Nationwide Financial Introduces Retirement Innovator
COLUMBUS, OH, November 17, 2006 -- More than 100,000 businesses have started offering a workplace savings plan during the last five years. However, 87 percent of U.S. companies with five to 500 employees don't offer a plan, and each year approximately 45,000 small plans look for a new provider that can better meet their needs.
That's why Nationwide Financial Services, Inc. (NYSE: NFS), has enhanced its retirement plan offerings with Retirement Innovator(SM), a program designed for defined contribution plans with fewer than $10 million in assets.
"The Retirement Innovator(SM) program is a complete retirement plan solution for small and start-up plans," said Bill Jackson, senior vice president of Retirement Plans for Nationwide Financial. "Our goal is to make it easier for plan sponsors to offer a workplace savings plan by providing them with flexible products, excellent services and support from local experts through our partnerships with investment professionals and third party administrators (TPAs)," Jackson added.
"Simplicity and ease are consistent themes among plan sponsors. We know that they want more personal interaction and services that will help them effectively manage the administrative tasks associated with offering a plan," said Jackson. "We also know that they are concerned about getting superior service and flexibility at a competitive price. In response, we've developed Retirement Innovator(SM)."
The new program offers:
A simple, comprehensive program for plan sponsors - Retirement Innovator(SM) makes it easy for small defined contribution plan sponsors to implement a workplace savings plan by providing them with tools and services traditionally reserved for larger plans, including resource-filled Web sites; comprehensive educational materials; and Fiduciary Series, a fiduciary risk management program designed to help plan sponsors understand and manage their fiduciary responsibilities. Additionally, plan sponsors have the option to receive personalized and interactive service from a local investment professional and TPA.
Flexible options to meet the unique needs of every plan - The Retirement Innovator(SM) program is a trust-based platform that offers a wide range of investment options to ensure that plan sponsors get a plan tailored to the individual needs of their participants. The program offers access to more than 300 mutual funds from multiple fund companies, asset allocation funds, managed accounts, self-directed brokerage and several fixed account options.
Dedicated service and competitive pricing - Nationwide Financial's retirement plans are designed to give investment professionals and plan sponsors the support they need to help participants reach their retirement goals. Now, Retirement Innovator(SM) offers small-defined contribution plan sponsors and investment professionals access to the services they've come to expect from Nationwide at a more competitive price.
"In developing this program, we worked with our investment professionals and TPA partners to create a retirement plan program that would meet the diverse needs of their small-business clients," Jackson noted. "As the retirement landscape continues to change, placing greater responsibility on the individual, we want to enable small-business owners to offer a workplace savings plan, so that both they and their employees are financially prepared for retirement," said Jackson.
For more information about the funds available, including all charges and expenses, please consult a prospectus. Fund prospectuses and additional information relating to your retirement plan can be obtained by contacting your pension representative. Before investing, carefully consider the fund's investment objectives, risks, charges and expenses. The fund prospectus contains this and other important information. Read the prospectus carefully before investing.
About Nationwide Financial
Nationwide Financial Services, Inc. (NYSE: NFS), a publicly traded company based in Columbus, Ohio, provides a variety of financial services that help consumers invest and protect their long-term assets, and offers retirement plans and services through both public- and private-sector employers.
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