UAL Flight Attendant 401k Switch to Fidelity

May 31, 2016

 

Click here for full transcription.

 

 

If you're a United Airlines flight attendant, you've probably heard that your 401k is transitioning from Aon Hewitt to Fidelity, and if you've heard about that, you're probably wondering what to do, when to do it, and what it all means for you.

 

Hi, I'm Katie Rodriguez with Efficient Wealth Management, and I'm here to help you answer those questions and probably a few more. First, let's talk about dates that are important to you. As of May 16th and through June 14th, you can go to www.401kunited.com, set up a login, and choose how your current account balances and future contributions will be allocated. If you currently are not having your 401k managed, then you're done and you just need to be aware of the blackout dates that I'll discuss in a moment.

 

If you have a self-directed 401k account, you should be on the lookout for or may have already received a participant acknowledgement form that you will need to sign and return to Fidelity so that you will be able to transact in the account once it arrives at Fidelity. Fidelity calls these accounts "self-directed brokerage accounts" or "brokerage link accounts." Your account will still transfer to Fidelity as is without any action on your part, but in order to activate the account at Fidelity, you will need to sign this participant acknowledgement form and return it in the envelope provided.

 

If you are one of our clients, we will be reaching out to you to provide one additional form that will allow us to continue to manage and access the account at Fidelity. We can also help walk you through any of the steps that I've mentioned before.

 

As for the blackout period, this is the time during which the plan is actually transitioning from Aon Hewitt to Fidelity. On June 23rd, that will be the last day that you're able to make transactions that require paperwork at Aon Hewitt. On June 28th, this will be the last day to make any transactions that involve a self-directed brokerage account, and lastly on June 29th, that will be the last day for any transactions that can be done via telephone or the internet. On June 30th the accounts will be valued at Aon Hewitt and the Aon Hewitt phone number and website will no longer be available for questions that involve the 401k. All of these questions will now go through www.401kUnited.com and by calling the phone number 800-245-9034. On July 1st, all accounts are scheduled to move from Aon Hewitt to Fidelity, and finally on July 3rd, investment elections for future contributions are scheduled to begin.

 

As I mentioned earlier, if you're already an Efficient Wealth Management client, we will help walk you through everything you need to know and make sure you have all the appropriate information and access at all the appropriate times. If you have any questions or would like any further information, please give us a call at 281-528-1200 or send us an email by visiting www.EfficientWealthManagement.com.

 

 

 

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