Are your clients concerned about the performance of their retirement plan accounts? The Nationwide Fixed Select Contract option offers:
- More stability
- Competitive quarterly interest rate
- Flexibility of exchanges
Overview
The Nationwide Fixed Select Contract is a group annuity contract. It offers a competitive quarterly interest rate and features a net interest rate that will not go below 0%.1 It allows participants the ability to exchange into and out of the contract.2
Target market
Nationwide Fixed Select Contract was designed for those looking for stability, who have low risk tolerance and who are seeking the security of a fixed contract with the exchange potential of a mutual fund.
Key features
Historically less risk than equity markets
- Deposits that are guaranteed in both principal and interest, minus any applicable fees and expenses (subject to claims-paying ability of Nationwide Life Insurance Company)
- Assets that are held in Nationwide Life Insurance Company’s general account and are credited on a daily basis
Product details
Supported plan types:
- 401(k)/(a), 457 Governmental, 457(b) for nonprofit organizations, target benefit, profit sharing and money purchase
- 401(a): Nationwide Retirement Flexible Advantage, Nationwide Retirement Clear Advantage, Nationwide Retirement Innovator and The Best of America Retirement Resource
- Group annuity product: The Best of America Retirement Advisor
Interest rates
- Offers competitive quarterly interest rate
- Net interest rate equals the gross rate less the cost of services
- An interest rate will not go below 0%1
Restrictions
The following competing options cannot be offered with this product: stable value collective funds (including Morley Stable Value Fund), other fixed annuity products, money market funds3, certain bond and index funds, the Nationwide bank FDIC Insured Deposit Account.
Restrictions may apply to exchanges if the Plan is utilizing a third-party asset manger. Transfers out of this contract to other funding providers are also subject to certain limitations. Specific information about these restrictions and other fees and charges, are detailed in your contract.
Get started
For more information about this option, call us at 1-800-626-3112 or request a proposal.
Read this important information
Nationwide, Nationwide Fixed Select Contract are service marks of Nationwide Mutual Insurance Company.
