MPDT vs. Others
Executive Director & Trustees
Frequently Asked Questions
Fees paid to Maine Pooled Disability Trust|
Fees Paid to Charter Trust Company
- A one-time joinder fee of $900.00 to open a subaccount
- An annual administrative fee of $360.00 for each fiscal year beginning July 1 and ending June 30.
The annual administrative fee will be waived for subaccounts with balances less than $1,000.00 on July 1.
For new subaccounts, the annual administrative fee will prorated at the rate of $30.00 per month from date of funding through the next June 30.
- Costs, fees and expenses related only to a specific subaccount will be charged to the subaccount affected.
- All professional fees, administrative expenses, charges and other fees and costs incurred in the administration, creation and/or protection of the Trust, unless directly attributable only to a specific subaccount, shall be charged generally against the Trust and shall be paid prior to allocation of net income to any of the Trust subaccounts, or out of the principal of the Trust subaccounts.
Charter Trust Company is an independent financial institution that issues all subaccount disbursement checks, prepares quarterly subaccount statements and issues year-end income tax forms K-1 for each subaccount. Charter Trust Company's fees are:
Additional fees may apply to subaccounts containing assets other than cash.
- One Percent (.01) annually based on the month-end market value of the subaccount. This fee is payable monthly, charged directly to each subaccount, and is calculated on the previous month-end market value of the subaccount.
- Each subaccount may have 24 disbursement checks per year without charge. There will be a $10.00 charge per check for each additional check.