Mich. School Districts Choose The Standard as Single Vendor

Standard Insurance Company, a subsidiary of StanCorp Financial Group, Inc., said it has been selected by a consortium of 15 school districts in southeast Michigan to become their single 403(b) plan provider.

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).