Nationwide, a company deeply rooted in agricultural history, has announced a significant achievement in its longstanding partnership with the Ohio Farm Bureau. The company has taken on the responsibility for Ohio Farm Bureau's defined benefit plan retirees through a pension risk transfer (PRT) transaction.

According to Adam Sharp, the executive vice president of Ohio Farm Bureau, Nationwide's shared values with the organization and its track record of strength and stability made them the ideal choice for this partnership. Sharp stated, "Nationwide is a company with a deep agricultural history and an understanding and appreciation for Farm Bureau members since that’s where the company started."

The PRT transaction will enable Ohio Farm Bureau to streamline its operations while ensuring the continued protection of its participants' benefits under Nationwide's management. Paula Cole, vice president of Nationwide’s Pension Risk Transfer business, emphasized the company's commitment to providing a seamless transition experience for the plan participants. Cole commented, “We pride ourselves on offering a seamless transition experience for plan participants, helping them feel confident that their hard-earned benefit will continue without interruption under our management.”

Facilitated by CBIZ Benefits & Insurance Services, Inc., the transaction underscores Nationwide's dedication to delivering personalized service and transition simplicity in its Pension Risk Transfer business. With over 60 years of experience in annuity, defined benefit, and risk management, Nationwide aims to ensure the continuity of benefits for Ohio Farm Bureau retirees.

The partnership between Nationwide and Ohio Farm Bureau is a testament to Nationwide's evolution since its inception as Farm Bureau Mutual Automobile Insurance Company in 1926. Over the years, Nationwide has solidified its position as the top insurer of farms and ranches in the United States, strengthening relationships with state Farm Bureaus nationwide.

This milestone underscores Nationwide's ongoing commitment to providing exceptional care to Ohio Farm Bureau retirees and fostering long-term relationships with its partners. For more information on Nationwide's Pension Risk Transfer services, interested parties can visit the Nationwide Pension Risk Transfer website.