Aetna Releases EAP Product

July 13, 2004 (PLANSPONSOR.com) - Aetna has unveiled a new Employee Assistance Program (EAP) offered through its Aetna Behavioral Health (ABH) unit.

The Aetna EAP offers counseling, information and referral services for issues such as stress management, depression, addictions, personal finances, child care, adoption, parenting, elder care, geriatric management services and academic services, according to a news release.

In addition, the company will provide an interactive Web site that will answer commonly asked questions and provide information to members. ABH has added staff and established a client call-center in Hartford, Connecticut to manage the new service. ABH has also signed a two-year contract with LifeCare Inc. to provide work/life services.

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“Everyone is facing additional stress in both their professional and personal lives, pressures that are illustrated by the steady growth of EAPs during the past decade,” said Mary Fox, head of ABH. “This program responds to those increasing pressures.”

Fidelity Boosts IRA Minimums Including Rollovers

December 31, 2002 (PLANSPONSOR.com) - Individual retirement account customers at Fidelity Investments - including those rolling over a balance from a company retirement plan - will now need to meet a higher balance threshold.

The Boston investment giant announced that it was raising its minimum balances for IRAs to invest in a fund from $500 to $2,500 – in line with existing minimums in non-retirement accounts, Reuters reported. The increase applies to traditional IRAs, as well as to Roth and rollover IRAs.

New investors unable to meet the threshold immediately can contribute at least $200 per month until they reach $2,500, Fidelity said.

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Fidelity already charges a $12 annual fee for retail fund accounts with balances below $2,000. It waives the fee in certain circumstances, including for households with assets at Fidelity of at least $30,000, the company said.  

The increase won’t affect small-business or self-employed retirement savings plans, such as SEP-IRAs, Fidelity said.

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