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 $300.
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, 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.
Minimum annual fee of $25 for inactive accounts. Inactive accounts are accounts with no contributions within a calendar year.
Eligibility
To participate, the WEA Tax Sheltered Annuity Trust must be an approved vendor under your employer’s 403(b) plan.
Redemption fees
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.
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 holding requirements. WEA Member Benefits reserves the right to restrict excessive trading.
Fees current as of 6/1/15 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. To the extent you elect to invest in mutual funds as opposed to the Prudential Guaranteed Investment, you increase your risk and potential for loss. Past performance is no guarantee for future results. Future performance may be lower or higher than past performance.
Before investing in any mutual fund, call WEA Member Benefits at 1-800-279-4030 to request a prospectus. 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.
Interest is compounded daily to produce the current annual yield prior to the deduction of program administrative fees. Contributions and earnings are held in the general account of Prudential Retirement Insurance and Annuity Company (PRIAC). Principal and net credited interest are fully guaranteed by PRIAC. Such guarantees are based solely upon the financial strength and claims-paying ability of PRIAC. For more information go to weabenefits.com/pru.
Follow this link for important 403(b) disclosures.