Dive In for More New Offerings
We’re rolling out another wave of enhanced product offerings.
This momentum stems from our recent acquisition of Securian Financial’s retirement plan recordkeeping business. As we continue to harness the best of both teams, we’re excited to introduce features that can help you grow your business.
Keep reading to learn about features that can:
- Help participants increase contributions
- Make loan repayments easier for sponsors and participants
- Increase access to resources for Spanish-speaking individuals
- Allow advisors and plan sponsors to leverage existing plan investments
Step-Up Savings helps boost retirement savings with automatic, annual contribution rate increases. Participants who are not auto enrolled can opt into this service at any time. The optional service is available at no extra cost to plan sponsors or participants. It’s currently available to new plans only.
ACH Loan Repayment
Plan sponsors can now elect to have participants make loan repayments using an Automated Clearing House process. For plan sponsors, the ACH payment process means less work for their human resources and payroll departments. For participants, the process makes it easy to set up payments from their personal bank accounts. This feature also allows them to continue making loan repayments even if they no longer work for the organization. There’s no extra fee for this service.
Resources for Spanish Speakers
Beginning in September 2023, users of our online Personal Savings Center will be able to toggle between English and Spanish. This can help Spanish-speaking employees take full advantage of their employer-provided retirement benefit. Within the PSC, Spanish-speaking participants can more easily:
- Explore educational resources
- Make transactions
- View their Retirement Readiness score
- Access personalized financial wellness resources from EnrichTM
- Use other tools to help make financial decisions
Target RiskTM and Target Age® Portfolios
Advisors and plan sponsors now have access to Target Age and Target Risk portfolios. These investment models allow them to leverage existing plan investments to create diversified asset allocations for participants. They’re available at no extra cost.
Target Age Portfolios use an individual’s age as the basis for making an investment portfolio selection. A Target Age Portfolio automatically adjusts investment allocations as a participant moves from one age band to the next. Target Risk Portfolios help individuals invest based on their risk tolerance.
Want more information about our new offerings? Contact your representative at The Standard.