Fees for Texa$aver Accounts
Texa$aver participants benefit by paying low group-based fees. Participants do not pay any load fees and pay low administrative. Managed account service is also available at a low cost. Additional fees include, Schwab Brokerage account, loan and other miscellaneous fees. Fees are clearly noted on your statement.
Administrative Fees
This covers the cost of Program recordkeeping expenses. Fees are assessed to the 401(k) and 457 plans separately and are based on your account balance.
Account Balance*
|
Monthly Fee per Participation per Account
|
Annualized Fee Per Participant per Account
|
$10.00 or less
|
No fees
|
No fees
|
Between $10.01 and $1,000.00
|
$1.18
|
$14.10
|
Between $1,000.01 and $16,000.00
|
$3.99
|
$47.90
|
Between $16,000.01 and $32,000.00
|
$6.32
|
$75.89
|
Between $32,000.01 and $48,000.00
|
$9.49
|
$113.83
|
Between $48,000.01 and $64,000.00
|
$12.65
|
$151.78
|
$64,000.01 and more
|
$15.81
|
$189.72
|
Roth monthly fee is $5.00 per account.
*The Program administrative fee is based on the account balance.
Managed Account Fees
The Managed Account service is an optional service for Texa$aver participants
- For each account, monthly fees are charged to the total balance.
- Fees are assessed for the calendar month, regardless of how many days your account is enrolled in the Managed Account service that month.
- Fees apply to balances in the Texa$aver Managed Account service.✢ No additional fees are charged for Online Investment Guidance or Online Investment Advice.
Additional Fees
Loan Fees
- $50 initiation fee is deducted from loan payout.
- $2.08 is deducted from the account for loan maintenance every month.
- Loan fees can be found on the quarterly statement under the Expenses section.
Schwab Personal Choice Retirement Account® (PCRA) Fees
- Transaction fees and commissions are outlined in the PCRA welcome kit.
- There is no cost to open a PCRA.
- Balances in Schwab PCRA are also assessed administrative fees.
Other Fees
- $25 fee is charged for overnight delivery of distribution checks.
- $15 fee is charged for one-time wire transfers of distributions.
