Pioneer alters commissions paid to brokers of employer-sponsored plans

By Toni Weeks

San Diego, Dec. 29 - Pioneer Investments said it changed the commission paid to brokers for employer-sponsored retirement plans, according to a 497 filing with the Securities and Exchange Commission.

The company will now pay the same commission to broker-dealers, whether their purchases are on behalf of employer-sponsored retirement plan accounts or accounts other than employer-sponsored retirement plans.

The commission will be 1% for purchases up to $4 million, 0.5% for purchases greater than $4 million and less than or equal to $50 million and 0.25% for purchases over $50 million.

The change affects 32 Pioneer funds.

Boston-based Pioneer Investment Management, Inc. is the funds' investment adviser.

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