When annuity savings accounts are separate DC accounts, administrative fees can only be paid from the DC account – they cannot be paid from the pension fund. INPRS anticipates the annual administrative fee to be approximately $36. INPRS’ peers charge $50-60 per year. It is important to know that these fees are not new, rather, the source of payment is.
The INPRS Board of Trustees has approved the organizations’ fee policy but not the specific amount of the fees. Specific fee amounts are expected to be set later in 2017.