Entries for $2,500 NACo, Nationwide Scholarship Now Being Accepted

High-school seniors whose parents, grandparents or legal guardians actively contribute to a 457(b) plan offered through the NACo Deferred Compensation Program are eligible to apply for a $2,500 college scholarship. Four $2,500 scholarships will be awarded in the spring  in honor of the scholarship program’s 12th year in existence.

The NACo-Nationwide scholarship essay contest is an educational opportunity for high school students about to transition into a new stage of their lives. Young adults should understand the importance of preparing for a comfortable financial future as well as be aware of potential obstacles, according to NACo’s President Bryan Desloge. “These challenges will continue to escalate in years to come so it will be incumbent on our organization and our exclusive retirement services partner to listen to the creative voices and obtain the transformative ideas of our next generation.

“These scholarships and its criteria allow us to examine this information and build even better retirement tools and resources. We look forward to receiving these thought-provoking ideas from many of these impressive graduating high school seniors through this process,” said Desloge.

To help students consider why saving early and consistently may be important, Desloge shared key points from last year’s scholarship winners, who answered the question, “Upon entering the workforce, what would convince you to start saving now for retirement? Consider not only the reasons why, but the communication methods that would be most effective to receive this information.”

• Alexander Olson of Livingston County, Ill. saw potential in using various new technologies to communicate with and educate millennials about retirement planning. He wrote, “My generation has grown up with the internet, social media and smart phone apps being our way to communicate with each other as well as the world. These methods would be a great way to reach my generation and get us willing to start investing as early as possible for retirement.”
• Chandler Thompson of Sullivan County, Tenn. pointed to the media’s focus on the rich and famous as playing a role in discouraging today’s youth to save for retirement. Instead of focusing on qualities like patience and responsibility, Thompson said messaging should focus more on: “…maintaining a lavish, fun filled life of wealth and prosperity by making the connection that placing an untaxed portion of their income in a secure location with a reasonable rate of return will guarantee continuance of their successes.”
• Jake Shim of Broward County, Fla. wrote about how parents can be a valuable source of knowledge to their children when it comes to retirement planning. While Jake’s mom is more of the free-spirited, impulsive type, his father instilled in him the value of saving at a young age.Jake writes, “Mom used to laugh at dad sometimes because he would always be thinking of how to make things more efficient and ways to save money. However, I think my dad will have the last laugh when it comes time to retire.”
• Ayana Riley of San Diego County, Calif. points out a major deficit in education her generation receives surrounding retirement planning, writing, “Financial literacy is just as important to learn as the English language.” She sees potential in using “visually stimulating” social media communications to connect with her generation. She wrote, “A social campaign with a catchy hashtag would engage your intended audience and inspire them to educate themselves.”

How Eligible Students Can Apply

Parents, grandparents or legal guardians should talk to their eligible high school seniors about applying right away. The application can be completed online at www.nrsforu.com/scholarship.

Nationwide sponsors the NACo-Nationwide Scholarship to recognize the more than three decades of partnership with the NACo and its member counties. 

Eligibility Requirements

• Graduating high school seniors who are legal U.S. residents are eligible to apply. 
• Applicant’s parent, grandparent or legal guardian must be enrolled in and actively contribute to a 457(b) plan offered through the NACo Deferred Compensation Program. 
• Applicants must enroll in a full-time undergraduate course of study no later than the fall term of the 2017-2018 school year at an accredited two- or four-year college. 
• Immediate family members of NACo employees, or members of the NACo Defined Contribution and Retirement Advisory Committee, or its governing board of directors, or staff of individual state associations of counties that are members of the LLC, or Nationwide employees are not eligible to apply; this program is not offered outside the United States. 
• Application and entry must be submitted online at www.nrsforu.com/scholarship by March 5.

For additional information about the NACo Deferred Compensation Program, please contact David Belnick at david.belnick@nationwide.com or 410.790.5440; or contact your Nationwide representative at 877.677.3678.