FedEx Corp., Memphis, Tenn., hired Fidelity Investments as record keeper of its Pilots' Retirement Savings Plan, a transition brochure posted on the retirement plan's website shows.
Fidelity replaced Vanguard Group as record keeper of the pilots' 401(k) plan effective Jan. 2, according to the materials. A blackout period for participants began at 4 p.m. EST on Dec. 26 and is scheduled to end during the week of Jan. 6.
The investment options, according to the brochure, will not change. The current investment options lineup consists of 18 investment options (17 of which are managed by Vanguard), a company stock fund and a target-date fund lineup managed by Vanguard.
As of Dec. 31, 2017, the Federal Express Corp. Pilots Retirement Savings Plan had $3.3 billion in assets, according to the company's most recent Form 5500 filing.
Shannon Davis, FedEx spokeswoman, could not be immediately reached to provide further information.
