May 1, 2012 (PLANSPONSOR.com) - In an effort to streamline administration of its 403(b) plans, the University of Washington is reducing the number of providers and selected Fidelity as master administrator.
Fidelity has been working closely with the University of Washington to build a retirement plan that best meets the needs of its participants. Features of the plan include a new Roth 403(b) offering, open architecture fund lineup, enhanced participant communications, easy-to-use online enrollment and guidance for participants at all stages of their lives.
Guidance is available to all employees through on-demand workshops and webcasts, through the Fidelity’s smartphone applications, at 170 investor centers across the country and through Fidelity’s tools suite of online investment and savings calculators. The University of Washington Retirement Plan and the University of Washington Voluntary Investment Program are available to more than 27,000 eligible employees and retirees. Fidelity provides its master administrator service to plans with multiple providers, offering centralized data monitoring.
Fidelity will also become master administrator to Western Washington University with approximately 2,300 participants and Central Washington University with approximately 1,800 participants.