Fidelity Investments has become the sole provider of retirement services for Hanesbrands, maker of bras, T-shirts and other underwear.
Fidelity is now responsible for Hanesbrands' 401(k) and employee stock plan services for a total of approximately 12,000 eligible company employees. Retirement assets for the company total $700 million.
Expenses for Hanesbrands' plans totaled nearly $23 million in 2014, according to the company's annual report.
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Based in Winston-Salem, N.C., the company is the parent of Hanes as well as apparel companies Champion, Bali, Playtex and Maidenform.
Fidelity currently has assets under administration totaling approximately $5 trillion, including managed assets that, as of Jan. 31, totaled $2 trillion.
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