Evaluation of financial aspects of a retirement benefit plan

• US 20040039667A1
• Filed: 08/22/2002
• Published: 02/26/2004
• Est. Priority Date: 08/22/2002
• Status: Abandoned Application

• Current Assignee: Winklevoss Technologies LLC
• Original Assignee: Winklevoss Technologies LLC
• Inventors: Tillman, Mark, Strake, Steve, Winklevoss, Howard, Benner, Debbie, Spaide, James, Ruloff, Mark
• Application Number:
  US10/225,853
• Publication Number:
  US 20040039667A1
• Time in Patent Office: Days
• US Class Current: 705/35
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

Abstract

There is provided a method for facilitating an evaluation of a financial aspect of a retirement benefit plan. The method includes determining a set of incremental values between a lower limit value and an upper limit value of a variable relating to the retirement benefit plan, calculating a liability value for each member of the set of incremental values, thus yielding a set of liability values, and storing the set of liability values. The set of liability values is made accessible to an analyzer that receives a hypothetical value for the variable and, based on the hypothetical value, uses a member of the set of liability values to determine a hypothetical liability for the retirement benefit plan.

Claims

1. A method for facilitating an evaluation of a financial aspect of a retirement benefit plan, comprising:

determining a set of incremental values between a lower limit value and an upper limit value of a variable relating to said retirement benefit plan;

calculating a liability value for each member of said set of incremental values, thus yielding a set of liability values; and

storing said set of liability values,

wherein said set of liability values is made accessible to an analyzer that receives a hypothetical value for said variable and, based on said hypothetical value, uses a member of said set of liability values to determine a hypothetical liability for said retirement benefit plan.

2. The method of claim 1, wherein said analyzer performs an actuarial valuation of said retirement benefit plan.

3. The method of claim 1,

wherein said variable has a temporal dimension, and

wherein said determining further comprises determining said set of incremental values over said temporal dimension.

4. The method of claim 3, wherein said analyzer performs a deterministic projection of said retirement benefit plan.

5. The method of claim 3, wherein said analyzer performs a stochastic projection of said retirement benefit plan.

6. The method of claim 1,

wherein said variable includes a dimension representing a number of trials, and

wherein said determining further comprises determining said set of incremental values for said number of trials.

7. The method of claim 1, wherein said analyzer interpolates between members of a subset of said set of liability values when said hypothetical value is not represented in said set of incremental values.

8. The method of claim 1, wherein said variable comprises an actuarial assumption.

9. The method of claim 8, wherein said actuarial assumption is selected from the group consisting of (a) an interest rate for determining a present value of a future benefit, (b) a salary assumption for estimating a future salary for an active member of said plan, (c) a decrement assumption to estimate when a benefit might become payable, (d) a mortality rate for determining an expected length of time a benefit will be paid to a member of said plan, (e) a medical benefit claim cost, and (f) an anticipated future health care trend.

10. The method of claim 1, wherein said variable comprises an experience assumption.

11. The method of claim 10, wherein said experience assumption is selected from the group consisting of a future mortality rate for members of said plan, a disability rate for members of said plan, a termination rate for members of said plan, a retirement rate for members of said plan, and a salary increase for a member of said plan.

12. A system for facilitating an evaluation of a financial aspect of a retirement benefit plan, comprising:

a module for determining a set of incremental values between a lower limit value and an upper limit value of a variable relating to said retirement benefit plan;

a module for calculating a liability value for each member of said set of incremental values, thus yielding a set of liability values; and

a module for storing said set of liability values,

wherein said set of liability values is made accessible to an analyzer that receives a hypothetical value for said variable and, based on said hypothetical value, uses a member of said set of liability values to determine a hypothetical liability for said retirement benefit plan.

13. A storage media for controlling a processor that, in turn, facilitates an evaluation of a financial aspect of a retirement benefit plan, said storage media comprising:

a module for controlling said processor to determine a set of incremental values between a lower limit value and an upper limit value of a variable relating to said retirement benefit plan;

a module for controlling said processor to calculate a liability value for each member of said set of incremental values, thus yielding a set of liability values; and

a module for controlling said processor to store said set of liability values,

wherein said set of liability values is made accessible to an analyzer that receives a hypothetical value for said variable and, based on said hypothetical value, uses a member of said set of liability values to determine a hypothetical liability for said retirement benefit plan.