When annuity savings accounts are separate defined contribution (DC) accounts, administrative fees can only be paid from the DC account – they cannot be paid from the defined benefit fund.
The administrative fee will be $3. This fee will be charged to member accounts on a monthly basis, for an annual charge of $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.