Employers often look to advisors and TPAs for help with administrative duties. With support from The Standard, you can reduce their workload, costs and risk.
We can take on certain administrative tasks or shoulder fiduciary responsibility for certain plan duties. You decide what you'd like us to handle and how visible you'd like us to be with your clients.
Standard Retirement Services, Inc. can take on a range of administrative tasks. We can even take on ERISA 3(16) Delegated Administrative responsibility.
We can take responsibility for delivering required notices, statements and disclosures, including:
We can:
We can:
Give yourself and your clients more time to focus on other priorities. Let us handle the delivery of required participant notices.
We validate information on each employee with every payroll. With the latest and most accurate data, you can help employers avoid fiduciary risk and the time it takes to correct bad data.
Work directly with our experienced problem-solvers and knowledgeable professionals.
We can back our services in writing with a "hold-harmless" indemnification clause. We put the following language in all contracts when we act as the 3(16) fiduciary.
“We agree to indemnify and hold you harmless from and against all claims, actions, obligations, damages, liabilities, penalties and expenses, including reasonable attorney’s fees, asserted against you to the extent such claims, actions, obligations, damages, liabilities, penalties and expenses are the direct result of our default of our responsibilities under this agreement, provided that you notify us promptly of the commencement of such action and cooperate as reasonably necessary in any defense…”
Whether you work with a third-party administrator or manage a TPA firm, we can work closely with you to decide on administrative responsibilities. This makes the process more efficient for everyone.
Partner with us to deliver administrative services and fiduciary solutions.
Certain qualifications apply for fiduciary services. To take advantage of our 3(16) delegated administrative fiduciary services:
Please contact us if you would like a full description of the terms and conditions associated with using our 3(16) Delegated Administrative Fiduciary Service
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.
