An expense ratio is an annual fee charged by the investment manager as a percentage of your investment in the fund. The expense ratio is used to cover a fund’s operating or administrative expenses and investment management fees. The fees for the investment options on the core lineup vary by investment but are the same for all members. However, the fees for the SURS Lifetime Income Strategy are different based on your years until retirement and the percentage of your account that you secure. A fee of 0.09% to 0.18%, which covers the investment management and administrative fees, applies to the money in the non-secured portfolio during your early working years. When you begin transferring money into the Secure Income Portfolio, fees slowly increase to cover the insurance protection on your Guaranteed Income Withdrawal Amount.
To review the expense ratios for the investment lineup, please refer to the SURS Investment Lineup. To see your current and projected fees on the SURS Lifetime Income Strategy, please refer to the SURS Lifetime Income Strategy investment section through the member website at surs.org/login.