Stud Stud y y Sn Sn aps aps hot hot M M ay 2 ay 27, 7, 20 20 21 21 Asset Allocation for Public Defined Contribution Figure 2 Difference in Fund Allocations: Females vs. Males With NO Target-Date-Fund Holdings* Plans: Gender Makes a Difference About PRRL 16.3% 9.6% 6.7% 6.3% 4.0% 3.8% 3.5% 0.3% 0.4% 2.1% 1.9% 1.5% 0.9% 0.5% 0.4% 0.1% 0.5% 0.2% 0.3% 0.1% 0.0% Thanks to PRRL Partners: -0.2% -0.2% -0.2% -0.2% -0.8% -0.7% -0.5% -1.3% -1.6% -1.5% -1.6% -2.3% -2.4% -2.4% -3.5% -2.9% -2.9% -3.5% -3.9% Figure 1 -4.5% -4.7% -6.4% Difference in Fund Allocations: Females vs. Males* -9.4% Large- Cap Domestic Equity Broad International Equity Short -Term Fixed Income Stable Value/Fixed Account 20% Age 20 25 30 35 40 45 50 55 60 65 70 16.1% 15.1% 15% *A positive number denotes that females have a higher allocation than males in the same age cohort for that investment. Asset classes with de minimis differentials are not displayed. 11.2% 10% 7.0% 6.6% 5.9% 5.8% 4.2% 4.2% 5% 2.7% 2.6% 2.2% 1 … 1.8% 1.5% 2.0% 1.4% 0.7% 1.0% 0.1% 0.3% 0.0% 0.0% 0% Figure 3 -0.1% 0.0% -0.5% -0.5% -0.4% -0.2% -1.1% -1.7% -2.0% Difference in Fund Allocations: Females vs. Males With SOME Target-Date-Fund Holdings* -2.4% -2.9% -5% -4.0% -3.9% -5.0% -5.5% -5.9% -7.3% -7.4% -7.4% -8.4% -10% -9.5% -15% 8% Broad International Equity Large Cap Domestic Equity Custom Target- Date Fund Off- the Sh - elf Target -Date Fund - 6.4% 5.6% 6% 5.0% Age 5% 20 25 30 35 40 45 50 55 60 65 70 4.7% 4.5% 3.4% 3.4% 3% 4% 3.3% 3.3% 3.1% 3.1% 2.7% 2.6% 2.6% 2.3% *A positive number denotes that females have a higher allocation than males in the same age cohort for that investment. Asset classes with de minimis differentials are not displayed. 1.6% 2% 1.0% 0.8% 0.2% 0.1% 0% -0.3% -0.9% -0.9% -0.8% -1.0% -1% -1.0% -0.7% -1.3% -0.9% -2% -0.8% -1.1% -1.6% -2.2% -2.4% -2.7% -2.9% -3.1% -4% -4.3% -5% -4.8% -4.8% -6% Large Cap Domestic Equity Mid Cap Domestic Equity Cu Ta sto rge m t D Tar ate ge Fu t-Da nd C te u Fsto und m Of Taf rge -the t D -Sh ate elf Fu Tar nd O get ff th -Date e S Fhe un ld f Age 20 25 30 35 40 45 50 55 60 65 70 *A positive number denotes that females have a higher allocation than males in the same age cohort for that investment. Asset classes with de minimis differentials are not displayed.