SYSTEM AND METHOD FOR EVALUATING DEFINED CONTRIBUTION PLANS
First Claim
1. A method of evaluating a retirement plan, comprising the steps of:
- receiving a plurality of data corresponding to a plurality of retirement plans;
storing the data in memory on at least one web-accessible computer;
determining a subset of the plurality of retirement plans;
comparing characteristics of the selected retirement plan to corresponding characteristics of the subset of the plurality of retirement plans;
selecting at least one report for reporting the comparison of the selected retirement plan to the subset of the plurality of retirement plans; and
automatically generating the selected at least one report.
2 Assignments
0 Petitions
Accused Products
Abstract
A system and method for comparing retirement plans against a selected group of similar plans is disclosed. In one embodiment, a computer system for evaluating a retirement plan comprises a computer server having a database comprising a plurality of data defining a plurality of characteristics of each of a plurality of retirement plans, software configured for identifying a subset of the plurality of retirement plans having characteristics comparable to characteristics of a selected retirement plan, software configured for permitting the selection of at least one report from a plurality of report types, and software configured for automatically generating the selected at least one report, where the at least one report comprises an evaluation of the characteristics of the selected retirement plan against the characteristics of the subset of the plurality of retirement plans.
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Citations
28 Claims
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1. A method of evaluating a retirement plan, comprising the steps of:
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receiving a plurality of data corresponding to a plurality of retirement plans; storing the data in memory on at least one web-accessible computer; determining a subset of the plurality of retirement plans; comparing characteristics of the selected retirement plan to corresponding characteristics of the subset of the plurality of retirement plans; selecting at least one report for reporting the comparison of the selected retirement plan to the subset of the plurality of retirement plans; and automatically generating the selected at least one report. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12)
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13. A computer system for evaluating a retirement plan, comprising:
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a computer server comprising a database, the database comprising a plurality of data defining a plurality of characteristics of each of a plurality of retirement plans; a computer-readable medium encoded with a first computer program executable by a computer for determining a subset of the plurality of retirement plans having characteristics comparable to characteristics of a selected retirement plan; a computer-readable medium encoded with a second computer program executable by the computer for permitting the selection of at least one report; and a computer-readable medium encoded with a third computer program executable by the computer for automatically generating the selected at least one report, wherein the at least one report comprises a comparison of the characteristics of the selected retirement plan against the characteristics of the subset of the plurality of retirement plans. - View Dependent Claims (14, 15, 16, 17, 18, 19, 20)
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21. A retirement plan comparison report, comprising:
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a first data set corresponding to a selected retirement plan; a second data set corresponding to a subset of a plurality of retirement plans, the subset of the plurality of retirement plans determined by identifying characteristics of the selected retirement plan that correspond to at least one factor, and identifying which of the plurality of retirement plans have characteristics corresponding to the at least one factor and which are identical to the identified characteristics of the selected retirement plan or which correspond to a predefined range bracketing the identified characteristics of the selected retirement plan; and a comparison of the first data set against the second data set comprising a comparison of at least one of participant success measures, fees paid, plan design provisions, plan complexity, fiduciary oversight services, fiduciary best practices services, plan-driven services, participant-driven services, timeliness of provided services, and accuracy of provided services. - View Dependent Claims (22, 23, 24, 25, 26, 27, 28)
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Specification