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Terms & Condition

These Terms of Use ("Terms of Use") are made between the undersigned user ("you") and Lord, Abbett & Co. ("we" or "us"). They become effective on the date that you electronically execute these Terms of Use ("Effective Date").

A. You are a successful financial consultant that markets securities, including the Lord Abbett Family of Funds;

B. We have developed the Lord Abbett Intelligence System (the "Intelligence System"), a state of the art information resource that we make available to a limited community of broker/dealers through the Internet at a secure Web site (the "LAIS Site"); and

C. We wish to provide access to the Intelligence System to you as an information tool responsive to the demands of your successful business pursuant to these Terms of Use. Accordingly, you and we, intending to be legally bound, hereby agree as follows:]

1. Overview. · Scope. These Terms of Use (which we may amend from time to time) govern your use of the Intelligence System. · Revisions; Changes. We may amend these Terms of Use at any time by posting amended Terms of Use ("Amended Terms of Use") on the LAIS Site. Any Amended Terms of Use will become effective immediately upon posting. Your use of the Intelligence System after any Amended Terms of Use become effective will be deemed to constitute your acceptance of those Amended Terms of Use.We may modify or discontinue the Intelligence System at any time, temporarily or permanently, with or without notice to you. Purpose of the Intelligence System. The Intelligence System is intended to be an information resource that you may use to contribute to your business research. The Intelligence System is for broker/dealer use only; it is not to be used with the public in oral, written or electronic form. The information on the Intelligence System and LAIS Site is for your information only and is neither the tax, legal or investment advice of Lord Abbett or its third-party sources nor their recommendation to purchase or sell any security.

2. Your Privileges. · Personal Use. Your use of the Intelligence System is a nontransferable privilege granted by us to you and that we may deny, suspend or revoke at any time, with or without cause or notice. · Access to and Use of the Intelligence System. The User ID and password (together, an "Access ID") issued by us to you (as subsequently changed by you from time to time) is for your exclusive access to and use of the Intelligence System. You will: (a) be responsible for the security and use of your Access ID, (b) not disclose your Access ID to anyone and (c) not permit anyone to use your Access ID. Any access or use of the Intelligence System through the use of your Access ID will be deemed to be your actions, for which you will be responsible. · Required Technology. You must provide, at your own cost and expense, the equipment and services necessary to access and use the Intelligence System. At any time, we may change the supporting technology and services necessary to use the Intelligence System. · Availability. We make no guarantee that you will be able to access the Intelligence System at any given time or that your access will be uninterrupted, error-free or free from unauthorized security breaches.

3. Rights in Data. Our use of information collected from you will be in accordance with our Privacy Policy posted on the LAIS Site. Our compliance with our Privacy Policy will survive any termination of these Terms of Use or of your use of the Intelligence System.

4. Your Conduct in the Use of the Intelligence System. You may access, search, view and store a personal copy of the information contained on the LAIS Site for your use as a broker/dealer. Any other use by you of the Intelligence System and the information contained on the LAIS Site these Terms of Use is strictly prohibited. Without limiting the preceding sentence, you will not: · Engage in or permit any reproduction, copying, translation, modification, adaptation, creation of derivative works from, distribution, transmission, transfer, republication, compilation or decompilation, reverse engineering, display, removal or deletion of the Intelligence System, any portion thereof, or any data, content or information provided by us or any of our third-party sources in any form, media or technology now existing or hereafter developed, that is not specifically authorized under these Terms of Use.

· Remove, obscure or alter any notice, disclaimer or other disclosure affixed to or contained within the Intelligence System, including any copyright notice, trademark and other proprietary rights notices and any legal notices regarding the data, content or information provided through the Intelligence System.

· Create a hyperlink to, frame or use framing techniques to enclose any information found anywhere on the LAIS Site without our express prior written consent.

· Impersonate any person, or falsely state or otherwise misrepresent his or her affiliation with any person in connection with any use of the Intelligence System.

· Breach or attempt to breach the security of the Intelligence System or any network, servers, data, or computers or other hardware relating to or used in connection with the Intelligence System; nor (b) use or distribute through the Intelligence System software or other tools or devices designed to interfere with or compromise the privacy, security or use of the Intelligence System by others or the operations or assets of any person.

· Violate any applicable law, including, without limitation, any state federal securities laws. 5. Your Representations and Warranties. You hereby represent and warrant to us, for our benefit, as of the time of these Terms of Use and for so long as you continue to use the Intelligence System, that (a) you are, and will continue to be, in compliance with these Terms of Use and any applicable laws and (b) you are authorized to provide to us the information we collect, as described in our Privacy Policy.

6. Disclaimer of Warranties.

· General Disclaimers.

THE INTELLIGENCE SYSTEM, THE LAIS SITE AND ALL DATA, INFORMATION AND CONTENT ON THE LAIS SITE ARE PROVIDED "AS IS" AND “AS AVAILABLE” AND WITHOUT ANY REPRESENTATIONS OR WARRANTIES OF ANY KIND. WITHOUT LIMITING THE PRECEDING SENTENCE, LORD ABBETT, ITS AFFILIATES, AGENTS, THIRD-PARTY SUPPLIERS AND LICENSORS, AND THEIR RESPECTIVE EMPLOYEES, CONTRACTORS, DIRECTORS, OFFICERS AND SHAREHOLDERS (COLLECTIVELY, THE “LORD ABBETT GROUP”) EXPRESSLY DISCLAIM ALL WARRANTIES, WHETHER EXPRESS, IMPLIED OR STATUTORY, INCLUDING THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, AND NONINFRINGEMENT. YOU EXPRESSLY AGREE THAT YOUR USE OF THE LAIS SITE, THE INTELLIGENCE SYSTEM, AND THE DATA, INFORMATION AND CONTENT PRESENTED THERE ARE AT YOUR SOLE RISK AND THAT THE LORD ABBETT GROUP WILL NOT BE RESPONSIBLE FOR ANY (A) ERRORS OR INACCURACIES IN THE DATA, CONTENT AND INFORMATION ON THE LAIS SITE AND THE INTELLIGENCE SYSTEM OR (B) ANY TERMINATION, SUSPENSION, INTERRUPTION OF SERVICES, OR DELAYS IN THE OPERATION OF THE LAIS SITE OR THE INTELLIGENCE SYSTEM.

· Disclaimer Regarding Investment Research.

THE INTELLIGENCE SYSTEM INCORPORATES DATA, CONTENT AND INFORMATION FROM VARIOUS SOURCES THAT WE BELIEVE TO BE ACCURATE AND RELIABLE. HOWEVER, THE LORD ABBETT GROUP MAKES NO CLAIMS, REPRESENTATIONS OR WARRANTIES AS TO THE ACCURACY, TIMELINESS, COMPLETENESS OR TRUTHFULNESS OF SUCH DATA, CONTENT AND INFORMATION. YOU EXPRESSLY AGREE THAT YOU ARE RESPONSIBLE FOR INDEPENDENTLY VERIFYING YOUR INVESTMENT RESEARCH PRIOR TO FORMING YOUR INVESTMENT DECISIONS OR RENDERING INVESTMENT ADVICE. THE LORD ABBETT GROUP WILL NOT BE LIABLE FOR ANY INVESTMENT DECISION MADE BY YOU OR ANY OTHER PERSON BASED UPON THE DATA, CONTENT AND INFORMATION PROVIDED THROUGH THE INTELLIGENCE SYSTEM OR ON THE LAIS SITE.

· Survival.

THIS SECTION 6 SHALL SURVIVE ANY TERMINATION OF THESE TERMS OF USE OR YOUR USE OF THE INTELLIGENCE SYSTEM..

7. Limitations on Liability.

NONE OF THE MEMBERS OF THE LORD ABBETT GROUP WILL BE LIABLE TO YOU OR ANY OTHER PERSON FOR ANY DIRECT, INDIRECT, INCIDENTAL, CONSEQUENTIAL, PUNITIVE, SPECIAL OR EXEMPLARY DAMAGES (INCLUDING LOSS OF PROFITS, LOSS OF USE, TRANSACTION LOSSES, OPPORTUNITY COSTS, LOSS OF DATA, OR INTERRUPTION OF BUSINESS) RESULTING FROM, ARISING OUT OF OR IN ANY WAY RELATING TO THE INTELLIGENCE SYSTEM, THE LAIS SITE OR YOUR USE THEREOF, EVEN IF THE LORD ABBETT GROUP HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. THIS SECTION 7 WILL SURVIVE ANY TERMINATION OF THESE TERMS OF USE OR YOUR USE OF THE INTELLIGENCE SYSTEM.

8. Miscellaneous Provisions.

· Governing Law. This Agreement will governed by and construed in accordance with the laws of the State of New York, without giving effect to applicable conflicts of law principles.

THE UNIFORM COMPUTER INFORMATION TRANSACTIONS ACT OR ANY VERSION THEREOF, ADOPTED BY ANY STATE, IN ANY FORM ("UCITA") WILL NOT APPLY TO THESE TERMS OF USE. TO THE EXTENT THAT UCITA IS APPLICABLE, THE PARTIES HEREBY AGREE TO OPT OUT OF THE APPLICABILITY OF UCITA PURSUANT TO THE OPT-OUT PROVISION(S) CONTAINED THEREIN.

The Intelligence System is not intended to be used by consumers, nor are the consumer protection laws of any jurisdiction intended to apply to the Intelligence System. You agree to initiate and maintain any action, suit or proceeding relating to these Terms of Use or arising out of the use of the Intelligence System exclusively in the courts, state and federal, located in or having jurisdiction over New York County, New York.

YOU HEREBY CONSENT TO THE PERSONAL JURISDICTION AND VENUE OF THE COURTS, STATE AND FEDERAL, LOCATED IN OR HAVING JURISDICTION OVER NEW YORK COUNTY, NEW YORK. YOU AGREE THAT YOU WILL NOT OBJECT TO A PROCEEDING BROUGHT IN YOUR LOCAL JURISDICTION TO ENFORCE AN ORDER OR JUDGMENT OBTAINED IN NEW YORK.

· Relationship of Parties. The parties to these Terms of Use are independent contractors and nothing in these Terms of Use will be construed as creating an employment relationship, joint venture, partnership, agency or fiduciary relationship between the parties.

· Notice. All notices provided under these Terms of Use will be in writing and will be deemed effective: (a) when delivered personally, (b) when received by electronic delivery, (c) one business day after deposit with a commercial overnight carrier specifying next day delivery, with written verification of receipt, or (d) three business days after having been sent by registered or certified mail, return receipt requested. We will only accept notices from you in English and by conventional mail addressed to: General Counsel Lord, Abbett & Co. 90 Hudson Street Jersey City, N.J. 07302-3973 We may give you notice by conventional mail or electronic mail addressed to the last mail or electronic mail address transmitted by you to us.

· Third-Party Beneficiaries. The members of the Lord Abbett Group are third-party beneficiaries of the rights and benefits provided to us under these Terms of Use. You understand and agree that any right or benefit available to us or any member of the Lord Abbett Group hereunder will also be deemed to accrue to the benefit of, and may be exercised directly by, any member of the Lord Abbett Group to the extent applicable.

· Survival. This Section 8 will survive any termination of these Terms of Use or your use of the Intelligence System. The undersigned hereby signs these Terms of Use. By electronically signing and clicking "Accept" below, these Terms of Use will be legally binding on me. To sign these Terms of Use, confirm your full name and enter your User ID and Password (as your electronic signature) in the fields indicated below and click the “I Accept” button.

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Retirement Perspectives

SEP IRAs can help self-employed individuals and small businesses save more for retirement while reducing taxable income.

SEP [Simplified Employment Pension] IRAs, which were designed to provide self-employed individuals and small-business owners with the ability to save for retirement on a tax-deferred basis, may appeal to business owners who want to help their employees save, but do not want the cost or administrative and fiduciary responsibilities to assist with a qualified plan. Instead, SEP IRAs are low-cost, easy to establish and maintain, and allow the business owner to make discretionary contributions, based on the fortunes of the business. For business owners, the contributions they make to their own and to each eligible employee’s SEP IRA account generally are tax-deductible.

More important, sole proprietors and small-business owners who missed the deadline to set up a qualified retirement plan for the 2017 tax year still have time to establish a SEP IRA and claim the tax deduction for the 2017 tax season.

Establishing a SEP IRA
Any employer, including self-employed individuals, can establish a SEP. While the employee owns and controls the SEP IRA, workers are not permitted to contribute their own money to their SEPs. However, employer contributions can be commingled with workers’ traditional IRA accounts, but not with Roth IRAs or SIMPLE IRAs. SEP IRAs can be converted to Roth IRAs at any time.

Receiving a SEP allocation does not affect the amount an individual can contribute to a traditional or Roth IRA, although the investor may be not be able to realize a tax deduction as he/she could with a contribution to a traditional IRA. In other words, receiving a SEP contribution could prevent an investor from making a deduction contribution to a traditional IRA, whereas, Roth IRA contributions are always made on an aftertax basis. 

Because employees establish their own accounts, they have the flexibility to choose from a diverse universe of investment options offered by the IRA custodian. Employees are not restricted to a set menu of investments typically selected by their employer, as would be the case with a qualified plan.

Deadlines
SEP IRAs can be established and funded as late as the business's tax-filing deadline plus extension. For example, sole proprietors have at least until April 15 to establish a SEP IRA for 2017, and as late as October 15, 2018, if they are on extension.

Contributions
SEPs are funded solely with employer discretionary contributions. Contribution limits are generous, allowing an owner to shelter and potentially deduct 25% of compensation or $54,000 (whichever is less) in 2017. There is a slight increase to $55,000 for 2018. The percentage is reduced to 20% for business owners who are self-employed. Although SEP contributions are discretionary, they must be based on a written allocation formula, and every employee must get the same rate of contribution. Further, all contributions must be fully vested upon receipt. Employers are not permitted to defer any of their compensation.

As previously mentioned, receiving a SEP allocation does not affect traditional/Roth IRA limits. In other words, having a SEP IRA does not preclude the ability to fully fund a separate traditional or Roth IRA assuming eligibility has been satisfied.

Tip: All SEP contributions must be deposited into a traditional IRA established by the employee. SEP contributions cannot be contributed to a Roth or SIMPLE IRA.

Employer Liability
Unlike employers who offer qualified plans, such as 401(k)s, businesses that offer SEPs have reduced oversight and fiduciary obligations because SEPs are generally not subject to the fiduciary standards of the Employee Retirement Income Security Act (ERISA).

Reporting
Employers simply report SEP contributions on a business’s tax return. For individual participants, the IRA custodian reports SEP IRA contributions on IRS Form 5498 and distributions on IRS Form 1099-R. Keep in mind that the custodians report contributions in the year they are received. If an employer makes a 2017 contribution in 2018, the amounts reported by employees on their individual returns may not coincide with the employer’s filing. Employers are advised to keep their own records of SEP contributions.

Setup
Establishing a SEP IRA is straightforward. In most cases, the employer completes IRS Form 5305-SEP, while eligible employees establish their own individual SEP IRA. Employees generally are eligible to participate if they are at least 21, worked for the business in three of the last five years, and earned at least $600 for the year.

Employer Eligibility
Virtually any type and size of employer can establish a SEP IRA, including corporations, partnerships, self-employed, LLCs, and nonprofit organizations. If an employer establishes a SEP by using Form 5305-SEP, IRS requires that the SEP be the only retirement plan offered by the business.

Tip: Take caution when you and/or certain family members own a related business, as SEPs are subject to controlled-group rules. If you or family members own a controlling interest in another business, employees of that other business may need to be included in the SEP, assuming eligibility rules are satisfied.

Employee Notification
The business owner is required to make certain notifications to the employees within a reasonable time after the plan is established. Among other things, the employer must notify employees that a retirement plan has been established, what the eligibility rules are, and how the SEP contribution will be calculated and allocated.

Tip: These requirements, assuming you establish your SEP using IRS Form 5305-SEP, can be satisfied with a copy of Form 5305.

Rollovers
When it comes to rollovers, SEP IRAs, like traditional IRAs, are versatile. A SEP IRA account can be transferred to another SEP IRA at any time. Moreover, an individual can roll over a 401(k), 403(b), or governmental 457(b) into a SEP IRA, and vice-versa.

Converting to a Roth IRA
A SEP IRA can be converted into a Roth IRA, subject to the same rules as a conversion from a traditional IRA. As with a traditional IRA conversion, the amount of the SEP conversion is subject to federal and state taxation, but not to the 10% early-withdrawal penalty.

Tip:  Effective January 1, 2018, The Tax Cuts and Jobs Act repealed ability to recharaceterize Roth conversions. Therefore, a conversion to a Roth IRA is irrevocable.

Required Minimum Distributions
As with traditional IRAs, SEP IRA account owners are required to take a minimum distribution the year they turn age 70½. The required minimum distribution (RMD) rules permit the initial minimum distribution to be deferred until April 1 of the following year. Delaying an RMD requires the account owner to take two RMDs the following year.

Tip: An individual 70½ or older is eligible to participate in a SEP, assuming eligibility requirements have been satisfied. However, the individual also must take minimum distributions.

Caveats to Consider
The immediate vesting of SEP IRAs means employees can withdraw the contributions immediately for any reason. It also removes a potential retention tool from employers who cannot set a future date for vesting.

Unlike qualified plans, SEPs, like all IRAs, do not have a loan feature.

The mandated employee eligibility requirements mean that employees who work as little as one day in a year are qualified to participate. This can prove burdensome, especially to businesses that routinely hire part-time or seasonal employees.

While SEP IRAs offer some attractive features, including ease of use and cost-effectiveness, business owners are urged to consult with their tax professionals to make sure that a SEP is the right choice for the business owner’s particular situation. It should be noted that businesses that fund SEPs now may roll over the balance to a qualified plan that is established later, if that is the preference.

A SEP IRA can be a powerful tool in helping sole proprietors and employees of small businesses build their retirement savings. As with traditional IRAs, contributions to SEP IRAs, and the earnings they realize, are tax deferred until withdrawal. SEPs retain the distribution rules that apply to traditional IRAs. Of course, with opportunity comes responsibility, and with SEPs individuals are given sole responsibility for deciding how to manage their retirement account. Financial professionals are well positioned to both advise employers on establishing SEP IRAs and workers on how best to manage them.

If you have any questions about this or another retirement topic, please e-mail me at roadtoretirement@lordabbett.com.

 

To comply with Treasury Department regulations, we inform you that, unless otherwise expressly indicated, any tax information contained herein is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties that may be imposed under the Internal Revenue Code or any other applicable tax law, or (ii) promoting, marketing, or recommending to another party any transaction, arrangement, or other matter.

The information is being provided for general educational purposes only and is not intended to provide legal or tax advice. You should consult your own legal or tax advisor for guidance on regulatory compliance matters. Any examples provided are for informational purposes only and are not intended to be reflective of actual results and are not indicative of any particular client situation.

The information provided is not directed at any investor or category of investors and is provided solely as general information about Lord Abbett's products and services and to otherwise provide general investment education. None of the information provided should be regarded as a suggestion to engage in or refrain from any investment-related course of action as neither Lord Abbett nor its affiliates are undertaking to provide impartial investment advice, act as an impartial adviser, or give advice in a fiduciary capacity. If you are an individual retirement investor, contact your financial advisor or other fiduciary about whether any given investment idea, strategy, product or service may be appropriate for your circumstances.

GLOSSARY OF TERMS

Traditional IRA contributions plus earnings, interest, dividends, and capital gains may compound tax-deferred until you withdraw them as retirement income. Amounts withdrawn from traditional IRA plans are generally included as taxable income in the year received and may be subject to 10% federal tax penalties if withdrawn prior to age 59½, unless an exception applies.

A Roth IRA is a tax-deferred and potentially tax-free savings plan available to all working individuals and their spouses who meet the IRS income requirements. Distributions, including accumulated earnings, may be made tax-free if the account has been held at least five years and the individual is at least 59½, or if any of the IRS exceptions apply. Contributions to a Roth IRA are not tax deductible, but withdrawals during retirement are generally tax-free.

A Simplified Employee Pension plan, commonly known as a SEP IRA, is a retirement plan specifically designed for self-employed people and small-business owners. When establishing a SEP IRA plan for your business, you and any eligible employees establish your own separate SEP IRA; employer contributions are then made into each eligible employee’s SEP IRA.

A SIMPLE IRA plan is an IRA-based plan that gives small-business employers a simplified method to make contributions toward their employees’ retirement and their own retirement. Under a SIMPLE IRA plan, employees may choose to make salary reduction contributions and the employer makes matching or nonelective contributions. All contributions are made directly to an individual retirement account (IRA) set up for each employee (a SIMPLE IRA). SIMPLE IRA plans are maintained on a calendar-year basis.

A simplified employee pension plan (SEP IRA) is a retirement plan specifically designed for self-employed people and small-business owners. When establishing a SEP-IRA plan for your business, you and any eligible employees establish your own separate SEP-IRA; employer contributions are then made into each eligible employee’s SEP IRA.

401(k) is a qualified plan established by employers to which eligible employees may make salary deferral (salary reduction) contributions on an aftertax and/or pretax basis. Employers offering a 401(k) plan may make matching or nonelective contributions to the plan on behalf of eligible employees and may also add a profit-sharing feature to the plan. Earnings accrue on a tax-deferred basis.

A 403(b) plan is a retirement savings plan that allows employees of public schools, nonprofit, and 501(c)(3) tax-exempt organizations to invest on a pretax and or Roth aftertax basis. Contributions to a 403(b) plan are conveniently deducted directly from your paycheck. In addition, your employer may elect to make a contribution on your behalf.

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