Plan fees
IBEW Local Unions Savings & Security Plan fees
It’s important that members understand how investment expenses work. For the past 50 years, Scarborough has been conducting retirement workshops for IBEW members. As part of these workshops, we educate members about the impact that investment expenses have on retirement accounts. According to attendee surveys, this has been the most eye-opening feature of our workshops.
Whether you are about to retire and are looking for a place to rollover your pension and 401(k), or are years away from retirement, we encourage you to gain a better understanding of the different types of expenses associated with your investments.
The IBEW Local Unions Savings & Security Plan offers low-cost* mutual funds with no up front or deferred sales charges. 100% of your money is invested in the plan and 100% of your rollover account balance is available for withdrawal.** The plan selects only no-load mutual funds with low annual expenses.**
The expenses of the Elite Index Portfolios and the Scarborough Model Portfolios are shown in the charts below:
| Elite Index Portfolios – Total annual expenses (as of January 1, 2024) |
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| Elite Index I |
Elite Index II |
Elite Index III |
Elite Index IV |
Elite Index V |
|
| Average Investment Management Expenses1 (Vanguard, Fidelity, etc.) |
0.08% | 0.07% | 0.07% | 0.06% | 0.06% |
| Scarborough’s Personalized Advice and Managed Account Program |
0.25% | 0.25% | 0.25% | 0.25% | 0.25% |
| Administrative expenses, such as: plan administration, legal, auditing,and consulting |
0.17% | 0.17% | 0.17% | 0.17% | 0.17% |
| Total: | 0.50% | 0.49% | 0.49% | 0.48% | 0.48% |
| 1 Represents weighted average of gross expenses as disclosed in prospectus based on portfolio allocations. An annual fee of $68 is also deducted from your account to cover recordkeeping and custodial services. |
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| Scarborough Model Portfolios – Total annual expenses (as of January 1, 2024) |
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| Conservative | Conservative Growth |
Moderate Growth |
Growth | Aggressive Growth |
|
| Average Investment Management Expenses1 (Vanguard, Dodge & Cox, T. Rowe Price, etc.) |
0.35% | 0.38% | 0.41% | 0.46% | 0.45% |
| Scarborough’s Personalized Advice and Managed Account Program | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% |
| Administrative expenses, such as: plan administration, legal, auditing, |
0.17% | 0.17% | 0.17% | 0.17% | 0.17% |
| Total: | 0.77% | 0.80% | 0.83% | 0.88% | 0.87% |
| 1 Represents weighted average of gross expenses as disclosed in prospectus based on portfolio allocations. An annual fee of $68 is also deducted from your account to cover recordkeeping and custodial costs. |
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Investment management expenses for each fund can be found on the fact sheets available in Investment Options. Your actual average investment management expense will vary depending on the mix of funds you select.
Expenses matter! Click to see the dramatic impact expenses can have on your investments over time, or for a checklist to help you compare Scarborough fees to other rollover options. Of course you are invited to contact Scarborough at (800) 223-7608 if you have questions or would like more information.
*An annual asset-based fee will apply, as well as other internal expenses and fees of the funds.
**IRS penalties and restrictions may apply.