Dear [fname],

You may have received an email from Fidelity discussing a change in the 401(k) plan as it relates to a Money Market Fund (MMF). I just wanted you to know that we will making all of the necessary adjustments to your 401(k) plan and there is nothing for you to do.

Just so you know, the basics are that the SEC (Securities and Exchange Commission) is requiring that certain money market funds begin charging fees on certain transactions in the fund. The current MMF is one that would require Fidelity to charge fees in those circumstances. To their credit, Fidelity is choosing to discontinue the use of that type of fund in the 401(k) so that participants will not have to bear the costs of those fees.

We at Newton Wealth Management have been fully briefed directly by Fidelity and we will be making the necessary changes to your 401(k) as needed. This is just one more service that you receive by having us manage your retirement account along with your other investments.

If you do have any questions, please feel free to give SaraBeth a call.


W. Edward Newton, Jr. CPA, CFP
Newton Wealth Management
13850 Ballantyne Corporate Place, Suite 500
Charlotte, NC 28277-2830

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