Standard Retirement Services, Inc. (The Standard) was awarded multiple honors based on results of the PLANSPONSOR magazine 2023 Best in Class Provider Survey, an annual evaluation of approximately 2,000 defined contribution plan sponsors across the country.
The Standard secured the No. 1 net promoter ranking for recordkeepers serving retirement plan sponsors in the under $5 million category. For the third year in a row, The Standard earned a top-three ranking for net promoter scores in the $25 million – $50 million category. The Standard also qualified in a third category, ranking No. 6 in the $5 million – $25 million market.
PLANSPONSOR also recognized The Standard as one of 10 standout providers. These companies earned the greatest number of service awards in the survey’s six main categories. The Standard was honored to receive a gold standout award in the under $5 million market and a bronze standout award in the $25 million – $50 million market.
“This survey is particularly meaningful because it is based on feedback from our own clients,” said Maria Gonzalez, vice president of Retirement Plan Services. “We are committed to providing a positive service experience for all our plan sponsors and their employees every day.”
PLANSPONSOR Best in Class awards are based on plan sponsor satisfaction within a given area of service.
Our retirement plans service team earned 20 Best in Class awards and one service commendation in three market categories: under $5 million, $5 million – $25 million, and $25 million – $50 million. (See below.) In the under $5 million market, The Standard received recognition in every possible category.
Awards in the under $5 million market:
- Plan administration
- Plan design flexibility
- Systems integration
- Online/mobile retirement planning tools
- Online/mobile financial wellness offerings
- In-person/virtual participant support
- Enrollment materials and support
- Print/digital communications and education
- Website, reporting and tools
- Account/client service teams
- Investment options
- Fee value and transparency
Awards in the $5 million – $25 million market:
- Enrollment materials and support
- Account/client service teams
- Fee value and transparency (service commendation)
Awards in the $25 million – $50 million market:
- Plan administration
- In-person/virtual participant support
- Enrollment materials and support
- Website, reporting and tools
- Account/client service teams
- Investment options
For additional details and the full survey methodology, visit the PLANSPONSOR website.
About The Standard
The Standard is a family of businesses dedicated to helping our customers achieve financial well-being and peace of mind. In business since 1906, we are a leading provider of financial products and services for groups and individuals. Our products include group and individual disability insurance, group life, dental and vision insurance, voluntary (employee-paid) benefits, absence management and paid family leave services and retirement plans and annuities for employers and individuals. For more information about The Standard, visit www.standard.com or follow us on Facebook 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 offered by StanCorp Investment Advisors, a registered investment advisor. StanCorp Investment Advisers, StanCorp Equities, Inc., Standard Insurance Company and Standard Retirement Services, Inc., are subsidiaries of StanCorp Financial Group, Inc., and all are Oregon corporations.
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Contacts
Melissa Wilmot
The Standard
971.321.4976
melissa.wilmot@standard.com
