My stable value fund currently pays 4%, so much better than a high interest savings account. What does yours pay, OP?
Second the recommendation to consider holding international directly with Vanguard. We hold ours with Vanguard in a IRA, and then have a small amount of international in the 457 with a higher ER (mine is actually .61% - I think the .31% sounds pretty good) to meet the desired AA.
You may want to look into small cap/mid cap indexes or a domestic total market index as you're missing those in the 500 fund.
SVF is about 2% right now. I thought it might be best to hold a small percentage of that instead of all bonds.
I like the idea of small cap/mid cap indexes but the ER's in my plan are at 0.77 and 1.00 respectively so I did not choose them. I have a taxable account at Fidelity that is actively managed that the wife and I are taking over from the Adviser and going to either switch to Spartan or transfer to Fidelity. I will then use that account to mix up my stock allocation between Small/Mid and Total. I will re-adjust the International if need be but IMO, 0.31 is not bad and the returns have a decent history.
As for my old benchmark, my rate of return has been less than 2% for the last 3 years with my old AA (14 funds with high ER's). I am thinking this will be a better return in the long run since previous AA was almost 45% bonds. I am comfortable taking the risks with this account as I am young and the wife and I have other funds.
One thing I didn't mention is that I am in the process of finding a new job. If I get said job, I can no longer contribute to this plan and will either leave it and let it grow or roll it into an IRA (Vanguard-with better fund options) that I cannot touch until I am 59 1/2. I like having the option of withdrawing this money if needed and if in 6 months I am no longer at my current job, just seeing what happens to my money over the course of 10-20 years if fine with me.
I think it was just a strange feeling taking the plunge to doing this on my own and I wanted to see what others thought and felt when they did their portfolios by themselves for the first time.