; and (iii) other instruments or obligations selected by qualified professional asset managers (as defined in section 8438(a)(8) of title 5, United States Code), which return the amount invested and pay interest, at a specific rate or rates, on that amount during a specific period of time. (C) A Common Stock Index Investment Fund, as described in section 8438(b)(2) of title 5, United States Code. (D) A Small Capitalization Stock Index Investment Fund, as described in section 8438(b)(3) of title 5, United States Code. (E) An International Stock Index Investment Fund, as described in section 8438(b)(4) of title 5, United States Code. (F) A Life-Cycle Investment Fund consisting of target date asset allocation portfolios. (2) The Board may, in its discretion, provide for other investment options for participants consistent with the Board’s fiduciary duty set forth in sections 201 and 206. (3) The Board shall consult with the Investment Advisory Council before authorizing additional investment options for participants. (b) Investments (1) Investment selection The Executive Director shall invest the sums available in the Fund for investment as provided in the selection made under subsection (c). (2) Default option If a selection has not been made with respect to any sums available for investment in the Fund, the Executive Director shall invest such sums in an age-appropriate Life-Cycle Investment Fund, as determined by the Executive Director. (c) Investment selection As often as is practical, but not less than twice per year, a participant may select the investment funds and options referred to in subsection (a) into which the amounts in the Fund credited to the participant’s accounts are to be invested or reinvested. A selection may be made under this subsection only in accordance with regulations prescribed by the Executive Director and within such period as the Executive Director shall provide in such regulations, but in no event less frequently than twice a year. (d) Voting rights Participants, former participants,