Nationwide Retirement Solutions Awarded the City of Los Angeles Deferred Compensation Plan
August 30, 2004
Columbus, Ohio The Los Angeles Board of Deferred Compensation voted to award a five-year contract for the City of Los Angeles Deferred Compensation plan to Nationwide Retirement Solutions.
Nationwide will assume responsibility for the recordkeeping, enrollment and communication services for the plan's $1.9 billion in assets and 34,000 participants on January 1, 2005. Mercer Investment Consulting assisted the city with its search. Great West Life and Annuity is the incumbent provider.
"Nationwide will enhance the value of the city's plan by offering improved local support and more educational outreach," said Matthew A. Riebel, president of Nationwide Retirement Solutions. "Nationwide looks forward to helping the City of Los Angeles' plan participants prepare for a financially secure retirement."
About Nationwide Financial
Nationwide Financial Services, Inc. (NYSE: NFS), a publicly traded company based in Columbus, Ohio, provides a variety of financial services that help consumers investi and offers retirement plans and services through both public- and private'sector employers.
It's part of the Nationwide group of companies, which offers diversified insurance and financial services. The group is led by Nationwide Mutual Insurance Company, which is ranked No. 118 on the Fortune 500 based on 2003 revenue.ii For more information, visit www.nationwide.com.
About Nationwide Retirement Solutions
Nationwide Retirement Solutions is a subsidiary of Nationwide Financial Services (NYSE:NFS), a publicly traded company. Founded in 1978, the company provides recordkeeping, education and administrative services for public employee defined contribution plans that serve more than 1.5 million government employees with more than $36.5 billion in assets under management.iii
i Nationwide Investment Services Corporation, member NASD. In MI only: Nationwide Investment Svcs. Corporation.
ii Fortune Magazine, April 2004
iii As of June 30, 2004
Investments Retirement Insurance | www.nationwide.com | One Nationwide Plaza Columbus, OH 43215-2220