Manager: Voya Investment Management CO. LLC manages the underlying assets for the State of Michigan Stable Value Fund.

Category: Stable Value

Objective: To provide Plan participants with a stable level of current income consistent with conservation of capital.

Strategy: Under normal market conditions, the portfolio will be diversified across a range of fixed income securities, including U.S. Treasuries, residential and commercial mortgage-backed securities, asset-backed securities and corporate bonds, which are rated in the three highest investment grade categories — AAA, AA and A — by a nationally recognized, independent rating organization. The portfolio also invests in traditional Guaranteed Interest Contracts issued by various insurance companies.

Fund fact sheet

For more information on this investment option, read the article, ‘What is a stable value investment option?’