals, and commodities. Real
assets includes securities and assets with varying levels of liquidity. Private real assets are illiquid and
long-term in nature, whereas public real assets are publicly traded and more liquid. The benefit of lower
correlation investments is that, when implemented correctly, these investments can potentially improve
a portfolio’s expected risk-adjusted return over the long-term. The real assets category can be extended
to include other forms of assets that offer similar inflation hedging properties such as pooled vehicles
holding: commodities contracts, Treasury Inflation Protected Securities (“TIPS”), index-linked
derivative contracts, certain forms of intellectual property, and the equity of companies in businesses
thought to hedge inflation. For purposes of asset allocation targets and limitations, real assets may be
categorized as “Other” under either the Growth Assets or Income Assets category or in the Real Return
Assets category, depending on the nature and risk/return profile of the investment.
CASH EQUIVALENTS
Cash equivalents shall be held in funds complying with Rule 2(a)-7 of the Investment Company Act of
1940.
Portfolio Risk Hedging
Portfolio investments designed to hedge various risks including volatility risk, interest rate risk, etc. are
allowed to the extent that the investments are not used for the sole purpose of leveraging Fund assets.
One example of a hedge vehicle is an exchange traded fund (“ETF”) which takes short positions.

9

Prohibited Investments
Except for purchase within authorized investments, securities having the following characteristics are
not authorized and shall not be purchased: letter stock and other unregistered securities, direct
commodities or commodity contracts, or private placements (with the exception of Rule 144A
securities). Further, derivatives, options, or futures for the sole purpose of direct portfolio leveraging
are prohibited. The Advisor will oversee this restriction with Investment Managers on a best effort
basis.
Safekeeping
All assets of the Fund shall be held by a custodian approved by the PAB for safekeeping of Fund assets.
The custodian shall produce statements on a monthly basis, listing the name and value of all assets held,
and the dates and nature of all transactions in accordance with the terms in the Custodial Agreement.
Investments of the Fund not held as liquidity or investment reserves shall, at all times, be invested in
interest-bearing accounts. Investments and portfolio securities may not be loaned.

Control Procedures
Review of Investment Objectives
The Advisor shall review annually and report to the PAB the appropriateness of this Policy Statement
for achieving the Fund’s stated objectives. It is not expected that this Policy Statement will change
frequently. In particular, short-term changes in the financial markets should not require an adjustment
in this Policy Statement.
Review of Investment Performance
The Advisor shall report on a quarterly basis to the PAB to review the investment performance of the
Fund. In addition, the Advisor will be responsible for keeping the PAB advised of any material change
in investment strategy, Managers, and other pertinent information potentially affecting performance of
the Fund.
The Advisor shall compare the investment results on a quarterly basis to appropriate peer universe
benchmarks, as well as market indices in both equity and fixed income markets. Examples of
benchmarks and indexes that will be used include the Russell 3000 Index for broad U.S. equity strategies;
S&P 500 Index for large cap U.S. equities, Russell 2000 Index for small cap U.S. equities, MSCI ACWI
ex-U.S. Index for broad based non-U.S. equity strategies, MSCI Europe, Australasia, and Far East
(EAFE) Index for developed markets international equities, Bloomberg Barclays U.S. Aggregate Bond
Index for fixed income securities, and the U.S. 91 Day T-bill for cash equivalents. The Russell 3000
Index will be used to benchmark the U.S. equities portfolio; the MSCI ACWI ex-U.S. Index will be used
to benchmark the non-U.S. equities portfolio; the Bloomberg Barclays U.S. Aggregate Bond Index will

10

be used to benchmark the fixed income portfolio. The categories “Other” will be benchmarked against
appropriate indices depending on the specific characteristics of the strategies and funds used.
Voting of Proxies
The PAB recognizes that proxies are a significant and valuable tool in corporate governance. The
voting rights of individual stocks held in separate accounts or collective, common, or pooled funds will
be exercised by the investment managers in accordance with their own proxy voting policies. The
voting rights of funds will be exercised by the Advisor.

11

n Envelope ID: C23D18D4-DADF-4480-BF1E-1ED225BD00OE

Adoption of Investment Policy Statement
Any changes and exceptions to this Policy Statement will be made in writing and adopted by the Board
of Supervisors. Once adopted, changes and exceptions will be delivered to each Manager, as appropriate,
by the Advisor.

Approved by the West Whiteland Township Board of Supervisors:

Chair

~
/

w.~

.-Vice-Chair

3/ 18/ 2021

3/ 18/2021

Date

Date

3/ 18/2021

Date

12

ADDENDUM TO INVESTMENT POLICY STATEMENT
This Addendum is part of the Investment Policy Statement (the " IPS") of the West White land
Township Police Pension Plan (t he "Fund"). The Pension Advisory Board (t he "PAB") believes t hat to achieve the
greatest likelihood of meeting the Fund's objectives and to allow for proper diversification, t he following
paragraphs of the IPS are hereby amended as follows:

Removals
The "real return" asset class is removed from the /PS, inclusive of the definition in investment guidelines, the
target a/locations in the asset a/location table, and the limitation on managers' portfolios paragraph.

Additions
1.

The "fisted real assets" asset class is added to the /PS, with the corresponding definition in investment
guidelines, a target a/location in the asset a/location table, and limitation on managers' portfolios
paragraph.

2.

Within the a/location table, strategic target a/locations to below investment grade fixed income, listed
real estate and listed infrastructure sub-asset classes are being added.

Updates
1.

The descriptions of asset classes in the investment guidelines, the asset a/location table, and the
limitation on managers' portfolios are being updated to reflect our current views on strategic asset
a/location.

2.

Within the review of investment performance section, the benchmarking language is being updated to
include the additional asset classes.

The revisions above are hereby amended as follows:

Investment Guidelines
W ithin t his section of the IPS, severa l terms w ill be used to articulate various investment concepts. The
descriptions are meant to be general and may share investment s otherwise considered to be in the same asset
class. They are :
" Equity Assets" - a collection of investments and/or asset classes whose primary risk and return characteristics
are focused on capit al appreciation. Investments within the Equity Assets category can include income and
risk mitigating characterist ics, so long as t he predominant investment risk and ret urn charact eristic is capita l
appreciation. Exam ples of such investments or asset classes are: publicly t raded domest ic and int ernationa l
equities, or equity funds and publicly traded investments focused on equity risk m itigation or equity-like
returns.
" Fixed Income Assets" - a collection of investments and/or asset classes w hose primary risk and ret urn
characteristics are focused on income generation. Invest ments w ithin t he Fixed Income Assets category can

include capital appreciation and risk m itigating characteristics, so long as the primary investment risk and
return characteristic is income generation. Examples of such investments or asset classes are: fixed income
securities or funds that are rated investment grade and below investment grade, along with inflation protected
securities, guaranteed investment contracts, and certain other investments focused on interest rate risk
m itigation and income-like returns.
" Listed Real Assets" - a collection of investments and/ or asset classes w hose primary risk and return
characteristics are derived from real assets that include but are not limited to listed rea l estate, listed
infrastructure, commodit ies and natural resources.
"Alternative Assets" - a collection of liquid alternatives and private investments in asset classes w hose primary
risk and return characteristics are either capital appreciation, income generation, and/ or rea l returns after
inflation. Investments w ithin the Alternative Assets category can include private equity, private debt, private
real assets and other non-traditiona l assets/ strategies that are expected to provide diversification benefits
relative to traditional asset classes.
In line with the revised asset classes the asset a /location table is updated as follows:
Asset Weightings
Range

Target

16% - 56%
1% - 38%
0% -20%

36%
18%
0%

17% - 57%
0% -23%
0% -20%

37%
3%
0%

Listed Real Assets
Listed REITs
Listed Infrastructure
Other

0% -23%
0% -23%
0% -20%

3%
3%
0%

Cash Equivalents

0% -20%

0%

Asset Classes
Equity Assets

Domestic Equit y
International Equity
Other
Fixed Income Assets

Investment Grade
Below Investment Grade
Other

The limitation on managers' portfolios section is updated as follows:

LISTED REAL ASSETS

Listed Rea l Assets may consist of but are not limited to publicly traded real estate (REIT), publicly traded global
infrastructure and infrastructure related companies, listed commodities and listed natural resources.
Al TERNA TIVE ASSETS

Alternatives may consist of non-traditional asset classes such as private equity, private debt real assets, and
hedge funds/diversifying assets, when deemed appropriate.
Private Equity: Private equity is less liquid than publicly traded equity securities and can provide returns that are
greater than what is available in publicly traded markets. The private equity portfolio may include investments
in a variety of commingled/partnership and direct investment vehicles including, but not limited to, venture
capita l, buyout, turnaround, mezzanine, distressed security, and special situation funds. The private equity
portfolio is recognized to be long-term in nature and highly illiquid. Due to their higher risk, private equity
investments are expected to provide higher returns than publicly traded equity securities.
Private Debt: Private debt is less liquid than publicly traded debt and can provide returns that are greater than
what is available in publicly traded markets. The private debt portfolio may include investments in a variety of
commingled/partnership and direct investment vehicles including, but not limited to, direct lending, distressed
debt, multi-asset credit, structured credit, mezzanine debt, rea l estate debt, and special situations. Due to their
higher risk, private debt investments are expected to provide higher long-term returns than publicly traded debt
securities.
Private Real Assets: Private Real assets are less liquid than publicly traded real assets and can provide returns
that are greater than what is available in publicly traded markets. The private real assets portfolio may include
investments in physical assets that have intrinsic worth due to their substance and properties. Private Real assets
are primarily used for their lower correlation to traditiona l assets (i.e. stocks and bonds) and their inflation
hedging properties. Categories of private real asset investments include, but are not limited to, real estate,
infrastructure, land, farmland, t imberland, precious metals, and commodities. The benefit of lower correlation
investments is that, when implemented correctly, these investments can potentially improve a portfolio's
expected risk-adjusted return over the long term. The private real assets category can be extended to include

other forms of assets that offer similar inflation hedging properties such as pooled vehicles holding, commodities
contracts, index-linked derivative contracts, and certain forms of intellectual property.
Hedge Funds/Diversifying (collectively. " Hedge Funds" ): Hedge Funds are typically less liquid than publicly
traded funds and are expected to provide volatility and/or other risk dampening effects on the portfolio.
Examples of risks that may be hedged include but are not limited to volatility risk, interest rate risk, and market
tail risk. Hedge Funds may include investments in a wide variety of comm ingled/partnership and direct
investment including but not limited to liquid alternative funds, exchange traded funds (" ETF"), equity securit ies,
debt securit ies, and/or derivative contracts of various types. Hedge Funds may not produce returns greater than
publicly traded equity securities or debt securities but are expected to reduce overa ll portfolio risk.

The review of investment performance section of the with the changes incorporated is as follows:

Review of Investment Performance
The Advisor sha ll report on a quarterly basis to the Committee to review the investment performance of the
Fund. In addition, the Advisor w ill be responsible for keeping the Committee advised of any material change in
investment strategy, Managers, and other pertinent information potentially affecting performance of the Fund.
The Advisor shall compare the investment results on a quarterly basis to appropriate peer universe benchmarks,
as well as market indices in equity, fixed income, and alternatives markets. Examples of benchmarks and indexes
that may be used include, but are not limited to, the Russell 3000 Index for broad U.S. equity strategies, Russell
1000 Index for large cap U.S. equities, Russell 2000 Index for sma ll cap U.S. equities, MSCI ACWI ex-U .S. Index
for broad based non-U .S. equity strategies; MSCI Europe, Australasia, and Far East (EAFE) Index for developed
markets international equities, Bloomberg U.S. Aggregate Bond Index for investment grade fixed income, ICE
BofA U.S. High Yield Index for below investment grade fixed income and the ICE BofA 3-Month U.S. T-Bi ll for cash
equivalents. Any additional asset classes and strategies will be benchmarked against appropriate indices
depending on the specific characteristics of the strategies and funds used .

This Addendum is effective on the execution date of this document and supersedes any oral or written
guidelines expressed previously.
Approved by the West Whiteland Board of Supervisors:

Chair

Vice-Chair

Date

Date

M ember

Member

Date

Date

00082201
54- -01-B -62 -094-01
0101 -11-04522-01

-

[!Ljbank.

Account Number:
WEST WHITELAND TOWNSHIP POLICE
PENSION PLAN

This statement is for the period from March 1, 2026 to March 31, 2026

Questions?
If you have any questions regarding your account or this
statement, please contact your Account Manager.
Account Manager:
ANGELA HANSEN
60 LIVINGSTON AVE
EP-MN-WS4E
ST. PAUL, MN 55107
Phone: 651-466-6390
E-mail: [email protected]

TFFTDAAATTTTATAAAAFAFFFFAATDDATDATDDDDAADATFFTFDAADTDTFTFTFADAAFT

00000000822 000638155334092 P

WEST WHITELAND TOWNSHIP
ATTN: CAROLINE PARTRIDGE
101 COMMERCE DRIVE
EXTON PA 19341-2726

00082201
54- -01-B -62 -094-01
0101 -11-04522-01
WEST WHITELAND POLICE PENSION
ACCOUNT

[!ljbank®
Page 2 of 23
Period from March 1, 2026 to March 31, 2026

TABLE OF CONTENTS
Schedule

Page

Market And Cost Reconciliation .........................................................................................................................................................................
Cash Reconciliation ............................................................................................................................................................................................
Asset Summary ....................................................................................................................................................................................................
Asset Detail ..........................................................................................................................................................................................................
Income Accrual Detail .........................................................................................................................................................................................
Contribution Activity .............................................................................................................................................................................................
Benefit Activity......................................................................................................................................................................................................
Investment Activity ...............................................................................................................................................................................................
Plan Expenses .....................................................................................................................................................................................................
Other Activity ........................................................................................................................................................................................................
Purchases ............................................................................................................................................................................................................
Sales And Maturities ...........................................................................................................................................................................................
Broker Commissions ...........................................................................................................................................................................................

3
5
7
8
12
13
14
15
17
18
19
21
23

00082201
54- -01-B -62 -094-01
0101 -11-04522-01
WEST WHITELAND POLICE PENSION
ACCOUNT

[!ljbank®
Page 3 of 23
Period from March 1, 2026 to March 31, 2026

MARKET AND COST RECONCILIATION
03/31/2026
MARKET

03/31/2026
BOOK VALUE

26,582,523.24

24,132,061.94

14,643.31

14,643.31

14,643.31

14,643.31

- 97,795.20

- 97,795.20

- 97,795.20

- 97,795.20

811.60
61,903.11
30,995.40
- 1,299,569.92
- 82.16

811.60
61,903.11
30,995.40
.00
- 82.16

- 1,205,941.97

93,627.95

- 5,322.17
- 551.29

- 5,322.17
- 551.29

- 5,873.46

- 5,873.46

- 1,772.34

- 1,772.34

- 1,772.34

- 1,772.34

Net Change In Market And Cost

- 1,296,739.66

2,830.26

Ending Market And Cost

25,285,783.58

24,134,892.20

Beginning Market And Cost
Contribution Activity
Employee Contributions
Total Contribution Activity
Benefit Activity
Benefits Payments
Total Benefit Activity
Investment Activity
Interest
Dividends
Realized Gain/Loss
Change In Unrealized Gain/Loss
Net Accrued Income (Current-Prior)
Total Investment Activity
Plan Expenses
Administrative Expenses*
Trust Fees
Total Plan Expenses
Other Activity
Miscellaneous Disbursements
Total Other Activity

CP 4/16/2026; AGREES TO TB

00082201
54- -01-B -62 -094-01
0101 -11-04522-01
WEST WHITELAND POLICE PENSION
ACCOUNT

MARKET AND COST RECONCILIATION MESSAGES
* Includes Professional Fees, Contract Administrator Fees and Investment Advisory Fees

[!ljbank®
Page 4 of 23
Period from March 1, 2026 to March 31, 2026

00082201
54- -01-B -62 -094-01
0101 -11-04522-01
WEST WHITELAND POLICE PENSION
ACCOUNT

[!ljbank®
Page 5 of 23
Period from March 1, 2026 to March 31, 2026

CASH RECONCILIATION
Beginning Cash

.00

Contribution Activity
Employee Contributions
Total Contribution Activity

14,643.31
14,643.31

Benefit Activity
Benefits Payments
Total Benefit Activity

- 97,795.20
- 97,795.20

Investment Activity
Interest
Dividends
Cash Equivalent Purchases
Purchases
Cash Equivalent Sales
Sales/Maturities
Total Investment Activity

811.60
61,903.11
- 158,917.45
- 529,621.63
106,606.78
610,015.28
90,797.69

Plan Expenses
Administrative Expenses*
Trust Fees
Total Plan Expenses

- 5,322.17
- 551.29
- 5,873.46

Other Activity
Miscellaneous Disbursements

- 1,772.34

Total Other Activity

- 1,772.34

Net Change In Cash

.00

Ending Cash

.00

00082201
54- -01-B -62 -094-01
0101 -11-04522-01
WEST WHITELAND POLICE PENSION
ACCOUNT

CASH RECONCILIATION MESSAGES
* Includes Professional Fees, Contract Administrator Fees and Investment Advisory Fees

[!ljbank®
Page 6 of 23
Period from March 1, 2026 to March 31, 2026

00082201
54- -01 -B -62 -094-01
0101 -11 -04522-01

rm3bank.

WEST WHITELAND POLI CE PENSION
ACCOUNT

Page 7 of 23
Period from March 1, 2026 to March 31 , 2026

¾ OF
03/31 /2026
BOOK VALUE MARKET

ASSETS

03/31 /2026
MARKET

Cash And Equivalents

276,399.11

276,399.11

1.10

Mutual Funds-Equity

15,470,447.11

13,859,953.43

61.18

Mutual Funds-Fixed Income

9,538,207.92

9,997,810.22

37.72

Total Assets

25 285 054.14

24 134 162.76

100.00

729.44

729.44

0.00

25 285 783.58

24 134 892.20

100.00

Accrued Income
Grand Total

Estimated Annual Income

•

•; . •,:· , • -:••:· .• -: - ••;•• -: -•:••-: · ;< .. • •

724,891.68

•

A$~~tiijv~M~Rt :!~~~s~$~~!}::: :·!HI:1:H!:
Estimated Annual Income is an estimate provided for informational purposes only
and should not be relied on for making investment, trading, or tax decisions. The
estimates may not represent the actual value earned by your investments and
they provide no guarantee of what your investments may earn in the future.

MUTUAL FUND
CASH EQUIV & ACCR

00082201
54- -01-B -62 -094-01
0101 -11-04522-01

[!ljbank®

WEST WHITELAND POLICE PENSION
ACCOUNT

Page 8 of 23
Period from March 1, 2026 to March 31, 2026

ASSET DETAIL
SHARES/
FACE AMOUNT

MARKET
PRICE/UNIT

BOOK VALUE

276,399.110

276,399.11
1.0000

276,399.11

Total Money Markets

276,399.110

276,399.11

Total Cash And Equivalents

276,399.110

Columbia
Small Cap Growth Inst3
19765Y340 Asset Minor Code 98

UNREALIZED
GAIN (LOSS)
SINCE INCEPTION/
CURRENT PERIOD

ENDING
ACCRUAL

YIELD ON
MARKET

.00
.00

729.44

3.53

276,399.11

.00
.00

729.44

3.53

276,399.11

276,399.11

.00
.00

729.44

3.53

7,411.715

245,698.35
33.1500

242,301.80

3,396.55
- 46,949.63

.00

0.00

Fidelity
International Index Fund
315911727 Asset Minor Code 98

29,721.875

1,824,328.69
61.3800

1,671,055.69

153,273.00
- 163,470.31

.00

6.25

Fidelity
Emerging Markets Index Fund
316146331 Asset Minor Code 98

53,157.125

752,173.32
14.1500

611,557.61

140,615.71
- 79,204.12

.00

2.28

Goldman Sachs
Gqg Ptnrs Intl Opps R6
38147N269 Asset Minor Code 98

28,402.399

668,308.45
23.5300

567,908.18

100,400.27
- 36,923.12

.00

2.45

Ishares
Russell 2000 Etf
464287655 Asset Minor Code 94

1,913.000

474,424.00
248.0000

503,749.72

- 29,325.72
- 29,325.72

.00

1.02

DESCRIPTION

Cash And Equivalents
Money Markets
First Am Govt
Ob Fd Cl Z
31846V567 Asset Minor Code 1

Mutual Funds
Mutual Funds-Equity

00082201
54- -01-B -62 -094-01
0101 -11-04522-01

[!ljbank®

WEST WHITELAND POLICE PENSION
ACCOUNT

Page 9 of 23
Period from March 1, 2026 to March 31, 2026

ASSET DETAIL (continued)
SHARES/
FACE AMOUNT

MARKET
PRICE/UNIT

BOOK VALUE

Janus
Henderson Overseas N
47103D835 Asset Minor Code 98

15,923.674

910,993.39
57.2100

813,182.69

Mfs Intl
Diversificat R6
552743544 Asset Minor Code 98

43,878.513

1,216,751.17
27.7300

Pimco Rae US
Small Instl
72202L421 Asset Minor Code 98

21,981.990

Schwab U S
Large Cap Etf
808524201 Asset Minor Code 94

UNREALIZED
GAIN (LOSS)
SINCE INCEPTION/
CURRENT PERIOD

ENDING
ACCRUAL

YIELD ON
MARKET

97,810.70
- 82,962.34

.00

1.41

1,154,798.66

61,952.51
- 120,227.12

.00

2.39

258,288.38
11.7500

266,100.47

- 7,812.09
- 14,487.07

.00

1.15

355,674.000

9,119,481.36
25.6400

8,029,298.61

1,090,182.75
- 505,057.08

.00

1.17

558,064.291

15,470,447.11

13,859,953.43

1,610,493.68
- 1,078,606.51

.00

1.96

Baird Core
Plus Bond Fund Institut
057071870 Asset Minor Code 99

259,151.552

2,640,754.31
10.1900

2,846,169.30

- 205,414.99
- 59,316.11

.00

4.30

Ishares Core
U.S. Aggregate Bond Etf
464287226 Asset Minor Code 95

27,806.000

2,760,301.62
99.2700

2,707,393.85

52,907.77
- 63,727.32

.00

3.94

Pgim Total
Return Bond Cl R6
74440B884 Asset Minor Code 99

143,707.337

1,731,673.41
12.0500

1,916,735.70

- 185,062.29
- 41,516.16

.00

4.65

Nuveen Core
Bond Fund R6
87244W607 Asset Minor Code 99

160,574.634

1,472,469.39
9.1700

1,470,274.38

2,195.01
- 35,188.04

.00

4.42

Voya
Intermediate Bond Fund Class R6
92913L569 Asset Minor Code 99

106,507.898

933,009.19
8.7600

1,057,236.99

- 124,227.80
- 21,215.78

.00

4.71

DESCRIPTION

Total Mutual Funds-Equity
Mutual Funds-Fixed Income

00082201
54- -01-B -62 -094-01
0101 -11-04522-01

[!ljbank®

WEST WHITELAND POLICE PENSION
ACCOUNT

Page 10 of 23
Period from March 1, 2026 to March 31, 2026

ASSET DETAIL (continued)
SHARES/
FACE AMOUNT

MARKET
PRICE/UNIT

BOOK VALUE

697,747.421

9,538,207.92

9,997,810.22

Total Mutual Funds

1,255,811.712

25,008,655.03

Total Assets

1,532,210.822

DESCRIPTION

Total Mutual Funds-Fixed Income

Accrued Income
Grand Total

UNREALIZED
GAIN (LOSS)
SINCE INCEPTION/
CURRENT PERIOD

ENDING
ACCRUAL

YIELD ON
MARKET

- 459,602.30
- 220,963.41

.00

4.31

23,857,763.65

1,150,891.38
- 1,299,569.92

.00

2.85

25,285,054.14

24,134,162.76

1,150,891.38
- 1,299,569.92

729.44

2.86

.000

729.44

729.44

1,532,210.822

25,285,783.58

24,134,892.20

ASSET DETAIL MESSAGES
Time of trade execution and trading party (if not disclosed) will be provided upon request.
Publicly traded assets are valued in accordance with market quotations or valuation methodologies from financial industry services believed by us to be reliable. Assets that are not
publicly traded may be reflected at values from other external sources. Assets for which a current value is not available may be reflected at a previous value or as not valued, at par value,
or at a nominal value. Values shown do not necessarily reflect prices at which assets could be bought or sold. Values are updated based on internal policy and may be updated less
frequently than statement generation.
For further information, please contact your account manager or relationship manager.
We provide a cash management administrative service for the temporary investment of principal and income balances in your account. The fee for providing this service will not exceed
$0.42 per month for each $1,000 of the average daily balance invested under the cash management administrative service. The charge for this service has been deducted from your
account.

00082201
54- -01-B -62 -094-01
0101 -11-04522-01
WEST WHITELAND POLICE PENSION
ACCOUNT

[!ljbank®
Page 11 of 23
Period from March 1, 2026 to March 31, 2026

ASSET DETAIL MESSAGES (continued)
Yield on Market and Accrued Income are estimates provided for informational purposes only and should not be relied on for making investment, trading, or tax decisions. The estimates
may not represent the actual value earned by your investments and they provide no guarantee of what your investments may earn in the future.
The asset categories used in this statement may be general in nature. For example, assets listed under the "Mutual Funds" category may include open-end investment companies
registered under the Investment Company Act of 1940 (which are commonly known as "mutual funds") but may also include closed-end investment companies, unit investment trusts,
common trust funds, collective trust funds or other investments that are registered with (or not subject to registration with) the Securities and Exchange Commission.

00082201
54- -01-B -62 -094-01
0101 -11-04522-01

[!ljbank®

WEST WHITELAND POLICE PENSION
ACCOUNT

Page 12 of 23
Period from March 1, 2026 to March 31, 2026

INCOME ACCRUAL DETAIL
SHARES/
FACE AMOUNT

DESCRIPTION

EX
DATE

PAY ANN
DATE RATE

BEGINNING
ACCRUAL

INCOME
EARNED

INCOME
RECEIVED

ENDING
ACCRUAL

0.04

811.60

729.44

811.60

729.44

811.60

729.44

811.60

729.44

2.54

.00

845.60

845.60

.00

0.30

.00

26,035.34

26,035.34

.00

.00

26,880.94

26,880.94

.00

Cash And Equivalents
276,399.110

First Am Govt Ob Fd Cl Z
31846V567

04/01/26

Total Cash And Equivalents
Mutual Funds-Equity
1,913.000
355,674.000

Ishares Russell 2000 Etf
464287655

03/17/26 03/20/26

Schwab U S Large Cap Etf
808524201

03/25/26 03/30/26

Total Mutual Funds-Equity
Mutual Funds-Fixed Income
259,151.552

Baird Core Plus Bond Fund Institut
057071870
03/27/26 03/30/26

0.44

.00

9,740.62

9,740.62

.00

27,806.000

Ishares Core U.S. Aggregate Bond Etf
464287226
03/02/26 03/05/26

3.91

.00

9,150.26

9,150.26

.00

143,707.337

Pgim Total Return Bond Cl R6
74440B884

0.56

.00

6,605.42

6,605.42

.00

12/22/22 03/31/26

Nuveen Core Bond Fund R6
87244W607

0.41

.00

5,768.27

5,768.27

.00

03/31/26 04/01/26
0.41

.00

3,757.60

3,757.60

.00

.00

35,022.17

35,022.17

.00

811.60

62,632.55

62,714.71

729.44

160,574.634
106,507.898

Voya Intermediate Bond Fund Class R6
92913L569
03/31/26 03/31/26

Total Mutual Funds-Fixed Income
Grand Total

00082201
54- -01-B -62 -094-01
0101 -11-04522-01

[!ljbank®

WEST WHITELAND POLICE PENSION
ACCOUNT

Page 13 of 23
Period from March 1, 2026 to March 31, 2026

CONTRIBUTION ACTIVITY
DATE

DESCRIPTION

CASH

Employee Contributions
Employee Contribution
03/05/2026

Recd From Fulton Bank

7,369.95

03/20/2026

Recd From Fulton Bank

7,273.36

Total Employee Contribution

14,643.31

Total Employee Contributions

14,643.31

Total Contributions

14,643.31

BOOK VALUE

MARKET

00082201
54- -01-B -62 -094-01
0101 -11-04522-01

[!ljbank®

WEST WHITELAND POLICE PENSION
ACCOUNT

Page 14 of 23
Period from March 1, 2026 to March 31, 2026

BENEFIT ACTIVITY
DATE

DESCRIPTION

CASH

Benefit Payments
Monthly Pension
03/31/2026

Paid To Pension Pmts

- 97,795.20

Total Monthly Pension

- 97,795.20

Total Benefit Payments

- 97,795.20

Total Benefit Activity

- 97,795.20

BOOK VALUE

MARKET

00082201
54- -01-B -62 -094-01
0101 -11-04522-01

[!ljbank®

WEST WHITELAND POLICE PENSION
ACCOUNT

Page 15 of 23
Period from March 1, 2026 to March 31, 2026

INVESTMENT ACTIVITY
DATE

DESCRIPTION

CASH

Interest
First Am Govt Ob Fd Cl Z
31846V567
03/02/2026

Interest From 2/1/26 To 2/28/26

Total Interest

811.60
811.60

Dividends
Baird Core Plus Bond Fund Institut
057071870
03/27/2026

0.037727 USD/Share On 258,189.04 Shares Due 3/30/26
Dividend Payable 03/30/26

9,740.62

Ishares Core U.S. Aggregate Bond Etf
464287226
03/05/2026

0.316377 USD/Share On 28,922 Shares Due 3/5/26

9,150.26

Ishares Russell 2000 Etf
464287655
03/20/2026

0.442026 USD/Share On 1,913 Shares Due 3/20/26

845.60

Nuveen Core Bond Fund R6
87244W607
03/31/2026

Dividend From 3/1/26 To 3/31/26

5,768.27

Pgim Total Return Bond Cl R6
74440B884
03/31/2026

Dividend From 3/1/26 To 3/31/26

6,605.42

Schwab U S Large Cap Etf
808524201
03/30/2026

Schwab U S Large Cap Etf
0.0732 USD/Share On 355,674 Shares Due 3/30/26

26,035.34

00082201
54- -01-B -62 -094-01
0101 -11-04522-01

[!ljbank®

WEST WHITELAND POLICE PENSION
ACCOUNT

Page 16 of 23
Period from March 1, 2026 to March 31, 2026

INVESTMENT ACTIVITY (continued)
DATE

DESCRIPTION

CASH

Voya Intermediate Bond Fund Class R6
92913L569
03/31/2026

Dividend From 3/1/26 To 3/31/26

Total Dividends

3,757.60
61,903.11

00082201
54- -01-B -62 -094-01
0101 -11-04522-01

[!ljbank®

WEST WHITELAND POLICE PENSION
ACCOUNT

Page 17 of 23
Period from March 1, 2026 to March 31, 2026

PLAN EXPENSES
DATE

DESCRIPTION

CASH

Administrative Expenses
Investment Advisory And Management Fees
Management Fee
03/24/2026

Paid To US Bank Trust Fees
Inv 15172122 For January 2026

- 5,322.17

Total Management Fee

- 5,322.17

Total Investment Advisory And Management Fees

- 5,322.17

Total Administrative Expenses

- 5,322.17

Trust Fees
Trust Fees
03/26/2026

Collected
Charged For Period 02/01/2026 Thru 02/28/2026

- 551.29

Total Trust Fees

- 551.29

Total Trust Fees

- 551.29

Total Plan Expenses

- 5,873.46

00082201
54- -01-B -62 -094-01
0101 -11-04522-01

[!ljbank®

WEST WHITELAND POLICE PENSION
ACCOUNT

Page 18 of 23
Period from March 1, 2026 to March 31, 2026

OTHER ACTIVITY
DATE

DESCRIPTION

CASH

Miscellaneous Disbursements
Payment Of Funds As Requested
03/20/2026

Paid To W Whiteland Twnshp Fnd
Per Direction Dtd 3/20/26

- 1,772.34

Total Payment Of Funds As Requested

- 1,772.34

Total Miscellaneous Disbursements

- 1,772.34

Total Other Activity

- 1,772.34

00082201
54- -01-B -62 -094-01
0101 -11-04522-01

[!ljbank®

WEST WHITELAND POLICE PENSION
ACCOUNT

Page 19 of 23
Period from March 1, 2026 to March 31, 2026

PURCHASES
DATE

DESCRIPTION

SHARES/
FACE AMOUNT

COMMISSION

CASH

BOOK VALUE

Cash And Equivalents
03/05/2026

Purchased
16,520.21 Units Of
First Am Govt Ob Fd Cl Z
Trade Date 3/5/26
31846V567

16,520.210

.00

- 16,520.21

16,520.21

03/20/2026

Purchased
6,346.62 Units Of
First Am Govt Ob Fd Cl Z
Trade Date 3/20/26
31846V567

6,346.620

.00

- 6,346.62

6,346.62

03/30/2026

Purchased
136,050.62 Units Of
First Am Govt Ob Fd Cl Z
Trade Date 3/30/26
31846V567

136,050.620

.00

- 136,050.62

136,050.62

Total First Am Govt Ob Fd Cl Z

158,917.450

.00

- 158,917.45

158,917.45

Total Cash And Equivalents

158,917.450

.00

- 158,917.45

158,917.45

1,913.000

19.13

- 503,749.72

503,749.72

Total Ishares Russell 2000 Etf

1,913.000

19.13

- 503,749.72

503,749.72

Total Mutual Funds-Equity

1,913.000

19.13

- 503,749.72

503,749.72

Mutual Funds-Equity
03/02/2026

Purchased 1,913
Shares Of
Ishares Russell 2000 Etf
Trade Date 3/2/26
Purchased Through BofA Securities, Inc.
Swift External Ref#: Ngs3Jjyd5Qajeaad
1,913 Shares At 263.31970204 USD
464287655

Mutual Funds-Fixed Income

00082201
54- -01-B -62 -094-01
0101 -11-04522-01

[!ljbank®

WEST WHITELAND POLICE PENSION
ACCOUNT

Page 20 of 23
Period from March 1, 2026 to March 31, 2026

PURCHASES (continued)
SHARES/
FACE AMOUNT

COMMISSION

CASH

BOOK VALUE

962.512

.00

- 9,740.62

9,740.62

Total Baird Core Plus Bond Fund Institut

962.512

.00

- 9,740.62

9,740.62

03/31/2026

629.037

.00

- 5,768.27

5,768.27

Total Nuveen Core Bond Fund R6

629.037

.00

- 5,768.27

5,768.27

03/31/2026

548.168

.00

- 6,605.42

6,605.42

Total Pgim Total Return Bond Cl R6

548.168

.00

- 6,605.42

6,605.42

03/31/2026

428.950

.00

- 3,757.60

3,757.60

428.950

.00

- 3,757.60

3,757.60

2,568.667

.00

- 25,871.91

25,871.91

163,399.117

19.13

- 688,539.08

688,539.08

DATE
03/27/2026

DESCRIPTION
Purchased
962.512 Shares
Baird Core Plus Bond Fund Institut @ 10.12 USD
Through Reinvestment Of Cash Dividend Due 3/30/26
057071870

Purchased
629.037 Shares
Nuveen Core Bond Fund R6 @ 9.17 USD
Through Reinvestment Of Cash Dividend Due 3/31/26
87244W607

Purchased
548.168 Shares
Pgim Total Return Bond Cl R6 @ 12.05 USD
Through Reinvestment Of Cash Dividend Due 3/31/26
74440B884

Purchased 428.95
Shares
Voya Intermediate Bond Fund Class R6 @ 8.76 USD
Through Reinvestment Of Cash Dividend Due 3/31/26
92913L569

Total Voya Intermediate Bond Fund Class R6
Total Mutual Funds-Fixed Income
Total Purchases

00082201
54- -01-B -62 -094-01
0101 -11-04522-01

[!ljbank®

WEST WHITELAND POLICE PENSION
ACCOUNT

Page 21 of 23
Period from March 1, 2026 to March 31, 2026

SALES AND MATURITIES
SHARES/
FACE AMOUNT

COMMISSION

TRANSACTION
PROCEEDS

BOOK VALUE

REALIZED
GAIN/LOSS

03/03/2026 Sold
2,938.12 Units Of
First Am Govt Ob Fd Cl Z
Trade Date 3/3/26
31846V567

- 2,938.120

.00

2,938.12

- 2,938.12

.00

03/24/2026 Sold
5,322.17 Units Of
First Am Govt Ob Fd Cl Z
Trade Date 3/24/26
31846V567

- 5,322.170

.00

5,322.17

- 5,322.17

.00

03/26/2026 Sold 551.29
Units Of
First Am Govt Ob Fd Cl Z
Trade Date 3/26/26
31846V567

- 551.290

.00

551.29

- 551.29

.00

03/31/2026 Sold
97,795.2 Units Of
First Am Govt Ob Fd Cl Z
Trade Date 3/31/26
31846V567

- 97,795.200

.00

97,795.20

- 97,795.20

.00

Total First Am Govt Ob Fd Cl Z

- 106,606.780

.00

106,606.78

- 106,606.78

.00

Total Cash And Equivalents

- 106,606.780

.00

106,606.78

- 106,606.78

.00

03/02/2026 Sold
6,541.292 Shares Of
Columbia Small Cap Growth Inst3
Trade Date 3/2/26
6,541.292 Shares At 36.69 USD
19765Y340

- 6,541.292

.00

240,000.00

- 213,846.17

26,153.83

Total Columbia Small Cap Growth Inst3

- 6,541.292

.00

240,000.00

- 213,846.17

26,153.83

DATE

DESCRIPTION

Cash And Equivalents

Mutual Funds-Equity

00082201
54- -01-B -62 -094-01
0101 -11-04522-01

[!ljbank®

WEST WHITELAND POLICE PENSION
ACCOUNT

Page 22 of 23
Period from March 1, 2026 to March 31, 2026

SALES AND MATURITIES (continued)
SHARES/
FACE AMOUNT

COMMISSION

TRANSACTION
PROCEEDS

BOOK VALUE

REALIZED
GAIN/LOSS

03/02/2026 Sold
21,189.894 Shares Of
Pimco Rae US Small Instl
Trade Date 3/2/26
21,189.894 Shares At 12.27 USD
72202L421

- 21,189.894

.00

260,000.00

- 256,511.85

3,488.15

Total Pimco Rae US Small Instl

- 21,189.894

.00

260,000.00

- 256,511.85

3,488.15

Total Mutual Funds-Equity

- 27,731.186

.00

500,000.00

- 470,358.02

29,641.98

03/27/2026 Sold 1,116
Shares Of
Ishares Core U.S. Aggregate Bond Etf
Trade Date 3/27/26
Sold Through BofA Securities, Inc.
Paid 11.16 USD Brokerage
Swift External Ref#: Nhdmibad4Qaauaad
1,116 Shares At 98.59 USD
464287226

- 1,116.000

11.16

110,015.28

- 108,661.86

1,353.42

Total Ishares Core U.S. Aggregate Bond Etf

- 1,116.000

11.16

110,015.28

- 108,661.86

1,353.42

Total Mutual Funds-Fixed Income

- 1,116.000

11.16

110,015.28

- 108,661.86

1,353.42

- 135,453.966

11.16

716,622.06

- 685,626.66

30,995.40

DATE

DESCRIPTION

Mutual Funds-Fixed Income

Total Sales And Maturities

SALES AND MATURITIES MESSAGES
Realized gain/loss should not be used for tax purposes.

00082201
54- -01-B -62 -094-01
0101 -11-04522-01

[!ljbank®

WEST WHITELAND POLICE PENSION
ACCOUNT

Page 23 of 23
Period from March 1, 2026 to March 31, 2026

BROKER COMMISSIONS
BROKER/PARTY
SHARES/
UNITS

DATE DESCRIPTION

PURCHASE COST/
SALE PROCEEDS

BROKER
COMMISSION

OTHER
EXPENSE

TOTAL COST/
NET PROCEEDS

BofA Securities, Inc.
1,913.000

03/02/2026 Bought
Ishares Russell 2000 Etf
464287655

503,730.59

19.13

.00

503,749.72

1,116.000

03/27/2026 Sold
Ishares Core U.S. Aggregate Bond Etf
464287226

110,026.44

11.16

.00

110,015.28

Total BofA Securities, Inc.
# Trades/Commission Per Share

613,757.03
2

30.29
.01

.00

613,765.00

Grand Total

613,757.03

30.29

.00

613,765.00

00082201
54- -01-B -62 -094-01
0101 -11-04522-01

-

[!Ljbank.

Account Number:
WEST WHITELAND TOWNSHIP
NON-UNIFORMED PENSION PLAN

This statement is for the period from March 1, 2026 to March 31, 2026

Questions?
If you have any questions regarding your account or this
statement, please contact your Account Manager.
Account Manager:
ANGELA HANSEN
60 LIVINGSTON AVE
EP-MN-WS4E
ST. PAUL, MN 55107
Phone: 651-466-6390
E-mail: [email protected]

TFFTDAAATTTTATAAAAFAFFFFAATDDATDATDDDDAADATFFTFDAADTDTFTFTFADAAFT

00000000822 000638155334092 P

WEST WHITELAND TOWNSHIP
ATTN: CAROLINE PARTRIDGE
101 COMMERCE DRIVE
EXTON PA 19341-2726

00082201
54- -01-B -62 -094-01
0101 -11-04522-01
WEST WHITELAND NON-UNIFORMED PENSION
ACCOUNT

[!ljbank®
Page 2 of 23
Period from March 1, 2026 to March 31, 2026

TABLE OF CONTENTS
Schedule

Page

Market And Cost Reconciliation .........................................................................................................................................................................
Cash Reconciliation ............................................................................................................................................................................................
Asset Summary ....................................................................................................................................................................................................
Asset Detail ..........................................................................................................................................................................................................
Income Accrual Detail .........................................................................................................................................................................................
Contribution Activity .............................................................................................................................................................................................
Benefit Activity......................................................................................................................................................................................................
Investment Activity ...............................................................................................................................................................................................
Plan Expenses .....................................................................................................................................................................................................
Other Activity ........................................................................................................................................................................................................
Purchases ............................................................................................................................................................................................................
Sales And Maturities ...........................................................................................................................................................................................
Broker Commissions ...........................................................................................................................................................................................

3
5
7
8
12
13
14
15
17
18
19
21
23

00082201
54- -01-B -62 -094-01
0101 -11-04522-01
WEST WHITELAND NON-UNIFORMED PENSION
ACCOUNT

[!ljbank®
Page 3 of 23
Period from March 1, 2026 to March 31, 2026

MARKET AND COST RECONCILIATION

Beginning Market And Cost

03/31/2026
MARKET

03/31/2026
BOOK VALUE

11,825,538.78

10,750,487.62

11,095.80

11,095.80

11,095.80

11,095.80

- 41,413.91

- 41,413.91

- 41,413.91

- 41,413.91

347.83
27,633.65
14,555.77
- 578,862.21
- 33.15

347.83
27,633.65
14,555.77
.00
- 33.15

- 536,358.11

42,504.10

- 2,356.82
- 416.67

- 2,356.82
- 416.67

- 2,773.49

- 2,773.49

- 1,772.33

- 1,772.33

- 1,772.33

- 1,772.33

- 571,222.04

7,640.17

11,254,316.74

10,758,127.79

Contribution Activity
Employee Contributions
Total Contribution Activity
Benefit Activity
Benefits Payments
Total Benefit Activity
Investment Activity
Interest
Dividends
Realized Gain/Loss
Change In Unrealized Gain/Loss
Net Accrued Income (Current-Prior)
Total Investment Activity
Plan Expenses
Administrative Expenses*
Trust Fees
Total Plan Expenses
Other Activity
Miscellaneous Disbursements
Total Other Activity
Net Change In Market And Cost
Ending Market And Cost

CP 4/16/2026; AGREES TO TB

00082201
54- -01-B -62 -094-01
0101 -11-04522-01
WEST WHITELAND NON-UNIFORMED PENSION
ACCOUNT

MARKET AND COST RECONCILIATION MESSAGES
* Includes Professional Fees, Contract Administrator Fees and Investment Advisory Fees

[!ljbank®
Page 4 of 23
Period from March 1, 2026 to March 31, 2026

00082201
54- -01-B -62 -094-01
0101 -11-04522-01
WEST WHITELAND NON-UNIFORMED PENSION
ACCOUNT

[!ljbank®
Page 5 of 23
Period from March 1, 2026 to March 31, 2026

CASH RECONCILIATION
Beginning Cash

.00

Contribution Activity
Employee Contributions
Total Contribution Activity

11,095.80
11,095.80

Benefit Activity
Benefits Payments
Total Benefit Activity

- 41,413.91
- 41,413.91

Investment Activity
Interest
Dividends
Cash Equivalent Purchases
Purchases
Cash Equivalent Sales
Sales/Maturities
Total Investment Activity

347.83
27,633.65
- 75,410.46
- 227,983.73
45,296.58
264,980.06
34,863.93

Plan Expenses
Administrative Expenses*
Trust Fees
Total Plan Expenses

- 2,356.82
- 416.67
- 2,773.49

Other Activity
Miscellaneous Disbursements

- 1,772.33

Total Other Activity

- 1,772.33

Net Change In Cash

.00

Ending Cash

.00

00082201
54- -01-B -62 -094-01
0101 -11-04522-01
WEST WHITELAND NON-UNIFORMED PENSION
ACCOUNT

CASH RECONCILIATION MESSAGES
* Includes Professional Fees, Contract Administrator Fees and Investment Advisory Fees

[!ljbank®
Page 6 of 23
Period from March 1, 2026 to March 31, 2026

00082201
54- -01 -8 -62 -094-01
0101 -11 -04522-01

~ bank.

WEST WHITELAND NON-UNIFORMED PENSION
ACCOUNT

Page 7 of 23
Period from March 1, 2026 to March 31 , 2026

ASSETS

03/31 /2026
MARKET

Cash And Equivalents

123,744.55

123,744.55

1.10

Mutual Funds-Equity

6,887,430.82

6,1 74,570.07

61.20

Mutual Funds-Fixed Income

4,242,826.69

4,459,498.49

37.70

Total Assets

11 254 002.06

10 757 813.11

100.00

314.68

314.68

0.00

11254316.74

10 758127.79

100.00

Accrued Income

Grand Total

322,626.55

Estimated A nnual Income

.

03/31 /2026
¾ OF
BOOK VALUE MARKET

•; .••,• , .•.•, .•;· .• .•-•. ,

···- ·-:·

Asse+:suMMARv':Mes:sA•GES

; :i- '. ··:!: ; ·T ; {' : ·} : 1l:· :· :!--:· :i · : -F-~· : .!

j. . !-. ! :-:•!·! .•! 1•-,. ;- l-

Estimated Annual Income is an estimate provided for informational purposes only
and should not be relied on for making investment, trading, or tax decisions. The
estimates may not represent the actual value earned by your investments and
they provide no guarantee of what your investments may earn in the future.

MUTUAL FUND
CASH EQUIV & ACCR

00082201
54- -01-B -62 -094-01
0101 -11-04522-01

[!ljbank®

WEST WHITELAND NON-UNIFORMED PENSION
ACCOUNT

Page 8 of 23
Period from March 1, 2026 to March 31, 2026

ASSET DETAIL
SHARES/
FACE AMOUNT

MARKET
PRICE/UNIT

BOOK VALUE

123,744.550

123,744.55
1.0000

123,744.55

Total Money Markets

123,744.550

123,744.55

Total Cash And Equivalents

123,744.550

Columbia
Small Cap Growth Inst3
19765Y340 Asset Minor Code 98

UNREALIZED
GAIN (LOSS)
SINCE INCEPTION/
CURRENT PERIOD

ENDING
ACCRUAL

YIELD ON
MARKET

.00
.00

314.68

3.53

123,744.55

.00
.00

314.68

3.53

123,744.55

123,744.55

.00
.00

314.68

3.53

2,956.520

98,008.64
33.1500

95,668.20

2,340.44
- 20,593.23

.00

0.00

Fidelity
International Index Fund
315911727 Asset Minor Code 98

13,175.413

808,706.85
61.3800

740,747.62

67,959.23
- 72,464.77

.00

6.25

Fidelity
Emerging Markets Index Fund
316146331 Asset Minor Code 98

23,355.234

330,476.56
14.1500

268,695.32

61,781.24
- 34,799.30

.00

2.28

Goldman Sachs
Gqg Ptnrs Intl Opps R6
38147N269 Asset Minor Code 98

12,692.314

298,650.15
23.5300

252,216.13

46,434.02
- 16,500.01

.00

2.45

Ishares
Russell 2000 Etf
464287655 Asset Minor Code 94

822.000

203,856.00
248.0000

216,457.01

- 12,601.01
- 12,601.01

.00

1.02

DESCRIPTION

Cash And Equivalents
Money Markets
First Am Govt
Ob Fd Cl Z
31846V567 Asset Minor Code 1

Mutual Funds
Mutual Funds-Equity

00082201
54- -01-B -62 -094-01
0101 -11-04522-01

[!ljbank®

WEST WHITELAND NON-UNIFORMED PENSION
ACCOUNT

Page 9 of 23
Period from March 1, 2026 to March 31, 2026

ASSET DETAIL (continued)
SHARES/
FACE AMOUNT

MARKET
PRICE/UNIT

BOOK VALUE

Janus
Henderson Overseas N
47103D835 Asset Minor Code 98

7,127.228

407,748.71
57.2100

363,958.70

Mfs Intl
Diversificat R6
552743544 Asset Minor Code 98

19,658.207

545,122.08
27.7300

Pimco Rae US
Small Instl
72202L421 Asset Minor Code 98

8,859.778

Schwab U S
Large Cap Etf
808524201 Asset Minor Code 94

UNREALIZED
GAIN (LOSS)
SINCE INCEPTION/
CURRENT PERIOD

ENDING
ACCRUAL

YIELD ON
MARKET

43,790.01
- 37,132.86

.00

1.41

517,336.92

27,785.16
- 53,863.49

.00

2.39

104,102.39
11.7500

107,200.93

- 3,098.54
- 5,955.30

.00

1.15

159,546.000

4,090,759.44
25.6400

3,612,289.24

478,470.20
- 226,555.32

.00

1.17

248,192.694

6,887,430.82

6,174,570.07

712,860.75
- 480,465.29

.00

1.96

Baird Core
Plus Bond Fund Institut
057071870 Asset Minor Code 99

112,308.573

1,144,424.36
10.1900

1,240,183.16

- 95,758.80
- 25,705.83

.00

4.30

Ishares Core
U.S. Aggregate Bond Etf
464287226 Asset Minor Code 95

12,341.000

1,225,091.07
99.2700

1,201,167.70

23,923.37
- 28,349.07

.00

3.94

Pgim Total
Return Bond Cl R6
74440B884 Asset Minor Code 99

63,781.113

768,562.41
12.0500

859,315.46

- 90,753.05
- 18,425.97

.00

4.65

Nuveen Core
Bond Fund R6
87244W607 Asset Minor Code 99

74,858.416

686,451.67
9.1700

685,093.17

1,358.50
- 16,404.34

.00

4.42

Voya
Intermediate Bond Fund Class R6
92913L569 Asset Minor Code 99

47,750.820

418,297.18
8.7600

473,739.00

- 55,441.82
- 9,511.71

.00

4.71

DESCRIPTION

Total Mutual Funds-Equity
Mutual Funds-Fixed Income

00082201
54- -01-B -62 -094-01
0101 -11-04522-01

[!ljbank®

WEST WHITELAND NON-UNIFORMED PENSION
ACCOUNT

Page 10 of 23
Period from March 1, 2026 to March 31, 2026

ASSET DETAIL (continued)
SHARES/
FACE AMOUNT

MARKET
PRICE/UNIT

BOOK VALUE

Total Mutual Funds-Fixed Income

311,039.922

4,242,826.69

4,459,498.49

Total Mutual Funds

559,232.616

11,130,257.51

Total Assets

682,977.166

DESCRIPTION

Accrued Income
Grand Total

UNREALIZED
GAIN (LOSS)
SINCE INCEPTION/
CURRENT PERIOD

ENDING
ACCRUAL

YIELD ON
MARKET

- 216,671.80
- 98,396.92

.00

4.31

10,634,068.56

496,188.95
- 578,862.21

.00

2.85

11,254,002.06

10,757,813.11

496,188.95
- 578,862.21

314.68

2.86

.000

314.68

314.68

682,977.166

11,254,316.74

10,758,127.79

ASSET DETAIL MESSAGES
Time of trade execution and trading party (if not disclosed) will be provided upon request.
Publicly traded assets are valued in accordance with market quotations or valuation methodologies from financial industry services believed by us to be reliable. Assets that are not
publicly traded may be reflected at values from other external sources. Assets for which a current value is not available may be reflected at a previous value or as not valued, at par value,
or at a nominal value. Values shown do not necessarily reflect prices at which assets could be bought or sold. Values are updated based on internal policy and may be updated less
frequently than statement generation.
For further information, please contact your account manager or relationship manager.
We provide a cash management administrative service for the temporary investment of principal and income balances in your account. The fee for providing this service will not exceed
$0.42 per month for each $1,000 of the average daily balance invested under the cash management administrative service. The charge for this service has been deducted from your
account.

00082201
54- -01-B -62 -094-01
0101 -11-04522-01
WEST WHITELAND NON-UNIFORMED PENSION
ACCOUNT

[!ljbank®
Page 11 of 23
Period from March 1, 2026 to March 31, 2026

ASSET DETAIL MESSAGES (continued)
Yield on Market and Accrued Income are estimates provided for informational purposes only and should not be relied on for making investment, trading, or tax decisions. The estimates
may not represent the actual value earned by your investments and they provide no guarantee of what your investments may earn in the future.
The asset categories used in this statement may be general in nature. For example, assets listed under the "Mutual Funds" category may include open-end investment companies
registered under the Investment Company Act of 1940 (which are commonly known as "mutual funds") but may also include closed-end investment companies, unit investment trusts,
common trust funds, collective trust funds or other investments that are registered with (or not subject to registration with) the Securities and Exchange Commission.

00082201
54- -01-B -62 -094-01
0101 -11-04522-01

[!ljbank®

WEST WHITELAND NON-UNIFORMED PENSION
ACCOUNT

Page 12 of 23
Period from March 1, 2026 to March 31, 2026

INCOME ACCRUAL DETAIL
SHARES/
FACE AMOUNT

DESCRIPTION

EX
DATE

PAY ANN
DATE RATE

BEGINNING
ACCRUAL

INCOME
EARNED

INCOME
RECEIVED

ENDING
ACCRUAL

0.04

347.83

314.68

347.83

314.68

347.83

314.68

347.83

314.68

2.54

.00

363.35

363.35

.00

0.30

.00

11,678.77

11,678.77

.00

.00

12,042.12

12,042.12

.00

Cash And Equivalents
123,744.550

First Am Govt Ob Fd Cl Z
31846V567

04/01/26

Total Cash And Equivalents
Mutual Funds-Equity
822.000
159,546.000

Ishares Russell 2000 Etf
464287655

03/17/26 03/20/26

Schwab U S Large Cap Etf
808524201

03/25/26 03/30/26

Total Mutual Funds-Equity
Mutual Funds-Fixed Income
112,308.573

Baird Core Plus Bond Fund Institut
057071870
03/27/26 03/30/26

0.44

.00

4,221.29

4,221.29

.00

12,341.000

Ishares Core U.S. Aggregate Bond Etf
464287226
03/02/26 03/05/26

3.91

.00

4,064.81

4,064.81

.00

63,781.113

Pgim Total Return Bond Cl R6
74440B884

0.56

.00

2,931.67

2,931.67

.00

12/22/22 03/31/26

Nuveen Core Bond Fund R6
87244W607

0.41

.00

2,689.13

2,689.13

.00

03/31/26 04/01/26
0.41

.00

1,684.63

1,684.63

.00

.00

15,591.53

15,591.53

.00

347.83

27,948.33

27,981.48

314.68

74,858.416
47,750.820

Voya Intermediate Bond Fund Class R6
92913L569
03/31/26 03/31/26

Total Mutual Funds-Fixed Income
Grand Total

00082201
54- -01-B -62 -094-01
0101 -11-04522-01

[!ljbank®

WEST WHITELAND NON-UNIFORMED PENSION
ACCOUNT

Page 13 of 23
Period from March 1, 2026 to March 31, 2026

CONTRIBUTION ACTIVITY
DATE

DESCRIPTION

CASH

Employee Contributions
Employee Contribution
03/05/2026

Recd From Fulton Bank

5,594.43

03/20/2026

Recd From Fulton Bank

5,501.37

Total Employee Contribution

11,095.80

Total Employee Contributions

11,095.80

Total Contributions

11,095.80

BOOK VALUE

MARKET

00082201
54- -01-B -62 -094-01
0101 -11-04522-01

[!ljbank®

WEST WHITELAND NON-UNIFORMED PENSION
ACCOUNT

Page 14 of 23
Period from March 1, 2026 to March 31, 2026

BENEFIT ACTIVITY
DATE

DESCRIPTION

CASH

Benefit Payments
Monthly Pension
03/31/2026

Paid To Pension Pmts

- 41,413.91

Total Monthly Pension

- 41,413.91

Total Benefit Payments

- 41,413.91

Total Benefit Activity

- 41,413.91

BOOK VALUE

MARKET

00082201
54- -01-B -62 -094-01
0101 -11-04522-01

[!ljbank®

WEST WHITELAND NON-UNIFORMED PENSION
ACCOUNT

Page 15 of 23
Period from March 1, 2026 to March 31, 2026

INVESTMENT ACTIVITY
DATE

DESCRIPTION

CASH

Interest
First Am Govt Ob Fd Cl Z
31846V567
03/02/2026

Interest From 2/1/26 To 2/28/26

Total Interest

347.83
347.83

Dividends
Baird Core Plus Bond Fund Institut
057071870
03/27/2026

0.037727 USD/Share On 111,891.449 Shares Due 3/30/26
Dividend Payable 03/30/26

4,221.29

Ishares Core U.S. Aggregate Bond Etf
464287226
03/05/2026

0.316377 USD/Share On 12,848 Shares Due 3/5/26

4,064.81

Ishares Russell 2000 Etf
464287655
03/20/2026

0.442026 USD/Share On 822 Shares Due 3/20/26

363.35

Nuveen Core Bond Fund R6
87244W607
03/31/2026

Dividend From 3/1/26 To 3/31/26

2,689.13

Pgim Total Return Bond Cl R6
74440B884
03/31/2026

Dividend From 3/1/26 To 3/31/26

2,931.67

Schwab U S Large Cap Etf
808524201
03/30/2026

Schwab U S Large Cap Etf
0.0732 USD/Share On 159,546 Shares Due 3/30/26

11,678.77

00082201
54- -01-B -62 -094-01
0101 -11-04522-01

[!ljbank®

WEST WHITELAND NON-UNIFORMED PENSION
ACCOUNT

Page 16 of 23
Period from March 1, 2026 to March 31, 2026

INVESTMENT ACTIVITY (continued)
DATE

DESCRIPTION

CASH

Voya Intermediate Bond Fund Class R6
92913L569
03/31/2026

Dividend From 3/1/26 To 3/31/26

Total Dividends

1,684.63
27,633.65

00082201
54- -01-B -62 -094-01
0101 -11-04522-01

[!ljbank®

WEST WHITELAND NON-UNIFORMED PENSION
ACCOUNT

Page 17 of 23
Period from March 1, 2026 to March 31, 2026

PLAN EXPENSES
DATE

DESCRIPTION

CASH

Administrative Expenses
Investment Advisory And Management Fees
Management Fee
03/24/2026

Paid To US Bank Trust Fees
Inv 15172122 For January 2026

- 2,356.82

Total Management Fee

- 2,356.82

Total Investment Advisory And Management Fees

- 2,356.82

Total Administrative Expenses

- 2,356.82

Trust Fees
Trust Fees
03/26/2026

Collected
Charged For Period 02/01/2026 Thru 02/28/2026

- 416.67

Total Trust Fees

- 416.67

Total Trust Fees

- 416.67

Total Plan Expenses

- 2,773.49

00082201
54- -01-B -62 -094-01
0101 -11-04522-01

[!ljbank®

WEST WHITELAND NON-UNIFORMED PENSION
ACCOUNT

Page 18 of 23
Period from March 1, 2026 to March 31, 2026

OTHER ACTIVITY
DATE

DESCRIPTION

CASH

Miscellaneous Disbursements
Payment Of Funds As Requested
03/20/2026

Paid To W Whiteland Twnshp Fnd
Per Direction Dtd 3/20/26

- 1,772.33

Total Payment Of Funds As Requested

- 1,772.33

Total Miscellaneous Disbursements

- 1,772.33

Total Other Activity

- 1,772.33

00082201
54- -01-B -62 -094-01
0101 -11-04522-01

[!ljbank®

WEST WHITELAND NON-UNIFORMED PENSION
ACCOUNT

Page 19 of 23
Period from March 1, 2026 to March 31, 2026

PURCHASES
DATE

DESCRIPTION

SHARES/
FACE AMOUNT

COMMISSION

CASH

BOOK VALUE

Cash And Equivalents
03/05/2026

Purchased
9,659.24 Units Of
First Am Govt Ob Fd Cl Z
Trade Date 3/5/26
31846V567

9,659.240

.00

- 9,659.24

9,659.24

03/20/2026

Purchased
4,092.39 Units Of
First Am Govt Ob Fd Cl Z
Trade Date 3/20/26
31846V567

4,092.390

.00

- 4,092.39

4,092.39

03/30/2026

Purchased
61,658.83 Units Of
First Am Govt Ob Fd Cl Z
Trade Date 3/30/26
31846V567

61,658.830

.00

- 61,658.83

61,658.83

Total First Am Govt Ob Fd Cl Z

75,410.460

.00

- 75,410.46

75,410.46

Total Cash And Equivalents

75,410.460

.00

- 75,410.46

75,410.46

822.000

8.22

- 216,457.01

216,457.01

Total Ishares Russell 2000 Etf

822.000

8.22

- 216,457.01

216,457.01

Total Mutual Funds-Equity

822.000

8.22

- 216,457.01

216,457.01

Mutual Funds-Equity
03/02/2026

Purchased 822
Shares Of
Ishares Russell 2000 Etf
Trade Date 3/2/26
Purchased Through BofA Securities, Inc.
Swift External Ref#: Ngs3Jjyd5Qaiqaad
822 Shares At 263.31969586 USD
464287655

Mutual Funds-Fixed Income

00082201
54- -01-B -62 -094-01
0101 -11-04522-01

[!ljbank®

WEST WHITELAND NON-UNIFORMED PENSION
ACCOUNT

Page 20 of 23
Period from March 1, 2026 to March 31, 2026

PURCHASES (continued)
SHARES/
FACE AMOUNT

COMMISSION

CASH

BOOK VALUE

417.124

.00

- 4,221.29

4,221.29

Total Baird Core Plus Bond Fund Institut

417.124

.00

- 4,221.29

4,221.29

03/31/2026

293.253

.00

- 2,689.13

2,689.13

Total Nuveen Core Bond Fund R6

293.253

.00

- 2,689.13

2,689.13

03/31/2026

243.292

.00

- 2,931.67

2,931.67

Total Pgim Total Return Bond Cl R6

243.292

.00

- 2,931.67

2,931.67

03/31/2026

192.309

.00

- 1,684.63

1,684.63

192.309

.00

- 1,684.63

1,684.63

Total Mutual Funds-Fixed Income

1,145.978

.00

- 11,526.72

11,526.72

Total Purchases

77,378.438

8.22

- 303,394.19

303,394.19

DATE
03/27/2026

DESCRIPTION
Purchased
417.124 Shares
Baird Core Plus Bond Fund Institut @ 10.12 USD
Through Reinvestment Of Cash Dividend Due 3/30/26
057071870

Purchased
293.253 Shares
Nuveen Core Bond Fund R6 @ 9.17 USD
Through Reinvestment Of Cash Dividend Due 3/31/26
87244W607

Purchased
243.292 Shares
Pgim Total Return Bond Cl R6 @ 12.05 USD
Through Reinvestment Of Cash Dividend Due 3/31/26
74440B884

Purchased
192.309 Shares
Voya Intermediate Bond Fund Class R6 @ 8.76 USD
Through Reinvestment Of Cash Dividend Due 3/31/26
92913L569

Total Voya Intermediate Bond Fund Class R6

00082201
54- -01-B -62 -094-01
0101 -11-04522-01

[!ljbank®

WEST WHITELAND NON-UNIFORMED PENSION
ACCOUNT

Page 21 of 23
Period from March 1, 2026 to March 31, 2026

SALES AND MATURITIES
SHARES/
FACE AMOUNT

COMMISSION

TRANSACTION
PROCEEDS

BOOK VALUE

REALIZED
GAIN/LOSS

03/03/2026 Sold
1,109.18 Units Of
First Am Govt Ob Fd Cl Z
Trade Date 3/3/26
31846V567

- 1,109.180

.00

1,109.18

- 1,109.18

.00

03/24/2026 Sold
2,356.82 Units Of
First Am Govt Ob Fd Cl Z
Trade Date 3/24/26
31846V567

- 2,356.820

.00

2,356.82

- 2,356.82

.00

03/26/2026 Sold 416.67
Units Of
First Am Govt Ob Fd Cl Z
Trade Date 3/26/26
31846V567

- 416.670

.00

416.67

- 416.67

.00

03/31/2026 Sold
41,413.91 Units Of
First Am Govt Ob Fd Cl Z
Trade Date 3/31/26
31846V567

- 41,413.910

.00

41,413.91

- 41,413.91

.00

Total First Am Govt Ob Fd Cl Z

- 45,296.580

.00

45,296.58

- 45,296.58

.00

Total Cash And Equivalents

- 45,296.580

.00

45,296.58

- 45,296.58

.00

03/02/2026 Sold
2,861.815 Shares Of
Columbia Small Cap Growth Inst3
Trade Date 3/2/26
2,861.815 Shares At 36.69 USD
19765Y340

- 2,861.815

.00

105,000.00

- 92,603.69

12,396.31

Total Columbia Small Cap Growth Inst3

- 2,861.815

.00

105,000.00

- 92,603.69

12,396.31

DATE

DESCRIPTION

Cash And Equivalents

Mutual Funds-Equity

00082201
54- -01-B -62 -094-01
0101 -11-04522-01

[!ljbank®

WEST WHITELAND NON-UNIFORMED PENSION
ACCOUNT

Page 22 of 23
Period from March 1, 2026 to March 31, 2026

SALES AND MATURITIES (continued)
SHARES/
FACE AMOUNT

COMMISSION

TRANSACTION
PROCEEDS

BOOK VALUE

REALIZED
GAIN/LOSS

03/02/2026 Sold
8,964.955 Shares Of
Pimco Rae US Small Instl
Trade Date 3/2/26
8,964.955 Shares At 12.27 USD
72202L421

- 8,964.955

.00

110,000.00

- 108,473.54

1,526.46

Total Pimco Rae US Small Instl

- 8,964.955

.00

110,000.00

- 108,473.54

1,526.46

Total Mutual Funds-Equity

- 11,826.770

.00

215,000.00

- 201,077.23

13,922.77

03/27/2026 Sold 507
Shares Of
Ishares Core U.S. Aggregate Bond Etf
Trade Date 3/27/26
Sold Through BofA Securities, Inc.
Paid 5.07 USD Brokerage
Swift External Ref#: Nhdmibad4Qabeaad
507 Shares At 98.59 USD
464287226

- 507.000

5.07

49,980.06

- 49,347.06

633.00

Total Ishares Core U.S. Aggregate Bond Etf

- 507.000

5.07

49,980.06

- 49,347.06

633.00

Total Mutual Funds-Fixed Income

- 507.000

5.07

49,980.06

- 49,347.06

633.00

- 57,630.350

5.07

310,276.64

- 295,720.87

14,555.77

DATE

DESCRIPTION

Mutual Funds-Fixed Income

Total Sales And Maturities

SALES AND MATURITIES MESSAGES
Realized gain/loss should not be used for tax purposes.

00082201
54- -01-B -62 -094-01
0101 -11-04522-01

[!ljbank®

WEST WHITELAND NON-UNIFORMED PENSION
ACCOUNT

Page 23 of 23
Period from March 1, 2026 to March 31, 2026

BROKER COMMISSIONS
BROKER/PARTY
SHARES/
UNITS

DATE DESCRIPTION

PURCHASE COST/
SALE PROCEEDS

BROKER
COMMISSION

OTHER
EXPENSE

TOTAL COST/
NET PROCEEDS

BofA Securities, Inc.
822.000

03/02/2026 Bought
Ishares Russell 2000 Etf
464287655

216,448.79

8.22

.00

216,457.01

507.000

03/27/2026 Sold
Ishares Core U.S. Aggregate Bond Etf
464287226

49,985.13

5.07

.00

49,980.06

Total BofA Securities, Inc.
# Trades/Commission Per Share

266,433.92
2

13.29
.01

.00

266,437.07

Grand Total

266,433.92

13.29

.00

266,437.07

~ bank.
U.S. Bank
1555 N. Rivercenter Dr.
Suite 300
Milwaukee, WI 53212

00000000822 000638155334092 P
TFFTDAAATTTTATAAAAFAFFFFAATDDATDATDDDDAADATFFTFDAADTDTFTFTFADAAFT

WEST WHITELAND TOWNSHIP
ATTN: CAROLINE PARTRIDGE
101 COMMERCE DRIVE
EXTON PA 19341-2726

000822
-B -094

Glossary
Accretion - The accumulation of the value of a discounted bond until maturity.
Adjusted Prior Market Realized Gain/Loss - The difference between the proceeds and the Prior
Market Value of the transaction.
Adjusted Prior Market Unrealized Gain/Loss - The difference between the Market Value and the
Adjusted Prior Market Value.
Adjusted Prior Market Value - A figure calculated using the beginning Market Value for the fiscal year,
adjusted for all asset related transactions during the period, employing an average cost methodology.
Amortization - The decrease in value of a premium bond until maturity.
Asset - Anything owned that has commercial exchange value. Assets may consist of specific property
or of claims against others, in contrast to obligations due to others (liabilities).
Bond Rating - A measurement of a bond's quality based upon the issuer's financial condition. Ratings
are assigned by independent rating services, such as Moody's, or S&P, and reflect their opinion of the
issuer's ability to meet the scheduled interest and principal repayments for the bond.
Cash - Cash activity that includes both income and principal cash categories.
Change in Unrealized Gain/Loss - Also reported as Gain/Loss in Period in the Asset Detail section.
This figure shows the market appreciation (depreciation) for the current period.
Cost Basis (Book Value) - The original price of an asset, normally the purchase price or appraised
value at the time of acquisition. Book Value method maintains an average cost for each asset.
Cost Basis (Tax Basis) - The original price of an asset, normally the purchase price or appraised value
at the time of acquisition. Tax Basis uses client determined methods such as Last-In-First-Out (LIFO),
First-In-First-Out (FIFO), Average, Minimum Gain, and Maximum Gain.
Ending Accrual - (Also reported as Accrued Income) Income earned but not yet received, or expenses
incurred but not yet paid, as of the end of the reporting period.
Estimated Annual Income - The amount of income a particular asset is anticipated to earn over the
next year. The shares multiplied by annual income rate.
Estimated Current Yield - The annual rate of return on an investment expressed as a percentage. For
stocks, yield is calculated by taking the annual dividend payments divided by the stock's current share
price. For bonds, yield is calculated by the coupon rate divided by the bond's market price.
Ex-Dividend Date - (Also reported as Ex-Date) For stock trades, the person who owns the security on
the ex-dividend date will earn the dividend, regardless of who currently owns the stock.
Income Cash - A category of cash comprised of ordinary earnings derived from investments, usually
dividends and interest.
Market Value - The price per unit multiplied by the number of units.
Maturity Date - The date on which an obligation or note matures.
Payable Date - The date on which a dividend, mutual fund distribution, or interest on a bond will be
made.
Principal Cash - A category of cash comprised of cash, deposits, cash withdrawals and the cash flows
generated from purchases or sales of investments.
Realized Gain/Loss Calculation - The Proceeds less the Cost Basis of a transaction.
Settlement Date - The date on which a trade settles and cash or securities are credited or debited to the
account.
Trade Date - The date a trade is legally entered into.
Unrealized Gain/Loss - The difference between the Market Value and Cost Basis at the end of the
current period.
Yield on/at Market - The annual rate of return on an investment expressed as a percentage. For
stocks, yield is calculated by the annual dividend payments divided by the stock's current share price.
For bonds, yield is calculated by the coupon rate divided by the bond's market price.
The terms defined in this glossary are only for use when reviewing your account statement. Please
contact your Relationship Manager with any questions.

00082201
54- -01-B -62 -094-01
0102 -11-04522-01

-

Account Number:
U.S. BANK AS TRUSTEE FOR THE
WEST WHITELAND TOWNSHIP OPEB

[!Bbank.

This statement is for the period from March 1, 2026 to March 31, 2026

Questions?
If you have any questions regarding your account or this
statement, please contact your Account Manager.
Account Manager:
ANGELA HANSEN
60 LIVINGSTON AVE
EP-MN-WS4E
ST. PAUL, MN 55107
Phone: 651-466-6390
E-mail: [email protected]

TFFTDAAATTTTATAAAAFAFFFFAATDDATDATDDDDAADATFFTFDAADTDTFTFTFADAAFT

00000000822 000638155334092 P

WEST WHITELAND TOWNSHIP
ATTN: CAROLINE PARTRIDGE
101 COMMERCE DRIVE
EXTON PA 19341-2726

00082201
54- -01-B -62 -094-01
0102 -11-04522-01
WEST WHITELAND TOWNSHIP OPEB
ACCOUNT

[!ljbank®
Page 2 of 21
Period from March 1, 2026 to March 31, 2026

TABLE OF CONTENTS
Schedule

Page

Market And Cost Reconciliation .........................................................................................................................................................................
Cash Reconciliation ............................................................................................................................................................................................
Asset Summary ....................................................................................................................................................................................................
Asset Detail ..........................................................................................................................................................................................................
Income Accrual Detail .........................................................................................................................................................................................
Investment Activity ...............................................................................................................................................................................................
Plan Expenses .....................................................................................................................................................................................................
Other Activity ........................................................................................................................................................................................................
Purchases ............................................................................................................................................................................................................
Sales And Maturities ...........................................................................................................................................................................................
Broker Commissions ...........................................................................................................................................................................................

3
4
5
6
10
11
13
14
15
18
21

00082201
54- -01-B -62 -094-01
0102 -11-04522-01
WEST WHITELAND TOWNSHIP OPEB
ACCOUNT

[!ljbank®
Page 3 of 21
Period from March 1, 2026 to March 31, 2026

MARKET AND COST RECONCILIATION
03/31/2026
MARKET

03/31/2026
BOOK VALUE

4,391,626.80

3,983,272.87

116.51
10,285.84
7,906.29
- 217,807.15
21.38

116.51
10,285.84
7,906.29
.00
21.38

- 199,477.13

18,330.02

- 867.81

- 867.81

- 867.81

- 867.81

- 159,360.87

- 159,360.87

Total Other Activity

- 159,360.87

- 159,360.87

Net Change In Market And Cost

- 359,705.81

- 141,898.66

Ending Market And Cost

4,031,920.99

3,841,374.21

Beginning Market And Cost
Investment Activity
Interest
Dividends
Realized Gain/Loss
Change In Unrealized Gain/Loss
Net Accrued Income (Current-Prior)
Total Investment Activity
Plan Expenses
Administrative Expenses*
Total Plan Expenses
Other Activity
Transfers Out

CP 4/16/2026; AGREES TO TB

MARKET AND COST RECONCILIATION MESSAGES
* Includes Professional Fees, Contract Administrator Fees and Investment Advisory Fees

00082201
54- -01-B -62 -094-01
0102 -11-04522-01
WEST WHITELAND TOWNSHIP OPEB
ACCOUNT

[!ljbank®
Page 4 of 21
Period from March 1, 2026 to March 31, 2026

CASH RECONCILIATION
Beginning Cash

.00

Investment Activity
Interest
Dividends
Cash Equivalent Purchases
Purchases
Cash Equivalent Sales
Sales/Maturities
Total Investment Activity

116.51
10,285.84
- 138,937.34
- 84,886.19
160,691.06
212,958.80
160,228.68

Plan Expenses
Administrative Expenses*
Total Plan Expenses

- 867.81
- 867.81

Other Activity
Transfers Out

- 159,360.87

Total Other Activity

- 159,360.87

Net Change In Cash

.00

Ending Cash

.00

CASH RECONCILIATION MESSAGES
* Includes Professional Fees, Contract Administrator Fees and Investment Advisory Fees

00082201
54- -01 -8 -62 -094-01
0102 -11 -04522-01

~ bank.

WEST WHITELAND TOWNSHIP OPES
ACCOUNT

Page 5 of 2 1
Period from March 1, 2026 to March 31 , 2026

03/31 /2026
MARKET

ASSETS

¾ OF
03/31 /2026
BOOK VALUE MARKET

Cash And Equivalents

19,157.90

19,157.90

0.48

Mutual Funds-Equity

2,481 ,741 .87

2,220,180.51

61 .55

Mutual Funds-Fixed Income

1,530,883.33

1,601 ,897.91

37.97

Total Assets

4 031 783.10

3 841 236.32

100.00

137.89

137.89

0.00

4 031 920.99

3 841 374.21

100.00

Accrued Income
Grand Total

Estimated Annual Income

.

115,573.82

•; .••,• , .•.•, .•;· .• .•-•. ,

···- ·-:·

Asse+:suMMARv':Mes:sA•GES

; :i- '. ··:!: ; ·T ; {' : ·} : 1l:· :· :!--:· :i · : -F-~· : .!

j. . !-. ! :-:•!·! .•! 1•-,. ;- l-

Estimated Annual Income is an estimate provided for informational purposes only
and should not be relied on for making investment, trading, or tax decisions. The
estimates may not represent the actual value earned by your investments and
they provide no guarantee of what your investments may earn in the future.

MUTUAL FUND

00082201
54- -01-B -62 -094-01
0102 -11-04522-01

[!ljbank®

WEST WHITELAND TOWNSHIP OPEB
ACCOUNT

Page 6 of 21
Period from March 1, 2026 to March 31, 2026

ASSET DETAIL
SHARES/
FACE AMOUNT

MARKET
PRICE/UNIT

BOOK VALUE

19,157.900

19,157.90
1.0000

19,157.90

Total Money Markets

19,157.900

19,157.90

Total Cash And Equivalents

19,157.900

Columbia
Small Cap Growth Inst3
19765Y340 Asset Minor Code 98

UNREALIZED
GAIN (LOSS)
SINCE INCEPTION/
CURRENT PERIOD

ENDING
ACCRUAL

YIELD ON
MARKET

.00
.00

137.89

3.53

19,157.90

.00
.00

137.89

3.53

19,157.90

19,157.90

.00
.00

137.89

3.53

1,087.114

36,037.83
33.1500

35,473.81

564.02
- 7,424.21

.00

0.00

Fidelity
International Index Fund
315911727 Asset Minor Code 98

4,824.952

296,155.55
61.3800

271,281.41

24,874.14
- 26,537.24

.00

6.25

Fidelity
Emerging Markets Index Fund
316146331 Asset Minor Code 98

8,416.845

119,098.36
14.1500

96,833.41

22,264.95
- 12,541.10

.00

2.28

Goldman Sachs
Gqg Ptnrs Intl Opps R6
38147N269 Asset Minor Code 98

4,656.873

109,576.22
23.5300

92,898.40

16,677.82
- 6,053.94

.00

2.45

Ishares
Russell 2000 Etf
464287655 Asset Minor Code 94

306.000

75,888.00
248.0000

80,578.89

- 4,690.89
- 4,690.89

.00

1.02

DESCRIPTION

Cash And Equivalents
Money Markets
First Am Govt
Ob Fd Cl Z
31846V567 Asset Minor Code 1

Mutual Funds
Mutual Funds-Equity

00082201
54- -01-B -62 -094-01
0102 -11-04522-01

[!ljbank®

WEST WHITELAND TOWNSHIP OPEB
ACCOUNT

Page 7 of 21
Period from March 1, 2026 to March 31, 2026

ASSET DETAIL (continued)
SHARES/
FACE AMOUNT

MARKET
PRICE/UNIT

BOOK VALUE

Janus
Henderson Overseas N
47103D835 Asset Minor Code 98

2,259.931

129,290.65
57.2100

115,414.77

Mfs Intl
Diversificat R6
552743544 Asset Minor Code 98

6,640.798

184,149.33
27.7300

Pimco Rae US
Small Instl
72202L421 Asset Minor Code 98

3,488.525

Schwab U S
Large Cap Etf
808524201 Asset Minor Code 94

UNREALIZED
GAIN (LOSS)
SINCE INCEPTION/
CURRENT PERIOD

ENDING
ACCRUAL

YIELD ON
MARKET

13,875.88
- 15,846.71

.00

1.41

174,785.60

9,363.73
- 20,500.50

.00

2.39

40,990.17
11.7500

42,225.38

- 1,235.21
- 2,287.44

.00

1.15

58,134.000

1,490,555.76
25.6400

1,310,688.84

179,866.92
- 87,718.82

.00

1.17

89,815.038

2,481,741.87

2,220,180.51

261,561.36
- 183,600.85

.00

1.96

Baird Core
Plus Bond Fund Institut
057071870 Asset Minor Code 99

38,625.160

393,590.38
10.1900

419,181.77

- 25,591.39
- 7,114.74

.00

4.30

Ishares Core
U.S. Aggregate Bond Etf
464287226 Asset Minor Code 95

4,463.000

443,042.01
99.2700

434,869.00

8,173.01
- 10,658.92

.00

3.94

Pgim Total
Return Bond Cl R6
74440B884 Asset Minor Code 99

24,027.099

289,526.54
12.0500

323,070.07

- 33,543.53
- 6,941.29

.00

4.65

Nuveen Core
Bond Fund R6
87244W607 Asset Minor Code 99

27,144.568

248,915.69
9.1700

248,391.76

523.93
- 5,948.41

.00

4.42

Voya
Intermediate Bond Fund Class R6
92913L569 Asset Minor Code 99

17,786.382

155,808.71
8.7600

176,385.31

- 20,576.60
- 3,542.94

.00

4.71

DESCRIPTION

Total Mutual Funds-Equity
Mutual Funds-Fixed Income

00082201
54- -01-B -62 -094-01
0102 -11-04522-01

[!ljbank®

WEST WHITELAND TOWNSHIP OPEB
ACCOUNT

Page 8 of 21
Period from March 1, 2026 to March 31, 2026

ASSET DETAIL (continued)
SHARES/
FACE AMOUNT

MARKET
PRICE/UNIT

BOOK VALUE

Total Mutual Funds-Fixed Income

112,046.209

1,530,883.33

1,601,897.91

Total Mutual Funds

201,861.247

4,012,625.20

Total Assets

221,019.147

DESCRIPTION

Accrued Income
Grand Total

UNREALIZED
GAIN (LOSS)
SINCE INCEPTION/
CURRENT PERIOD

ENDING
ACCRUAL

YIELD ON
MARKET

- 71,014.58
- 34,206.30

.00

4.32

3,822,078.42

190,546.78
- 217,807.15

.00

2.86

4,031,783.10

3,841,236.32

190,546.78
- 217,807.15

137.89

2.86

.000

137.89

137.89

221,019.147

4,031,920.99

3,841,374.21

ASSET DETAIL MESSAGES
Time of trade execution and trading party (if not disclosed) will be provided upon request.
Publicly traded assets are valued in accordance with market quotations or valuation methodologies from financial industry services believed by us to be reliable. Assets that are not
publicly traded may be reflected at values from other external sources. Assets for which a current value is not available may be reflected at a previous value or as not valued, at par value,
or at a nominal value. Values shown do not necessarily reflect prices at which assets could be bought or sold. Values are updated based on internal policy and may be updated less
frequently than statement generation.
For further information, please contact your account manager or relationship manager.
Yield on Market and Accrued Income are estimates provided for informational purposes only and should not be relied on for making investment, trading, or tax decisions. The estimates
may not represent the actual value earned by your investments and they provide no guarantee of what your investments may earn in the future.

00082201
54- -01-B -62 -094-01
0102 -11-04522-01
WEST WHITELAND TOWNSHIP OPEB
ACCOUNT

[!ljbank®
Page 9 of 21
Period from March 1, 2026 to March 31, 2026

ASSET DETAIL MESSAGES (continued)
The asset categories used in this statement may be general in nature. For example, assets listed under the "Mutual Funds" category may include open-end investment companies
registered under the Investment Company Act of 1940 (which are commonly known as "mutual funds") but may also include closed-end investment companies, unit investment trusts,
common trust funds, collective trust funds or other investments that are registered with (or not subject to registration with) the Securities and Exchange Commission.

00082201
54- -01-B -62 -094-01
0102 -11-04522-01

[!ljbank®

WEST WHITELAND TOWNSHIP OPEB
ACCOUNT

Page 10 of 21
Period from March 1, 2026 to March 31, 2026

INCOME ACCRUAL DETAIL
SHARES/
FACE AMOUNT

DESCRIPTION

EX
DATE

PAY ANN
DATE RATE

BEGINNING
ACCRUAL

INCOME
EARNED

INCOME
RECEIVED

ENDING
ACCRUAL

0.04

116.51

137.89

116.51

137.89

116.51

137.89

116.51

137.89

2.54

.00

135.26

135.26

.00

0.30

.00

4,339.22

4,339.22

.00

.00

4,474.48

4,474.48

.00

Cash And Equivalents
19,157.900

First Am Govt Ob Fd Cl Z
31846V567

04/01/26

Total Cash And Equivalents
Mutual Funds-Equity
306.000
58,134.000

Ishares Russell 2000 Etf
464287655

03/17/26 03/20/26

Schwab U S Large Cap Etf
808524201

03/25/26 03/30/26

Total Mutual Funds-Equity
Mutual Funds-Fixed Income
38,625.160

Baird Core Plus Bond Fund Institut
057071870
03/27/26 03/30/26

0.44

.00

1,600.35

1,600.35

.00

4,463.000

Ishares Core U.S. Aggregate Bond Etf
464287226
03/02/26 03/05/26

3.91

.00

1,504.06

1,504.06

.00

24,027.099

Pgim Total Return Bond Cl R6
74440B884

0.56

.00

1,104.41

1,104.41

.00

12/22/22 03/31/26

Nuveen Core Bond Fund R6
87244W607

0.41

.00

975.10

975.10

.00

03/31/26 04/01/26
0.41

.00

627.44

627.44

.00

.00

5,811.36

5,811.36

.00

116.51

10,423.73

10,402.35

137.89

27,144.568
17,786.382

Voya Intermediate Bond Fund Class R6
92913L569
03/31/26 03/31/26

Total Mutual Funds-Fixed Income
Grand Total

00082201
54- -01-B -62 -094-01
0102 -11-04522-01

[!ljbank®

WEST WHITELAND TOWNSHIP OPEB
ACCOUNT

Page 11 of 21
Period from March 1, 2026 to March 31, 2026

INVESTMENT ACTIVITY
DATE

DESCRIPTION

CASH

Interest
First Am Govt Ob Fd Cl Z
31846V567
03/02/2026

Interest From 2/1/26 To 2/28/26

Total Interest

116.51
116.51

Dividends
Baird Core Plus Bond Fund Institut
057071870
03/27/2026

0.037727 USD/Share On 42,419.592 Shares Due 3/30/26
Dividend Payable 03/30/26

1,600.35

Ishares Core U.S. Aggregate Bond Etf
464287226
03/05/2026

0.316377 USD/Share On 4,754 Shares Due 3/5/26

1,504.06

Ishares Russell 2000 Etf
464287655
03/20/2026

0.442026 USD/Share On 306 Shares Due 3/20/26

135.26

Nuveen Core Bond Fund R6
87244W607
03/31/2026

Dividend From 3/1/26 To 3/31/26

975.10

Pgim Total Return Bond Cl R6
74440B884
03/31/2026

Dividend From 3/1/26 To 3/31/26

1,104.41

Schwab U S Large Cap Etf
808524201
03/30/2026

Schwab U S Large Cap Etf
0.0732 USD/Share On 59,279 Shares Due 3/30/26

4,339.22

00082201
54- -01-B -62 -094-01
0102 -11-04522-01

[!ljbank®

WEST WHITELAND TOWNSHIP OPEB
ACCOUNT

Page 12 of 21
Period from March 1, 2026 to March 31, 2026

INVESTMENT ACTIVITY (continued)
DATE

DESCRIPTION

CASH

Voya Intermediate Bond Fund Class R6
92913L569
03/31/2026

Dividend From 3/1/26 To 3/31/26

Total Dividends

627.44
10,285.84

00082201
54- -01-B -62 -094-01
0102 -11-04522-01

[!ljbank®

WEST WHITELAND TOWNSHIP OPEB
ACCOUNT

Page 13 of 21
Period from March 1, 2026 to March 31, 2026

PLAN EXPENSES
DATE

DESCRIPTION

CASH

Administrative Expenses
Investment Advisory And Management Fees
Management Fee
03/24/2026

Paid To US Bank Trust Fees
Inv 15172122 For January 2026

- 867.81

Total Management Fee

- 867.81

Total Investment Advisory And Management Fees

- 867.81

Total Administrative Expenses

- 867.81

Total Plan Expenses

- 867.81

00082201
54- -01-B -62 -094-01
0102 -11-04522-01

[!ljbank®

WEST WHITELAND TOWNSHIP OPEB
ACCOUNT

Page 14 of 21
Period from March 1, 2026 to March 31, 2026

OTHER ACTIVITY
DATE

DESCRIPTION

CASH

Transfers Out
Outgoing Domestic Wire
03/30/2026

Paid To W Whiteland Township General Fund
Opeb Reimbursement

- 159,360.87

Total Outgoing Domestic Wire

- 159,360.87

Total Transfers Out

- 159,360.87

Total Other Activity

- 159,360.87

00082201
54- -01-B -62 -094-01
0102 -11-04522-01

[!ljbank®

WEST WHITELAND TOWNSHIP OPEB
ACCOUNT

Page 15 of 21
Period from March 1, 2026 to March 31, 2026

PURCHASES
DATE

DESCRIPTION

SHARES/
FACE AMOUNT

COMMISSION

CASH

BOOK VALUE

Cash And Equivalents
03/05/2026

Purchased
1,504.06 Units Of
First Am Govt Ob Fd Cl Z
Trade Date 3/5/26
31846V567

1,504.060

.00

- 1,504.06

1,504.06

03/20/2026

Purchased 135.26
Units Of
First Am Govt Ob Fd Cl Z
Trade Date 3/20/26
31846V567

135.260

.00

- 135.26

135.26

03/27/2026

Purchased
57,958.8 Units Of
First Am Govt Ob Fd Cl Z
Trade Date 3/27/26
31846V567

57,958.800

.00

- 57,958.80

57,958.80

03/30/2026

Purchased
79,339.22 Units Of
First Am Govt Ob Fd Cl Z
Trade Date 3/30/26
31846V567

79,339.220

.00

- 79,339.22

79,339.22

Total First Am Govt Ob Fd Cl Z

138,937.340

.00

- 138,937.34

138,937.34

Total Cash And Equivalents

138,937.340

.00

- 138,937.34

138,937.34

306.000

3.06

- 80,578.89

80,578.89

Mutual Funds-Equity
03/02/2026

Purchased 306
Shares Of
Ishares Russell 2000 Etf
Trade Date 3/2/26
Purchased Through BofA Securities, Inc.
Swift External Ref#: Ngs3Jjyd5Qaauaad
306 Shares At 263.31970588 USD
464287655

00082201
54- -01-B -62 -094-01
0102 -11-04522-01

[!ljbank®

WEST WHITELAND TOWNSHIP OPEB
ACCOUNT

Page 16 of 21
Period from March 1, 2026 to March 31, 2026

PURCHASES (continued)
DESCRIPTION

SHARES/
FACE AMOUNT

COMMISSION

CASH

BOOK VALUE

Total Ishares Russell 2000 Etf

306.000

3.06

- 80,578.89

80,578.89

Total Mutual Funds-Equity

306.000

3.06

- 80,578.89

80,578.89

158.137

.00

- 1,600.35

1,600.35

Total Baird Core Plus Bond Fund Institut

158.137

.00

- 1,600.35

1,600.35

03/31/2026

106.336

.00

- 975.10

975.10

Total Nuveen Core Bond Fund R6

106.336

.00

- 975.10

975.10

03/31/2026

91.652

.00

- 1,104.41

1,104.41

Total Pgim Total Return Bond Cl R6

91.652

.00

- 1,104.41

1,104.41

03/31/2026

71.626

.00

- 627.44

627.44

71.626

.00

- 627.44

627.44

DATE

Mutual Funds-Fixed Income
03/27/2026

Purchased
158.137 Shares
Baird Core Plus Bond Fund Institut @ 10.12 USD
Through Reinvestment Of Cash Dividend Due 3/30/26
057071870

Purchased
106.336 Shares
Nuveen Core Bond Fund R6 @ 9.17 USD
Through Reinvestment Of Cash Dividend Due 3/31/26
87244W607

Purchased 91.652
Shares
Pgim Total Return Bond Cl R6 @ 12.05 USD
Through Reinvestment Of Cash Dividend Due 3/31/26
74440B884

Purchased 71.626
Shares
Voya Intermediate Bond Fund Class R6 @ 8.76 USD
Through Reinvestment Of Cash Dividend Due 3/31/26
92913L569

Total Voya Intermediate Bond Fund Class R6

00082201
54- -01-B -62 -094-01
0102 -11-04522-01

[!ljbank®

WEST WHITELAND TOWNSHIP OPEB
ACCOUNT

Page 17 of 21
Period from March 1, 2026 to March 31, 2026

PURCHASES (continued)
DATE

DESCRIPTION

Total Mutual Funds-Fixed Income
Total Purchases

SHARES/
FACE AMOUNT

COMMISSION

CASH

BOOK VALUE

427.751

.00

- 4,307.30

4,307.30

139,671.091

3.06

- 223,823.53

223,823.53

00082201
54- -01-B -62 -094-01
0102 -11-04522-01

[!ljbank®

WEST WHITELAND TOWNSHIP OPEB
ACCOUNT

Page 18 of 21
Period from March 1, 2026 to March 31, 2026

SALES AND MATURITIES
SHARES/
FACE AMOUNT

COMMISSION

TRANSACTION
PROCEEDS

BOOK VALUE

REALIZED
GAIN/LOSS

03/03/2026 Sold 462.38
Units Of
First Am Govt Ob Fd Cl Z
Trade Date 3/3/26
31846V567

- 462.380

.00

462.38

- 462.38

.00

03/24/2026 Sold 867.81
Units Of
First Am Govt Ob Fd Cl Z
Trade Date 3/24/26
31846V567

- 867.810

.00

867.81

- 867.81

.00

03/30/2026 Sold
159,360.87 Units Of
First Am Govt Ob Fd Cl Z
Trade Date 3/30/26
31846V567

- 159,360.870

.00

159,360.87

- 159,360.87

.00

Total First Am Govt Ob Fd Cl Z

- 160,691.060

.00

160,691.06

- 160,691.06

.00

Total Cash And Equivalents

- 160,691.060

.00

160,691.06

- 160,691.06

.00

03/02/2026 Sold
1,090.215 Shares Of
Columbia Small Cap Growth Inst3
Trade Date 3/2/26
1,090.215 Shares At 36.69 USD
19765Y340

- 1,090.215

.00

40,000.00

- 35,575.00

4,425.00

Total Columbia Small Cap Growth Inst3

- 1,090.215

.00

40,000.00

- 35,575.00

4,425.00

03/27/2026 Sold
358.809 Shares Of
Janus Henderson Overseas N
Trade Date 3/27/26
358.809 Shares At 55.74 USD
47103D835

- 358.809

.00

20,000.00

- 18,324.39

1,675.61

DATE

DESCRIPTION

Cash And Equivalents

Mutual Funds-Equity

00082201
54- -01-B -62 -094-01
0102 -11-04522-01

[!ljbank®

WEST WHITELAND TOWNSHIP OPEB
ACCOUNT

Page 19 of 21
Period from March 1, 2026 to March 31, 2026

SALES AND MATURITIES (continued)
SHARES/
FACE AMOUNT

COMMISSION

TRANSACTION
PROCEEDS

BOOK VALUE

REALIZED
GAIN/LOSS

Total Janus Henderson Overseas N

- 358.809

.00

20,000.00

- 18,324.39

1,675.61

03/27/2026 Sold 555.35
Shares Of
Mfs Intl Diversificat R6
Trade Date 3/27/26
555.35 Shares At 27.01 USD
552743544

- 555.350

.00

15,000.00

- 14,616.80

383.20

Total Mfs Intl Diversificat R6

- 555.350

.00

15,000.00

- 14,616.80

383.20

03/02/2026 Sold
3,259.984 Shares Of
Pimco Rae US Small Instl
Trade Date 3/2/26
3,259.984 Shares At 12.27 USD
72202L421

- 3,259.984

.00

40,000.00

- 39,459.11

540.89

Total Pimco Rae US Small Instl

- 3,259.984

.00

40,000.00

- 39,459.11

540.89

03/26/2026 Sold 1,145
Shares Of
Schwab U S Large Cap Etf
Trade Date 3/26/26
Sold Through J.P. Morgan Securities LLC
Paid 11.45 USD Brokerage
Swift External Ref#: Nhcxaeyd4Qaagaad
1,145 Shares At 25.57 USD
808524201

- 1,145.000

11.45

29,266.20

- 25,815.16

3,451.04

Total Schwab U S Large Cap Etf

- 1,145.000

11.45

29,266.20

- 25,815.16

3,451.04

Total Mutual Funds-Equity

- 6,409.358

11.45

144,266.20

- 133,790.46

10,475.74

DATE

DESCRIPTION

Mutual Funds-Fixed Income

00082201
54- -01-B -62 -094-01
0102 -11-04522-01

[!ljbank®

WEST WHITELAND TOWNSHIP OPEB
ACCOUNT

Page 20 of 21
Period from March 1, 2026 to March 31, 2026

SALES AND MATURITIES (continued)
SHARES/
FACE AMOUNT

COMMISSION

TRANSACTION
PROCEEDS

BOOK VALUE

REALIZED
GAIN/LOSS

03/27/2026 Sold
3,952.569 Shares Of
Baird Core Plus Bond Fund Institut
Trade Date 3/27/26
3,952.569 Shares At 10.12 USD
057071870

- 3,952.569

.00

40,000.00

- 42,907.38

- 2,907.38

Total Baird Core Plus Bond Fund Institut

- 3,952.569

.00

40,000.00

- 42,907.38

- 2,907.38

03/26/2026 Sold 291
Shares Of
Ishares Core U.S. Aggregate Bond Etf
Trade Date 3/26/26
Sold Through BofA Securities, Inc.
Paid 2.91 USD Brokerage
Swift External Ref#: Nhcxafqd4Qaaeaad
291 Shares At 98.61 USD
464287226

- 291.000

2.91

28,692.60

- 28,354.67

337.93

Total Ishares Core U.S. Aggregate Bond Etf

- 291.000

2.91

28,692.60

- 28,354.67

337.93

- 4,243.569

2.91

68,692.60

- 71,262.05

- 2,569.45

- 171,343.987

14.36

373,649.86

- 365,743.57

7,906.29

DATE

DESCRIPTION

Total Mutual Funds-Fixed Income
Total Sales And Maturities

SALES AND MATURITIES MESSAGES
Realized gain/loss should not be used for tax purposes.

00082201
54- -01-B -62 -094-01
0102 -11-04522-01

[!ljbank®

WEST WHITELAND TOWNSHIP OPEB
ACCOUNT

Page 21 of 21
Period from March 1, 2026 to March 31, 2026

BROKER COMMISSIONS
BROKER/PARTY
SHARES/
UNITS

DATE DESCRIPTION

PURCHASE COST/
SALE PROCEEDS

BROKER
COMMISSION

OTHER
EXPENSE

TOTAL COST/
NET PROCEEDS

BofA Securities, Inc.
306.000

03/02/2026 Bought
Ishares Russell 2000 Etf
464287655

80,575.83

3.06

.00

80,578.89

291.000

03/26/2026 Sold
Ishares Core U.S. Aggregate Bond Etf
464287226

28,695.51

2.91

.00

28,692.60

109,271.34
2

5.97
.01

.00

109,271.49

29,277.65

11.45

.00

29,266.20

Total J.P. Morgan Securities LLC
# Trades/Commission Per Share

29,277.65
1

11.45
.01

.00

29,266.20

Grand Total

138,548.99

17.42

.00

138,537.69

Total BofA Securities, Inc.
# Trades/Commission Per Share
J.P. Morgan Securities LLC
1,145.000

03/26/2026 Sold
Schwab U S Large Cap Etf
808524201