Texa$aver introduces flat fee, new investment option

June 07, 2021
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Texa$averSM 401(k) / 477 Program participants now pay a fixed administrative fee each month instead of a fee based on their account balance.

For many participants, the new $1.50 flat fee is significantly lower than their previous monthly fee: Those with balances of $1,000 to $16,000 pay about 27% less, while accountholders with larger balances now pay up to 78% less. The change was effective May 1, and accountholders will start seeing the new fee in their second quarter statements (for April through June).

The Texa$aver program is funded entirely by participants and gets no state funds. The administrative fee covers the cost of recordkeeping and other services.

New investment option

Texa$aver participants also have a new investment option. Fidelity International Index Fund (FSPSX) is part of the program’s core fund lineup effective May 1. Accountholders can move funds among investment options any time by logging in to their account online or by calling a Texa$aver representative at (800) 634-5091 (TTY: (877) 606-4790) from 7 a.m. to 9 p.m. CT Monday through Friday, or Saturday from 8 a.m. to 4:30 p.m. CT.

Remember to consider investment objectives, risks, fees and expenses carefully before investing. You can get this and other important information, such as mutual fund prospectuses for registered investment options and/or disclosure documents, on the Texa$aver website under the Investing tab or by calling (800) 634-5091 to request it from Texa$aver representative.

Texa$aver 401(k) / 477 Program fees 

NEW Monthly
Administrative Fee
(Per Participant, Per Account)
Previous Monthly
Administrative Fee
(Per Participant, Per Account)
Account Balance
$1.50 for all participants,
regardless of account balance
$0.60 $1,000 or less
$2.05 $1,000.01 to $16,000
$3.08 $16,000.01 to $32,000
$4.19 $32,000.01 to $48,000
$5.58 $48,000.01 to $64,000
$6.99 $64,000.01 or more