Nationwide to waive fees for eligible retirement plans to help sponsors address COVID-19 impact

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Aug 05, 2020, 13:30 ET

COLUMBUS, Ohio, Aug. 5, 2020 /PRNewswire/ -- As Americans and American businesses continue to struggle with the economic fallout of the COVID-19 pandemic, Nationwide Retirement Plans has taken another step to help plan sponsors and participants prioritize retirement savings. Today, Nationwide Retirement Plans announced a new fee waiver program that provides temporary financial relief to plans that move to Nationwide in 2020.

"We recognize companies, families and individuals are facing financial challenges right now due to the pandemic, and we're here to support plan sponsors and their participants to help ease their burden during these challenging times," said Eric Stevenson, president of Nationwide Retirement Plans. "We want to help businesses balance the costs of offering retirement plans with the vital need for their employees to prepare for a secure retirement – a challenge that has been exacerbated by recent market volatility and uncertainty."

The fee waiver is available on Nationwide's flagship Flexible Advantage retirement plan solution beginning Aug. 1, 2020. If eligibility criteria are met, Nationwide will waive its portion of the plan's asset fee for 90 days from the Trust Effective Date (the date of first deposit to Nationwide). Other fees still apply.

For more information call 1-800-626-3112.

About Nationwide

Nationwide, a Fortune 100 company based in Columbus, Ohio, is one of the largest and strongest diversified insurance and financial services organizations in the United States. Nationwide is rated A+ by both A.M. Best and Standard & Poor's. An industry leader in driving customer-focused innovation, Nationwide provides a full range of insurance and financial services products including auto, business, homeowners, farm and life insurance; public and private sector retirement plans, annuities and mutual funds; excess & surplus, specialty and surety; pet, motorcycle and boat insurance. For more information, visit www.nationwide.com. Follow us on Facebook and Twitter.

This material is not a recommendation to buy, sell, hold or roll over any asset, adopt an investment strategy, retain a specific investment manager or use a particular account type. It does not take into account the specific investment objectives, tax and financial condition, or particular needs of any specific person. Investors should work with their financial professional to discuss their specific situation.

The Nationwide Group Retirement Series includes unregistered group fixed and variable annuities and trust programs. The unregistered group fixed and variable annuities are issued by Nationwide Life Insurance Company. Trust programs and trust services are offered by Nationwide Trust Company, FSB. Nationwide Investment Services Corporation, member FINRA. Nationwide Mutual Insurance Company and Affiliated Companies, Home Office: Columbus, OH 43215-2220.

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Contact:
Jeff Whetzel
(614) 249-6349
[email protected]

SOURCE Nationwide