Why does the 403(b) Product List display some products/investment options that have asset–based fees which exceed the TRS maximum of 2.75% per year?
In total, a 403(b) participant may not be charged asset–based fees that exceed 2.75% per year. Certain products have multiple investment options. The 403(b) Product List displays the total fees of each individual investment option in combination with product fees. However, an employee has the opportunity to choose a mix of investment options, some of which exceed and some of which do not exceed the maximum rate, so that resulting total weighted asset–based fees would not exceed 2.75% per year.
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