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Products May 11, 2011
Nationwide Offers FDIC-Insured Product for Retirement Plans
May 11, 2011 (PLANSPONSOR.com) - Nationwide Financial Services, Inc. has added the Nationwide Bank FDIC Insured Deposit Account option to its menu of retirement plan offerings.
Reported by Rebecca Moore
The new product offering is an interest earning account that provides retirement plan participants with principal protection, current income and in-plan liquidity. Funds placed in the account are considered deposits of Nationwide Bank and are insured by the Federal Deposit Insurance Corporation (FDIC) to at least $250,000 per participant.
The Nationwide Bank FDIC Insured Deposit Account will be offered to plan sponsors of 401(a), 401(k), 457 and executive deferred compensation plans.
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