The Standard

Winter 2009

The Standard Ensures All Eligible Retirement Plan Participants Receive PINs

As stated in a prior communication to plan sponsors, The Standard mailed Enrollment Alert letters to all eligible participants who had not yet received their Personal Identification Numbers (PINs). These Enrollment Alert letters notify employees that they are eligible to participate in their plans and include PINs so they can access their accounts and enroll online.

The Standard mailed the letters to participants with eligibility dates between Oct. 1, 2008, and Feb. 1, 2009. Our PIN assignment process paused temporarily during this period as plans transitioned to The Standard’s recordkeeping system and we validated their data.

This mailing ensured that all eligible participants, who had not received their PINs, could access their accounts and enroll online as soon as possible. Beginning February, eligible participants will receive letters using our streamlined PIN assignment process.

PIN Assignment Process Eliminates Wait Time for Eligible Employees

Our PIN assignment process is designed to make life easier for plan participants – allowing them to enroll online and access their accounts as quickly as possible. Here's how it works:

For plans that have immediate or first-of-the-month eligibility, PIN letters will automatically be mailed the day after they are added to the plan via The Standard’s Participant Data Management system. For plans that have other eligibility requirements, Enrollment Alert letters will be mailed to participants before their eligibility dates.
PINs are based on a formula that is both user-friendly and easily communicated to participants. This enables our enrollment staff to share the formula with participants so they can access their accounts before their PINs arrive in the mail.

Collecting a correct birth date and address when adding new employees is a critical component of this PIN assignment process.

Account Managers Ensure Accurate Delivery

Account managers worked diligently to ensure participants received their correct PIN assignments. Please contact your account manager should you have any questions or concerns about how the process affects your plan's specific needs.