Under the agreement, NRS will provide the recordkeeping, marketing and education for the plans’ more than 26,000 participants.
According to a press release, Nationwide has served as the exclusive administrator for the state of Arizona since 1976, and the new contract extends this agreement for another five years. The state is one of Nationwide’s largest clients, with approximately $862 million in assets.
“In today’s economy, many workers are looking for help and guidance when it comes to planning for and living in retirement,” said Anne Arvia, senior vice president of Retirement Plans for Nationwide Financial, in the announcement. “As the deferred compensation plan provider for the state of Arizona, we’ll work to ensure that the state’s employees have the service and support they need to help them achieve their retirement goals.”
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