Helps participants reach their retirement income goals
Standard Retirement Services (The Standard), a subsidiary of StanCorp Financial Group, intends to commence offering its proprietary managed account service to 403(b) plans.
Reportedly, the service, known as Mainspring Managed, is a goal-based retirement savings and investment plan developed, implemented and managed by The Standard. Previously, Mainspring Managed was offered only to participants in The Standard’s 401(k) plans.
Scott Hibbs, vice president of The Standard’s Asset Management Group, said: “We are excited to offer our Mainspring Managed service to 403(b) plans. The service helps participants reach their retirement income goals and provides the comprehensive fiduciary support that 403(b) plan sponsors need in today’s environment.”
The service also allows for an investment advisor to select the core fund line-up for the managed portfolios.
StanCorp Financial Group, through its subsidiaries provides group and individual disability insurance, group life, AD&D, vision and dental insurance, retirement plans products and services, individual annuities and investment advice.