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Five-Year Total Benefits Outsourcing Contract to Commence in January 2009
BOSTON, June 25, 2008 - Fidelity Investments today announced it has been chosen by Texas Instruments to provide the company with benefits administration.
Under the five year agreement, which will commence in January 2009, Fidelity will provide health & insurance administration, health management tools, as well as recordkeeping services, for Texas Instruments' (TI) defined contribution and defined benefit plans. More than 13,000 active TI employees, as well as retirees and their families, will gain access to Fidelity's health and financial benefits platform.
"A critical factor in selecting Fidelity was its ongoing investment in technology and tools that will provide our employees with a more holistic view of their health and its impact on their day-to-day finances and long-term wealth accumulation," said Lita Alessandra, vice president and manager of compensation and benefits for TI. "For our employees to stay focused on customer needs, they must be able to handle their personal benefits quickly, securely and confidently. We believe Fidelity is the best company to deliver the level of support our employees and families need."
"We are thrilled to have been chosen by Texas Instruments to support its efforts to create a comprehensive and engaging employee benefits program," said Patrick F. Goepel, president of Fidelity's Human Resource Services business. "Fidelity is committed to providing the industry-leading tools, diversity of investment products and strong support services that will ensure every participant in this program can take full advantage of the many, generous benefits being offered by TI."
Fidelity Human Resource Services, a unit of Fidelity Investments, provides HR outsourcing services to large, mid-sized and small organizations. The company's offerings include comprehensive human resource management, talent acquisition & management, benefits management, payroll and strategic consulting.
About Fidelity Investments
Fidelity Investments is one of the world's largest providers of financial services, with custodied assets of more than $3.4 trillion, including managed assets of more than $1.6 trillion as of May 31, 2008. Fidelity offers investment management, retirement planning, brokerage, and human resources and benefits outsourcing services to 24 million individuals and institutions as well as through 5,500 financial intermediary firms. The firm is the largest mutual fund company in the United States, the No. 1 provider of workplace retirement savings plans, the largest mutual fund supermarket and a leading online brokerage firm. For more information about Fidelity Investments, visit www.fidelity.com.
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Fidelity Brokerage Services LLC, Member NYSE, SIPC,
100 Summer Street, Boston, MA 02110 |