New Service Will Return $4.8 Million in Foreign Tax Credits

For our qualified retirement business, we recently announced a new practice for foreign tax credits. We’ll now return credits from certain separate accounts to participants’ retirement accounts. We adopted this unique practice from our Securian team members after we acquired Securian Financial’s recordkeeping business.

The results from 2022 are in. They show that we’ll begin passing back $4.8 million* in foreign tax credits starting in 2023.

What are the benefits of this industry-leading practice? Lower separate account expenses that can lead to increased performance for participants receiving these credits.

Contact your representative at The Standard to learn more about this feature.