The Nationwide Fiduciary Warranty outlines the plan sponsor’s fiduciary obligations and defines Nationwide’s role should their investment decisions come into question.
Nationwide said it offers the following services to help plan sponsors, including:
- fiduciary tools: access to a Model Investment Policy Statement with in-depth fund analysis, monitoring tools, and regular plan-level reporting;
- fund selection: programs that offer a range of investment options;
- choice for employees, without increasing fiduciary risk: a mutual fund window with no trading fees, self-directed brokerage and managed accounts from multiple money managers;
- compliance resources: Nationwide’s fiduciary handbook, 404(c) checklist, due diligence file checklist and plan fiduciary meeting checklist.
For an additional fee, Nationwide will also become a full-service trustee, the company said.
“Investment professionals often only get a few hours a year to meet with a plan’s trustees. Nationwide wants to make sure that they are able to make best use of that time. The Nationwide Bill of Rights provides a solid foundation for a due diligence conversation,” said Joe Frustaglio, national sales manager for private-sector retirement plans, in the release.
More information is available at www.nationwide.com/rpsales or by calling 1.800.626.3112.