The UC Retirement Savings Program is reducing the fee for administrative services effective with the fourth quarter of 2020.
The UC Retirement Savings Program is experiencing lower-than-expected administrative costs and is passing the savings on to you. Effective with the fourth quarter of 2020, the fee is being reduced to $8.25 per quarter ($33 per year). The current administrative services fee is $8.75 per quarter ($35 per year).
HOW THE FEE IS PAID
The administrative services fee is deducted from your account balance each quarter. You will see the new, lower fee deduction in your account beginning January 4, 2021.
If you have more than one Retirement Savings Program account (for example, a 403(b) Plan account and a DC Plan account), you will be charged only one administrative services fee per quarter.
WHAT THE FEE COVERS
The administrative services fee covers expenses for recordkeeping services for your account(s), communications, financial education, internal UC staff support for the Plan, and other non-investment services.
WHERE TO GO FOR MORE INFORMATION
If you have questions about the fees you pay, please call a UC-dedicated workplace financial consultant at 1-800-558-9182.