[(. 0.19736 0 Td [( )30]TJ [<1B>]TJ [(F)44]TJ [<17>39]TJ 0.4793 0 Td 10 This 40-year old fund has averaged 9.7% since its inception in 1970. 0.50097 0 Td 0.31821 0 Td [<1A>24]TJ 0.2842 0 Td [<1B>46]TJ -46.2092 18.7141 TD 0.35336 0 Td [(? 0.5123 0 Td 0.19736 0 Td 0.28417 0 Td [<1F>29]TJ [(. [(7)21]TJ 0.5045 0 Td 0.28491 0 Td 0.50131 0 Td 0.3995 0 Td 0.50131 0 Td 0.4813 0 Td 0.31821 0 Td [(-)24]TJ 417.134 466.842 m 0.30776 0 Td 0.4793 0 Td 0.4715 0 Td [(\()24]TJ WebThe fund seeks to preserve your principal investment while earning a level of interest income that is consistent with principal preservation. 0.19736 0 Td 0.38671 0 Td aA Crmta]B1X7^tw|v{cNsSiwrZnvp|f+ AG'NV\vrtF(e7"2ah_`gg``g"`2ah_`gg``g8vy,x!5'O+;7HF(3"OWmF(] =='U3`lggdeGTgvrsn.n.+ G'NV^vrrd8Oty:uCZ`94a^F[S+97/(F^+I8{ yX W 5&&555 BkHIIlMO"!&yL_p!,'"5 0.4852 0 Td 0 Tc [<1B>]TJ 0.4264 0 Td f 0.5015 0 Td 0.30776 0 Td 0.31845 0 Td 0.4852 0 Td [(E)-4]TJ [(1)42]TJ 0.47641 0 Td [(+)24]TJ [(&)24]TJ 0.5569 0 Td 0.2842 0 Td 0.1974 0 Td [(*)5]TJ 0.1974 0 Td 0.52295 0 Td [<05>92]TJ 0.54004 0 Td [<01>8]TJ [(\))33]TJ [(F)44]TJ 0.7943 0 Td 0.48815 0 Td 0.3226 0 Td [<1B>30]TJ [( )24]TJ [(1)24]TJ [(9)]TJ )29]TJ )24]TJ 0.79428 0 Td [(F)6]TJ [(+)30]TJ 0.5103 0 Td [(F)24]TJ [(,)280]TJ [<15>34]TJ 0.2783 0 Td 0.51622 0 Td 0.31845 0 Td 0.4993 0 Td [(. [( )30]TJ )24]TJ 0.55741 0 Td [<17>24]TJ [(. 0.4305 0 Td 0.2842 0 Td [<02>21]TJ [<17>24]TJ 0.63794 0 Td 0.4034 0 Td 0.51328 0 Td [(O)]TJ 0.2842 0 Td 0.2842 0 Td 0.48815 0 Td [(\))24]TJ [<1D>24]TJ 0.51523 0 Td 0.4185 0 Td 0.1915 0 Td 0.19736 0 Td 0.5123 0 Td 0.4803 0 Td [(&)24]TJ 0.58395 0 Td [<15>24]TJ [(. 0.4862 0 Td [(J)51]TJ )49]TJ 0.2842 0 Td 0.36312 0 Td [(E)-4]TJ [<17>39]TJ [<07>24]TJ 0.35141 0 Td [( )24]TJ [(1)30]TJ 0.19736 0 Td 0.40341 0 Td 0.62792 0 Td 0.28036 0 Td [<1B>]TJ 0.31845 0 Td [(\()24]TJ [(F)342]TJ [(F)39]TJ [(2)590]TJ [(E)-4]TJ 0.5388 0 Td [<1E>24]TJ [( )24]TJ [<1F>51]TJ 0.50521 0 Td [<17>24]TJ [(? 0.1974 0 Td 0.2842 0 Td 0.50936 0 Td 0.31821 0 Td [(F)24]TJ 0.5152 0 Td 0.2842 0 Td [(,)-4]TJ [<17>24]TJ 0.48999 0 Td 0.5133 0 Td 0.47641 0 Td 0.4764 0 Td [( )21]TJ [<15>24]TJ 0.29842 0 Td 0.48129 0 Td [(%)24]TJ 0.30746 0 Td [(? [(*)39]TJ [(&)21]TJ [(1)29]TJ [(. 0.46997 0 Td 7.415 0 Td [(. 0.50936 0 Td [<1E>20]TJ 0.21505 0 Td 0.4935 0 Td Invesco Client Account Access is a mobile-friendly site that provides financial professionals with a single view into retirement and non-retirement accounts. [( )24]TJ [(\()24]TJ [(&)24]TJ [(*)49]TJ [<0E>24]TJ [(0)590]TJ [(\()24]TJ [( )30]TJ [(E)-7]TJ 0.51522 0 Td [<1E>24]TJ 0.5152 0 Td [<17>39]TJ [(-)39]TJ 0.2842 0 Td [(")52]TJ 0.28418 0 Td 0.4803 0 Td 0.5052 0 Td )24]TJ 0.28417 0 Td 0.50131 0 Td 0.86 0.08 0 0 k [(I)24]TJ [<1D>24]TJ [<1A>24]TJ 0.65796 0 Td 0.68384 0 Td [(%)24]TJ [<07>]TJ [<05>92]TJ )6]TJ f* -19.43534 -1 TD [(1)24]TJ [(,)-4]TJ [(F)44]TJ 0.48228 0 Td 0.5064 0 Td [(? [(? [(+)24]TJ 0.5093 0 Td 0.4324 0 Td [(E)-4]TJ [(M)54]TJ 0.50879 0 Td 0.3975 0 Td [(? 0.19736 0 Td 0.35631 0 Td )]TJ 0.4132 0 Td [(+)24]TJ 0.30188 0 Td 0.25195 0 Td [(+)]TJ [( )29]TJ /F1 1 Tf 0.50521 0 Td 0.35336 0 Td [(I)24]TJ 0.2783 0 Td )35]TJ )24]TJ [(\()21]TJ 0.79428 0 Td [<17>30]TJ ET [(1)44]TJ [(\()24]TJ [( )30]TJ [(? 0.28417 0 Td [(. 0.64205 0 Td 0.41318 0 Td 0.51818 0 Td [(@)29]TJ [( )24]TJ 0.5064 0 Td [(F)24]TJ [(")39]TJ )30]TJ [(3)8]TJ [(3)24]TJ [<14>24]TJ 0.28418 0 Td [(%)30]TJ 0.5052 0 Td 0.28417 0 Td [<17>]TJ [(? 0.27135 0 Td Ms. Graef began her testimony by describing Vanguards disclosures for stable value funds. [(\()30]TJ 0.3023 0 Td 0.2842 0 Td Invesco is in a select group of managers with extensive stable value expertise and significant fixed income resources and scale. [(I)]TJ 0.35631 0 Td [(-)39]TJ [(E)-4]TJ 0.31821 0 Td )59]TJ 0.62436 0 Td [(%)24]TJ [(. [(@)34]TJ 0.50521 0 Td )6]TJ )21]TJ [( )24]TJ [(@)24]TJ [( )21]TJ [(E)-4]TJ [(? 0.53902 0 Td 0.47641 0 Td 0.1974 0 Td 0.2783 0 Td 0.2562 0 Td [(9)21]TJ [(7)24]TJ 0.31821 0 Td 0.4852 0 Td [<0E>24]TJ )21]TJ 0.5064 0 Td /GS0 gs )49]TJ [( )32]TJ [(,)-4]TJ 0.43735 0 Td [(E)-4]TJ 0.5979 0 Td 0.28417 0 Td [<10>8]TJ [(\()48]TJ [<0E>]TJ 0.44736 0 Td [(@)16]TJ [(F)24]TJ [( )24]TJ )29]TJ )24]TJ [(&)24]TJ [(F)342]TJ [(E)-4]TJ 0.35141 0 Td [<17>24]TJ [<19>]TJ [<1B>]TJ [(&)24]TJ 0.1915 0 Td 0.5152 0 Td [(E)-4]TJ 0.28418 0 Td 5.45974 0 Td 0.30234 0 Td WebThe goal of stable value funds in a portfolio is capital preservation. [(? [( )30]TJ 558.7748 752.6492 l 0.1974 0 Td [<1A>44]TJ [(. 0.4784 0 Td 0.4412 0 Td 0.50839 0 Td [(+)30]TJ 0.48228 0 Td 0.2842 0 Td 0.4886 0 Td [(@)39]TJ [(+)590]TJ 0.32846 0 Td [(")28]TJ 0.58984 0 Td )24]TJ 0.28418 0 Td 0.4405 0 Td 0.50781 0 Td [(. [(? 0.2842 0 Td [(? 0.427 0 Td [(,)-4]TJ [(E)-4]TJ [(-)24]TJ [(F)21]TJ [( )24]TJ 0.4034 0 Td [<04>80]TJ [(@)30]TJ [<17>24]TJ [(,)-4]TJ [(@)24]TJ 0.4442 0 Td 0.28418 0 Td Key Metrics of Interest. 293.237 553.7806 283.1634 543.707 270.737 543.707 c [(E)-4]TJ 0.65439 0 Td 0.5133 0 Td [<0E>24]TJ 0.49522 0 Td 0.25195 0 Td [(@)39]TJ [<1E>529]TJ )30]TJ 0.1974 0 Td [(@)24]TJ )59]TJ [(E)2]TJ 0.48618 0 Td 0.4793 0 Td 0.48618 0 Td 0.48618 0 Td [<1B>30]TJ [(\f)675]TJ [<1E>24]TJ 585.1689 744.544 l 0.4442 0 Td [<17>39]TJ [(&)24]TJ [<0E>24]TJ 0.28418 0 Td 0.48129 0 Td [(. -19.42417 -1 TD 0.19736 0 Td [(E)-4]TJ 0.4774 0 Td [(M)30]TJ [<17>24]TJ 0.48129 0 Td [(? [(L)42]TJ 0.4793 0 Td [(J)47]TJ )46]TJ [(. 0.1915 0 Td 0.5093 0 Td [(@)39]TJ 0.53003 0 Td 0.2842 0 Td 0.4803 0 Td 0.28712 0 Td [(? [( )24]TJ [( )24]TJ 0.32846 0 Td 0.3995 0 Td [(E)-4]TJ 0.50936 0 Td [(? [(%)30]TJ [(-)24]TJ [(7)]TJ )24]TJ 0.2783 0 Td [(? 0.79037 0 Td [(-)32]TJ )24]TJ [(\()24]TJ [(K)24]TJ 0.5123 0 Td [<17>30]TJ [<1E>24]TJ [(E)-4]TJ )29]TJ 0.40341 0 Td [(\()24]TJ Vanguard manages over $27 billion in stable value funds for approximately 1400 institutional defined contribution plans. 0.4642 0 Td 0.2783 0 Td 0.4132 0 Td [(%)24]TJ 0.5587 0 Td [(=)41]TJ [<05>98]TJ [( )7]TJ [(E)-4]TJ [(+)24]TJ [(. 0.50522 0 Td 2.78747 0 Td 0.51523 0 Td 0.4715 0 Td [(&)]TJ 0.51623 0 Td The fund is sponsored by Invesco. 0.1915 0 Td 0.4803 0 Td [<15>34]TJ 0.2125 0 Td 0.50521 0 Td 0.24735 0 Td 0.41577 0 Td [(F)24]TJ 0.30139 0 Td 0.4974 0 Td [(I)30]TJ 0.48617 0 Td [(. [(. [(I)24]TJ 0.35302 0 Td [( )24]TJ [(")24]TJ [(1)42]TJ 0.4803 0 Td [(1)30]TJ 0.5052 0 Td [(@)24]TJ -43.94878 0 Td -21.49033 -1 TD 0.5133 0 Td [<07>]TJ [(1)42]TJ 0.3534 0 Td 0.28418 0 Td 0.50293 0 Td 1 0 obj [( )33]TJ [(\()24]TJ 0.19736 0 Td 0.2842 0 Td The Invesco Stable Value Portfolio invests 100% of its assets in the Invesco Stable Value separate account. [( )510]TJ 0.4862 0 Td 0.4405 0 Td [(1)44]TJ 0.19736 0 Td [<16>102]TJ CollegeBound 529 portfolios invest in: exchange-traded funds, mutual funds and separate accounts. 0.50388 0 Td 0.5123 0 Td [<1E>24]TJ 0.24735 0 Td 8 0 0 8 27.2 382.9814 Tm )23]TJ 0.5052 0 Td [(@)30]TJ )24]TJ 0.50936 0 Td 0.4862 0 Td 0.5152 0 Td 0.28418 0 Td [<07>24]TJ 0.1974 0 Td [(L)36]TJ 0.4132 0 Td 0.3934 0 Td 558.2216 718.7732 559.2045 718.6619 559.2045 718.0125 c [(\()]TJ 0.4264 0 Td [(\()24]TJ 0.51035 0 Td 0.50388 0 Td [( )24]TJ /F0 1 Tf 0.4346 0 Td 0.5098 0 Td 0.3182 0 Td 0.28417 0 Td 0.5023 0 Td 0.4852 0 Td 0.5093 0 Td [(E)-4]TJ [(J)41]TJ 0.3182 0 Td 0.20031 0 Td [<17>24]TJ [(6)870]TJ [(1)24]TJ 0.14853 0 Td [(-)24]TJ [(E)-4]TJ [(E)2]TJ 0.50521 0 Td -21.54718 -1.4375 TD 0.4725 0 Td )24]TJ [(. 0.3226 0 Td [( )24]TJ [(E)-4]TJ 0.4364 0 Td [(E)-4]TJ 0.52804 0 Td [(+)24]TJ )49]TJ [(E)-4]TJ 0.51328 0 Td 0.47936 0 Td [<1E>24]TJ [<12>40]TJ )24]TJ [<1F>24]TJ 0.50936 0 Td [<14>24]TJ 0.3165 0 Td 0.1974 0 Td 204.552 214.108 l 0.4205 0 Td [(@)24]TJ 0.3975 0 Td [<1B>29]TJ 0.4852 0 Td [<17>24]TJ [(E)280]TJ 0 0 0 1 k 0.51523 0 Td 0.4862 0 Td [<03>24]TJ [<1B>24]TJ [( )24]TJ -20.35607 -1 TD 0.50976 0 Td 0.50521 0 Td 0.4793 0 Td [(-)24]TJ 0.5123 0 Td [(E)-7]TJ 0.4852 0 Td [<02>17]TJ 0.33139 0 Td 0.5133 0 Td [(M)6]TJ [<19>470]TJ [(8)-28]TJ [(/)24]TJ 0.4852 0 Td 0.20031 0 Td 0.80493 0 Td 0.31821 0 Td [(E)2]TJ 0.4705 0 Td 0.48129 0 Td 0.50879 0 Td [(E)-7]TJ 0.4793 0 Td 0.5123 0 Td [(E)-4]TJ 0.48228 0 Td [(")34]TJ 0.28418 0 Td 0.28418 0 Td [(\))24]TJ [(I)24]TJ 0.2842 0 Td [(F)49]TJ [( )24]TJ 0.20031 0 Td 0.51328 0 Td 0.2783 0 Td 0.4993 0 Td 0.2783 0 Td 0.2842 0 Td 0.5052 0 Td 0.53589 0 Td -21.3041 -1.3366 TD 0.3182 0 Td )5]TJ 520.943 715.117 64.057 50.883 re 0.4132 0 Td 0.48815 0 Td [(,)-4]TJ 0.50521 0 Td [(&)24]TJ 0.79428 0 Td )30]TJ 0.4852 0 Td [(M)21]TJ 0.1974 0 Td [<12>40]TJ [(,)-4]TJ 0.58395 0 Td [(")24]TJ The yield of the fund will fluctuate. 0.48618 0 Td [(:)24]TJ 0.4803 0 Td 0.48912 0 Td 0.36312 0 Td 0.3277 0 Td )377]TJ [<17>24]TJ [( )21]TJ 0.2562 0 Td 0.2842 0 Td [<17>24]TJ 0.1915 0 Td [( )24]TJ 0.50289 0 Td [<1E>24]TJ 0.2562 0 Td 0.30777 0 Td [(")39]TJ )54]TJ [(1)24]TJ 5 0 0 5 313.132 684.8342 Tm <00>Tj [(K)24]TJ 0.4803 0 Td 0.4852 0 Td [(4)49]TJ [( )24]TJ 0.5123 0 Td [(J)41]TJ [(J)41]TJ [(;)]TJ [(\()24]TJ )49]TJ 0.64205 0 Td 0.40341 0 Td [( )]TJ 0.58984 0 Td 0.47412 0 Td )24]TJ 0.5093 0 Td [(E)-4]TJ [(@)]TJ 0.2984 0 Td [(@)34]TJ [<1D>24]TJ [(7)6]TJ 2.85878 0 Td [(,)-4]TJ [(E)-22]TJ [(7)30]TJ [( )24]TJ [( )24]TJ 0.4264 0 Td 0.4993 0 Td [(I)24]TJ [(,)-4]TJ 0.2842 0 Td 0.5133 0 Td 0.50976 0 Td 563.2192 745.9622 l )24]TJ 0.28417 0 Td [(J)41]TJ [( )]TJ 0.64205 0 Td [<17>24]TJ [(*)]TJ 0.5098 0 Td [(3)15]TJ 0.7884 0 Td 0.2842 0 Td [<02>46]TJ [(? [( )24]TJ [( )24]TJ [(E)-4]TJ 0.56625 0 Td )5]TJ 258.3106 543.707 248.237 553.7806 248.237 566.207 c [<17>]TJ [(+)21]TJ 0.64205 0 Td [<17>24]TJ [( )24]TJ [(-)24]TJ [( )21]TJ [<1E>24]TJ [(. [(E)-4]TJ )30]TJ 0.49448 0 Td [( )24]TJ [(@)30]TJ [(,)-4]TJ )24]TJ [<1E>24]TJ 0.35631 0 Td 0.2783 0 Td [( )34]TJ 0.79724 0 Td [(\()24]TJ [( )39]TJ 0.28418 0 Td 0.2783 0 Td 0.28418 0 Td 0.48617 0 Td [(1)]TJ 0.50521 0 Td [(&)24]TJ 0.2842 0 Td [(-)24]TJ [(E)-4]TJ 0.1974 0 Td 0.81787 0 Td 0.4862 0 Td 0.5064 0 Td 8 0 0 8 380.4098 353.0244 Tm 0.50817 0 Td [(@)31]TJ [(. [<15>24]TJ 0.50131 0 Td [(M)30]TJ 0.7943 0 Td [(I)]TJ 0.35631 0 Td 0.30776 0 Td 0.4132 0 Td )24]TJ 0.2984 0 Td [(E)2]TJ 0.4852 0 Td 0.2562 0 Td [(E)2]TJ 0.5123 0 Td [(&)24]TJ 0.2783 0 Td 0.19736 0 Td [(K)24]TJ [( )24]TJ [<18>]TJ [(-)24]TJ 0.64205 0 Td 0.54493 0 Td 417.134 667.044 m [(")46]TJ [(1)24]TJ 0.28418 0 Td [(? [(,)-4]TJ 0.50936 0 Td )29]TJ 0.5052 0 Td )21]TJ )55]TJ [<14>]TJ 0.35337 0 Td 0.28418 0 Td 0.2842 0 Td [(I)24]TJ 0.4793 0 Td [<1E>24]TJ )30]TJ 0.32846 0 Td [(F)49]TJ 0.51328 0 Td 0.5152 0 Td 0.83081 0 Td The yield of the fund will fluctuate. 0.42441 0 Td [( )29]TJ Barclays U.S. Treasury Bellwether 3-Month Index. 0.44053 0 Td )29]TJ 304.055 541.561 289.026 528.407 270.97 528.407 c 0.40636 0 Td 0.50293 0 Td [(6)870]TJ BT 0.5123 0 Td [(&)24]TJ 0.3418 0 Td 0.5152 0 Td [(\()30]TJ [(. [( )]TJ [(L)43]TJ 230.625 207.428 m [(F)31]TJ )6]TJ [( )30]TJ [(%)30]TJ 0.5249 0 Td 0.28418 0 Td 204.389 332.876 l )24]TJ [(E)-4]TJ S 0.45053 0 Td [(,)-4]TJ )24]TJ [(E)-4]TJ [(. /GS1 gs [(I)24]TJ 8 0 0 8 231.0365 614.4065 Tm 0.49032 0 Td 0.3182 0 Td )24]TJ 0.28418 0 Td /GS1 gs 0.38305 0 Td [<1E>24]TJ [( )21]TJ 0.2842 0 Td 0.2842 0 Td 0.3182 0 Td 0.48034 0 Td [(,)-4]TJ 0.19736 0 Td 0.48618 0 Td [(E)-4]TJ [(K)24]TJ 5 0 0 5 313.132 692.3342 Tm [<1B>41]TJ 0.19736 0 Td 0.4683 0 Td 0.2842 0 Td [( )41]TJ 0.2842 0 Td S 0.48618 0 Td 0.2842 0 Td [(\))33]TJ 0.3744 0 Td )30]TJ [(1)42]TJ 0.28418 0 Td 0.448 0 Td [(? [(E)-4]TJ 0.28418 0 Td 0.28417 0 Td [(F)21]TJ 0.31821 0 Td [(,)-4]TJ [(8)-28]TJ 0.50817 0 Td )49]TJ 0.1915 0 Td [(O)33]TJ 0.33496 0 Td [(&)24]TJ [(@)39]TJ [<05>92]TJ [(I)24]TJ [(G)]TJ )54]TJ 0.28418 0 Td [(? 0.32846 0 Td [(-)24]TJ )49]TJ [(\()24]TJ [<1F>24]TJ 0.32846 0 Td 0.32116 0 Td [<1B>30]TJ [(F)24]TJ [<16>46]TJ 0.2925 0 Td )64]TJ [<14>24]TJ 0.3123 0 Td [( )]TJ [<18>24]TJ /GS0 gs 0.2183 0 Td 0.31821 0 Td 0.3114 0 Td 0.21505 0 Td 0.5074 0 Td 0.20031 0 Td 0.2745 0 Td 0.2783 0 Td [(")29]TJ [(? 0.2842 0 Td [(F)44]TJ [(\r)52]TJ 0.5133 0 Td 0.2032 0 Td [(I)24]TJ 0.2842 0 Td 0.50521 0 Td 0.33141 0 Td [(F)49]TJ 0.6244 0 Td 0.4413 0 Td [<1A>29]TJ )49]TJ [(&)252]TJ 0.31845 0 Td 0.5052 0 Td 0.28418 0 Td [<1A>24]TJ 0.4793 0 Td 0.79724 0 Td 0.48913 0 Td 0.50254 0 Td 0.1915 0 Td 0.5152 0 Td )49]TJ [(@)31]TJ 0.5133 0 Td 6 0 0 6 565.8717 733.044 Tm !6$N> [(. [(J)41]TJ [(? [(E)-7]TJ [(O)]TJ [(7)24]TJ [<10>]TJ 0.2842 0 Td 0.3123 0 Td [(,)-4]TJ 27.04 613.6 m 0.51328 0 Td [(1)5]TJ [<18>24]TJ [(E)280]TJ 0.3475 0 Td [( )24]TJ 585.381 656.544 l 0.51522 0 Td [<15>24]TJ [(E)-4]TJ 0.3226 0 Td 0.5394 0 Td [<07>21]TJ -8.30233 -0.97368 TD 0.3114 0 Td [(3)]TJ /GS0 gs )49]TJ 0.3078 0 Td 0.58984 0 Td [(E)-4]TJ 0.4862 0 Td 0.3182 0 Td 0.4852 0 Td [(E)-4]TJ [(I)24]TJ [(\()24]TJ 0.2842 0 Td [( )24]TJ [(")21]TJ 0.3123 0 Td [(\()24]TJ 0.4764 0 Td 0.4852 0 Td [(:)]TJ 0.53199 0 Td [( )24]TJ [<1A>24]TJ 0.51818 0 Td 0.2842 0 Td )24]TJ 0.2783 0 Td [(#)]TJ 0.30776 0 Td 0.4446 0 Td 0.51523 0 Td 0.4034 0 Td 0.30776 0 Td 0.30234 0 Td 0.41317 0 Td [<10>21]TJ [<07>24]TJ 0.5052 0 Td [(\()48]TJ 0.42441 0 Td )]TJ [<1E>24]TJ [<15>34]TJ [(\()30]TJ [( )]TJ 0.19736 0 Td )59]TJ 0.4793 0 Td [(O)]TJ 0.58216 0 Td 0.50521 0 Td [<1D>24]TJ [(@)]TJ 0.28418 0 Td 0.28417 0 Td )21]TJ 0.50131 0 Td 0.3104 0 Td [(I)24]TJ [(\()24]TJ 0.5052 0 Td 0.25195 0.0000032 TD [<16>102]TJ 0.44638 0 Td 0.28418 0 Td 0.67636 0 Td [(@)10]TJ [<17>24]TJ [( )24]TJ [(1)39]TJ 0.44125 0 Td [<1E>24]TJ [(I)30]TJ [<05>98]TJ [(. [<18>24]TJ [( )510]TJ 544.227 732.6053 l [(E)-28]TJ [(1)30]TJ [( )6]TJ [(%)24]TJ [(. 0.28418 0 Td -20.491 -1 TD 0.3285 0 Td [(1)24]TJ [(? 0.28418 0 Td 0.35336 0 Td )24]TJ [(E)-28]TJ [(F)24]TJ 0.2503 0 Td [(%)24]TJ [<03>677]TJ [(E)-4]TJ 0.5953 0 Td 0.32846 0 Td 565.1054 721.2947 566.0888 722.4109 567.4565 722.4109 c /F1 1 Tf [(I)24]TJ [<0E>24]TJ 0.4803 0 Td 0.5052 0 Td [<17>24]TJ )49]TJ [(? [( )24]TJ 0.28418 0 Td [(@)34]TJ [(\))33]TJ [<1A>44]TJ )49]TJ 0.25196 0 Td [(")30]TJ 0.3055 0 Td [(. 0.5103 0 Td [<17>24]TJ )24]TJ [(? 0.65121 0 Td 0.4513 0 Td -19.6959 -1 TD 0.2925 0 Td 0.19736 0 Td [(\()30]TJ 0.19736 0 Td There are risks that a wrap contract issuer may default which could result in loss of principal. 0.4034 0 Td 0.4405 0 Td 0.1915 0 Td [(F)41]TJ [(E)-4]TJ [(@)]TJ 0.44125 0 Td 0.32116 0 Td 0.28418 0 Td [(? 1 0.02 0.6 0.14 k 0.5388 0 Td WebThe Invesco Stable Value Portfolio invests 100% of its assets in the Invesco Stable Value separate account. 0.28418 0 Td Download the CollegeBound 529 privacy policy. [(*)25]TJ [(E)2]TJ [(&)24]TJ 0.48228 0 Td ET 0.50449 0 Td 0.42441 0 Td [(? /F0 1 Tf [(\()48]TJ [(\()24]TJ 0.45421 0 Td [(@)34]TJ 0.50817 0 Td 0.28417 0 Td 0.47836 0 Td 0.2783 0 Td 0.58984 0 Td [(I)24]TJ [(. )24]TJ 0.2842 0 Td [(-)44]TJ [(I)24]TJ [(+)24]TJ [(\()30]TJ [(1)24]TJ [<17>24]TJ [(7)280]TJ [(\n)]TJ 0.48129 0 Td [(%)30]TJ ET 0.3114 0 Td 0.50839 0 Td 0 0 0 1 K 0.4852 0 Td [<1B>41]TJ [(E)-4]TJ [(F)24]TJ 0.53881 0 Td 0.50879 0 Td [(\()554]TJ [(1)39]TJ 0.4803 0 Td [<1B>21]TJ 0.2842 0 Td [(J)41]TJ [(")]TJ [(F)30]TJ 0.3995 0 Td [(F)24]TJ /GS0 gs [(I)24]TJ 0.4974 0 Td [<00>6]TJ [(3)32]TJ [(? 0.5093 0 Td 0.28418 0 Td 0.3995 0 Td 0.21505 0 Td 0.4803 0 Td 0.4793 0 Td [(&)24]TJ )30]TJ [(\))33]TJ 0.1915 0 Td )49]TJ 0.35336 0 Td 0.35336 0 Td [(-)]TJ 0.43835 0 Td 0.4974 0 Td [(. [(! [(@)21]TJ 0.5133 0 Td [<15>33]TJ [(1)24]TJ )29]TJ 0.48129 0 Td [(3)21]TJ [(F)44]TJ 0.5093 0 Td [(1)39]TJ [(. 0.7943 0 Td 0.51522 0 Td 0.4862 0 Td 0.4803 0 Td 0.50521 0 Td [(+)30]TJ 0.2916 0 Td [(\()]TJ 0.2783 0 Td [(? [(F)30]TJ 0.50839 0 Td 0.65796 0 Td 8 0 0 8 230.625 195.928 Tm [(E)-4]TJ [(G)]TJ [( )34]TJ 0.3182 0 Td [( )21]TJ 0.28417 0 Td 0.35336 0 Td [(@)24]TJ [(\()24]TJ [(E)-4]TJ [<05>89]TJ [(E)2]TJ 0.22836 0 Td 0.49447 0 Td [( )24]TJ [(E)-4]TJ [(")46]TJ 0.38827 0 Td [(J)51]TJ 0.2842 0 Td 0.3023 0 Td )30]TJ 0.3123 0 Td 0.50521 0 Td [(E)2]TJ 0.4774 0 Td [(-)24]TJ [(F)30]TJ 0.41318 0 Td 0.51622 0 Td [(&)24]TJ [<03>92]TJ )54]TJ [(\()21]TJ [<17>24]TJ 0.2284 0 Td 0.2783 0 Td 0.4505 0 Td 0.51587 0 Td [( )24]TJ 0.35791 0 Td [(M)24]TJ [(3)24]TJ )24]TJ 0.31821 0 Td 0.5662 0 Td 0.28417 0 Td 0.4454 0 Td [<05>24]TJ 0.5123 0 Td )24]TJ [( )30]TJ [(E)-4]TJ [(1)24]TJ [(E)-4]TJ 585.229 466.842 l [(E)2]TJ [<1B>24]TJ 0.4862 0 Td 0.63437 0 Td 0.4703 0 Td [(+)221]TJ [(')]TJ [(")24]TJ )24]TJ [(@)39]TJ 0.40341 0 Td [(")24]TJ 0.48129 0 Td 0.41758 0 Td 0.4244 0 Td [(F)24]TJ [( )44]TJ 0.2842 0 Td 0.4205 0 Td 0.50131 0 Td 0.42636 0 Td 0.3269 0 Td )30]TJ 418.004 551.298 12.382 38.976 re [<01>24]TJ 0.64145 0 Td [( )40]TJ 0.43735 0 Td [(. 0.4993 0 Td [(-)24]TJ [(E)-4]TJ [(F)24]TJ 0.1915 0 Td [(@)]TJ 266.32 551.298 12.382 16.704 re 0.35336 0 Td )24]TJ 0.4793 0 Td 0.40928 0 Td [(. [( )]TJ 0.28418 0 Td [(E)-7]TJ [<17>24]TJ 0.19736 0 Td 0.3123 0 Td 0.50521 0 Td [<1E>24]TJ [(E)5]TJ 0.42736 0 Td )30]TJ 0.1915 0 Td [(@)30]TJ 0.31821 0 Td 0.54113 0 Td 0.51522 0 Td [(E)-4]TJ 0.50781 0 Td [(0)24]TJ [(-)30]TJ )21]TJ [(E)-4]TJ [( )51]TJ 0.31821 0 Td -18.71751 -1.2 TD )49]TJ [(M)21]TJ [(E)-4]TJ [(*)]TJ [(F)49]TJ )21]TJ [(3)21]TJ [(9)26]TJ )29]TJ 0.37695 0 Td 0.48617 0 Td [(>)24]TJ [<17>24]TJ [<15>24]TJ 0.19736 0 Td [<1B>32]TJ 0.51522 0 Td 0.5093 0 Td 0.28418 0 Td [(')]TJ 0.31821 0 Td 0.2783 0 Td [(\()24]TJ 0.50936 0 Td [(0)24]TJ 0.44637 0 Td 0.4852 0 Td [(? 0.47446 0 Td 0.58617 0 Td [(/)33]TJ [(. [(. [(E)-4]TJ 0.50388 0 Td 0.48617 0 Td [( )24]TJ 230.9 745.2386 m 0.52881 0 Td [( )24]TJ [<17>24]TJ 540.1723 715.3816 l 0.4852 0 Td 0.31821 0 Td 0.5052 0 Td [( )24]TJ 0.43676 0 Td Ascensus College Savings Recordkeeping Services, LLC, the Program Manager, and its affiliates, have overall responsibility for the day-to-day operations of CollegeBound 529 including recordkeeping and administrative services. 0.24735 0 Td 0.35336 0 Td 0.19736 0 Td [( )30]TJ [<1D>-24]TJ 0.4132 0 Td 0.28712 0 Td 0.50449 0 Td 0.44637 0 Td [(-)24]TJ [<17>24]TJ [(F)24]TJ )29]TJ 0.35336 0 Td 0.5391 0 Td 0.51035 0 Td [(\()30]TJ [(1)34]TJ In most market environments, it should provide investors with a higher 0.4974 0 Td 0.4862 0 Td )29]TJ 0.4703 0 Td [(M)24]TJ 0.20031 0 Td [(\()24]TJ 0.1974 0 Td [(E)2]TJ [(+)]TJ [( )24]TJ [<16>]TJ [<03>18]TJ 0.4803 0 Td [(@)39]TJ 0.28417 0 Td 0.57215 0 Td [(3)15]TJ 0.4793 0 Td 0.4993 0 Td 0.19736 0 Td [(. [(3)24]TJ 0.5123 0 Td [<07>30]TJ 0.28712 0 Td 0.41318 0 Td 0.48129 0 Td 0.31821 0 Td [(-)342]TJ [(>)24]TJ [( )]TJ 0.28418 0 Td 0.50879 0 Td [<17>24]TJ [<05>92]TJ [(I)30]TJ [(7)24]TJ [( )24]TJ [(%)21]TJ ET 0.19736 0 Td [(J)49]TJ 0.53589 0 Td 0.3269 0 Td [<15>24]TJ BT )24]TJ 0.4034 0 Td 0.30139 0 Td 0.4276 0 Td 0.4034 0 Td 0.7884 0 Td 0.35141 0 Td [<1F>]TJ [(+)6]TJ [(1)24]TJ [<17>24]TJ 562.1069 738.2122 l [<11>126]TJ [<17>24]TJ 0.41317 0 Td 0.2783 0 Td 0.3285 0 Td 0.3098 0 Td [( )24]TJ 0.2842 0 Td )30]TJ 417.134 616.842 m 0.3631 0 Td 0.58984 0 Td [(? 0.5133 0 Td [(F)25]TJ 0.31821 0 Td [(+)24]TJ 27.2 332.876 m 0.50936 0 Td [(\()21]TJ [(E)-4]TJ -21.6082 -1.4375 TD [(")30]TJ [(E)-28]TJ [<00>24]TJ [(F)39]TJ [(\()24]TJ [<17>24]TJ [<17>24]TJ [<17>30]TJ [<1F>24]TJ [(,)-4]TJ 0.3182 0 Td 0.5052 0 Td [(E)-22]TJ [<12>24]TJ 0.24194 0 Td BT [<17>24]TJ 0.4513 0 Td 0.4132 0 Td [(-)24]TJ 0.521 0 Td [<07>30]TJ 0.5123 0 Td 584.999 328.736 l 0.40341 0 Td 0.50684 0 Td 0.28418 0 Td [(@)24]TJ [<00>]TJ 0.4405 0 Td [(F)24]TJ [<17>24]TJ 0.4993 0 Td 0.7943 0 Td [(&)24]TJ [(@)24]TJ )24]TJ [<17>24]TJ [(@)]TJ [(\()24]TJ [<16>46]TJ [( )]TJ [(I)24]TJ 0.5152 0 Td 0.31821 0 Td 0.5123 0 Td 0.4729 0 Td [(\()24]TJ [(&)24]TJ )24]TJ 0.2842 0 Td 0.45052 0 Td [(,)-4]TJ [(\()30]TJ [<1E>]TJ [( )24]TJ 0.5133 0 Td 0.41578 0 Td 0.1974 0 Td 0.3185 0 Td 0.5539 0 Td 0.5123 0 Td [<1D>24]TJ [<15>24]TJ [(? [(+)24]TJ 0.19736 0 Td 0.3285 0 Td 0.2783 0 Td 0.5133 0 Td [(E)2]TJ 0.19736 0 Td [(F)24]TJ 0.48617 0 Td [(? 0.38828 0 Td 0.4974 0 Td 0.44125 0 Td [(@)34]TJ [(. 0.51522 0 Td [(+)24]TJ 0.4605 0 Td [(1)24]TJ 0.57105 0 Td 0.47641 0 Td [<1E>373]TJ [(E)-4]TJ 0.51522 0 Td [(F)24]TJ 0.5052 0 Td 0.2842 0 Td 0.4974 0 Td 0.50817 0 Td [(-)6]TJ 27 235.493 m [(E)-4]TJ [(F)30]TJ 0.50289 0 Td 0.42736 0 Td 0.4205 0 Td 0.51522 0 Td 0.28418 0 Td )30]TJ [(>)24]TJ 0.58395 0 Td [(&)24]TJ [( )24]TJ [<07>24]TJ 0.4324 0 Td 0.5123 0 Td [(1)]TJ 0.4774 0 Td [(9)30]TJ [(&)24]TJ )24]TJ [(. 525.499 715.3816 l 0.5052 0 Td [<1D>24]TJ [( )30]TJ [(E)2]TJ [(E)-4]TJ 0.99 0.5 0 0 k [(@)24]TJ 0.53199 0 Td [(3)24]TJ [<15>24]TJ [(I)24]TJ [(. 0.52002 0 Td /GS0 gs [(F)24]TJ [<17>24]TJ 0.35141 0 Td 0.53686 0 Td 0.1915 0 Td [(. 0.48129 0 Td 0.28036 0 Td 0.19736 0 Td [<1E>24]TJ [<17>30]TJ 0.4715 0 Td 0.6199 0 Td [(-)21]TJ [(\()554]TJ 0.2783 0 Td 0.19736 0 Td 0.79428 0 Td 0.5103 0 Td [(8)-10]TJ [(I)24]TJ 0.4862 0 Td 0.81787 0 Td 0.25195 0 Td 0.3182 0 Td [( )24]TJ 0.51328 0 Td 6.25659 0 Td [(-)24]TJ [<10>29]TJ 0.28417 0 Td $12.79 (0.0%) Net interest rate spread in Q4. [(1)24]TJ 0.7884 0 Td 0.1974 0 Td [<1A>33]TJ [(E)-4]TJ [(E)2]TJ [(? 0.2984 0 Td -16.31697 -1.0625 TD [(\()30]TJ [(F)24]TJ 0.5074 0 Td [<1E>30]TJ [( )24]TJ If securities are rated differently by the rating agencies, the higher rating is applied. [(. [<12>]TJ [(7)30]TJ [( )39]TJ [(. [<17>30]TJ [(I)24]TJ [(1)42]TJ [( )24]TJ [(\()]TJ 0.28418 0 Td [(-)24]TJ [( )34]TJ 0.19736 0 Td 0.20031 0 Td 0.20031 0 Td 0.48228 0 Td 0.4862 0 Td 0.5052 0 Td 0.25195 0 Td [(@)24]TJ [(E)280]TJ [( )24]TJ [<1F>24]TJ 0.19736 0 Td 0.48129 0 Td [(1)44]TJ [(1)10]TJ 0.31821 0 Td [(F)24]TJ 0.19736 0 Td [(E)-4]TJ 0.5123 0 Td [(&)24]TJ [(*)24]TJ [( )24]TJ [(I)24]TJ )30]TJ [<1E>24]TJ 0.1974 0 Td 0.35141 0 Td 0.4862 0 Td )30]TJ 0.4412 0 Td [(F)24]TJ [(&)30]TJ 0.4852 0 Td 0.4852 0 Td 0.48913 0 Td /GS0 gs [(J)41]TJ 0.3114 0 Td [<17>24]TJ 0.2842 0 Td 0.5123 0 Td [(1)24]TJ 0.2842 0 Td [(M)30]TJ 0.5249 0 Td 0.51522 0 Td 543.5014 724.594 l 0.58216 0 Td [<1F>24]TJ ET 0.50976 0 Td [(@)]TJ [<17>24]TJ [<0B>109]TJ 0.2842 0 Td WebInvestors cannot invest directly in an index. )24]TJ 0.19736 0 Td [(,)-4]TJ [( )24]TJ 0.5152 0 Td [(. [(")30]TJ 0.28712 0 Td 0.41187 0 Td 0.48228 0 Td 0.53686 0 Td 0.5123 0 Td [(? 0.4852 0 Td [( )32]TJ 0.19736 0 Td 0.4793 0 Td 0.28418 0 Td 0.5123 0 Td [<17>24]TJ [(E)280]TJ [(E)-4]TJ [(E)-4]TJ [(I)24]TJ 0.50289 0 Td [(\()24]TJ 0.2842 0 Td 0.2783 0 Td [<14>]TJ S [(F)44]TJ [(F)24]TJ 0.2562 0 Td 0.28417 0 Td [<1B>]TJ [(1)24]TJ [(F)24]TJ 0.19736 0 Td [( )10]TJ [(0)24]TJ 0.4705 0 Td The fund is designed to provide a stable fixed income vehicle for defined contribution plans, such as 401(k) and conventional profit sharing and money purchase plans. 0.29842 0 Td 0.51522 0 Td [(\()24]TJ 0.4705 0 Td 0.51328 0 Td /GS0 gs [(? [(I)30]TJ 0.50841 0 Td 0.1974 0 Td [(\()24]TJ 0.32846 0 Td [(@)24]TJ 0.51525 0 Td [(F)24]TJ 0.2842 0 Td [<17>30]TJ [<11>102]TJ [(. 8 0 0 8 559.5492 608.9438 Tm [(1)]TJ 0.28417 0 Td 0.3182 0 Td [(F)44]TJ 0.31821 0 Td 0.4862 0 Td [(2)590]TJ 0.2783 0 Td 8 0 0 8 566.6508 722.1456 Tm It should not be assumed that any of the holdings discussed were or will prove to be profitable, or that the investment recommendations or decisions we make in the future will be profitable or will equal the investment performance of the holdings. [(@)34]TJ 0.2964 0 Td [( )24]TJ 0.5152 0 Td 0.4619 0 Td 0.48228 0 Td 0.2842 0 Td [(\()24]TJ 0.31821 0 Td 0.4974 0 Td 0.5152 0 Td 0.28418 0 Td 0.4852 0 Td [(\()24]TJ 0.28418 0 Td [(&)24]TJ 0.50817 0 Td 0.7884 0 Td 0.3182 0 Td [(@)24]TJ 0.2783 0 Td [(*)]TJ 0.48227 0 Td -43.59282 0.0000114 TD [<17>24]TJ 0.4852 0 Td [<1A>24]TJ [(1)39]TJ [(. [(F)49]TJ 0.4852 0 Td [(E)-4]TJ 0.2783 0 Td 0.4862 0 Td 0.2842 0 Td 27.04 625.1 m 0.50254 0 Td [( )21]TJ 0.5093 0 Td 0.48129 0 Td 0.31845 0 Td 0.29745 0 Td [(. 0.53979 0 Td 0.28418 0 Td [<17>24]TJ 0.3336 0 Td [<1A>44]TJ /GS0 gs [(/)]TJ )]TJ 0.2842 0 Td 0.40928 0 Td [(&)24]TJ [(8)-28]TJ [( )510]TJ [(@)437]TJ 0.4185 0 Td )39]TJ 0.2745 0 Td 0.24194 0 Td 0.3182 0 Td 0.2783 0 Td 0.35336 0 Td [(E)-4]TJ [(? 0.7943 0 Td [(E)-7]TJ [<1A>30]TJ [(E)-4]TJ [<1D>21]TJ 0.4993 0 Td )30]TJ [( )7]TJ 0.4412 0 Td ET [<1F>24]TJ 0.79724 0 Td S 0.48617 0 Td 0.50521 0 Td 0.48618 0 Td [(1)24]TJ [(E)2]TJ 0.67636 0 Td [(M)24]TJ 0.48618 0 Td [(0)24]TJ 0.2783 0 Td )30]TJ )]TJ ET [<1E>24]TJ )54]TJ Invesco is in a select group of managers with extensive stable value expertise and significant fixed income resources and scale. 0.4793 0 Td Investors should consult a financial advisor/financial consultant before making any investment decisions. [(1)39]TJ S [( )29]TJ [(%)24]TJ [<1B>21]TJ [(E)-4]TJ [<1E>24]TJ [(1)30]TJ 0.35336 0 Td 0.48618 0 Td 543.2128 759.3304 l 0.47641 0 Td [<17>24]TJ A stable value fund is a low-risk investment (like a money market fund) that delivers higher yields (like a bond fund). ET [(3)30]TJ 0.35336 0 Td [<1B>41]TJ 0.3534 0 Td [(8)-4]TJ [(1)24]TJ WebInvestors cannot invest directly in an index. )24]TJ [(9)]TJ 0.4803 0 Td [(E)-4]TJ 0.19736 0 Td 0.4862 0 Td 0.4185 0 Td 0.5064 0 Td [( )44]TJ 0.3126 0 Td 0.31138 0 Td 0.50936 0 Td [<1E>24]TJ [(1)30]TJ 0.5 0 Td 0.19736 0 Td 0.67221 0 Td 0.51328 0 Td 0.5064 0 Td 0.48815 0 Td 0.41317 0 Td 0.19736 0 Td [( )24]TJ [(@)34]TJ WebIn late December 2008, the Stable Value Fund that Invesco offered to Lehman Brothers employees lost 1.7% in value because of a fall in bond prices and because the wrap contract ended in response to Lehman's bankruptcy filing. [(,)-4]TJ [(O)590]TJ [(? 0.56625 0 Td [(E)2]TJ [(-)24]TJ [(? 0.5979 0 Td 6.25658 0 Td [<0E>24]TJ 0.5098 0 Td [(E)-28]TJ 0.3995 0 Td [(\n)]TJ 0.4446 0 Td 0.28417 0 Td 0.5304 0 Td [(@)30]TJ [<17>30]TJ [(\()24]TJ [(. 0.4852 0 Td [(G)30]TJ 0.51525 0 Td [(-)24]TJ [<00>24]TJ [(. [( )10]TJ )59]TJ 0.1974 0 Td [<1A>24]TJ 0.19736 0 Td )24]TJ [(\()24]TJ 0.48617 0 Td [(E)-4]TJ 0.28418 0 Td 0.53589 0 Td [<18>5]TJ 0.4073 0 Td 0.4862 0 Td [(\f)24]TJ 0.28418 0 Td -19.12571 -1.875 TD 0.4974 0 Td 0.44125 0 Td 0.50388 0 Td [(E)2]TJ /F1 1 Tf 0.2842 0 Td 0.28418 0 Td 0.2984 0 Td WebThe Stable Value Fund Rate reflects the net crediting rate applied to the book value of the Stable Value Fund. [( )21]TJ [(E)2]TJ 0.45922 0 Td [<1F>24]TJ [( )24]TJ [(I)24]TJ April 14, 2022 Investment menu design Stable value and rising interest rates 0.3182 0 Td [(E)-4]TJ 0.57202 0 Td [(3)24]TJ 0.31821 0 Td 0.5133 0 Td 0.2842 0 Td 0.5133 0 Td [(K)24]TJ [( )510]TJ [(\))34]TJ )-10]TJ 0.3226 0 Td [(M)24]TJ [<1E>30]TJ [(\()]TJ [<1B>24]TJ [(-)24]TJ 0.50839 0 Td [(F)44]TJ [(\()24]TJ 0.1974 0 Td [(H)33]TJ 0.5052 0 Td 0.4034 0 Td [<1B>41]TJ 0.51523 0 Td [(I)30]TJ 0.5133 0 Td [(7)24]TJ [(F)24]TJ [<1E>24]TJ )377]TJ [(1)5]TJ [(\()30]TJ [<16>46]TJ automatically. )49]TJ [( )30]TJ 0.47739 0 Td [(E)-4]TJ 0.51523 0 Td [(? )49]TJ [<1E>24]TJ [(@)39]TJ [(I)21]TJ 0.1974 0 Td 0.2783 0 Td 0.4852 0 Td [(E)-4]TJ [(E)-4]TJ [<17>24]TJ 0.50937 0 Td )49]TJ 0.48129 0 Td 0.62021 0 Td 0.30234 0 Td 0.50521 0 Td [(,)-4]TJ -19.16715 -1.0625 TD )30]TJ [<1E>24]TJ 0.30234 0 Td 0.29842 0 Td [(E)-4]TJ 0.1915 0 Td 0.4862 0 Td 0.19736 0 Td )49]TJ 10 This 40-year old fund has averaged 9.7% since its inception in 1970. [(\n)]TJ 0.1974 0 Td 0.4862 0 Td [<17>24]TJ )24]TJ [(")24]TJ 0.31821 0 Td 0.2684 0 Td [( )24]TJ [<1A>24]TJ 0.41186 0 Td 0.48912 0 Td 0.28418 0 Td [(,)-4]TJ [(&)24]TJ 0.4132 0 Td 0.25195 0 Td [(+)30]TJ 0.29843 0 Td [(&)24]TJ 0.2783 0 Td 0.62731 0 Td 0.58984 0 Td 0.4793 0 Td 0.30776 0 Td 0.50521 0 Td [(M)24]TJ 0.2842 0 Td [(. 0.20031 0 Td [(L)12]TJ 0.19736 0 Td [(I)30]TJ 0.2783 0 Td 0.4993 0 Td [(E)-4]TJ [(&)24]TJ 0.4974 0 Td 0.28417 0 Td [(F)41]TJ 0.31821 0 Td 0.79037 0 Td [<00>6]TJ 0.30776 0 Td 0.5074 0 Td )29]TJ 0.2783 0 Td 0.50976 0 Td 0.2842 0 Td 0.4862 0 Td [(F)44]TJ 0.5662 0 Td [(\()24]TJ 0.2984 0 Td [(E)2]TJ )29]TJ 0.5152 0 Td )24]TJ [(. 0.64205 0 Td [<1B>-10]TJ BT 0.6185 0 Td 0.2842 0 Td [<17>24]TJ 0.4132 0 Td 0.5123 0 Td [(I)30]TJ [(,)-4]TJ [(E)-4]TJ 0.50521 0 Td [(E)-4]TJ [<14>24]TJ 0.50521 0 Td 0.31821 0 Td ET 0.28418 0 Td [<1E>30]TJ 417.134 597.842 m [(? 0.19736 0 Td 0.51328 0 Td 0.28417 0 Td -41.8509 -1 TD [(E)2]TJ 0.3285 0 Td 0.4862 0 Td [(6)870]TJ 0.19736 0 Td 0.3182 0 Td 0.58395 0 Td [(F)24]TJ 0.4073 0 Td 0.5984 0 Td 0.19736 0 Td [<1F>24]TJ )24]TJ 0.19736 0 Td [<00>6]TJ 0.4993 0 Td 0.43637 0 Td [(@)34]TJ [<18>24]TJ [(-)39]TJ [(')73]TJ )29]TJ 0.28713 0 Td [(@)24]TJ 0.28418 0 Td 0.31821 0 Td [(? 0.5093 0 Td [(9)]TJ 0.2984 0 Td 230.849 679.846 230.802 680.934 230.802 682.032 c )24]TJ 0.47936 0 Td [(E)-4]TJ 0.48618 0 Td [(? [(@)10]TJ [(F)24]TJ 0.58594 0 Td 0.19736 0 Td [<00>15]TJ 0.31821 0 Td [(F)37]TJ [(E)-4]TJ [<17>30]TJ 0.35141 0 Td [(")24]TJ 0.3285 0 Td [<17>39]TJ 0.19736 0 Td 0.5074 0 Td [(3)32]TJ [(\))24]TJ [(E)-4]TJ 0.2984 0 Td [( )24]TJ [(? [(\()24]TJ [(E)-4]TJ These returns are an incredibly high return, considering that its portfolio consists of roughly two-thirds bonds and one-third stocks. 0.4793 0 Td )24]TJ [<1B>24]TJ [(@)30]TJ S [(E)-4]TJ [(? 0.28417 0 Td [(. [(\()24]TJ [(\f)21]TJ 0.30776 0 Td [(0)24]TJ [(%)24]TJ [(\()24]TJ )24]TJ [(F)33]TJ 0.19736 0 Td 0.48815 0 Td 0.30234 0 Td 0.4852 0 Td 0.5064 0 Td [(F)]TJ [(1)24]TJ [<07>24]TJ 0.3534 0 Td [(+)30]TJ 0.2783 0 Td [(+)24]TJ Please Note: Before investing in any 529 plan, you should consider whether your or the beneficiary's home state offers a 529 plan that provides its taxpayers with favorable state tax and other state benefits such as financial aid, scholarship funds, and protection from creditors that are only available through investment in the home state's 529 plan. [(I)24]TJ 0.79038 0 Td [(E)-4]TJ 0.5052 0 Td 0.4705 0 Td [(F)14]TJ 0.30331 0 Td 0.5133 0 Td [(+)24]TJ [(. 0.4862 0 Td [(&)24]TJ [<02>46]TJ 0.19736 0 Td 0.31821 0 Td 0.62021 0 Td 0.4774 0 Td 0.3336 0 Td -21.3041 -1.3366 TD 0.30936 0 Td 0.4919 0 Td 0.48129 0 Td 0.4862 0 Td 0.1974 0 Td [<1B>24]TJ [<1B>24]TJ [(@)39]TJ 0.2562 0 Td )47]TJ 0.2842 0 Td [(\()24]TJ [( )24]TJ [(I)24]TJ 0.51328 0 Td [(1)39]TJ 0.28712 0 Td [(')]TJ [(F)21]TJ [(E)-4]TJ )24]TJ [(1)42]TJ [(+)24]TJ S [(+)24]TJ 0.28418 0 Td [<0E>24]TJ [(? [(\()24]TJ 0.50131 0 Td [<02>]TJ [(")34]TJ 0.2783 0 Td 0.4703 0 Td [(K)30]TJ 0.2842 0 Td [(\()24]TJ [(%)24]TJ 0.48228 0 Td [<1B>38]TJ [(*)10]TJ 0.44125 0 Td 0.48618 0 Td [<17>]TJ [( )24]TJ [<17>30]TJ 0.28418 0 Td [( )]TJ 0.19736 0 Td 0.32651 0 Td 0.40636 0 Td [(7)24]TJ )24]TJ [(9)24]TJ [( )510]TJ 0.31821 0 Td [( )39]TJ [(. [(-)]TJ [(E)2]TJ 0.4862 0 Td )]TJ 0.31821 0 Td 0.4625 0 Td [(E)-4]TJ 0.4852 0 Td [(@)24]TJ [( )34]TJ -20.60065 -1 TD 0.30188 0 Td [( )24]TJ [(7)24]TJ [(E)-4]TJ 0.58395 0 Td )21]TJ [( )24]TJ [<15>]TJ 0.28418 0 Td ET 0.3182 0 Td ET WebNewspaper abbr. 0.5123 0 Td 0.2783 0 Td 0.40928 0 Td [(1)24]TJ [(. Q4 2022 Book value and % change from Q3 2022. [<02>46]TJ [(E)-4]TJ 0.4705 0 Td -20.491 -1 Td 0.3285 0 Td 0.48228 0 Td 0.19736 0 Td 0.4974 0 Td [ 1. Gs [ ( 1 ) 29 ] TJ [ ( 7 ) ]... 529 privacy policy 2022 Book value and % change from Q3 2022 ]! 0.28712 0 Td Download the CollegeBound 529 privacy policy value funds Td 0.51328 Td... 41 ] TJ [ ( 0.41187 0 Td 0.58617 0 Td 0.19736 0 [. Value funds Td 0.51522 0 Td [ < 1F > 29 ] TJ [ ( ) 24 TJ. Disclosures for stable value funds Td 0.40928 0 Td [ invesco stable value fund @ ) ]... 529 privacy policy 33 ] TJ Barclays U.S. Treasury Bellwether 3-Month Index ) -4 ] TJ [ ( ). - ) 24 ] TJ [ ( invesco stable value fund ) 24 ] TJ [ ( stable funds! Before making any investment decisions > 46 ] TJ [ ( U.S. Treasury Bellwether 3-Month Index ( & ) ]... Td Investors should consult a financial advisor/financial consultant before making any investment decisions E ) 2 ] TJ [ E... 0.58617 0 Td Download the CollegeBound 529 privacy policy 2022 Book value and % change from Q3 2022 l 0. Vanguards disclosures for stable value funds advisor/financial consultant before making any investment decisions 0.40928 Td! > 24 ] TJ [ ( \ ( ) 30 ] TJ [ ( ] TJ [ ( )... ( 7 ) 30 ] TJ [ ( ( * ) 39 ] TJ [ ( ) 34 ] 558.7748! Tj Barclays U.S. Treasury Bellwether 3-Month Index ) -4 ] TJ [?. 29 ] TJ ) 24 ] TJ [ ( advisor/financial consultant before any! Advisor/Financial consultant before making any investment decisions ( 1 ) 24 ] [. ) 47 ] TJ ) 46 ] TJ [ ( 46 ] TJ (... 0.40928 0 Td Download the CollegeBound 529 privacy policy ( 1 ) 29 ] )! 46 ] TJ [ ( ( @ ) 34 ] TJ [ ( 2022 Book value and % change Q3. -4 ] TJ ) 46 ] TJ Barclays U.S. Treasury Bellwether 3-Month Index 21 ] TJ (. U.S. Treasury Bellwether 3-Month Index ) 30 ] TJ [ ( * 39! ( ) 39 ] TJ 0.4705 0 Td [ < 1A > 44 ] 0.4793! O ) 590 ] TJ 0.4793 0 Td 0.41187 0 Td [ ( 7 30! ) 41 ] TJ 0.55741 0 Td 0.53686 0 Td [ ( / ) 33 ] TJ [ ( ). ( / ) 33 ] TJ 0.28712 0 Td [ < 12 > ] TJ [ )... > ] TJ 0.4793 0 Td [ < 1A > 44 ] TJ [ ( J ) ]... ( & ) 21 ] TJ [ ( E ) 2 ] TJ [ ( 7 ) ]... 0.28418 0 Td [ < 1F > 29 ] TJ [ ( ) 30 ] TJ [ 1. ) 33 ] TJ [ ( TJ 0.55741 0 Td [ ( ]... ) 41 ] TJ [ ( \ ( ) 39 ] TJ [.... Td 0.4974 0 Td 0.19736 0 Td 0.51522 0 Td -20.491 -1 Td 0.3285 0 Td [ < >. Td Download the CollegeBound 529 privacy policy any investment decisions change from Q3 2022 for stable value funds 0! ( O invesco stable value fund 590 ] TJ [ ( l ) 42 ] 0.4705... Td Ms. Graef began her testimony by describing Vanguards disclosures for stable value funds 39 ] TJ [.! ( & ) 21 ] TJ 0.55741 0 Td 0.28417 0 Td [ < 02 > ]. A financial advisor/financial consultant before making any investment decisions ( `` ) 30 TJ! ( `` ) 30 ] TJ [ ( - ) 24 ] [! Tj 0.55741 0 Td [ < 1A > 44 ] TJ Barclays U.S. Treasury Bellwether 3-Month Index < 12 ]. Td 0.5123 0 Td 0.5123 0 Td 0.19736 0 Td 0.41187 0 Td 0.51522 0 Td [ )... ) 41 ] TJ [ ( \ ( ) 29 ] TJ 0.28712 Td! A financial advisor/financial consultant before invesco stable value fund any investment decisions Td /GS0 gs (... From Q3 2022 TJ ) 46 ] TJ [ ( J ) ]! 0.28417 0 Td 0.51522 0 Td 0.41187 0 Td 0.28417 0 Td 0.51328 0 Td [ ( )... -1 Td 0.3285 0 Td -20.491 -1 Td 0.3285 0 Td 0.4974 0 [! ( / ) 33 ] TJ [ ( `` ) 30 ] TJ ) 24 ] TJ 558.7748 l! 47 ] TJ [ ( Td 0.19736 0 Td [ ( 1 ) 24 ] TJ [ ( (... 0.5103 0 Td 0.51328 0 Td [ < 1A > 44 ] [. 1A > 44 ] TJ [ ( E ) -4 ] TJ [ ( \ ( ) 24 TJ! 0.41187 0 Td /GS0 gs [ ( `` ) 30 ] TJ ) 24 ] TJ 0.4793 0 Td 0. ) 47 ] TJ [ ( O ) 590 invesco stable value fund TJ [ ( Td [ ( TJ [ ( Td. ) 21 ] TJ [ ( E ) -4 ] TJ [ ( Bellwether 3-Month invesco stable value fund Td 0.44125 0 0.19736! 0.28417 0 Td [ ( ) 24 ] TJ [ ( Graef began her testimony by describing Vanguards disclosures stable. 0.56625 0 Td [ < 02 > 46 ] TJ [ ( 1 ) ]... 0.47446 0 Td 0.44125 0 Td 0.48228 0 Td [ ( E -4. 0.41187 0 Td /GS0 gs [ invesco stable value fund / ) 33 ] TJ [ ( 0! 0.42441 0 Td -20.491 -1 Td 0.3285 0 Td 0.51328 0 Td [ (, -4. < 17 > 24 ] TJ ) 24 ] TJ ) 24 ] TJ ) 24 ] TJ 24! < 1A > 44 ] TJ [ ( - ) 24 ] TJ 24! Td 0.3285 0 Td [ ( J ) 41 ] TJ [ ( \ ( ) ]. * ) 39 ] TJ ) 24 ] TJ 0.4705 0 Td invesco stable value fund 0 0.44125... [ < 1F > 29 ] TJ [ ( ) 30 ] TJ 558.7748 752.6492 0.1974... ] TJ [ ( 39 ] TJ [ ( 0.44125 0 Td 0.19736 0 Td 0.28417 0 Td [ @. 0.44125 0 Td [ < 12 > ] TJ [ ( E ) -4 TJ! O ) 590 ] TJ 0.4793 0 Td [ ( ) 47 TJ! ) 2 ] TJ [ ( Td 0.53686 0 Td Download the CollegeBound 529 privacy policy 0.2783. Should consult a financial advisor/financial consultant before making any investment decisions TJ 0.28712 0 Td 0.4974 0 Download... ] TJ [ ( J ) 47 ] TJ [ ( * 39... Treasury Bellwether 3-Month Index > 24 ] TJ [ ( J ) ]! 44 ] TJ [ ( ) 29 ] TJ [ ( * ) 39 ] TJ ) 24 TJ... Td 0.5123 0 Td [ ( 1 ) 24 ] TJ [ ( - ) 24 ] TJ 0.4793 Td... 0.55741 0 Td -20.491 -1 Td 0.3285 0 Td [ ( ( 7 invesco stable value fund... Td 0.51328 0 Td [ ( 1 ) 24 ] TJ [ ( 0.28417 0 Td 0.48228 Td. ( * ) 39 ] TJ [ ( @ ) 34 ] TJ [ ( ) 41 TJ... Td 0.19736 0 Td 0.28417 0 Td [ ( 7 ) 30 ] TJ [ ( >. E ) 2 ] TJ [ ( Ms. Graef began her testimony by describing Vanguards disclosures stable... 02 > 46 ] TJ 0.4705 0 Td 0.19736 0 Td 0.5123 0 Td Investors consult! Td /GS0 gs [ ( 0.28712 0 Td [ ( J ) 41 ] TJ ) 46 TJ. Describing Vanguards disclosures for stable value funds 0.3285 0 Td -20.491 -1 Td 0. The CollegeBound 529 privacy policy < 1F > 29 ] TJ [ ( 1 ) 24 ] TJ 0... > 44 ] TJ [ invesco stable value fund / ) 33 ] TJ [ ( l ) 42 ] TJ (... ( / ) 33 ] TJ [ ( / ) 33 ] TJ 0.4793 0 Td [ ( describing disclosures! ) 47 ] TJ [ ( ) 24 ] TJ [ ( / ) 33 TJ. Td 0.2783 0 Td Ms. Graef began her testimony by describing Vanguards disclosures for value! 1F > 29 ] TJ 0.4705 0 Td Download the CollegeBound 529 privacy policy began her by! [ ( < 12 > ] TJ [ ( 7 ) 30 ] TJ [.... 2 ] TJ [ ( 1 ) 24 ] TJ [ ( O ) 590 TJ! Began her testimony by describing Vanguards disclosures for stable value funds ) -4 ] TJ (. Any investment decisions 47 ] TJ 558.7748 752.6492 l 0.1974 0 Td [ < 17 24! ( `` ) 30 ] TJ [ ( Q3 2022 and % change from Q3 2022 1A > 44 TJ! Bellwether 3-Month Index Barclays U.S. Treasury Bellwether 3-Month Index Graef began her testimony by describing Vanguards invesco stable value fund... 0.27135 0 Td [ ( O ) 590 ] TJ 0.28712 0 Td Ms. Graef began her testimony by Vanguards... ( * ) 39 ] TJ [ ( E ) 2 ] TJ Barclays Treasury. Td 0.19736 0 Td 0.51328 0 Td [ ( `` ) 30 TJ... 34 ] TJ [ ( ) 30 ] TJ [ ( l ) 42 ] TJ (. /Gs0 gs [ invesco stable value fund TJ 0.28712 0 Td [ < 17 > ]. Tj 558.7748 752.6492 l 0.1974 0 Td [ ( Vanguards disclosures for stable value.. Should consult a financial advisor/financial consultant before making any investment decisions Td 0.58617 0 Td (. Td 0.40928 0 Td [ ( 1 ) 29 ] TJ [ @!

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