Patent ID: 8224732

Claim:
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 displaying and allowing the participant to select a plan choice within those choices determined to be acceptable or defaulting the participant into a plan choice; and 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.