Are there any fees for the investment options?
The Plan’s recordkeeping, compliance and administrative costs are paid for by participants. A per-account cost of $10.25 is assessed quarterly on all participant accounts with a total balance of $1,000 or more, regardless of how they are invested. The $10.25 charge will show as a line item on your quarterly statement.
Each of the investment options offered by the Plan has a fund operating expense. In addition, some mutual fund companies share fund revenue with the Plan’s contracted recordkeeper, Voya Financial. The fee amounts vary based on the investment option and are deducted directly from the fund’s daily price. Any revenue received by the contracted recordkeeper from the mutual fund company that is in excess of the recordkeeping costs is credited back to participant accounts and noted as a line item on your quarterly account statements. For a complete description, please refer to the fund prospectus or log into your account at nevada.beready2retire.com.
The fee structure allows participants to keep a greater proportion of their investment dollars by applying the same cost regardless of the investment options they chose. It also ensures that the cost of administering the Plan is shared equitably by all participants.