What does PRO do?
PRO is a simplified way for employees to receive personalized, professional management of their employer-sponsored retirement plan investments as well as additional savings and drawdown advice to accomplish their retirement goals.
How does PRO work?
- PRO considers each employee’s profile data to create a portfolio designed specifically to help achieve their retirement income goals.
- Using a tailored mix of global equity and fixed income funds advised by Fisher Investments, PRO invests the participant’s savings according to their recommended plan.
- If the employee desires, they can provide additional household details and adjust their retirement savings goals to help PRO further personalize their investment strategy.
- PRO helps each participant see if they are on-track for retirement and provides a suggested salary deferral rate to assist them in reaching their retirement savings goals.
Why is PRO beneficial to your plan?
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Personalization |
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Professional Investment Management |
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Automatic Adjustments and Ongoing Oversight |
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Increased Financial Confidence |
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Flexible Design and Implementation |
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Education and Engagement Support |
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Fiduciary Support and Reporting |
Comparing Default Investment Options: PRO vs TDFs
Consideration Factors |
Target Date Funds |
PRO* |
|---|---|---|
| Age | ||
| Salary | ||
| Savings Rate | ||
| Account Balance | ||
| State Income Tax Rate | ||
| Gender | ||
| Pension Income | ||
| Spouse Age, Income & Savings | Optional | |
| Outside Investments | Optional | |
| Other Income Sources | Optional | |
| Customized Income Goals | Optional |
Here’s what each of these factors allow us to do:
- Age – Gauge participant’s investment time horizon
- Salary – Estimate participant’s retirement income goal and projected Social Security benefits
- Savings rate – Calculate the impact of contributions on the growth of participant’s account
- Account balance – Gauge how close a participant is to their goal
- State income taxes – Estimate how a participant’s state of residence will impact their after-tax retirement income
- Gender – Estimate a more accurate life expectancy
- Pension income – Understand income sources and potential cost-of-living adjustments
- Spouse age, income & savings – Understand the household financial picture for a more complete analysis of the participant’s needs
- Outside investments – Calculate any balances outside of the participant’s workplace retirement plan
- Other income sources – Estimate the potential impact of a second job or rental income on the participant’s target retirement income
- Other pertinent plan information (as applicable) – Incorporate other plan-specific features that could impact a participant’s retirement goals (i.e., profit sharing, employee stock ownership plans, company matching provisions, vesting and tenure-related provisions, etc.)
* Some factors may not be available in all situations
Contact Us
If you’d like to find out more about how you can help better prepare your employees for retirement, please reach out to us.