In its announcement, Nationwide said it has already completed the necessary system enhancements to provide administrative and recordkeeping support for the Roth 401(k) and 403(b) options that companies may offer beginning January 1.
The educational tools and marketing materials developed by Nationwide include:
- In depth resources that explain how the Roth option works, what plan sponsors should consider before offering the Roth option and tips to identify which employees could benefit from Roth contributions.
- An online presentation for investment professionals that explains the ins and outs of the Roth option and provides guidance on working with plan sponsors to help assess their needs and implement the Roth 401(k).
- Educational presentation for use to teach plan sponsors more about the Roth 401(k), who may benefit from the option and whether a Roth 401(k) is right for an individual company’s plan.
In addition, Nationwide will launch a new, online interactive calculator in 2006, that can help plan sponsors and participants evaluate if contributing to a Roth 401(k) would be beneficial. The tool also includes a projection of earnings.
For more information, or to view any of these materials, visit www.nationwide.com or contact a Nationwide Internal Retirement Plan Consultant at 1-800-626-3112.