Effective April 1, 2022, Empower officially acquired the full-service retirement business of Prudential. For more details, review the important information associated with the acquisition PDF File opens in a new window.

The Island $avings Plan provides several approaches to investing, enabling you to select the option(s) that best suits your needs. To review monthly performance on investments, view the Island Savings Investment Performance here:

Do it for me

GoalMaker: Automatic Investing

No time for—or interest in—choosing and managing your investments? Consider GoalMaker®. At no extra cost, this optional "asset allocation" program matches you with a professionally designed portfolio of Island Savings investment options based on your "investor style" (risk tolerance) and expected years to retirement.

When you sign up, GoalMaker automatically:
  • Rebalances your current account and redirects new contributions to your target mix.
  • Rebalances your account periodically to help you stay on target.

Also, if you choose the optional Age Adjustment feature, your portfolio will gradually grow more conservative as you get closer to retirement. For more information see the GoalMaker brochure. To sign up for GoalMaker, log in to your account, select GoalMaker in the "Go to..." menu and follow the directions. Please see important information for details.

Vanguard Target Retirement Trusts II
Vanguard Target Retirement Trusts II is a diversified solution that is built using four (4) or five (5) of Vanguard's broad-based index funds that cover all major worldwide asset classes. There are twelve (12) investments offered in five-year increments at a low cost of 7.5 basis points (0.075%) that are professionally managed and are automatically rebalanced to become more conservative closer to retirement. In choosing an age-appropriate target retirement investment, consider selecting one that corresponds to your year of birth. You may choose the investment with an underlying portfolio that best fits your years to retirement and investment goals, and which targets your anticipated retirement date.

Vanguard Target Retirement Trusts II

    More information on the Vanguard Target Retirement Trusts II is available in the Plan Highlights brochure and the Vanguard Target Retirement Trusts II brochure.

    Investment advice–Managed by Morningstar
    Morningstar® Retirement ManagerSM offers professional investment management along with a range or resources, research, and educational support that are accessible and actionable.

    There are two levels of service available:

    Managed Accounts–This solution is designed for participants who want professional account management, but lack the time or expertise to manage their own account. For an additional fee (0.35% of your account value), you will get hands-on, professional investment management, including an account review, personalized strategy, and professional guidance, including specific recommendations, from an asset manager with Morningstar Associates.

    Investment Advice–This solution offers a wide range of resources, research, and educational support to help participants make informed decisions about their accounts. This option is designed for a participant who wants to play an active role in managing their own plan account, but is looking for a second opinion about his or her investments.
    Sign up for either option through your online account or by contacting a Retirement Education Counselor.

    Do it yourself

    Core Investment Options
    Click each fund name for details on strategy, holdings, and performance. For help, review the Fund Fact Sheet User's Guide.

    • Stable Value
    • Fixed Income
    • Balanced
    • Large-Cap Stock
    • Small/Mid-Cap Stock
    • Global/International Stock

    * Registered mutual fund

    Self-Directed Brokerage (SDB) Account
    If you're a seasoned investor, the Island $avings Plan gives you access to a Self-Directed Brokerage Account. This option enables you to invest in a broad range of mutual funds that you'll find in the Island $avings Plan, along with individual stocks, bonds and, other securities. There's a $2,000 minimum balance to open an SDB account, and other account fees—and as with any account you will be responsible for any fees charged by the investments you choose. If you're interested, please see the information below.

    Plan and investment fees

    The Island $avings Plan charges 0.075% of your account balance to help cover the costs of plan administration, and recordkeeping; this fee is deducted quarterly from your account balance. In addition, each investment option charges a fee ("expense ratios") charged by the Plan's investment providers to cover their funds' operating costs. Also, investors in the Self-Directed Brokerage Account may incur fees for the service as well as charges levied by investments they hold within the account.


    All investing involves various risks including the possible loss of principal. You can lose money by investing in securities. The target date is the approximate date when investors plan to retire and may begin withdrawing their money. The asset allocation of the target-date funds will become more conservative as the target date approaches by lessening the equity exposure and increasing the exposure in fixed income-type investments. The principal value of an investment in a target-date fund is not guaranteed at any time, including the target date. There is no guarantee that the fund will provide adequate retirement income. A target-date fund should not be selected based solely on age or retirement date. Participants should carefully consider the investment objectives, risks, charges and, expenses of any fund before investing. Funds are not guaranteed investments and the stated asset allocation may be subject to change. You can lose money by investing in securities, including losses near and following retirement.

    GoalMaker's model allocations are based on generally accepted financial theories that take into account the historic returns of different asset classes. But, of course, past performance of any investment does not guarantee future results. Participants should consider their other assets, income, and investments (e.g., equity in a home, Social Security benefits, individual retirement plan investments, etc.) in addition to their interest in the plan, to the extent those items are not taken into account in the model. Participants should also periodically reassess their GoalMaker investments to make sure their model portfolio continues to correspond to their changing attitudes and retirement time horizon.

    Carefully consider the investment option’s objectives, risks, fees and expenses. Contact Empower for a prospectus, summary prospectus for SEC-registered products or disclosure document for unregistered products, if available, containing this information. Read each carefully before investing.

    Securities, when presented, are offered and/or distributed by Empower Financial Services, Inc., Member FINRAopens in new window/SIPCopens in new window. EFSI is an affiliate of Empower Retirement, LLC; Empower Funds, Inc.; and registered investment adviser Empower Advisory Group, LLC. Brokerage services such as clearing, settlement, custody and other similar functions are provided by NFS, Member FINRA/NYSE/SIPC. Additional information may be obtained by calling 888-244-6237. EFSI and NFS are separate, unaffiliated brokerage firms. Brokerage accounts are subject to EFSI review and approval. This material is for informational purposes only and is not intended to provide investment, legal, advice or tax recommendations.

    Shares of the registered mutual funds offered through Prudential Investment Management Services LLC (PIMS), Newark, NJ, a Prudential Financial company.

    Morningstar Investment Management LLC is a registered investment adviser and a subsidiary of Morningstar, Inc. Morningstar Investment Management LLC and Morningstar, Inc. are not affiliated with Empower Retirement, LLC; its parent company, Empower Annuity Insurance Company of America (EAIC); or any other EAIC-affiliated companies and/or subsidiaries.

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    The State of Hawaii Board of Trustees and the State Deferred Compensation Plan are not responsible for and do not have oversight over the content or materials on this website.

    Retirement counselors are registered with Empower Financial Services, Inc., Member FINRAopens in new window/SIPCopens in new window. EFSI is an affiliate of Empower Retirement, LLC; Empower Funds, Inc.; and registered investment adviser Empower Advisory Group, LLC.

    This material is for informational purposes only and is not intended to provide investment, legal or tax recommendations or advice.

    Retirement products and services are provided by Empower Annuity Insurance Company, Hartford, CT, or its affiliates.

    "EMPOWER" and all associated logos, and product names are trademarks of Empower Annuity Insurance Company of America.

    ©2023 Empower Retirement, LLC. All rights reserved.

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