Fidelity 401(k) Plan

This notice is for Associates hired before August 2019 who participated in MWHC's 401(k) plan. This does not apply to Associates hired after August 2019.

Associates who participated in MWHC's previous 401(k) plan received notice from Fidelity that the plan will be terminated effective April 15, 2024. This plan has been frozen since August 2019 when MWHC switched employer contributions to the current 403(b) plan. Because the 401(k) plan is not needed and has not had contributions added for nearly 5 years, MWHC has made the decision to terminate the plan. Under federal regulations, Associates who have these plans must distribute the funds elsewhere.

A microsite provided by Fidelity (http://www.marywashingtonhealthcare401kplan.fidelitymicrosite.com/) is now available with more educational information on what you can do with your funds and implications for each option.

Associates are not required to take any action at this time. April 15 is the date the plan will terminate and the window for Associates to decide on next steps for their 401(k) accounts will open on May 9, 2024, and close on June 23, 2024. This will provide Associates time to review all potential avenues and determine how they may want to handle their funds.

Fidelity is hosting two 401(k) Termination Informational Zoom meetings for Associates. Your host, Joel Wise with Fidelity, will answer any questions you have regarding plan termination.

Fidelity 401(k) Termination Informational Zoom Meeting, Thursday, April 18, 12:00 p.m.-12:30 p.m.

Fidelity 401(k) Termination Informational Zoom Meeting, Monday, April 22, 1:00 p.m.-1:30 p.m.

To sign up for either meeting, visit this link, https://digital.fidelity.com/prgw/digital/wos/Events?planSponsorId=759177, and select “virtual event” at the top under “select event type”.

Fidelity retirement experts are available to answer any questions at 800.343.0860. Please ensure you read the notices from Fidelity that were sent to the email address attached to your Fidelity account. You can view your Fidelity accounts by logging in here.