Synonyms for “Receive”:   “Charge,” “Levy,” “Assess,” “Subtract,” “Deduct,” “Reduce”

“TFLIC receives an asset charge of 1.18% from the assets of the separate account.”


On the list of really annoying things about a great many mutual funds and how they disclose their (too-high) fees, add this one:  a bond fund sponsored by Transamerica Financial Life Insurance (“TFLIC”) — one of the choices in my wife’s 401(k) plan — that includes the disclosure (above) about its fees.

Because Transamerica is clearly confused about the definition of “receive,” herewith is how Webster’s Dictionary defines it:

Re•ceive”  \ri-‘sev\  :  to come into possession of:   acquire <receive a gift>

Some gift.

Compounding matters:  a charge of 1.18% appears to be exorbitant for the related investment vehicle.

Maybe Transamerica should “receive” a fine for employing misleading disclosure language.

And/or be replaced with another, more forthcoming fund in my wife’s 401(k) menu of choices.

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

Leave a Reply