System and method for imbedding a defined benefit in a defined contribution plan
First Claim
1. A computer processing system for providing a user with a defined benefit within a contribution plan, based on a retirement income factor that indicates the exact guaranteed minimum periodic income that the user will receive regardless of how long the user lives and the potential for an increase in the periodic income based on excess investment performance, over the retirement income factor, of the designated defined benefit investment options, the system comprising:
- a computer processor that periodically receives a contribution and for accumulating value over a period of time by investing the contribution or any portion(s) thereof in any number of select investment option(s), the accumulated value, or any portion(s) thereof, being capable of at least one selected from the group consisting of;
(a) being withdrawn at any time, and(b) being paid out after a predetermined period of time; and
the computer processor constituted by a tangibly embodied programmed computer processor, within the computer processing system, which communicates with the user via a network; and
wherein the selected investment options comprise any number of investment products and at least one designated defined benefit investment option module for;
receiving at least one investment payment from the computer processor, the investment payment comprising at least one of the contribution and/or the accumulated value, or any portion(s) thereof,paying out a guaranteed minimum income payment after the accumulation period of time, the guaranteed minimum income payment being based on the retirement income factor, andincreasing the income payment for life for excess performance over the retirement income factor of the designated defined benefit investment option.
2 Assignments
0 Petitions
Accused Products
Abstract
A system and method comprises a defined contribution module for periodically receiving contributions and for accumulating value over a period of time by investing at least one of the contributions, the accumulated value being capable of: (1) being withdrawn at any time and reinvested, and (2) being paid out after a predetermined period of time; and wherein select investment options comprises investment products and at least one designated defined benefit investment option module for: (1) receiving at least one investment payment from the defined contribution module, the investment payment comprising at least one of the contributions and/or the accumulated value, (2) for paying out a guaranteed minimum income payment for life, after the predetermined period of time, based on a retirement income formula, and (3) increasing the income payment for life for excess performance over the formula.
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Citations
12 Claims
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1. A computer processing system for providing a user with a defined benefit within a contribution plan, based on a retirement income factor that indicates the exact guaranteed minimum periodic income that the user will receive regardless of how long the user lives and the potential for an increase in the periodic income based on excess investment performance, over the retirement income factor, of the designated defined benefit investment options, the system comprising:
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a computer processor that periodically receives a contribution and for accumulating value over a period of time by investing the contribution or any portion(s) thereof in any number of select investment option(s), the accumulated value, or any portion(s) thereof, being capable of at least one selected from the group consisting of; (a) being withdrawn at any time, and (b) being paid out after a predetermined period of time; and the computer processor constituted by a tangibly embodied programmed computer processor, within the computer processing system, which communicates with the user via a network; and wherein the selected investment options comprise any number of investment products and at least one designated defined benefit investment option module for; receiving at least one investment payment from the computer processor, the investment payment comprising at least one of the contribution and/or the accumulated value, or any portion(s) thereof, paying out a guaranteed minimum income payment after the accumulation period of time, the guaranteed minimum income payment being based on the retirement income factor, and increasing the income payment for life for excess performance over the retirement income factor of the designated defined benefit investment option. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11)
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12. A computer processing system for providing a user with a defined benefit within a contribution plan, based on a retirement income factor that indicates the exact guaranteed minimum periodic income that the user will receive regardless of how long the user lives and the potential for an increase in the periodic income based on excess investment performance over the retirement income factor of the designated defined benefit investment options, the system comprising:
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a computer processor that periodically receives a contribution and for accumulating value over a period of time by investing the contribution in any number of select investment options, the accumulated value, or any portion(s) thereof, being capable of at least one selected from the group consisting of; (a) being withdrawn at any time, and (a) being paid out after a predetermined period of time; and the computer processor constituted by a tangibly embodied programmed computer processor, within the computer processing system, which communicates with the user via a network; and wherein the selected investment options comprise any number of investment products and at least one designated defined benefit investment option module for; receiving at least one investment payment from the defined contribution module, the investment payment comprising at least one of the contribution and/or the accumulated value, or any portion(s) thereof, for paying out a guaranteed minimum income payment after the accumulation period of time, the guaranteed minimum income payment being based on the retirement income factor, and increasing the income payment for life for excess performance over the retirement income factor of the designated defined benefit investment option.
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Specification