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System for utilizing a retirement score to receive benefits

  • US 10,262,372 B2
  • Filed: 06/11/2018
  • Issued: 04/16/2019
  • Est. Priority Date: 03/20/2015
  • Status: Active Grant
First Claim
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1. A system for utilizing generated retirement scores for benefit presentment, the system comprising:

  • one or more memory devices; and

    one or more processing devices operatively coupled to the one or more memory devices, wherein the one or more processing devices are configured to execute computer-readable program code to;

    perform an assessment of assets and liabilities of a user;

    determine a financial trend of the user based on the assessment, wherein the financial trend is calculated over a past time period;

    transform the financial trend into a retirement score for the user, wherein the retirement score indicates preparedness of the user for retirement at a future predetermined date;

    parse the retirement score into individual scores for each of one or more parameters making up the retirement score including individual scores for asset values, liability values, an estimated rates of return, and financial behavior of the user;

    distribute the parsed retirement score to systems within the financial institution and store the parsed retirement score within a framework of the systems within the financial institution;

    receive communication from one or more of the systems within the financial institution identifying benefits available to the user based on the parsed retirement score;

    augment the retirement score at one or more historic points in time illustrating user utilization of recommended steps at the one or more historic point in time; and

    illustrate, via an interface on a user device, the augmented retirement score over the retirement score for the user along historic points illustrating impact of the recommended steps.

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