Fees & Expenses

Administrative Fee
Each participant shares in the cost of the services offered by the plan. The annual administrative fee is 0.65% of your account balance. This fee is prorated and deducted monthly from your account balance. The maximum annual fee is $140 per year or $11.67 per month.

Example: If you have a balance of $5,000 at the end of the month, your administrative fee for that month is $2.70 ($5,000 x .054%).

Annual Investment Expenses
The annual investment expenses are charged by the State Board of Investment (SBI) and are subject to change. This fee is deducted before the calculation of the daily price per share or the fund's performance return. The investment expenses are disclosed on the Investment Performance report.