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News and Information Article
PORTLAND, Ore., Feb. 7 // -- Standard Retirement Services
("The Standard"), a subsidiary of StanCorp Financial Group, Inc. (NYSE:
SFG) has reported that assets in RightPath, its next generation defined
contribution (DC) plan, have topped one billion dollars. RightPath was
launched in late 2004 by Invesmart, Inc., after four years of research and
development, as a participant-focused approach to traditional Defined
Contribution (DC) plans. Invesmart, Inc. was purchased by The Standard in
2006.
Participants who enroll in the RightPath program have the choice of
managing their account themselves or electing an unbiased, fee-based
managed account alternative called AdvicePath. With AdvicePath,
participants investments and contribution levels are managed by StanCorp
Investment Advisors, Inc., The Standards registered investment adviser.
Seventeen percent of employees enrolling in the RightPath program were
not previously contributing to an employer-sponsored retirement plan. In
addition, 44 percent of participants who enrolled in RightPath increased
their contribution levels following the enrollment meeting, resulting in an
average total increase of 3.75 percent of pay. During the enrollment
process, 58 percent of participants who enrolled in RightPath have selected
the AdvicePath managed account alternative.
"We are very pleased with RightPaths strong record of success in just
over two years. We are especially happy with the high rate of participant
adoption we are experiencing with our managed account option. We believe
our current 58 percent adoption rate is an industry-leading figure," said
Kent Buckles, vice president, Sales, Marketing and Advisory Services at The
Standard. "Invesmarts integration with The Standard is progressing very
well, and we look forward to being able to offer RightPath through The
Standards group annuity platform sometime during the second half of this
year."
The RightPath program is dedicated to helping participants build their
nest egg for a financially secure retirement through objective advice from
unbiased investment professionals. Since the programs inception just over
two years ago, more than 300 qualified plans have either converted or are
in the process of converting to RightPath. These plans represent a total of
approximately 28,000 participants and just over $1 billion in assets.
The Standard has provided retirement plan services for more than 70
years. Products are available on a full service or recordkeeping-only
basis. The Standard promotes a participant-centric approach with services
such as AdvicePath, its highly successful managed account option for plan
participants. For more information on The Standards retirement services,
visit retirement.standard.com.
About The Standard
StanCorp Financial Group, Inc. ("StanCorp") (NYSE: SFG) through its
subsidiaries marketed as The Standard -- Standard Insurance Company, The
Standard Life Insurance Company of New York, StanCorp Investment Advisers,
Standard Retirement Services, StanCorp Equities, StanCorp Trust Company and
StanCorp Mortgage Investors -- is a leading provider of financial products
and services. The Standard serves approximately 8.1 million customers
nationwide as of December 31, 2006 with group and individual disability
insurance, group life and dental insurance, retirement products and
services and investment advice. For more information about The Standard
visit http://www.standard.com.
Disclosure
Information in this news release includes certain statements related to
projected growth and future events. These statements are "forward-looking"
statements as that term is defined in the Private Securities Litigation
Reform Act of 1995. Because such statements are subject to risks and
uncertainties, actual results in future periods may differ materially from
those expressed or implied by such forward-looking statements. Past
performance is no guarantee of future results. See StanCorps 2005 annual
report on Form 10-K and most recent Form 10-Q filed with the Securities and
Exchange Commission for a description of the types of uncertainties and
risks that may affect actual results.
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