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The $2.7 billion Novartis 401(k) plan has hired Fidelity Institutional Retirement Solutions as its recordkeeper. William Flannery, director of compensation and benefits, said the New York-based plan chose Fidelity over one other finalist, Hewitt Associates, earlier this summer "after a long discussion" with the two firms. "We were reviewing how we spend our money and how we wanted to work with our vendors," he said. "We wanted to make sure we're getting the best bang for our dollar." Novartis selected Fidelity for its ability to be both trustee and recordkeeper as well as its online capabilities, said Flannery, adding that the conversion is expected to take place in February. "We're still maintaining our funds," he said, though he did not know if the plan would make any changes to its lineup down the road. Novartis manages some of its funds, while it also employs outside managers, including the Vanguard Group, said Flannery. Rebecca Hayne, a Hewitt spokeswoman, declined to comment.