The Microsoft 401(k) Plan seeks to provide a selection of investment offerings that will reasonably allow participants to diversify their Plan portfolio, and to pursue their retirement objectives based on individual risk tolerance. For more information, review the 401(k) Investment Philosophy.

The 401(k) Administrative Committee typically reviews the Plan’s investment offerings quarterly to ensure they remain suitable for the Plan. As part of the regular fund monitoring process, the performance of each investment is compared to a recognized, appropriate industry-standard benchmark and the median performance of a peer universe of funds with similar characteristics and objectives.

The 401(k) Administrative Committee consists of three senior Microsoft executives representing HR, Tax, and Treasury, with fiduciary responsibility for the Plan and its investment offerings. The Committee draws support from the 401(k) Advisory Committee made up of employees from Finance, HR, Legal, Tax, and Treasury. Additionally, the 401(k) Administrative Committee uses the services of an outside independent professional investment advisor (currently Mercer Investment Consulting).