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Nationwide Issues a Retirement Wake-Up Call During National Save for Retirement Week Oct. 21-27

Posted on: Wednesday, 17 October 2007, 09:00 CDT

A recent survey by Nationwide found that 50 percent of people worry about not having enough money when they retire.1 More and more people are looking to their employer for help in making important savings decisions. Nationwide recognizes the many demands placed on employers and is reaching out to plan sponsors during National Save for Retirement Week Oct. 21-27 with resources to help educate and engage employees in the retirement savings process.

"We realize that employers are trying to balance the work involved with providing employees with the best retirement plan possible while managing the many other daily demands on their time," said Matt Riebel, president of Nationwide Retirement Solutions. "Nationwide is committed to helping plan sponsors by providing resources that make it easier for them to educate their employees about saving for retirement."

National Save for Retirement Week is an initiative led by the National Association of Government Defined Contribution Administrators (NAGDCA) to raise awareness about the importance of saving for retirement and to encourage America's workers to be proactive when it comes to their retirement savings.

In addition to a plan sponsor's existing retirement education efforts, Nationwide offers several interactive, online resources to help drive the National Save for Retirement Week message to their employees.

Help them find out where they stand. According to the National Retirement Risk Index, 44 percent of Americans are in danger of being unable to maintain their pre-retirement standard of living during retirement.2 Nationwide's RetirAbility CheckSM, available at www.nationwide.com/rscore, is a free and interactive online resource that provides a personal retirement readiness score as well as tips on how to become better prepared for retirement.

Encourage them to devise a plan. Retirement often affects more than one person. However, 22 percent of people say they avoid having retirement planning conversations with their families because it will likely end in conflict.3 HaveTheTalkAmerica.com is an interactive Web site that offers tips and tools that can help participants break down communication barriers that may exist and have a constructive conversation about their family's financial future.

Show them how to take action. Nationwide.com is a complete resource offering information from the basics of investing and diversification to a paycheck impact calculator and tips for maximizing contributions.

"This week is about giving employees a much needed wake-up call about the importance of saving for retirement and getting them to take action today," said Riebel. "Our hope is that plan sponsors will take advantage of the many resources we have available to both them and their participants."

More About the Week

National Save for Retirement Week is the first congressionally endorsed, national event formally calling on employers to promote the benefits of saving for retirement, and encourage their employees to take full advantage of employer-sponsored plans. The effort has gained broad acceptance and exposure since it was introduced and passed as a U.S. Senate resolution in 2006 and again in 2007. For more information about the week, visit www.nagdca.org.

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 invest4 and protect their long-term assets, 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. 104 on the Fortune 500 based on 2006 revenue5. To obtain investor materials, including the Company's 2006 Annual Report to Shareholders, 2006 Annual Report on Form 10-K, quarterly statistical supplements and other corporate announcements, please visit the investor relations section of the Company's Web site at www.nationwide.com.

Nationwide, Nationwide Financial, the Nationwide Framemark and On Your Side are federally registered service marks of Nationwide Mutual Insurance Company. Have The Talk is a federally registered service mark of Nationwide Mutual Insurance Company.

1 Nationwide's "Tough Talks" Survey, 2007

2 Center for Retirement Research at Boston College, National Retirement Risk Index, 2007

3 Nationwide's "Tough Talks" Survey, 2007

4 Trust programs and trust services are offered by Nationwide Trust Company, FSB a division of Nationwide Bank SM. Nationwide Investment Services Corporation, member FINRA. In Michigan Only: Nationwide Investment Svcs. Corporation. Nationwide Mutual Insurance Company and Affiliated Companies, Home Office: Columbus, OH 43215-2220

5 Fortune Magazine, April 2007

Source: Business Wire

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