How would you react if the star manager for your plan’s only fixed income option left his firm? How would you address inadequate savings in your DC plan? Your DB plan has dropped to a 70% funded status — now what?
These questions — and many others — are faced by plan sponsors, fiduciaries and their advisors on a regular basis. And now there’s a gamification tool to help them think through their options.
Russell Investments has put together an intriguing online scenario builder that deals with those kind of decisions. With the free (and anonymous) tool, you can play through five different scenarios as fiduciaries managing up to five types of assets: non-profit, corporate pension, union/ government pension, hospital/ health system and defined contribution.
At the end, you get a non-scientific analysis of your decision-making “type” — and information on how Russell Investments might handle similar situations (hey, it’s their game, after all). The quiz works on all internet browsers and is also mobile and tablet compatible.
Whether you agree with their analysis or not, the tool is intriguing, the questions thought-provoking, and the process one worth thinking through before you’re actually faced with one of these dilemmas.
