Details

Parent Category: Partners

Recognizing participants’ need for access “off hours,” Nationwide extends call-center hours into late evening

‘This is no time to pull back’

Workers are looking for reassurance

Recent surveys reveal that despite experiencing declines in both account balances and confidence, workers are still committed to saving for retirement. By and large, workers are also resisting the urge to tap into their retirement accounts.[1] But only one out of every seven Americans is very confident of having enough money to live comfortably in retirement, half the amount with the same level of confidence two years ago, according to the Retirement Confidence Survey released in April 2009 by the Employee Benefit Research Institute.[2]

Watson says this underlying concern is an opportunity for employers. “Plan sponsors can help employees understand that market turmoil happens from time-to-time, but history suggests conditions are likely to recover and rebound over the long term. Since most retirement plan participants are investing for the long-term, ‘staying the course’ may be their best option.

“Fortunately, Nationwide is enhancing services – such as keeping our call centers open until 11 – to help participants find and use the resources available through their employer’s deferred compensation plan,” Watson said.

Let Nationwide help

If you’re a public employee not participating in deferred compensation, contact your local Nationwide Retirement Specialist about how you may be able to enroll, or call an in-house Retirement Specialist at 877-677-3678.

If you’re a benefits decision maker for a governmental employer, you should know that finding creative solutions for employers has been a hallmark of Nationwide’s service to the public sector, and especially NACo. As provider of the NACo Deferred Compensation Program, Nationwide has more than 30 years of collaborative experience in working with and developing solutions for our country’s leading county employers. For more information on what Nationwide is doing to help participants succeed even during difficult economic conditions, contact Louie Watson, Vice-President of Strategic Relationships, by e-mail (This email address is being protected from spambots. You need JavaScript enabled to view it.) or by phone (614-854-8895).

(This article was written by Bob Beasley, Communications Consultant, Nationwide Retirement Solutions)

© 2009, Nationwide Retirement Solutions, Inc. All Rights Reserved.

Nationwide, the Nationwide framemark, Nationwide Financial, On Your Side and Nationwide Is On Your Side are service marks of Nationwide Mutual Insurance Company.

Nationwide representatives are Registered Representatives of Nationwide Investment Services Corporation, Member FINRA

NRM-6921AO-NX (04/2009)

Details

Parent Category: Partners

NACo Announces Two Featured Speakers for July’s Annual Conference Robert Reich, Economist, Former US Secretary of Labor and Author, will speak at the Opening General Session, Sunday, July 18. In his upcoming book, Aftershock: The Next Economy and America's Future (due out in September 2010), Reich will explain where the economy will be heading after the Great Recession, and what to expect over the next decade. Joe Dittmar, World Trade Center, Tower 2 Survivor, will speak at the General Session, Monday, July 19. Mr. Dittmar presents an intriguing and gripping perspective on what really happened before, during and after the World Trade Center terrorist attacks on 9/11/01. While steeped with facts and observations of historic proportions, his presentation presents concepts and ideas on what was learned that day and what lessons we can continue to teach. For brief bios on both of these speakers, please click here. For more information on the Annual Conference and to register please click here. Register online by June 5 to save $75!

Details

Parent Category: Partners

 · Responding to Social Service Needs - Webinar June 11
Unemployment, housing, healthcare and human service demands are rising on many counties. Local governments are straining to meet the demands on social services while balancing staff cutbacks and frozen budgets. Please join NACo on June 11, for a free webinar, “Securing the Safety Net & Responding to Social Service Needs.” The webinar will cover what resources may be available to counties through strategic partnerships, innovation and funding. Click here to register.
Contact: This email address is being protected from spambots. You need JavaScript enabled to view it. · 202/942-4246

· Register for Annual Conference poster session by June 11
NACo member counties are invited to participate in the 2nd Annual Poster Session at NACo’s Annual Conference in Nashville. The poster session will feature innovative success stories about how counties are transforming health care delivery and coverage options. There is no fee to display a poster. However, you are responsible for getting your poster materials to the conference and at least one person from each participating county must be registered to attend the conference. For more information and to register, click here · 202/942-4267.
Contact: This email address is being protected from spambots. You need JavaScript enabled to view it.

· Don’t Get Burned by Wildfire Webinar planned for June 25
Please join NACo, Thursday, June 25, 2:00 to 3:15 p.m. (EDT) for a free webinar to hear from planners, firefighters, and wildfire professionals as they review tools and resources that will assist you and your county in reducing the risk of wildfire. The webinar will also include a review of NACo new Wildfire Clearinghouse. Click here to register.
Contact: This email address is being protected from spambots. You need JavaScript enabled to view it. · 202/661-8807

Details

Parent Category: Partners

NACo Deferred Compensation Program Provider Strong

Recent headlines and the current economic climate highlight the importance of making sure personal and retirement investments are with a financially strong company.  As part of its oversight of its Deferred Compensation Program, NACo hires an independent consultant to evaluate several different program aspects.  These include the creditworthiness of Nationwide Financial, the parent company to our program administrator, Nationwide Retirement Solutions, and assurance that the fixed annuity investment option offers a competitive return to our program participants. 

In their analysis of the creditworthiness of Nationwide, the consultants concluded that it is a strong, stable insurer that continues to strengthen its foundation.  This analysis provides assurance that participants’ funds are being managed by a financially sound organization. 

The NACo deferred compensation program, also known as a 457 program, is a voluntary program that gives county employees the opportunity to save regularly for their retirement on a pre-tax basis.  One of the investment options available to participants is a fixed annuity that offers county employees the opportunity to earn an investment return at a fixed rate that is established quarterly by Nationwide.  In addition, on an annual basis, Nationwide sets an investment rate minimum (or floor) for the year. 

NACo’s deferred compensation program continues in its number one slot on the return it provides to county employees who are invested in the program’s fixed annuity option.

According to the study, the 2007 return on this investment option placed highest among its competitors.  The report was released at the November 14, 2008 meeting of NACo’s Deferred Compensation Advisory Committee, held in Riverside County, California.  This study has been conducted every year since 1989, and the NACo program has always come out on top.  “Our 28-year partnership with NRS continues to deliver a quality program that helps county employees save for a more comfortable retirement – this is more important than ever in today’s economy,” said Larry Naake, NACo executive director.

The competitive interest rate test concluded that Nationwide met its contractual requirement to equal or exceed the top one-third of its competitors.  This study reviewed the fixed annuity option offered by Nationwide and its nine largest competitors.  

The consultants’ analyses are only one feature of NACo’s deferred compensation program that distinguishes it from others.  As a result of NACo’s Deferred Compensation Advisory Committee, the NACo program is the only one in the country that receives oversight and is advised by county participants. It also benefits from the oversight and endorsement of 41 state associations of counties. 

 (For further information on NACo’s Deferred Compensation program, please contact Lisa Cole at NACo at 202/942-4270 or This email address is being protected from spambots. You need JavaScript enabled to view it. or NRS at 877/677-3678 or www.nrsforu.com.)