MSU Retirement Plan Fee Credit for Legacy Accounts

Over the past several years MSU has worked with our retirement vendors to reduce the expenses associated with MSU's retirement plans. Accordingly, we have reduced the retirement plan administrative costs for contributions in the accounts that began January 2012, and we have also negotiated to reduce the total fund expenses that MSU faculty, staff and retirees are charged in their retirement accounts for contributions prior to 2012, which we call the legacy accounts.

As a result of the reducation in total fund expenses, a fee credit will be allocated this month to participants with legacy accounts, similar to the fee credits that were allocated to participants' legacy accounts in prior years. This fee credit represents a return of fees paid in excess of the necessary administrative expenses charged by Fidelity or TIAA accounts with a balance. You will see this fee credit in your March quarter-end retirement account statement from either Fidelity or TIAA.