Patent ID: 8224732
Filing Date: 2012-07-17
Classification: G06Q

Abstract:
1. A computer implemented method of limiting a plan sponsor's fiduciary liability exposure comprising: administering a psychometric test to a plan participant via a display and input device to determine understanding of potential risks and rewards of plan choices under an ERISA or non-ERISA plan offered by the plan sponsor; scoring the psychometric test to obtain a test score; mapping the test score to plan choices involving acceptable levels of risk and reward, based upon knowledge and capabilities demonstrated by the test; creating an array of plan choices based upon the plan participant's level of measured knowledge and/or capabilities demonstrated by the test; allowing intervention or action as a result of the psychometric test score; limiting plan sponsor fiduciary liability by executing via the computer, business transactions to make plan selections consistent with those options permissible based upon said test score and said plan participant selection.