A Nationwide news release said Clear Advantage provides plan sponsors with an upfront discussion on pricing, which Nationwide claims allows each plan to track its performance and make more informed decisions.
According to the announcement, features of the product include:
- any payments made by a mutual fund are credited back to the plan participant through reduced costs;
- more than 150 brand-name retail mutual funds;
- plan sponsors are never forced to choose Nationwide funds;
- Personalized investment options to help meet nearly every participant’s needs – from participants who are looking for “do-it-for me” solutions to those interested in going it alone; and
- multiple target-date fund options, fund window, self-directed brokerage account and professionally managed accounts.
“Plan sponsors and participants have the right to know not only what fees they are paying, but to understand what services and plan benefits they are receiving in exchange for those fees,” said Matt Riebel, president of Nationwide Retirement Solutions, in the news release. “Fee disclosure shouldn’t just be about finding the lowest price. Instead, we want to provide the information small businesses need to shop for a retirement plan that will best meet their needs.”