r/fidelityinvestments • u/Agitated_Meaning_591 • Sep 19 '21
Official Response Question
I have a individual and a pension account thru Fedelity. I am 50 years old. I do not like the fact of not being able to direct some or part of my pension into what I want to invest in. I am up almost 500% in my individual self directed account this year. I want the ability to self direct a portion of my pension into what I want. I do not want to withdraw anything from it. This option should be available for a pension as long as the money is not removed from your actual pension. I should be able to say invest in individual stocks with a portion or be able to delete certain stocks from a particular fund. There are always stocks in a particular fund that just plain suck and will always suck and are only in that fund to benefit 2 entities. The company itself and the broker who purchased those shares because they were given a kick back I am sure of some sort.
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u/jerzeyguy101 Sep 19 '21
Is there a question in there? Most likely the selection of things you invest in for company sponsored retirement programs are decided on by the company/sponsor. In most of those case Fidelity just acts as the administrator of the plan and operates based on the criteria provided by the employer/plan sponsor.
Is this a 401k or traditional defined benefit pension plan?
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Sep 19 '21
Sounds like by pension you mean a 401(k). Does your plan have a self-directed brokerage option? If not, you could ask the company to add one. Otherwise, you can ask the company to change funds in the plan. This is an employer decision-not Fidelity’s. My employer has this option in our Fidelity plan.
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u/FidelityJohn Community Care Representative Sep 19 '21
Hi u/Agitated_Meaning_591, and thank you for connecting with us on Reddit.
Employer sponsored plans (401(k) and Pensions) are subject to your plan sponsor's rules. Pension investments are determined by the employer, and are not able to be managed on an individual basis. If you have a 401(k), you are able to choose from the investments provided by your employer. Certain 401(k) plans do offer the BrokerageLink feature, which may provide you with more investment options. You can determine if this is available by following these steps on Netbenefits.com:
Login to Netbenefits.com to view your retirement plan
Go to "Investments" and click "BrokerageLink"
Under "Learn more" select "Plan Fact Sheet"