Texa$aver Fees for Active Employees


Texa$aver participants benefit by paying low group-based fees. Participants do not pay any load fees and pay low administrative fees. Managed account service is also available at a low cost. Additional fees include, Schwab Brokerage account, loan, and other miscellaneous fees. Fees are clearly noted on your statement.

Administrative Fees

This covers the cost of Program record keeping expenses. Administrative fees for new Texa$aver accounts are waived for six months. At the end of the waiver period, a monthly fee will be deducted from your account. Fees are charged at $1.50 per participant, per month. Fees are assessed to the 401(k) and 457 Plans separately and are based on your account balance. For more information on fees, please refer to the Understanding your fees publication.

Managed Account Fees

The Managed Account service is an optional service for Texa$aver participants

  • For each account, monthly fees are charged to the total balance.
  • Fees are assessed for the calendar month, regardless of how many days your account is enrolled in the Managed Account service that month.
  • Fees apply to balances in the Texa$aver Managed Account service. No additional fees are charged for Online Investment Guidance or Online Investment Advice.

Additional Fees

Loan Fees

  • $50 initiation fee is deducted from loan payout.
  • $2.08 is deducted from the account for loan maintenance every month.
  • Loan fees can be found on the quarterly statement under the Expenses section.

Schwab Personal Choice Retirement Account® (PCRA) Fees

  • Transaction fees and commissions are outlined in the PCRA welcome kit.
  • There is no cost to open a PCRA.
  • Balances in Schwab PCRA are also assessed administrative fees.

Other Fees

  • $25 fee is charged for overnight delivery of distribution checks.
  • $15 fee is charged for one-time wire transfers of distributions.