The performance objectives specified in Options 7 and 9, above, will apply to each respective portion of Option 10. OPTION 11 AGE-RATED INVESTMENT GUIDELINES OBJECTIVE The age-rated investment option is intended to provide Program participants with an asset allocation profile that links the amount of volatility in the portfolio directly to the investment horizon of the participant. As the participant approaches the date at which account balances will be used for college expenses, a lower tolerance for risk is assumed and the equity component of the portfolio is reduced accordingly. ASSET ALLOCATION The assets of each participant’s account will be invested in fixed income (Option 7) and equity (Option 9) in accordance with the guidelines described under the Options” section “Investment of this CIP. The Board may periodically request an audit to ensure that participant balances are managed in accordance with these guidelines. INVESTMENT GUIDELINES The investment guidelines specified in Options 7 and 9, above, will apply to each account balance maintained under Option 11. PERFORMANCE OBJECTIVES The performance objectives specified in Options 7 and 9, above, will apply to each account balance maintained under Option 11.
The performance objectives specified in Options 7 and 9, above, will apply to each respective portion of Option 10. OPTION 11 AGE-RATED INVESTMENT GUIDELINES OBJECTIVE The age-rated investment option is intended to provide Program participants with an asset allocation profile that links the amount of volatility in the portfolio directly to the investment horizon of the participant. As the participant approaches the date at which account balances will be used for college expenses, a lower tolerance for risk is assumed and the equity component of the portfolio is reduced accordingly. ASSET ALLOCATION The assets of each participant’s account will be invested in fixed income (Option 7) and equity (Option 9) in accordance with the guidelines described under the “Investment Options” section of this CIP. The Board may periodically request an audit to ensure that participant balances are managed in accordance with these guidelines. INVESTMENT GUIDELINES The investment guidelines specified in Options 7 and 9, above, will apply to each account balance maintained under Option 11. PERFORMANCE OBJECTIVES The performance objectives specified in Options 7 and 9, above, will apply to each account balance maintained under Option 11.
ITN_15-01_small_cap.docx