In September, Fidelity made several changes to funds available in the GW retirement plans. These changes were communicated to participants in August and were initiated by Fidelity to provide a better participant experience; the first change streamlines the Money Market Fund options available in the plans, and the second leads to lower fees in the Fidelity Freedom Funds.
- Fidelity merged the Fidelity Money Market Trust Retirement Government Money Market Portfolio and the Fidelity Money Market Trust Retirement Government Money Market II Portfolio into the existing Fidelity Government Money Market Fund.
As a result, the Fidelity Money Market Trust Retirement Government Money Market Portfolio and the Fidelity Money Market Trust Retirement Government Money Market II Portfolio will no longer be available investments in the GW retirement plans. All existing balances and future contributions to these funds were transferred to the Fidelity Government Money Market Fund.
- Fidelity has updated the fee structure for certain Fidelity Freedom Funds. Instead of fees being charged to each of the underlying funds within each Freedom Fund, a set fee will be charged to each Freedom Fund as a whole. This change lowers the average expense ratios in the Freedom Funds by about 2 basis points
The transfer of any balances related to these fund actions appeared as an exchange on your online account history and your quarterly statement.
For more information, please contact Fidelity at (800) 343-0860. To view or change your investment elections, log on to https://nb.fidelity.com/public/nb/gw/home.
