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What fees will I pay to
participate? |
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There are two types of fees:
Administrative fee - This annual fee, which is used to pay
for recordkeeping, communication, customer service and other
services provided, is 0.07 percent (or one-seventh of one percent)
capped on the first $100,000 account balance. The maximum annual fee
a participant will pay is $70. The administrative fee is deducted
from the account each month and is reflected on your quarterly
statement.
Example: If you had a balance of $25,000 at the
end of the month, your Administrative fee for that month would be
$1.46 (($25,000 x .0007 ÷ 12 months)
Operating expenses - Each investment option has an investment
management fee (known as an expense ratio) that varies by investment
option. These fees pay for trading and management expenses of the
investment provider. The fee is deducted from each investment
option's management company (not MNDCP) before the daily price per
share or calculation of the fund's performance return.
All fees are disclosed on the Performance Report
Sheet which can be found under the Investments tab on
this website.
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