Question-and-Answer Session
Operator: [Operator Instructions]. Our first question comes from Tamara Kravec from Banc of America Securities.
Tamara Kravec - Banc of America Securities
Hi. Thank you. Good morning. A couple of questions in the 401K business, and you talked about the efficiencies you're going to recognize between your public and private. But specifically in 401K, your surrenders ticked up and the markets are difficult. Are there any specific things you're doing to address retention there? And the bank and the mutual fund operations, at your Investor Day, you had looked for 10 million of earnings contribution from the bank and about 20 from the mutual funds of ?08. Has that changed based on the progress that you have made?
Mark Thresher - President and Chief Operating Officer, Nationwide Financial
This is Mark. Let me touch on the retention first. Clearly in the 401K business, you are right, I think there was a slight pickup in the fourth quarter, probably have a few larger cases that left us. We have retention efforts across all the businesses. One of the key efforts is actually one of the things that John talked about, which is getting back to advisors that used to do business with us, that aren’t doing today it and re-establishing relationships with them. The team also has an active list of what I’ll say cases at risk and cases at risk would be defined as again maybe advisors not doing business with this in a while. It would be the size of the case, a number of things that would factor into that an actively than re-establishing relationships with both the advisor and the pension plan administrator as well as the plan sponsors. So, we will continue to leverage those efforts as John said now that we are fully staffed across-the-board there going forward. I think as far as the bank and mutual funds, our guidance, can you add a comment here.
Timothy Frommeyer - Senior Vice President and Chief Financial Officer
On the bank, I think we are on track, at expectation. Clearly the markets? and as the Fed continues to take rates down, could put some pressure on that, but we still think we are right in that range at this point. NFG, we are probably a bit ahead of where we thought we were at the time of the investor conference.
Tamara Kravec - Banc of America Securities
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