Plan Fees
IBEW Local Unions Savings & Security Plan Fees
It’s important that members understand how investment expenses work. For the past forty 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 has no upfront sales charges or withdrawal 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.**
In the charts below, we have illustrated the differences in Plan expenses between the two portfolio options offered.
Elite Index Portfolios – Total Annual Expenses
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Elite Index I |
Elite Index II |
Elite Index III |
Elite Index IV |
Elite Index V |
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| Average Investment Management Expenses1 |
0.09% | 0.09% | 0.09% | 0.09% | 0.08% |
| Scarborough’s Fee | 0.70% | 0.70% | 0.70% | 0.70% | 0.70% |
| Bank Trustee, Recordkeeping, etc. |
0.03% | 0.03% | 0.03% | 0.03% | 0.03% |
| 0.82% | 0.82% | 0.82% | 0.82% | 0.81% | |
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1 Represents weighted average of gross expenses as disclosed in prospectus based on portfolio allocations. An annual fee of $35 is also deducted from your account for recordkeeping costs. |
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Sample Investment Mixes Total Annual Expenses
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Conservative |
Conservative Growth |
Moderate Growth |
Growth |
Aggressive Growth |
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| Average Investment Management Expenses1 |
0.41% | 0.43% | 0.45% | 0.52% | 0.46% |
| Scarborough’s Fee | 0.70% | 0.70% | 0.70% | 0.70% | 0.70% |
| Bank Trustee, Recordkeeping, etc. |
0.03% | 0.03% | 0.03% | 0.03% | 0.03% |
| 1.14% | 1.16% | 1.18% | 1.25% | 1.19% | |
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1 Represents weighted average of gross expenses as disclosed in prospectus based on portfolio allocations. An annual fee of $35 is also deducted from your account for recordkeeping 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.
*IRS penalties and restrictions may apply.
**An annual asset-based fee will apply, as well as other internal expenses and fees of the funds.
Before investing carefully read the prospectus(es) which contain information about investment objectives, risks, charges, expenses and other information, all of which should be carefully considered before investing. For current prospectus(es) call (800) 223-7608. Investing involves risk. The investment return and principal value will fluctuate and, when redeemed, the investment may be worth more or less than the original purchase price.
Asset allocation or the use of an investment advisor does not ensure a profit nor guarantee against loss.