Deferred Comp board approves asset fee holiday
On a regular basis, the Kentucky Deferred Comp board of trustees review the financial status of the Authority program and determine whether participant fees should be adjusted. At the September 23 board meeting, they elected to suspend both the participant mutual funds and Fixed Contract Fund (FCF) asset fees. The effective date of the suspension will be January 1, 2017.
The suspension will continue through June 30, 2017. The board has exercised exceptional care in the utilization of the
participant fees collected. As a result, the program is financially vibrant and in a position to temporarily forego the receipt of
additional participant asset fees.
This recent action by the Board is expected to add a total of approximately $2.7 million to participants’ accounts. This comes on
the heels of the $300,000 participant savings resulting from the implementation of the Fee Equalization provision on September 1, 2015.
For questions or more information regarding the asset fee holiday, contact Deferred Comp at 502.573.7925 or 800.542.2667.
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