000003
IVR and Web Demonstration 401(k) Savings

Standard Insurance Company offers electronic funds transfer for retirement plan deposits. This service automatically transfers the correct amount directly from an account you designate to The Standard each time you transmit contribution data using Participant Data Management.

To register for EFT (or edit your existing bank information):

• Contact your bank or credit union to ensure your account can process automated ACH withdrawal transactions.
• To edit or remove an account, select View Account.
  

Changes to your account information will require a two-week processing period. During this time, you will need to initiate ACH or wire transfers from your bank for any payroll files submitted to The Standard.

If an EFT transaction fails due to insufficient funds in your account or incorrect account information provided by you, you are responsible for the costs resulting from a delay in transferring funds.

Your company's Plan Sponsor Designee is authorized to name a representative of the plan to add and maintain bank information for automated EFT. The Plan Sponsor Designee must submit a PlanNet and PDM Access/Authorized Contacts Form naming the representative (Banking Designee). After this form is received by The Standard, the Banking Designee will be granted access to add and maintain bank information for the plan.

For definitions of these fields, please review the Participant Data Management Guide by selecting the PDM Help option from the menu above.

Questions? Call (800) 378-8356 or e-mail PDMHelp@standard.com for assistance.