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I believe we should do that by providing a front-end incentive, which would be a tax rebate on the first $2,000 saved by a person each year.
‘This has been a large front-end expenditure for us before we even see a dime of revenues from the settlement,’ he says.
But those returns don't take into account taxes or front-end sales charges.
Even without the high front-end payments, many policyholders faced unknown and potentially high copayments.
The fund lost 8.4 percent a year, on average, for the three years through March, adjusted for its 5.5 percent front-end sales load, or sales charge.
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