BP America, Warrenville, Ill, rehired Fidelity Investments as administrator and record keeper of the company’s U.S. defined benefit and defined contribution plans and its non-qualified deferred compensation plan, according to a statement from Fidelity.
Fidelity said the contract with BP America will run until 2015.
“The renewal of our contract with Fidelity as our retirement partner ensures that our employees and retirees will continue to have access to a wide range of services offered by Fidelity,” Clifford York, director, retirement plans for BP America, said in the Fidelity statement.
Mr. York confirmed the Fidelity release but said he wasn’t authorized to comment further, deferring inquiries to the BP media office, which couldn’t be reached.
BP had conducted a limited search, said Mike Shamrell, Fidelity spokesman.
BP America had an estimated $5.6 billion in DB assets and $7.6 billion in defined contribution assets as of Sept. 30, according to the latest data from Pensions & Investments.
