For the third time since the STARS program was re-launched five years ago, trustee fees charged by UTC have dropped again. Each time assets grow to meet a new threshold amount, fees on the assets above that amount decrease. Last quarter, ending December 31, 2014, total assets reached $10.8 million, exceeding the $10 million breakpoint. This amount is the combined value of participant holdings in the program.
Trustee fees decreased five basis points to 36.25 basis points or 36.25 percent of one percent. Each reduction is shared with all participants. The next breakpoint is $20 million, so we can all benefit as new agencies join and participants continue to contribute to their retirement plans.