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System and method for guaranteeing minimum periodic retirement income payments using an adjustment account

  • US 20020194098A1
  • Filed: 02/27/2002
  • Published: 12/19/2002
  • Est. Priority Date: 06/08/2001
  • Status: Active Grant
First Claim
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1. A system for providing a user with a plurality of guaranteed minimum retirement income payments, comprising:

  • a variable immediate annuity module to receive an income generating payment and to output a periodic retirement income payment amount wherein the periodic retirement income payment amount is greater than, equal to, or less than a guaranteed minimum periodic retirement income payment amount if the income generating payments received are received according to a predetermined payment schedule, and wherein the guaranteed minimum periodic retirement income payment amount is defined by the user; and

    an adjustment module for comparing the periodic retirement income payment amount and the guaranteed minimum periodic retirement income payment amount, and for outputting to the user at least the guaranteed minimum periodic retirement income payment amount, the adjustment module storing a balance in an adjustment account if the periodic retirement income payment amount is less than the guaranteed minimum periodic retirement income payment amount.

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