Fidelity Investments has won Deutsche Bank's 401(k) business. The bank's plan has roughly 22,000 participants and $2.4 billion under management.
The new plan, which Deutsche Bank designed with enhancing their employees' retirement readiness in mind, includes an auto enrollment capability, a "generous" company match and an elective auto increase program to encourage increased savings rates, according to a statement from Fidelity.
Employees will have the option of enlisting Fidelity's managed account services, and accessing a self-directed brokerage window to add options to the plan's core fund menu.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
