Health Care Organizations Increasingly Turning to Fidelity for Workplace Retirement Savings Solutions

Bon Secours Health System, Allina Health and Baptist Health Choose Fidelity's Planning Tools and Educational Guidance to Help Boost Financial Wellness of Employees

BOSTON — Fidelity Investments® strengthens its position as the number one provider of workplace retirement plans for not-for-profit health care institutions1, announcing that Bon Secours Health System has selected the firm as the new retirement services provider for its 25,000 employees. Fidelity also announced it is extending its long-standing relationships with Allina Health and Baptist Health, providing defined contribution retirement savings plan services, as well as a comprehensive suite of guidance, education and investment planning products.

"We're proud to help these prominent health care institutions deliver workplace retirement and financial wellness programs to encourage their employees to take control of their finances and create a solid plan so they can live the lives they want in retirement," said Rick Mitchell, executive vice president, Tax-Exempt Market & Retirement Solutions, Fidelity Investments.

Fidelity was chosen by Bon Secours Health System, a Maryland-based system reaching communities in five other states, including New York, South Carolina, Virginia, Kentucky and Florida, to provide retirement savings programs totaling $840 million in assets. As part of the new relationship, Fidelity will provide a seamless guidance experience (whether onsite, phone or in-person), offer innovative online retirement planning tools accessible via mobile devices, and implement an extensive communication program to help employees understand and make the most of their new retirement savings options. Bon Secours employees will also have access to Fidelity Portfolio Advisory Service at Work (PAS-W) – an opportunity to have a team of professionals actively research, and manage their workplace retirement savings accounts for them.

"Bon Secours is committed to providing excellent employee benefits," said Teresa Encarnacion, Director, Retirement Plans, Bon Secours Health System. "With Fidelity, we are able to offer our employees high-quality financial guidance so they are empowered to care for their own financial health."

Allina Health, based in Minneapolis, Minnesota, and Fidelity extended their long-standing relationship, and Fidelity will continue to offer the firm’s retirement savings plans and financial education to Allina Health’s 25,000 professionals, totaling $2.2 billion assets.

"We look forward to this continued relationship with Fidelity so our employees can take advantage of financial guidance that will help them reach their long-term savings goals," said Steve Wallner, VP, Compensation & Benefits, Allina Health. "Even after 20-plus years working with Fidelity, they continuously seek to offer innovative solutions that keep our employees engaged."

Baptist Health, based in Louisville, Kentucky, continues its exclusive relationship with Fidelity as the sole provider of retirement savings benefits to its 18,000 employees. Building on a relationship that began in 1998, Fidelity will manage $900 million in assets.

"It's imperative that our employees feel confident with their benefits – especially when it concerns their retirement savings," said Mike Daugherty, Director of Corporate Benefits, Baptist Health. "Fidelity has consistently offered comprehensive yet flexible programs that evolve over time, and are designed to address the retirement readiness of our workforce."

Fidelity's Services for the Tax-Exempt Market

Fidelity serves the most plan participants in the not-for-profit workplace retirement savings market, which includes health care, higher education, research, foundations, faith-based, K-12 and other tax-exempt organizations2. Fidelity's comprehensive suite of 403(b) retirement services includes plan design resources, recordkeeping services, consulting and participant communication, education and guidance. With retirement planning professionals and an array of tools and resources to educate plan sponsors, Fidelity helps employers in the tax-exempt market maximize retirement benefits plans and increase employee retirement readiness.

About Fidelity Investments

Fidelity's goal is to make financial expertise broadly accessible and effective in helping people live the lives they want. With assets under administration of $5.2 trillion, including managed assets of $2.1 trillion as of February 28, 2015, we focus on meeting the unique needs of a diverse set of customers: helping over 24 million people investing their own life savings, nearly 20,000 businesses to manage their employee benefit programs, as well as providing nearly 10,000 advisory firms with technology solutions to invest their own clients’ money. Privately held for nearly 70 years, Fidelity employs 41,000 associates who are focused on the long-term success of our customers. For more information about Fidelity Investments, visit

1. LIMRA, "Not-for-Profit Retirement Market (2014, 3rd Quarter)," December 2014
2. LIMRA, "Not-for-Profit Retirement Market (2014, 3rd Quarter)," December 2014
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