Vote — approved

Steve Gallardo	yes
Jack Sellers	yes
Bill Gates	yes
Clint Hickman	yes
Steve Chucri	yes

37.WAIVER FOR NATIONWIDE SERVICE LEVEL AGREEMENT Authorize and approve a waiver for Nationwide Retirement Solutions, Inc. Service Level Agreement (SLA) of $1,000. Nationwide’s SLA (Serial 12135 - Exhibit C: Service Level Agreements) includes a performance standard of answering 80% of plan participants phone calls within 20 seconds. If Nationwide is unable to meet the performance standard, a penalty for non-performance is $1,000 per quarter. During the COVID-19 pandemic, Nationwide experienced he

Item Text

37. WAIVER FOR NATIONWIDE SERVICE LEVEL AGREEMENT Authorize and approve a waiver for Nationwide Retirement Solutions, Inc. Service Level Agreement (SLA) of $1,000. Nationwide’s SLA (Serial 12135 - Exhibit C: Service Level Agreements) includes a performance standard of answering 80% of plan participants phone calls within 20 seconds. If Nationwide is unable to meet the performance standard, a penalty for non-performance is $1,000 per quarter. During the COVID-19 pandemic, Nationwide experienced heavy call volume during March 2020, and received over 2,200 calls from Maricopa’s plan participants; normal call volume is 1,900 per quarter. Not only was there an increase in call volume but the calls took longer to meet the needs of Maricopa’s plan participants. In March 2020, 75% of the calls were answered within 20 seconds and not 80% per the SLA. Nationwide implemented several strategies to address the heavy call volume including increasing call center resources and redeploying the evening call center shift to the daytime shift in which the call volume was heaviest. Despite Nationwide’s efforts, there were 10 days in March 2020, in which the SLA was not meet. On May 14, 2020, the Deferred Compensation Committee voted to waive the SLA penalty. (C-18-20-024-M-00)

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