Nationwide Retirement Plans introduces online resources to help plan for retirement
New interactive retirement planner empowers plan advisors and participants to establish goals, track progress based on specific scenarios
FOR IMMEDIATE RELEASE
November 8, 2010
Erica Lewis (614) 249-0184
Nancy Smeltzer (614) 249-4491
Columbus, OH — Are your clients or plan participants on track to reach their retirement income goals? Have they even taken steps to calculate such a goal?
Plan advisors and sponsors can help retirement plan participants wondering how they’re doing – or how to get started – on the road to retirement readiness by taking an in-depth look at their retirement situation with the new Nationwide On Your Side Interactive Retirement PlannerSM. The Planner can help set goals, track progress, and find suggestions to improve an individual’s unique retirement outlook — all in about 10 minutes.
“We are excited about this new online resource and its ability to allow users to see what adjustments they can make to reach a retirement goal,” said Anne Arvia, senior vice president of Retirement Plans for Nationwide Financial. “Our customers told us they wanted a retirement tool that was simple but meaningful that would help them make informed decisions, which guided the development of the Interactive Retirement Planner.”
Users can tweak the hypothetical scenarios, such as years until they reach retirement, contribution levels, years in retirement and annual income in retirement, to see how changes in these categories can impact each other and their retirement planning process.
Nationwide understands people can be overwhelmed by the retirement planning process, that many tools that provide a “big” number for their retirement income goal aren’t always helpful, and they don’t want to be forced into an immediate decision. Plan sponsors and participants indicated they want online resources that help them set a retirement income goal, provide them with guidance on how to reach that goal, and allow them to compare their results with peers and the market.
Arvia said that the new online planner is a way for anyone to gauge where they are in regard to their retirement plans. The resource allows plan participants to feel confident in preparing for retirement by helping them establish their retirement goals, and then shows them visually how they can stay on track to reach those goals.
In addition to the new retirement planner, Nationwide Retirement Plans has enhanced its online home, creating a one-stop shop for plan participants to explore investment options, access educational information and easily link to the new Interactive Retirement Planner.
Nationwide also introduced a new Rollover Center to provide plan
participants an educational resource to help them with their choices when
they retire or change jobs. Participants can access helpful information
about IRAs, rollover options, comparison tools that demonstrate the
difference between traditional and Roth IRA plans and talk with a
financial professional for guidance.
“People are becoming more actively engaged in retirement planning, but they’re not always confident they’re making the right decisions,” Arvia said. “Given the growing importance of personal savings on retirement readiness we’re providing these resources so people can make more informed decisions based on their individual situation.”
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.
The On Your Side Retirement Interactive Planner is a hypothetical tool and is not intended to predict or project investment results of any specific investment. Investment return is not guaranteed and will vary depending upon your investments and market experience. Assumptions do not include fees and expenses. If fees were reflected, the return would be less.
Nationwide, Nationwide Financial, the Nationwide framemark, Nationwide YourLife and On Your Side are service marks of Nationwide Mutual Insurance Company.