ProManage recalculates participant investment allocations annually and rebalances accounts at the same time.
The timing of the annual recalculation typically occurs around the anniversary of initial PROgram implementation, but a client can request another time.
ProManage may rebalance accounts on an off-cycle basis if participants' investments are significantly missing their target allocations. We have done so only twice in our history: after September 11, 2001 and in Fall 2008. The decision to rebalance is made by our Investment Committee. We welcome client input in the decision of whether to perform an off-cycle rebalance.
Usually allocations are "smoothed" from year to year to prevent large swings toward equity or fixed income due to withdrawals, loans, rollover contributions, and other participant activity.