What are the FMDT fees?
The one-time enrollment fee is $1,000.00.
The annual FMDT trustee fees are currently:
For accounts with a principal balance of $30,000.00 or less, the greater of $300.00 or 1.25% of the principal.
For accounts with a principal balance of more than $30,000.00, the greater of $500.00 or 1.25% of the principal.
Effective July 1, 2010 the annual trust investment company and account administrative fee is 1.1% of the principal.
The account termination/closing fee is 1% of the balance of the account.
Care management services are available on request, and are charged on a pass through basis (estimated at $125.00 per hour).
Each beneficiary will receive an IRS Form 1099 annually.
Fees are subject to change with 30 days written notice.
Where are the trust funds invested?
Susquehanna Trust & Investment Company is the investment manager.
The funds held by Susquehanna Trust & Investment Company are not FDIC insured, as these assets are segregated trust accounts administered by the Trust Company. This means that the funds in FMDT accounts are not bank assets and the bank may not use these funds to provide for other banking activities. The assets in the FMDT individual accounts belong to FMDT, and cannot be used to satisfy liabilities of the bank.
Susquehanna Trust & Investment Company is subject to rigorous and frequent examination by federal and state banking regulators.
This fund does not invest in retail bank products, hence FDIC insurance does not apply to these investments.
Any investment is subject to risk. FMDT’s goal is to preserve individual account funds in a manner which minimizes risk yet offers the opportunity for growth. FMDT regularly reviews the investment strategy and results and reserves the right to change the investments from time to time.