Market Overview

Nationwide Retirement Solutions Selects Morningstar Associates to Provide Fiduciary Services for Public Sector Retirement Plans


Nationwide Retirement Solutions, the largest provider of retirement plans to the public sector1, announced today it will begin offering a Plan Sponsor Investment Fiduciary Service built exclusively for 457(b) public sector plans. Morningstar Associates, LLC, part of the Morningstar Investment Management division, will help plan sponsors fulfill their investment fiduciary responsibility by creating and monitoring the plan-level investment menu for participating plans.

“Morningstar Associates is one of the most respected and trusted names in the investment fiduciary industry and is known for its independence and objectivity,” said Eric Stevenson, senior vice president of Nationwide Retirement Solutions. “As part of our ongoing commitment to plan sponsors and their participants, we're thrilled to provide these services to 457(b) retirement plans. We also believe that by focusing this offering to smaller plans in the public sector market, these plan sponsors will have access to capabilities and a level of support that is normally only available to much larger plans.”

As part of the service, plan sponsors will benefit from Morningstar Associates' expertise through:

  • Selection, monitoring and due diligence of all investment options
  • Investment menu monitoring reports, including Quarterly Individual Fund Reports, Quarterly Plan Performance Reports and an Annual Summary Report
  • Morningstar Associates' acknowledgement of fiduciary support of the investment menu

“Ensuring these plan participants are preparing for a financially secure retirement has never been more important,” Stevenson said. “Investment Fiduciary Services can assist public sector plan sponsors with their fiduciary responsibilities while at the same time provide their participants with a well-diversified investment menu, a key part of saving for retirement,” said Stevenson.

“We've been providing fiduciary services for more than a decade, and over that time we've developed a rigorous quantitative and qualitative process for fund lineup selection,” said Brock Johnson, president of Retirement Solutions for Morningstar's Investment Management division. “We are pleased Nationwide Retirement Solutions, a market leader in the public sector retirement plan space for nearly 40 years, selected us to provide these services to its plan sponsor clients. This is another example of Nationwide's commitment to continually improving the services it offers to plan sponsors and their participants to help them prepare for a secure retirement.”

Nationwide will make the Investment Fiduciary Service available to existing plan sponsor customers, and the services will also be included with a new 457(b) defined contribution plan offering Nationwide will introduce in the coming months.

For more information about the new Investment Fiduciary Service offered by Nationwide Retirement Solutions, please call 1-877-677-3678, option 3.

About Nationwide

Nationwide Mutual Insurance Company, based in Columbus, Ohio, is one of the largest and strongest diversified insurance and financial services organizations in the U.S. and is rated A+ by both A.M. Best and Standard & Poor's. The company provides customers a full range of insurance and financial services, including auto insurance, motorcycle, boat, homeowners, pet, life insurance, farm, commercial insurance, annuities, mortgages, mutual funds, pensions, long-term savings plans and specialty health services. For more information, visit

The general distributor is Nationwide Investment Services Corporation, member FINRA. In Michigan only: Nationwide Investment Svcs. Corporation.

Life insurance is issued by Nationwide Life Insurance Company or Nationwide Life and Annuity Insurance Company, Columbus, Ohio.

Nationwide, Nationwide Financial, the Nationwide framemark and On Your Side are service marks of Nationwide Mutual Insurance Company.

About Morningstar Associates, LLC

Morningstar Associates, LLC is a registered investment advisor and wholly owned subsidiary of Morningstar, Inc. It is part of the Morningstar Investment Management division, which creates custom investment solutions that combine award-winning research and global resources with proprietary Morningstar data. With approximately $195 billion in assets under advisement and management, the Morningstar Investment Management division provides comprehensive retirement, investment advisory, and portfolio management services for financial institutions, plan sponsors, and advisors around the world.

Data as of Sept. 30, 2012. Includes Morningstar Associates, Ibbotson Associates, Morningstar Investment Services, OBSR Advisory Services, and Ibbotson Australia.

Neither Morningstar Associates nor Morningstar, Inc. is affiliated with Nationwide and its affiliates.

1 PlanSponsor Magazine

Erica Lewis, 614-249-0184
Jeff Whetzel, 614-249-6354

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