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Nationwide reports plan assets rose to $597 million after volatile quarter; participation and outreach highlighted
Summary
Nationwide told the San Joaquin County Deferred Compensation Advisory Committee the county’s 457 plan ended the quarter at about $597 million, highlighted participation metrics, Roth usage, brokerage activity and outreach efforts to retirees.
SAN JOAQUIN COUNTY — Nationwide reported to the San Joaquin County Deferred Compensation Advisory Committee that the county’s 457 deferred compensation plan ended the first quarter with about $597 million in assets, up from roughly $573 million at the beginning of the quarter despite market volatility.
John Segal, a Nationwide representative, told the committee the plan’s reported market fluctuation produced a roughly $9.2 million loss for the quarter but the overall plan balance rebounded in subsequent months. “The quarter started at $573,000,000 ended at $597,000,000,” Segal said.
The report covered participation, account balances and distribution activity. Segal said the 457 plan had about 7,553 participants at quarter-end and an average participant balance around $75,000, down slightly from the prior quarter. Nationwide reported 1,290 participants had elected Roth contributions, with…
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