Fidelity Investments, the nation’s No. 1 provider of workplace retirement savings plans, 1 today announced it has been chosen by AT&T Inc. (NYSE: T) as its sole retirement provider. The expanded relationship will include the administration and recordkeeping of AT&T’s defined benefit programs, the second largest private pension plan in the United States. 2 Fidelity, already the provider of the communications company’s 401(k) plans and a portion of its defined benefit programs, will serve all AT&T retirement plan participants. The five-year agreement will result in Fidelity adding over 250,000 new defined benefit participants with a combined total of over 650,000 defined benefit participants as well as the current defined contribution participants that total over 343,000. AT&T’s defined contribution plans are, in the aggregate, also the second largest private defined contribution plan in the country. 3 “AT&T’s leadership has determined that a single provider to meet the retirement needs of our employees and retirees is the best strategy for our company,” said Marty Webb, Vice President - Benefits, AT&T. “Fidelity’s long history and deep experience in administering the most complex retirement plans in the country make it the right provider for our needs.” “We are thrilled and honored to be expanding and continuing our relationship with AT&T,” said James M. MacDonald, president, Workplace Investing, Fidelity Investments. “We look forward to providing every participant a rewarding customer experience that gives them access to all the investment guidance, resources and tools necessary to successfully plan for that next phase in their lives.” AT&T will be migrating to a single retirement provider over the next two to three years. Once final migration has occurred, all participants will then have access to a single view of their retirement information as well as planning tools through Fidelity’s NetBenefits® Web site. About AT&T AT&T Inc. (NYSE:T) is a premier communications holding company. Its subsidiaries and affiliates – AT&T operating companies – are the providers of AT&T services in the United States and around the world. With a powerful array of network resources that includes the nation's fastest mobile broadband network, AT&T is a leading provider of wireless, Wi-Fi, high speed Internet and voice services. A leader in mobile broadband, AT&T also offers the best wireless coverage worldwide, offering the most wireless phones that work in the most countries. It also offers advanced TV services under the AT&T U-verse® and AT&T |DIRECTV brands. The company's suite of IP-based business communications services is one of the most advanced in the world. In domestic markets, AT&T Advertising Solutions and AT&T Interactive are known for their leadership in local search and advertising. In 2010, AT&T again ranked among the 50 Most Admired Companies by FORTUNE® magazine.
Additional information about AT&T Inc. and the products and services provided by AT&T subsidiaries and affiliates is available at http://www.att.com. This AT&T news release and other announcements are available at http://www.att.com/newsroom and as part of an RSS feed at www.att.com/rss. Or follow our news on Twitter at @ATTNews. Find us on Facebook at www.Facebook.com/ATT to discover more about our consumer and wireless services or at www.Facebook.com/ATTSmallBiz to discover more about our small business services.© 2010 AT&T Intellectual Property. All rights reserved. Mobile broadband not available in all areas. AT&T, the AT&T logo and all other marks contained herein are trademarks of AT&T Intellectual Property and/or AT&T affiliated companies. All other marks contained herein are the property of their respective owners. About Fidelity Investments Fidelity Investments is one of the world’s largest providers of financial services, with assets under administration of nearly $3.3 trillion, including managed assets of $1.5 trillion, as of September 30, 2010. Founded in 1946, the firm is a leading provider of investment management, retirement planning, portfolio guidance, brokerage, benefits outsourcing and many other financial products and services to more than 20 million individuals and institutions, as well as through 5,000 financial intermediary firms. For more information about Fidelity Investments, visit www.fidelity.com. AT&T is not affiliated with Fidelity Investments. Keep in mind that investing involves risk. The investment’s value will fluctuate over time and an investor may gain or lose money. Fidelity Brokerage Services LLC, Member NYSE, SIPC 900 Salem Street, Smithfield, RI 02917 © 2010 FMR LLC. All rights reserved. 562652.1.0 1 Based on 2008-2009 data from Cerulli, PlanSponsor.com and Fidelity Market Insights Group 2 Pensions & Investments, Sept. 30, 2009 3 Pensions & Investments, Sept. 30, 2009