All 403(b) products contain fees. The amount of fees varies greatly depending on the product. A slight increase in fees can substantially reduce the growth in your account which will reduce your income in retirement. To learn more about the impact of fees, and the different types of fees please refer to the Explanation of Fees piece located in the Help & Resources.
Fees
| | $30.00 | Annually | Flat Dollar Amount | Yes | No | No |
Fee WaiverThe administrative fee will be waived if your account value is $25,000 or more. If the total of all of your individually owned EQUI-VEST contracts, when added together, have a total account value that exceeds $100,000 the administrative fee will be | ||||||
| | 1.20% | Annually | Percent of Amount Invested | No | No | No |
Surrender Charges
| Surrender Period* | Surrender Percentage |
|---|---|
| 1 | 5.00% |
| 2 | 5.00% |
| 3 | 5.00% |
| 4 | 5.00% |
| 5 | 5.00% |
| 6 | 5.00% |
*Expressed in contract years
Surrender Penalty Charge assessed on a "rolling" basis: The Withdrawal charge is equal to 5% of any contribution withdrawn attributable to contributions made during the current and 5 prior contract yrs measured from the date of the withdrawal. Will no longer apply after the completion of 12 contract yrs.
Exceptions to the Surrender Charge:
Percent of contract value:
10.00%
Death:
Yes
Disability:
Yes
Financial Hardship:
Yes
Nursing Home or Other Medical Expenses:
Yes
Other Restrictions:
- 5 contract years and age 59.5- 5 contract years, age 55 and separated from service- Withdrawal of funds to purchase certain payout options- Refund of excess contribution, if the refund is requested within acceptable time frame.
