Standard Insurance Company has introduced Portfolio Progression, a service that can help retirement plan members allocate their plan assets.

Once participants complete a questionnaire, an automated system will create a personal investment strategy based on the participant’s risk tolerance and target retirement age, according to Standard, a unit of StanCorp Financial Group Inc., Portland, Ore.

The service automatically makes the portfolio more conservative as the participant ages, Standard says.

The service is free for participants in Standard’s clients’ retirement plans.