Published:
Bay College Selects The Standard as Single 403(b) Plan Provider
PORTLAND, Ore. - (BUSINESS WIRE) - Standard Retirement Services, Inc. ("The Standard"), a subsidiary of
StanCorp Financial Group, Inc. (NYSE:SFG) is pleased to announce it has
been selected by Bay College of Michigan to become their single 403(b)
plan provider. Bay College, located in the Upper Peninsula region of
Michigan, is a two-year public college with a main campus in Escanaba
and an additional location in Iron Mountain. The Bay College 403(b) plan
includes 250 eligible participants.
"The single provider service model is beneficial to us in several ways,"
said Tom Griggs, Director of Human Resources for Bay College. "The
Standard is able to obtain lower fund management costs by leveraging the
total assets of our plan. In addition, they practice full fee
transparency and offer full fiduciary support, which are critical to us
in light of the new IRS 403(b) regulations that took effect at the
beginning of this year." The Standard's investment selection and
monitoring process and comprehensive participant education program were
also cited as reasons for the decision.
The Standard was chosen following a comprehensive search process
conducted by the Bay College pension committee. The committee also asked
plan participants to take a survey, the results of which were
incorporated into the decision-making process.
Scott Ciullo of PlanMember Services Corporation will assist with
employee education for the plan.
The Standard has provided retirement plan services for more than 70
years. Products are available on a full service or recordkeeping-only
basis, through both a trust platform (available in all states) as well
as a group annuity platform (available in all states except New York).
For more information on The Standard's retirement services, visit www.standard.com
or contact a Pension Consultant at 877.805.1127.
About The Standard
StanCorp Financial Group, Inc., through its subsidiaries marketed as The
Standard - Standard Insurance Company, The Standard Life Insurance
Company of New York, Standard Retirement Services, StanCorp Mortgage
Investors, StanCorp Investment Advisers, StanCorp Real Estate and
StanCorp Equities - is a leading provider of financial products and
services. StanCorp's subsidiaries serve approximately 8.2 million
customers nationwide as of September 30, 2009, with group and individual
disability insurance, group life, AD&D, vision and dental insurance,
retirement plans products and services, individual annuities and
investment advice. For more information about The Standard, visit www.standard.com.
Disclosure
StanCorp Equities, Inc., member FINRA/SIPC, distributes group annuity
contracts issued by Standard Insurance Company and may provide other
brokerage services. Third party administrative services are provided by
Standard Retirement Services, Inc. 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.
StanCorp Financial Group, Inc.
General Media
Bob
Speltz, Director, Public Affairs
971.321.3162
bob.speltz@standard.com
or
Investor
Relations and Financial Media
Jeff Hallin, Assistant Vice
President, Investor Relations
971.321.6127
jeff.hallin@standard.com
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