The rates of return presented in this statement are shown net of investment manager fees. These funds commenced as of October 1, 2011. As of October 1, 2011, performance is calculated using Net Asset Values (NAV). Actual historic performance prior to October 1, 2011, does not exist. The simulated performance presented on this page, through September 30, 2011, is intended to provide you with an indication of how the funds may have performed in the past. The simulated performance is based on the composite performance of institutional accounts managed by the managers with investment strategies similar to those expected to be implemented by the managers in the funds or on the actual historical returns of the mutual fund utilized by the fund. To produce the simulated returns, the managers’ composite returns were combined in accordance with the target asset allocation and rebalanced quarterly. Past performance, whether actual or simulated, does not guarantee future results.

Quarterly Fund Performance Returns

The Crediting Rate for the PERAdvantage Capital Preservation Fund (after investment and administrative fees) from July 1, 2021 through September 30, 2021 will be 1.52%.