Method and system for providing employer-sponsored retirement plan

Method and system for providing employer-sponsored retirement plan

A computer-implemented method of administering income distributions from an employer-sponsored retirement plan having a participant account value provides an option to a plan participant to elect a lifetime payout funded by at least a portion of the participant's account value. The lifetime pay...

Ausführliche Beschreibung

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Bibliographische Detailangaben
Hauptverfasser: HERR DANIEL P, TOTH ROBERT J
Format: Patent
Sprache:eng
Schlagworte:
CALCULATING
COMPUTING
COUNTING
DATA PROCESSING SYSTEMS OR METHODS, SPECIALLY ADAPTED FORADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORYOR FORECASTING PURPOSES
PHYSICS
SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE,COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORY OR FORECASTINGPURPOSES, NOT OTHERWISE PROVIDED FOR
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Beschreibung
Zusammenfassung:A computer-implemented method of administering income distributions from an employer-sponsored retirement plan having a participant account value provides an option to a plan participant to elect a lifetime payout funded by at least a portion of the participant's account value. The lifetime payout may be funded by a Plan Distributed Annuity ("PDA") or through the plan. An access period may be provided in the latter case, during which a participant maintains access to, and control over, the account.