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Investment Policy
Asset Allocation Guidelines
SECTION I: GENERAL ASSET ALLOCATION
GUIDELINES
The asset allocation which follows is stated within minimum and maximum ranges. Additionally, specific targets based on market value are noted for each asset category.
The Committee wishes to utilize a flexible asset allocation approach for each Portfolio. The following broad asset allocation guidelines shall generally apply. However, the Committee reserves the right to modify these guidelines in the future, as appropriate, for the Portfolio.
| Asset Class | Target | Minimum | Maximum |
| Equities | 70.0% | 65.0% | 75.0% |
| Fixed Income | 30.0% | 25.0% | 35.0% |
SECTION II: ASSET CLASS/STYLE DIVERSIFICATION
SECTION III: REBALANCING THE PORTFOLIOS
SECTION IV: RESTRICTIONS
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