Fees
Administrative fees
You will pay a quarterly administrative fee of 0.0875% of your average quarterly account balance, which works out to the equivalent of 0.35% of your average annual account balance.
The maximum administrative fee you can pay per calendar year is $500.
The 403(b) tax-sheltered annuity (TSA) program at WEA Member Benefits assesses no other fees…there are no sales loads, no mortality charges, no contribution fees, and no surrender charges or withdrawal fees of any type. However, certain product fees described below may apply.
An annual minimum fee of $25 applies to inactive accounts (accounts with no annual contributions).
Product fees
If you are invested in mutual funds, you will pay mutual fund management fees assessed by the individual mutual fund companies in which you are invested.
The mutual funds offered by WEA Member Benefits may charge a redemption fee. The fees are applied to shares that are acquired through purchases, including, but not limited to, contributions, trades, exchanges, transfers, and rollovers, and the subsequent sale occurring within the specified time frame. For more information about redemption fees, please refer to the mutual fund prospectus.
Interest is compounded daily to produce a yield net of
Prudential's administrative fee of 0.60%. PRIAC is compensated in connection
with this product by deducting an amount for investment expenses and risk from
the investment experience of certain assets held in PRIAC's general account. All earnings on investments are credited gross of 403(b) and IRA
program fees. The Prudential Guaranteed
Investment is a group annuity insurance
product issued by Prudential Retirement Insurance and Annuity Company (PRIAC).
Amounts contributed to the contract are deposited in PRIAC's general account.
Payment obligations and the fulfillment of any guarantees specified in the
group annuity contract are insurance claims supported by the full faith and
credit of PRIAC. PRIAC periodically resets the interest rate credited on
contract balances, subject to a minimum rate specified in the group annuity
contract and subject to change. Past interest rates are not indicative of
future rates. Participant Level Protections (PLPs) are in place to help
preserve the guarantee of the fund. PLPs may limit your ability to
withdraw funds from the fund. For more information on the PLPs and how it
may affect your account, please reference the Prudential Guaranteed Investment
PLP question and answer sheet or by calling Retirement and Investment Services
at 1-800-279-4030, Extension 8568.
Eligibility
To participate, the WEA Tax Sheltered Annuity Trust must be an approved vendor under your employer’s 403(b) plan.
Additional information
Trades are movements within a WEA Tax Sheltered Annuity Trust account, of existing fund balances between the Prudential Guaranteed Investment and a mutual fund investment or between mutual funds.
We are unable to process any part of a trade request that attempts to trade shares that do not meet the applicable holding requirements. WEA Member Benefits reserves the right to restrict
excessive trading.
Fees current as of February 13, 2018, and are subject to change. If fees change, you will be given a 30-day notice.
Important disclosures
Keep in mind that mutual fund investments are not guaranteed and may gain or lose value. Past performance is no guarantee for future results. Future performance may be lower or higher than past performance.
Before investing in any mutual fund, visit weabenefits.com/investments to view a prospectus or call WEA Member Benefits at 1-800-279-4030 to request one. We advise you to read it carefully and consider the fund’s investment objectives, risks, and charges and expenses carefully before investing. The prospectus contains this and other information about the investment company.
The Prudential Guaranteed Investment is a group annuity product issued by Prudential Retirement Insurance and Annuity Company (PRIAC).
Follow this link for important 403(b) disclosures.