OppenheimerFunds, Inc. Retirement Services Releases White Paper by Fred Reish on The Value of Tru(k)ourse(TM) Feature

NEW YORK, Oct. 7 /PRNewswire/ -- OppenheimerFunds, Inc. (OFI) Retirement Services today announced the release of a white paper entitled "Evaluation of OppenheimerFunds Tru(k)ourse(TM)" by Fred Reish, a nationally renowned speaker and authority on fiduciary responsibility, compliance and litigation issues, and partner with the law firm of Reish Luftman Reicher & Cohen. Tru(k)ourse(TM), an enhancement to OFI's Pinnacle and Record(k)eeper Pro(SM) platforms, launched in February 2008 and maximizes the advantages of key provisions of the Pension Protection Act of 2006 (PPA). In his analysis of OppenheimerFunds Tru(k)ourse(TM), Reish focuses on the value of this new feature, available exclusively and at no additional cost through OppenheimerFunds Retirement Services.

According to Reish, many 401(k) participants are passive when it comes to retirement plan savings and investing. The Tru(k)ourse(TM) program helps plan sponsors by automatically combining automatic enrollment, automatic deferral increases and a Qualified Default Investment Alternative (QDIA), including the ability to automatically select funds for participants based on their ages. The Tru(k)ourse(TM) program helps fiduciaries satisfy their duties under the Employee Retirement Income Security Act of 1974 (ERISA).

"It's not enough for a plan to provide top-quality investments," said Rick Fuerman, VP, OppenheimerFunds Retirement Services. "It's equally important for the plan to provide adequate retirement benefits and help get employees to retirement by offering key features such as auto enrollment, auto deferral increase and a QDIA."

In the white paper, Reish discusses how Tru(k)ourse(TM) aims to help the plan sponsor solve fiduciary issues around participant education, and provides critical information needed to manage a plan. The paper details the ways in which Tru(k)ourse(TM) responds to a host of common plan issues, as well as how it sets a high standard for fiduciary best practices. Reish also describes how OppenheimerFunds' comprehensive suite of education, communication and support geared towards plan sponsors, including ongoing participant and plan sponsor education, assists plan sponsors in fulfilling their responsibilities. According to Reish, OppenheimerFunds' educational programs inform plan sponsors about current issues and empower participants by providing them with financial education.

"Education is an important part of our retirement business at OppenheimerFunds," said Fuerman. "In line with our 'Plans That Work' philosophy, we recognize the importance of providing the tools plan sponsors need to prepare participants to retire and strive to do so through Tru(k)ourse(TM)," Fuerman said.

About OppenheimerFunds, Inc.

OppenheimerFunds, Inc. is one of the nation's largest and most respected investment management companies. At September 30, 2008, OppenheimerFunds, Inc., including subsidiaries and controlled affiliates, managed more than $195 billion in assets, including mutual funds having more than 6 million shareholder accounts.

Shares of mutual funds are not deposits or obligations of any bank, are not guaranteed by any bank, are not insured by the FDIC or any other agency, and involve investment risks, including the possible loss of the principal amount invested.

The products and services of OppenheimerFunds, Inc. and its controlled affiliates include: mutual funds, hedge funds of funds, qualified retirement plans for individuals and corporations, investment management for institutions and sub-advisory services. OppenheimerFunds is widely recognized as a leader in educating and empowering investors and for its award-winning customer service.

Before investing in any of the Oppenheimer funds, investors should carefully consider a fund's investment objectives, risks, charges and expenses. Fund prospectuses contain this and other information about the funds, and may be obtained by asking your financial advisor, calling us at 1.800. 525.7048 or visiting our website at www.oppenheimerfunds.com. Read prospectuses carefully before investing.

Oppenheimer funds are distributed by OppenheimerFunds Distributor, Inc., Two World Financial Center, 225 Liberty Street, 11th Floor, New York, NY 10281. OppenheimerFunds, Inc. is a member of the MassMutual Financial Group and is not affiliated with Oppenheimer & Co, Inc. or Oppenheimer Capital.

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