On Friday, May 27 the Solutions Center will close at 8 p.m. Eastern time, in observance of the Memorial Day holiday and reopen for standard hours on Tuesday, May 31. The New York Stock Exchange will be closed on Monday, May 30. Exchange orders received on or after 4 p.m. Eastern time, on Friday, May 27 will be effective with trades processed on Tuesday, May 31 using that day’s closing prices.
The City of Las Vegas Investment Committee is pleased to share that, effective April 1, 2022, the administrative fee on assets in the City’s 457(b) and 401(a) Defined Contribution Retirement Plans is being reduced from 5.0 to 3.5 basis points (bps). This means that going forward, you will be assessed an annualized fee of $3.50 for every $1,000 in your retirement account (a 30% reduction). An administrative fee of 3.5 bps is among the lowest available to employer retirement plans. Also, the City will be completing a pro-rata excess revenue disbursement to participants in second quarter 2022 to align with the new lower fee; as a result you may see a credit in your account(s). Want to learn more? Contact us at 877-677-3678.