Nationwide wins City of Baltimore Retirement Plan
$395 million plan marks another large plan acquisition
Columbus, OH - The City of Baltimore has selected Nationwide as the exclusive provider for its 457(b) and 401(a) retirement savings plans. Nationwide now oversees $395 million in assets for the City’s 11,379 participants. The contract runs for five years.
“After a competitive search process, we selected Nationwide as our plan provider based on its lower administrative costs and commitment to providing quality service, including effective participant education and outreach,” said Roselyn Spencer, executive director of the City of Baltimore Employees’ Retirement Systems.
Nationwide is the nation’s leading1 provider of public-sector retirement plans. The addition of the Baltimore plan expands Nationwide’s significant market share as well as the company’s presence in Maryland, where it serves as the plan provider for more than 500 Maryland employers including 12 of the state’s 23 counties. Together, these plans represent nearly $6 billion in assets and 88,000 participants.
“For more than 40 years, Nationwide has served the retirement planning needs of America’s workers, and we’re excited to welcome the City of Baltimore to Nationwide,” said Eric Stevenson, vice president of retirement plans distribution for Nationwide. “Baltimore chose Nationwide based on our ability to help participants achieve their retirement goals through personalized support and continuous educational workshops.”
Visit nrsforu.com for more information about the tools and services Nationwide provides to participants, including the My Interactive Retirement PlannerSM, a personalized, comprehensive financial planning tool that provides participants with a holistic view of their retirement readiness.
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.