NATIONWIDE SAVINGS PLAN Contribution & Employer Match
How NATIONWIDE MUTUAL INSURANCE COMPANY Supports Your Retirement Savings
NATIONWIDE MUTUAL INSURANCE COMPANY provides retirement savings benefits through NATIONWIDE SAVINGS PLAN. Understanding your employer’s contribution structure is essential — it directly affects how quickly your retirement nest egg grows. Below you will find the plan’s average account values and contribution patterns based on publicly filed data.
NATIONWIDE SAVINGS PLAN Average Participant Retirement Account Value
NATIONWIDE SAVINGS PLAN Estimated Average Employee Contribution Amount
402,873.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 6,294.00 in NATIONWIDE SAVINGS PLAN, assuming a 10%* annual return.
* Data are from public filings.
Employer Match in NATIONWIDE SAVINGS PLAN
An employer match is one of the most valuable benefits in any 401(k) plan — it is essentially free money added to your retirement savings. Your employer contributes additional funds based on a percentage of your own contributions. Missing out on the full match is one of the most common and costly retirement mistakes employees make.
NATIONWIDE SAVINGS PLAN Total Employer Contribution and Match Rate
NATIONWIDE SAVINGS PLAN Estimated Average Employer Match
Investing in this additonal $2,070.00 for 20 years would give you extra $132,501.00, assuming a 10% annual return.
* Data are from public filings.
Are You Leaving Dollars on the Table?
If you are not contributing enough to capture the maximum employer match, you are literally turning down part of your compensation. For many plans, this can mean thousands of dollars per year in lost employer contributions — money that would compound over decades.
Use the policy details and calculator below to find out exactly how much you need to contribute to capture every dollar of employer matching.
NATIONWIDE SAVINGS PLAN Contribution & Match Policy
NATIONWIDE SAVINGS PLAN Contribution, Match and Other Plan Policies
- A participant may authorize payroll deductions from 1% to 80% of base salary (subject to certain defined limitations) as contributions to be invested as directed by the participant.
- Participants may also roll over amounts into the Plan representing distributions from an eligible retirement plan.
- Participants direct their contributions into various investment options offered by the Plan.
- Participants may elect to change their investment directions with respect to current contributions and may elect to change their investment directions with respect to their existing account balances on any business day.
- Participants over 50 years of age are eligible to contribute an additional $7,500 for 2024 and 2023, called "catch-up" contributions.
- For the years ended December 31, 2024 and 2023, the Plan Sponsor matched 50% of the first 8% of participant contributions.
- After-tax contributions are not eligible for Plan Sponsor matching contributions.
- Vesting is based upon years of continuous service.
- A participant is vested immediately in their own contributions and any related investment earnings.
- A participant vests in the Plan Sponsor’s matching contributions and related investment earnings ratably over five years of vesting service.
- A participant is 100% vested after 60 months of vesting service.
2025 IRS 401(k) Contribution Limits
The IRS sets annual limits on how much you and your employer can contribute to a 401(k) plan. Knowing these limits helps you maximize tax-advantaged savings. Here are the current limits:
| 2024 | 2025 | |
|---|---|---|
| Employee elective deferrals (pretax + Roth) | $23,000 | $23,500 |
| Employee + employer contributions combined | $69,000 | $70,000 |
| Catch-up contributions (age 50+) | $7,500 | $7,500 |
| Enhanced catch-up (ages 60–63, SECURE 2.0) | N/A | $11,250 |
The power of maxing out: If you contribute the full $23,500 annually for 20 years at a 10% average annual return, you would accumulate approximately $1,505,256. If you can maximize the combined employee+employer limit of $70,000 per year, that grows to roughly $4,480,385 over the same period — more than triple.
Use the 401(k) Savings Calculator to model your specific contribution scenario and see how your savings can grow over time.
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