PORTLAND, Ore., Feb. 7 /PRNewswire/ -- 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 Standard's 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 RightPath's 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. "Invesmart's integration with The Standard is progressing very well,
and we look forward to being able to offer RightPath through The Standard's
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 program's 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 Standard's 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 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 StanCorp's 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.
CONTACTS
Product Information
Kent Buckles
Vice President, Sales,Marketing and Advisory Services
Telephone: (971) 321-6002
E-mail: kbuckles@standard.com
Corporate Information
Tiana Tozer
Public Relations Specialist
Telephone: (971) 321-6418
E-mail: ttozer@standard.com
Investor Relations and Financial Media
Jeff Hallin
Second Vice President, Investor Relations and Financial Planning
Telephone: (971) 321-6127
