fee disclosure on annuity

[K2retire]

Client has a profit sharing plan that allows self directed brokerage accounts. Within a couple of those the participants have purchased annuities. The particular product that is currently in the account is no longer being offered by the insurance company. For purposes of the disclosure should the fees reflect what the existing participants are paying, or what a participant wishing to buy a new annuity would be charged?

[mbozek]

Client has a profit sharing plan that allows self directed brokerage accounts. Within a couple of those the participants have purchased annuities. The particular product that is currently in the account is no longer being offered by the insurance company. For purposes of the disclosure should the fees reflect what the existing participants are paying, or what a participant wishing to buy a new annuity would be charged?

is this a fixed, variable or indexed annuity? I dont know what fees there would be with a fixed annuity other than the commission?

I don't see any benefit to listing fees for a product that is not available to a participant who wants to purchase an annuity today.

[K2retire]

The statement says it is a deferred variable annuity. A quarterly "rider charge" is being deducted. The amount appears to be related to the contract value.

[QDROphile]

If the annuities were individual purchases through a brokerage window, what is the need for fee disclosure? Are you asking beyond the plan's perspective?

[K2retire]

If the annuities were individual purchases through a brokerage window, what is the need for fee disclosure?

That is essentially my question. I can see on the statements that the annuities assess fees each quarter. I'm trying to figure out what, if anything, the employer must include on the participant fee disclosure about those fees.