See the How Fees Affect Your Returns page for important information on the impact that fees can have on your savings over time.
| Type of Fee | May Also Be Referred to As | When Fee is Assessed |
|---|---|---|
| Front-End Load | (Maximum) Sales Charge or Load | A front-end sales load is charged at the time an investment (usually a mutual fund) is purchased. |
| Back-End Load | (Maximum) Deferred Sales Charge or LoadContingent Deferred Sales Charge (CDSC) or Load (CDSL) | A back-end sales load is charged at the time an investment (usually a mutual fund) is sold. |
| Surrender Charges | Withdrawal Charges | Surrender charges may be deducted if funds are withdrawn from an annuity within a certain period of time from when the contract was entered. |
| Loan Application Fee | A loan application fee is a one-time fee that a company may charge at the time a loan is initiated. | |
| Asset-Based Fees | Annual Fund Operating ExpensesExpense RatiosMortality and Expense Risk (M&E) Charge | Fees charged to cover regular fund operating expenses including sales and marketing costs, administrative costs, management fees, distribution fees, service fees and other expenses (visit the SEC’s Mutual Fund Fees and Expenses page for a more detailed overview of the costs included in mutual fund operating expenses). |
| Annual Fixed Dollar Fee | Administrative FeeMaintenance Fee | A fixed dollar fee is a flat fee charged at specific intervals (such as annually or quarterly) to cover administrative costs. |
| Optional Fees | “Living benefit” or “rider” fees | An optional fee is a charge associated with a product feature that may be chosen by a participant, but is not required to be purchased with the product. |
| Other Fees | Charges assessed by a 403(b) company that do not fit in any of the six specific fee categories subject to the caps established by TRS rules. |
Legal Disclaimer
Regarding 403(b) plansTRS is not authorized to offer legal or financial advice to members. The contents of this page are provided by TRS for educational and informational purposes only. It is neither intended as tax or investment advice nor does it constitute a recommendation to buy or sell any security.
TRS does not explicitly or implicitly endorse or approve any individual type of retirement plan and/or investment product offered by other retirement plans. All investing is subject to risk, including the possible loss of all the money you invest. Before investing, consider your investment objectives, risks, charges and expenses.
Questions?
Regarding Individual 403(b) ContractsPlease contact your school district, TPA or 403(b) provider directly.