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403(b) Product Registration Manual

1. 8 VIII Add Product Fees Also applies to Platform Product Fees 9 A Add Product Front End Sales Load Fee 10 B Add Product Back End Sales Load Fee 12 C Add Product Annual Fixed Dollar Fee 14 D Add Product Asset Based Fee 2220 2 nn nnn nn nnnnnnnnnn nnn nen nnn encensnsencene 16 E Add Product Surrender Withdrawal Charge 18 F Add Product Loan Application Origination Fee 20 G Add Product Other Fee 22 IX Edit or Remove Product Fees 0 nn nnn nnn nn nnn nn nnn nnn nn nnnnnnnn nen en wanna nnennnnnnensas 23 X Edit Discontinue Inactivate Activate Remove or Copy Product 27 A Edit Product 20nnnn nn nnnnn nnn nnn nn nnn ennennn nen cen en nennnnnenannncensanncnaseacenens 27 B Discontinue Product 0 2 nnn nnn nn non non en nennn nnn nn nnn nnnennnnnnnencensnnnenanee 28 C In
2. Fee applies shares held less than 90 days To exchanges or redemptions of When does the fee apply and how is it calculated ee Calculated 4s a percent of the amount sold Limit 300 characters p 7 based on the length of time held zj Screen continued below Company Name Investment Option Product Fee Name 403 b PRS User Manual 100 001 004 Total Protection Optional Rider Pending Add Back End Sales Load Fee Maximum Annualized Fee Percentage 2 000 o eee a Charge Period 2000 30days 200 0 60days 200 0days Fee applies shares held less than 90 days To exchanges or redemptions of when does the fee apply and how is it calculated Calculated As a percent of the amount sold Limit 300 characters s based on the length of time held x Fee is waived in school districts with 50 or more What are the fee waivers parcicipanta breakpoints and caps Limit 300 characters zj No C Yes Do Not Save Is this an optional fee Teacher Retirement System of Texas Revised October 30 2009 403 b Product Registration System User Manual v3 0 43 B Add Investment Option Back End Sales Load Fee continued e Enter the investment option Fee Name Note There is an 80 character limit including spaces in this text field Enter the Maximum Annualized Fee Percentage you must round to three decimal places For example this fee has a 2
3. Submit for Inactivation Not Ready for Submission Internet Click on Submit for Inactivation to submit a platform investment option Note Once the submittal to inactivate a platform investment option on the 403 b Active Products List has been accepted by TRS the product will move from the Active Products List to the Inactive Products List The product can be reactivated at any time by submitting an Activation request The 403 b Inactive Products List also includes platform investment options products and investment options that have been suspended or revoked by TRS or products that were offered by companies that are no longer certified Click on Not Ready for Submission if you do not want to submit a platform investment option for inactivation This brings the user to the Platform Investment Option Information screen Teacher Retirement System of Texas 26 Revised October 30 2009 403 b Product Registration System User Manual v3 0 C Activate Platform Investment Option e Activate Platform Investment Option on Web List is only visible if a platform investment option has previously been accepted and inactivated Go to the Main Menu screen click on List All Products and then select the previously inactivated platform investment option that now needs to be activated Company Name Certified Product Type Investment Option Name Investment Option Number Investment Option Type
4. 49 F Add Investment Option Loan Application Origination Fee 51 G Add Investment Option Other Fee 53 Teacher Retirement System of Texas Revised October 30 2009 403 b Product Registration System User Manual v3 0 Section Number XIV XV XVI XVII XVIII XIX XX XXI XXII XXIII XXIV XXV XXVI XXVII XXVIII XXIX Teacher Retirement System of Texas Table of Contents Page Proprietary Investment Options and Investment Option Fees How to Edit or Remove Investment Option Fees 2 22 nennnnennenensensae 54 Edit Discontinue Inactivate Activate Remove or Copy Investment Option 58 A Edit Investment Option 58 B Discontinue Investment OptiOn 59 C Inactivate Investment Option 60 D Activate Investment OptiOn 62 E Remove Investment OptiOn 64 F Copy Investment Option
5. Teacher Retirement System of Texas Not Ready for Submission B 3 Local intranet Done e Click on Submit for Activation to submit a product Note Once the submittal to activate a product on the 403 b Active Products List has been accepted by TRS the product will move from the Inactive Products List to the Active Products List e Click on Not Ready for Submission if you do not want to submit a product for activation This brings the user to the Product Information screen 32 Revised October 30 2009 403 b Product Registration System User Manual v3 0 E Remove Product e This screen is accessed by selecting Remove Product from the Product Information screen e Click on Remove to remove a product from the PRS A product may be removed only if it has been entered into the PRS but has not yet been submitted to TRS Note Once a product is removed it must be re entered in the PRS to register the product e Click on Do NOT Remove Product if you do not want to remove a product This brings the user to the Edit Product screen Teacher Retirement System of Texas 33 Revised October 30 2009 403 b Product Registration System User Manual v3 0 F Copy Product e This screen is accessed by selecting Copy Product from the Product Information screen Company Name 403 b PRS User Manual UM Product 100 001 Product Name Product Number Product Type Variable Annu
6. This fee may be waived in part by the selling agent e Enter the investment option Fee Name Note There is an 80 character limit including spaces in this text field e Enter the Maximum Annualized Fee Percentage you must round to three decimal places For example this fee has a rate that ranges between 500 and 1 520 and is applied at the time of purchase the maximum annualized fee percentage is 1 520 FEE MAXIMUMS Fees may not exceed maximums for the same fee type All product fees and associated investment option fees are aggregated within the same fee type Front end and back end sales loads may not exceed 6 000 in total If a fee exceeds the allowable maximum for a fee type an error message will appear and the fee will not be accepted by the PRS In order for a product to be accepted a fee amount will need to be in compliance with TRS RULE 53 3 Please refer to the warning below WARNING A certified company may charge a front end sales load or back end sales load that in the aggregate does not exceed six percent 6 of the amount identified in the contract as subject to sales load charges such as premiums paid or the price of the fund shares TRS Rule 53 3 c e When does the fee apply and how is it calculated Please be as detailed as possible Note There is a 300 character limit including spaces e What are the fee waivers breakpoints and caps Please be as detailed as possible Note There is a 300 character
7. n e a nnn cnn aeaa e i 65 View amp Submit Proprietary Product amp Proprietary Investment Option Functions View Product Summary 67 View Investment Option SUMMary 7 7 68 Submit Product for TRS Review 69 Submit Investment Option for TRS Review 70 Compare Accepted Proprietary Products amp Proprietary Investment Options with New Edits Compare Previously Accepted Product or Investment Option with Newly Submitted Edits 71 A Compare Previously Accepted Product with Newly Submitted Edits 71 B Compare Previously Accepted Investment Option with Newly Submitted Edits 73 Platform Products and Platform Product Fees How to Add Platform Product 75 Access Product Information 2 2 nn nner nn nn nnn nnnnnn enon na nnnnnnnnnnenewennnnnnncanasennacans 77 Access Platform Investment Option Information 78 Add Edit or Remove Platform Investment Option Fees see sect VIII sub sect
8. to save this platform product This brings the user to the Product Information screen Click on Cancel to clear entries This brings the user to the Product List screen Note Once platform product information is saved it is held in a Pending Add status until submitted to TRS see p 91 TRS will then accept the platform product or return it for additional edits Teacher Retirement System of Texas 76 Revised October 30 2009 403 b Product Registration System User Manual v3 0 XXII Access Investment Option Information e This screen is accessed by selecting Continue on the Add Platform Product screen _Do Not Save _ v nemne ECER e The Investment Option Information screen identifies the Base Company Name the Base Investment Option Name and Number 100 015 001 and the Product Type Custodial Account e Click on Save amp Continue to save this platform product This brings the user to the Platform Investment Option Information screen e Click on Do Not Save to return to the Add Platform Product screen Teacher Retirement System of Texas 77 Revised October 30 2009 403 b Product Registration System User Manual v3 0 XXIII Access Platform Investment Option Information e This screen is accessed by selecting Save and Continue on the Product Information screen or by selecting a platform investment option from the Product List Hnternet R100 e The Platform In
9. Note There is an 80 character limit including spaces in this text field e Enter the Maximum Annualized Fee Percentage you must round to three decimal places or the Maximum Annualized Fee Amount For example if this fee has a percentage that ranges between 25 and 85 and is applied quarterly enter the maximum annualized fee percentage of 3 40 If this fee has a dollar amount that ranges between 8 00 and 12 00 and is applied quarterly enter the maximum annualized fee amount of 48 00 In the example provided this fee has a 10 00 fee whenever an intermediary such as a broker dealer assists in the sale or purchase of a security the maximum fee is 10 00 There are no established fee caps for other fees However other fees will be reviewed by TRS to ensure they are not misclassified e When does the fee apply and how is it calculated Please be as detailed as possible Note There is a 300 character limit including spaces e What are the fee waivers breakpoints and caps Please be as detailed as possible Note There is a 300 character limit including spaces e Click on Yes if this is an optional fee An optional fee is for an additional optional provision or benefit such as a living benefit option which may be chosen by the customer at an additional cost e Click on Save amp Continue to save this fee This brings the user to the Investment Option Fees screen Teacher Retirement System of Texas 53 Revised Octobe
10. Product Registration System User Manual v3 0 F Add Investment Option Loan Application Origination Fee e This screen is accessed by selecting Loan Application Origination Fee from the Investment Option Fees screen Application Fee for Loan Approval 25 00 Fee applies at the time of loan origination Calculated Flat dollar amount e Enter the investment option Fee Name Note There is an 80 character limit including spaces in this text field e Enter the Maximum Annualized Fee Amount For example this fee has a flat dollar amount of 25 00 that is applied on a one time basis the maximum fee is 25 00 FEE MAXIMUMSS Fees may not exceed maximums for the same fee type All product fees and associated investment option fees are aggregated within the same fee type If a fee exceeds the allowable maximum for a fee type an error message will appear and the fee will not be accepted by the PRS In order for a product to be accepted a fee amount will need to be in compliance with TRS RULE 53 3 Please refer to the warning below WARNING A certified company may charge a loan initiation fee of no more than 50 00 This subsection does not prohibit a company from charging interest on a loan in addition to a loan initiation fee If the investment product is an annuity contract loan terms must comply with applicable requirements of insurance laws including Article 3 44c Insurance Code TRS Rule 53 3 g e When does the
11. or Denied List of all products in pending status such as Pending Add or Pending Edit List of all products in submitted status such as Submitted New or Submitted Existing List of all products in denied status All denied products will remain on this screen unless removed List of Company Information Contact Information and Web site User information Allows user to change password For assistance with changing your password contact TRS at 866 616 4032 or email TRS at Takes user to the Product Registration System instructional manual Takes user to the TRS 403 b Certification and Product Registration Web site Takes user to the TRS 403 b Active Products List For assistance with 403 b product registration contact TRS at 866 616 4032 or email TRS at 403b trs state tx us Logs user out of the PRS 94 Revised October 30 2009 403 b Product Registration System User Manual v3 0
12. rate that is applied if the investment option is sold at anytime during the first 90 days after purchase the maximum fee is 2 000 Enter the Back End charge showing the fee that applies at sale based on the time period the product has been held FEE MAXIMUMSS Fees may not exceed maximums for the same fee type All product fees and associated investment option fees are aggregated within the same fee type Front end and back end sales loads may not exceed 6 000 in total If a fee exceeds the allowable maximum for a fee type an error message will appear and the fee will not be accepted by the PRS In order for a product to be accepted a fee amount will need to be in compliance with TRS RULE 53 3 Please refer to the warning below WARNING A certified company may charge a front end sales load or back end sales load that in the aggregate does not exceed six percent 6 of the amount identified in the contract as subject to sales load charges such as premiums paid or the price of the fund shares TRS Rule 53 3 c e When does the fee apply and how is it calculated Please be as detailed as possible Note There is a 300 character limit including spaces e What are the fee waivers breakpoints and caps Please be as detailed as possible Note There is a 300 character limit including spaces e Click on Yes if this is an optional fee An optional fee is for an additional optional provision or benefit such as a living benefit opti
13. 4 000 4 years 3 500 5 years 3 000 6 years 2 500 7 years 2 000 8 years 1 50096 9 years 1 00096 10 years 0 5009 The amount of the charge will depend on how long your contract has been in effect This fee has a rate that ranges between 0 500 and 5 000 and is applied annually The amount of withdrawal charge assessed against the contract will not exceed 596 of purchase payments under the contract Fee waived 1096 of contract value per year for death disability financial hardship nursing home medical expenses and terminal illness No Application Fee for Loan Approval 25 00 Fee applies at the time of loan origination Calculated Flat dollar amount None No Transaction Request Fee 10 00 Fee applies Whenever assistance is required in the sale or purchase of a security Calculated Flat dollar amount None No Copy This Product Copy This Product and Investment Options Do NOT Copy e The copy product function allows the user to copy a product or a product and its investment options with all associated fees e Click on Copy This Product to copy a product and all associated fees e Click on Copy This Product and Investment Options to copy a product its investment options and all fees associated with the product and its investment options Either selection brings the user to the Edit Product screen as shown below Teacher Retirement System of Texas 34 Revised October 30 200
14. Add status until submitted to TRS see p 70 TRS will then accept the investment option or return it for additional edits Teacher Retirement System of Texas 46 Revised October 30 2009 403 b Product Registration System User Manual v3 0 D Add Investment Option Asset Based Fee e This screen is accessed by selecting Asset Based Fee from the Investment Option Fees screen Administrative Fee Fee applies Monthly Calculated Annualized percentage e Enter the investment option Fee Name Note There is an 80 character limit including spaces in this text field Enter the Maximum Annualized Fee Percentage you must round to three decimal places For example this fee has a rate of 0 020 that is applied monthly therefore the maximum fee is 0 240 FEE MAXIMUMS Fees may not exceed maximums for the same fee type Submission of asset based fees that exceed 2 75 per year will not be blocked because the weighted average of these fees in combination with other lower fees may not exceed the fee cap However a product with product fees that in combination with the lowest investment option fee exceed 2 75 annually will not be accepted All certified companies are reminded that adequate controls must be in place to ensure that they do not enter into salary reduction agreements or allow investment selections that cause the 2 75 asset based fee to be exceeded Please refer to the warning below WARNING For a qualified investmen
15. Asset Based Fee Fee Name Mortality Fee Mortality Fee Maximum Annualized Fee 0 150 0 15096 Percentage Fee applied Daily as a percentage of average Fee applied Daily as a percentage of average a E OPE daily account walue Calculated Charged daily account walue Calculated Charged pe are the fee waivers breakpoints and caps Be paaee mane daily daily 1s this an optional fee No No Surrender Withdrawal Charge Fee Name Surrender and Withdrawal Surrender and Withdrawal Maximum Annualized Fee 5 000 5 000936 Percentage I Fan et eee Pd Peay I e Select Web List Fee Summary to view fees as they are currently shown on the 403 b Registered Products List e Select Proposed Fee Summary to view fees as they will be shown on the 403 b Registered Products List once changes have been accepted by TRS Teacher Retirement System of Texas 72 Revised October 30 2009 403 b Product Registration System User Manual v3 0 B Compare Previously Accepted Investment Option with Newly Submitted Edits e Select Compare Investment Option from the Investment Option Summary screen to view edits Investment Option Information Investment Option Name Total Protection Benefit Rider Investment Option Number 100 003 001 Investment Option Type Variable Annuity Investment Option Status Active Review Status Pending Edit Last Changed By 100UTOO1 Back End Sales Load
16. M August z e1 z 2008 Total Protection Optional Rider e A discontinued investment option remains available for contributions to existing contracts but new contracts are no longer being offered Note An inactive investment option is no longer available for contributions to existing contracts and new contracts may no longer be offered See section XV subsection C Note Once the submittal to discontinue an investment option on the 403 b Active Products List has been accepted by TRS the investment option will move from the Active Products List to the Discontinued Products List The discontinued investment option can be reinstated at any time by returning to this screen un checking the box next to This product has been discontinued clicking on Save amp Continue and then submitting to TRS for review e f an investment option has been discontinued check the box next to This product has been discontinued e Discontinuation Date Enter the effective date of investment option discontinuation Click on Save amp Continue to save edits Click on Do Not Save to clear entries and return to the Investment Option Information screen Teacher Retirement System of Texas 59 Revised October 30 2009 403 b Product Registration System User Manual v3 0 C Inactivate Investment Option e Inactivate Investment Option on Web List is only visible if a product has previously been accepted and can be access
17. Once a platform investment option fee has been added and saved it will appear at the bottom of the Platform Investment Option Fees screen An example is shown below e Any platform investment option fee will be added to base product fees and the total of all fees are required to be in compliance with TRS RULE 53 3 see Company Guidance on page 2 of this manual Select the Product name to return to the Platform Investment Option Information screen Teacher Retirement System of Texas 79 Revised October 30 2009 403 b Product Registration System User Manual v3 0 B Edit or Remove Platform Investment Option Fees e This screen is accessed by selecting Add Edit or Remove Platform Investment Option Fees from the Platform Investment Option Information screen L neme R100 e Once a platform investment option fee has been added and saved it will appear at the bottom of the Platform Investment Option Information Fees screen e To edit or remove a fee click on the desired fee Note Platform companies may only edit or remove platform product fees e User will be taken to an edit fee screen An example is shown below Teacher Retirement System of Texas 80 Revised October 30 2009 403 b Product Registration System User Manual v3 0 B Edit or Remove Platform Investment Option Fees continued Edit Platform Investment Option Annual Fixed Dollar Fee Company Name User Test Platorm Product TEUL Fee
18. Select Remove Fee to be taken to a Remove Fee screen showing You have successfully removed the fee Note Once a fee is removed it must be re entered in the PRS Remove Investment Option Fee Company Name You have successfully removed the fee 403 b PRS User Manual Fee Name Maximum Annualized Fee Percentage When does the fee apply and how is it calculated What are the fee waivers breakpoints and caps Is this an optional fee Teacher Retirement System of Texas 403 b Product Registration System User Manual v3 0 Investment Option Product Fee Type 100 001 004 Total Protection Optional Rider Pending Add 100 001 UM Product Pending Add Front End Sales Load Sales Charge Based on Purchase Yalue o No List Investment Option Fees 56 Revised October 30 2009 XIV Edit or Remove Investment Option Fees continued e Select Do NOT Remove Fee to return to a partially filled Edit Investment Option Fee Type screen At this partially filled screen select Do NOT Save to return to the Product Fees screen without changing the fee information Sales Charge Based on Purchase Value Note Once investment option fee information is saved it is held in a Pending Add status The fee may be edited until the investment option is submitted to TRS see p 70 TRS will then accept the investment option or return it for additional edits Teacher Retirement System of
19. Type Annual Fixed Dollar Fee Fee Name Platform Contract Fee Maximum Annualized Fee Amount 15 00 Applies Annually at contract anniversary When does the fee apply cael Gann cee eee Calculated Flat dollar amount Limit 300 characters Breakpoint This fee is waived if contract Wheat anesthe f waivers value is greater than 60 000 on the date the po fee is deducted breakpoints and caps Limit 300 characters Is this an optional fee No OYes Internet R 100 e The edit fee screens each edit fee screen is specific to the fee type allow the user to edit the fee name the maximum fee percentage or amount when the fee applies how the fee is calculated and fee waiver breakpoint cap information The user can also change whether or not a fee is optional e Click on Save amp Continue to save changes This brings the user to the Platform Investment Option Information Fee screen showing the updated information Once a platform investment option fee has been edited successfully you will see a message near the top of the page stating Fee was edited successfully as seen in the screen below Platform Investment Option Fee Fee was edited successfully Company Name User Test Platorm 999 P007 403 b PRS User Manual Subaccount Test Fund Product P Ji Add Fee Type Annual Fixed Dollar Fee Fee Name Platform Contract Fee Maximum Annualized Fee Amount 15 00 When does
20. a Remove Fee screen showing You have successfully removed the fee Note Once a fee is removed it must be re entered in the PRS to register a product Remove Fee You have successfully removed the fee Company Name User Test Platorm 999 P007 403 b PRS User Manual Subaccount Test Fund Pending Add Fee Type Annual Fixed Dollar Fee Product Fee Name Platform Contract Fee Maximum Annualized Fee Amount When does the fee apply and how is it calculated What are the fee waivers breakpoints and caps Is this an optional fee No List Fees amp Internet 100 Teacher Retirement System of Texas g2 Revised October 30 2009 403 b Product Registration System User Manual v3 0 B Edit or Remove Platform Investment Option Fees continued e Select Do NOT Remove Fee to return to a partially filled Edit Platform Investment Option Fee Type screen At this partially filled screen select Do Not Save to return to the Platform Investment Option Fees screen without changing the fee information Platform Contract Fee __Save amp Continue Remove nternet R100 Note Once platform investment option fee information is saved it is held in a Pending Add status The fee may be edited until the platform investment option is submitted to TRS see p 91 TRS will then accept the product or return it for additional edits Teacher Retirement System of Texas 83 Revised O
21. accept the product or return it for additional edits Teacher Retirement System of Texas 26 Revised October 30 2009 403 b Product Registration System User Manual v3 0 X Edit Discontinue Inactivate Activate Remove or Copy Product A Edit Product e This screen is accessed by selecting Edit or Discontinue Product from the Product Information screen E E E a e Product Name The product name may be changed in this text box Note There is an 80 character limit including spaces in this text field Note Only the first 20 characters of the product name will initially be displayed on the TRS Web site However users will be able to view the entire product name by placing the cursor over the partial name or selecting the product e Click on Save amp Continue to save edits e Click on Do Not Save to clear entries and return to the Product Information screen Note A product may be edited while in a pending add status Once edits have been submitted to TRS for review the product will go into a pending edit status TRS will then accept the product or return it for additional edits Teacher Retirement System of Texas 27 Revised October 30 2009 403 b Product Registration System User Manual v3 0 B Discontinue Product e This screen is accessed by selecting Edit or Discontinue Product from the Product Information screen lw e A discontinued product remains available for contributions to existing co
22. apply and how is it calculated What are the fee waivers breakpoints and caps Is this an optional fee Subaccount Test Fund 100 015 001 Custodial Account Active Accepted 100UTOO1 Investment Option Name Investment Option Number Investment Option Type Investment Option Status Review Status Last Changed By Asset Based Fee Fee Name Maximum Annualized Fee Percentage When does the fee apply and how is it calculated What are the fee waivers breakpoints and caps Is this an optional fee Compare Platform Investment Option View Platform Investment Option Information Activate Platform Investment Option on Web List Transaction Request Fee 10 00 Fee applies Whenever assistance is required in the sale or purchase of a security Calculated Flat dollar amount None No Investment Option Information Management Fee 0 480 Fee Applies Daily paid monthly Calculated Annualized percentage None No Teacher Retirement System of Texas 403 b Product Registration System User Manual v3 0 87 internet Revised October 30 2009 C Activate Platform Investment Option continued Company Name Certified Product Type Investment Option Name Investment Option Number Investment Option Type Investment Option Status Review Status Last Changed By Annual Fixed Dollar Fee Are you sure you want to submit this platform investment option for activation If approved this pla
23. by selecting Remove Investment Option from the Investment Option Information screen e Click on Remove to remove an investment option from the PRS An investment option may be removed only if it has been entered into the PRS but has not yet been submitted to TRS Note Once an investment option is removed it must be re entered in the PRS to register the investment option e Click on Do Not Remove Investment Option if you do not want to remove an investment option This brings the user to the Edit Investment Option screen Teacher Retirement System of Texas 64 Revised October 30 2009 403 b Product Registration System User Manual v3 0 F Copy Investment Option e This screen is accessed by selecting Copy Investment Option from the Investment Option Information screen Copy Investment Option Company Name 403 b PRS User Manual Investment Option Name Total Protection Optional Rider Investment Option Number 100 003 001 Investment Option Type Variable Annuity Investment Option Status Active Review Status Pending Add Last Changed By 100UTOO1 Back End Sales Load Fee Name Back End Sales Load Fee Maximum Annualized Fee Percentage 2 000 S Fee Schedule 30 days 2 000 60 days 2 000 90 days 2 000 Fee applies To exchanges or redemptions of shares held less than 90 When does the fee apply and how is it calculated days Calculated As a percent of the amount sold based on the l
24. caps established by TRS rule Note Any changes subsequently made to the proprietary product will automatically be reflected in the platform product o Front End Sales Load Fee may not exceed 6 in combination with Back End Sales Load Fees o Back End Sales Load Fee may not exceed 6 in combination with Front End Sales Load Fee o Annual Fixed Dollar Fee may not exceed 50 00 o Asset Based Fee may not exceed 2 75 annually o Surrender Withdrawal Charge may not exceed 10 in the first year must decrease annually in subsequent years and may not continue more than 12 years from contract initiation with years 11 and 12 limited to 1 in each of those years o Loan Application Origination Fee may not exceed 50 00 o Other Fee No established caps e 403 b Product Registration System functionality has been tested in Microsoft Windows XP environment using Internet Explorer v 7 and Firefox 3 5 No other platform or Internet browser has been tested Teacher Retirement System of Texas 2 Revised October 30 2009 403 b Product Registration System User Manual v3 0 Ill Overview of the Process The product registration process is a four step process 1 Companies add all fee information for the product and its investment options if applicable in the PRS and when complete submit it to TRS 2 TRS reviews the product and investment options information compared to the fee maximums established by TRS rule If ther
25. certified company e Enhanced Compare functionality that allows users to 1 View fees as they are currently shown on the 403 b Registered Products List by selecting the Web List Fee Summary function and 2 View fees as they will be shown on the 403 b Registered Products List once changes have been accepted by TRS by selecting the Proposed Fee Summary function Teacher Retirement System of Texas 5 Revised October 30 2009 403 b Product Registration System User Manual v3 0 VI Add Product e From the Main Menu a user may begin adding a new product view lists of products which are registered or are in various stages of being registered or view company information e To begin registration of a 403 b product select Add Product from the list of options located on the left of your screen or from the Main Menu This brings the user to the Add Product screen as shown below Teacher Retirement System of Texas 6 Revised October 30 2009 403 b Product Registration System User Manual v3 0 VI Add Product continued e Product Name Enter the name of the 403 b product to be registered There is an 80 character limit including spaces in this text field Note Only the first 20 characters of the product name will initially be displayed on the TRS Web site However users will be able to view the entire product name by placing the cursor over the partial name or selecting the product e Product Type Click
26. fee has a rate that ranges between 0 450 and 1 000 and is applied at the time of purchase the maximum annualized fee percentage is 1 000 FEE MAXIMUMS Fees may not exceed maximums for the same fee type All product fees and associated investment option fees are aggregated within the same fee type Front end and back end sales loads may not exceed 6 000 in total If a fee exceeds the allowable maximum for a fee type an error message will appear and the fee will not be accepted by the PRS In order for a product to be accepted a fee amount will need to be in compliance with TRS RULE 53 3 Please refer to the warning below WARNING A certified company may charge a front end sales load or back end sales load that in the aggregate does not exceed six percent 6 of the amount identified in the contract as subject to sales load charges such as premiums paid or the price of the fund shares TRS Rule 53 3 c e When does the fee apply and how is it calculated Please be as detailed as possible Note There is a 300 character limit including spaces e What are the fee waivers breakpoints and caps Please be as detailed as possible Note There is a 300 character limit including spaces Teacher Retirement System of Texas 10 Revised October 30 2009 403 b Product Registration System User Manual v3 0 A Add Product Front End Sales Load Fee continued e Click on Yes if this is an optional fee An optional fee is for an additional
27. fees and associated investment option fees are aggregated within the same fee type If a fee exceeds the allowable maximum for a fee type an error message will appear and the fee will not be accepted by the PRS In order for a product to be accepted a fee amount will need to be in compliance with TRS RULE 53 3 Please refer to the warning below WARNING A certified company may charge a loan initiation fee of no more than 50 00 This subsection does not prohibit a company from charging interest on a loan in addition to a loan initiation fee If the investment product is an annuity contract loan terms must comply with applicable requirements of insurance laws including Article 3 44c Insurance Code TRS Rule 53 3 g e When does the fee apply and how is it calculated Please be as detailed as possible Note There is a 300 character limit including spaces e What are the fee waivers breakpoints and caps Please be as detailed as possible Note There is a 300 character limit including spaces Teacher Retirement System of Texas 20 Revised October 30 2009 403 b Product Registration System User Manual v3 0 F Add Product Loan Application Origination Fee continued e Click on Yes if this is an optional fee An optional fee is for an additional optional provision or benefit such as a living benefit option which may be chosen by the customer at an additional cost e Click on Save amp Continue to save this fee This bri
28. illness Is this an optional fee No What are the fee waivers breakpoints and caps Loan pplication Origination Fee Fee Name Application Fee for Loan Approval Maximum Annualized Fee Amount 25 00 when does the fee apply and how is it calculated Pia at the time of loan origination Calculated Flat dollar what are the fee waivers breakpoints and caps None Is this an optional fee No Compare Product TRS will receive automated notification that the information is ready for inactivation on the Web List After review is completed TRS will move the information to the Inactive List or will communicate with the company regarding the need for revision If you want to include a message in the e mail notification being sent to TRS enter it here Submit for Inactivation Not Ready for Submission e Click on Submit for inactivation to submit an investment option Note Once the submittal to inactivate an investment option on the 403 b Active Products List has been accepted by TRS the investment option will move from the Active Products List to the Inactive Products List The investment option can be reactivated at any time by submitting an Activation request The 403 b Inactive Products List also includes products and investment options that have been suspended or revoked by TRS or products that were offered by companies that are no longer certified e Click on Not Ready for Submission if you do not want to su
29. investment option to be taken to the Investment Option Information screen as shown below e Click on Do Not Save to return to the Investment Option screen without adding a new investment option Note Once an investment option is saved the investment option is held in a Pending Add status until investment option fees are submitted to TRS see p 70 TRS will then accept the investment option or return it for additional edits Teacher Retirement System of Texas 38 Revised October 30 2009 403 b Product Registration System User Manual v3 0 XII Access Investment Option Information e This screen is accessed by selecting an investment option from the Product List e The Investment Option Information screen identifies an Investment Option Number 100 001 001 assigned to this investment option The Investment Option Number links an Investment Option to the associated product by adding three 3 digits to the product number For example the investment options associated with product number 200 001 will be identified as 200 001 001 200 001 002 200 001 003 and so on The Investment Option Status Active the Review Status Pending Add and the User ID of the person who made the last change 100UT001 are also shown e This screen also provides access to various other screens that allow actions such as adding editing copying removing investment option fees and removing an investment option from the PRS Note If user has lo
30. on my personal knowledge all of the information is true and accurate When a company submits product registration information TRS receives automated notification that the information is ready for review After review is completed TRS will post the information to its Web site or will communicate with the company regarding the need for revision If you want to include a message in the e mail notification being sent to TRS enter it here Submit for Review Not Ready for Submission Internet R100 Note User will be asked to certify that all information that is being submitted is true and accurate Teacher Retirement System of Texas 69 Revised October 30 2009 403 b Product Registration System User Manual v3 0 XIX Submit Investment Option for TRS Review Investment Option Information Company Name 403 b PRS User Manual Product 100 001 UM Product Pending Add Product Type Variable Annuity Investment Option Name Total Protection Optional Rider Investment Option Number 100 001 004 Investment Option Status Active Review Status Pending Add Last Changed By 100UTO001 Remove Investment Option Copy Investment Option vi I Opti 5 Submit Investment Option for TRS Review e Select Submit Investment Option for TRS Review on the Investment Option Information screen to submit an investment option e This screen also provides access to various other screens that allow actions such as addin
31. on the drop down arrow and select one of the four product types Fixed Annuity Variable Annuity Equity Based Index Annuity or Custodial Account e Click on Save amp Continue to save this product This brings the user to the Product Information screen e Click on Do Not Save to clear entries This brings the user to the Product List screen Note Once product information is saved it is held in a Pending Add status until submitted to TRS see p 69 TRS will then accept the product or return it for additional edits Teacher Retirement System of Texas 7 Revised October 30 2009 403 b Product Registration System User Manual v3 0 VII Access Product Information e This screen is accessed by selecting Save and Continue on the Add Product screen or by selecting a product from the Product List e The Product Information screen identifies the Product Number 100 001 assigned to this product The Product Status Active the Review Status Pending Add and the User ID of the person who made the last change 100UT001 are also shown e This screen provides access to various other screens that allow actions such as adding editing copying removing product fees or investment options and removing a product from the PRS Note If a user has logged into the PRS and needs to access the Product Information screen select List All Products from the menu bar on the left side of the screen Click on the desired product to be
32. optional provision or benefit such as a living benefit option which may be chosen by the customer at an additional cost e Click on Save amp Continue to save this fee This brings the user to the Product Fee screen e Click on Do Not Save to clear entries This brings the user to the Product Fee screen Note Once product fee information is saved it is held in a Pending Add status until the product is submitted to TRS see p 69 TRS will then accept the product or return it for additional edits Once a product fee has been added successfully you will see a message stating Product fee was added successfully as seen in the screen below Teacher Retirement System of Texas 11 Revised October 30 2009 403 b Product Registration System User Manual v3 0 B Add Product Back End Sales Load Fee e This screen is accessed by selecting Back End Sales Load from the Product Fees screen Add Produ Fee Name Maximum Annualized Company Name Product Fee Percentage ct Back End Sales Load 403 b PRS User Manual 100 001 UM Product Pending Add Sales Charge Based on Time Held fi 000 o hoo go year To contract Fee applies after contract initiation value for one year When does the fee apply Calculated As a percent and how is it calculated contract is less than one Limit 300 characters of the amount sold if year Screen continued below Fee Name Sal
33. taken to the Product Information screen Teacher Retirement System of Texas Revised October 30 2009 403 b Product Registration System User Manual v3 0 VIII Add Product Fees Also applies to Platform Product Fees e This screen is accessed by selecting Add Edit or Remove Product Fees on the Product Information screen To add a product fee select the fee type to be added and complete all required fields Once a product fee has been added and saved it will appear at the bottom of the Product Fees screen All product fees are required to be in compliance with TRS RULE 53 3 see Company Guidance on page 2 of this manual Select the Product name to return to the Product Information screen Teacher Retirement System of Texas 9 Revised October 30 2009 403 b Product Registration System User Manual v3 0 A Add Product Front End Sales Load Fee e This screen is accessed by selecting Front End Sales Load from the Product Fees screen Sales Charge Based on Purchase Value Fee applies Salary contribution is received with a rate ranging between 0 450 and 1 000 based on the amount contributed Calculated As a percentage of the amount contributed This fee is waived in part by the selling agent e Enter the product Fee Name Note There is an 80 character limit including spaces in this text field e Enter the Maximum Annualized Fee Percentage you must round to three decimal places For example this
34. the fee apply Applies Annually at contract anniversary Calculated Flat and how is it calculated dollar amount What are the fee waivers Breakpoint This fee is waived if contract value is greater breakpoints and caps than 60 000 on the date the fee is deducted Is this an optional fee No List Fees Internet R100 Teacher Retirement System of Texas g1 Revised October 30 2009 403 b Product Registration System User Manual v3 0 B Edit or Remove Platform Investment Option Fees continued e Click on Do Not Save to return to the Platform Investment Option Fees screen without changing fee information e Click on Remove to remove the fee Clicking on Remove will generate a warning asking Are you sure you want to remove this fee Remove Fee Are you sure you want to remove this fee Company Name User Test Platorm 999 P007 403 b PRS User Manual Subaccount Test Fund Pending Product Ad Fee Type Annual Fixed Dollar Fee Fee Name Platform Contract Fee Maximum Annualized Fee Amount 15 00 When does the fee apply and how is it calculated Applies Annually at contract anniversary Calculated Flat dollar amount What are the fee waivers Breakpoint This fee is waived if contract value is greater than 60 000 breakpoints and caps on the date the fee is deducted Is this an optional fee No Do NOT Remove Fee Internet 100 e Select Remove Fee to be taken to
35. 0 based on the amount contributed Calculated As a and how is it calculated P percentage of the amount contributed What are the fee waivers breakpoints and caps This fee is waived in part by the selling agent Is this an optional fee No Remove Fee Do NOT Remowe Fee e Select Remove Fee to be taken to a Remove Fee screen showing You have successfully removed the fee Note Once a fee is removed it must be re entered in the PRS Remove Fee You have successfully removed the fee Company Name 403 b PRS User Manual Product 100 001 UM Product Pending Add Fee Type Front End Sales Load Fee Name Sales Charge Based on Purchase Value Maximum Annualized Fee Percentage o When does the fee apply and how is it calculated What are the fee waivers breakpoints and caps Is this an optional fee No Teacher Retirement System of Texas 25 Revised October 30 2009 403 b Product Registration System User Manual v3 0 IX Edit or Remove Product Fees continued e Select Do NOT Remove Fee to return to a partially filled Edit Product Fee Type screen At this partially filled screen select Do NOT Save to return to the Product Fees screen without changing the fee information Sales Charge Based on Purchase Value Note Once product fee information is saved it is held in a Pending Add status The fee may be edited until the product is submitted to TRS see p 69 TRS will then
36. 9 403 b Product Registration System User Manual v3 0 F Copy Product continued E IIN a e The product name must be modified This new product name may be saved by selecting Save and Continue This brings the user to the Product Information Screen e Once the product or the product and its investment options are copied and renamed the user may make changes that are specific to the newly copied product and investment options For example fee names amounts and descriptions may all be modified e Click on Do NOT Copy if a product copy is not wanted This brings the user back to the Product Information screen Teacher Retirement System of Texas 35 Revised October 30 2009 403 b Product Registration System User Manual v3 0 XI Add Investment Option e This function is accessed from the Product Information Screen e From the menu bar on the left side of the screen or the Main Menu select List All Products Click on the product name to be taken to the Product Information screen e From the Product Fee screen click on the Product name to return to the Product Information screen e Click on the link Add Edit or Remove Investment Options on the Product Information screen to be taken to the Investment Options screen shown below Teacher Retirement System of Texas 36 Revised October 30 2009 403 b Product Registration System User Manual v3 0 XI Add Investment Option continued Invest
37. A G for examples 79 A Add Platform Investment Option Fees 79 B Edit or Remove Platform Investment Option Fees 80 Discontinue Inactivate Activate or Remove Platform Investment Option 84 A Discontinue Platform Investment Option 84 B Inactivate Platform Investment Option 85 C Activate Platform Investment Option 87 D Remove Platform Investment Option 89 View amp Submit Platform Investment Option Functions View Platform Investment Option Summary 90 Submit Platform Investment Option for TRS Review 91 Compare Accepted Platform Investment Options with New Edits Compare Previously Accepted Platform Investment Option with Newly Submitted Edits 92 Menu Bar List of Options 94 403 b Product Registration System User Manual v3 0 Revised October 30 2009 403 b Product Regi
38. C Add Product Annual Fixed Dollar Fee e This screen is accessed by selecting Annual Fixed Dollar Fee from the Product Fees screen 30 00 Applies Annually at contract anniversary Calculated Flat dollar amount Breakpoint This fee is waived if contract value lt is greater than 50 000 on the date the fee is deducted e Enter the product Fee Name Note There is an 80 character limit including spaces in this text field e Enter the Maximum Annualized Fee Amount For example this fee has a flat dollar amount of 30 00 that is applied on an annual basis for the duration of the contract the maximum fee is 30 00 FEE MAXIMUMS Fees may not exceed maximums for the same fee type All product fees and associated investment option fees are aggregated within the same fee type If a fee exceeds the allowable maximum for a fee type an error message will appear and the fee will not be accepted by the PRS In order for a product to be accepted a fee amount will need to be in compliance with TRS RULE 53 3 Please refer to the warning below WARNING A certified company may charge an annual fixed dollar fee of no more than 50 00 per year per qualified investment product contract policy or account A fixed dollar fee is not dependent on account values loan amounts or any other amount for its determination TRS Rule 53 3 d Teacher Retirement System of Texas 14 Revised October 30 2009 403 b Product Registration Syste
39. Fee Name Back End Sales Load Fee Maximum Annualized Fee Percentage 2 000 Fee Schedule 20 days 2 000 60 days 2 000 90 days 2 00096 Fee applies To exchanges or redemptions of shares held less than 90 When does the fee apply and how is it calculated days Calculated As a percent of the amount sold based on the length of time held What are the fee waivers breakpoints and caps Fee is waived in school districts with 50 or more participants Is this an optional fee No Asset Based Fee Fee Name Administrative Fee Maximum Annualized Fee Percentage 0 350 when does the fee apply and how is it calculated Fee applies Monthly Calculated Annualized percentage What are the fee waivers breakpoints and caps None Is this an optional fee No Surrender Withdrawal Charge Fee Name Option Surrender and Withdrawal Maximum Annualized Fee Percentage 1 00096 Fee Schedule 1 year 1 000 2 years 0 750 3 years 0 500 4 years 0 250 Screen continued below What are the fee waivers breakpoints and caps Fee is waived in school districts with 50 or more participants Is this an optional fee No Asset Based Fee Fee Name Administrative Fee Maximum Annualized Fee Percentage 0 35096 When does the fee apply and how is it calculated Fee applies Monthly Calculated Annualized percentage What are the fee waivers breakpoints and caps None Is this an optional fee No Surrender Withdrawal Charge Fee Name Op
40. However other fees will be reviewed by TRS to ensure they are not misclassified e When does the fee apply and how is it calculated Please be as detailed as possible Note There is a 300 character limit including spaces e What are the fee waivers breakpoints and caps Please be as detailed as possible Note There is a 300 character limit including spaces e Click on Yes if this is an optional fee An optional fee is for an additional optional provision or benefit such as a living benefit option which may be chosen by the customer at an additional cost Teacher Retirement System of Texas 22 Revised October 30 2009 403 b Product Registration System User Manual v3 0 G Add Product Other Fee continued e Click on Save amp Continue to save this fee This brings the user to the Product Fees screen e Click on Do Not Save to clear entries This brings the user to the Product Fees screen Note Once product fee information is saved it is held in a Pending Add status until the product is submitted to TRS see p 69 TRS will then accept the product or return it for additional edits IX Edit or Remove Product Fees e This screen is accessed by selecting Add Edit or Remove Product Fees from the Product Information screen e Once a product fee has been added and saved it will appear at the bottom of the Product Fees screen e To edit or remove a fee click on the desired fee e User will be taken to a
41. ING EDIT 1 TRS reviews TRS reviews new changes to an Company user submits product submitted to Company user submits existing product new product to TRS for TRS and returns to changes to an existing submitted to TRS review company user for product to TRS for review and returns to y revisions company user for SUBMITTED revisions BMITTED NEW a EXISTING i y TRS accepts changes to TRS accepts new product TRS denies new an existing product submitted by company product submitted by submitted by company user company user user y y ACCEPTED DENIED ACCEPTED published to the published to the Web Web Teacher Retirement System of Texas 403 b Product Registration System User Manual v3 0 Revised October 30 2009 IV Accessing the Product Registration System A Logging In e The Teacher Retirement System of Texas TRS 403 b Product Registration System PRS may be accessed from the following web site address https oapi trs state tx us FOTB do login e Logging into the PRS requires a User ID and Password B Obtaining a User ID and Password e Acertified company must complete an Application for 403 b Product Registration form TRS 634 and submit the form along with the 3 000 product registration fee to TRS TRS will then send an email containing the User ID and Password to each designated Web Site Maintenance User You may print a copy of the TRS 634 form by going to http www trs state tx us global jsp
42. Investment Option Status Accepted Platform Investment Option Summary Platform Investment Option Information User Test Platorm No Proprietary Products 403 b PRS User Manual Subaccount Test Fund 999 P007 Custodial Account Inactive Review Status Last Changed By Accepted S99UPOO01 Annual Fixed Dollar Fee Fee Name Maximum Annualized Fee Amount When does the fee apply and how is it calculated What are the fee waivers breakpoints and caps Is this an optional fee Platform Contract Fee 15 00 Applies Annually at contract anniversary Calculated Flat dollar amount Breakpoint This fee is waived if contract value is greater than 60 000 on the date the fee is deducted No Asset Based Fee Fee Name Maximum Annualized Fee Percentage When does the fee apply and how is it calculated What are the fee waivers breakpoints and caps Is this an optional fee Management Fee 0 030 Fee applied Daily as a percentage of average daily account value Calculated Charged monthly None No Product Information Done Screen continued below When does the fee apply and how is it calculated What are the fee waivers breakpoints and caps Is this an optional fee Internet R 100 cS Fee applies at the time of loan origination Calculated Flat dollar amount None No Other Fee Fee Name Maximum Annualized Fee Amount When does the fee
43. L 9 00 oe cs ee am _ e _ a _ d m lt or oe o l l internet R100 gt e Select Web List Fee Summary to view fees as they are currently shown on the 403 b Registered Products List e Select Proposed Fee Summary to view fees as they will be shown on the 403 b Registered Products List once changes have been accepted by TRS Teacher Retirement System of Texas 93 Revised October 30 2009 403 b Product Registration System User Manual v3 0 XXIX Menu Bar List of Options Main Menu Add Product Add Platform Product View Web List List All Products List Pending Products List Submitted Products List Denied Products Company Information Change Password 403 b Product Registration Manual 403 b Certification amp Product Registration View 403 b Registered Products Need Help Log out Teacher Retirement System of Texas List of options provided after logging into the PRS Provides links to take several actions such as add a product view product or company information The initial screen for product registration The initial screen for certified platform companies to register products that are currently registered by another certified company List of all accepted products List of all products in edit status such as Accepted Pending Add Pending Edit Submitted New Submitted Existing
44. Products and then select the previously inactivated product that now needs to be activated A XO 27 m aa 403 b PRS User Manual Annuity Copy Product 100 003 Variable Annuity Inactive Accepted 100UTOOL Company Name Certified Product Type Product Name Product Number Product Type Product Status Review Status Last Changed By Accepted Product Summary Product Information Ay x Back End Sales Load Fee Name Maximum Annualized Fee Percentage Fee Schedule When does the fee apply and how is it calculated What are the fee waivers breakpoints and caps Is this an optional fee Sales Charge Based on Time Held 1 000 30 days 1 000 60 days 1 000 90 days 1 000 i year 1 000 Fee applies To contract value for one year after contract initiation Calculated As a percent of the amount sold if contract is less than one year Fee is waived in school districts with 50 or more participants No Annual Fixed Dollar Fee Fee Name Maximum Annualized Fee Amount When does the fee apply and how is it calculated Done Screen continued below O O WA AKO a sa We When does the fee apply and how is it calculated What are the fee waivers breakpoints and caps Is this an optional fee Contract Fee 35 00 Applies Annually at contract anniversary Calculated Flat dollar amount Rreaknoint Th pe ic SA 5 contract sahie ie nrant
45. Teacher Retirement System of Texas 403 b Product Registration System User Manual Version 3 0 Revised October 30 2009 Table of Contents Section Number Page General Information Introduction 1 Il Company Guidance 2 Ill Overview of the Process 3 IV Accessing the Product Registration System 4 A Logging IN 4 B Obtaining a User ID and Password 4 C Password Guidance 5 V What s New Version 3 0 5 Proprietary Products and Product Fees How to VI Add Product 6 VII Access Product Information
46. Texas 57 Revised October 30 2009 403 b Product Registration System User Manual v3 0 XV Edit Discontinue Inactivate Activate Remove or Copy Investment Option A Edit Investment Option e This screen is accessed by selecting Edit or Discontinue Investment Option from the Investment Option Information screen m Total Protection Optional Rider e Investment Option Name The investment option may be changed in this text box Note There is an 80 character limit including spaces in this text field Note Only the first 20 characters of the investment option name will initially be displayed on the TRS Web site However users will be able to view the entire investment option name by placing the cursor over the partial name or selecting the product e Click on Save amp Continue to save edits e Click on Do Not Save to clear entries and return to the Investment Option Information screen Note An investment option may be edited while in a Pending Add status Once edits have been submitted to TRS for review the investment option will go into a Pending Edit status TRS will then accept the investment option or return it for additional edits Teacher Retirement System of Texas 58 Revised October 30 2009 403 b Product Registration System User Manual v3 0 B Discontinue Investment Option This screen is accessed by selecting Edit or Discontinue Investment Option from the Investment Option Information screen
47. What are the fee waivers breakpoints and caps This fee is waived in part by the selling agent Is this an optional fee No When does the fee apply and how is it calculated Back End Sales Load Fee Name Maximum Annualized Fee Percentage Fee Schedule Sales Charge Based on Time Held 1 000 30 days 1 000 60 days 1 000 90 days 1 000 1 year 1 000 Fee applies To contract value for one year after contract initiation When does the fee apply and how is it calculated Calculated As a percent of the amount sold if contract is less than Investment option fees are also grouped by fee type and can be viewed towards the bottom of the screen as shown in the screen below Investment Option Information z Investment Option Name Total Protection Optional Rider Investment Option Number 100 001 004 Investment Option Type Variable Annuity Active Pending Add 100UTOO1 Investment Option Status Review Status Last Changed By Back End Sales Load Fee Name Maximum Annualized Fee Percentage Fee Schedule Back End Sales Load Fee 2 000 30 days 2 000 60 days 2 000 90 days 2 000 Fee applies To exchanges or redemptions of shares held less than 90 days Calculated As a percent of the amount sold based on the length of time held What are the fee waivers breakpoints and caps Fee is waived in school districts with 50 or more participants Is this an optional fee No When does the fee apply
48. activate Product on nnn nn nnn nn nnn nn nnn nen en nenen nnn nn nen cnnen senna nensensacensans 29 D Activate Product 0 nnn nn nnn nnn nn nen nn nen non nn nennnnnncennnnnnnnnnnnnnencensanncnanne 31 E Remove Product on nnn nn nnn nn nen nen nn nen nn nen con en nnnnn nnn nann 33 F Copy Product 20 nn nnn nn nnn nn nnn n nn nn nnn nn nnn nn ne nnn nace nnn nanan nana nn nnn nnnnnne 34 Proprietary Investment Options and Investment Option Fees How to Xl Add Investment Option 36 XII Access Investment Option Information 39 XIII Add Investment Option Fees 40 A Add Investment Option Front End Sales Load Fee 41 B Add Investment Option Back End Sales Load Fee 43 C Add Investment Option Annual Fixed Dollar Fee 45 D Add Investment Option Asset Based Fee 47 E Add Investment Option Surrender Withdrawal Charge
49. alized Fee Percentage you must round to three decimal places For example this fee has a rate of 0 00041 that is applied daily therefore the maximum fee is 0 150 FEE MAXIMUMS Fees may not exceed maximums for the same fee type Submission of asset based fees that exceed 2 75 per year will not be blocked because the weighted average of these fees in combination with other lower fees may not exceed the fee cap However a product with product fees that in combination with the lowest investment option fee exceed 2 75 annually will not be accepted All certified companies are reminded that adequate controls must be in place to ensure that they do not enter into salary reduction agreements or allow investment selections that cause the 2 75 asset based fee to be exceeded Please refer to the warning below WARNING For a qualified investment product other than an annuity contract and for the portion of an annuity contract that consists of a variable account a certified company may assess a charge of no more than 2 75 percent annually of the total value of assets in the employee s variable annuity contract account or other investment product account TRS Rule 53 3 e Teacher Retirement System of Texas 16 Revised October 30 2009 403 b Product Registration System User Manual v3 0 D Add Product Asset Based Fee continued e When does the fee apply and how is it calculated Please be as detailed as possible Note There is a 300 character li
50. and how is it calculated Annual Fixed Dollar Fee Fee Name Maximum Annualized Fee Amount Management Fee 15 00 Fee Applies To assets held on January 1 each year Calculated Flat dollar amount Breakpoint This fee is waived if asset value is greater than 10 000 on January 1 No za When does the fee apply and how is it calculated What are the fee waivers breakpoints and caps Is this an optional fee Asset Based Fee Fee Name Administrative Fee Maximum Annualized Fee Percentage 0 240 When does the fee apply and how is it calculated Fee applies Monthly Calculated Annualized percentage What are the fee waivers breakpoints and caps None Is this an optional fee No Teacher Retirement System of Texas 403 b Product Registration System User Manual v3 0 68 Revised October 30 2009 XVIII Submit Product for TRS Review Product Information Company Name 403 b PRS User Manual Product Name UM Product Product Number 100 001 Product Type Variable Annuity Product Status Active Review Status Pending Add Last Changed By 100UTOO1 Add Edit or Remove Product Fees add Edi R I Opti Edi Di p e Select Submit Product for TRS Review on the Product Information screen to submit a product e This screen also provides access to various other screens that allow actions such as adding editing copying or removing product fees or investment options Note Once a product is submitted no fur
51. atform Contract Fee Maximum Annualized Fee Amount 15 00 10 00 When does the fee apply and how is it calculated Applies Annually at contract anniversary Calculated Flat dollar amount Applies Annually at contract anniversary Calculated Flat dollar amount What are the fee waivers breakpoints and caps Breakpoint This fee is waived if contract fee is deducted value is greater than 60 000 on the date the Breakpoint This fee is waived if contract value is greater than 60 000 on the date the fee is deducted Is this an optional fee No No Asset Based Fee Fee Name Management Fee Management Fee Maximum Annualized Fee Percentage 0 030 0 030 When does the fee apply and how is it calculated daily account value Calculated Charged monthly Fee applied Daily as a percentage of average Fee applied Daily as a percentage of average daily account value Calculated Charged monthly 2 eee al internet 100 Screen continued below C a a a Product Number 999 POD7 299 P007 Product Type Custodial Account Custodial Account Product Status Active Active Review Status Accepted Pending Edit Last Changed By 999UP001 999UP001 Annual Fixed Dollar Fee Fee Name l Maximum Annualized Fee Amount When does the fee apply and how i
52. atform Investment Option fees are grouped by fee type and can be viewed at the top of the screen Teacher Retirement System of Texas 90 Revised October 30 2009 403 b Product Registration System User Manual v3 0 XXVII Submit Platform Investment Option for TRS Review Company Name Platform Product Name Platform Investment Option Name Base Investment Option Number Platform Investment Option Number Product Type Platform Investment Option Status Review Status Last Changed By Platform Investment Option Information User Test Platorm 403 b PRS User Manual Subaccount Test Fund 403 b PRS User Manual Subaccount Test Fund 100 015 001 999 P007 Custodial Account Active Pending Add 999UPO0O01 Add Edit or Remove Platform Investment Option Fees Discontinue Platform Investment Option Remove Platform Investment Option View Platform Investment Option Summary Submit Platform Investment Option for TRS Review Internet R 100 e Select Submit Platform Investment Option for TRS Review on the Platform Investment Option Information screen to submit a Platform Investment Option e This screen provides access to various other screens that allow actions such as adding editing or removing platform investment option fees and discontinuing or removing platform investment options Note Once a platform investment option is submitted no further changes may be made until TRS accepts or returns the platform inve
53. ath disability financial hardship nursing home medical expenses and terminal illness No Loan Application Origination Fee Fee Name Maximum Annualized Fee Amount What are the fee waivers breakpoints and caps Is this an optional fee regarding the need for revision When does the fee apply and how is it calculated Application Fee for Loan Approval 20 00 Fee applies at the time of loan origination Calculated Flat dollar amount None No Compare Product TRS will receive automated notification that the information is ready for activation on the Web List After review is completed TRS will move the information to the Active Products List or will communicate with the company If you want to include a message in the e mail notification being sent to TRS enter it here Submit for Activation Not Ready for Submission Done amp S Local intranet e Click on Submit for Activation to submit an investment option Note Once the submittal to activate an investment option on the 403 b Active Products List has been accepted by TRS the investment option will move from the Inactive Products List to the Active Products List e Click on Not Ready for Submission if you do not want to submit an investment option for activation This brings the user to the Product Information screen 63 Revised October 30 2009 E Remove Investment Option e This screen is accessed
54. bmit an investment option for inactivation This brings the user to the Investment Option Information screen Teacher Retirement System of Texas 61 Revised October 30 2009 403 b Product Registration System User Manual v3 0 D Activate Investment Option e Activate Investment Option on Web List is only visible if an investment option has previously been accepted and inactivated Go to the Main Menu screen click on List All Products and then select the previously inactivated investment option that now needs to be activated O Oo HAD Ake 2 3 ma W De Investment Option Information a Investment Option Name Total Protection Benefit Rider Investment Option Number 100 003 001 Investment Option Type Variable Annuity Investment Option Status Inactive Review Status Accepted Last Changed By 1OOUTOOi1 Back End Sales Load Fee Name Back End Sales Load Fee Maximum Annualized Fee Percentage 2 000 Fee Schedule 30 days 2 000 60 days 2 000 90 days 2 000 Fee applies To exchanges or redemptions of shares held less than When does the fee apply and how is it calculated 90 days Calculated As a percent of the amount sold based on the length of time held What are the fee waivers breakpoints and caps Fee is waived in school districts with 50 or more participants Is this an optional fee No Asset Based Fee Fee Name Administrative Fee Maximum Annualized Fee Percentage 0 350 When does the fee apply and how is it ca
55. ctober 30 2009 403 b Product Registration System User Manual v3 0 XXV Discontinue Inactivate Activate or Remove Platform Investment Option A Discontinue Platform Investment Option e This screen is accessed by selecting Discontinue Platform Investment Option from the Platform Investment Option Information screen Save amp Continue Done Blase as internet R100 e A discontinued platform investment option remains available for contributions to existing contracts but new contracts may no longer be offered Note An inactive platform investment option is no longer available for contributions to existing contracts and new contracts may no longer be offered See section XXV subsection B Note Once the submittal to discontinue a platform investment option on the 403 b Active Products List has been accepted by TRS the platform investment option will move from the Active Products List to the Discontinued Products List The discontinued platform investment option can be reinstated at any time by returning to this screen un checking the box next to This product has been discontinued clicking on Save amp Continue and then submitting to TRS for review e If the platform investment option has been discontinued check the box next to This product has been discontinued e Discontinuation Date Enter the effective date of platform investment option discontinuation e Click on Save amp Continue
56. currently shown on the 403 b Registered Products List e Select Proposed Fee Summary to view fees as they will be shown on the 403 b Registered Products List once changes have been accepted by TRS Teacher Retirement System of Texas 74 Revised October 30 2009 403 b Product Registration System User Manual v3 0 XXI Add Platform Product e From the Main Menu a user may begin adding a new platform product view lists of products which are registered or are in various stages of being registered or view company information e Note the option to Add Platform Product is only visible if a company has been certified as a platform company Lo nene R100 e To begin registration of a 403 b platform product select Add Platform Product from the list of options located on the left of your screen or from the Main Menu This brings the user to the Add Platform Product screen as shown below Teacher Retirement System of Texas 75 Revised October 30 2009 403 b Product Registration System User Manual v3 0 XXI Add Platform Product continued internet 100 Base Product Number Enter the number of the 403 b registered product Click on View 403 b Registered Products to open another window that brings the user to the Search 403 b Products page on the TRS web site The user may search the products list to identify the product number of the product to be added Click on Continue
57. d October 30 2009 403 b Product Registration System User Manual v3 0 E Add Investment Option Surrender Withdrawal Charge e This screen is accessed by selecting Surrender Withdrawal Charge from the Investment Option Fees screen Edit Investment Option Surrender Withdrawal Charge Company Name 403 b PRS User Manual Investment Option 100 003 001 Total Protection Optional er Pend Add Product 100 003 Copy Product Accepted Fee Name Option Surrender and Withdrawal Maximum Annualized Fee Percentage f1 000 o Surrender Surrender Withdrawal Withdrawal Charge Period 0 250 o years ooo ee ee ee ee ee myers rE ayeas The charge depends on how long this investment Screen continued below Withdrawal Withdrawal Charge Period Ooo ee ee ee ee Ooo ee ee yeas ooo o e o years ee ee o syas mm ayeas mad years ma years The charge depends on how long this investment option has been held The amount of withdrawal charges assessed against the contract will not exceed 1 of total assets held under the contract When does the fee apply and how is it calculated Limit 300 characters Fee waived Fully waived for death disability financial hardship nursing home medical expenses and terminal illness What are the fee waivers breakpoints and caps Limit 300 characters Is this an optional fee No Yes Save amp Continue Do Not Save R
58. e Fee Name Maximum Annualized Fee Amount When does the fee apply and how is it calculated Screen continued below When does the fee apply and how is it calculated What are the fee waivers breakpoints and caps Is this an optional fee Loan Application Origination Fee Fee Name Maximum Annualized Fee Amount When does the fee apply and how is it calculated What are the fee waivers breakpoints and caps Is this an optional fee Other Fee Fee Name Maximum Annualized Fee Amount When does the fee apply and how is it calculated Pending Product Summary Product Information Sales Charge Based on Time Held 1 000 30 days 1 000 60 days 1 000 90 days 1 000 1 year 1 000 Fee applies To contract value for one year after contract initiation Calculated As a percent of the amount sold if contract is less than one year Fee is waived in school districts with 50 or more participants No Contract Fee 30 00 Applies Annually at contract anniversary Calculated Flat dollar amount 4 years 3 500 za 5 years 3 000 6 years 2 500 7 years 2 000 8 years 1 5009 9 years 1 000 10 years 0 500 The amount of the charge will depend on how long your contract has been in effect This fee has a rate that ranges between 0 500 and 5 000 and is applied annually The amount of withdrawal charge assessed against the contract will not exceed 5 of purchase payments u
59. e are questions or concerns TRS contacts the company 3 Companies respond with additional information to clarify or modify information in response to TRS questions 4 TRS determines whether the product is accepted Any product that TRS determines is not in compliance with TRS rules will not be accepted by TRS Accepted products will be displayed to the public in two ways on the TRS Web site a The maximum aggregate of the fees by fee category asset based fees or front end sales load for example will be displayed for all TRS accepted products This display will exclude fees for optional benefits b The fee detail for each product including fees for optional benefits will be displayed by selecting the product The following diagram on the left shows how the registration process works for adding a new product Products may be added only during the two established registration periods November 1 through December 15 and May 1 through June 15 The diagram on the right shows a similar process for required changes to products that have already been accepted by TRS Changes to accepted products may be submitted to TRS at any time Company user changes an existing Company user adds a new product ACCEPTED product y y PENDING ADD PEND
60. e will not be accepted by the PRS In order for a product to be accepted a fee amount will need to be in compliance with TRS RULE 53 3 Please refer to the warning below WARNING A certified company may charge a front end sales load or back end sales load that in the aggregate does not exceed six percent 6 of the amount identified in the contract as subject to sales load charges such as premiums paid or the price of the fund shares TRS Rule 53 3 c e When does the fee apply and how is it calculated Please be as detailed as possible Note There is a 300 character limit including spaces What are the fee waivers breakpoints and caps Please be as detailed as possible Note There is a 300 character limit including spaces Click on Yes if this is an optional fee An optional fee is for an additional optional provision or benefit such as a living benefit option which may be chosen by the customer at an additional cost Click on Save amp Continue to save this fee This brings the user to the Product Fees screen Click on Do Not Save to clear entries This brings the user to the Product Fees screen Note Once product fee information is saved it is held in a Pending Add status until the product is submitted to TRS see p 69 TRS will then accept the product or return it for additional edits Teacher Retirement System of Texas 13 Revised October 30 2009 403 b Product Registration System User Manual v3 0
61. ed from the Investment Option Information screen e To inactivate an investment option on the 403 b Active Products List select Inactivate Investment Option on Web List from the Investment Option Information screen e An inactive investment option is not available for contributions to existing contracts and new contracts may no longer be offered Note A discontinued investment option remains available for contributions to existing contracts but new contracts may no longer be offered See section XV subsection B Note If user has logged into the PRS and needs to access the Investment Option Information screen select List All Products from the menu bar on the left side of the screen Click on the desired Investment Option to be taken to the Investment Option Information screen Teacher Retirement System of Texas 60 Revised October 30 2009 403 b Product Registration System User Manual v3 0 C Inactivate Investment Option continued Submit Inactivation on Web List Are you sure you want to submit this investment option for inactivation on the VWeb List If approved this investment option and all fees associated with it will be moved to the Inactive List Company Name 403 b PRS User Manual Investment Option Name Total Protection Optional Rider Investment Option Number 100 003 001 Investment Option Type Variable Annuity Investment Option Status Active Review Status Accepted Last Changed By 100UTOO1 Bac
62. emove Teacher Retirement System of Texas A9 Revised October 30 2009 403 b Product Registration System User Manual v3 0 E Add Investment Option Surrender Withdrawal Charge continued e Enter the investment option Fee Name Note There is an 80 character limit including spaces in this text field Enter the Maximum Annualized Fee Percentage you must round to three decimal places For example this fee has a rate that ranges between 0 250 and 1 000 and is applied annually the maximum annualized fee percentage is 1 000 FEE MAXIMUMSS Fees may not exceed maximums for the same fee type All product fees and associated investment option fees are aggregated within the same fee type If a fee exceeds the allowable maximum for a fee type an error message will appear and the fee will not be accepted by the PRS In order for a product to be accepted a fee amount will need to be in compliance with TRS RULE 53 3 Please refer to the warning below WARNING A certified company may charge a surrender or withdrawal charge on an annuity contract account that may not exceed ten percent 10 of the accumulation account value the individual deposits or the premiums paid whichever is specified in the contract Surrender charges must terminate within ten 10 years of the inception of the employee s contract unless a disclosure is made informing the employee of a longer period of not in excess of twelve 12 years No surrender or withdrawa
63. end on how long your contract has been in effect This fee has a rate that ranges between 0 500 and 5 000 and is applied annually The amount of withdrawal charge assessed against the contract will not exceed 5 of purchase payments under the contract Fee waived 10 of contract value per year for death disability financial hardship nursing home medical expenses and terminal illness No Fee Name Maximum Annualized Fee Amount When does the fee apply and how is it calculated What are the fee waivers breakpoints and caps Is this an optional fee Other Fee Application Fee for Loan Approval 15 00 Fee applies at the time of loan origination Calculated Flat dollar amount None No Fee Name Maximum Annualized Fee Amount When does the fee apply and how is it calculated What are the fee waivers breakpoints and caps Is this an optional fee regarding the need for revision Compare Product TRS will receive automated notification that the information is ready for activation on the Web List After review is completed TRS will move the information to the Active Products List or will communicate with the company If you want to include a message in the e mail notification being sent to TRS enter it here Transaction Request Fee 10 00 Fee applies Whenever assistance is required in the sale or purchase of a security Calculated Flat dollar amount None No Submit for Activation
64. ength of time held What are the fee waivers breakpoints and caps Fee is waived in school districts with 50 or more participants Is this an optional fee No Asset Based Fee Fee Name Administrative Fee Maximum Annualized Fee Percentage 0 24096 When does the fee apply and how is it calculated Fee applies Monthly Calculated Annualized percentage What are the fee waivers breakpoints and caps None Is this an optional fee No Surrender Withdrawal Charge Screen continued below Maximum Annualized Fee Percentage 0 240 6 When does the fee apply and how is it calculated Fee applies Monthly Calculated Annualized percentage What are the fee waivers breakpoints and caps None Is this an optional fee No Surrender Withdrawal Charge Fee Name Option Surrender and Withdrawal Maximum Annualized Fee Percentage 1 00096 1 year 1 000 2 years 0 750 3 years 0 500 4 years 0 2509 The charge depends on how long this investment option has been when does the fee apply and how is it calculated held The amount of withdrawal charges assessed against the contract will not exceed 196 of total assets held under the contract Fee waived Fully waived for death disability financial hardship nursing home medical expenses and terminal illness Is this an optional fee No Fee Schedule What are the fee waivers breakpoints and caps Loan Application Origination Fee Fee Name Applicatio
65. enrollment charter school employees through salary reduction agreements e Ifa product does not comply with TRS rules the product will not be accepted by TRS A company may choose to modify the product but must comply with applicable insurance and securities laws and rules in order for the product to be a qualified investment product e Companies must report all fees subject to salary reduction agreement associated with a 403 b product This includes all fees charged for the product each investment option frequently referred to as a sub account or funding option and each optional benefit such as a living benefit option Financial Advisor fees must also be reported if they will be paid through salary reduction agreement e Companies are required to identify the maximum annualized fee charged for a product investment option and optional benefit For example if a fee of an asset based fee is applied on a quarterly basis the fee must be entered on an annualized basis Companies have the opportunity to provide explanatory language for each fee including whether there is a range or exception for a particular fee e All fees associated with a product an investment option and an optional benefit must be entered into the appropriate fee type from the categories listed below All fees including platform product fees which are in addition to base product fees will be aggregated within each fee type to determine whether the aggregate exceeds the
66. er than O amp Local intranet ae P x 6 years 2 500 7 years 2 000 8 years 1 500 9 years 1 000 10 years 0 500 The amount of the charge will depend on how long your contract has been in effect This fee has a rate that ranges between 0 500 and 5 000 and is applied annually The amount of withdrawal charge assessed against the contract will not exceed 5 of purchase payments under the contract Fee waived 10 of contract value per year for death disability financial hardship nursing home medical expenses and terminal illness No Loan Application Origination Fee Fee Name Maximum Annualized Fee Amount When does the fee apply and how is it calculated What are the fee waivers breakpoints and caps Is this an optional fee Other Fee Fee Name Maximum Annualized Fee Amount When does the fee apply and how is it calculated What are the fee waivers breakpoints and caps Is this an optional fee Application Fee for Loan Approval 15 00 Fee applies at the time of loan origination Calculated Flat dollar amount None No Transaction Request Fee 10 00 Fee applies Whenever assistance is required in the sale or purchase of a security Calculated Flat dollar amount None No Teacher Retirement System of Texas Compare Product View Product Information Activate Product on Web List amp Local intranet 31 Revised October 30 2009 403 b Product Reg
67. es Charge Based on Time Held Maximum Annualized Fee Percentage u o o 1 000 To contract after contract initiation Fee applies value for one year When does the fee apply S Calculated As a percent of the amount sold if gaa A genital contract is less than one year zj Fee is waived in school districts with 50 or more what are the fee waivers PATEAT PARET breakpoints and caps Limit 300 characters pa Is this an optional fee No Yes Save amp Continue Do Not Save Teacher Retirement System of Texas Revised October 30 2009 403 b Product Registration System User Manual v3 0 12 B Add Product Back End Sales Load Fee continued e Enter the product Fee Name Note There is an 80 character limit including spaces in this text field e Enter the Maximum Annualized Fee Percentage you must round to three decimal places For example this fee has a 1 rate that is applied if the product is sold at any time during the first year the maximum fee is 1 000 Enter the Back End charge showing the fee that applies at sale based on the time period the product has been held FEE MAXIMUMSS Fees may not exceed maximums for the same fee type All product fees and associated investment option fees are aggregated within the same fee type Front end and back end sales loads may not exceed 6 000 in total If a fee exceeds the allowable maximum for a fee type an error message will appear and the fe
68. essage will appear and the fee will not be accepted by the PRS In order for a product to be accepted a fee amount will need to be in compliance with TRS RULE 53 3 Please refer to the warning below WARNING A certified company may charge an annual fixed dollar fee of no more than 50 00 per year per qualified investment product contract policy or account A fixed dollar fee is not dependent on account values loan amounts or any other amount for its determination TRS Rule 53 3 d e When does the fee apply and how is it calculated Please be as detailed as possible Note There is a 300 character limit including spaces e What are the fee waivers breakpoints and caps Please be as detailed as possible Note There is a 300 character limit including spaces Teacher Retirement System of Texas 45 Revised October 30 2009 403 b Product Registration System User Manual v3 0 C Add Investment Option Annual Fixed Dollar Fee continued e Click on Yes if this is an optional fee An optional fee is for an additional optional provision or benefit such as a living benefit option which may be chosen by the customer at an additional cost e Click on Save amp Continue to save this fee This brings the user to the Investment Option Fees screen e Click on Do Not Save to clear entries This brings the user to the Investment Option Fees screen Note Once investment option fee information is saved it is held in a Pending
69. fee apply and how is it calculated Please be as detailed as possible Note There is a 300 character limit including spaces e What are the fee waivers breakpoints and caps Please be as detailed as possible Note There is a 300 character limit including spaces Teacher Retirement System of Texas 51 Revised October 30 2009 403 b Product Registration System User Manual v3 0 F Add Investment Option Loan Application Origination Fee continued e Click on Yes if this is an optional fee An optional fee is for an additional optional provision or benefit such as a living benefit option which may be chosen by the customer at an additional cost e Click on Save amp Continue to save this fee This brings the user to the Investment Option Fees screen e Click on Do Not Save to clear entries This brings the user to the Investment Option Fees screen Note Once investment option fee information is saved it is held in a Pending Add status until submitted to TRS see p 70 TRS will then accept the investment option or return it for additional edits Teacher Retirement System of Texas 52 Revised October 30 2009 403 b Product Registration System User Manual v3 0 G Add Investment Option Other Fee e This screen is accessed by selecting Other Fee from the Investment Option Fees screen Fee applies Whenever assistance is required in the sale or purchase of a security e Enter the investment option Fee Name
70. g editing copying or removing an investment option Note Once an investment option is submitted no further changes may be made until TRS accepts or returns the investment option for changes to be considered A returned investment option may require additional information to be submitted or changes to be considered 2 years 0 750 gS 3 years 0 500 4 years 0 250 The charge depends on how long this investment option has been When does the fee apply and how is it calculated held The amount of withdrawal charges assessed against the contract will not exceed 1 of total assets held under the contract Fee waived Fully waived for death disability financial hardship nursing home medical expenses and terminal illness Is this an optional fee No What are the fee waivers breakpoints and caps Loan Application Origination Fee Fee Name Application Fee for Loan Approval Maximum Annualized Fee Amount 25 00 When does the fee apply and how is it calculated m ee at the time of loan origination Calculated Flat dollar What are the fee waivers breakpoints and caps None Is this an optional fee No Other Fee Fee Name Transaction Assistance Fee Maximum Annualized Fee Amount 10 00 Fee applies Whenever assistance is required in the sale or purchase of a security What are the fee waivers breakpoints and caps None Is this an optional fee No When does the fee apply and how is it calculated MI cer
71. ge percentage Screen continued below Surrender Withdrawal Charge w Fee Name Option Surrender and Withdrawal Option Surrender and Withdrawal PEAT e 14 eatee 1 000 Fee Schedule 1 vea 1 000 al Mea 1 000 2 years 0 750 2 years 0 750 3 years 0 500 3 years 0 500 4 years 0 250 4 years 0 250 The charge depends on how long this The charge depends on how long this _ hoe dos techs tba id Perens pee ees eee a fen eras eels ere ee Se contract will not exceed 1 of total assets contract will not exceed 1 of total assets held under the contract held under the contract Wimat ere tan tne watioes ano feny eran mimeo ie Women Rian nen eens mae mene expenses and terminal illness expenses and terminal illness Is this an optional fee No No Loan Application Origination Fee Fee Name Application Fee for Loan Approval Application Fee for Loan Approval Maximum Annualized Fee imonni 25 00 20 00 When does the fee apply Fee applies at the time of loan origination Fee applies at the time of loan origination and how is it calculated Calculated Flat dollar amount Calculated Flat dollar amount What are the fee waivers orat are ihe and caps Jis nonc Is this an optional fee No No Web List Fee Summary Proposed Fee Summary Main Menu Internet R 100 e Select Web List Fee Summary to view fees as they are
72. ge Based on Purchase Yalue 1 520 Fee applies At the time salary contribution is received witha rate ranging between 500 and 1 520 based on the amount contrubuted Calculated As a of the amount contriuted This fee may be waived in part by the selling agent No List I Option F Revised October 30 2009 XIV Edit or Remove Investment Option Fees continued e Click on Do Not Save to return to the Investment Option Fees screen without changing fee information e Click on Remove to remove the fee Clicking on Remove will generate a warning asking Are you sure you want to remove this investment option fee Company Name Investment Option Product Fee Type Fee Name Maximum Annualized Fee Percentage When does the fee apply and how is it calculated What are the fee waivers breakpoints and caps Is this an optional fee Remove Investment Option Fee Are you sure you want to remove this investment option fee 403 b PRS User Manual 100 001 004 Total Protection Optional Rider Pending Add 100 001 UM Product Pending Add Front End Sales Load Sales Charge Based on Purchase Value 1 520 Fee applies At the time salary contribution is received with a rate ranging between 500 o and 1 520 based onthe amount contrubuted Calculated As a of the amount contriuted This fee may be waived in part by the selling agent No Remove Fee Do NOT Remowe Fee e
73. gged into the PRS and needs to access the Investment Option Information screen select List All Products from the menu bar on the left side of the screen Click on the desired Investment Option to be taken to the Investment Option Information screen Teacher Retirement System of Texas 39 Revised October 30 2009 403 b Product Registration System User Manual v3 0 XIII Add Investment Option Fees e This screen is accessed by selecting Add Edit or Remove Investment Option Fees on the Investment Option Information screen To add an investment option fee select the fee type to be added and complete all required fields e Once an investment option fee has been added and saved it will appear at the bottom of the Investment Option Fees screen All product fees are required to be in compliance with TRS RULE 53 3 see Company Guidance on page 2 of this manual Select the Investment Option name to return to the Investment Option Information screen Teacher Retirement System of Texas 40 Revised October 30 2009 403 b Product Registration System User Manual v3 0 A Add Investment Option Front End Sales Load Fee e This screen is accessed by selecting Front End Sales Load from the Investment Option Fees screen Sales Charge Based on Purchase Value Fee applies At the time salary contribution is received with a rate ranging between 500 and 1 520 based on the amount contrubuted Calculated 4s a of the amount contriuted
74. ions to existing contracts and new contracts may no longer be offered Note A discontinued product remains available for contributions to existing contracts but new contracts may no longer be offered See section X subsection B Note If a user has logged into the PRS and needs to access the Product Information screen select List All Products from the menu bar on the left side of the screen Click on the desired product to be taken to the Product Information screen Teacher Retirement System of Texas 29 Revised October 30 2009 403 b Product Registration System User Manual v3 0 C Inactivate Product continued Submit Inactivation on Web List Are you sure you want to submit this product for inactivation on the V eb List If approved this product and all fees associated with it along with all investment options and investment option fees will be moved to the Inactive List Product Information Company Name 403 b PRS User Manual Product Name Copy Product Product Number 100 003 Product Type Product Status Variable Annuity Active Review Status Accepted Last Changed By 100UTOO1 Back End Sales Load Fee Name Maximum Annualized Fee Percentage Fee Schedule Sales Charge Based on Time Held 1 00096 30 days 1 00096 60 days 1 000 90 days 1 00096 1 year 1 00096 Fee applies To contract value for one year after contract initiation Calculated As a percent of the amount sold if contract is
75. istration System User Manual v3 0 D Activate Product continued ay wm o a ge Submit Activation on Web List Are you sure you want to submit this product for activation If approved this product will be displayed on the Active Products List Product Information Company Name 403 b PRS User Manual Certified Product Type Annuity Product Name Copy Product Product Number 100 003 Product Type Variable Annuity Product Status Inactive Review Status Accepted Last Changed By 10OUTOOL1 Back End Sales Load Fee Name Maximum Annualized Fee Percentage Fee Schedule When does the fee apply and how is it calculated What are the fee waivers breakpoints and caps Is this an optional fee Sales Charge Based on Time Held 1 000 30 days 1 000 60 days 1 000 90 days 1 000 1 year 1 000 Fee applies To contract value for one year after contract initiation Calculated As a percent of the amount sold if contract is less than one year Fee is waived in school districts with 50 or more participants No Annual Fixed Dollar Fee Fee Name Done Screen continued below O o0 AAG Ste 8 Sa De When does the fee apply and how is it calculated What are the fee waivers breakpoints and caps Is this an optional fee Loan Application Origination Fee Contract Fee lt B 4 Local intranet F A The amount of the charge will dep
76. ited successfully as seen in the screen below Product Fee Product fee was edited successfully Company Name 403 b PRS User Manual Product 100 001 UM Product Pending Add Fee Type Front End Sales Load Fee Name Sales Charge Based on Purchase Yalue Maximum Annualized Fee Percentage 1 000 Fee applies Salary contribution is received with a rate ranging When does the fee apply between 0 450 and 1 000 based on the amount and how is it calculated contributed Calculated As a percentage of the amount contributed What are the fee waivers breakpoints and caps This fee is waived in part by the selling agent Is this an optional fee No List Fees Teacher Retirement System of Texas 24 Revised October 30 2009 403 b Product Registration System User Manual v3 0 IX Edit or Remove Product Fees continued e Click on Do Not Save to return to the Product Fees screen without changing fee information e Click on Remove to remove the fee Clicking on Remove will generate a warning asking Are you sure you want to remove this fee Remove Fee Are you sure you want to remove this fee Company Name 403 b PRS User Manual Product 100 001 UM Product Pending Add Fee Type Front End Sales Load Fee Name Sales Charge Based on Purchase Yalue Maximum Annualized Fee Percentage 1 000 Fee applies Salary contribution is received with a rate ranging between a sls HoE Jeeta ey 0 450 and 1 00
77. ity Product Status Active Review Status Pending 4dd Last Changed By 100UTO0O1 Back End Sales Load Fee Name Maximum Annualized Fee Percentage Fee Schedule When does the fee apply and how is it calculated What are the fee waivers breakpoints and caps Is this an optional fee Annual Fixed Dollar Fee Fee Name Maximum Annualized Fee Amount When does the fee apply and how is it calculated Screen continued below When does the fee apply and how is it calculated What are the fee waivers breakpoints and caps Is this an optional fee Loan Application Origination Fee Fee Name Maximum Annualized Fee Amount When does the fee apply and how is it calculated what are the fee waivers breakpoints and caps Is this an optional fee Other Fee Fee Name Maximum Annualized Fee Amount When does the fee apply and how is it calculated What are the fee waivers breakpoints and caps Is this an optional fee Copy Product Product Information Sales Charge Based on Time Held 1 000 30 days 1 00096 60 days 1 00096 90 days 1 000 1 year 1 00096 Fee applies To contract value for one year after contract initiation Calculated As a percent of the amount sold if contract is less than one year Fee is waived in school districts with 50 or more participants No Contract Fee 30 00 Applies Annually at contract anniversary Calculated Flat dollar amount 3 years
78. ivers breakpoints and caps None Is this an optional fee No Compare Product TRS will receive automated notification that the information is ready for inactivation on the Web List After review is completed TRS will move the information to the Inactive List or will communicate with the company regarding the need for revision If you want to include a message in the e mail notification being sent to TRS enter it here Submit for Inactivation Not Ready for Submission e Click on Submit for Inactivation to submit a product Note Once the submittal to inactivate a product on the 403 b Active Products List has been accepted by TRS the product will move from the Active Products List to the Inactive Products List The product can be reactivated at any time by submitting an Activation request The 403 b Inactive Products List also includes products and investment options that have been suspended or revoked by TRS or products that were offered by companies that are no longer certified e Click on Not Ready for Submission if you do not want to submit a product for inactivation This brings the user to the Product Information screen Teacher Retirement System of Texas 30 Revised October 30 2009 403 b Product Registration System User Manual v3 0 D Activate Product e Activate Product on Web List is only visible if a product has previously been accepted and inactivated Go to the Main Menu screen click on List All
79. k End Sales Load Fee Name Back End Sales Load Fee Maximum Annualized Fee Percentage 2 00096 Fee Schedule 30 days 2 000 60 days 2 00096 90 days 2 000 Fee applies To exchanges or redemptions of shares held less than 90 When does the fee apply and how is it calculated days Calculated As a percent of the amount sold based on the length of time held What are the fee waivers breakpoints and caps Fee is waived in school districts with 50 or more participants Is this an optional fee No Asset Based Fee Fee Name Administrative Fee Maximum Annualized Fee Percentage 0 24096 When does the fee apply and how is it calculated Fee applies Monthly Calculated Annualized percentage What are the fee waivers breakpoints and caps None Te thie an natina al fnn hia Screen continued below What are the tee waivers breakpoints and caps None Is this an optional fee No Surrender Withdrawal Charge Fee Name Option Surrender and Withdrawal Maximum Annualized Fee Percentage 1 00096 Fee Schedule 1 year 1 00096 2 years 0 750 3 years 0 50096 4 years 0 250 The charge depends on how long this investment option has been When does the fee apply and how is it calculated held The amount of withdrawal charges assessed against the contract will not exceed 196 of total assets held under the contract Fee waived Fully waived for death disability financial hardship nursing home medical expenses and terminal
80. l charge may be longer than twelve 12 years from the inception of the employee s contract Surrender or withdrawal charges shall decline annually Surrender or withdrawal charges imposed for longer than ten 10 years are limited to no more than one percent 1 in year eleven and one percent 1 in year twelve Surrender or withdrawal charges may be based on the accumulation value of an annuity or a component part thereof as specified and defined in the contract TRS Rule 53 3 f e When does the fee apply and how is it calculated Please be as detailed as possible Note There is a 300 character limit including spaces What are the fee waivers breakpoints and caps Please be as detailed as possible Note There is a 300 character limit including spaces Click on Yes if this is an optional fee An optional fee is for an additional optional provision or benefit such as a living benefit option which may be chosen by the customer at an additional cost Click on Save amp Continue to save this fee This brings the user to the Investment Option Fees screen Click on Do Not Save to clear entries This brings the user to the Investment Option Fees screen Note Once investment option fee information is saved it is held in a Pending Add status until submitted to TRS see p 70 TRS will then accept the investment option or return it for additional edits Teacher Retirement System of Texas 50 Revised October 30 2009 403 b
81. l notification being sent to TRS enter it here Management Fee 0 030 Fee applied Daily as a percentage of average daily account value Calculated Charged monthly None No Not Ready for Submission Internet R 100 Note User will be asked to certify that all information that is being submitted is true and accurate Teacher Retirement System of Texas 91 403 b Product Registration System User Manual v3 0 Revised October 30 2009 XXVIII Compare Previously Accepted Platform Investment Option with Newly Submitted Edits e Select Compare Platform Investment Option from the Platform Investment Option Summary screen to view edits e This function allows user to compare previously accepted product information with pending edits submitted to TRS Fields are highlighted to show where changes have taken place Compare Product Web List Proposed Revision Company Name User Test Platorm User Test Platorm Product Name 403 b PRS User Manual Subaccount Test Fund 403 b PRS User Manual Subaccount Test Fund Product Number 999 P007 999 P007 Product Type Custodial Account Custodial Account Product Status Active Active Review Status Accepted Pending Edit Last Changed By 999UP001 999UP001 Annual Fixed Dollar Fee Fee Name Platform Contract Fee Pl
82. lculated As a percent of the amount sold if contract is less percent of the amount sold if contract is less than one year than one year What are the fee waivers Fee is waived in school districts with 50 or Fee is waived in school districts with 50 or en eee ee ee maneh mamen markimin ante mamen m anrbimnin amta Screen continued below when does the tee apply atter contract initiation Calculated AS a atter contract initiation Caiculated AS a a and how is it calculated percent of the amount sold if contract is less percent of the amount sold if contract is less than one year than one year what are the fee waivers Fee is waived in school districts with 50 or Fee is waived in school districts with 50 or breakpoints and caps more participants more participants Is this an optional fee No No Annual Fixed Dollar Fee Fee Name Contract Fee Contract Fee PeR Annualized Fee Ape 30 00 35 00 When does the fee apply Applies Annually at contract anniversary Applies Annually at contract anniversary and how is it calculated Calculated Flat dollar amount Calculated Flat dollar amount E are the fee waivers 5 5 value is greater than 50 000 on the date value is greater than 60 000 on the date breakpoints and caps the fee is deducted i the fee is deducted a Is this an optional fee No No Breakpoint This fee is waived if contract Breakpoint This fee is waived if contract
83. lculated Fee applies Monthly Calculated Annualized percentage What are the fee waivers breakpoints and caps None Is this an optional fee No Surrender Withdrawal Charge Fee Name Option Surrender and Withdrawal Maximum Annualized Fee Percentage 1 000 Fee Schedule 1 year 1 000 2 years 0 750 3 years 0 500 4 years 0 250 The charge depends on how long this investment option has been When does the fee apply and how is it calculated held The amount of withdrawal charges assessed against the p Done B 4 Local intranet Screen continued below OQ O WAAGDG SA kK OG a sea wWe Asset Based Fee Fee Name Administrative Fee Maximum Annualized Fee Percentage 0 350 When does the fee apply and how is it calculated Fee applies Monthly Calculated Annualized percentage What are the fee waivers breakpoints and caps None Is this an optional fee No Surrender Withdrawal Charge Fee Name Option Surrender and Withdrawal Maximum Annualized Fee Percentage 1 000 Fee Schedule 1 year 1 000 2 years 0 750 3 years 0 500 4 years 0 250 The charge depends on how long this investment option has been When does the fee apply and how is it calculated held The amount of withdrawal charges assessed against the contract will not exceed 1 of total assets held under the contract Fee waived Fully waived for death disability financial hardship nursing home medical expense
84. less than one year What are the fee waivers breakpoints and caps Fee is waived in school districts with 50 or more participants Is this an optional fee No When does the fee apply and how is it calculated Annual Fixed Dollar Fee Screen continued below The amount of the charge will depend on how long your contract has been in effect This fee has a rate that ranges between 0 50096 and 5 000 and is applied annually The amount of withdrawal charge assessed against the contract will not exceed 596 of purchase payments under the contract Fee waived 1096 of contract value per year for death disability financial hardship nursing home medical expenses and terminal illness Is this an optional fee No When does the fee apply and how is it calculated What are the fee waivers breakpoints and caps Loan Application Origination Fee Fee Name Maximum Annualized Fee Amount Application Fee for Loan Approval 25 00 Fee applies at the time of loan origination Calculated Flat dollar When does the fee apply and how is it calculated what are the fee waivers breakpoints and caps Is this an optional fee amount None No Other Fee Fee Name Maximum Annualized Fee Amount When does the fee apply and how is it calculated Transaction Request Fee 10 00 Fee applies Whenever assistance is required in the sale or purchase of a security Calculated Flat dollar amount What are the fee wa
85. limit including spaces Teacher Retirement System of Texas 41 Revised October 30 2009 403 b Product Registration System User Manual v3 0 A Add Investment Option Front End Sales Load Fee continued e Click on Yes if this is an optional fee An optional fee is for an additional optional provision or benefit such as a living benefit option which may be chosen by the customer at an additional cost e Click on Save amp Continue to save this fee This brings the user to the Investment Option Fees screen e Click on Do Not Save to clear entries This brings the user to the Investment Option Fees screen Note Once investment option fee information is saved it is held in a Pending Add status until submitted to TRS see p 70 TRS will then accept the investment option or return it for additional edits Teacher Retirement System of Texas 42 Revised October 30 2009 403 b Product Registration System User Manual v3 0 B Add Investment Option Back End Sales Load Fee e This screen is accessed by selecting Back End Sales Load from the Investment Option Fees screen Add Investment Option Back End Sales Load Company Name 403 b PRS User Manual Investment Option 100 001 004 Total Protection tional Rider Pending Add Product Back End Sales Load Fee 2 000 oo a ae Cae Charge Period 2000 o 0 30days 2000 o 60days 2000 o 0 90days Fee Name Maximum Annualized Fee Percentage
86. m User Manual v3 0 C Add Product Annual Fixed Dollar Fee continued e When does the fee apply and how is it calculated Please be as detailed as possible Note There is a 300 character limit including spaces What are the fee waivers breakpoints and caps Please be as detailed as possible Note There is a 300 character limit including spaces e Click on Yes if this is an optional fee An optional fee is for an additional optional provision or benefit such as a living benefit option which may be chosen by the customer at an additional cost e Click on Save amp Continue to save this fee This brings the user to the Product Fees screen e Click on Do Not Save to clear entries This brings the user to the Product Fees screen Note Once product fee information is saved it is held in a Pending Add status until the product is submitted to TRS see p 69 TRS will then accept the product or return it for additional edits Teacher Retirement System of Texas 15 Revised October 30 2009 403 b Product Registration System User Manual v3 0 D Add Product Asset Based Fee e This screen is accessed by selecting Asset Based Fee from the Product Fees screen Mortality Fee 0 150 Fee applied Daily as a percentage of average daily account value Calculated Charged daily e Enter the product Fee Name Note There is an 80 character limit including spaces in this text field e Enter the Maximum Annu
87. ment Options Company Name 403 b PRS User Manual Product 100 001 UM Product Pending Add Add an Investment Option for this product Click on an Investment Option below to view details e Click on the link Add an Investment Option for this product to be taken to the Add Investment Option screen shown below Add Investment Option Please enter the name of the 403 b Investment Option Company Name 403 b PRS User Manual Product 100 001 UM Product Pending Add Investment Option Type Variable Annuity Investment Option Name Total Protection Optional Rider Save amp Continue Do Not Save e Investment Option Name Enter the name of the Investment Option Note There is an 80 character limit including spaces in this text field Note Only the first 20 characters of the investment option name will initially be displayed on the TRS Web site However users will be able to view the entire investment option name by placing the cursor over the partial name or selecting the product e Click on Save amp Continue to save this investment option This takes the user back to the Investment Option screen below showing the added investment option Teacher Retirement System of Texas 37 Revised October 30 2009 403 b Product Registration System User Manual v3 0 XI Add Investment Option continued e Once an Investment Option has been added and saved it will be listed as shown above Click on the name of the added
88. mes amounts and descriptions may all be modified e Click on Do NOT Copy if an investment option copy is not wanted This brings the user back to the Investment Option Information screen Teacher Retirement System of Texas 66 Revised October 30 2009 403 b Product Registration System User Manual v3 0 XVI View Product Summary e The Product Summary screen lists product fees only and can be accessed from the Product Information screen Back End Sales Load e Product fees are grouped by fee type and can be viewed at the beginning of the screen Teacher Retirement System of Texas 67 Revised October 30 2009 403 b Product Registration System User Manual v3 0 XVII View Investment Option Summary e The Investment Option Summary screen lists all product and investment option fees and can be accessed from the Investment Option Information screen Pending Investment Option Summary Product Information a Company Name Product Name Product Number Product Type Product Status Review Status Last Changed By 403 b PRS User Manual UM Product 100 001 variable Annuity Active Pending 4dd 100UTOO1 Front End Sales Load Fee Name Maximum Annualized Fee Percentage Sales Charge Based on Purchase Value 1 00096 Fee applies Salary contribution is received with rate ranging between 0 450 and 1 000 based on the amount contributed Calculated As a percentage of the amount contributed
89. mit including spaces What are the fee waivers breakpoints and caps Please be as detailed as possible Note There is a 300 character limit including spaces e Click on Yes if this is an optional fee An optional fee is for an additional optional provision or benefit such as a living benefit option which may be chosen by the customer at an additional cost e Click on Save amp Continue to save this fee This brings the user to the Product Fees screen e Click on Do Not Save to clear entries This brings the user to the Product Fees screen Note Once product fee information is saved it is held in a Pending Add status until the product is submitted to TRS see p 69 TRS will then accept the product or return it for additional edits Teacher Retirement System of Texas 17 Revised October 30 2009 403 b Product Registration System User Manual v3 0 E Add Product Surrender Withdrawal Charge e This screen is accessed by selecting Surrender Withdrawal Charge from the Product Fees screen Add Product Surrender Withdrawal Charge Company Name 403 b PRS User Manual Product i Fee Name Surrender and Vvithdrawal Maximum Annualized Fee Percentage 5 000 o Surrender Surrender Withdrawal Withdrawal Charge Period 5 000 o 1 year E Em The amount of the charge will depend on how long when does the fee apply EARN a maa Screen continued below S
90. n Fee for Loan Approval Maximum Annualized Fee Amount 25 00 When does the fee apply and how is it calculated tpl alate at the time of loan origination Calculated Flat dollar What are the fee waivers breakpoints and caps None Is this an optional fee No Other Fee Fee Name Transaction Assistance Fee Maximum Annualized Fee Amount 10 00 Fee applies Whenever assistance is required in the sale or purchase of a security What are the fee waivers breakpoints and caps None Is this an optional fee No Copy This Investment Option Do NOT Copy When does the fee apply and how is it calculated e The copy investment option function allows the user to copy a selected investment option and all associated fees e Click on Copy This Investment Option to copy an investment option and all associated fees This brings the user to the Edit Investment Option screen as shown below Teacher Retirement System of Texas 65 Revised October 30 2009 403 b Product Registration System User Manual v3 0 F Copy Investment Option continued Total Protection Optional Rider o e The investment option name must be modified This new investment option name may be saved by selecting Save and Continue This brings the user to the Investment Option Information Screen e Once the investment option is copied and renamed the user may make changes that are specific to the newly copied investment option For example fee na
91. n edit fee screen An example is shown below Teacher Retirement System of Texas 23 Revised October 30 2009 403 b Product Registration System User Manual v3 0 IX Edit or Remove Product Fees continued Edit Product Front End Sales Load Company Name 403 b PRS User Manual Product Fee Type Front End Sales Load Fee Name Sales Charge Based on Purchase Value Maximum Annualized Fee Percentage 1 000 o Fee applies Salary contribution is received with a rate ranging between 0 450 and 1 000 based on the amount contributed Calculated 4s a percentage of the amount contributed When does the fee apply and how is it calculated Limit 300 characters This fee is waived in part by the selling agent What are the fee waivers breakpoints and caps Limit 300 characters Is this an optional fee No Yes Save amp Continue Do Not Save Remove e The edit fee screens each edit fee screen is specific to the fee type allow the user to edit the fee name the maximum fee percentage or amount when the fee applies how the fee is calculated and fee waiver breakpoint cap information The user can also change whether or not a fee is optional e Click on Save amp Continue to save changes This brings the user to the Product Fee screen showing the updated information Once a product fee has been edited successfully you will see a message near the top of the page stating Product fee was ed
92. nder the contract Fee waived 1096 of contract value per year for death disability financial hardship nursing home medical expenses and terminal illness No Application Fee for Loan Approval 15 00 Fee applies at the time of loan origination Calculated Flat dollar amount None No Transaction Request Fee 10 00 Fee applies Whenever assistance is required in the sale or purchase of a security Calculated Flat dollar amount What are the fee waivers breakpoints and caps None Is this an optional fee No C e du vi p juct Inf ti Main Menu Teacher Retirement System of Texas 71 Revised October 30 2009 403 b Product Registration System User Manual v3 0 A Compare Previously Accepted Product with Newly Submitted Edits continued e This function allows user to compare previously accepted product information with pending edits submitted to TRS Fields are highlighted to show where changes have taken place Compare Product Back End Sales Load Fee Name Sales Charge Based on Time Held Sales Charge Based on Time Held Fee Schedule 0000 30 days 1 000 30 days 1 000 60 days 1 00096 60 days 1 00096 90 days 1 000 90 days 1 00096 fa year 1 000 p year 1 0009 Fee applies To contract value for one year Fee applies To contract value for one year When does the fee apply and how is it calculated after contract initiation Calculated As a after contract initiation Ca
93. ngs the user to the Product Fees screen e Click on Do Not Save to clear entries This brings the user to the Product Fees screen Note Once product fee information is saved it is held in a Pending Add status until the product is submitted to TRS see p 69 TRS will then accept the product or return it for additional edits Teacher Retirement System of Texas 21 Revised October 30 2009 403 b Product Registration System User Manual v3 0 G Add Product Other Fee e This screen is accessed by selecting Other Fee from the Product Fees screen Transaction Request Fee Fee applies Whenever assistance is required i the sale or purchase of a security Calculated Flat dollar amount 7 e Enter the product Fee Name Note There is an 80 character limit including spaces in this text field e Enter the Maximum Annualized Fee Percentage you must round to three decimal places or the Maximum Annualized Fee Amount If this fee has a percentage that ranges between 250 and 850 and is applied quarterly enter the maximum annualized fee percentage of 3 400 If this fee has a dollar amount that ranges between 8 00 and 12 00 and is applied quarterly enter the maximum annualized fee amount of 48 00 In the example provided this fee has a 10 00 fee whenever an intermediary such as a broker dealer assists in the sale or purchase of a security the maximum fee is 10 00 There are no established fee caps for other fees
94. ntracts but new contracts may no longer be offered Note An inactive product is no longer available for contributions to existing contracts and new contracts may no longer be offered See section X subsection C Note Once the submittal to discontinue a product on the 403 b Active Products List has been accepted by TRS the product will move from the Active Products List to the Discontinued Products List The discontinued product can be reinstated at any time by returning to this screen un checking the box next to This product has been discontinued clicking on Save amp Continue and then submitting to TRS for review If the product has been discontinued check the box next to This product has been discontinued e Discontinuation Date Enter the effective date of product discontinuation Click on Save amp Continue to save edits Click on Do Not Save to clear entries and return to the Product Information screen Teacher Retirement System of Texas 28 Revised October 30 2009 403 b Product Registration System User Manual v3 0 C Inactivate Product e Inactivate Product on Web List is only visible if a product has previously been accepted and can be accessed from the Product Information screen e To inactivate a product on the 403 b Active Products List select Inactivate Product on Web List from the Product Information screen e An inactive product is no longer available for contribut
95. on which may be chosen by the customer at an additional cost e Click on Save amp Continue to save this fee This brings the user to the Investment Option Fees screen e Click on Do Not Save to clear entries This brings the user to the Investment Option Fees screen Note Once investment option fee information is saved it is held in a Pending Add status until submitted to TRS see p 70 TRS will then accept the investment option or return it for additional edits Teacher Retirement System of Texas 44 Revised October 30 2009 403 b Product Registration System User Manual v3 0 C Add Investment Option Annual Fixed Dollar Fee e This screen is accessed by selecting Annual Fixed Dollar Fee from the Investment Option Fees screen To assets held on January 1 each Calculated Flat dollar amount Breakpoint This fee is waived if asset value is greater than 10 000 on January 1 e Enter the investment option Fee Name Note There is an 80 character limit including spaces in this text field e Enter the Maximum Annualized Fee Amount For example this fee has a flat dollar amount of 15 00 that is applied on an annual basis for the duration of the contract the maximum fee is 15 00 FEE MAXIMUMS Fees may not exceed maximums for the same fee type All product fees and associated investment option fees are aggregated within the same fee type If a fee exceeds the allowable maximum for a fee type an error m
96. on Status Inactive Review Status Accepted Last Changed By 999UPOO1 Annual Fixed Dollar Fee Fee Name Platform Contract Fee Maximum Annualized Fee Amount 15 00 When does the fee apply and how is it calculated ple satin Annually at contract anniversary Calculated Flat dollar Breakpoint This fee is waived if contract value is greater than 60 000 on the date the fee is deducted No Asset Based Fee Fee Name Management Fee Maximum Annualized Fee Percentage When does the fee apply and how is it calculated What are the fee waivers breakpoints and caps 0 030 Fee applied Daily as a percentage of average daily account value Calculated Charged monthly None Is this an optional fee TRS will receive automated notification that the information is ready for activation on the Web List After review is completed TRS will move the information to the Active Products List or will communicate with the company regarding the need for revision If you want to include a message in the e mail notification being sent to TRS enter it here No Compare Platform Investment Option Submit for Activation Not Ready for Submission Internet e Click on Submit for Activation to submit a platform investment option Note Once the submittal to activate a platform investment option on the 403 b Active Products List has been accepted by TRS the product will move from the Inactive Prod
97. ontribution is 500 and Teacher Retirement System of Texas 403 b Product Registration System User Manual v3 0 and how is it calculated Limit 300 characters What are the fee waivers breakpoints and caps Limit 300 characters Is this an optional fee Calculated 4s a of the amount contriuted This fee may be waived in part by the selling agent No Yes Save amp Continue Do Not Save Remove e The edit fee screens each edit fee screen is specific to the fee type allow the user to edit the fee name the maximum fee percentage or amount when the fee applies how the fee is calculated and fee waiver breakpoint cap information The user can also change whether or not a fee is optional e Click on Save amp Continue to save changes This brings the user to an investment option fee screen showing the updated information Once an Investment Option fee has been edited successfully you will see a message near the top of the page stating Investment Option fee was edited successfully as seen in the screen below Company Name Investment Option Product Fee Type Fee Name Maximum Annualized Fee Percentage When does the fee apply and how is it calculated What are the fee waivers breakpoints and caps Is this an optional fee 55 Investment Option Fee Investment Option fee was edited successfully 403 b PRS User Manual Front End Sales Load Sales Char
98. option fees are aggregated within the same fee type If a fee exceeds the allowable maximum for a fee type an error message will appear and the fee will not be accepted by the PRS In order for a product to be accepted a fee amount will need to be in compliance with TRS RULE 53 3 Please refer to the warning below WARNING A certified company may charge a surrender or withdrawal charge on an annuity contract account that may not exceed ten percent 10 of the accumulation account value the individual deposits or the premiums paid whichever is specified in the contract Surrender charges must terminate within ten 10 years of the inception of the employee s contract unless a disclosure is made informing the employee of a longer period of not in excess of twelve 12 years No surrender or withdrawal charge may be longer than twelve 12 years from the inception of the employee s contract Surrender or withdrawal charges shall decline annually Surrender or withdrawal charges imposed for longer than ten 10 years are limited to no more than one percent 1 in year eleven and one percent 1 in year twelve Surrender or withdrawal charges may be based on the accumulation value of an annuity or a component part thereof as specified and defined in the contract TRS Rule 53 3 f e When does the fee apply and how is it calculated Please be as detailed as possible Note There is a 300 character limit including spaces What are the fee waiver
99. ow Is this an optional fee What are the fee waivers breakpoints and caps amp Internet R100 ices Cig ne AT nT a ne Sie ee he ES Certified Product Type No Proprietary Products a Investment Option Name 403 b PRS User Manual Subaccount Test Fund Investment Option Number 999 P007 Investment Option Type Custodial Account Investment Option Status Active Review Status Accepted Last Changed By 999UPO001i Annual Fixed Dollar Fee Fee Name Platform Contract Fee Maximum Annualized Fee Amount 15 00 Oranda Stacy fakes aa aa aa des aa aE ae Annually at contract anniversary Calculated Flat dollar Breakpoint This fee is waived if contract value is greater than 60 000 on the date the fee is deducted No Asset Based Fee Fee Name Is this an optional fee Maximum Annualized Fee Percentage When does the fee apply and how is it calculated What are the fee waivers breakpoints and caps TRS will receive automated notification that the information is ready for inactivation on the Web List After review is completed TRS will move the information to the Inactive Products List or will communicate with the company regarding the need for revision If you want to include a message in the e mail notification being sent to TRS enter it here Management Fee 0 030 Fee applied Daily as a percentage of average daily account value Calculated Charged monthly None No Compare Platform Investment Option
100. r 30 2009 403 b Product Registration System User Manual v3 0 G Add Investment Option Other Fee continued e Click on Do Not Save to clear entries This brings the user to the Investment Option Fees screen Note Once investment option fee information is saved it is held in a Pending Add status until submitted to TRS see p 70 TRS will then accept the investment option or return it for additional edits XIV Edit or Remove Investment Option Fees e This screen is accessed by selecting Add Edit or Remove Investment Option Fee from the Investment Option Information screen e Once an investment option fee has been added and saved it will appear at the bottom of the Investment Option Fees screen e To edit or remove a fee click on the desired fee e User will be taken to an edit fee screen An example is shown below Teacher Retirement System of Texas 54 Revised October 30 2009 403 b Product Registration System User Manual v3 0 XIV Edit or Remove Investment Option Fees continued Company Name Investment Option Product Fee Type Fee Name Maximum Annualized Fee Percentage When does the fee apply Edit Investment Option Front End Sales Load 403 b PRS User Manual 100 001 UM Product Pending Add Front End Sales Load Sales Charge Based on Purchase Value fi 520 oo Fee applies received with a rate ranging between 1 520 based on the amount contrubuted At the time salary c
101. r Total Protection Benefit Rider aeS Sprie 100 003 001 100 003 001 Investment Option Type Variable Annuity s lt OSOCOCO d ible Annuity Investment Option Status Active 2 sC tI Review Status Accepted gt Pending Last Changed By 100UT0010 ssS C tO Back End Sales Load Fee Name Back End Sales Load Fee Back End Sales Load Fee Peace Annualized Fee Percentage eae ear Fee Schedule 30 a 2 00096 30 days 2 000 60 e 2 000 60 days 2 000 90 90 days 2 0009 2 000 90 days 2 000 Fee applies To exchanges or redemptions of Fee applies To exchanges or redemptions of When does the fee apply shares held less than 90 days Calculated As shares held less than 90 days Calculated As and how is it calculated a percent of the amount sold based on the a percent of the amount sold based on the length of time held length of time held What are the fee Rte ee iste teres Fee Ee ea ea eee iecae waived in school districts with 50 or Fee is waived in school districts with 50 or Rte ee iste teres and caps more Ee ea ea eee iecae more participants Is this an optional fee No No Asset Based Fee Fee Name Administrative Fee Administrative Fee Eases Annualized Fee Percentage aaah Dasa When does the fee apply Fee applies Monthly Calculated Annualized Fee applies Monthly Calculated Annualized and how is it calculated percenta
102. rs breakpoints and caps Is this an optional fee Asset Based Fee Fee Name Maximum Annualized Fee Percentage What are the fee waivers breakpoints and caps Is this an optional fee Done Screen continued below O 0 HAG Se o 8 Sa De What are the fee waivers breakpoints and caps Is this an optional fee When does the fee apply and how is it calculated When does the fee apply and how is it calculated Back End Sales Load Fee 2 000 30 days 2 000 60 days 2 000 90 days 2 000 Fee applies To exchanges or redemptions of shares held less than 90 days Calculated As a percent of the amount sold based on the length of time held Fee is waived in school districts with 50 or more participants No Administrative Fee 0 350 Fee applies Monthly Calculated Annualized percentage None No iw amp 3 Local intranet ay 2 None No Surrender Withdrawal Charge Fee Name Maximum Annualized Fee Percentage Fee Schedule What are the fee waivers breakpoints and caps Is this an optional fee When does the fee apply and how is it calculated Option Surrender and Withdrawal 1 000 1i year 1 000 2 years 0 750 3 years 0 500 4 years 0 250 The charge depends on how long this investment option has been held The amount of withdrawal charges assessed against the contract will not exceed 1 of total assets held under the contract Fee waived Fully waived for de
103. s and terminal illness Is this an optional fee No What are the fee waivers breakpoints and caps Loan Application Origination Fee Fee Name Application Fee for Loan Approval Maximum Annualized Fee Amount 20 00 When d the fee apply and how is it calculated oe ce at the time of loan origination Calculated Flat dollar What are the fee waivers breakpoints and caps None Is this an optional fee No Compare Investment Option View Investment Option Information Activate Investment Option on Web List 2 Done B 3 Local intranet Teacher Retirement System of Texas 62 Revised October 30 2009 403 b Product Registration System User Manual v3 0 Teacher Retirement System of Texas 403 b Product Registration System User Manual v3 0 D Activate Investment Option continued AA EMEN wm h a Certified Product Type Annuity Investment Option Number 100 003 001 Investment Option Type Variable Annuity Investment Option Status Inactive Review Status Accepted Last Changed By 100UTOO1 Submit Activation on Web List Are you sure you want to submit this investment option for activation If approved this investment option will be displayed on the Active Products List Company Name 403 b PRS User Manual Investment Option Name Total Protection Benefit Rider amp x Back End Sales Load Fee Name Maximum Annualized Fee Percentage Fee Schedule What are the fee waive
104. s breakpoints and caps Please be as detailed as possible Note There is a 300 character limit including spaces Click on Yes if this is an optional fee An optional fee is for an additional optional provision or benefit such as a living benefit option which may be chosen by the customer at an additional cost Click on Save amp Continue to save this fee This brings the user to the Product Fees screen Click on Do Not Save to clear entries This brings the user to the Product Fees screen Note Once product fee information is saved it is held in a Pending Add status until the product is submitted to TRS see p 69 TRS will then accept the product or return it for additional edits Teacher Retirement System of Texas 19 Revised October 30 2009 403 b Product Registration System User Manual v3 0 F Add Product Loan Application Origination Fee e This screen is accessed by selecting Loan Application Origination Fee from the Product Fees screen Application Fee for Loan Approval 25 00 Fee applies at the time of loan origination Calculated Flat dollar amount e Enter the product Fee Name Note There is an 80 character limit including spaces in this text field e Enter the Maximum Annualized Fee Amount For example this fee has a flat dollar amount of 25 00 that is applied on a one time basis the maximum fee is 25 00 FEE MAXIMUMS Fees may not exceed maximums for the same fee type All product
105. s it calculated What are the fee waivers breakpoints and caps Is this an optional fee Platform Contract Fea 15 00 Applies Annually at contract anniversary Calculated Flat dollar amount Breakpolnt This fee is walved If contract value is greater than 60 000 on the date the fee is deducted s Mo Applies Annually at contract anniversary Platform Contract Fee 10 00 Calculated Flat dollar amount eae Breakpoint This fee is waived if contract value is greater than 60 000 on the date the fee is deducted No Asset Based Fee Fee Name Maximum Annualized Fee When does the fee apply and how is it calculated What are the fee waivers breakpoints and caps Is this an optional fee Teacher Retirement System of Texas Manspement Fee 0 030 Fee applied Dally as a percentage of average dally account value Calculated Charged monthly sie aA Management Fee 0 030 Fee applied Daily as a percentage of average dally account value Calculated Charged monthly None None No No Web List Fee Summary Proposed Fee Summary Main Menu Ea E Internet A 100 92 Revised October 30 2009 403 b Product Registration System User Manual v3 0 XXVIII Compare Previously Accepted Platform Investment Option with Newly Submitted Edits continued Annual Fixed Dollar Fee Sa eee RNR S oc
106. stment option for changes to be considered A returned platform investment option may require additional information to be submitted or changes to be considered Investment Option Number 999 P007 Investment Option Type Custodial Account Investment Option Status Active Review Status Pending Add Last Changed By 999UPO001 a A I A A A et ee Investment Option Name 403 b PRS User Manual Subaccount Test Fund El Annual Fixed Dollar Fee Fee Name Maximum Annualized Fee Amount When does the fee apply and how is it calculated What are the fee waivers breakpoints and caps Is this an optional fee Platform Contract Fee 15 00 Applies Annually at contract anniversary Calculated Flat dollar amount Breakpoint This fee is waived if contract value is greater than 60 000 on the date the fee is deducted No Asset Based Fee Fee Name Maximum Annualized Fee Percentage When does the fee apply and how is it calculated what are the fee waivers breakpoints and caps Is this an optional fee MI certify that based on my personal knowledge all of the information is true and accurate When a company submits product registration information TRS receives automated notification that the information is ready for review After review is completed TRS will post the information to its Web site or will communicate with the company regarding the need for revision If you want to include a message in the e mai
107. stration System User Manual I Introduction The 80 Texas Legislature 2007 passed House Bill 2427 requiring 403 b certified companies to register their 403 b products offered on or after January 1 2008 with the Teacher Retirement System TRS The legislation directed that TRS shall establish and maintain a list of qualified investment products that are registered under this section The list must include information concerning all the fees charged in connection with each registered qualified investment product and the sale and administration of the product TRS has developed the Product Registration System PRS to allow companies to register products on line by providing fee information for each 403 b product to be offered to school employees for contribution through salary reduction agreements We hope this manual will easily guide companies through the 403 b product registration process If you have any questions please contact TRS 403 b Product Registration at 866 616 4032 or email 403b trs state tx us Teacher Retirement System of Texas 1 Revised October 30 2009 403 b Product Registration System User Manual v3 0 ll Company Guidance e There are two product registration periods per year November 1 through December 15 and May 1 through June 15 e Companies must be currently certified to register products with TRS e Beginning January 1 2008 only registered products may be offered to Texas school district and open
108. submenu 403b amp page id 403b forms 403b e To add Web Site Maintenance User s or make changes to user information at a later date a Request to Add Web Site Maintenance User s for 403 b Product Registration form TRS 635 must be submitted to TRS You may print a copy of the TRS 635 form by going to http www trs state tx us global jsp gt submenu 403b amp page id 403b forms 403b Teacher Retirement System of Texas 4 Revised October 30 2009 403 b Product Registration System User Manual v3 0 IV Accessing the Product Registration System continued C Password Guidance e Users will be required to change their initial passwords Passwords must be 8 10 characters long alphanumeric and cannot be reused e Users will be required to change their passwords every 40 days e f TRS assigns a new password for example if a password has been re set users will be required to again change their password e Only authorized Web Site Maintenance User s have access to the PRS e For assistance with user passwords please contact TRS at 866 616 4032 or email questions to the following email address 403b trs state tx us e Upon entering a valid User ID and Password click on Log In This will bring the user to the Main Menu screen as shown below V What s New Version 3 0 There are two enhancements to the PRS in version 3 0 e Allow certified platform companies to register products that are currently registered by another
109. t product other than an annuity contract and for the portion of an annuity contract that consists of a variable account a certified company may assess a charge of no more than 2 75 percent annually of the total value of assets in the employee s variable annuity contract account or other investment product account TRS Rule 53 3 e Teacher Retirement System of Texas 47 Revised October 30 2009 403 b Product Registration System User Manual v3 0 D Add Investment Option Asset Based Fee continued e When does the fee apply and how is it calculated Please be as detailed as possible Note There is a 300 character limit including spaces e What are the fee waivers breakpoints and caps Please be as detailed as possible Note There is a 300 character limit including spaces e Click on Yes if this is an optional fee An optional fee is for an additional optional provision or benefit such as a living benefit option which may be chosen by the customer at an additional cost e Click on Save amp Continue to save this fee This brings the user to the Investment Option Fees screen e Click on Do Not Save to clear entries This brings the user to the Investment Option Fees screen Note Once investment option fee information is saved it is held in a Pending Add status until submitted to TRS see p 70 TRS will then accept the investment option or return it for additional edits Teacher Retirement System of Texas 48 Revise
110. tform investment option will be displayed on the Active Products List Platform Investment Option Information Submit Activation on Web List User Test Platorm No Proprietary Products 403 b PRS User Manual Subaccount Test Fund 999 P007 Custodial Account Inactive Accepted 999UP001 Fee Name Is this an optional fee Asset Based Fee Maximum Annualized Fee Amount When does the fee apply and how is it calculated What are the fee waivers breakpoints and caps Platform Contract Fee 15 00 Applies Annually at contract anniversary Calculated Flat dollar amount Breakpoint This fee is waived if contract value is greater than 60 000 on the date the fee is deducted No a ef Fee Name Maximum Annualized Fee Percentage When does the fee apply and how is it calculated Management Fee 0 030 Fee applied Daily as a percentage of average daily account value Calculated Charged monthly Done Screen continued below Is this an optional fee What are the fee waivers breakpoints and caps What are the fee waivers breakpoints and caps None Is this an optional fee No eens 2 es amp Internet 100 Ee ee ee SS ee ee A Certified Product Type No Proprietary Products yy Investment Option Name 403 b PRS User Manual Subaccount Test Fund Investment Option Number 999 P007 Investment Option Type Custodial Account Investment Opti
111. ther changes may be made until TRS accepts or returns the product for changes to be considered A returned product may require additional information to be submitted or changes to be considered LLU yallo UV JIVU 7U The amount of the charge will depend on how long your contract has been in effect This fee has a rate that ranges between 0 500 When does the fee apply and how is it calculated and 5 000 and is applied annually The amount of withdrawal charge assessed against the contract will not exceed 5 of purchase payments under the contract Fee waived 10 of contract value per year for death disability What are the fee waivers breakpoints and caps financial hardship nursing home medical expenses and terminal illness Is this an optional fee No Loan Application Origination Fee Fee Name Application Fee for Loan Approval Maximum Annualized Fee Amount 25 00 When does the fee apply and how is it calculated or OPE TER at the time of loan origination Calculated Flat dollar What are the fee waivers breakpoints and caps None Is this an optional fee No Other Fee Fee Name Transaction Request Fee Maximum Annualized Fee Amount 10 00 Fee applies Whenever assistance is required in the sale or purchase of a security Calculated Flat dollar amount What are the fee waivers breakpoints and caps None Is this an optional fee No When does the fee apply and how is it calculated WI certify that based
112. tify that based on my personal knowledge all of the information is true and accurate When a company submits product registration information TRS receives automated notification that the information is ready for review After review is completed TRS will post the information to its Web site or will communicate with the company regarding the need for revision If you want to include a message in the e mail notification being sent to TRS enter it here Submit for Review l Not Ready for Submission amp Internet R100 Note User will be asked to certify that all information that is being submitted is true and accurate Teacher Retirement System of Texas 70 Revised October 30 2009 403 b Product Registration System User Manual v3 0 XX Compare Previously Accepted Product or Investment Option with Newly Submitted Edits A Compare Previously Accepted Product with Newly Submitted Edits e Select Compare Product from the Product Summary screen to view edits Company Name 403 b PRS User Manual Product Name Copy Product Product Number 100 003 Product Type Product Status Variable Annuity Active Pending Edit 100UTOO1 Review Status Last Changed By Back End Sales Load Fee Name Maximum Annualized Fee Percentage Fee Schedule When does the fee apply and how is it calculated What are the fee waivers breakpoints and caps Is this an optional fee Annual Fixed Dollar Fe
113. tion Surrender and Withdrawal Maximum Annualized Fee Percentage 1 000 Fee Schedule 1 year 1 000 2 years 0 750 3 years 0 500 4 years 0 250 The charge depends on how long this investment option has been When does the fee apply and how is it calculated held The amount of withdrawal charges assessed against the contract will not exceed 1 of total assets held under the contract Fee waived Fuly waived for death disability financial hardship nursing home medical expenses and terminal illness Is this an optional fee No What are the fee waivers breakpoints and caps Loan Application Origination Fee Fee Name Application Fee for Loan Approval Maximum Annualized Fee Amount 20 00 When does the fee apply and how is it calculated filers sais at the time of loan origination Calculated Flat dollar What are the fee waivers breakpoints and caps None Is this an optional fee No Compare Investment Option Vi I Opti Inf Main Menu Teacher Retirement System of Texas 73 Revised October 30 2009 403 b Product Registration System User Manual v3 0 B Compare Previously Accepted Investment Option with Newly Submitted Edits continued e This function allows user to compare previously accepted investment option information with pending edits submitted to TRS Fields are highlighted to show where changes have taken place Compare Investment Option Investment Option Name Total Protection Optional Ride
114. to save edits e Click on Do Not Save to clear entries and return to the Platform Investment Option Information screen Teacher Retirement System of Texas 84 Revised October 30 2009 403 b Product Registration System User Manual v3 0 B Inactivate Platform Investment Option e Inactivate Platform Investment Option on Web List is only visible if a Platform Investment Option has previously been accepted and can be accessed from the Platform Investment Option Information screen BH Internet R100 e To inactivate a platform investment option on the 403 b Active Products List select Inactivate Platform Investment Option on Web List from the Platform Investment Option Information screen e An inactive platform investment option is no longer available for contributions to existing contracts and new contracts may no longer be offered Note A discontinued platform investment option remains available for contributions to existing contracts but new contracts may no longer be offered See section XXV subsection A Note If a user has logged into the PRS and needs to access the Platform Investment Option Information screen select List All Products from the menu bar on the left side of the screen Click on the desired product to be taken to the Platform Investment Option Information screen Teacher Retirement System of Texas g5 Revised October 30 2009 403 b Product Registration System User Manual v3 0 B Inacti
115. ucts List to the Active Products List e Click on Not Ready for Submission if you do not want to submit a platform investment option for activation This brings the user to the Platform Investment Option Information screen Teacher Retirement System of Texas g8 Revised October 30 2009 403 b Product Registration System User Manual v3 0 D Remove Platform Investment Option e This screen is accessed by selecting Remove Platform Investment Option from the Platform Investment Option Information screen J antemee FE a e Click on Remove to remove a platform investment option from the PRS A platform investment option may be removed only if it has been entered into the PRS but has not yet been submitted to TRS Note Once a platform investment option is removed it must be re entered in the PRS to register the product e Click on Do NOT Remove if you do not want to remove a platform investment option This brings the user to the Platform Investment Option Information screen Teacher Retirement System of Texas g9 Revised October 30 2009 403 b Product Registration System User Manual v3 0 XXVI View Platform Investment Option Summary e The Platform Investment Option Summary screen lists all platform investment option product and investment option fees and can be accessed from the Platform Investment Option Information screen Annual Fixed Dollar Fee Done L Internet R100 e Pl
116. urrender Surrender Withdrawal Withdrawal Charge Period 5 000 1 year 4500 o 2 years 3 500 oo 4 years 2500 oo 6 years 0 500 oo 10 years 11 years 12 years The amount of the charge will depend on how long your contract has been in effect This fee has a rate that ranges between 0 500 and 5 000 and is applied annually The amount of withdrawal charge assessed against the contract will not exceed 5 of purchase payments under the contract When does the fee apply and how is it calculated Limit 300 characters Fee waived 10 of contract value per year for death disability financial hardship nursing home medical expenses and terminal illness What are the fee waivers breakpoints and caps Limit 300 characters Is this an optional fee No Yes Do Not Save Teacher Retirement System of Texas 18 Revised October 30 2009 403 b Product Registration System User Manual v3 0 E Add Product Surrender Withdrawal Charge continued e Enter the product Fee Name Note There is an 80 character limit including spaces in this text field e Enter the Maximum Annualized Fee Percentage you must round to three decimal places For example this fee has a rate that ranges between 0 500 and 5 000 and is applied annually the maximum annualized fee percentage is 5 000 FEE MAXIMUMSS Fees may not exceed maximums for the same fee type All product fees and associated investment
117. vate Platform Investment Option continued Company Name Certified Product Type Investment Option Name Investment Option Number Investment Option Type Investment Option Status Review Status Last Changed By Submit Inactivation on Web List Are you sure you want to submit this platform investment option for inactivation If approved this platform investment option will be displayed on the Inactive Products List Platform Investment Option Information User Test Platorm No Proprietary Products 403 b PRS User Manual Subaccount Test Fund 999 P007 Custodial Account Active Accepted S9S9UPOOL Annual Fixed Dollar Fee Fee Name Maximum Annualized Fee Amount When does the fee apply and how is it calculated What are the fee waivers breakpoints and caps Is this an optional fee Platform Contract Fee 15 00 Applies Annually at contract anniversary Calculated Flat dollar amount Breakpoint This fee is waived if contract value is greater than 60 000 on the date the fee is deducted No Asset Based Fee Fee Name Maximum Annualized Fee Percentage When does the fee apply and how is it calculated What are the fee waivers breakpoints and caps Management Fee 0 030 Fee applied Daily as a percentage of average daily account value Calculated Charged monthly None Is this an optional fee No ne Screen continued bel
118. vestment Option Information screen identifies the Base Investment Option Number 100 015 001 the Platform Investment Option Number assigned to this platform product 999 P007 The Platform Investment Option Status Active the Review Status Pending Add and the User ID of the person who made the last change 99UP001 are also shown e This screen provides access to various other screens that allow actions such as adding editing or removing platform investment option fees discontinuing or removing platform investment options and submitting a platform investment option to TRS for review Note If a user has logged into the PRS and needs to access the Platform Investment Option Information screen select List All Products from the menu bar on the left side of the screen Click on the desired product to be taken to the Platform Investment Option Information screen Teacher Retirement System of Texas 78 Revised October 30 2009 403 b Product Registration System User Manual v3 0 XXIV Add Edit or Remove Platform Investment Option Fees A Add Platform Investment Option Fees e This screen is accessed by selecting Add Edit or Remove Platform Investment Option Fees on the Platform Investment Option Information screen Done neme EEE e To add a platform investment option fee select the fee type to be added and complete all required fields e For examples of added fee types see section VIII subsections A G e

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