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Standard To Offer Retirement Plan Loan Services

By Staff Writer

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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.

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.