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Fidelity® Simplifies Global Stock Plan Administration
New Tools Help Employers with Reporting and Mobility in Multiple CountriesBOSTON – Fidelity Investments® announced today the launch of a comprehensive plan sponsor website, Global Solutions, that will assist companies in managing employee stock plans in multiple countries.
With Fidelity’s Global Solutions, which consolidates all of Fidelity’s global stock plan services into one robust site, plan sponsors can find information about managing global stock plan requirements (e.g. mandatory cash sweeps1); completing plan administration and reporting (e.g. long-share reporting2); tax and regulatory support; participant support (e.g. making transaction proceeds available in 130 currencies) and multilingual support (e.g. participant website in 11 languages, including the newly added Malay, Thai and Vietnamese).
Fidelity’s industry leading stock plan enhancements come at a time when an increasing number of corporations in the United States report they have employees operating in other nations and are growing their non-US workforces significantly faster than their US workforces.3 Fidelity provides administrative services for stock plans in more than 150 countries.
“As today’s workforces become increasingly mobile and employees more frequently relocate to locations across the globe, we recognize at Fidelity that plan sponsors need help tracking what may seem at times a bewildering array of tax and regulatory requirements, said Kevin Barry, Fidelity executive vice president.
“We have invested heavily in industry- leading tools to help ensure that our plan sponsors around the world have the best experience for themselves and their participants,” Barry said.
Global Solutions Offers Multiple Support Services
On the Global Solutions site, employers have access to numerous new support services. They include the following:
About Fidelity Investments
Fidelity Investments is one of the world’s largest providers of financial services, with assets under administration of $3.8 trillion, including managed assets of $1.6 trillion, as of October 31, 2012. Founded in 1946, the firm is a leading provider of investment management, retirement planning, portfolio guidance, brokerage, benefits outsourcing and many other financial products and services to more than 20 million individuals and institutions, as well as through 5,000 financial intermediary firms. For more information about Fidelity Investments, visit www.fidelity.com.
1) When an employer is required to move proceeds from one country to another for distribution to the participant