U. S. Equities: Russell 3000 Index or Wilshire 5000 Index
Large Cap: Russell 1000 Index or S & P 500 Index
Mid Cap: Russell Mid-Cap Index
Small Cap: Russell 2000 Index
Non-U.S. Equities: MCSI World ex-U.S. Index
International Developed Markets: MSCI EAFE Index
Emerging Markets: MSCI Emerging Markets Free Index
Private Capital: U.S. Equity Benchmark plus a premium (e.g. 400 basis points)
Inflation Hedges: Consumer Price Index or the Higher Education Price Index (HEPI) plus a premium (e.g. 400-600 basis points)
Deflation Hedges: Lehman Long Government Bond Index
Hedge Funds: T-bills plus a premium (e.g. 400-600 basis points); an absolute total return (e.g. 8-10 percent); manager indices
U.S. Fixed Income: Lehman Aggregate Bond Index or Lehman Government/Corporate Bond Index