It's easy to participate in the ASRS 401(a) Supplemental Retirement Savings Plan and 457(b) Supplemental Salary Deferral Plan. You can get started right away. Keep in mind that the 401(a) Plan has eligibility restrictions. Therefore, you cannot enroll online nor access the forms online. If you are interested in enrollment in this Plan, you should contact Nationwide's local office or their toll-free number.
Not ready to sign up yet? Get more info about how deferred comp works and what your options are first.
If you’re not already investing for retirement, it’s time to get started. Your pension and Social Security benefits may not provide enough retirement income for you to live the way you want to in retirement.
You may want to consider participating in ASRS’ 401(a) Supplemental Retirement Savings Plan. If you qualify, the 401(a) Plan offers higher contribution limits than available through the 457(b) Supplemental Salary Deferral Plan. However, the 401(a) Plan has eligibility restrictions and the election, once made, is irrevocable.
With the 457(b) Supplemental Salary Deferral Plan, you decide when, where and how much to invest. And that’s just the beginning — here are some more reasons why it’s smart to participate:
- You can start anytime — The 457(b) Plan will work for you whether you’re approaching retirement or just getting started saving. This is because time and compounding work together to help build momentum for your money. The sooner you start, the more you could have at retirement. Investing involves market risk, including the possible loss principal.
- Something is better than nothing — Even a little bit of savings can really add up over time. And if you continue to bump up contributions on a regular basis, the overall impact to your paycheck may not seem too painful. Consider putting raises or bonuses into deferred comp — it's an easy way to save a little more.
- Use the Future Value Calculator to see how much retirement savings you possibly could have at retirement
- This plan is made for you — Unlike other retirement plans, the 457(b) Plan takes into account that you may retire sooner than workers in the private sector. So you don’t have to worry about paying a penalty for retiring or beginning to take income from the plan before age 59½. Withdrawals are taxed as ordinary income in the year they are received.
- Service you can count on — Non‐commissioned Plan Service Representatives ready and willing to answer your questions. We've been helping public sector employees save for retirement for more than 30 years and our representatives really know their stuff — but it won't cost you any extra. We also have local Plan Service Representatives who will meet with you face‐to‐face. Note: Plan Service Representatives may also be referred to as "Retirement Specialists" elsewhere on this website
Get the help you need
The sooner you enroll, the more you can save. Take a look at the Enrollment Checklist for tips on what you'll need to have handy and enroll today.
Your employer has selected a wide range of investment options to meet your retirement planning needs.
Keep in mind that investing involves market risk, including possible loss of principal. As you get started in the plan, we’ll help you understand market risk and strategies that may help you deal with it.
If you get stuck when choosing which funds are right for you, we’re here to help. We offer different levels of assistance so you can get the help you need.
Do it for me
Nationwide ProAccount® is a managed account service, available for an additional fee, designed to help take the guesswork out of retirement investing. With Nationwide ProAccount, your investments are selected for you based on your age and risk tolerance, then monitored and adjusted over time to keep you on track toward your retirement goals. Nationwide ProAccount gives you:
- Professional management from Wilshire Associates
- Continuous oversight by Nationwide Investment Advisors, LLC
- Frequent communications including quarterly statement notification and 24 hour Nationwide telephone support
Contact us today to learn more about Nationwide.
Investment advice for Nationwide ProAccount is provided to plan participants by Nationwide Investment Advisors, LLC ("NIA"), an SEC-registered investment adviser. NIA has retained Wilshire Associates Incorporated ("Wilshire") as the Independent Financial Expert for Nationwide ProAccount, to make the investment decisions for the program. Wilshire is not an affiliate of Nationwide of Nationwide Investment Advisors, LLC (NIA).
Help me do it
If you want to be involved but want some help along the way, consider our asset allocation funds. They’re targeted towards certain risk profiles, so you’ll determine your risk tolerance and then choose the corresponding fund.
I'll do it by myself
If you want to do it on your own, go for it. You can use the My Investment Planner to determine your investor profile and suggest an asset allocation for you. Then check out the complete list of funds offered by your employer and their current performance to help you decide. Just remember we’re always here if you have questions.
Get the help you need
Talk to a Retirement Specialist about your investment options. Information provided by Retirement Specialists is for educational purposes only and is not intended as investment advice.
It only takes a few minutes to sign up. Here are some things you'll need:
- Your employer's name
- Your Social Security number or employee ID
- Your annual income
- Contribution amount
- Investment selections
- Read about your investment options.
- Beneficiary names and Social Security numbers
Here are some frequently asked questions about ASRS 401(a) Supplemental Retirement Savings Plan and 457(b) Supplemental Salary Deferral Plan, which are both tax-deferred retirement plans. Keep in mind that ASRS’ 401(a) Supplemental Retirement Savings Plan has eligibility restrictions.
- How do I choose between the 401(a) and 457(b)? Learn more about the 401(a) and 457(b) Plans to help you choose which may be right for you.
- What sets a 457(b) plan apart from other retirement plans? 457(b) plans may offer benefits other retirement plans can’t, like penalty-free withdrawals once you stop working for your public sector employer.
- What does tax-deferred mean? Basically, you don’t pay income taxes on 457(b) or 401(a) plan contributions or earnings until you retire and/or begin to take payments from your account.
- Can I afford to save for retirement? You can’t afford not to – and since your contributions aren’t taxed, contributing to your plan could have less of an impact to your take-home pay than you expect. Use the Paycheck Impact Calculator to see how saving will affect your paycheck.
- How much should I put in my account? If you’re unsure, you can use our tools and Learning Center to help decide how much to contribute, what funds to choose and how to use your money when you retire. To see the big picture of how much income is needed in retirement, use the My Interactive Retirement PlannerSM.
- Can I combine retirement accounts? Plan Service Representatives will work with you to combine, or consolidate your eligible retirement accounts into your 457(b) / 401(a) account. This may make managing your retirement investments a little easier. Qualified retirement plans, deferred compensation plans and individual retirement accounts are all different, including fees and when you can access funds. Assets rolled over from your account(s) may be subject to surrender charges, other fees and/or a 10 percent tax penalty if withdrawn before age 59½. Neither Nationwide nor any of its representatives give legal or tax advice. Please contact your legal or tax advisor for such advice.
- How much can I put into the 457(b) Plan? Check out the current contribution limits.
- How much can I put into the 401(a) Plan? Check out the current contribution limits.
Get the help you need
The sooner you enroll, the more you can possibly save. Take a look at the Enrollment Checklist to see what you’ll need to have handy and enroll today! Information provided by Plan Service Representatives is for educational purposes only and not intended as investment, tax, or legal advice. Note: Plan Service Representatives may also be referred to as "Retirement Specialists" elsewhere on this website.
Once you enroll in the ASRS 401(a) Supplemental Retirement Savings Plan and 457(b) Supplemental Salary Deferral Plan, you’ll want to set up online access so you can view account details 24/7. We offer convenient, secure account access with encryption, firewall protection and a full-time security staff.
Here are some things you can do once you have online access to your account:
Manage your account
- Check your total account balance
- Update your personal information
- Get current and past statements
Manage your money
- Verify your contribution dates and amounts
- Change how much you contribute (457(b) plan only)
- Change how your money is invested
- Review available investment options, see fund performance and research funds
- Sign up to have your account automatically rebalanced every quarter (Automatic Asset Rebalancing or AAR)
Get the help you need
If you need help setting up online access, we can walk you through it. Talk to one of our Plan Service Representatives today. Information provided by Plan Service Representatives is for educational purposes only and is not intended as investment advice. Note: Plan Service Representatives may also be referred to as “Retirement Specialists” elsewhere on this website.