Wayne County 457 Deferred Compensation Plan
Active Provider
Comparison
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AXA Advisors |
Hartford |
ING |
Midland National |
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Annuity |
PenServ |
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Fees: |
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Average Fund Expense Ratio of Variable Investments or Mutual Funds |
1.07% (ratios range from 0.62% to 1.44% after expense
limitations) |
0.44% |
1.01% |
0.79%* *
Average
expense ratio includes .35% additional asset fee for Vanguard Funds |
N/A |
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Additional asset fee |
M & E = 1.20% |
0.51% |
None |
See
note above |
None |
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TOTAL AVERAGE ASSET FEE: |
2.27%
(ranges from 1.82% to 2.64%) |
0.95% |
1.01% |
0.79% |
N/A |
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Surrender Charge or Fee to Transfer Account to Different Provider |
Transfer to different
provider: $65 maximum per participant
for each occurrence. Currently $25
per participant for each occurrence. 10 year declining surrender
charge schedule: ·
Contract Year
1.5 = 6% ·
Year 6 = 5% ·
Year 7 = 4% ·
Year 8 = 3% ·
Year 9 = 2% ·
Year 10 = 1% ·
Year 11+ = 0% Surrender Charge waivers may apply, please contact
Axa Advisors representative for details.
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None |
None |
None |
14 year – 18% decreasing to
0% 10 year – 10% decreasing to
0% |
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Guaranteed Fund: |
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Current Interest Rate |
1.50% |
N/A |
3.00% |
3.00% |
1.75% |
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Minimum Guaranteed Interest Rate |
1.25% - 1.00%, depending upon issue date of
participant contract |
N/A |
3.00% |
3.00% |
1.00% |
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Bonus on all Premiums First 7 Years |
N/A |
N/A |
N/A |
N/A |
Up to 8% |
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Principal & Appreciation Guaranteed |
N/A |
N/A |
N/A |
N/A |
Market indices reset annually |
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Insurance Riders: |
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Death Benefit (including cost) |
Standard death benefit: no fee Enhanced death benefit: 0.15% maximum charge |
N/A |
N/A |
N/A |
N/A |
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Income Benefits (including cost) |
Personal Income Benefit
(PIB): optional feature is designed to
help address the impact of longevity, market volatility, and inflation on a
participant’s retirement income. It is
a way for a participant to turn their retirement savings into an annual
withdrawal benefit that provides market growth potential, income protection
& lifetime payments. Fee is 1.00% (calculated as
a percentage of the participant’s PIB account value) |
N/A |
N/A |
N/A |
N/A |
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Participant Services: |
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Onsite Investment Professionals |
AXA Advisors Financial
Professionals provide enrollment and ongoing education services including
asset allocation seminars, group and one-on-one education meetings, annual
reviews, printed communication materials, and interactive video-based
programs. Brian Mosallam Phone: 313-712-5300 Brian.Mosallam@axa-advisors.com G.H. Alawan Phone: 313-506-0456 Thomas Tafelski Phone: 313-718-1066 Thomas.Tafelski@axa-advisors.com Richard Gilbertson Phone: 734-459-4304 Richard.gilbertson@axa-advisors.com |
AXA Advisors Financial
Professionals provide enrollment and ongoing education services including
asset allocation seminars, group and one-on-one education meetings, annual
reviews, printed communication materials, and interactive video-based
programs. Brian Mosallam Phone: 313-712-5300 Brian.Mosallam@axa-advisors.com G.H. Alawan Phone: 313-506-0456 Thomas Tafelski Phone: 313-718-1066 Thomas.Tafelski@axa-advisors.com Richard Gilbertson Phone: 734-459-4304 |
Retirement Plan Advisors (RPA) provides personal retirement
counseling and investment advice, including PortfolioPlus, a professionally managed account service specifically
designed for public employees. To learn more, contact your local RPA financial advisor at (734)
421-2212: Jamilah Brown jbrown@retirementplanadvisors.com Eric Mitchell emitchell@retirementplanadvisors.com Mark Mitchell mmitchell@retirementplanadvisors.com Randy Nelson |
Personal one-on-one service to help
participants with: · Enrollment
Support · Asset
allocation assistance · Annual
reviews and account rebalancing · Retirement
needs analysis · Rollovers
and transfers · Retirement
planning To learn more, contact your local financial consultants at 248-568-5331: Clark Harris Kevin VandenHaute Peggy-Sue McNier Don Fairman |
Financial Consultants: Charles E. Howe 313-283-9132 Gene Wittstock 248-990-3800 Vincent Cassar 313-920-5456 Richard Naughton 248-408-7567 William Revoir 586-489-9428 |
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Online Tools (provide website link) |
Calculators, planning tools,
fund information, etc. https://onlineaccess.axa-equitable.com/cps/clientlogin Log into participant account
to view specific information |
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|
All
data reflected was provided by each 457 Provider and then compiled in this
chart by Wayne Country Employees’ Retirement System. The Wayne County
Employees' Retirement System is not
responsible
for any inaccuracies that may occur in the data provided. Please contact the specific 457 Providers
with any questions or requests for more detailed information.