Nationwide wins deferred compensation plan for City of Newton, Massachusetts
The City of Newton, Massachusetts has awarded recordkeeping for its 457(b) deferred compensation plan to Nationwide Retirement Solutions. Newton’s retirement savings plan transitioned to Nationwide with $130 million in assets under management, serving 2,500 plan participants.
In addition to recordkeeping and administrative services, Nationwide will provide participants with holistic financial planning services and access to the company’s online My Income & Retirement Planner℠, a personalized, guided experience that can help users clearly understand their savings and how it translates into retirement income.
“Nationwide is honored that the City of Newton selected us to handle their recordkeeping and support their plan participants with the tools and resources necessary to achieve their retirement goals,” said Kevin Jestice, president of Nationwide Retirement Solutions. “The Nationwide team is already working hard to help the City’s employees prepare for and live in a dignified retirement.”
“Our team appreciates the extraordinary care Nationwide provides to participants,” said Ron Mendes, City Treasurer/Collector, City of Newton. “We trust that Nationwide’s vast expertise and integrated approach to retirement planning will serve all of our employees well, regardless of where they may be in their retirement journey.”
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 helps secure financial futures for approximately three million participants in 30,000 retirement plans with $250 billion in assets, across full-service recordkeeping, investment solutions, and pension risk transfer1. Nationwide remains No. 1 in public 457 plans (based on the number of plans)2 with an average tenure of 29 years1. The company also continues to maintain significant presence in private 401(k), nonprofit 403(b) markets, and pension risk transfer.
For 50 years, Nationwide has remained committed to continually improving its retirement solutions and service experience to better support individuals preparing for and living in retirement. The company offers a diversified portfolio of solutions that complement its traditional recordkeeping and education services. Nationwide’s goal is to help participants prepare for retirement by providing investment solutions and services designed to support long-term growth, risk management and income planning. These offerings include mutual funds, managed accounts, pension risk transfer capabilities, fixed and stable value solutions, and lifetime income options.
Visit nrsforu.com for more information about the tools and services Nationwide provides to retirement plan participants.
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1 Nationwide Financial (Dec 31, 2025)
2 PLANSPONSOR 2025 Recordkeeping Survey