Nationwide Financial offers FDIC insured account to retirement plan participants
FOR IMMEDIATE RELEASE
May 11, 2011
Contacts:
Erica Lewis (614) 249-0184
lewise6@nationwide.com
Jeff Whetzel (614) 249-6354
whetzej@nationwide.com
Columbus, OH — In today’s economy, retirement plan participants are more concerned than ever about market volatility, and the need to manage risk and protect their retirement assets. To help participants achieve this goal, Nationwide Financial Services, Inc. has added the Nationwide Bank® FDIC Insured Deposit Account option to its diverse menu of retirement plan offerings.
The new product offering is an interest earning account that provides retirement plan participants with principal protection, current income and in-plan liquidity. Funds placed in the account are considered deposits of Nationwide Bank and are insured by the Federal Deposit Insurance Corporation (FDIC) to at least $250,000 per participant.
“The market crisis and ongoing economic uncertainty have changed Americans’ perspectives on retirement savings. As more and more Americans approach retirement, they’re looking for ways to earn a competitive rate of return while protecting their principal. As a result, plan sponsors and plan advisors are looking for new ways to help participants achieve these goals and diversify their investment offerings,” said Anne Arvia, senior vice president of Retirement Plans for Nationwide Financial.
The Nationwide Bank ® FDIC Insured Deposit Account will be offered to
plan sponsors of 401(a), 401(k), 457 and executive deferred compensation
plans.
“At Nationwide Financial, we’re committed to the financial security of our retirement plan clients and to continually enhancing our products and services to meet participants’ evolving needs. We believe the Nationwide Bank® FDIC Insured Deposit Account will provide participants with security and protection through all market environments, while still offering them growth and liquidity within their retirement plan,” added Arvia.
For more information about the new Nationwide Bank® FDIC Insured Deposit Account option for retirement plans, please call 1-800-626-3112.
About Nationwide
Nationwide, based in Columbus, Ohio, is one of the largest and strongest
diversified insurance and financial services organizations in the U.S.
and is rated A+ by A.M. Best. The company provides a full range of
personalized insurance and financial services, including auto insurance,
motorcycle, boat, homeowners, life insurance, farm, commercial insurance, administrative
services, annuities, mortgages, mutual funds, pensions, long-term savings
plans and health and productivity services. For more information, visit
www.nationwide.com.
Life insurance is issued by Nationwide Life Insurance Company or Nationwide Life and Annuity Insurance Company, Columbus, Ohio. Nationwide Bank FDIC Insured Deposit Account is bank deposit account issued by Nationwide Bank. Other insurance products and services provided by affiliates of Nationwide Bank are not insured by the FDIC or any federal government agency, nor are they guaranteed by, deposit of or obligations of Nationwide Bank.
Nationwide, Nationwide Financial, the Nationwide framemark, Nationwide YourLife and On Your Side are service marks of Nationwide Mutual Insurance Company.
Nationwide Bank, Member FDIC, is a federally chartered savings bank.
