Nationwide continues partnership with Center for Retirement Research at Boston College
FOR IMMEDIATE RELEASE
August 18, 2009
Contact:
Chad Green (614) 677-1679
greenc28@nationwide.com
Jeff Whetzel (614) 249-6354
whetzej@nationwide.com
Columbus, Ohio — Nationwide Mutual Insurance Company today announced that it is extending its relationship with the Center for Retirement Research at Boston College (CRR) through May 31, 2010. Nationwide and the CRR have worked together since 2005 to raise awareness about retirement issues through the National Retirement Risk Index (NRRI), a benchmark of household retirement preparedness.
The NRRI, developed at the CRR with exclusive support from Nationwide, has provided important insights about our nation’s retirement readiness and is frequently cited by financial media, thought-leaders and policy-makers. The NRRI has shown that 44 percent of households are at risk of being unable to maintain their current standard of living in retirement, a number that climbs to 64 percent when the cost of both health care and long-term care is factored in.
The next NRRI update is tentatively scheduled for late September 2009.
“During the past four years, we’ve explored a variety of issues, including the cost of health care and long-term care, to try and generate a comprehensive picture of America’s retirement preparedness,” said Alicia H. Munnell, director of the CRR. “We are excited to continue this important work as millions of baby boomers see their own retirement quickly approaching on the horizon.”
In addition to raising awareness, the NRRI also serves as the foundation for Nationwide’s RetirAbility Check®, a free online resource that can help people determine if they are on track with their retirement savings.
“As the country struggles to recover from a year of unprecedented economic turmoil, it’s important for people to have a game plan for retirement,” said Brad Davis, vice president of retirement income solutions for Nationwide Financial Services. “Our partnership with the CRR helps us provide people with a fun and engaging online experience to help them assess their financial situation.”
RetirAbility Check can also be a powerful tool for financial advisors who are looking for innovative ways to engage their clients and initiate the discussion around their level of retirement preparedness.
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.
Brad Davis is a registered representative of Nationwide Investment Services Corporation, member FINRA. In MI only: Nationwide Investment Svcs. Corporation.
Nationwide, Nationwide Financial, the Nationwide Framemark and On Your Side are registered service marks of Nationwide Mutual Insurance Company.
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