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In each of the previous three quarters, Fidelity reported that six percent of its 11.2 million plan participants cut their 401(k) contributions, but in the three months ending June 30, the tide ...

The company was founded as Fidelity Management & Research ( FMR) by Edward C. Johnson II in 1946. [1] In 1969, the company formed Fidelity International Limited (FIL) to serve non-U.S. markets and subsequently spun it off in 1980 into an independent entity owned by its employees. [8] In 1982, FMR company started offering 401 (k) products. [1]

401 (k) In the United States, a 401 (k) plan is an employer-sponsored, defined-contribution, personal pension (savings) account, as defined in subsection 401 (k) of the U.S. Internal Revenue Code. [1] Periodical employee contributions come directly out of their paychecks, and may be matched by the employer.