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UNBIASED RESOURCE SUSTAINABILITY LONGEVITY AGE™

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Fair URSLA™   
 
URSLA is a standardized measurement held to defined mathematical and scientific standards as identified and documented by Fair URSLA, a not-for-profit consumer protection organization. Fair URSLA was created to insure the measurement of the URSLA for retirement planning is based on thorough, fair and unbiased scientifically developed data, procedures and data processing. Software meeting URSLA standards are granted one of 5 ratings – each rating defining the level of compliance achieved by the retirement software product or service. These ratings are:   UNRATED, POOR, FAIR, COMPLIANT and MEETS & EXCEEDS   
What constitutes UNBIASED?
To be considered UNBIASED and meeting Fair URSLA standards for measurement, software needs to pass first level benchmarks as defined below:
1. The firm developing and providing the consumer software must be independent from sale of investment products or investment management services.
2. The underlying analysis must meet standards as proposed in the FAIR RETIREMENT REPORTING ACT OF 2011.
3. Probability of retirement resources lasting to the URSLA must be at least 90%.
4. The program must include an analysis of variables that are common to most Americans- including the impact of debt, effects of spending, extending date of retirement, long term care needs, equity in home (total listing as determined by advisory board of experts) and other variables as decided by Fair URSLA advisory board.
5. The program must also include a way to measure the impact of inflows and outflows which will impact the longevity of a person’s URSLA score.

6. The program must interlink historical data in a way that does not skew results and must run at least 1000 lifetimes using scientifically proven analytical methods to provide individuals with one resulting URSLA by which they can see the impact of changing future patterns, habits and financial decisions to increase resource longevity.

 
The purpose of Fair URSLA as stated in their corporate charter*: 
  
–    To serve as a consumer protection organization holding standards for unbiased, integrated software to allow for an easy understanding of where a person stands regarding their financial resource longevity.
 –    To safeguard the use of a single number in allowing individuals to find financial clarity regarding retirement predictions
–     To evaluate software as to the unbiased nature of software data inputs and resulting analysis. To scrutinize and measure software program intent and validity.  To measure  the integrity of data vs. intent to steer individuals to purchase any product or service 
–     To analyze how the resulting analysis is linked with historically accurate data
–     To insure the inclusion of important strategies and product/service variables that are standard to the daily financial habits and practices of middle class Americans
–     To determine how data is linked and how variables are stacked or randomized as to provide accurate analysis regarding resource longevity
–     To measure the process used to provide unbiased generic analytical integration of strategies, products or services which are offered by financial professionals to extend financial resource longevity. 
–     To  continually update evaluation and rating qualifications of software models – continually analyzing and determining which strategies, generic products and services need to be added and integrated into URSLA analysis as new programs and services are developed by to solve economic needs of the public.
–     To receive and pass along consumer input regarding the need for specific strategies and services needing to be developed to address the economic needs of the average American.  
–     To work closely with experts in various financial fields to continually evaluate how the integration and diversification of strategies and services can increase the longevity of the average American’s financial resources.
 *purpose is not limited to the list provided

Encouraging the Financial Industry to raise to the call - endorsing high standards for retirement software

 

Fair URSLA was founded to serve in the task of defining and holding high standards for retirement planning software.  It is  committed to educating organizations and individuals as to the need for reliable, unbiased and historically accurate data standards to protect the public from unethical or uneducated financial professions using data to sell products. 

Financial professionals and organizations are encouraged to endorse and actively encourage decisionmakers to set benchmarks and endorse a way for all people to be able to communicate easily about retirement.   URSLA is that easy communication concept.  Software measuring specific variables combined and integrated to reflect reality for the average person is what is needed to help the public stop financial confusion.  

Fair URSLA is committed to convincing software providers to meet and exceed the standards called for in our public endorsement and they are also encouraged to give deep discounts on products which measure URSLA. Fair URSLA calls for the establishment of a pool of money put aside to advance financial literacy and individual and collective financial freedom.  

Fair URSLA is dedicated to the vision of increased standards for Software which provides Retirement Planning Advice.   To this end one of its goals is to provide an incentive to the software industry for the advancement of software which allows individuals to quickly, easily and accurately assess their URSLA.   In 2011- 2012, Fair URSLA will seek grant monies to sponsor an annual award of excellence in software development. With this funding, the following will be awarded: 
Software developed to URSLA standards and providing additional features and benefits for the consumer are eligible to receive the Fair URSLA Award of Excellence – a yearly award to encourage the development of new and improved retirement planning software built to help average Americans on the URSLA number.