Partnership with USCM Stronger Than Ever

"Our partnership with the U.S. Conference of Mayors spans some 20 years and it stronger today than ever before," said Duane Meek, President of Nationwide Retirement Solutions, in remarks to the mayors at the 67th Annual Meeting of the Conference in New Orleans. Nationwide Retirement Solutions Administers the Conference’s Deferred Compensation Program that has been adopted by over 4,500 cities and other local government jurisdictions across the nation.

New Name Reflects Expanded Role

Making a reference in the company’s change of name from PEBSCO to Nationwide Retirement Solutions, the new Meek stated "The new name reflects our broadening role in serving public employees. We provide solutions for their retirement needs... ."

Serving Our Nation’s Everyday Heroes

Meek continued "at a time when savings rates in America are low, and life expectancy continues to rise, the need for planning for retirement is greater than ever. We are committed to today’s "everyday - heroes," your employees in cities all over the country. Helping them ensure a secure retirement in the goal of our company."

More Choices, Lower Costs

"We have changed more that just our name over the last year" Meek reported. He went on "as the nation’s largest provider of deferred compensation plans to city employees, we’re improved all of the plans we offer. Last November we instituted changes that provided more investment options offering more choices to all participants."

Of equal importance, said Meek; "we offered a new pricing structure that gave each individual the opportunity to lower the cost of saving in their program. More choices at lower costs are something that everyone can get excited about. It’s part of our ongoing commitment to the Conference of Mayors to make it program the best offering possible."

New Match Program Stimulates Savings

More recently, Meek reported "we initiated a new deferred compensation matching program. This allows employers (cities) to make a matching contribution to an account for an employee who participates in deferred compensation. It would look like a 401(k) plan offered in the private sector."

He went on to say this "is a powerful new savings tool and those cities that have adopted such a program report that it has tremendous impact on the rate of savings. Specifically:

1. Participation rates in the deferred compensation plan increase significantly. As little as $25 per month from the employer encourages many more to save;
2. It allows public employers to compete more effectively with the private sector for talented employees; and
3. Employers report it provides a great deal of employee goodwill."