BOSTON--(BUSINESS WIRE)--Fidelity Investments®, the nation’s No. 1 provider of workplace retirement savings plans 1, today announced it has extended its relationship with HP, the world’s largest technology company, to provide its employees in North America with total retirement services for an additional five years. The extension began on January 1, 2011.
The agreement extends the relationship Fidelity and HP began in 1991. As a part of the agreement, Fidelity will begin servicing an additional 162,500 participants in the EDS2 retirement plans previously serviced by other providers. In total, Fidelity will now be servicing all of HP’s retirement plan participants, covering more than 135,000 defined contribution and 192,000 defined benefit participants3. As of November 30, 2010, HP’s defined contribution assets totaled $14.2 billion.
“Fidelity’s service commitment, flexibility in meeting HP’s changing needs, and its proven record of operational excellence in implementing and recordkeeping large, complex retirement plans made it the right partner for HP,” said Michael Ross, vice president, Total Rewards, for HP.
“We are proud to be growing and extending our nearly twenty year relationship with HP,” said Jeffrey Lagarce, executive vice president, Workplace Investing, Fidelity Investments. “As we enter the next phase of our relationship with HP and its participants, we will focus on continuing to innovate in order to provide the best possible retirement experience that will help HP’s participants make informed decisions that should ultimately lead to a successful retirement.”
HP participants will continue to access their retirement accounts as well as planning tools through Fidelity’s award-winning4 NetBenefits® Web site. They may also receive personal finance education and employer benefit support through HP Finance Central, a customized retirement planning portal developed by Fidelity’s Benefits Consulting business. In addition, participants have access to virtual guidance and telephone support, Web-based workshops and seminars, plus in-person assistance at Fidelity’s 152 investor centers.
About HP
HP creates new possibilities for technology to have a meaningful impact on people, businesses, governments and society. The world’s largest technology company, HP brings together a portfolio that spans printing, personal computing, software, services and IT infrastructure to solve customer problems. More information about HP (NYSE: HPQ) is available at http://www.hp.com/.
About Fidelity Investments
Fidelity Investments is one of the world’s largest providers of financial services, with assets under administration of nearly $3.5 trillion, including managed assets of $1.6 trillion, as of December 31, 2010. Founded in 1946, the firm is a leading provider of investment management, retirement planning, portfolio guidance, brokerage, benefits outsourcing and many other financial products and services to more than 20 million individuals and institutions, as well as through 5,000 financial intermediary firms. For more information about Fidelity Investments, visit www.fidelity.com.
HP is not affiliated with Fidelity Investments.
Guidance provided by Fidelity is educational in nature, is not individualized and is not intended to serve as the primary or sole basis for your investment or tax-planning decisions.
Keep in mind that investing involves risk. The investment’s value will fluctuate over time and an investor may gain or lose money.
Fidelity Brokerage Services LLC, Member NYSE, SIPC
900
Salem Street,
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1 PlanSponsor, 2010 Recordkeeper Survey, published June 30,
2010 and Cerulli, Edge-Retirement Markets, published third quarter 2010.
2
Electronic Data Systems.
3 Active, terminated and
vested, in both nonqualified and qualified plans, in North America and
Puerto Rico.
4 Independent analyst firm, kasina.com,
ranked Fidelity #1 in its “2010 Top 5 Web Sites for Plan Participants.”