State Street Target Retirement K (State Street Target Retirement ) fond

SSGA Funds Management, Inc. (the "Adviser" or "SSGA FM") manages the Target Retirement Fund using a proprietary asset allocation strategy. The fund is a "fund of funds" that invests in a combination of mutual funds and ETFs sponsored by the Adviser or its affiliates ("underlying funds"). Its assets are allocated among the underlying funds according to a target asset allocation strategy that emphasizes fixed income, but also includes a smaller allocation to equity and certain other asset classes.