- What fees will I pay to participate in the MNDCP?
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 0.10% (or one-tenth of 1%) capped on the first $125,000 account balance. The maximum annual fee a participant will pay is $125. 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 $2.08 ($25,000 x .00010 ÷ 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 that is included in your quarterly statement and updated monthly under the Investments tab on this website.
- Are there restrictions or fees when I trade between my investment options?
The following investment options have restrictions and/or fees:
- T. Rowe Price Small Cap Stock Fund - The fund restricts purchases (or transfers) into the fund for a period of 30 calendar days after a withdrawal (or transfer) out of the same fund (the "30-Day Purchase Block").
- All Vanguard Funds - Participants who transfer money out of these funds are not permitted to transfer money back into the same Vanguard fund for 60 calendar days.
- Dodge & Cox Income Fund - This fund has a restriction designed to address excessive trading and market timing practices. For more details, contact an MSRS Representative at 1-800-657-5757, option3.
- SIF Stable Value Fund - You may not transfer balances directly to the SIF Money Market Fund. Balances must be transferred to another investment option and then after 90 days may be transferred to the SIF Money Market Fund.
Please consider the investment objectives, risks, fees and expenses carefully before investing. For this and other important information
you may obtain mutual fund prospectuses and disclosure documentsfrom your registered representative. For prospectuses related to investments
in your Self-Directed Brokerage (SDB) account, contactTD Ameritrade at 1-866-766-4015. Read them carefully before investing.
- If I initiate a transfer, when will my request be processed?
Transfer requests initiated prior to 3:00 PM Central Time will be processed at the close of the financial markets on that business day. Transfer requests initiated after 3:00 PM Central Time or on non-business days will be processed at the close of the financial markets on the next business day.
- How do I transfer money between different investment options in my account?
You can adjust the mix of investments in your MNDCP account at any time. Regularly reviewing your asset allocation strategy and investment options is a good idea. The MNDCP does not charge any account maintenance or trading fees; however, funds may impose their own redemption fees on certain transfers or withdrawals held for less than the required period.
To initiate a transfer, call an MSRS Representative1 at 1-800-657-5757, option 3 or log into your account 2 from this website and select Transfer My Investments under the Transactions tile.
1Representatives of GWFS Equities, Inc. are not registered investment advisors and cannot offer financial, legal or tax advice. Please consult with your financial planner, attorney and/or tax advisor as needed.
2Access to the voice response system and/or any website may be limited or unavailable during periods of peak demand, market volatility, systems upgrades/maintenance or other reasons.
- The MNDCP investment options are limited. Is there any way to invest in other options?
A Self-Directed Brokerage Account, offered through TD Ameritrade, allows you the opportunity to select from numerous mutual fund options. MNDCP will assess an additional annual administrative fee of $30 for the use of this service.
The minimum transfer amount from an MNDCP account to TD Ameritrade is $500. You must also maintain a minimum balance of $500 in your MNDCP core funds. Payroll deductions may not be invested directly to the Self-Directed Brokerage Account nor can distributions be taken directly from the Self-Directed Brokerage Account. For more information on the mutual fund options available through TD Ameritrade, please call TD Ameritrade directly at 1-866-766-4015.
Brokerage services provided by TD Ameritrade, Inc., member FINRA/SIPC/NFA.
TD Ameritrade is a trademark jointly owned by TD Ameritrade IP Company, Inc. and the Toronto-Dominion Bank. Used with permission.
Additional information can be obtained by calling TD Ameritrade at 1-866-766-4015. TD Ameritrade and GWFS Equities, Inc. are separate and unaffiliated.