If you’re on the fence about opening a supplemental savings account, keep in mind that when you establish a savings plan, it is okay to start small. With Nationwide Retirement Solutions, a partner of the ASRS, the minimum starting amount is $10 per pay period.
Over time, you can adjust your contributions as needed – the important part is getting started. The earlier you begin, the more time you allow compounded interest to increase your money. Building the habit of saving money early on can provide additional comfort for retirement.
Visit our Supplemental Savings Plans page for more information on the savings plans available to you through Nationwide. Note that there are separate savings plans depending upon who your employer is, but all Nationwide options are overseen by the ASRS. You may also want to peak with your employer’s HR department, as your employer may offer additional savings plans as well.
We encourage you to explore all your options for supplementing your retirement so you can have additional income when you retire. If you would like to see how much a savings plan can impact your future retirement, there are some resources available to you: Investor.gov includes both a Savings Goal Calculator and a Compound Interest Calculator that you can use to see how long it takes you to reach your goals, including how much you can receive.
