April 02, 2013
NACo Extends Historic Partnership with Nationwide to Help Public Employees Save for Their Future
Washington, DC - The National Association of Counties (NACo), the only national organization that represents county governments in the U.S., today renewed its long-standing partnership with Nationwide Retirement Solutions (NRS). Since its inception in 1980, the relationship between the two organizations has helped public employees save for retirement. The renewed partnership will continue that mission through 2020 and ensures county employees receive the benefits of NRS’s innovative 457 deferred compensation retirement plan offerings.
“Nationwide continues to show its innovation and commitment to the public sector plan market by addressing both sponsor and participant needs with solutions like their new highly competitive 457 plan offerings and Investment Fiduciary Services by Morningstar,” said Matt Chase, NACo executive director. “John Carter, the new leader of retirement plans at Nationwide Financial, shares a sense of purpose and passion for the work our organizations have done in the past, our focus on the needs of participants today, and our commitment to helping our shared constituents long into the future.”
Through the partnership, NACo's Deferred Compensation Program has grown to become the largest supplemental retirement income program available to county employees, helping more than 340,000 workers prepare for and live in retirement.
“Nationwide shares in NACo’s vision to see that their members have the necessary resources that will help them best prepare for the retirement they deserve,” said John Carter, president of retirement plans for Nationwide Financial. “Our priority, as it has been since the first day of the partnership, is to ensure their member counties are provided with industry-leading educational resources, competitive products and on-site support they need to prepare for retirement.”
“This partnership has worked so well for so long because both parties are passionate about serving the retirement needs of America’s workers,” said Eric Stevenson, senior vice president of public sector retirement plans for Nationwide Financial. “We’re excited and energized as we continue the next chapter in this valued relationship.”
Nationwide Retirement Solutions has provided 457(b) public sector retirement plans since 1974 and currently has more than 7,600 public sector plans under administration with nearly 1.2 million participants.
The National Association of Counties (NACo) is the only national organization that represents county governments in the United States. Founded in 1935, NACo provides essential services to the nation’s 3,069 counties. NACo advances issues with a unified voice before the federal government, improves the public's understanding of county government, assists counties in finding and sharing innovative solutions through education and research, and provides value-added services to save counties and taxpayers money. For more information about NACo, visit www.naco.org.
Nationwide Mutual Insurance Company, 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 both A.M. Best and Standard & Poor’s. The company provides customers a full range of insurance and financial services, including auto insurance, motorcycle, boat, homeowners, pet, life insurance, farm, commercial insurance, annuities, mortgages, mutual funds, pensions, long-term savings plans and specialty health services. For more information, visit www.nationwide.com.