The Standard 401(k)

Whether you are a solo employee or work for a large employer, you should focus on stashing part of your paycheck for your retirement. One of the 401(k) providers you can use to save for retirement is The Standard 401(k). Let’s unpack everything you need to know about this 401(k) provider and the investment options it provides.

Once you enroll for The Standard 401(k) plan, you can access your 401(k) account online to manage your account and monitor your investments. The online platform is available for various devices either through the web portal or mobile app. This plan allows you to choose from a range of diversified investment options, from stocks to mutual funds.

Who is the Standard 401(k) Plan Provider?

The Standard is a popular 401(k) provider in Portland, Oregon. You can connect with them directly at www.standard.com. The company offers a wealth of financial services alongside its tailored retirement solutions and recordkeeping services.

The Standard is a larger group of companies, and also includes The Standard Life Insurance Company of New York and Standard Insurance Company, though they don’t offer their retirement policies through those companies.

What the Standard 401(k) Plan Offers 

Enrolling in The Standard 401(k) plan gives you access to various features.

Investment options

As with all solid 401(k) plans, the Standard 401(k) Plan allows you to choose from a variety of investment options. Diversification and risk management are important any time you are dealing with stocks, so this is a great feature.

Spreading your investments over several asset classes helps to offset market volatility and ensure your retirement income has room to grow. The Standard 401(k) has everything from mutual funds and stocks to annuities on offer, allowing you to choose investment options based on your age and risk tolerance.

401(k) fees

You should also consider what you will pay in fees. Remember, it is the cumulative power of compound interest over time that will do the most to grow your retirement money. All plan providers charge for their time and expertise, of course, but you want to keep those fees minimal.

Common 401(k) fees charged on 401(k) retirement assets include monthly or yearly admin fees, initial plan setup fees, and fees to offset reporting and record-keeping. If the portfolio is managed, there will be additional investment management fees. 

Currently, the Standard 401(k) Plan fees range between 0.5% and 2%, which is the market average, depending on the options you take. Depending on the size of your 401(k) investments, these fees will be significantly lower compared to the returns you earn.

Employer match

The Standard 401(k) is a plan sponsor, and it allows employers to offer an employer matching program to their employees. Employer matching programs are usually determined by the individual employers and may vary based on contribution levels, matching percentage, vesting schedules, and other details.

How do I manage my standard 401(k) plan?

You can use the Standard 401(k) Plan online platform to maintain your 401(k) plan. When you sign up for The Standard 401(k), you will be required to create a username and password, which you will use to access your 401(k) plan and manage your plan. You can also manage your investments and update the list of beneficiaries as needed.

How to get help with the Standard 401(k) plan

If you need help with the Standard 401(k) plan, you may have several options:

Customer Support

The Standard 401(k) Plan offers phone support (800-858-5420), email, and live chat. They also offer a help center that answers many customer questions. Users report generally good satisfaction with the customer service they receive.

Resources

You will find a knowledge base on the Standard 401(k) Plan website that will help you with the basics of getting started with investing in 401(k)s. They also offer a wealth of tools, like retirement calculators, which will help you make smart decisions for your retirement.

How does the Standard 401(k) Plan compare to other 401(k) providers

The Standard 401(k) Plan has some robust and appealing features that compare well with its major competitors. However, the retirement industry is a crowded space, and there are plenty of offerings that make each 401(k) provider different.

Be sure to consider the following factors when choosing your plan:

• Trust Factors: While The Standard 401(k) Plan isn’t as popular as Fidelity and Vanguard, the company has a growing popularity and has a solid trust rating.
• Investments Offered: Be sure to compare the investment options and vehicles you have for any 401(k) plan, and make sure they align with your risk tolerance and other needs
• Fees: We went in-depth into fees above, but remember- you don’t want to waste a dollar more than you have to on investment costs, to maximize your retirement savings
• Account Tools: The Standard 401(k) Plan offers various online tools, including a web portal, mobile app, several customer service channels, and some helpful resources and tools. If you need help with your 401(k) plan, you can contact The Standard 401(k) plan via phone, email, or live chat.

The Standard 401(k) Plan is a solid offering in the retirement space and even allows for employer matching on your contributions. It is a robust and trusted 401(k) provider, and it offers a fantastic way to take control of your future retirement planning.