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Last Updated:
08/19/2011
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Home >> Investment Options >> Money Market Account |
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Money Market Account |
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This Account seeks to maintain the value of a participant's original investment and earns interest
that is competitive with rates available in short-term money markets. The Account owns a range of high-quality, short-term
securities. The average maturity of the Account is
generally 90 days or less. Since the sole source of return for the Account is the interest income
on the securities that it holds, returns will closely track the rise and fall of short-term interest
rates. Currently, the Account is managed by State Street Global Advisors, an affiliate of State Street
Bank and Trust, the organization that manages the cash reserves of retirement assets under the control
of the State Board of Investment. Shares of the Account are neither insured nor guaranteed by
the U.S. Government. There is no assurance that the portfolio will be able to maintain a stable net asset value of $1.00 per share.
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