What fees are associated with setting up and maintaining an Effortless IRA account?
Your employer’s retirement plan will charge a fee for you to withdraw your money
from the plan. While the distribution fee differs from one employer-sponsored retirement
plan to another, the fee to roll over your balance to an Effortless IRA will be
reduced by $30 from the fee that would apply if you were to roll over your balance
to another IRA provider or take a cash disbursement. Should you choose to roll over
your balance to an Effortless IRA, you will initiate your rollover by selecting
the “Sign Up for IRA” button above, and on the page that appears, the discounted
distribution fee will be listed near the bottom of the page under “Distribution
Fee Information”.
The annual fee for your Effortless IRA account will be 0.40% of your account balance
($4 for every $1,000 invested), billed at 0.05% semi-quarterly (eight times per
year). A $35 annual fee will also apply for accounts with a balance under $25,000.
Lump sum and partial distributions from your Effortless IRA account will be subject
to a distribution fee of $50. Recurring distributions from your Effortless IRA account
will be subject to a fee of $50 for the first distribution and $15 for each subsequent
distribution.
What are the investment options in my Effortless IRA account?
Winslow, Evans & Crocker, Inc. is a Registered Investment Advisor (RIA) that has
selected a menu of funds that are available in your Effortless IRA account. To view
a list of available funds (along with fund fact sheets and prospectuses), please
select the “Effortless IRA Funds” link to the right.
While you are able to select from among the list of “Effortless IRA Funds” to determine
a custom asset allocation for your Effortless IRA account, you may also select from
among five “model portfolios” that are managed by Winslow, Evans & Crocker, Inc.
Each model portfolio uses an asset allocation that is appropriate for a particular
type of investor. To view the asset allocation for each of the five model portfolios,
please select the “Effortless IRA Model Portfolios” link to the right. When signing
up for an Effortless IRA, you will complete a questionnaire to determine the model
portfolio best suited to your savings goals. Each model portfolio will be rebalanced
periodically, as needed, to ensure an appropriate asset allocation.
As owner of an Effortless IRA account, you will have the ability to transfer funds
and change your investment selections at any time.
How will I set up and manage my Effortless IRA account?
To set up your Effortless IRA account, please select the “Sign Up for IRA” button
above. You will be directed to a page that will ask you for information needed to
set up your account. Should you have questions during the setup process, you may
contact a TRPC client care representative by calling 888-673-5440 or by clicking
the “Chat Live” icon that appears on the screen. From the time you complete your
Effortless IRA account setup request, it will take approximately 5 to 6 business
days to move the funds from your account in your employer’s retirement plan into
your Effortless IRA account.
Once your Effortless IRA account is set up, your online experience as an Effortless
IRA owner will be similar to your experience in having an account in your employer’s
retirement plan. The User ID and Password that you currently use to access your
account will remain unchanged, and the web interface that you use to manage your
account will be very familiar. When you initially log into your Effortless IRA account,
it will be necessary for you to select one of the five model portfolios managed
by Winslow, Evans & Crocker, Inc., or to create a custom asset allocation from the
available menu of funds.
Where can I find information about Internal Revenue Service (IRS) rules related
to Individual Retirement Arrangements (IRAs)?
IRS rules on IRA account ownership, contributions, and taxation can be found in
Publication 590 located here.