Fidelity had a delay in deducting participant recordkeeping fees in the ORP plan for 2019 3rd and 4th quarters. As a result, Fidelity participants will see two fee deductions on their next quarterly statement. The deduction will read “FEES”. The first deduction has a date on or about May 7, 2020 and the second has a date of May 22, 2020. These fees are a result of pricing structure changes implemented and communicated during the retirement plan transition in summer 2019.
Fees are explained in the ORP Enrollment Brochure located on the USG Retirement website at retirement.usg.edu. Questions can be directed to Fidelity Customer Service – (800) 835-5097.
Fidelity will be sending a communication directly to all affected employees in the next 10 business days. The communication will explain why these fees are being deducted in May and to expect a deduction for Q1 2020 recordkeeping fees in the next several weeks.