Manager: State Street

Category: Target Retirement Income fund

Objective: Provide current income from fixed income securities while maintaining some exposure to equity investments for capital appreciation.

Strategy: The fund invests in a combination of U.S. stocks, International stocks, bonds and cash. The fund emphasizes fixed income investment over stocks. The fixed income exposure emphasizes short-term bonds to reduce interest rate risk. The fund maintains a small allocation to US and non- US stocks to provide moderate capital appreciation and diversification.

The State Street Target Retirement Income Fund has an asset allocation target of 25% equities and 75% fixed income securities.

On February 24, 2017, the cost of investing in the Plan’s target retirement date funds will decrease from .12 percent to .07 percent resulting in a lower net fund fee. The returns you will see here are blended returns, which combine the historical data from the previous fund share class K with the newer, lower cost share class M. Therefore, the returns may differ from what State Street reports on their fund fact sheets.

Fund fact sheet