Plan Operating Expenses
There are always expenses involved in operating pension plans. There are two main types of operating expenses that you will see deducted from your pension account, as follows:
1. Tiaa-Cref Admin Fees: These fees relate to Tiaa-Cref's expenses for administering our accounts, and those expenses include their software costs, their professional staff, their Call Center, our quarterly statements, our confirmation mailings, our individual web accounts, our advisors, and many other services.
2. CTC Operating Fees: These fees relate to the costs of maintaining a Pension Plan Admin Office at CTC, and those expenses include salaries, technology costs, printing, supplies and other costs. These expenses also include costs to support the CTC Pension Plan Trust Committee, charges for our annual audit, and legal fees. These fees are also deducted from our accounts once each quarter, on a pro-rata basis, and are labeled "Non Tiaa-Cref Plan Servicing Fees".