Investment advice offered through IFP Advisors, LLC dba Independent Financial Partners (IFP), a Registered Investment
Provider Renegotiation Summary
June 2020
Prepared for:
Montgomery Retirement Plan Advisors
14502 N Dale Mabry Hwy, Suite 328
Tampa, FL 33618
(813) 909.9305 [Main]
info@m-rpa.com [Email]
www.m-rpa.com
Collier County
RFP Minimum Requirements
Per RFP – page 6
“The following must be certified as baseline eligibility for submission compliance of a proposal pursuit to this request. Please
provide this information using the Certification found as Attachment A – Minimum Requirement Certification.”
1. Currently recordkeeping at least $1 Billion of government entity defined contribution (401(a) / 457(b))
assets from a minimum of 20 distinct government plan sponsors.
2. Full open architecture investment platform.
3. Availability of a wide range of zero revenue funds.
4. Establishment of a fixed revenue requirement fee structure, with any potential excess revenue credited
back to the plan at the fund and participant level.
5. Utilization of plan sponsor directed group (versus individual) contracts
6. No Deferred Sales Charges or similar contract termination penalties at the plan or participant level
(investment-level market value adjustments, redemption fees, puts, and installment payouts are not
expressly prohibited).
7. Contract termination for convenience, without cause, with thirty (30) day written notice.
8. Participation in the Retirement Plan Advisory Group (RPAG) database. Many retirement plan providers
participate in the RPAG database and the information in this database will be used by the County in
evaluation of submittals.
9. A minimum of 28 days annually of on-site employee meetings conducted by qualified education
Summary Analysis – Renegotiation Offers from Nationwide & ICMA-RC
CURRENT
RFP Offer
(Single-Provider)
Renegotiated Offer (Multi-Provider)
CURRENT
RFP Offer
(Single-Provider)
Renegotiated Offer (Multi-Provider)
Agree to RFP Minimum
Requirements
✔
✔
2
Net Investment Expense
0.29%
0.18%
1
0.49%
0.24%
Revenue Requirement
0.46%
0.065%
0.09%
0.51%
0.059%
0.129%
Total Cost
0.75%
0.27%
1
1.00%
0.37%
Total Cost ($)
$308,884
$109,959
$250,087
$91,944
Capital Preservation Option
Capital Preservation Option
Crediting Rate
Capital Preservation Option
Exit Provisions
Capital Preservation Option
Transfer Restrictions
20% annual transfer limitation, no
transfer to competing investment
Contract Termination Provisions
(in addition to capital preservation
option exit provisions)
At will with 120 day notification
Unclear in Service Agreement
Additional Comments
& Pricing Conditions
2. ICMA-RC agrees to all RFP minimum requirements with the exception of the 28 days of on-site employee education support. They instead are offering 12 days.
Unclear but assume would remain at will with 120 day
notification
5-year contract with at will termination
3.38%
Crediting Rate for Q2 2020
(see below for GMIR and minimum crediting rate multiple tier down schedule)
MVA or 60-month spread payout
(not benefit sensitive during 60-month payout )
Fully Liquid, no transfer to competing investment.
(this is an enhanced offer)
12 month put
1. Due to the "spread-pay" nature of the Nationwide Guaranteed Fund, Nationwide does not disclose the expense or revenue generated from that investment. This analysis assumes 0.00% expense and 0.00% revenue associated with the Guaranteed Fund which is not entirely accurate as
is does not reflect all revenue Nationwide recieves. In the new offer, Nationwide would assess their 0.09% fee against assets invested in the Nationwide Guaranteed Fund which would result in a more equitable fee arrangement. The Total Cost calculations includes the 0.09% fee assessed
to the Nationwide Guaranteed Fund.
Fees shown do not include the fiduciary advisor fee of paid to Montgomery Retirement Plan Advisors, which is currently paid by the County separately. Best efforts were made to obtain and present accurate information. Provider services, fees, and capabilities are subject are subject to
change and cannot be guaranteed now or in the future. Fees and services are subject to change at any time. Contact provider for actual pricing and terms. Final pricing, services, and contractual provisions are at the sole discretion of each plan provider.
NATIONWIDE
ICMA-RC
ICMA-RC Vantagepoint PLUS Fund
2.26%
Crediting Rate as of 3/31/20
Nationwide Guaranteed Fund
(1) Assumes continued use of the Nationwide Guaranteed Fund. Use of non-proprietary capital
preservation option would carry a higher 0.25% revenue requirement in addition to any additional cost to
absorb a negative market value adjustment (MVA) if applicable.
(2) Includes 28 days of on-site employee education.
(1) Assumes continued use of the ICMA-RC Vantagepoint PLUS Fund. ICMA-RC did not offer pricing
for use of non-proprietary capital preservation option.
(2) Includes 12 days of on-site employee education, less than 28 days requested.
Nationwide Cost Analysis & Sample Mapping
Fund Name Asset Class
Score 3Q19 Assets (12/31/19) Expense Ratio (%) NW Admin Fee(%) Total Cost (%) Total Cost ($) Revenue Sharing (%) NW Admin Fee(%) Total Revenue (%) Total
Revenue (%) Fund Name
Asset Class Score 1Q20 Expense Ratio (%) NW Fee(%) Total Cost (%) Total Cost ($) NW Fee (%) Total Revenue ($)
Nationwide Destination Ret Instl Svc Target Date Fund 8 $35,497 0.63% 0.60% 1.23% $437 0.25% 0.60% 0.85% $302 BlackRock LifePath Index Retire K TDF 8 0.09% 0.09% 0.18% $64 0.09% $32 Nationwide Destination 2020 Instl Svc Target Date Fund 8 $59,607 0.64% 0.60% 1.24% $739 0.25% 0.60% 0.85% $507 BlackRock LifePath Index Retire K TDF 8 0.09% 0.09% 0.18% $107 0.09% $54 Nationwide Destination 2025 Instl Svc Target Date Fund 8 $702,515 0.65% 0.60% 1.25% $8,781 0.25% 0.60% 0.85% $5,971 BlackRock LifePath Index 2025 K TDF 9 0.09% 0.09% 0.18% $1,265 0.09% $632 Nationwide Destination 2030 Instl Svc Target Date Fund 7 $223,608 0.66% 0.60% 1.26% $2,817 0.25% 0.60% 0.85% $1,901 BlackRock LifePath Index 2030 K TDF 9 0.09% 0.09% 0.18% $402 0.09% $201 Nationwide Destination 2035 Instl Svc Target Date Fund 7 $29,199 0.66% 0.60% 1.26% $368 0.25% 0.60% 0.85% $248 BlackRock LifePath Index 2035 K TDF 8 0.09% 0.09% 0.18% $53 0.09% $26 Nationwide Destination 2040 Instl Svc Target Date Fund 7 $213,970 0.65% 0.60% 1.25% $2,675 0.25% 0.60% 0.85% $1,819 BlackRock LifePath Index 2040 K TDF 8 0.09% 0.09% 0.18% $385 0.09% $193 Nationwide Destination 2045 Instl Svc Target Date Fund 7 $14,213 0.66% 0.60% 1.26% $179 0.25% 0.60% 0.85% $121 BlackRock LifePath Index 2045 K TDF 8 0.09% 0.09% 0.18% $26 0.09% $13 Nationwide Destination 2050 Instl Svc Target Date Fund 8 $10,230 0.66% 0.60% 1.26% $129 0.25% 0.60% 0.85% $87 BlackRock LifePath Index 2050 K TDF 8 0.09% 0.09% 0.18% $18 0.09% $9 Nationwide Destination 2055 Instl Svc Target Date Fund 8 $849 0.65% 0.60% 1.25% $11 0.25% 0.60% 0.85% $7 BlackRock LifePath Index 2055 K TDF 8 0.09% 0.09% 0.18% $2 0.09% $1 Nationwide Destination 2060 Instl Svc Target Date Fund - $12,996 0.65% 0.60% 1.25% $162 0.25% 0.60% 0.85% $110 BlackRock LifePath Index 2060 K TDF - 0.09% 0.09% 0.18% $23 0.09% $12 Nationwide Inv Dest Conservative Svc Target Risk Fund 6 $254,490 0.88% 0.25% 1.13% $2,876 0.40% 0.25% 0.65% $1,654 BlackRock LifePath Index TDF series K TDF 9 0.09% 0.09% 0.18% $458 0.09% $229 Nationwide Inv Dest Moderate Conservative Svc Target Risk Fund 6 $192,948 0.90% 0.25% 1.15% $2,219 0.40% 0.25% 0.65% $1,254 BlackRock LifePath Index TDF series K TDF 9 0.09% 0.09% 0.18% $347 0.09% $174 Nationwide Inv Dest Moderate Svc Target Risk Fund 7 $1,154,146 0.91% 0.25% 1.16% $13,388 0.40% 0.25% 0.65% $7,502 BlackRock LifePath Index TDF series K TDF 9 0.09% 0.09% 0.18% $2,077 0.09% $1,039 Nationwide Inv Dest Moderate Aggressive Svc Target Risk Fund 7 $1,421,780 0.95% 0.25% 1.20% $17,061 0.40% 0.25% 0.65% $9,242 BlackRock LifePath Index TDF series K TDF 9 0.09% 0.09% 0.18% $2,559 0.09% $1,280 Nationwide Inv Dest Aggressive Svc Target Risk Fund 7 $868,847 0.94% 0.25% 1.19% $10,339 0.40% 0.25% 0.65% $5,648 BlackRock LifePath Index TDF series K TDF 9 0.09% 0.09% 0.18% $1,564 0.09% $782 Fidelity Puritan Balanced 4 $738,121 0.54% 0.65% 1.19% $8,784 0.25% 0.65% 0.90% $6,643 Janus Henderson Balanced N BAL 9 0.57% 0.09% 0.66% $4,872 0.09% $664 American Century Value Inv Large Cap Value 5 $603,726 0.97% 0.40% 1.37% $8,271 0.35% 0.40% 0.75% $4,528 Vanguard Equity-Income Adm LCV 10 0.18% 0.09% 0.27% $1,630 0.09% $543 Edgar Lomax Value Large Cap Value 10 $123,116 0.70% 0.40% 1.10% $1,354 0.40% 0.40% 0.80% $985 Vanguard Equity-Income Adm LCV 10 0.18% 0.09% 0.27% $332 0.09% $111 Invesco Growth and Income A Large Cap Value 7 $995,805 0.80% 0.40% 1.20% $11,950 0.50% 0.40% 0.90% $8,962 Vanguard Equity-Income Adm LCV 10 0.18% 0.09% 0.27% $2,689 0.09% $896 American Funds Investment Co of America A Large Cap Blend 8 $545,560 0.57% 0.65% 1.22% $6,656 0.25% 0.65% 0.90% $4,910 Fidelity 500 Index LCB-P 10 0.02% 0.09% 0.11% $573 0.09% $491 Nationwide Institutional Service Large Cap Blend 6 $472,119 0.69% 0.40% 1.09% $5,146 0.35% 0.40% 0.75% $3,541 Fidelity 500 Index LCB-P 10 0.02% 0.09% 0.11% $496 0.09% $425 Nationwide S&P 500 Index InSvc Large Cap Blend Index 10 $679,497 0.41% 0.40% 0.81% $5,504 0.25% 0.40% 0.65% $4,417 Fidelity 500 Index LCB-P 10 0.02% 0.09% 0.11% $713 0.09% $612 SEI S&P 500 Index E (SIMT) Large Cap Blend Index 10 $600,122 0.25% 0.65% 0.90% $5,401 0.00% 0.65% 0.65% $3,901 Fidelity 500 Index LCB-P 10 0.02% 0.09% 0.11% $630 0.09% $540 Fidelity Contrafund Large Cap Growth 8 $1,984,002 0.82% 0.65% 1.47% $29,165 0.25% 0.65% 0.90% $17,856 T. Rowe Price Blue Chip Growth I LCG 10 0.57% 0.09% 0.66% $13,094 0.09% $1,786 Fidelity OTC Large Cap Growth 8 $1,496,115 0.88% 0.65% 1.53% $22,891 0.25% 0.65% 0.90% $13,465 T. Rowe Price Blue Chip Growth I LCG 10 0.57% 0.09% 0.66% $9,874 0.09% $1,347 Nationwide Large Cap Growth Large Cap Growth 5 $467,966 0.95% 0.40% 1.35% $6,318 0.45% 0.40% 0.85% $3,978 T. Rowe Price Blue Chip Growth I LCG 10 0.57% 0.09% 0.66% $3,089 0.09% $421 Nationwide Loomis All Cap Growth Eagle Large Cap Growth - $362,285 0.95% 0.40% 1.35% $4,891 0.40% 0.40% 0.80% $2,898 T. Rowe Price Blue Chip Growth I LCG 10 0.57% 0.09% 0.66% $2,391 0.09% $326 Neuberger Berman Sustainable Equity Inv Large Cap Growth 6 $40,127 0.86% 0.40% 1.26% $506 0.30% 0.40% 0.70% $281 T. Rowe Price Blue Chip Growth I LCG 10 0.57% 0.09% 0.66% $265 0.09% $36 T. Rowe Price Growth Stock Adv Large Cap Growth 7 $781,399 0.92% 0.40% 1.32% $10,314 0.40% 0.40% 0.80% $6,251 T. Rowe Price Blue Chip Growth I LCG 10 0.57% 0.09% 0.66% $5,157 0.09% $703 JPMorgan Mid Cap Value A Mid Cap Blend 7 $375,476 1.24% 0.40% 1.64% $6,158 0.50% 0.40% 0.90% $3,379 Fidelity Mid Cap Index MCB-P 10 0.03% 0.09% 0.12% $432 0.09% $338 Nationwide Mid Cap Market Index A Mid Cap Blend Index 8 $424,934 0.67% 0.40% 1.07% $4,547 0.40% 0.40% 0.80% $3,399 Fidelity Mid Cap Index MCB-P 10 0.03% 0.09% 0.12% $489 0.09% $382 Wells Fargo Discovery Admin SMid Cap Growth 10 $461,905 1.13% 0.40% 1.53% $7,067 0.35% 0.40% 0.75% $3,464 Fidelity Mid Cap Index MCB-P 10 0.03% 0.09% 0.12% $531 0.09% $416 Nationwide US Small Cap Value Instl Svc Small Cap Value 5 $148,090 1.23% 0.40% 1.63% $2,414 0.40% 0.40% 0.80% $1,185 Wells Fargo Special Small Cap Value R6 SCV 10 0.84% 0.09% 0.93% $1,377 0.09% $133 Nationwide Small Cap Index A Small Cap Blend Index 10 $148,393 0.69% 0.40% 1.09% $1,617 0.40% 0.40% 0.80% $1,187 Fidelity Small Cap Index SCB-P 10 0.03% 0.09% 0.12% $171 0.09% $134 NVIT Multi-Manager Small Company I Small Cap Blend 10 $12,650 1.09% 0.40% 1.49% $188 0.40% 0.40% 0.80% $101 Fidelity Small Cap Index SCB-P 10 0.03% 0.09% 0.12% $15 0.09% $11 Nationwide Small Company Growth InSvc Small Cap Growth 9 $729,852 1.19% 0.40% 1.59% $11,605 0.35% 0.40% 0.75% $5,474 JPMorgan Small Cap Growth R6 SCG 10 0.74% 0.09% 0.83% $6,058 0.09% $657 Neuberger Berman Genesis Tr Small Cap Growth 7 $453,773 1.10% 0.40% 1.50% $6,807 0.40% 0.40% 0.80% $3,630 JPMorgan Small Cap Growth R6 SCG 10 0.74% 0.09% 0.83% $3,766 0.09% $408 Cohen & Steers Real Estate Securities A Real Estate 10 $383,414 1.15% 0.40% 1.55% $5,943 0.40% 0.40% 0.80% $3,067 DFA Real Estate Securities I REI 10 0.18% 0.09% 0.27% $1,035 0.09% $345 Nationwide International Index A International Large Cap Index 10 $133,739 0.71% 0.40% 1.11% $1,485 0.40% 0.40% 0.80% $1,070 Fidelity Total International Index IE-P 10 0.06% 0.09% 0.15% $201 0.09% $120 Nationwide AllianzGI International Growth InSvc International Equity - $608,788 0.97% 0.40% 1.37% $8,340 0.25% 0.40% 0.65% $3,957 Fidelity Total International Index IE-P 10 0.06% 0.09% 0.15% $913 0.09% $548 MFS International Intrinsic Value R3 International Large Cap 10 $722,164 0.98% 0.60% 1.58% $11,410 0.50% 0.60% 1.10% $7,944 Fidelity Advisor Intl Capital Appreciation Z ILCG 10 0.87% 0.09% 0.96% $6,933 0.09% $650 Invesco Oppenheimer Global A Global Equity 7 $416,209 1.12% 0.40% 1.52% $6,326 0.45% 0.40% 0.85% $3,538 American Funds New Perspective R6 GE 9 0.42% 0.09% 0.51% $2,123 0.09% $375 American Funds New World R4 Emerging Market Equity 10 $314,009 0.98% 0.40% 1.38% $4,333 0.35% 0.40% 0.75% $2,355 American Funds New World R6 EME 10 0.60% 0.09% 0.69% $2,167 0.09% $283 Nationwide Bond Index A Core Fixed Income Index 9 $394,504 0.65% 0.60% 1.25% $4,931 0.40% 0.60% 1.00% $3,945 Fidelity US Bond Index CFI-P 10 0.03% 0.09% 0.12% $454 0.09% $355 Nationwide Loomis Core Bond Instl Svc Core Fixed Income 8 $1,112,299 0.74% 0.40% 1.14% $12,680 0.40% 0.40% 0.80% $8,898 Loomis Sayles Core Plus Bond N CFI 9 0.39% 0.09% 0.48% $5,339 0.09% $1,001 PIMCO International Bond (USD-Hedged) A Global Fixed Income 8 $719,627 0.95% 0.40% 1.35% $9,715 0.40% 0.40% 0.80% $5,757 Loomis Sayles Core Plus Bond N CFI 9 0.39% 0.09% 0.48% $3,454 0.09% $648 Lord Abbett High Yield R5 High Yield 10 $377,517 0.70% 0.40% 1.10% $4,153 0.35% 0.40% 0.75% $2,831 PGIM High Yield R6 HY 10 0.40% 0.09% 0.49% $1,850 0.09% $340 MFS High Income A High Yield 6 $250,582 0.95% 0.40% 1.35% $3,383 0.40% 0.40% 0.80% $2,005 PGIM High Yield R6 HY 10 0.40% 0.09% 0.49% $1,228 0.09% $226 Invesco Oppenheimer Limited-Term Gov Y Short Government 10 $68,741 0.50% 0.65% 1.15% $791 0.25% 0.65% 0.90% $619 Nationwide Fixed Account 1,2 GIC
-ND1 0.09%
ND1 $62 0.09% $62
Invesco Short-Term Inv Treasury Instl Money Market - $225,021 0.18% 0.65% 0.83% $1,868 0.00% 0.65% 0.65% $1,463 Nationwide Fixed Account 1,2
GIC - ND1
0.09% ND1
$203 0.09% $203 Nationwide Government Money Market Prime Money Market - $382,889 0.58% 0.40% 0.98% $3,752 0.40% 0.40% 0.80% $3,063 Nationwide Fixed Account 1,2 GIC - ND1 0.09% ND1 $345 0.09% $345
Nationwide Fixed Account 1 Capital Preservation - $17,399,609
ND1 ND1 ND1 ND1 ND1 ND1 ND1 ND1
Nationwide Fixed Account 1,2 GIC
-ND1 0.09%
ND1 $15,660 0.09% $15,660
Total $41,349,043 0.75% $308,844 0.46% $191,320 0.27% $109,959 0.09% $37,214
2. In the new offer, Nationwide would assess their 0.09% fee against assets invested in the Nationwide Fixed Account which would result in a more equitable fee arrangement. The Total Cost calculations includes the 0.09% fee assessed to the Nationwide Fixed Account.
Best efforts were made to obtain and present accurate information. Provider services, fees, and capabilities are subject are subject to change and cannot be guaranteed now or in the future. Fees and services are subject to change at any time. Contact provider for actual pricing and terms. Final pricing, services, and contractual provisions are at the sole discretion of each plan provider.
Current Nationwide Program Cost Analysis
Renegotiated Nationwide Offer Cost Analysis
Expense & Revenue Expense & Revenue
ICMA-RC Cost Analysis & Sample Mapping
Fund Name Asset Class
Score 3Q19 Assets (12/31/19) Expense Ratio (%) Total Cost ($) Revenue Sharing (%) Total
Revenue ($) Fund Name
Asset Class Score 1Q20 Expense Ratio (%) ICMA-RC Fee (%) Total Cost (%) Total Cost ($) ICMA-RC Fee (%) Total Revenue ($) Vantagepoint Milestone Retirement Income R3 Target Date Fund 5 $401,838 0.95% $3,817 0.54% $2,170 BlackRock LifePath Index Retire K TDF 8 0.09% 0.129% 0.219% $880 0.129% $518 Vantagepoint Milestone 2015 R3 Target Date Fund 6 $1,018,324 0.99% $10,081 0.54% $5,499 BlackRock LifePath Index Retire K TDF 8 0.09% 0.129% 0.219% $2,230 0.129% $1,314 Vantagepoint Milestone 2020 R3 Target Date Fund 6 $582,542 1.01% $5,884 0.54% $3,146 BlackRock LifePath Index Retire K TDF 8 0.09% 0.129% 0.219% $1,276 0.129% $751 Vantagepoint Milestone 2025 R3 Target Date Fund 6 $430,533 1.03% $4,434 0.54% $2,325 BlackRock LifePath Index 2025 K TDF 9 0.09% 0.129% 0.219% $943 0.129% $555 Vantagepoint Milestone 2030 R3 Target Date Fund 6 $534,797 1.05% $5,615 0.54% $2,888 BlackRock LifePath Index 2030 K TDF 9 0.09% 0.129% 0.219% $1,171 0.129% $690 Vantagepoint Milestone 2035 R3 Target Date Fund 6 $271,599 1.06% $2,879 0.54% $1,467 BlackRock LifePath Index 2035 K TDF 8 0.09% 0.129% 0.219% $595 0.129% $350 Vantagepoint Milestone 2040 R3 Target Date Fund 6 $350,514 1.08% $3,786 0.54% $1,893 BlackRock LifePath Index 2040 K TDF 8 0.09% 0.129% 0.219% $768 0.129% $452 Vantagepoint Milestone 2045 R3 Target Date Fund 6 $310,147 1.08% $3,350 0.54% $1,675 BlackRock LifePath Index 2045 K TDF 8 0.09% 0.129% 0.219% $679 0.129% $400 Vantagepoint Milestone 2050 R3 Target Date Fund 6 $52,700 1.08% $569 0.54% $285 BlackRock LifePath Index 2050 K TDF 8 0.09% 0.129% 0.219% $115 0.129% $68 Vantagepoint Milestone 2055 R3 Target Date Fund - $10,484 1.08% $113 0.54% $57 BlackRock LifePath Index 2055 K TDF 8 0.09% 0.129% 0.219% $23 0.129% $14 Vantagepoint MP Conservative Growth R3 Target Risk Fund 5 $1,090,191 1.06% $11,556 0.54% $5,887 BlackRock LifePath Index TDF series K TDF 9 0.09% 0.129% 0.219% $2,388 0.129% $1,406 Vantagepoint MP Traditional Growth R3 Target Risk Fund 4 $3,376,465 1.09% $36,803 0.54% $18,233 BlackRock LifePath Index TDF series K TDF 9 0.09% 0.129% 0.219% $7,394 0.129% $4,356 Vantagepoint MP Long-Term Growth R3 Target Risk Fund 4 $2,261,043 1.10% $24,871 0.54% $12,210 BlackRock LifePath Index TDF series K TDF 9 0.09% 0.129% 0.219% $4,952 0.129% $2,917 VT Retirement IncomeAdvantage Fund Guaranteed Income 6 $175,031 1.99% $3,483 0.74% $1,295 VT Retirement IncomeAdvantage Fund R5 1 GI 6 1.23% 0.129% 1.359% $2,379 0.129% $226
VT Fidelity Puritan Balanced 4 $297,964 0.83% $2,473 0.54% $1,609 Janus Henderson Balanced N BAL 9 0.57% 0.129% 0.699% $2,083 0.129% $384 VT MFS Value R3 Large Cap Value 10 $155,744 0.87% $1,355 0.54% $841 Vanguard Equity-Income Adm LCV 10 0.18% 0.129% 0.309% $481 0.129% $201 VT Invesco Diversified Dividend A Large Cap Value 8 $152,665 0.85% $1,298 0.54% $824 Vanguard Equity-Income Adm LCV 10 0.18% 0.129% 0.309% $472 0.129% $197 Vantagepoint Equity Income R3 Large Cap Value 5 $163,986 1.00% $1,640 0.54% $886 Vanguard Equity-Income Adm LCV 10 0.18% 0.129% 0.309% $507 0.129% $212 VT Parnassus Core Equity Investor Large Cap Blend 9 $144,445 1.16% $1,676 0.54% $780 Fidelity 500 Index LCB-P 10 0.02% 0.129% 0.144% $208 0.129% $186 Vantagepoint Growth & Income R3 Large Cap Blend 7 $294,480 0.92% $2,709 0.54% $1,590 Fidelity 500 Index LCB-P 10 0.02% 0.129% 0.144% $424 0.129% $380 VT Invesco Oppenheimer Main Street A Large Cap Blend 6 $194,902 0.91% $1,774 0.54% $1,052 Fidelity 500 Index LCB-P 10 0.02% 0.129% 0.144% $281 0.129% $251 Vantagepoint 500 Stock Index R3 Large Cap Blend 10 $1,590,821 0.48% $7,636 0.34% $5,409 Fidelity 500 Index LCB-P 10 0.02% 0.129% 0.144% $2,291 0.129% $2,052 Vantagepoint Broad Market Index R3 Large Cap Blend 9 $426,984 0.48% $2,050 0.34% $1,452 Fidelity 500 Index LCB-P 10 0.02% 0.129% 0.144% $615 0.129% $551 VT Fidelity Contrafund Large Cap Growth 8 $1,470,347 1.11% $16,321 0.54% $7,940 T. Rowe Price Blue Chip Growth I LCG 10 0.57% 0.129% 0.699% $10,278 0.129% $1,897 VT T. Rowe Price Growth Stock Adv Large Cap Growth 7 $621,762 1.21% $7,523 0.69% $4,290 T. Rowe Price Blue Chip Growth I LCG 10 0.57% 0.129% 0.699% $4,346 0.129% $802 Vantagepoint Growth R3 Large Cap Growth 5 $426,995 1.04% $4,441 0.54% $2,306 T. Rowe Price Blue Chip Growth I LCG 10 0.57% 0.129% 0.699% $2,985 0.129% $551 VT Victory Sycamore Established Value A Mid Cap Value 10 $169,648 0.91% $1,544 0.54% $916 Fidelity Mid Cap Index MCB-P 10 0.03% 0.129% 0.154% $261 0.129% $219 Vantagepoint Select Value R3 Mid Cap Value 5 $28,306 1.20% $340 0.54% $153 Fidelity Mid Cap Index MCB-P 10 0.03% 0.129% 0.154% $44 0.129% $37 VT Carillon Eagle Mid Cap Growth A Mid Cap Growth 9 $53,071 1.04% $552 0.54% $287 Fidelity Mid Cap Index MCB-P 10 0.03% 0.129% 0.154% $82 0.129% $68 VT AMG TimesSquare Mid Cap Growth N Mid Cap Growth 8 $347,073 1.47% $5,102 0.54% $1,874 Fidelity Mid Cap Index MCB-P 10 0.03% 0.129% 0.154% $534 0.129% $448 Vantagepoint Aggressive Opportunities R3 Mid Cap Growth 6 $81,263 1.06% $861 0.54% $439 Fidelity Mid Cap Index MCB-P 10 0.03% 0.129% 0.154% $125 0.129% $105 Vantagepoint Discovery R3 Small Cap Blend 8 $330,698 1.06% $3,505 0.54% $1,786 Fidelity Small Cap Index SCB-P 10 0.03% 0.129% 0.154% $509 0.129% $427 Vantagepoint Mid/Small Company Index R3 Small Cap Blend 9 $351,089 0.48% $1,685 0.34% $1,194 Fidelity Small Cap Index SCB-P 10 0.03% 0.129% 0.154% $541 0.129% $453 VT Invesco Oppenheimer Discovery A Small Cap Growth 10 $105,241 1.13% $1,189 0.54% $568 JPMorgan Small Cap Growth R6 SCG 10 0.74% 0.129% 0.869% $915 0.129% $136 VT Nuveen Real Estate Securities A REIT 9 $278,893 1.31% $3,653 0.54% $1,506 DFA Real Estate Securities I REI 10 0.18% 0.129% 0.309% $862 0.129% $360 VT ClearBridge International Value A International Equity 4 $20,238 1.20% $243 0.69% $140 Fidelity Total International Index IE-P 10 0.06% 0.129% 0.189% $38 0.129% $26 Vantagepoint International R3 International Large Cap 8 $110,026 1.29% $1,419 0.54% $594 Fidelity Total International Index IE-P 10 0.06% 0.129% 0.189% $208 0.129% $142 Vantagepoint Overseas Equity Index R3 International Large Cap 10 $598,083 0.53% $3,170 0.34% $2,033 Fidelity Total International Index IE-P 10 0.06% 0.129% 0.189% $1,130 0.129% $772 VT Fidelity Diversified International International Large Cap 5 $501,150 1.10% $5,513 0.54% $2,706 Fidelity Advisor Intl Capital App Z ILCG 10 0.87% 0.129% 0.999% $5,006 0.129% $646 Vantagepoint Emerging Markets Fund R3 Emerging Market Equity - $20,500 1.47% $301 0.54% $111 American Funds New World R6 EME 10 0.60% 0.129% 0.729% $149 0.129% $26 Vantagepoint MP Global Equity Growth R3 Global Equity 6 $177,692 1.18% $2,097 0.54% $960 American Funds New Perspective R6 GE 9 0.42% 0.129% 0.549% $976 0.129% $229 Vantagepoint Core Bond Index R3 Core Fixed Income 10 $340,075 0.48% $1,632 0.34% $1,156 Loomis Sayles Core Plus Bond N CFI 9 0.39% 0.129% 0.519% $1,765 0.129% $439 VT Western Asset Core Plus Bond A Core Fixed Income 9 $472,505 0.74% $3,497 0.64% $3,024 Fidelity US Bond Index CFI-P 10 0.03% 0.129% 0.154% $728 0.129% $610 Vantagepoint Inflation Focused R3 U.S. Government TIPS 7 $85,476 0.90% $769 0.54% $462 DFA Inflation-Protected Securities I UGT 9 0.11% 0.129% 0.239% $204 0.129% $110 VT PIMCO High Yield R High Yield 7 $214,180 1.11% $2,377 0.54% $1,157 PGIM High Yield R6 HY 10 0.40% 0.129% 0.529% $1,133 0.129% $276 VT Cash Management R3 Money Market - $38,677 0.72% $278 0.54% $209 Vantagepoint PLUS Fund Class R10 SV 0.54% 0.129% 0.669% $259 0.129% $50 ICMA Vantagepoint PLUS Stable Value Stable Value - $3,838,255 1.10% $42,221 0.54% $20,727 Vantagepoint PLUS Fund Class R10 SV 0.54% 0.129% 0.669% $25,678 0.129% $4,951
Total
$24,969,444 1.00%
$250,087 0.51%
$127,837
0.37%
$91,909
0.129%
$32,211
Best efforts were made to obtain and present accurate information. Provider services, fees, and capabilities are subject are subject to change and cannot be guaranteed now or in the future. Fees and services are subject to change at any time. Contact provider for actual pricing and terms. Final pricing, services, and contractual provisions are at the sole discretion of each plan provider.
1. In the new proposed arrangement, we would recommend moving to the R5 share of the VT Retirement IncomeAdvantage. It carries a 1.68% expense ratio which includes 0.45% in revenue sharing. The 0.45% revenue sharing would be credited back to participants based on their investment in the fund to the net expense experienced by those participants would be 1.23% which is what we have used in this illustration.
Current ICMA-RC Program Cost Analysis
Expense & Revenue
