June 09, 2014
Nationwide Financial Renews Relationship with San Diego County
Nationwide provides deferred compensation retirement plans to help public sector workers prepare for retirement
Columbus, Ohio - Nationwide Financial, the nation’s largest public sector retirement plan provider,1 will remain the sole provider of one of California’s biggest county 457 retirement plans. The County of San Diego elected to retain Nationwide as its deferred compensation plan partner. Nationwide will continue to provide record-keeping, marketing and education services for the plan’s approximately 15,000 participants.
Nationwide has continuously served as the County of San Diego’s record keeper for both its 457(b) and 401(a) plans since April 2009. In that time, Nationwide has utilized a localized approach to participant education, increasing new participants by 20 percent and raising annual participant contributions 9 percent, resulting in more than $1 billion in assets saved for retirement.
“The County of San Diego and Nationwide have developed a strong relationship over the last five years, and we are pleased to continue that partnership,” said Dan McAllister, Treasurer-Tax Collector and plan administrator. “Nationwide is a strong and stable partner, and their services offered the best overall value to the County.”
Nationwide Retirement Solutions, Nationwide Financial’s public sector retirement plans business, has been dedicated to public sector employees for more than 40 years. Nationwide serves nearly 8,000 public sector retirement plans with more than $59 billion in assets.2
“With 75 million baby boomers on the verge of retirement, many of whom are unprepared, the U.S. is facing a looming retirement crisis, and we have made it our mission at Nationwide to help America be ready for and enjoy the retirement they’ve earned,” said Eric Stevenson, senior vice president of Nationwide Retirement Solutions. “We are thrilled to continue our strong partnership with the County of San Diego, and we can proudly say we’re helping more Californians plan for their financial future and a more confident retirement.”
For more information, plan sponsors should visit www.NRSforU.com or contact Nationwide Retirement Solutions at 1-877-677-3678, option 3.
Nationwide Mutual Insurance Company, a Fortune 100 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 a full range of insurance and financial services, including auto insurance, homeowners, pet, motorcycle, boat, farm, commercial insurance, life insurance, annuities, mutual funds, public and private sector retirement plans, banking, mortgages, and specialty health services. For more information, visit www.nationwide.com.