SYSTEM AND METHOD FOR INCENTIVIZING RETIREMENT SAVINGS

• US 20130013478A1
• Filed: 07/06/2012
• Published: 01/10/2013
• Est. Priority Date: 07/08/2011
• Status: Abandoned Application

• Current Assignee: Jonathan Broadbent
• Original Assignee: Jonathan Broadbent
• Inventors: Broadbent, Jonathan
• Application Number:
  US13/543,368
• Publication Number:
  US 20130013478A1
• Time in Patent Office: Days
• US Class Current: 705/35
• CPC Class Codes: G06Q 40/06 Asset management; Financial planning or analysis

Abstract

Systems and methods are provided to facilitate incentivization for participation in a financial plan, such as a retirement savings plan. Incentives are provided to encourage increased contribution and activity with the financial plan, with the goal of accumulation of enough assets to ensure future financial security, such as provision of adequate retirement income. Incentives can be provided by third party providers such as coupons, merchandise, services, etc. In return for provision of such incentives, third party providers can receive data, etc., in return, where the data can provide information on who is using their incentive, etc., which the third party provider can utilize as part of a marketing operation, for example. Hence the costs of the incentives are offset by the data provided.

Claims

1. A method, comprising:

identifying a reward applicable for association with a defined level of contribution of a financial plan;

defining a rule for establishing the defined level of contribution of the financial plan has been met;

determining the rule for the defined level of contribution has been satisfied; and

providing, in response to determining the rule has been satisfied, the reward.

2. The method of claim 1, further comprising capturing data associated with a recipient of the reward.

3. The method of claim 2, further comprising identifying a provider of the reward.

4. The method of claim 3, further comprising forwarding the data associated with the recipient of the reward to the provider of the reward.

5. The method of claim 1, wherein the financial plan is a retirement plan.

6. The method of claim 1, further comprising associating a unique identifier with the reward facilitating tracking of the reward.

7. The method of claim 6, further comprising utilizing the reward unique identifier to associate the recipient of the reward with the reward.

8. The method of claim 7, further comprising forwarding the reward unique identifier and data associated with the participant to a provider of the reward.

9. The method of claim 8, wherein the provider of the reward provides at least one of a product or service upon receipt of the reward.

10. A system comprising:

A rewards program system configured to;

receive from a third party provider system a reward;

receive from a plan provider system information regarding a financial plan offered by the plan provider system and a level of contribution associated with the financial plan;

associate the reward with the contribution level;

determine a criteria associated with the contribution level; and

forward, in response to the criteria being fulfilled, the reward to a recipient associated with fulfillment of the criteria.

12. The system of claim 10, wherein the rewards program system is further configured to receive data associated with the recipient.

13. The system of claim 12, wherein the rewards program system is further configured to generate a unique identifier to facilitate identification of the reward.

14. The system of claim 13, wherein the rewards program system is further configured to associate the reward unique identifier with the data associated with the recipient.

15. The system of claim 14, wherein the rewards program system is further configured to forward the unique identifier and the data associated with the recipient to the third party provider system.

16. A system, comprising:

a processor;

a computer-readable non-transitory storage medium operationally coupled to the processor and storing computer executable instructions, the computer executable instructions, in response to execution by the processor, implement operations, comprising;

identifying a reward applicable for association with a defined level of contribution of a financial plan;

defining a rule for establishing the defined level of contribution of the financial plan has been met;

determining the rule for the defined level of contribution has been satisfied; and

providing, in response to determining the rule has been satisfied, the reward.

11. The computer-readable non-transitory storage medium of claim 16, the operations further

17. The computer-readable non-transitory storage medium of claim 16, the operations further comprising capturing data associated with a recipient of the reward.

18. The computer-readable non-transitory storage medium of claim 17, the operations further comprising identifying a provider of the reward.

19. The computer-readable non-transitory storage medium of claim 18, the operations further comprising forwarding the data associated with the recipient of the reward to the provider of the reward.

20. The computer-readable non-transitory storage medium of claim 18, wherein the financial plan is a retirement plan.