Policy for crediting mutual fund revenue to plan participants
The following procedure is used to credit mutual fund payments to participant accounts. Contact your trustee to determine if your plan qualifies.
Revenue paid to Slavic Investment Corp. (SIC) as broker of record listed with the Mutual Fund Companies, will be credited to participant accounts on a cash basis. This revenue can include 12b-1, sub TA and SSF payments paid to the broker of record - usually with a three-month lag, but as long as a 13-month lag. SIC receives these payments, and, on a pro-rata basis, credits participants who hold the funds on the date the credit is processed - typically within 30 days of receipt of payment. No allocation of this revenue will occur to participants who traded out of the funds before the processing date. Unallocated revenue, if any, will be credited to a suspense account and allocated pro-rata on an annual basis to the plan participants.
Slavic only receives 65% of the SubTA and SSF payments for qualified funds for plans trading on the Fidelity platform. The revenue is credited to participants accounts as noted above.