California Savings Plus renews with Nationwide
The State of California Savings Plus program is staying with Nationwide to provide recordkeeping and education services for the plan’s 457(b) and 401(k) contribution plans and the Temporary Employees Retirement Program (PST). The new contract is for a five-year term plus two one-year renewals.
The plan has more than $21 billion in assets under management and more than 300,000 plan participants.
“The Savings Plus Program is fortunate to have Nationwide on our side and be our partner in helping participants achieve a brighter financial future,” said Lupe Vela, Acting Plan Administrator for the California Savings Plus Program. “I know with the Nationwide/Savings Plus team’s passion for the Program will continue to thrive and grow. I look forward to seeing the innovative enhancements the Program will implement with Nationwide’s collaboration and dedication to Savings Plus.”
“We remain focused helping Savings Plus participants however possible, including conducting more than 1,000 virtual workshops and enrolling over 14,000 new participants in 2021 alone,” said Scott Ramey, senior vice president of Retirement Solutions Distribution at Nationwide. “We’re proud of the trust and partnership we have with Savings Plus and look forward to continuing to serve its plan participants to help them prepare for a financially secure retirement.”
In addition to recordkeeping and administrative services, Nationwide will provide participants with financial planning services and access to the online Interactive Retirement PlannerSM a personalized, comprehensive financial planning tool that provides a holistic view of retirement readiness.
Nationwide Retirement Solutions is a business within Nationwide, a Fortune 100 company based in Columbus, Ohio, that is one of the largest and strongest diversified financial services and insurance organizations in the United States. Nationwide administers nearly 34,000 retirement plans, protecting more than $173.9 billion in participant assets and helping secure financial futures for more than 2.6 million participants in the governmental 457, corporate 401(k) and not-for-profit 403(b) markets. Nationwide is committed to serving the retirement industry by doing the right thing at the right time through better participant experiences, administrative simplicity and values that translate to service.
Nationwide has received DALBAR’S Customer Experience Excellence Award for the past two years, has won DALBAR’S Plan Participant Service Award for seven consecutive years and has been named to Fortune’s “100 Best Companies to Work For” for seven consecutive years.