Money Matters - Feb. 8. 2016

Luke McKay

NACo-Nationwide scholarship essay contest entries due March 6

Your high school senior could be awarded $2,500 for college.

The National Association of Counties-Nationwide Scholarship Essay Contest is an educational opportunity for high school seniors. Students 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 college scholarship of $2,500. Four $2,500 scholarships will be awarded in spring, 2016.

Nationwide sponsors the NACo-Nationwide Scholarship to recognize its 35-year partnership with NACo and its member counties.

How an eligible student can apply

The application can be completed online at www.naco.org/retirementscholarship. Please refer to the eligibility requirements listed below:

• 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 2016–2017 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 states’ association 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 by March 6. No faxed or emailed submissions will be accepted.

David Thompson at NACo Financial Services says, “Even though these applicants are often decades away from retirement, they often show impressive thinking when it comes to investing in their future.

“Their submissions reflect this focus in a manner that shows both depth and creativity. Now in our 11th year, we are pleased to be able to continue to award $2,500 to help these seniors in the next step in their education.”

To help prospective applicants as they start to write their entries, Thompson shared a quality response from one of last year’s scholarship winners about the iportance of building your retirement savings early:

Luke MacKay of San Bernardino County, Calif. wrote: “Starting early means having more money set aside, allowing you to maybe retire 10 or even 15 years earlier than your coworkers who haven’t saved. This can allow you to enjoy activities, family, volunteering or travel while you have the health and vitality to be really adventurous…and that’s what all the saving and hard work is for in the first place.”

For additional information about the NACo Deferred Compensation Program, please contact Carlos Greene at cgreene@naco.org or your Nationwide Representative.

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