Fidelity Offers Wireless Touch

September 5, 2001 (PLANSPONSOR.com) - Fidelity Investments- retirement plan participants will soon be able to conduct Internet transactions via phones, pagers, and other wireless equipment.

The company announced Wednesday that the wireless transaction capability for nearly 10 million 401(k), 403(b) and 457 investors should be available this month.

Fidelity has offered wireless access to retirement account balances and positions via Fidelity NetBenefits, the site for defined contribution plan participants, since mid-2000.

Wireless Window

The new account access options will allow customers to use Internet-ready phones, two-way pagers, and hand held computers to manage their workplace savings programs and retail brokerage and mutual fund accounts.

As part of the new capabilities for employer-sponsored retirement plans, wireless participants will be able to:

  • obtain quotes for mutual funds and individual securities
  • move money between investment options
  • adjust the percentage of future payroll deductions
  • change how future contributions are allocated among investment¬†options.

Since Fidelity began offering wireless capabilities to plan participants last summer, more than 11,000 participants have accessed their account information through wireless devices.

This volume is increasing by about 1,500 participants each month. Web-enabled phones have been the most popular wireless devices among plan participants.

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