Stress Testing. The Trustee will test the Fund’s ability to maintain a stable net asset value by conducting periodic stress testing, at least on a calendar month basis and at such intervals as an independent risk manager or a committee responsible for the Fund’s oversight that consists of members independent from the Fund’s investment management (the “Committee”) determines appropriate and reasonable in light of current market conditions. Stress testing shall be based upon hypothetical events that include, but are not limited to, a change in short-term interest rates, an increase in Participating Plan redemptions, a downgrade of or default on portfolio securities, and the widening or narrowing of spreads between yields on an appropriate benchmark the Fund has selected for overnight interest rates and commercial paper and other types of securities held by the Fund.
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