scored key wins in 2004, not just in its 401(k) business but in its combined DB-DC business. At the end of 2004, Fidelity administered $647.6 billion in 401(k), 4013(b) and 457 plans, for 12,900 sponsors and 11.4 million participants. Assets under administration were up 13.8 percent from $569.1 billion at the end of 2003.
The provider won or expanded its defined contribution business with Cardinal Health
and the University of California
Fidelity also landed contracts with eight "blue chip corporations" for its defined benefit and defined contribution plan business. The companies have a total of 800,000 employees.
Total defined contribution and defined benefit plan assets for Fidelity totaled $729.9 billion, compared to $635.3 billion at the end of 2003.
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