Fringe Benefit Group, based in Austin, Texas, has added the Nationwide Retirement Clear Advantage platform to clients through The Contractors Plan, its wage benefit program.

Adam Bonsky, executive vice president of government markets for Fringe Benefit Group, said the nation’s stimulus plan – also known as the American Recovery and Reinvestment Act of 2009 – is providing contractors “with an excellent opportunity to win new business.” Adding the benefits of The Contractors Plan, he said in a statement, can help companies in bidding for these projects “with the government’s increased focus on compliance and audits.”

Fringe Benefit Group decided to add the Nationwide platform to the plan, it said, as an alternative savings solution for contractors and their employees.

The Nationwide Retirement Clear Advantage option is a mutual fund-based product, enabling participants to choose their own mix of investment funds from Nationwide’s individual fund offerings.

Participants who prefer not to choose their own mix of investment funds can choose the appropriate “target date” fund which corresponds with their anticipated retirement date. The fund automatically adjusts its investments to become more conservative as the retirement date approaches. The Nationwide platform includes choices from fund families such as American Funds, PIMCO, Vanguard and Dreyfus.