Roll Call: Fidelity Selected by Notre Dame, Vanderbilt and Arizona University System as Workplace Retirement Savings Provider

BOSTON – Fidelity Investments, a leading provider of workplace retirement plans for not-for-profit higher education institutions, today announced it has been chosen as the exclusive retirement savings provider by University of Notre Dame and Vanderbilt University and Medical Center. In addition, Fidelity has been selected to provide investment and recordkeeping services for a voluntary retirement plan through the Arizona Board of Regents (ABOR), the governing board for Arizona’s public universities. Fidelity is offering a comprehensive suite of guidance, education and financial services to more than 80,000 employees across these universities to help their employees maximize their retirement benefits.

"The higher education marketplace continues to see retirement plan consolidation as employers strive to simplify administration, improve the employee planning experience and drive better retirement savings outcomes. We’re pleased Fidelity is increasingly being selected to help higher education institutions successfully navigate this process and deliver retirement solutions to help their employees meet their financial goals,” said Rick Mitchell, executive vice president, Tax-Exempt Market & Retirement Solutions, Fidelity Investments.

Following a multi-vendor retirement plan provider consolidation, Fidelity is now the exclusive retirement services provider to University of Notre Dame, extending a relationship that started in 1992, which now includes more than $1.3 billion in retirement assets. Fidelity’s experience with consolidations was instrumental in helping ensure a smooth transition for the University’s faculty and staff with robust communications, education and guidance to effectively explain the process and new retirement benefit offerings.

“The financial health of the Notre Dame community is extremely important to our overall well-being and future, so we were very thoughtful and thorough in selecting an exclusive retirement plan provider,” said Denise Murphy, Director, Benefits and Wellness, University of Notre Dame. “Fidelity’s commitment to understanding our needs and delivering solutions that better engage faculty and staff with financial planning was a clear differentiator that helped drive our decision.”

Vanderbilt University and Medical Center in Nashville, Tennessee, also went through a process to consolidate their $3.4 billion retirement plan from four workplace retirement plan providers to ultimately selecting Fidelity as its one exclusive administrative services provider for its more than 24,000 employees. In choosing Fidelity and continuing a relationship that began in 1998, the University cited the firm’s exceptional client service and the strength of its technology capabilities. Fidelity’s employee-focused retirement programs will give faculty and staff financial guidance that helps them address their retirement readiness.

ABOR, the governing body for Arizona State University, Northern Arizona University and the University of Arizona, has selected Fidelity to provide investment and recordkeeping services for a voluntary 403(b) retirement savings plan, which gives all employees the ability to make contributions up to $18,000 directly from their paychecks to save for retirement above and beyond the mandatory retirement plan limits. Employees who are 50 years old and older may make catch-up contributions of $6,000 in 2015 beyond the basic limit.

Fidelity provides an additional supplemental retirement option for approximately 53,000 employees, including part-time and student workers, in Arizona’s university system that includes nearly $3 billion in ABOR retirement plans.

“Our universities are driven by a high-quality workforce and we are committed to providing competitive benefit packages to our employees so that they have the tools to adequately prepare for retirement,” said Eileen I. Klein, President, Arizona Board of Regents. “We value Fidelity’s expertise in providing retirement services to our employees.”

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 organizations1. 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 $5.0 trillion, including managed assets of $2.0 trillion as of January 31, 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 www.fidelity.com.

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