Tag Archives: maintenance fees

Pershing Retirement Account Annual Maintenance Fee Changes

Effective April 1, 2017, there will be increases in the annual maintenance fees for Pershing Retirement accounts. The new fees will vary by plan type.

All clients were notified of this upcoming change on the December 2016 Pershing Account Statements. Below please find a sample of the language included on the statements.

Please see the below changes in the annual fee(s) for your Retirement Account(s), effective April 1, 2017.

For Clients With Traditional IRAs, Roth IRAs, SEP IRAs and Education Savings Accounts The annual maintenance fee for your Retirement Account will increase from $35.00 to $43.50, effective April 1, 2017.

For Clients With Traditional IRAs and Roth IRAs–Mutual Fund Only Accounts – The annual maintenance fee for your Retirement Account will increase from $10.00 to $12.00, effective April 1, 2017.

For Clients With Prototype Simplified Employee Pensions (Prototype SEPs and SARSEPs) Accounts – The annual maintenance fee for your Retirement Account will increase from $50.00 to $58.50, effective April 1, 2017.

For Clients With SIMPLE Plan and 403(b)(7) Custodial Accounts – The annual maintenance fee for your Retirement Account will increase from $50.00 to $58.50 effective April 1, 2017.

For Clients With Qualified Retirement Plans (QRP) Accounts – The annual maintenance fee for your Retirement Account will increase from $50.00 to $75.00 or $125.00 depending on your QRP plan type, effective April 1, 2017.

Our annual disclosure of Pershing related fees is also included on the December 2016 Pershing account statements. As a reminder, the current Pershing Fee Schedule is available on our website at www.tfsweb.com – Securities, Forms, Pershing Forms, Pershing Fee Schedule 2017.

If you have any questions please contact me at 732-758-9300, Ext. 140 or jfraler@tfsweb.com.