Apparatus and method for creating a retirement medical program through a profit sharing plan and a pension plan retiree health account
OwnerTimothy J Luedtkeinventor
Life of this patent
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Abstract
An apparatus and method of using the apparatuse. The method includes: controlling a computer system comprising a digital computer processor to process input data into output data, the processor in communication with an input device, to receive the input data, and to an output device, to output the output data, the processor programmed so as to facilitate managing a dual purpose profit sharing plan cooperating with a pension plan such that money in an incidental account of the dual purpose profit sharing plan funds a retiree health account of an employee of an employer, and money in another account of the dual purpose profit sharing plan funds pension plan retirement income benefits of the employee.
Claims27
A method of using an apparatus, the method including the steps of:
- controlling a computer system comprising a digital computer processor to process input data into output data, the processor in communication with an input device, to receive the input data, and to an output device, to output the output data, said processor programmed so as to facilitate managing a dual purpose profit sharing plan cooperating with a pension plan such that money in an incidental account of the dual purpose profit sharing plan funds a retiree health account of an employee of an employer, and money in another account of the dual purpose profit sharing plan funds pension plan retirement income benefits of the employee, by operations including:
- receiving, as some of the input data at the input device, a limit to money contributed to the incidental account of the dual purpose profit sharing plan, the limit corresponding to one of:
- a level amount that would be contributed over a working life time of the employee to fund the retiree health account,
- a level percentage of salary that would be contributed over a working life time of the employee to fund the retiree health account, or
- a percentage of an aggregate cost of the employer allocated to fund the retiree health account;
- receiving, as some of said input data at the input device, data representing money to be contributed to the dual purpose profit sharing plan;
- determining from the input data an amount of contribution to the incidental account of the dual purpose profit sharing plan that the one of the limits is not exceeded;
- and
- producing, as some of said output data at said output device, said amount of contribution.
Apparatus to facilitate managing a dual purpose profit sharing plan cooperating with a pension plan, the apparatus including:
- a computer system comprising a digital computer processor to process input data into output data, the processor in communication with an input device, to receive the input data, and to an output device, to output the output data, said processor programmed so as to facilitate managing a dual purpose profit sharing plan cooperating with a pension plan such that money in an incidental account of the dual purpose profit sharing plan funds a retiree health account of an employee of an employer, and money in another account of the dual purpose profit sharing plan funds pension plan retirement income benefits of the employee, by operations including:
- receiving, as some of the input data at the input device, a limit to money contributed to the incidental account of the dual purpose profit sharing plan, the limit corresponding to one of:
- a level amount that would be contributed over a working life time of the employee to fund the retiree health account,
- a level percentage of salary that would be contributed over a working life time of the employee to fund the retiree health account, or
- a percentage of an aggregate cost of the employer allocated to fund the retiree health account;
- receiving, as some of said input data at the input device, data representing money to be contributed to the dual purpose profit sharing plan;
- determining from the input data an amount of contribution to the incidental account of the dual purpose profit sharing plan that the one of the limits is not exceeded;
- and
- producing, as some of said output data at said output device, said amount of contribution.
Dependencies are inferred from the claim text.