Helping Idaho Public Employees Build A Secure Retirement

Choice 401(k) Plan Options

The Choice 401(k) Plan offers a variety of investment options, including U.S. equity, international equity, and fixed income funds. The PERSI Total Return Fund (TRF) is the default option for the Choice 401(k) Plan. You may invest in as many different fund options as you choose. At any time, you have the ability to distribute all or a portion of your assets from the TRF into other fund options, and to transfer between fund options, subject to any trading restrictions. These actions can be performed online or by calling 1–866–437–3774.

For more information on the performance of these investment options, see the Investment Performance Summary.

Policies & Restrictions

Choice 401(k) Plan Investments

Balanced
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  • PERSI Total Return Fund
    • View Total Return Fund Summary
    • Total Return Fund Full Disclosure
    • Annual Financial Report
    • Asset Class: Balanced Fund
    • Benchmark: Policy Benchmark (55% Russell 3000 / 15% MSCI EAFE / 30% Barclays Aggregate)
    • Type of Fund: Separate Account
    • Description: The default fund option for the Choice 401(k) Plan, the assets for this fund are invested in parallel with PERSI´s defined benefit (DB) Base Plan. It is a diversified fund that is generally invested 50–65% in U.S. equities, 10–20% in international equities, and 23–33% in fixed income securities. Fund investments include primarily publicly–traded stocks and bonds with some private holdings in real estate, private equity, and commercial mortgages.
  • Calvert Balanced Fund
    • Asset Class: Balanced Fund (applying socially responsible criteria)
    • Benchmark: Custom (60% Russell 1000 / 40% Barclays Aggregate)
    • Type of Fund: Mutual Fund (CBAIX)
    • Fund Manager: Calvert Institutional Group
    • Description: This fund is meant to achieve a competitive total return through an actively-managed portfolio of stocks, bonds, and money market investments that offer income and capital growth opportunities.

Capital Preservation
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  • PERSI Short-Term Investment Portfolio (STIP)
    • Asset Class: Fixed Income
    • Benchmark: Bank Of America Merrill Lynch (BML) 91-day Treasury Bills
    • Type of Fund: Separate Account
    • Fund Manager: Clearwater Advisors, LLP
    • Description: This portfolio is meant to provide returns consistent with prevailing short–term U.S. interest rates while focusing on capital preservation and liquidity. Both the yield and principal value of this portfolio may fluctuate.

Bond
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  • U.S. Bond Market Index Fund
    • Asset Class: Fixed Income
    • Benchmark: Barclays U.S. Aggregate Bond Index
    • Type of Fund: Collective Fund
    • Fund Manager: Mellon Capital Management
    • Description: This is an investment–grade U.S. bond index fund. It is designed to track the performance of the Barclays U.S. Aggregate Index.
  • U.S. Treasury Inflation-Protected Securities (TIPS) Index Fund
    • Asset Class: Fixed Income
    • Benchmark: Barclays U.S. Treasury Inflation-Protected Securities (TIPS) Index
    • Type of Fund: Collective Fund
    • Fund Manager: Mellon Capital Management
    • Description: This fund is designed to track the performance of the Barclays U.S. Treasury Inflation-Protected Securities (TIPS) Index.
  • Dodge & Cox Fixed Income Fund
    • Asset Class: Fixed Income
    • Benchmark: Barclays U.S. Aggregate Bond Index
    • Type of Fund: Fund (DODIX)
    • Fund Manager: Dodge & Cox
    • Description: This fund is meant to seek a high and stable rate of current income consistent with long–term preservation of capital. Fund assets are invested in a diversified portfolio of high–quality bonds and other debt securities.

U.S. Equity Options
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  • U.S. Broad Market Equity Index Fund
    • Asset Class: U.S. Equity
    • Benchmark: Russell 3000 Index
    • Type of Fund: Collective Fund
    • Fund Manager: Mellon Capital Management
    • Description: This fund is meant to track the performance of the Russell 3000 Index. Fund assets are principally invested in other affiliated bank collective funds and equity securities, including common stock of U.S. companies.
    Large Cap
    • U.S. Large Cap Equity Index Fund
      • Asset Class: U.S. Equity – Large Cap
      • Benchmark: S&P 500 Index
      • Type of Fund: Collective Fund
      • Fund Manager: Mellon Capital Management
      • Description: This is a passive index fund designed to track the performance of the Standard & Poor´s 500 Index. This fund features full replication, which holds each company in proportion to its market capitalization weight in the Index.
    • Vanguard Growth & Income Fund
      • Asset Class: U.S. Equity – Large Cap
      • Benchmark: S&P 500 Index
      • Type of Fund: Mutual Fund (VGIAX)
      • Fund Manager: The Vanguard Group
      • Description: This fund is meant to provide a total return (capital appreciation plus dividend income) greater than the Standard & Poor´s 500 Index.
    Small/Mid Cap
    • U.S. Small/Mid Cap Equity Index Fund
      • Asset Class: U.S. Equity – Small and Mid Cap
      • Benchmark: Dow Jones U.S. Completion Total Stock Market Index
      • Type of Fund: Collective Fund
      • Fund Manager: Mellon Capital Management
      • Description: This passive index fund is designed to track the performance of a small/mid-capitalization U.S. equity index.
    Small Cap
    • T. Rowe Price Small Cap Stock Fund
      • Asset Class: U.S. Equity – Small Cap
      • Benchmark: Russell 2000 Index
      • Type of Fund: Mutual Fund (OTCFX)
      • Fund Manager: T. Rowe Price
      • Description: This fund is designed to seek long–term growth of capital by investing primarily in the common stocks of small companies. This technique tempers the generally higher risk of small company securities through investments in both growth– and value–oriented stocks.

International Equity
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  • International Equity Index Fund
    • Asset Class: International Equity
    • Benchmark: MSCI EAFE Index
    • Type of Fund: Collective Fund
    • Fund Manager: Mellon Capital Management
    • Description: This is a passive index fund designed to track the performance of the MSCI EAFE Index while providing cost–effective, broadly diversified, non–U.S. exposure. EAFE is an acronym for the "Europe, Australasia, and Far East" Equity Index.
  • Emerging Markets Equity Index Fund
    • Asset Class: International Equity – Emerging Markets
    • Benchmark: MSCI EMF Index
    • Type of Fund: Mutual Fund
    • Fund Manager: Mellon Capital Management
    • Description: This is a passive index fund designed to track the performance of the MSCI EMF Index.
  • Brandes International Equity Fund
    • Asset Class: International Equity
    • Benchmark: MSCI EAFE Index
    • Type of Fund: Mutual Fund (BIIEX)
    • Fund Manager: Brandes Investment Partners
    • Description: This fund is designed to seek long–term capital appreciation. Investments from this fund principally go to equity securities of foreign countries.

Specialty
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  • U.S. REIT Index Fund
    • Asset Class: U.S. Equity – Real Estate Investment Trust Securities
    • Benchmark: Dow Jones U.S. Select REIT Index
    • Type of Fund: Collective Fund
    • Fund Manager: Mellon Capital Management
    • Description: This is a passive index fund designed to track the performance of the Dow Jones U.S. Select REIT Index.