About our fees
Local Unions Retirement Income Program Fees
It’s important that members understand how investment expenses work. For the past forty years, Scarborough has been conducting retirement workshops for union 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 Local Unions Retirement Income Program has no upfront sales charges or withdrawal charges. The Elite Investment option selects only no-load and load-waived mutual funds with low annual expenses*.
Elite Portfolios Total Annual Expenses
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INDEX OPTION |
HYBRID OPTION |
ACTIVE OPTION |
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| Average Investment Management Expense1 (Vanguard, Federated, Fidelity, etc.) |
0.08%-0.09% | 0.12% – 0.34% | 0.29% – 0.40% | ||
| Advisory Fee | 0.70% | 0.70% | 0.70% | ||
| Administrative Fee | 0.20% | 0.20% | 0.20% |
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| 0.98%-0.99% | 1.02% – 1.24% | 1.19% – 1.30% | |||
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1 Represents weighted average of gross expenses as disclosed in prospectus based on portfolio allocations in effect on April 2020. Allocations are subject to change through portfolio management and rebalancing. An annual fee of $35 will also apply but is waived with $100,000 or more in Elite assets. |
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All fees associated with the PlanMember Elite Portfolios and the PlanMember Direct program can be easily viewed on the Scarborough Local Unions Retirement Income Program Summary Fact Sheet.
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.
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 a copy of the current Summary Plan Description, 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.