The new product offering is an interest earning account that provides retirement plan participants with principal protection, current income and in-plan liquidity. Funds placed in the account are considered deposits of Nationwide Bank and are insured by the Federal Deposit Insurance Corporation (FDIC) to at least $250,000 per participant.
The Nationwide Bank FDIC Insured Deposit Account will be offered to plan sponsors of 401(a), 401(k), 457 and executive deferred compensation plans.
For more information, call 800-626-3112.