Never miss a story — sign up for PLANADVISER newsletters to keep up on the latest retirement plan adviser news.
Products May 11, 2011
Nationwide Offers Retirement Plans FDIC-Insured Product
Nationwide Financial Services, Inc. has added the Nationwide Bank FDIC Insured Deposit Account option to its menu of retirement plan offerings.
Reported by Rebecca Moore
The product offering is an interest earning account that provides retirement plan participants with principal protection, current income, and in-plan liquidity. Funds placed in the account are considered deposits of Nationwide Bank and are insured by the Federal Deposit Insurance Corporation (FDIC) to at least $250,000 per participant.
The Nationwide Bank FDIC Insured Deposit Account will be offered to plan sponsors of 401(a), 401(k), 457 and executive deferred compensation plans.