Archive for September, 2005

2005 September

Wednesday, September 28th, 2005
Fixed  Income Large
Cap Value
Large
Cap Growth
Foreign Small
Company
Portfolio
             
Morningstar
Averages for the Universe
n/a 3.68% 3.93% 12.46% 5.80% n/a
             
Stable
Value Option
4.02%          
Wellington
Core
2.09%          
PRIMCO
GIC
3.83%          
Cash 2.10%          
BGI
– Money Market Index
2.23%          
             
Benchmark            
LB
1-3 yr. Govt./Treas.
1.03%          
             
Equity
Index Option (BGI – US Equity Index)
    4.06%      
             
Benchmark            
Russell
3000
    4.00%      
             
Value
Stock Option
  3.48%        
Clipper   -1.43%        
Morgan
Value (separately managed)
  1.96%        
Neuberger
Berman Focus Tr
  -0.97%        
Legg
Mason Spec. Invmt. Trust
  5.05%        
Neuberger
Berman Regency
  10.91%        
T.
Rowe Price Value
  2.79%        
BGI
– Value Index
  5.70%        
             
Benchmark            
Russell
Price Driven (1000 Value)
  5.72%        
             
Growth
Stock Option
    4.55%      
Turner
Mid Cap Growth
    8.02%      
TCW
Galileo Select Equities I
    -1.48%      
Marsico
Focus
    5.06%      
Wellington
Mid Cap Opportunities
    8.44%      
BGI
– Growth Index
    2.24%      
             
Benchmark            
Russell
Earnings Growth (1000 Growth)
    2.22%      
             
International
Stock Option
      12.29%    
Amer
Cent-20th Cent. Int’l Discovery
      19.64%    
Amer
Cent-20th Cent. Int’l Growth
      7.28%    
Templeton
Instl. Foreign
      9.48%    
First
Eagle Overseas I
      12.65%    
Oppenheimer Intl Sm Co A       25.84%    
Thornburg Intl Value R5       12.74%    
Marsico Intl Opp       8.24%    
Dimensional Emerging Markets Value       22.28%    
Longleaf
Partners Intl.
      9.65%    
BGI
Eafe Index
      9.26%    
             
Benchmark            
MSCI
EAFE Net Divs
      9.08%    
             
Diversified
Small Company Stock Option
        3.90%  
Royce
Opportunity
        2.63%  
Dimensional
U.S. Micro Cap Portfolio
        3.84%  
Janus
Small Cap Value Instl.
        7.57%  
Third Avenue Sm Cap Instl.         9.61%  
Century Sm Cap Select Instl.         4.38%  
BGI
– Small Company Index
        3.52%  
             
Benchmark            
Russell
2000 Total
        3.38%  
             
Conservative
Model Portfolio
          3.92%
             
Benchmark            
Conservative
Composite Index
          2.56%
             
Moderate
Model Portfolio
          4.87%
             
Benchmark            
Moderate
Composite Index
          3.40%
             
Aggressive
Model Portfolio
          5.24%
             
Benchmark            
Aggressive
Composite Index
          4.04%

September 2005

Wednesday, September 21st, 2005
Day Stable Value Value Stock Equity Index Growth Stock Intl. Stock Div. Small Co. Stock Conserv. Portfolio Moderate Portfolio Aggressive Portfolio Retirement Portfolio
01 204.11 389.69 336.94 286.25 286.77 416.65 257.01 301.70 315.84
02 204.23 388.48 335.79 285.13 288.09 414.55 256.75 301.27 315.31
05 Market Closed – Holiday
06 204.26 392.13 340.21 288.67 289.97 419.24 257.97 303.46 317.98
07 204.29 392.83 341.17 290.09 289.91 420.51 258.24 304.00 318.61
08 204.32 391.11 339.82 288.72 289.07 418.98 257.81 303.19 317.62
09 204.40 394.39 342.32 291.08 291.53 421.77 258.72 304.85 319.64
12 204.43 394.52 342.32 291.43 290.90 422.93 258.76 304.95 319.78
13 204.46 391.98 339.82 289.54 289.68 419.90 258.04 303.64 318.16
14 204.49 391.50 338.48 287.56 290.89 416.86 257.78 303.02 317.37
15 204.52 391.40 338.67 287.48 291.03 415.91 257.82 302.98 317.27
16 204.60 394.33 341.17 288.87 292.68 418.90 258.67 304.35 318.96
19 204.64 392.57 339.25 286.98 292.29 416.58 258.16 303.37 317.77
20 204.67 390.05 336.56 284.77 293.31 413.46 257.41 302.24 316.46
21 204.70 385.17 333.30 282.33 293.54 408.38 256.24 300.47 314.31
22 204.73 386.24 334.45 284.36 291.49 408.41 256.59 300.88 314.58
23 204.82 386.43 334.83 285.51 290.23 410.67 256.74 301.21 314.97
26 204.84 387.39 335.41 285.90 293.37 413.31 256.99 302.03 316.20
27 204.87 386.75 335.22 285.54 291.78 413.23 256.89 301.68 315.74
28 204.90 387.00 335.41 285.56 294.35 412.02 256.98 301.97 316.09
29 204.93 390.37 338.67 288.76 296.30 416.35 257.98 303.90 318.47
30 204.96 391.27 339.44 290.72 296.47 417.98 258.25 304.59 319.29
September Fund Performance (in percentages)
0.43% 0.63% 0.86% 1.75% 4.95% 0.59% 0.56% 1.24% 1.47%

Diversified Small Company Stock Option Changes

Thursday, September 1st, 2005

The Directed Account Plan Board of Directors replaced Franklin Small Cap Growth II with the Century Small Cap Select Institutional Fund in the Diversified Small Co. Stock Option. The termination of Franklin Small Cap Growth II was due to poor performance relative to its benchmark. There was also concerns resulting from recent organizational changes within the fund family. The replacement fund, Century Small Cap Select Institutional, has a strong track record and management team that the Board believes will enhance this option’s return performance. A rebalancing of the option has resulted in the following target allocation, effective 07/20/05:

Allocation
Diversified Small Co. Stock Option Managers Before Current
Royce Opportunity (rypnx) 15% 15%
Dimensional US Micro Cap Portfolio (dfscx) 15% 15%
Franklin Small Cap Growth II 10% 0%
Janus Small Cap Value Instl 20% 15%
Third Avenue Small Cap Value (tascx) 15% 15%
NEW: Century Small Cap Select Instl. (csmcx) 15% 15%
BGI Small Company Index 25% 25%

Call Benefits Express 1-877-489-2327 for a fact sheet/prospectus on any of the above funds.