U.S. Large Stock Index Fund

Fund Objective

The U.S. Large Stock Index Fund seeks to replicate the returns and characteristics of the S&P 500 Index.

Investment Strategy

The S&P 500 Index is a broad-based index comprised of 500 common stocks representing 62 industries and over 80 percent of the capitalization of the U.S. equity market. Using a replication process, each security for the fund is purchased in the same sector weightings as it appears in the S&P 500 Index. Replication usually results in low turnover, accurate tracking and low costs. The strategy is to buy and hold securities, trading only when there is a change to the make-up of the index or when cash flow activity occurs in the fund. To provide 100 percent equity exposure, the fund maintains a small (generally less than 5 percent) position in S&P 500 stock index futures contracts. Futures enable better tracking of index returns and allow for greater fund liquidity.

Investment Risk

The U.S. Large Stock Index Fund is intended for members who want an investment designed to parallel the returns of the S&P 500 index. It is intended as a long-term investment vehicle due to the volatility of returns on common stocks over short-term periods.

Investment Manager

The U.S. Large Stock Index Fund is provided by the WSIB and managed by BlackRock Institutional Trust Company (BTC).

Investment Restrictions

Once a member has transferred money out of the fund, he or she will not be allowed to transfer money back into the same fund for thirty calendar days. The thirty day window will be based on the last time the member made a transfer out of the fund. This restriction will not affect the member’s regular contribution or the ability to leave state service and withdraw from Plan 3. For additional information, please refer to page 2 of the Plan 3 Investment Guide.

* Historic performance is not necessarily indicative of actual future investment performance, which could differ substantially. All performance figures contained herein are provided net of management fees and other expenses but before the WSIB and record keeper expenses. All returns are calculated in U.S. dollars.

** Other expenses are as of March 31, 2009. Expenses include the operating costs associated with portfolio management and items such as custodial fees, audit fees and transfer agent fees. They are usually fixed costs and change in percentage as the fund balance changes..

Fees are calculated based upon your daily account balance.

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