Annual Fee Disclosure (AFD)
The AFD includes important information about Savings Plus service, administrative, and investment-related fees. We provide a variety of investment options - review the Investment Performance Reports for information about the options available to you. You may modify your investment selections on any day the New York Stock Exchange is open for business. Additional information can be found under Investment Information.
As with any investment, fees are paid by the investor. Savings Plus investment fees and service fees are featured below.
Featured as Expense Ratios in performance reports, these fees are the percentage of assets deducted for fund expenses, including management fees, operating expenses, other costs incurred by the fund, and nominal trustee services fees. You will not see these fees directly because they are deducted from investment earnings.
For more information about our investment fees, review our Investment Performance Reports and Fund Fact Sheets.
The following fees help offset Savings Plus administrative expenses:
Asset-based fee: 0.04% (annualized) is deducted quarterly at 0.01% against the first $600,0001 of your account balance2.
Administrative charge: $6.00 per plan is deducted quarterly from your account.
1Maximum fee of $60 per quarter
2Including your core account balance, active loan balance, and Schwab Personal Choice Retirement Account (PCRA) balance
These fees include:
- Loan Initiation fee: A $50 fee will be deducted from your account if you take a loan. On January 1, 2023, this fee amount updated to $75.
- Qualified Domestic Relations Order fee (QDRO): A processing fee of $300 is assessed and equally split by the participant and the alternate payee, unless the court decree orders differently. The fee is deducted from your account before the order is applied. On January 1, 2023, this fee amount updated to $400.
- Check fee: If you choose to receive a check in lieu of a direct deposit, a $2.00 check fee will be deducted from your account for each distribution
- Overnight fee: If you choose to receive a check and want it sent through overnight delivery, a $25 overnight check fee will be deducted from your account
- ACH Loan Insufficient Funds fee: A processing fee of $50 is assessed per loan repayment if the ACH fails due to insufficient funds. This fee is deducted from your account
- Short-Term Trade (Redemption) fee: Our excessive trading policy imposes a 2.0% redemption fee on the sale of securities in the International Fund, the International Index Fund, and the Target Date Funds if the sale occurs within 30 calendar days of purchase (the "holding period")
The additional investing service options and fees are listed below.
Schwab Personal Choice Retirement Account (PCRA)
The PCRA gives you access to a marketplace of investment options not featured in the Savings Plus Core Investment Funds. It allows you greater flexibility with your Savings Plus investments by allowing the freedom to select and manage your portfolio from a larger universe of mutual funds, individual stocks, bonds and a variety of other investment choices. It is generally for more experienced investors or those who desire more investment options and are willing to pay an additional fee to process transactions. A PCRA Pricing Summary is available. There is no initial or ongoing transfer minimum to the PCRA. A minimum amount of the lesser of $2,500 or 50% of your account balance must remain in your core accounts when you use the PCRA (including Target Date Funds). Commissions and fees (to Schwab) may apply. These fees are deducted directly from the assets in your PCRA account. In addition, PCRA assets are included in the asset-based fee calculation disclosed within the Administrative fees section above.
Professionally Managed Account fee
Nationwide ProAccount® is a fee-based, managed account service that creates and maintains a personalized retirement investment strategy. This service manages your account using the Savings Plus core investment funds lineup. Fees associated with ProAccount are as follows:
- The first $99,999.99 — 0.45% fee assessed
- The next $150,000 — 0.40% fee assessed
- The next $150,000 — 0.35% fee assessed
- The next $100,000 — 0.30% fee assessed
- Assets $500,000 and above — 0.25% fee assessed
The Professionally Managed Account Fee is calculated daily based on the market value of your Account (also known as "average daily balance") and payable at the end of each quarter. Nationwide Investment Advisors (NIA) exercises discretionary authority to allocate and rebalance a participant’s account to implement the advice Wilshire provides. Because investing involves market risk, there is no guarantee that Nationwide ProAccount will achieve an investor’s objectives. Wilshire is a service mark of Wilshire Associates, Inc., which is not affiliated with Savings Plus or NIA. Nationwide ProAccount is a service mark of Nationwide Mutual Insurance Company.
It pays to understand the cumulative effect of fees and expenses on your account. Lower fees keep more of your contributions in your account, and more in your account means there is greater potential for growth. Our fees are some of the lowest in the industry, which means more of your contributions go to work for you. Check out how Savings Plus' fees compare to the industry to learn more.
Fees are only one of several factors to consider when making investment decisions. Carefully consider other key factors, including asset class, risk, principal investment strategies, and historical performance when selecting investments. Investing involves market risk. Read the Fund Fact Sheets carefully before investing. No investment strategy or program can guarantee a profit or avoid losses.