Description of Asset Class:
Cash-equivalents - fixed income securities with less than 90 days to maturity.
- Benchmark Index: Solomon Brothers' 90-day Treasury Bill Index
Intermediate Fixed Income - fixed income securities with less than 10 years to maturity.
- Benchmark Index: Lehman Brothers Government/Corporate Bond Index
Long-Term Govt. Bonds - Government bonds with more than 10 years to maturity.
- Benchmark Index: Lehman Brothers' Long-Term Government Bond Index
Corporate Bonds - Bonds with ratings of at least Baa by Moody's or BBB by S& P
- Benchmark Index: Lehman Brother's Corporate Bond Index.
High Yield Bonds - bonds with ratings below Baa by Moody's or BBB by S& P.
Large Cap Equity - refers to the 500 stocks in the S&P 500 Index
Medium Cap Equity - refers to stocks in the top 80% of capitalization in the U.S. equity market after excluding stocks in the S&P 500 Index.
- Benchmark Index: S&P 400 Mid Cap Index
Small Cap Equity - refers to stocks in the bottom 20% of capitalization in the U.S. equity market after excluding stocks in the S&P 500 Index.
- Benchmark Index: Russell 2000 Index
International Bonds - fixed income securities issued outside the U.S. and Canada.
- Benchmark Index: Morgan Stanley Global Bond Index
International Equity - refers to measurement of approximately 900 securities listed on the stock exchanges of Europe, Australia, and the Far East.
- Benchmark Index: Morgan Stanley EAFE Index