American Funds - Changes to Fees

Notice from American Funds:

 

American Funds is committed to delivering superior retirement plan features and services to you and your participants at reasonable costs. To continue providing top-quality service, we have found it necessary to increase certain participant transaction fees. The following changes for your plan's participant transaction fees will take effect January 1, 2014:
•	Loans — Loan initiation fees will increase from $50 to $85. Annual maintenance fees will increase to $50, but only for new loans. Loans active before 2014 will retain their $25 annual maintenance fee.
•	Distributions — Single withdrawals will be assessed a new distribution fee of $25. This fee will not apply to qualified domestic relations orders. Fees for periodic payments will remain the same.

 

 

 American Funds will mail a notice about these changes to your home by December 1st.