Nationwide Offers Retirement Plan for Smaller Businesses

Nationwide Financial Services has started a new retirement plan offering, Retirement Innovator, designed for smaller business with fewer than $10 million in assets to begin defined contribution plans for employees.   Retirement Innovator is a comprehensive plan that provides plan sponsors with tools and services typically reserved for larger plans, such as resource-filled websites and comprehensive educational materials. Also, plan sponsors have the option to receive personalized and interactive service from a local investment professional.   The program is tailored to individual needs of participants. It also offers access to more than 300 mutual funds from multiple fund companies, asset-allocation funds, managed accounts, self-directed brokerage and several fixed account options.   Eighty-seven percent of companies with five to 500 employees don’t offer a retirement plan, and each year around 45,000 small plans look for a different provider that can better meet their needs.