Changes Coming to 401(k) Plan

In September and October, funds offered by the Exchange 401(k) Retirement Savings Plan will change.

• Around Sept. 8, Fidelity will transfer balances in the “Freedom K” Funds to new “Freedom Class K” Funds. The Class K Funds will become the default target date funds for the 401(k) plan.
• Around Sept. 22, Fidelity will merge Fidelity Money Market Trust Retirement Government Market and Money Fidelity Money Market Trust Retirement Government Market II into the Fidelity Government Money Market Fund.
• In October, the U.S. Equity Index Commingled Pool is terminating and all funds will be automatically redirected to the Spartan 500 Index Pool. 

Fidelity is moving to new Freedom Funds because of lower operating expenses. Read more about fees on investment funds by visiting 401k.com, then click on View Summary. Scroll down below the investment choices options. Click on one of the funds and then Look at Fees and Pricing.

These changes cost you nothing. You also don’t need to do anything, because the funds will transfer automatically. However, you can log onto 401k.com and move funds to other investments.

For further information or to make changes in your investments, log on to your account or call Fidelity at 800-835-5098.