PORTLAND, Ore.--(BUSINESS WIRE)--Standard Insurance Company (The Standard) is waiving certain retirement plan administrative fees and contributing to community efforts to assist those affected by COVID-19.
In addition to implementing the provisions of the CARES Act, The Standard is offering fee relief for retirement plan sponsors and their employees. This includes waiving distribution and loan origination fees for COVID-19-affected participants and waiving CARES Act-related amendment fees for employers through Aug. 31, 2020.
The Standard has launched a new charitable initiative to support communities affected by the coronavirus. Throughout the month of May, every virtual meeting scheduled with a retirement plan advisor will be matched by a $25 donation to Feeding America. This effort complements The Standard’s community relief initiative announced on March 30 from The Standard Charitable Foundation.
“With more Americans facing unemployment and food insecurity as a result of the COVID-19 pandemic, The Standard continues to seek ways to support our communities,” said Rob Baumgarten, vice president of Retirement Plan sales at The Standard. “This program helps us connect with our advisor partners and provides much needed funds to food banks across the U.S.”
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 services, retirement plans and annuities for employers and individuals, and origination and servicing of fixed-rate commercial mortgage loans. For more information about The Standard, visit www.standard.com or follow us on Facebook, Twitter or LinkedIn.
The Standard is the marketing name for StanCorp Financial Group, Inc., and its subsidiaries: Standard Insurance Company, The Standard Life Insurance Company of New York, Standard Retirement Services, Inc., StanCorp Mortgage Investors, LLC, StanCorp Investment Advisers, Inc., StanCorp Real Estate, LLC, and StanCorp Equities, Inc.