The 90-day fee waiver for new business that Nationwide initially offered in August as a response to the coronavirus pandemic is being extended for all new business transitioned by March 31, 2021.
The waiver includes the Nationwide portion of the Nationwide Asset Fee and will be waived for 90 days from the date first assets are received. To be eligible, the plan must include all of the following: The Nationwide Fixed Select Contract, Nationwide ProAccount and either Flex Focus Collective Investment Trust (CIT) or Nationwide Collective Investment Trust as the only target-date option.
To help participants manage the ongoing uncertainty of the markets, Nationwide is also offering retirement plan participants a 90-day trial period of its managed account solution, Nationwide ProAccount, a customized advice service.
“Giving back to the communities that we live in and helping the customers and business partners we work with feels like the right thing to do after a year like 2020, especially as we enter the season of giving,” says Scott Ramey, senior vice president of retirement plans distribution at Nationwide. “It’s a small token of thanks that may help lighten the load and hopefully set them on track for a brighter 2021.”