Fidelity Investments will assume the responsibility for American Airlines' 401(k) participants beginning in the middle of 2015.
The new relationship comes on the heels of the American and US Airways merger, announced in December of 2013. Fidelity has provided retirement services to US Airways since 1993.
The agreement means Fidelity will serve 120,000 combined participants with total plan assets worth approximately $14 billion for at least the next five years, according to a statement from Fidelity.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
