System And Method For A Computer Implemented Retirement Plan
OwnerThomas L. Totteninventor
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Abstract
A system and method for a computer implemented retirement plan directing inputs to defined benefit and defined contribution components whereby an employee or beneficiary is provided a single income stream, wherein comprising time phase shifted or stacked payout of the defined contribution balance from retirement to a predefined date, followed by payments by the defined benefit component from the predefined date until the death of the employee or beneficiary.
Claims12
A computer implemented retirement system comprising:
- a) A first server for automatically generating electronic requests for at least two monetary inputs from at least one client computer, the monetary inputs including at least a defined benefit input and a defined contribution input;
- and
- b) a second server receiving an automated demand for benefit payments to a beneficiary, wherein the second server generates a signal for a single income stream including time phased defined benefit and defined contribution payout components.
A computer-implemented method for use with a computer of the type used to administer an employer-sponsored retirement plan, comprising the steps of:
- a) automatically calculating at least defined benefit and defined contribution components so as to fund a single income stream;
- b) generating at least one contribution request signal to a client computer to obtain defined benefit and defined contribution inputs;
- c) automatically directing the formation of an annuity in response to the defined benefit contribution input;
- and
- d) automatically directing at least one 3rd party server so as to generate the output of the single income stream, the single income stream comprising time phased defined benefit and defined contribution payout components.
Dependencies are inferred from the claim text.