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 is $3. This fee is 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.
Effective Jan. 1, 2020, the INPRS DC account administrative fee will increase. For more information, please visit this page.