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A new retirement savings experience is just ahead The AbbVie Savings Plan is transitioning to a new recordkeeper effective April 1, 2021
Introduction
Table of contents The AbbVie Savings Plan (Plan) recordkeeper is changing
from Alight Solutions (Alight) to Empower Retirement
2 | Introduction (Empower) effective April 1, 2021.
Together with Empower, we are committed to helping you
3 | Important dates reach the retirement you imagine. This change will have no
impact on the design or provisions of the Plan.
4 | What’s new in the AbbVie Savings Plan?
As a result of this change, you will be temporarily unable to
6 | Get started on the right foot perform transactions in your Plan account for a period of
time called a blackout period. Review carefully the
7 | Important notice concerning your rights information in this guidebook to help you prepare for the
transition to Empower.
in the AbbVie Savings Plan
The transition happens automatically
To make the transition as smooth as possible,
your elections, contributions, investments,
beneficiary designations, and any loan or
distribution arrangements will transfer
automatically. Other than making any changes
you want before the blackout period, you do
not need to do anything during the transition.
2Important dates
DATES
March 22, 2021 Deadline to return transaction documentation
If you have requested a hardship withdrawal, primary residential loan or rollover contribution, this is your
last day to return documentation to Alight (855-538-7796, Alight UPoint digital.alight.com/abbvie).
If you miss the deadline, you’ll be able to make requests with Empower after the end of the blackout
period, which is expected to occur the week of April 11, 2021. Plan accordingly to ensure your
documentation is received in a timely manner.
March 29, 2021 Deadline to make account changes
This is your last day to contact Alight (855-538-7796, Alight UPoint digital.alight.com/abbvie) to
request account transactions, including changes to contribution rates, investment elections, loans,
withdrawals or distributions. If you miss the deadline, you’ll be able to make requests with Empower
after the end of the blackout period, which is expected to occur the week of April 11, 2021.
March 29, 2021, at Plan blackout period begins
3 p.m. CT As part of the transition, there will be a required blackout period, which occurs when moving accounts
and balances to a new recordkeeper. The blackout period will begin at 3 p.m. CT on March 29, 2021,
and is expected to end during the week of April 11, 2021. The blackout applies to your AbbVie Savings
Plan account only. You will have continued access to your AbbVie Pension Plan account at Alight.
During this time, you will have limited access to your account at Alight and no access to your account at
Empower. Once the blackout period begins, you will not be able to change your contribution rate, make
investment election changes or obtain loans or distributions until the blackout period ends. See the
Important notice concerning your rights in the AbbVie Savings Plan section of this document
for details.
During the blackout period, your investments will continue to gain and/or lose value depending on
market conditions.
Payroll deductions and any matching contributions will continue during the blackout period and will be
reflected in your account when the blackout is complete.
Week of April 11, 2021 Plan blackout period is expected to end
Enjoy full access to your Empower account online, by phone and on the Empower app. You will be
notified by email and postcard when the blackout period ends.
We’ve got your back
As you continue to plan for a successful financial future, we’re here to help. Let us know if you have any questions about your
Plan account.
Check in at savingsplan.abbvie.net or 844-8-ABBVIE (844-822-2843).
¿Preguntas?
Si necesita ayuda sobre el contenido de este folleto o tiene preguntas, por favor llame a Empower.
3What’s new in the AbbVie Savings Plan?
AbbVie understands the importance that our 401(k) plan plays in your long-term financial strategy. Below and on the next page,
you will find information on some investment changes and features you can access at savingsplan.abbvie.net after the transition
to Empower.
Announcing changes to the investment options in the Plan
On April 1, 2021, the share class for the State Street Target Retirement Funds will change, resulting in lower investment costs for
you. You do not need to take any action. Your money in the State Street Target Retirement Funds will automatically transfer to the
new share class of the funds. The following chart shows the old and new expense ratios for each of the State Street Target
Retirement Funds.
YOUR AGE-APPROPRIATE TARGET PRIOR EXPENSE NEW EXPENSE
IF YOU WERE BORN: DATE INVESTMENT OPTION IS: RATIO RATIO
12/31/1952 or earlier State Street Target Retirement Income NL Fund M 0.10% 0.07%
1/1/1953 - 12/31/1957 State Street Target Retirement 2020 NL Fund M 0.10% 0.07%
1/1/1958 - 12/31/1962 State Street Target Retirement 2025 NL Fund M 0.10% 0.07%
1/1/1963 - 12/31/1967 State Street Target Retirement 2030 NL Fund M 0.10% 0.07%
1/1/1968 - 12/31/1972 State Street Target Retirement 2035 NL Fund M 0.10% 0.07%
1/1/1973 - 12/31/1977 State Street Target Retirement 2040 NL Fund M 0.10% 0.07%
1/1/1978 - 12/31/1982 State Street Target Retirement 2045 NL Fund M 0.10% 0.07%
1/1/1983 - 12/31/1987 State Street Target Retirement 2050 NL Fund M 0.10% 0.07%
1/1/1988 - 12/31/1992 State Street Target Retirement 2055 NL Fund M 0.10% 0.07%
1/1/1993 - 12/31/1997 State Street Target Retirement 2060 NL Fund M 0.12% 0.07%
1/1/1998 or later State Street Target Retirement 2065 NL Fund M 0.12% 0.07%
On April 30, 2021, two investment options will be removed from the fund lineup — GMO Global Asset Allocation R6 (GMWRX) and
PIMCO All Asset Instl (PAAIX). AbbVie regularly reviews the investments available in the Plan and determined that these investment
options had low utilization when compared to similar investments available in the Plan. If you are currently participating in these
investment options, your account balance and any future contributions for these options will be transferred to an age-appropriate
State Street Target Retirement NL Fund M (target date fund) based on your date of birth as described in the table above, assuming
age 65 as the standard retirement age. You can also make changes with Empower after the fund lineup change is complete.
Empower Brokerage Account
After the transition is complete, you will have additional investment options beyond the Plan’s core funds through an Empower
Brokerage account. If you’re an experienced investor looking for ways to diversify your portfolio, this self-directed brokerage
account makes it easy to allocate your assets over a broad array of investment options.
Additional information about the Empower Brokerage account investment option will be provided to you in the near future. Please
review all such information before electing to invest any portion of your Plan account balance in investments through Empower
Brokerage. The Empower Brokerage account is intended for knowledgeable investors who acknowledge and understand the
risks associated with the investments available through an Empower Brokerage account.
4Your retirement savings experience simplified
After the transition is complete, you can log in to view your Plan account and find information such as:
• Your savings rate.
• The total savings you have in the Plan.
• Your estimated monthly retirement income.
• The percentage of your current salary you’re on track to replace in retirement.
My Financial Path
The AbbVie Savings Plan is partnering with Empower to offer you a new approach to improving your financial wellness. My
Financial Path can help you make better sense of your long-term savings needs. Whether you’re new to the workforce, in
the middle of your career or getting close to retirement, My Financial Path provides personalized, actionable steps you can
take to reduce financial stress and help you get closer to achieving your long-term financial goals.
5Get started on the right foot
Visit the website
At savingsplan.abbvie.net you can find additional information about the Plan transition, what’s changing and the blackout period
(which is described in detail on pages 3 and 7). When the blackout period is over, savingsplan.abbvie.net will convert to
Empower’s interactive website with tools to help you manage your Plan account.
Understand how your account will transfer
The Plan continues to provide a diversified mix of investment options. As part of the transition to Empower, your Plan account will
remain invested in the same funds in which you are invested as of March 29, 2021, at 3 p.m. CT.
If you’d like your account to be invested differently, you can either change the elections for your current balance and/or your future
contributions by contacting Alight (855-538-7796, Alight UPoint digital.alight.com/abbvie) by March 29, 2021, or you can
make changes with Empower after the transition and blackout period are complete.
Alight Financial Advisors (AFA) program
If you’re enrolled in the AFA program at the start of the blackout period, your enrollment will transfer to the Professional
Management Program at Empower.* In early March, you will receive additional information in the mail from Alight regarding how
your enrollment will transfer. If you wish to cancel AFA management of your account before the transition to Empower, please call
AFA at 855-538-7796 before 3 p.m. CT on March 25, 2021.
Through the Plan, you currently have the option to enroll in the AFA program offered in partnership with Financial Engines. After the
transition to Empower, you will have the option to enroll in the Professional Management Program offered through Advised Assets
Group, LLC (AAG), an Empower affiliate.
There is no guarantee provided by any party that participation in any of the advisory services will result in a profit.
Your account statements and history
After April 1, 2021, you will no longer have access to your AbbVie Savings Plan account at Alight. Your historical Plan data with
Alight will not transfer to Empower (e.g., statements, investment history, contribution and balance history). If you wish to save
copies of your historical Plan data, sign on to your account at Alight UPoint digital.alight.com/abbvie before April 1, 2021, to
download your desired information. Alight will provide a final first-quarter 2021 statement in April 2021 that reflects the transfer of
your Plan account to Empower. In July 2021, you will receive your first quarterly statement from Empower, which will reflect the
amount transferred to your account at Empower.
No longer employed at AbbVie?
You’re receiving this announcement because you have a balance in the Plan. And even though you’re not actively
contributing, you can still take advantage of certain Plan features.
If you have separated from employment and are currently repaying a loan through automated clearing house (ACH) debits
from a personal bank account, your bank account information will transfer to Empower. If you make loan repayments by
check to Alight, you will need to send your payments to Empower beginning in April 2021 to avoid defaulting on your loan.
More information, including payment instructions, will be sent to you in March and April.
*
The Professional Management Program is part of the Empower Retirement Advisory Services suite of services offered by Advised Assets Group,
LLC, a registered investment adviser.
6Important notice concerning your rights in the
AbbVie Savings Plan
February 26, 2021
This notice is to inform you that your account in the AbbVie Savings Plan will transfer to Empower Retirement effective April 1, 2021.
As a result of this change, you temporarily will be unable to check your account balance; transfer or diversify your investments in
your AbbVie Savings Plan account; or obtain a loan, withdrawal or distribution. This period during which you will be unable to
exercise these rights otherwise available under the Plan is called a blackout period. Whether or not you are planning retirement in
the near future, we encourage you to carefully consider how this blackout period may affect your retirement planning as well as
your overall financial plan. The temporary blackout period begins at 3 p.m. CT on March 29, 2021, and ends during the week of
April 11, 2021. During this time, you will have limited or no access to your account.
Before the blackout period begins, it is very important that you review and consider the appropriateness of your current
investments because you will be unable to transfer or diversify those investments during the blackout period. For your long-term
retirement security, you should give careful consideration to the importance of a well-balanced and diversified investment
portfolio, taking into account all your assets, income and investments.
You should be aware that there is a risk to holding substantial portions of your assets in the securities of any one company as
individual securities tend to have wider price swings, both up and down, in short periods of time than investments in diversified
funds. Stocks that have wide price swings might have a large loss during the blackout period, and you would not be able to direct
the sale of such stocks from your account during the blackout period.
To review your Plan account before the blackout period begins, contact Alight at 855-538-7796 or access your account online
at Alight UPoint digital.alight.com/abbvie by March 29, 2021. If you have questions concerning this notice, please contact
Empower at 844-8-ABBVIE (844-822-2843).
Once the blackout period has ended, you will receive a notice from Empower. You will then have full access to your
Plan account online and by phone. If you would like to confirm the status of the blackout period, contact Empower at
844-8-ABBVIE (844-822-2843) or visit savingsplan.abbvie.net.
These dates and times are subject to change. Please contact Empower for more information.
7Carefully consider the investment option’s objectives, risks, fees and expenses. Contact Empower Retirement for a prospectus, summary prospectus for SEC-registered products or disclosure document for unregistered products, if available, containing this information. For prospectuses related to investments in your self-directed brokerage account (SDBA), contact your SDBA provider. Read them carefully before investing. Investing involves risk, including possible loss of principal. Fund changes may alter the risk exposure of an investment account. Some cash-alternative options (other than money market funds), such as guaranteed interest funds or stable value funds, may have withdrawal and transfer restrictions. Carefully consider the importance of a well- balanced and diversified investment portfolio, taking into account all your assets, income and investments. Adjustments may be needed to realign the account with its desired investment strategy. Once the transition is complete, please review the information for each fund on the Plan website. Securities offered and/or distributed by GWFS Equities, Inc., Member FINRA/SIPC. GWFS is an affiliate of Empower Retirement, LLC; Great- West Funds, Inc.; and registered investment advisers, Advised Assets Group, LLC and Personal Capital. This material is for informational purposes only and is not intended to provide investment, legal or tax recommendations or advice. Securities available through Empower Brokerage are offered by GWFS Equities, Inc., Member FINRA/SIPC and a subsidiary of Great- West Life & Annuity Insurance Company. Clearing, settlement, custody and other brokerage services are provided by Pershing LLC, Member FINRA/NYSE/SIPC and a wholly owned subsidiary of The Bank of New York Mellon Corporation. Additional information may be obtained by calling 877-788-6261. GWFS and Pershing are separate and unaffiliated brokerage firms. Accounts are subject to review and approval of GWFS. Brokerage Products: Unless otherwise noted: NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE Asset allocation and balanced investment options and models are subject to the risks of their underlying investments. Empower Retirement Advisory Services refers to the advisory services offered by Advised Assets Group, LLC, such as the Professional Management Program and Online Advice. AAG uses Financial Engines Advisors L.L.C. to provide subadvisory services. AAG and FEA are unaffiliated registered investment advisers. FEA is a subsidiary of Edelman Financial Engines, LLC. AAG is a subsidiary of Great-West Life & Annuity Insurance Company. Financial Engines is a registered trademark of Edelman Financial Engines, LLC. ©2021 Edelman Financial Engines, LLC. Future results are not guaranteed by AAG, FEA or any other party. IMPORTANT: The projections, or other information generated on the website by the investment analysis tool regarding the likelihood of various investment outcomes, are hypothetical in nature, do not reflect actual investment results and are not guarantees of future results. The results may vary with each use and over time. My Financial Path includes products made available by Empower Retirement, LLC and third-party providers outside the retirement benefits provided under your Plan. Inclusion of a product in My Financial Path is not an endorsement or recommendation of the product by the Plan’s sponsor, service providers or fiduciaries. Diversification does not ensure a profit and does not protect against loss in declining markets. Alight is not affiliated with GWFS Equities, Inc. or its parent company or affiliates. Unless otherwise noted: Not a Deposit | Not FDIC Insured | Not Bank Guaranteed | Funds May Lose Value | Not Insured by Any Federal Government Agency ©2021 Empower Retirement, LLC. All rights reserved.150569-01-FBK-WF-892540-0221 RO1500904-0221
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