The new R shares are designed to provide retirement plans greater pricing flexibility based on their size, the announcement said.
Class R-1 shares are designed for micro to small employer-sponsored retirement plans. R-1 shares are subject to 12b-1 fees of 80 basis points (75 bps paid to broker/dealers).
Class R-2 shares are designed for small- to mid-sized retirement plans and are subject to 12b-1 fees of 55 bps (50 bps paid to broker-dealers).
The new share classes became available March 1.