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Total Equity
Market Index 
Equity
Portfolio
Fixed Income
Portfolio
Balanced
Portfolio
Money Market
Portfolio
Total Equity Market Index Portfolio
This portfolio invests exclusively in the T. Rowe Price Total Equity Market Index Fund. The Total Equity Market Index Fund is a passively managed fund that seeks to closely track its benchmark, the S&P Total Market Index. The fund is passively managed so it generally does not reallocate its holdings based on changes in market conditions or outlook. As a result, its expenses are typically lower than the expenses of an actively managed fund. The fund seeks to match the performance of the entire U.S. stock market as represented by the S&P Total Market Index but does not attempt to fully replicate the index by holding each of those stocks. Index investing can provide a convenient and relatively low-cost way to approximate the performance of a particular market, but it may not offer the flexibility to shift assets toward stocks or sectors that are rising or away from stocks or sectors that are declining.
| Total Equity Market Index | 100% |
Equity Portfolio
Emphasizing long-term capital appreciation, this all equity portfolio invests in a broad range of funds focused on domestic equity markets with some exposure to international equity markets. It is designed for Account Holders who want a broadly diversified portfolio of primarily actively managed mutual funds that does not become more conservative over time. Because this portfolio invests in many underlying funds, it will have partial exposure to the risks of different areas of the market. This strategy is based on the understanding that the volatility associated with equity markets can be accompanied by the greatest potential for long-term capital appreciation.
| Equity Index 500 | 30.70% |
| Blue Chip Growth | 10.24% |
| Value | 10.24% |
| International Growth & Income | 8.08% |
| International Stock | 8.08% |
| Overseas Stock | 8.08% |
| Small-Cap Stock | 7.32% |
| Real Assets | 5.00% |
| Emerging Markets Stock | 4.28% |
| Mid-Cap Growth | 3.99% |
| Mid-Cap Value | 3.99% |
Fixed Income Portfolio
This portfolio’s primary objective is to seek a high level of current income with moderate price fluctuations by investing exclusively in the T. Rowe Price Spectrum Income Fund, which invests in a diversified group of up to 15 T. Rowe Price mutual funds. Ten of these funds invest principally in U.S. fixed income securities; three in foreign bonds; one in money market securities; and one in common stocks of established, dividend-paying companies. The portfolio is subject to interest rate risk, credit risk, asset allocation risk, liquidity risk, international investing risk, emerging markets risk, and dividend-paying stock risk. The strategy is based on a lower-risk investment approach that seeks to conserve principal and generate a reasonable level of return while minimizing the risks associated with equity markets.
| Spectrum Income | 100% |
Balanced Portfolio
This moderately aggressive portfolio focuses on a mix of approximately 60% of its holdings invested in equity markets, including some exposure to international stocks, while seeking diversification through approximately 40% of its holdings allocated to fixed income. This strategy is based on accepting the risks associated with stocks, which have the potential to provide high returns, and seeking to balance the effects of volatility through diversification in fixed income securities.
| Spectrum Income | 40.00% |
| Equity Index 500 | 18.43% |
| Blue Chip Growth | 6.14% |
| Value | 6.14% |
| International Growth & Income | 4.85% |
| International Stock | 4.85% |
| Overseas Stock | 4.85% |
| Small-Cap Stock | 4.39% |
| Real Assets | 3.00% |
| Emerging Markets Stock | 2.57% |
| Mid-Cap Growth | 2.39% |
| Mid-Cap Value | 2.39% |
Money Market Portfolio
This portfolio invests exclusively in the T. Rowe Price Cash Reserves Fund and seeks to preserve your investment principal while offering modest current income by investing in high-quality, U.S. dollar-denominated money market securities of U.S. and foreign issuers. Neither an investment in this portfolio nor in the Cash Reserves Fund is insured or guaranteed by the FDIC or any other government agency, and although the portfolio and the fund seek to preserve the value of your investment by maintaining a NAV of $1.00 per unit or share, it is possible to lose money by investing in the portfolio. The mutual fund’s sponsor has no legal obligation to provide financial support to the mutual fund, and you should not expect that the sponsor will provide financial support to the mutual fund at any time. This portfolio is designed for Account Holders who are conservative investors or who have a Beneficiary nearing college enrollment.
| Cash Reserves Fund | 100% |
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