The following manager changes took place in September 2008. In the Stable Value Option, the Dreyfus Govt. Money Market Fund was replaced with the Dreyfus Cash Management Fund. The Value Stock Option was rebalanced to decrease the target allocation of JP Morgan Large Cap Value from 20 percent to 15 percent. As a result, T. Rowe Price Value was increased from a 15 percent to 20 percent allocation. A new fund, Brown Capital Mgmt. Small Co. Instl. was added to the Diversified Small Co. Stock Option. This new fund was given a 10 percent allocation in the option while iShares Morningstar Small Cap Growth Index was reduced from a 15 percent to 5 percent allocation. These recent manager changes are shown in the tables below:
| Allocation | ||
| Stable Value Option Managers | Before | Current |
| CD’s | 5% | 5% |
| Dreyfus Cash Management Fund | 0% | 10% |
| Dreyfus Govt. Money Market | 10% | 0% |
| Invesco Interest Income | 45% | 45% |
| Wellington Core Bonds – separately managed | 40% | 40% |
| Allocation | ||
| Value Stock Option Managers | Before | Current |
| JP Morgan Large cap Value – Commingled Fund | 20% | 15% |
| Neuberger Berman Partenres (nbptx) | 20% | 20% |
| CGM Focus (cgmfx) | 10% | 10% |
| Goldman Sachs Mid Cap Value Instl. (gsmcx) | 15% | 15% |
| T. Rowe Price Value (pavlx) | 15% | 20% |
| BGI Value Index – separately managed | 20% | 20% |
| Allocation | ||
| Diversified Small Co. Stock Option Managers | Before | Current |
| Royce Opportunity (rypnx) | 15% | 15% |
| Dimensional US Micro Cap Portfolio (dfscx) | 15% | 15% |
| Third Avenue Small Cap Value (tascx) | 15% | 15% |
| Brown Capital Mgmt. Small Co. Instl. | 0% | 10% |
| Morgan Stanley US Small Cap Value Instl. (mpscx) | 10% | 10% |
| iShares Morningstar Small Growth Index (jkk) | 15% | 5% |
| BGI Small Company Index – separately managed | 30% | 30% |