Nationwide Retirement Solutions simplifies retirement planning
New features help participants invest with confidence
FOR IMMEDIATE RELEASE
April 10, 2007
Carah Brody (614) 677-0275
Erica Lewis (614) 249-0184
Columbus, Ohio – A recent survey shows that only 34 percent of public-sector workers participate in their employer sponsored defined contribution plan compared to 70 percent of private-sector workers.1 In addition to low participation rates, public-sector participants tend to be more conservative and less active investors.2 To help participants make the most of their retirement planning, Nationwide Retirement Solutions (NRS) has launched Nationwide®ProAccountSM and Nationwide®FundGuardSM.
“Many participants find selecting the appropriate financial products and services complicated, which often prohibits them from investing correctly or saving at all,” said Matt Riebel, president, Nationwide Retirement Solutions. “Our goal is to simplify the retirement savings process by giving participants the tools they need to invest with confidence.”
Nationwide ProAccount Professional money management up to and throughout retirement is now available to participants of NRS administered 457 deferred compensation plans. Nationwide Investment Advisors, LLC has retained Wilshire Associates as the independent financial expert, to select and monitor investments so that participants do not have to. Based on a participant’s personal profile, age and risk tolerance, ProAccount will create an investment strategy that seeks to enhance diversification, increase returns and control risk.
Nationwide FundGuard Nationwide is making FundGuard available exclusively to participants of its NRS administered 457 plans. This new feature protects a participant’s account so no matter what happens to the market, their initial investment is protected; and at the same time, their investments have the opportunity to grow.
For example, a participant who has a principal balance of $30,000 in their 457 plan can choose a five-, seven- or ten-year term of guarantee. Upon completion of the elected term, FundGuard will ensure that 1) if the stock market does well, the participant keeps the gains or 2) if the account value is lower at the end of the term, FundGuard makes up for the loss by applying a credit to the account, returning it to its initial $30,000 balance.
“By offering both of these new features to NRS administered 457 plans, we’re making it even easier for plan sponsors to offer tools and resources to help participants adequately save and invest for their well-deserved retirement years,” said Riebel.
NRS 457 administered plan participants can choose to add either feature to their retirement plan for an additional cost.
For more information about Nationwide FundGuard or Nationwide ProAccount, contact NRS toll free at 877-NRS-FORU (877-677-3678).
About Nationwide Retirement Solutions
Nationwide Retirement Solutions, founded in 1973, is a subsidiary of Nationwide Financial Services, Inc. The company provides recordkeeping, education and administrative services for public employee deferred contribution plans that serve more than 1.5 million government employees with more than $40 billion in assets under management. 3
Professional money management for Nationwide ProAccount is provided by Nationwide Investment Advisors, LLC, an SEC-registered investment adviser.
Guarantees are subject to the claims paying ability of Nationwide Life Insurance Company and/or Nationwide Life and Annuity Insurance Company. The unregistered group variable annuity is issued by Nationwide Life Insurance Company, Columbus, OH. Contract numbers NRC-0105AO, NRC-0105OR, NRZ-0103AO. In Oklahoma, NRC-0105OK.
The Nationwide Framemark is a federally registered service mark of Nationwide Mutual Insurance Company.
1The Nationwide Retirement Education Institute, America’s Retirement Voice. Volume 11, March 2006
2The Nationwide Retirement Education Institute, America’s Retirement Voice. Volume 11, March 2006
3Company records as of August 2006