Fidelity Investments(R) today announced that millions of 401(k), 403(b) and 457 retirement plan investors it serves will be able to access their accounts over the Internet via wireless devices this fall and will be able to conduct transactions within their accounts next year.
Fidelity said wireless access via two-way pagers, Internet-ready cellular phones and handheld computers will allow today's mobile workforce to more easily monitor and manage their retirement savings accounts. Fidelity said wireless Web access will be available to nearly 8 million plan participants through NetBenefits(SM), Fidelity's award-winning online service.
"The Internet is the most popular way for plan participants to access their retirement plan accounts and monitor their holdings on a regular basis," said Joseph P. LoRusso, president of Fidelity Institutional Retirement Services Company, the nation's largest provider of 401(k) plans. "In today's mobile workplace, account access will be even easier with Web phones, handheld computers, and two-way pagers, which also can be more economical than personal computers."
This past summer, Fidelity began offering retirement account access to about 1 million participants who have personal brokerage accounts at Fidelity via many popular wireless devices such as handheld computers and Internet-ready cellular phones. As part of its expanded wireless offering, Fidelity said retirement account and fund balances would be available for all of its participants by year-end.
In the first half of 2001, Fidelity plans to offer participants access to additional functionality, including conducting exchanges among investment options offered in their plans, and directing contributions made through payroll deductions.
"Wireless technology is the next generation of Internet access for retirement plan management," LoRusso said. "As the popularity of these mobile devices grows, we will continue to enhance our capabilities so that participants can access and manage their portfolios in whichever way they prefer to conduct business."
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