The California plan expense ratio varies – the standard index portfolio is .50%. They have actively managed portfolios that range from .72% to 1.09% and a social choice portfolio at .80%.
I am not sure exactly why – but the Fidelity portion of the expenxe is only .40% – the extra .10% is a “State Fee”. That same fee is included in every one of the portfolios.
Added: Here is Fidelity’s comment on the “State Fee” –
“The State Fee is the percentage of net assets paid to California’s ScholarShare Investment Board for administrative costs.”
