Lower expenses for Retirement Savings Plan fund option

July 16, 2019

Fidelity Investments announces reduced expenses on Fidelity Freedom Index Funds, one of the Retirement Savings Plan investment options.

Fidelity Investments recently announced that it would reduce the expense ratio on Fidelity Freedom Index Funds, one of the fund options available to participants in the Retirement Savings Plan of the Presbyterian Church (U.S.A.) (RSP). The expense ratio, which is the total percentage of fund assets used to operate the fund, will be reduced by 2 basis points (bps) or 0.02 percent. Reduced fees mean lower costs and greater savings for RSP participants who invest in that fund.

These changes do not affect the funds' codes, ticker symbols, or investment strategies/risk — only the overall expenses. No action is required by RSP participants.

Fidelity Freedom Index Funds are target date funds, a single-fund approach to investing that contains professionally managed investments to meet the needs of someone planning to retire near a target year. Over time, the investments are changed so that the closer you get to the retirement target date, the more conservative your investments become.

The Board of Pensions works closely with Fidelity to ensure the competitiveness and investment value of the RSP.

Learn more about the RSP. For additional information, call Fidelity at 800-343-0860 (mention plan #57887) or call the Board of Pensions at 800-773-7752 (800-PRESPLAN) and speak with a service representative.