Aimed toward those managing 403(b), 457 and 401(k) retirement programs, MasterRecordkeeper consolidates plan administration to provide a single source for plan sponsors and participants. With this service, Fidelity can deliver plan information, investment education, and account access to the nearly 14,000 plans and more than 1.8 million participants in higher education, health care, public sector and other tax-exempt organizations it services, according to a news release.
According to Fidelity, benefits to plan sponsors include:
- real-time access to plan information via telephone or online
- consolidated payroll and data remittance
- ability to drive targeted education programs
- business planning.
Participants will be able to utilize:
- multi-channel access to account, investment, and plan information via telephone and the NetBenefits Web site
- single source for enrollment, contribution changes, and investment exchanges
- consolidated account statements for mutual fund and annuity holdings
- single communication and education program targeted to meet their needs.