In a news release, Nationwide said Retirement Innovator simplifies plan implementation for small plan sponsors by providing them with tools and services traditionally reserved for larger plans. Those tools and services include Web sites; educational materials; and Fiduciary Series, a fiduciary risk management program designed to help plan sponsors understand and manage their fiduciary responsibilities.
Plan sponsors will also have the option to receive personalized and interactive service from a local investment professional and TPA, the announcement said. The program offers more than 300 mutual funds from multiple fund companies, asset allocation funds, managed accounts, self-directed brokerage accounts and several fixed account options.“The Retirement Innovator program is a complete retirement plan solution for small and start-up plans,” said Bill Jackson, senior vice president of Retirement Plans for Nationwide Financial, in the news release. “Our goal is to make it easier for plan sponsors to offer a workplace savings plan by providing them with flexible products, excellent services and support from local experts through our partnerships with investment professionals and third party administrators.”