Fidelity Investments has added features to certain 401(k) plans, including automated rollover and more investment options, and has extended the field of eligible companies.
Fidelitys premium 401(k) service programs, launched in 1998, are sold through advisers to small- and mid-size firms. Fidelity now has more than 1,800 plans, with about $8.5 billion of combined assets under administration.
The automated program can help identify 401(k) or profit-sharing participants who are rolling over assets because of a job change or retirement, Fidelity said.
Participants will receive rollover kits, including a partially completed application and their advisers contact information; advisers will receive a weekly e-mail identifying those who are rolling over their assets.