Fidelity Administers 401(k) and Pension Retirement Plan for Tenneco

Fidelity Investments said that Tenneco has chosen it to provide administrative services to Tenneco's defined contribution 401(k) and defined benefit pension plans.

According to a company release, the plans have 7,700 401(k) participants1 and 11,000 pension participants and a combined asset value of nearly $1 billion2.

"We're pleased to be working with Fidelity given its outstanding client service, attention to detail and innovative technologies in the administration of workplace retirement plans, both pensions and 401(k)s," said Rex Abercrombie, vice president of Total Rewards, Tenneco.

"Companies design their benefits programs to meet the unique needs of their employees," said Steve Patterson, executive vice president of Sales, Fidelity Investments. "Our smartphone and tablet apps offer continuous access to Tenneco's geographically dispersed population, a perfect fit for the company and a great example of our innovative use of technology."

Fidelity currently manages defined contribution plans for 23,300 companies, including corporate 401(k) plans as well as tax-exempt and advisor-sold plans3. The firm also administers 820 defined benefit pension plans for 170 companies and 4.4 million participants.

The Company said that the Tenneco benefits team will have a single point of contact for both retirement plans to help it address administration, risk management and plan design needs. In addition, Fidelity's Benefits Consulting will provide actuarial services for the U.S. defined benefit pension and retiree medical plans. The Benefits Consulting team also will help Tenneco manage fiduciary risk, communicate effectively with participants and leverage analytics to create benefit projections.

At Fidelity, our goal is to make financial expertise broadly accessible and effective in helping people live the lives they want. We do this by focusing on a diverse set of customers: from 23 million people investing their own life savings, to 20,000 businesses needing help managing their employee benefit programs to 10,000 advisors and brokers needing technology solutions to invest their own clients' money. Privately held and with 40,000 employees around the world, Fidelity is a leading provider of investment management, retirement planning, portfolio guidance, brokerage, benefits outsourcing and many other financial products.

Fidelity is a provider of both workplace savings plans and Individual Retirement Accounts (IRAs).

More Information:

www.fidelity.com

http://www.fidelity.com/inside-fidelity/news-center/news-media

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