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Standard To Offer Retirement Plan Loan Services

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NU Online News Service, Sept. 28, 2004, 3:15 p.m. EDT

Standard Insurance Company, Portland, Ore., wants to help retirement plan sponsors administer plan loans and distributions.[@@]

The company, a unit of StanCorp Financial Group Inc., Portland, will offer the fee-based service to plan sponsors that designate Standard as the “approval process manager” for their plan loans and distributions.

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The Standard service will take responsibility for evaluation descriptions of hardship conditions and other administrative tasks.

Standard also offers a Web-based system for submitting requests for loans and distributions.