The Retirement Cash Account, provided by non-affiliated bank JPMorgan Chase Bank, N.A. (“JPMorgan”), is a cash deposit option for retirement plans custodied or sub-custodied at Matrix Trust Company ("Matrix Trust").
This bank account offers consumers FDIC insurance protection up to the applicable limit per depositor (participant), which is currently $250,0001 .
Key Features of the Retirement Cash Account
- Interest payments are calculated using the average daily balance and credited to the Retirement Cash Account on the first business day of the following month2
- FDIC Insured
- No minimum deposit
- Daily liquidity
- No redemption restrictions
For Current Rate Information:
Since the Retirement Cash Account is a bank account rather than an SEC-registered mutual fund, it has no expense ratio or prospectus. The rate of return may vary with market conditions and is subject to adjustment periodically by Matrix Trust Company. A servicing fee for certain services provided, such as processing transactions and reconciling aggregate account activity, is payable from JPMorgan to Matrix Trust in connection with the Retirement Cash Account and its accountholders.4
DISCLOSURES
1 Cash in the Retirement Cash Account is held at JPMorgan. Deposits at JPMorgan are eligible for FDIC insurance of up to the applicable limit per depositor. For additional information regarding FDIC insurance, please visit www.fdic.gov or call 1-877-ASK-FDIC. JPMorgan is a national bank chartered under the laws of the United States of America. Matrix Trust is a Colorado State chartered non-depository trust company and a wholly owned subsidiary of Broadridge Financial Solutions, Inc. (“Broadridge”). JPMorgan and Matrix Trust are not affiliated companies.