A diverse selection of investment options is important to help ensure every participant has suitable choices to help meet his or her retirement goals. The Program has options for a variety of investors. The Program’s platform of investments is designed into three investment paths purposely built for all participants of the Program.

Path 1: Make it easer for me

Participants can make a selection based on their age or risk tolerance

Retirement Date Funds1

  • 2060 Retirement Date Fund
  • 2055 Retirement Date Fund
  • 2050 Retirement Date Fund
  • 2045 Retirement Date Fund
  • 2040 Retirement Date Fund
  • 2035 Retirement Date Fund
  • 2030 Retirement Date Fund
  • 2025 Retirement Date Fund
  • Post Retirement Date Fund

Target Risk Funds

  • Conservative Risk Fund
  • Moderate Risk Fund
  • Aggressive Risk Fund

Path 2: I'm Saving for Retirement

Investment advice and guidance2 is available to help participants make selections

U.S Equity Funds

  • Large Cap Index Equity Fund
  • Small-Mid Cap Equity Fund
  • Small-Mid Cap Index Equity Fund
  • All Cap Index Equity Fund

Non-U.S. Equity Funds

  • International All Cap Equity Fund3
  • International Index Equity Fund3

Fixed-Income Funds

  • Bond Core Plus Fund
  • Bond Index Fund
  • Stable Asset Return Fund

Non-Traditional Diversifying Funds

  • Real Asset Return Fund
  • Alternative Alpha Fund3

Path 3: I'm Retired or Almost There

An investment experience that supports individuals approaching or in retirement

Retiree Funds

  • Capital Preservation Fund
  • Income Focused Fund
  • Inflation Protection Fund
  • Diversified Growth Fund

 

 

Optional brokerage services through the Schwab Personal Choice Retirement Account® (“PCRA”). See below for more information.4

 

For additional details, including investment objectives, fees and expenses of the fund, portfolio turnover, principal investment strategies, primary risks, and total and average annual returns, please read the Program Annual Disclosure Document (April 2025). This Disclosure Document contains important information about the Program and investment options.

Schwab Personal Choice Retirement Account® (“PCRA”)

Participants may directly invest their retirement plan assets in publicly traded securities and mutual funds through the Schwab Personal Choice Retirement Account® (“PCRA”) service feature of the Program. With the PCRA, participants can create investment portfolios that uniquely reflect their own retirement planning needs and objectives. This option allows participants to select from various investment possibilities and execute trades through the discount brokerage services of Schwab.


Schwab, a leader in the brokerage industry, offers Program participants:

  • $0 commission for online trades of exchange-listed U.S. stock trades;5 (Please see the Commission and Service Fee schedule in the Fees section.)
  • Received the 2024 Best Online Brokers Recognition by Investor's Business Daily, for 12th year in a row6
  • Independent, objective third party research and charts from well-known industry analysts7
     

A Wide Array of Investments

The PCRA provides participants with greater investment flexibility and the opportunity to take advantage of changing markets. The PCRA offers:

  • Over 8,700 domestic and international mutual funds, including equity and fixed income funds•
  • More than 3,800 funds with no load and no transaction fee8
  • Individual fixed income securities, including U.S. government securities of varying maturities, mortgage-backed securities and corporate bonds
  • Individual equity securities traded on major U.S. exchanges, including the New York and American Stock Exchanges, the NASDAQ National Market, and regional exchanges
  • Access to over 3,000 commission-free Exchange-Traded Funds9, 10

 

1 Generally speaking, Retirement Date Funds target a certain date range for retirement, or the date the investor plans to start withdrawing money. Investors can select the fund that corresponds to their retirement date. They are designed to rebalance to a more conservative approach as the date nears. An investment in a Retirement Date Fund is not guaranteed at any time, including on or after the retirement date.

2 Advisory Services provided by Voya Retirement Advisors, LLC (“VRA”). VRA is a member of the Voya Financial (“Voya”) family of companies. For more information, please read the Voya Retirement Advisors Disclosure Statement, Advisory Services Agreement and the Program’s Fact Sheet. These documents may be viewed online by accessing the advisory services link(s)
through the Program’s website at abaretirement.com after logging in. You may also request these from a VRA Investment Advisor Representative by calling the Program’s information line
at 800.348.2272. Financial Engines Advisors L.L.C. (“FEA”) acts as a sub advisor for VRA. FEA is a federally registered investment advisor. Neither VRA nor FEA provides tax or legal advice. If
you need tax advice, consult your accountant, or if you need legal advice, consult your lawyer. Future results are not guaranteed by VRA, FEA or any other party, and past performance is no
guarantee of future results. Edelman Financial Engines® is a registered trademark of Edelman Financial Engines, LLC. All other marks are the exclusive property of their respective owners.
FEA and Edelman Financial Engines, L.L.C. are not members of the Voya family of companies. ©2025 Edelman Financial Engines, LLC. Used with permission. 

3 Funds include trading restrictions. Consult the Annual Disclosure Document (April 2025) for details.  

4 Optional brokerage services, which may incur fees. Schwab Personal Choice Retirement Account ("PCRA") is offered through Charles Schwab & Co., Inc. (Member SIPC), the registered
broker/dealer, which also provides other brokerage and custody services to its customers.

5 Trades executed in multiple lots on the same day are charged a single commission. Trades partially executed over multiple trading days are subject to commission charges for each trading day.

6 Credit Notice: From Investor's Business Daily, January 25, 2024, ©2024 Investor’s Business Daily, Inc. All rights reserved. Used by permission and protected by the Copyright Laws of the United States. The printing, copying, redistribution or retransmission of this Content without express written permission is prohibited. Best Online Brokers List

7 Third-party research and tools are obtained from companies not affiliated with Schwab, and are provided for informational purposes only. While the information is believed to be reliable, Schwab does not guarantee its accuracy, completeness, or suitability for any purpose, and makes no warranties with respect to the results to be obtained from its use. Please consult other sources of information and consider your individual financial position and goals before making an independent investment decision. Past performance does not guarantee future results.

8 The Fund Family will charge fees as detailed in the fund prospectuses. NTF mutual funds are no-load mutual funds for which Schwab does not charge a transaction fee. Schwab receives remuneration from mutual fund companies, including those participating in its no-load, NTF program for recordkeeping, shareholder services, and other administrative and distribution services. The amount of Schwab’s remuneration for these services is based in part on the amount of investments in such funds by our clients. NTF mutual funds and other funds offered through Schwab have other fees and expenses that apply to a continued investment in the fund and are described in the prospectus. PCRA Fact Sheet

9 ETFs are subject to risk similar to those of their underlying securities, including, but not limited to, market, investment, sector, or industry risks, and those regarding short-selling and margin account maintenance. Some ETFs may involve international risk, currency risk, commodity risk, leverage risk, credit risk, and interest rate risk. Performance may be affected by risks associated with nondiversification, including investments in specific countries or sectors. Additional risks may also include, but are not limited to, investments in foreign securities, especially emerging markets, real estate investment trusts (“REITs”), fixed income, small-capitalization securities, and commodities. Each individual investor should consider these risks carefully before investing in a particular security or strategy. Investment returns will fluctuate and are subject to market volatility, so that an investor’s shares, when redeemed or sold, may be worth more or less than their original cost. Unlike mutual funds, shares of ETFs are not individually redeemable directly with the ETF. Shares are bought and sold at market price, which may be higher or lower than the net asset value (“NAV”). Information provided by Schwab is for general educational and informational purposes only and should not be considered a recommendation or investment advice. Schwab receives remuneration from certain ETFs for shareholder, administrative and/or other services. Invest in ETFs

10 Trade must be placed online to be commission free.


The risk factors that pertain to investment in the Funds are described in detail in the description of each Fund included in the Annual Disclosure Document (April 2025) which is available to you.


These risk factors may include, but are not limited to, risks of investing in equity securities, risks of investing in equity securities of non-U.S. companies and smaller companies, interest
rate risk applicable to investment in fixed-income securities, credit risk applicable to investment in fixed-income securities, including those of lower credit quality, risks of investing in REITs,
risk of reliance on industry research, risks of investing in U.S. Government obligations, risks related to securities lending, risk of TBA commitments, risk of “when-issued” securities, risks
related to market disruptions and governmental interventions, risks associated with structure of the collective trust, and risks associated with commodity investments and derivatives.

The Collective Trust and the Funds are not regulated investment companies or subject to SEC disclosure requirements. The Collective Trust and the Funds are not registered as investment
companies under the Investment Company Act of 1940 and, therefore, are not subject to compliance with the requirements of that Act.

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