Boston-based Fidelity Investments has been chosen by Office Depot to provide the company with benefits administration services.

In the five-year agreement, Fidelity will provide eligible Office Depot employees administration and recordkeeping services for their retirement savings plans, health and welfare benefits and stock plan services, according to a statement. Office Depot’s retirement program has about 17,000 participants and $336 million in assets. Fidelity’s health and welfare services for the company will serve about 20,000 employees.

"Office Depot, like many leading companies, has complex benefits needs and a diverse workforce," said Jeffrey Lagarce, executive vice president of sales and relationship management at Fidelity Investments. "By choosing Fidelity as the provider of their retirement, health and welfare, and equity benefits, employees get a streamlined experience that makes it easier to manage their benefits, while providing efficiencies and process improvements for Office Depot."