System and method for imbedding a defined benefit in a defined contribution plan

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• (a) being withdrawn at any time, and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, and
• increasing the income payment for life for excess performance over the retirement income factor of the designated defined benefit investment option.