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Press Release

Nationwide to Waive Fees for Eligible Retirement Plans to Help Sponsors Address COVID-19 Impact

Issued by Nationwide

Aug. 7, 2020

COLUMBUS, Ohio, Aug. 5, 2020 /PRNewswire/ -- As Americans and American businesses continue to struggle with the economic fallout of the COVID-19 pandemic, Nationwide Retirement Plans has taken another step to help plan sponsors and participants prioritize retirement savings. Today, Nationwide Retirement Plans announced a new fee waiver program that provides 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 flagship Flexible Advantage retirement plan solution beginning Aug. 1, 2020. If eligibility criteria are met, Nationwide will waive its portion of the plan's asset fee for 90 days from the Trust Effective Date (the date of first deposit to Nationwide). Other fees still apply.

For more information call 1-800-626-3112.

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