This Committee shall evaluate the performance of the investments against the targeted benchmarks on a quarterly basis. This Committee shall also have responsibility for appointing all other parties associated with the Plan, that is, the Trustee, the Investment Consultant and the Administrator, and for choosing the investments that will be made available to the Plan's participants. Such appointments and investment selections shall be decided by a two-thirds majority of the Investment Committee. The overall investment goal is to equal or exceed the target benchmark selected for each Portfolio over a market cycle of three to five years. The underlying assets are high-quality guaranteed insurance contracts with staggered maturities to enable the trust fund to maintain monthly liquidity.
Yield changes monthly.
The benchmark against which this Portfolio shall be evaluated is the 1 Year T-Bill Rate. The Portfolio will seek to recognize the opportunity early and take action decisively. Changes among asset categories are accomplished in gradual, but deliberate, moves. Investments will be made in companies that, over the next several years, will have potential earnings which currently appear undervalued relative to the potential earnings growth. The investment process is highly country and company specific.