I’m no longer managing dates, having printing/mailing parties with my staff or being late with my notices. And the best part is that The Standard is accountable for the services.
Reduce Your Workload — and Your Risk
Retirement plan administration is complex. And mistakes can be costly to your organization. Let our experienced professionals take the burden off you and your HR staff. We can deliver administrative resources, fiduciary solutions and our proprietary data technology approach.
HR manager and client of The Standard
Participant Data Management
We include Participant Data Management in every plan we offer. Our data technology scrubs data with every payroll submission by running more than 90 validations. Higher accuracy means less exposure to fiduciary risk and less time making corrections.
Fiduciary Protection: We’ve Got It Covered
As a Delegated ERISA 3(16) Administrative Fiduciary, The Standard accepts responsibility for completing certain administrative tasks accurately and on time. And we back our services in writing with an industry-leading “hold harmless” indemnification clause.
We make sure required notices are sent directly to participants. These include summary plan descriptions, quarterly participant statements and required blackout notices.
We track employee eligibility based on your plan’s provisions and notify employees so they can begin participating as soon as possible.
We handle compliance testing according to your plan provisions. We select the test that fits your plan, and we keep you informed about the results and actions needed. And our Participant Data Management technology ensures that clean data is available for testing whenever it is needed.
We can manage the distribution process from the start of a request to payment. We’ll also review hardship requests and QDROs directly with employees.
Reduce Your Workload, Costs and Risk
Talk to your advisor or relationship manager about how our administrative services can help.