Benefits June 11, 2009
MI School Districts Choose The Standard as Single Vendor
June 11, 2009 (PLANSPONSOR.com) - Standard Insurance
Company, a subsidiary of StanCorp Financial Group, Inc. has
announced it has been selected by a consortium of 15 school
districts in southeast Michigan to become their single 403(b)
plan provider.
Reported by Rebecca Moore
The school districts are located in Wayne and Washtenaw Counties.
As a single provider, The Standard says it is able to obtain lower fund management costs by leveraging the total assets under management from all 15 school districts. In addition, the company will credit all service fees received from the fund companies back to the plan.
Last year The Standard was selected by groups in Nebraska to be the sole provider for a statewide plan which can be chosen by its 285 independent school districts (see Standard Gets Nebraska 403(b) Nod ).