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)

Notes: 
A basis point is 1/100th of 1% (0.01% or 0.0001).