By Katie Logisz
June 23, 2003

During the June 8 plenary session, Duane Meek, President of Nationwide Retirement Solutions, the administrator of the highly successful U.S. Conference of Mayors Deferred Compensation Program, addressed mayors regarding the 24 year-old partnership between the Conference of Mayors and Nationwide Retirement Solutions.

Meek stated that at Nationwide, "we are well aware of the budget crisis that cities face; the struggle to meet the demands of homeland security as well as the challenge of providing accordable housing to its citizens. Your employees are concerned about job security, the cost of health care, and the safety of their retirement savings." However, according to Meek, cities are not alone in such worries. Nationwide Retirement Solutions is the leading provider of deferred compensation plans to public employees and as such considers it a "responsibility to provide education to enable you to better weather financial storms and shelter your investment dollars."

Meek noted that increased education of employees better enables them to make appropriate financial decisions. "Education is the cornerstone and the first step towards a more secure retirement." Meek pointed out that fifth grade students learn why savings is important in the first place.

Nationwide conducts seminars and workshops for city employees on how to most efficiently manage investment dollars. Meek said, "The message is that there is something you can do. We are giving city employers more and better information to help them manage their deferred compensation plan." Education for employees "encompasses benchmarking their plan against others, training on their fiduciary responsibility, evaluating their investment policy, and providing updates on legislation."

Meek proudly acknowledged the 24th anniversary of the partnership between the U.S. Conference of Mayors and Nationwide Retirement Solutions and announced a new five-year agreement continuing the partnership. In closing, Meek said, "We are proud of our history together and look forward to continuing this successful relationship."