In response to the COVID-19 pandemic, Nationwide Retirement Plans has announced a new fee-waiver program to provide temporary financial relief to plans that move to Nationwide in 2020.
“We recognize companies, families and individuals are facing financial challenges right now due to the pandemic, and we’re here to support plan sponsors and their participants to help ease their burden during these challenging times,” said Eric Stevenson, president of Nationwide Retirement Plans. “We want to help businesses balance the costs of offering retirement plans with the vital need for their employees to prepare for a secure retirement – a challenge that has been exacerbated by recent market volatility and uncertainty.”
The fee waiver is available on Nationwide’s Flexible Advantage retirement plan. If eligibility criteria are met, Nationwide will waive its portion of the plan’s asset fee for 90 days from the trust effective date. Other fees will still apply.