On the State of North Carolina's 401k plan Stable Value Fund; Could be a $4,844,452.19 annual increase for North Carolina's employees

As of 3/31/14, there was $1,877,694,648 in North Carolina's Stable Value Fund, provided by Wells Fargo Bank, in which state and local municipal employees are invested.

At 0.44% expense ratio, it looks like Wells Fargo charges about $8,261,856.45 per year to manage the $1,877,694,648 Stable Value Fund.

https://www.nctreasurer.com/ret/401k%20Plan%20Features/StableValue401k.pdf

Wells Fargo Stable Value Fund N4 (K) (CUSIP 949907208), according to Wells Fargo, charges 0.182%;

http://www.galliard.com/srfssvdisclosures

If $1,877,694,648 is being managed by Wells Fargo for North Carolina employees for $8,261,856.45, and at 0.182%, the same employees could pay $3,417,404.26;

$8,261,856.45 - $3,417,404.26 = $4,844,452.19

North Carolina Municipal employees could put an extra $4,844,452.19 every year in their pockets if the State Treasurer lowered the fees being paid to Wells Fargo.