According to an announcement, The Contractors Plan, originally designed for non-union contractors performing government work, provides retirement and medical benefits on prevailing wage jobs across the U.S. The Contractors Plan also includes the Transamerica retirement platform, which is offered through a group annuity contract.
Contractors may select either the Nationwide or Transamerica platform and participants can then choose from among the funds on the platform selected by their employer.
The Nationwide Retirement Clear Advantage option is a mutual-fund based product which enables participants to choose their own mix of investment funds from Nationwide’s fund offerings, the announcement said. Participants who prefer not to choose their own mix of investment funds can select the appropriate target-date fund which corresponds with their anticipated retirement date.
Information about The Contractors Plan is available at www.thecontractorsplan.com .
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