A Western government agency has selected a deferred compensation plan administrator.
The Sacramento, Calif., Metropolitan Fire District has awarded a 5-year contract to administer the deferred comp plan to the retirement services arm of Nationwide Financial Services Inc., Columbus, Ohio.
The plan serves 850 participants and holds about $70 million in assets, according to Nationwide.
The average participation rate for the Sacramento fire district's supplemental 457 deferred compensation plans is 80% of the district's eligible employees, compared with a national average of 34%, Nationwide says.
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