Utah Educational Savings Plan


Investment Option Characteristics

All of the account money in this investment option is allocated to the FDIC-insured accounts held in trust by UESP at Sallie Mae Bank and U.S. Bank (Banks).

Contributions to and earnings on the FDIC-Insured investment option are allocated between the Banks according to the following percentages: Sallie Mae Bank (90 percent) and U.S. Bank (10 percent). This money is insured by the FDIC on a pass-through basis to each account owner at each Bank up to the maximum amount set by federal law, which is $250,000. The amount of FDIC insurance provided to an account owner is based on the total of (1) the value of an account owner’s investment in the FDIC-insured account at each Bank plus (2) the value of other accounts held (if any) at each Bank, as determined by the Banks and by FDIC regulations.

Asset Fee Structure Table

FDIC-Insured Savings Fees
Estimated Underlying Fund Expense Ratios1 (A) 0.000%
UESP Administrative Asset Fee2 (B) 0.160%
Total Annual Asset-Based Fees(A+B) 0.160%

1. The estimated expenses per age bracket or investment option represent the weighted averages of the expense ratios of the applicable underlying mutual funds in which each investment option is invested. The expense ratios for the individual mutual funds are shown in the Program Description. The operating expense ratios of the mutual funds are charged against the investments in the funds on a daily basis. There is no expense ratio for the FDIC-insured accounts. The underlying investment expense ratio for the Public Treasurers’ Investment Fund is 0.005 percent, which UESP pays in full. UESP reserves the right to discontinue or limit paying the underlying investment expense ratio on the Public Treasurers’ Investment Fund after giving notice to affected account owners.

2. The UESP Administrative Asset Fee is 0.110 to 0.200 percent annually, charged as described in the Fee Structure section of the Program Description (0.0092 to 0.0167 percent per month). The Administrative Asset Fee is waived for all accounts invested in the Public Treasurers’ Investment Fund that are owned by Utah residents.