StanCorp Financial Group Inc.

09/28/2021 | Press release | Distributed by Public on 09/28/2021 11:13

The Standard Introduces Accelerate for Small Retirement Plans

September 28, 2021

Accelerate builds on The Standard's suite of solutions for retirement plans with up to $2 million in assets

PORTLAND, Ore. - Standard Retirement Services, Inc., (The Standard) has announced Accelerate, a new 401(k) recordkeeping solution designed to meet the needs of retirement plans with up to $2 million in assets. Offering best-in-class service at a competitive price, Accelerate enables small plans to seamlessly grow on the same platform as large plans.

"We conducted market research that revealed a significant opportunity for us to scale our expertise and service-first culture to meet the needs of small plans," said Rob Baumgarten, vice president of Retirement Plan Sales at The Standard. "There is a big opportunity to enhance small plan relationships that might have felt limited in their retirement plan options. Through partnerships with TPAs, Accelerate provides peace of mind by creating efficiencies and delivering a superior experience for our clients."

Accelerate leverages The Standard's service-first culture to give clients a large-plan experience, with a streamlined design that allows advisors to manage small plans efficiently and accurately. Key features of Accelerate include:

  • The Standard's consistent best-in-class service as recognized by PLANSPONSOR
  • A scalable platform that can accommodate plan growth without time-consuming conversions
  • An intuitive online Quick Start Tool for quick and easy plan quoting
  • Flexibility in providing a range of competitive investment options
  • Optional investment fiduciary services from Morningstar
  • A designated account manager for a consistent point-of-contact
  • The Standard's proven history of delivering a seamless experience regardless of plan size

"Accelerate was created with ease of use in mind, allowing advisors and TPAs to use thoughtfully designed resources for their small plan clients," said Jody Meth, senior director of Retirement Plan Product Management at The Standard. "In addition to its intuitive quoting process and streamlined onboarding and reporting tools, Accelerate is powered by our clean data technology to ensure errors are caught early - increasing accuracy, saving time and reducing risks."

Baumgarten added, "Serving small retirement plans is nothing new for The Standard, but with Accelerate we can provide small plans a level of service typically reserved for larger plans at a competitive price."

Since 1932, The Standard has provided recordkeeping and investment services for retirement plans including 401(k), profit sharing, money purchase, 403(b), 457, defined benefit and cash balance plans. The Standard works closely with advisors and third-party administrators to deliver high-quality solutions to a wide range of employers including corporations, government agencies and nonprofit organizations. For more information on how Accelerate can help your business, visit standard.com/accelerate.

About The Standard

The Standard is a family of companies dedicated to helping customers achieve financial well-being and peace of mind. In business since 1906, we are a leading provider of financial protection products and services for employers and individuals. Our products include group and individual disability insurance, group life, dental and vision insurance, voluntary (employee-paid) benefits, absence management services, and retirement plans and annuities for employers and individuals. For more information about The Standard, visit standard.com or follow us on Facebook, Twitter or LinkedIn.

The Standard is the marketing name for StanCorp Financial Group, Inc., and its subsidiaries. StanCorp Equities, Inc., member FINRA, wholesales a group annuity contract issued by Standard Insurance Company and a mutual fund trust platform for retirement plans. Standard Retirement Services, Inc., provides financial recordkeeping and plan administrative services. Investment advisory services are provided by StanCorp Investment Advisers, Inc., a registered investment advisor. StanCorp Equities, Inc., Standard Insurance Company, Standard Retirement Services, Inc., and StanCorp Investment Advisers, Inc., are subsidiaries of StanCorp Financial Group, Inc., and all are Oregon corporations.

Contact:

Lisa Martin-Bomnskie
503.972.8832
[email protected]

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Confidence and Compassion

A Note from Greg Ness, Chairman, President and CEO

At The Standard, we've been helping people achieve financial well-being and peace of mind since 1906. As the global health crisis continues to disrupt lives, communities and the economy, I am confident we'll continue helping people when they need us the most. Our company has been through hard times and market volatility before and we will navigate through this challenge as well. As our customers face tremendous stress and uncertainty, we will continue providing support and stability to those who rely on our products and services.

This pandemic is tough on everyone. Our communities are hurting, our families and friends are distressed and some of our most vulnerable neighbors are at risk.

The crisis and the way we collectively respond to it will define a generation. We are rising to the challenge. I know every single employee at our company - along with staying focused on keeping our business running and serving our customers - is looking for ways to make a difference for those most affected by this pandemic. That's proving true in businesses and homes across the community, the country and around the world.

Part of the tragedy of this disease is that even as we come together to help those most in need, the unique nature of COVID-19 is forcing us apart. We all understand the importance of -social distancing- to slow the spread, but we should remember that's just physical distancing. I encourage you to find ways to safely connect with those in your neighborhood who may require extra help and with groups in your community that are making a difference and support them however you can. And now is the perfect time to reach out to friends and others and just check in.

To our health care providers, first responders and everyone selflessly setting aside their own fears and concerns to help others during this time - thank you hardly seems enough. These people are true heroes. This crisis reinforces how reliant we are on the many essential services we too often take for granted. We are grateful to so many for continuing to show up with focus and commitment.

We will get through this, especially if we are sustained by the examples of those who make us the proudest right now - family, friends, neighbors and colleagues working together - rather than allowing our fears to guide us. No matter how unsettled we may feel, remember we are not alone. There are so many people in this world trying their level best to help others. And I am certain we will get through this - together.

In times of crisis, we are defined by how we react. Let's continue to be defined by compassion.

And to our customers, thank you for putting your trust in The Standard. What we sell is a promise to be there when you need us, and that promise is unwavering.

Be safe and well, and stay connected.

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Age: 36 - Occupation: pediatrician - Married, one child

How the Family Care Benefit provided the ability to care for a loved one
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