Eighty percent of
retirement plan participants are frustrated with their
choice between complex advice tools and overly simplistic
calculators, but they want and need guidance in
achieving their retirement goals. K4
Plan Goals was specifically designed to meet this need.
The patented K4 process promotes
participant use by requiring minimal inputs to yield a complete
and
actionable solution. Unlike other tools, K4 Plan Goals
delivers a complete, personalized retirement strategy
without relying on front-end guesswork and solutions by trial
and error. In just one step, it solves for the best combination
of savings rate, portfolio, income and age that achieves
the highest level of both satisfaction and success for
the participant.
promotes participant use -
minimal input, complete answer, with no iterations or guesswork
increases participant buy-in - solves for complete personalized strategy
that promotes action
enhances
participant satisfaction - optimally resolves
conflicts between preferences and success
K4 Plan Goals engages
participants in a straightforward process for retirement
guidance that is easy to understand and use. Not
only are the inputs held to a minimum, the user doesn't have to
pinpoint an exact solution and then see if it will work.
Instead, the user inputs ideal and acceptable
endpoints for their retirement objectives and K4
does the rest. The result is the best combination
that takes into account both the success of the plan and the
participant's preferences.
Solves for income, age, savings, and portfolio simultaneously
With other retirement decision tools,
the participant inputs a best guess for each variable,
getting a probability of success for that strategy and
then changing first one variable and then another until
the probability is satisfactory or until the participant
is frustrated. But using the patented K4
process, K4 Plan Goals solves for the
best combination of the four key retirement variables in
one step. There is no guesswork, no trial and error, and
no confusion about what to do to "fix" the problem. The solution is simple, clear, and compelling.
Optimally resolves conflicts between
preferences and success
As with all complex decisions, there
are tradeoffs between what we would like to do and what
will actually work. A
participant may want to retire at age 60, but that may
prevent achieving an acceptable
probability of success. The K4 process
rigorously resolves these conflicts on the front-end,
incorporating importance weighting for the variables and
a trade-off process that resolves competing objectives.
Exceeds standards for meeting the
needs of participants
Fred Reish, a
leading ERISA attorney, states "our conclusion is that
the services provided by K4 Plan Goals
materially help fiduciaries satisfy the requirements
under ERISA's prudent man rule to consider the needs of
participants and to provide suitable services for
deferrals and investing." He also concludes
that "fiduciaries who use programs such as K4
Plan Goals will have taken appropriate steps to satisfy
ERISA's requirements to help participants with those
decisions."
An innovative decision solution for
participants, service providers and plan sponsors
Retirement plan participants need a guidance tool
that is robust enough to drive action yet engaging
enough to complete with minimal time and investment
knowledge. K4 Plan Goals provides a whole new
approach-- one that acknowledges the participant as
an individual with unique goals and preferences and
also solves for a complete, actionable strategy.
It’s as if every participant has their own personal
planner working with them to find their own unique
solution, but at only a fraction of the cost.
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