PORTLAND, Ore.--(BUSINESS WIRE)--Standard Retirement Services Inc., (The Standard), has been awarded multiple honors based on the results of the PLANSPONSOR 2021 Best-in-Class Provider Survey, an annual survey of approximately 3,000 defined contribution plan sponsors across the country. The Standard received 12 Best-in-Class awards and seven service commendations, as well as two top-five Net Promoter® Score placements in the $5 million to $25 million and $25 million to $50 million categories.
“Meeting and exceeding our clients’ expectations is what we strive for every day,” said Maria Gonzalez, vice president of Retirement Plan Services. “We are pleased to see that our culture of service is reflected in this recognition from plan sponsors, and proud of the entire Retirement Plan organization for the consistency and quality they deliver to our clients.”
12 Best-in-Class Provider Awards in Three Market Categories
PLANSPONSOR Best-in-Class Awards are based on plan sponsor satisfaction within a given area of service. The three highest-scoring providers in the micro and small-market categories and the two highest-scoring providers in all other markets earned a Best-in-Class Award. The Standard received a total of 12 Best-in-Class awards in three market categories (under $5 million, between $5 million and $25 million, and $25 million to $50 million).
Top-five Net Promoter® Scores in Two Market Categories
A provider’s NPS calculation is based on subtracting the percentage of customers that are “detractors,” giving a score of 6 or less, from the percentage that are “promoters” giving a 9 or 10. A score of 70% is the benchmark for “best in the industry.” Clients responding to the 2021 survey gave The Standard high marks, placing the company in the top five NPS scores within two industry categories. In the small-market category ($5 million to $25 million), The Standard earned an NPS of 87.8%, landing in the top five. In the small-market category ($25 million to $50 million), The Standard earned an NPS of 81%, taking third place.
For additional details and the full survey methodology, please visit PLANSPONSOR.
About The Standard
The Standard is a family of companies dedicated to helping customers achieve financial well-being and peace of mind. In business since 1906, we are a leading provider of financial protection products and services for employers and individuals. Our products include group and individual disability insurance, group life, dental and vision insurance, voluntary (employee-paid) benefits, absence management services, and retirement plans and annuities for employers and individuals. For more information about The Standard, visit standard.com or follow us on Facebook, Twitter 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 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.
