Can an employee stay with Fidelity by paying the extra fees from their 401(k) account that HR is claiming it will save by switching to JP Morgan?
No. The AEP Retirement Savings Plan is being converted in its entirety from Fidelity Investments to JPMorgan Retirement Plan Services in early July, so Fidelity will no longer be providing services for the plan after the conversion date. Participants pay for all recordkeeping and investment management fees under both the current Fidelity plan and the new JPMorgan plan, so AEP is not saving any money by changing plan recordkeepers.
