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Raytheon Signs Renewal with Fidelity® for 401(k) ServicesBOSTON – Fidelity Investments® today announced that Raytheon Company (NYSE: RTN), a technology and innovation leader, has renewed its long-standing relationship with Fidelity for defined contribution retirement services. The two companies have a 20-year relationship that began in 1992 and will now extend through 2017, with Fidelity delivering 401(k) recordkeeping services to more than 100,000 Raytheon participants with assets reaching nearly $12 billion.
“Our benefits team performed a careful review of providers to ensure our participants are receiving superior service with access to leading education and online technology to help guide our employees with their retirement planning,” said Diane Avellar, vice president, Benefits, Performance Development and Global Health Resources, Raytheon. “Fidelity’s record of excellent service and its continuous commitment to providing the best participant experience made them the clear choice.”
“We look forward to providing Raytheon and its participants outstanding 401(k) service for many more years to come,” said Jeffrey Lagarce, executive vice president, Workplace Investing, Fidelity Investments. “Fidelity’s investment in technology and innovation, such as our enhanced NetBenefits® portal, smartphone apps and e-education programs, help ensure we deliver the best experience possible to our workplace participants.”
Fidelity is the nation’s leading provider of retirement servicesi. The firm’s recordkeeping platform, open fund selection, engaging mobile applications and educational guidance all combine to deliver exceptional retirement programs and service. Fidelity’s workplace retirement education can be accessed by Raytheon employees through on-site workshops, over the phone with Fidelity representatives dedicated to workplace plans, online through interactive tools and calculators, and at 169 investor centers nationwide.
About Fidelity Investments
Fidelity Investments is one of the world’s largest providers of financial services, with assets under administration of $3.5 trillion, including managed assets of $1.6 trillion, as of January 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.
i PlanSponsor DC Recordkeeping Survey, June 2011, and Cerulli Edge Retirement Edition, Fourth Quarter 2011.