Common use of Portfolio Selection Clause in Contracts

Portfolio Selection. A Participant may select one or more Age-Based Diversified Portfolio, Diversified Portfolio, Single Fund Portfolio, Principal Plus Portfolio, or NextGen Savings Portfolio investment options for Contributions made to his or her Account(s). For more information about the Portfolio options currently available, see “PORTFOLIOS-PERFORMANCE AND INVESTMENTS.” BlackRock Age-Based Diversified Portfolio iShares Age-Based Diversified Portfolio BlackRock 100% Equity Portfolio BlackRock Balanced Portfolio BlackRock Fixed Income Portfolio iShares Diversified Equity Portfolio iShares Diversified Fixed Income Portfolio BlackRock Equity Index Portfolio iShares Balanced Portfolio iShares MSCI USA ESG Select Portfolio Principal Plus Portfolio NextGen Savings Portfolio Each Account bears certain ongoing Portfolio fees, which are charged against the assets of the Portfolios, to provide for the costs associated with the distribution, servicing and administration of the Account. These Portfolio fees will reduce the value of the Account as they are incurred. Shares of Underlying Funds held by a Portfolio may be liquidated to pay Portfolio fees charged to the Portfolio. Accounts also will indirectly bear the fees and expenses, if any, of the Portfolio Investments in which the Portfolios invest.‌‌ The Portfolio fees and expenses described below are subject to change from time to time. Each Portfolio indirectly bears its proportional share of the fees and expenses incurred by the Portfolio Investments in which it invests. Each Account, except Accounts invested exclusively in the NextGen Savings Portfolio, bears certain ongoing Portfolio fees, which are charged against the assets of the Portfolios, to provide for the costs associated with the distribution, servicing and administration of the Account. The Program Manager, Program Distributor, Investment Manager and FAME do not currently charge any fees for the NextGen Savings Portfolio, but reserve the right to charge such fees in the future. With the exception of the NextGen Savings Portfolio, each Portfolio’s investment return will be net of both the fees and expenses of the Portfolio Investments and the Portfolio fees described herein.