Cathy Marasco to lead new Protected Retirement team
The SECURE Act of 2019 opened a new era of opportunities for retirement savers. That’s why Nationwide Retirement Solutions announced in 2020 that it would launch our first-of-its kind suite of in-plan guarantee solutions to help retirement plan participants protect their savings and guarantee income in retirement.
As the company continues to see significant adoption of these solutions, Nationwide is increasing its focus to protect more participant retirement incomes. To spearhead this effort, Cathy Marasco, current associate vice president of Retirement Solutions product development, was selected to lead Nationwide’s new Protected Retirement team. In this role, Marasco will integrate and build a coordinated team responsible for advancing awareness and adoption of in-plan guarantee solutions.
“Cathy is well positioned to be successful in this new role. She has vast subject matter expertise and has been instrumental in furthering our in-plan guarantee strategy,” said Eric Stevenson, president of Nationwide Retirement Solutions. “We’re confident the team will reach even greater heights and deliver even stronger results with these dedicated resources and the ability to focus fully on driving Protected Retirement solutions.”
New Nationwide survey data shows that plan sponsors have high levels of favorability, interest and comfort with these solutions and employees are ready to act if employers provide them. Nearly nine in 10 employees ages 45+ (87%) say they would be at least somewhat likely to rollover their retirement savings into a guaranteed lifetime income investment option if they had the ability.
“I’m excited to see rapidly growing interest in protected income solutions from both retirement savers and plan sponsors,” Marasco said. “That’s why it’s a great time to accelerate our efforts to enhance our solutions and make them available to even more Americans who want to ensure they don’t outlive their income and protect their hard-earned retirement savings from market volatility.”
Nationwide’s Retirement Solutions business has been awarded two top service awards from DALBAR, including the Customer Experience Excellence Award and Plan Participant Service Award, for its exceptional service and phone support.
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 Retirement Solutions administers nearly 32,000 retirement plans, helping protect more than $166 billion in participant assets, and helping secure financial futures for over 2.7 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.
This material is not a recommendation to buy or sell a financial product or to adopt an investment strategy. Investors should discuss their specific situation with their financial professional.
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Provisions of these options may vary based on plan selection and/or by state regulation. These investment options may not be available in all states.
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