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Nationwide' <br />Retirement Solutions <br /> <br />Duane C. Meek <br /> President <br /> <br />August 19, 2002 <br /> <br /> Loans, QDROs and the latest on the IRS's 457 regulations .. <br />Just after thc intemaI Revenue Service introduced ks proposed reguIations for plans governed <br />under Section 457, Nationwide Retirement Soludons prom/set to keep you informed on our <br />study of what's in d~em and how they may affect you. <br /> <br />Today, we provide the latest inst01]ment on that comn~unent. Enclosed you 5rill fred a point-by- <br />point ourhnc, detailing what's in each proposal, how Nationwide Retirement Solutions is <br />responding to k, what your options are and how we'll suppor~ you. In many cases, yoaql find <br />that what the 5RS proposes is how we've been conducting business as your plan admlnisr~ator <br />and recordkecpcr. <br /> <br />We also are pleased to introduce two new opdons 5vitNn your 457(b) deferred compensation <br />plan: Participant loans from 457(b) accomxts, which become available October 1, 2002, and <br />affirmative procedures fl0r Qu~Efied Domestic Relations Orders (QDROs). In both cases, your <br />Plan Document must be amended if' you wahl Icl offer these t,~o new options. <br /> <br />A key provision witt~ the proposed regulations is a reclt~rement that p/m~ sponsors operate <br />457(b) plans according to a speciSc, wtittcn plan docmnent. In keeping with that stance md our <br />long-star, ding business practice, Nationwide has prepared language you ma? adopt as an <br />amen&uent to your Plan Document. <br /> <br />If you want your 457Co) deferred compensation plan to be able to offer loans and/or respond <br />affirmatively to QDROs, you may: <br /> <br />* sign the appropriate doc~u'nents, photocopy them for your ~es and return the o~g~ds in <br /> the enclosed business-reply envelope; or <br /> <br />· conLact your Nationsvide Rerkrement Solutions representative fbr more infommdon. <br />Thank you for entrustirzg Nationwide Retirement Solutions with your deferred compensation <br />plan. We remain committed to workiQg with you to 5.~rther your objccnves for your 457(b) plan, <br />and helping you promote deterred compensadun as a valued benefit for your employees. <br /> <br />Sincerely, <br /> <br />Duane C. Meek <br /> <br /> <br />