Net Asset Value of the trust funds’ units held by the Plan at year end, is used as a practical expedient to estimate fair value. The NAV is based on the fair value of the underlying investments held by the fund less its liabilities. The Plan’s investments for which fair values are estimated using NAV per unit are summarized in the following table:
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Unfunded
Commitment |
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Redemption
Frequency |
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Other
Restrictions |
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Redemption
Notice
Period |
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Fair Value |
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2024 |
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Common collective trust funds 1 |
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Foreign Large-Blend Portfolio (BlackRock) |
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None |
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Daily |
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None |
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1 day |
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28,752 |
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U.S. Large Cap Blend Fund (BlackRock) |
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None |
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Daily |
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None |
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1 day |
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375,530 |
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Fixed Income Index Fund (BlackRock) |
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None |
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Daily |
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None |
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2 days |
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17,250 |
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LifePath Funds (BlackRock) |
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None |
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Daily |
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None |
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3 days |
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644,019 |
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1,065,551 |
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Stable Value Trust Fund (T. Rowe Price) 2 |
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None |
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Daily |
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None |
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12 months |
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39,926 |
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1,105,477 |
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Pooled funds invested primarily in other collective investment funds. |
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Pooled funds invested in guaranteed investment contracts issued by insurance companies; investments contracts issued by banks; structured or synthetic investments contracts issued by banks, insurance companies, and other issuers; separate account contracts and other similar instruments that are intended to maintain a constant NAV. |
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