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Nationwide outlines new deferred-compensation options for Lassen County employees
Summary
A Nationwide representative told the Lassen County Board the county plan reached $10 million and administrative fees will fall to about 0.55%, and described SECURE Act catch-up rules, a proposed Roth option and possible loan and self-directed account features for staff to consider.
Nationwide's county plan representative briefed the Lassen County Board of Supervisors on plan changes intended to expand retirement options for county employees. The presenter said the plan has reached $10,000,000 in assets and that the pricing committee has reduced plan administrative costs to about 0.55%, which she said will put more dollars back in participants' pockets. "So that's the great news," the Nationwide representative said, explaining the lower flat cost structure for participants.
The presentation described changes under the SECURE Act and related rules…
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