How much does a Superfund cost?

How much does a Superfund cost?

Fees include administration, investment and performance fees, as well as other indirect costs. On average, people in the default investment option pay between 0.88% to 1.24% of their account balance in fees per year, depending on their age and super balance and based on super products in Canstar’s database.

What Superfund means?

Comprehensive Environmental Response, Compensation and Liability Act
In response, Congress established the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA) in 1980. CERCLA is informally called Superfund. When there is no viable responsible party, Superfund gives EPA the funds and authority to clean up contaminated sites.

What is the Superfund bill?

An act to provide for liability, compensation, cleanup, and emergency response for hazardous substances released into the environment and the cleanup of inactive hazardous waste disposal sites. …

Which super fund has the cheapest fees?

10 cheapest pension funds (balanced investment option)

Rank Fund name Fees
1 REST $378
2 Hostplus $384
3 Media Super $540
4 NGS Super $540

Is Superfund still funded?

Funding Superfund work Cumulatively, as of the end of FY 2020, approximately $4.7 billion has been disbursed or obligated for Superfund cleanups from these accounts.

How much does it cost to clean up a Superfund site?

Because Superfund sites cost anywhere from $15 million to $100 million to clean, identified PRPs will seek out the others involved, and the companies decide among themselves how much each party is responsible for. Superfund also holds polluters responsible after the site is cleaned up.

What does the EPA do with the money from the Superfund?

EPA uses the money deposited in special accounts for cleanup and enforcement activities at the site for which it received the money. EPA policy is that funds from a settlement should be deposited into a special account only if future work remains at that site.

What are the different types of Superfund costs?

Types of Superfund Response Costs Type Overview Direct costs Expenses directly traced to a particular Contractors’ annual allocation costs Money spent by government contractors do Indirect costs Indirect costs are EPA’s expenses for ma

How much does it cost to set up a super fund?

Usually this fee is negotiable with your adviser and it varies from zero to 5%. This means that for every $100 paid into your account, the account may be credited with only $95. The cost of insurance provided through your super fund is taken out of your balance automatically.