Standard Retirement Plan Services Shines Again in 2019 PLANSPONSOR Survey

Retirement plan sponsor clients gave The Standard high marks in the 2019 PLANSPONSOR Best-in-Class Provider survey. The Standard qualified for recognition in three market categories: <$5mm, $5mm to $25mm and $25mm to $50mm.

Once again, The Standard received accolades for plan sponsor service and support, with best-in-class cups awarded in every category across all markets. Plan administration continued to be a key strength, with awards in 12 of 15 areas. Education and communication, investments and fees, and technology were also recognized with best-in-class cups and service commendations. A summary follows. View full results and methodology.

Kyle Krueger, account manager from The Standard, was selected for PLANSPONSOR’s Service Star Team Award. In 2020, just six individuals out of 800 industry nominees received this honor. PLANSPONSOR’s Service Star Awards recognize retirement plan relationship managers who, in the words of their clients, have demonstrated outstanding service. Last year, David Parker, relationship manager from The Standard, received the award. View additional details of the Service Star program.

Best-in-Class Cups Awarded to The Standard:  

Sponsor Service & Support

• Plan/Industry Knowledge ^{1, 2, 3}
• Responsiveness and Consistency ^{1, 2, 3}
• Regulatory/Compliance Services ^{1, 2, 3}

Plan Administration

• Transaction Processing/Error Reporting ¹
• Distribution/Loan/Withdrawal Processing ^{1, 2, 3}
• Beneficiary Administration ^{1, 3}
• Plan Design Flexibility ^{1, 3}

Investments & Fees

• Range of Investment Options ¹
• Fee Clarity/Transparency ^{1, 3}
• Cost to Value of Plan Fees ^{1, 3}

Education & Communications

• Participant Statements ²
• Enrollment Materials/Support ^{1, 2}
• On-site Meetings and Support ^{1, 2}
• Financial Education Offerings ¹

Technology

• Participant Call Centers ^{1, 2}
• Participant Website ²

Market categories: ¹ <$5MM ; ² $5MM – $25MM; ³ $25MM – $50MM

Service Commendations Awarded to The Standard:

The Standard received five service commendations (where greater than 50% of clients are completely satisfied) in these areas:

• Transaction Processing/Error Reporting ^{2, 3}
• Beneficiary Administration ²
• Plan Design/Flexibility ²
• Range of Investment Options ²

Market categories: ¹ <$5MM ; ² $5MM – $25MM; ³ $25MM – $50MM