(a) The investment fund options under subdivision (b) of Section 21672 may include, but not be limited to, any or all of the following:
(1) Mortgage-backed securities funds, including securities backed by California residential real estate mortgages.
(2) Equity funds.
(3) Balanced funds.
(4) Corporate bond funds.
(5) Government bond funds.
(6) Stable principal funds, including certificates of deposit and money market accounts.
(7) Guaranteed investment contracts.
(b) The board shall research any one or combination of investment options for offer to members, including the feasibility of creating an option for investment in the program established under Section 20200.