Investment Funds Description Updates

These changes highlight mid-year updates to the administration of the General Board's funds that should be reviewed in addition to the Investment Funds Description (PDF, 459K).

August 1, 2010

Effective August 1, 2010, the names of three General Board investment funds changed:

• The Domestic Stock Fund (DSF) became the U.S. Equity Fund (USEF).
• The International Stock Fund (ISF) became the International Equity Fund (IEF).
• The Domestic Bond Fund (DBF) became the Fixed Income Fund (FIF).

The General Board changed these funds’ names to align them more closely with the funds’ investment strategies. Only the names of these funds changed. The funds’ investment strategies, investment managers, fund expenses, management and administration remain the same.

June 30, 2010

Effective June 30, 2010, the General Board changed the performance benchmark for the Stable Value Fund. The new benchmark is the BofA Merrill Lynch Wrapped 1-5 Year Corporate/Government Index, which replaces the Ryan Labs 3-Year GIC Index. The new benchmark better reflects the composition of the underlying fund assets.

May 28, 2010

Effective June 1, 2010, the General Board discontinued estimating and setting the Stable Value Fund crediting rate at the beginning of each month. Instead, the crediting rate will be determined based on the actual daily interest earned by the underlying fund assets. The crediting rate, reflecting actual interest earned that month, will be posted to this page at the end of the month.

This change aligns with industry standards and does not affect the management of Stable Value Fund assets. The General Board will continue crediting Stable Value Fund interest to participants’ accounts at the end of each month and/or whenever they withdraw or transfer their entire balance from this fund.