Products November 9, 2011
Nationwide Retirement Solutions Renews Two Plans
November 9, 2011 (PLANSPONSOR.com) - Nationwide Retirement Solutions announced the states of New Mexico and Florida have renewed their deferred compensation program contracts until 2019 and 2016, respectively.
Reported by Tara Cantore
Nationwide will provide recordkeeping, marketing, and education services for the plans’ combined 44,127 participants and $1.3 billion in assets.
Since 2003, Nationwide has served as the exclusive administrator for New Mexico’s deferred compensation program, and has helped the plan increase participation and deferral rates. Today, the plan has approximately 17,000 participants and more than $367 million in assets.
Nationwide has served the Florida plan for the past 29 years. During this time, Nationwide has expanded its relationship with the plan by adding new savings and investment options such as fixed accounts and FDIC-insured savings options from Nationwide Bank. Nationwide is the largest provider to the Florida plan, with more than 27,000 participants and $1.0 billion in assets.
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