Just got the postcard today from FedEx about signing in to netbenefits.com to set up my Fidelity PRSP. I already had other Fidelity accounts, so there was nothing to set up for me. However, when I asked how to arrange for the firm that managed the PRSP under Vanguard to do the same now that it's under Fidelity, I was told that ONLY Fidelity can provide management services, and that it was set up this way by FedEx. Even though the same third party management firm is managing my other Fidelity accounts, they cannot manage the PRSP. I have had two different people at Fidelity tell me the same thing.
I did not read anything about this in the materials I received from FedEx on the switch, or if it was in there, I missed it. I do not want to leave a firm that has gained my trust over the past 10 years and switch to Fidelity. Call me a cynic, but I smell a rat.