The Contractors Plan, originally designed for non-union contractors performing government work, provides retirement and medical benefits on prevailing wage jobs across the U.S., according to a press release. The Contractors Plan also includes the Transamerica retirement platform, which is offered through a group annuity contract.
Contractors may select either the Nationwide or Transamerica platform and participants can then choose from among the funds on the platform selected by their employer.
The Nationwide Retirement Clear Advantage option is a mutual-fund-based product that enables participants to choose their own mix of investment funds from Nationwide’s fund offerings, the announcement said. Participants who prefer not to choose their own mix of investment funds can select the appropriate target-date fund that corresponds with their anticipated retirement date.
More information is available at www.thecontractorsplan.com.