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Committee adopts amended 2026 administrative allowance budget, discusses fee holiday and participant education
Summary
The Good Defined Contribution Plans Committee adopted an amended administrative allowance budget for 2026 and approved a proposed 2027 budget after staff corrected prior reporting errors and noted an unallocated surplus that prompted discussion of a temporary fee waiver or targeted participant education.
The Good Defined Contribution Plans Committee voted March 18 to adopt an amended administrative allowance budget for calendar year 2026 and to approve a proposed budget for 2027.
Acting Chair presided as staff walked the committee through two budget presentations showing corrected prior-year accounting and a smaller-than-expected consulting fee after the selection of Fiduciary Consulting Group. Nationwide’s and staff’s reconciliations showed interest income and timing shifts in invoices that increased the committee’s unrestricted balance by about $118,000 at year‑end, with a potential $136,000…
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