Kwame makes $475,000 annually. He can deposit $23,000 per year into his NYC DCP account (retirement). Kwame currently has $13,000 in his NYC DCP account. He is 36 years old, wants to retire at 67.

DCP Expense Ratio 2045 Fund is 0.18%

If Kwame invested 100% of his current NYC DCP account balance into one of the Target Date Funds, say the 2045 Fund, and if his balance in the fund did not change over the course of the year (*), how much, in dollars and cents, will his overall, all-inclusive cost of investing in the Plan be, per year?

Answer rating: 100% (QA)

To calculate the overall allinclusive cost of investing in the NYC DCP account we will consider the ... View the full answer