Plan participants are assessed three types of fees:
- Administrative Fees
- Recordkeeping Fees
- Investment Fund Fees
- My Total Retirement (optional)
Participant Annual Administrative Fees
This information is for fees accumulated from January 1, 2024 to December 31, 2024 and charged to Plan Participants in June 2025.
For calendar year 2024, the fee for reasonable and necessary plan expenses is $557,612.
As our Retirement Plan Committee previously decided, the methodology used to calculate our assessment was changed to better reflect our values. Fees are progressive, providing lower fees to those with lower balances, as follows.
Using balance as of 12/31/2024:
- For participants with balances up to $29,999: 5 Basis Points
- For participants with balances from $30K to $99,999: 9 Basis Points
- For participants with balances from $100K to $249,999: 10 Basis Points
- For participants with balances from $250K to $499,999: 11 Basis Points
- For participants with balances from $500K to $749,999: 12 Basis Points
- For participants with balances from $750K to $999,999: 13 Basis Points
- For participants with balances from $1,000,000 and above: 14 Basis Points (Capped at $1,800)
Currently the fee structure is an asset-based fee of 4.1 basis points (bp), which is equal to 0.041% and is calculated as a percentage of the total market value of the participant’s account.
Effective October 1, 2025, the total plan recordkeeper fee will change to $48 per participant annually ($12 per quarter) but will be applied pro rata based on the total number of participants and the market value of their account. The intent of changing to a dollar-based fee is to fix fees at approximately the current level so as the market increases, fees will remain at the same level and will result in lower net fees for many participants.
Your recordkeeper fee pays for operating, administering, and servicing the plan – things like transaction processing, recordkeeping, website management, call center staffing, trust/custody services, advisory services, among other expenses associated with recordkeeping the Plan.
These fees will be reflected in the quarterly statement posted to your account online at uuaempower.com, beginning with the December 31, 2025 statement. Navigate to the right of the home page to view the I want to menu, select More > View transaction history.