October 27, 2014 – Boston – Fidelity Investments® today announced that American Airlines has selected Fidelity to provide 401(k) retirement services to American’s plan participants, beginning in mid-2015. Fidelity has provided retirement services since 1993 to US Airways, which merged with American in December 2013. This new five-year agreement will service approximately 120,000 participants in total.
“Fidelity has both the people in place and the innovative technologies needed to manage plans the size of American’s, which will have assets under administration of about $14 billion,” said Steve Patterson, executive vice president of Sales, Fidelity Investments.
“We couldn’t be more thrilled to continue our partnership with Fidelity at new American,” said Elise Eberwein, executive vice president, People and Communications for American. “Our diverse and mobile team of 120,000 aviation professionals deserves a best-in-class administrative partner, and Fidelity provides this level of support and more. From a robust online technology platform to service centers designed to provide individual support, we look forward to supporting our co-workers as they plan for their financial futures.” The American 401(k) plan will help employees make the most of their savings opportunities, no matter their tenure, age or location. To support this, Fidelity works with employer benefits teams to deliver guidance communications to the people who need it most, on topics such as asset allocation or the impact of saving just one percent more per year.
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