PORTLAND, Ore., Sept. 28 /PRNewswire/ -- Standard Insurance Company ("The
Standard"), a subsidiary of StanCorp Financial Group, Inc. (NYSE: SFG),
announces a new fee-based service that allows plan sponsors to designate The
Standard as the Manager of the Approval Process (MAP) for retirement plan
loans and distributions.
Using this service, plan sponsors may choose to transfer the
administrative burden of the approval process, evaluation of hardship
conditions and distribution of funds to The Standard.
The MAP service coincides with the enhancement of an online service that
allows retirement plan participants to initiate paperless loan and
distribution requests using The Standard's Personal Savings Center Web site.
"Plan sponsors who choose to have The Standard as the Manager of the
Approval Process will realize significant time savings," says John Nord,
assistant vice president of administration of The Standard's Retirement Plans
Division. "These online services bring information to the fingertips of plan
participants and our business partners, allowing them to easily initiate loans
and distributions and view transaction details."
The Standard has provided retirement plan services for more than 65 years
and offers investment options through 26 mutual fund alliances. Products are
available on a full service or recordkeeping-only basis.
About StanCorp Financial Group, Inc.
StanCorp Financial Group, Inc., through its wholly owned subsidiaries --
Standard Insurance Company and The Standard Life Insurance Company of New York
-- is a leading provider of employee benefits products and services.
StanCorp's subsidiaries serve customers nationwide with group and individual
disability insurance and retirement products, and group life and dental
insurance with more than 30,000 group insurance policies in force covering
almost 6.5 million employees as of June 30, 2004. For more information about
StanCorp Financial Group, Inc., visit its Web site at
http://www.stancorpfinancial.com.
Disclosure
Information in this news release includes certain statements related to
projected growth and future events. These statements are "forward-looking"
statements as that term is defined in the Private Securities Litigation Reform
Act of 1995. Because such statements are subject to risks and uncertainties,
actual results in future periods may differ materially from those expressed or
implied by such forward-looking statements. See StanCorp's 2003 annual report
on Form 10-K and most recent Form 10-Q filed with the Securities and Exchange
Commission for a description of the types of uncertainties and risks that may
affect actual results.
SOURCE Standard Insurance Company
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Related links:
http://www.standard.com
CONTACT:
Product Information, Chris Dugan, Director,
Retirement Plans Marketing, 503-321-7551, or cdugan@standard.com,
or Corporate Information, Kira Higgs, AVP, Public Affairs and
Communications, 503-321-6418, or khiggs@standard.com, or Investor
Relations and Financial Media, Jeff Hallin, Director, Investor
Relations, 503-321-6127, or jhallin@standard.com
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