Many mutual fund companies pay reimbursements to the Plan for administrative functions they would normally perform themselves. Reimbursements are credited to participant accounts shortly after they are received.
Participants should not choose an investment option based on reimbursements. Funds that do not pay reimbursements may have lower expenses than those that do.
For a list of all investment options’ gross investment management fees, contractual administrative reimbursements and net investment management fees, please review the Fee Transparency brochure.
For more information about the available investment options, please consult a fact sheet or fund prospectus. Fund prospectuses and additional information relating to your retirement plan can be obtained by contacting us. Before investing, carefully consider the fund’s investment objectives, risks, charges and expenses. The fact sheets and fund prospectuses contain this and other important information. Read them carefully before investing.
Administrative expenses are funded by participant fees and interest income earned on trust accounts of the Plan.
Details of Participant Fee:
- A combination of a $20 annual fee, paid in two $10 semiannual installments, and an asset-based fee calculated on a percentage of the participant’s account balance.
- The asset based fee only applies to accounts with balances over $20,000.
- The asset based fee is capped at $200,000 (These fees are subject to change).
- Deducted from accounts in April and October.
- Will be deducted pro-rata from each of the participant’s investment options.
- Account balances include outstanding loan balances and the Schwab PCRA Self Directed Investment Account.
The Board has and will continue to control Plan expenses and maximize value to participants. Each of the mutual funds offered by the Plan has a fund operating expense that is deducted directly from the fund’s daily price.
Some mutual funds may impose a short-term trade fee. Some funds may be subject to a trade restriction policy. Please read the underlying prospectuses carefully.
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Talk to your Account Executive if you need help or have questions.