Washington Administrative Code › Title 365 - Commerce, Department of (Community Development) › Chapter 365-220 - Developmental disabilities endowment trust fund › FEES › Section 365-220-080 - What fees must be paid to enroll in and participate in the trust fund?

Current through Register Vol. 24-14, July 15, 2024
The following fees may be charged by entities or individuals
							associated with the developmental disabilities endowment trust fund as a
							condition of participation:
(1) State
						investment board fees. All investment and operating costs associated with the
						investment of money shall be paid to the state investment board from the trust
						fund, as required by
						RCW
						 43.33A.160 and
						43.84.160.
(2) State treasurer fees. Fees charged for
						the services of the state treasurer will not exceed .00274% per day while funds
						remain in the custody of the state treasurer, as specified in
						RCW
						 43.08.190. State treasurer fees will be
						deducted from the trust fund.
(3)
						Annual management fees. An annual management fee will be charged to each
						individual trust account for services and other expenses deemed necessary by
						the governing board. The governing board shall authorize all changes in the
						annual management fees. The governing board may establish a minimum and a
						maximum annual management fee. Primary representatives of existing accounts
						will be notified sixty days in advance of the effective date of any changes in
						the minimum or maximum annual management fees.
(4) Enrollment fees. A six hundred dollar
						enrollment fee will be charged for each individual trust account at the time of
						enrollment. The governing board may adjust the enrollment fee on an annual
						basis, consistent with the limits set forth in
						RCW
						 43.135.055. The governing board shall
						authorize all changes in enrollment fees.
(5) Trust manager fees. Any fees for trust
						manager services will be charged by the entity under contract for trust
						management according to the terms of the contract between the trust manager and
						the developmental disabilities endowment trust fund. Current fee levels will be
						disclosed prior to enrollment. The governing board shall authorize all changes
						in the trust manager fees. Primary representatives of existing accounts will be
						notified sixty days in advance of the effective date of any changes in trust
						manager fees.
(6) Tax return
						preparation and filing fees. As necessary, the fees associated with preparing
						and filing tax returns for individual trust accounts will be deducted from
						those accounts. Current fee levels will be disclosed prior to enrollment. The
						governing board shall authorize all changes in tax return preparation and
						filing fees. Primary representatives of existing accounts will be notified
						sixty days in advance of the effective date of any changes in tax return
						preparation and filing fees.
(7)
						Fees for locating remainder beneficiaries named in the disposition plan. The
						governing board or its designee reserves the right to charge fees to cover the
						costs associated with locating any remainder beneficiary under the disposition
						plan. Fees for locating a remainder beneficiary of an individual trust account
						will be levied only against such accounts.
(8) Fees for resolving disposition plans and
						remainder beneficiaries. The governing board or its designee reserves the right
						to charge fees to cover the costs associated with resolving any remainder
						beneficiary under a disposition plan or terminating an account. This could
						include, but not be limited to, resolving tribal per capita payments, payments
						under the Alaska Native Claims Settlement Act, unnamed heirs in law, and
						nonjudicial agreements changing the disposition plan pursuant to WAC
						365-220-045.
						Fees for resolving disposition plans or terminating an individual trust account
						will be levied only against such accounts.
Statutory Authority: RCW  43.330.240. 02-07-026, §
											365-220-080, filed 3/12/02,
								effective 4/12/02.