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DeKalb committee backs 10‑basis‑point fee leveling for employee Nationwide accounts
Summary
Finance staff recommended, and the committee approved, an across‑the‑board 10 basis point (0.10%) administrative fee for Nationwide retirement accounts covering about 5,200 county employees; proponents said it lowers fees for roughly 93% of participants but will raise fees for about 7% who currently pay nothing.
Finance staff presented a proposal to standardize the administrative fee for Nationwide retirement accounts at 10 basis points (0.10%) regardless of investment election. The presenter, identified in the record as Dr. Volker, told the committee the change would make fees more transparent and reduce litigation risk tied to undisclosed higher…
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