Patent ID: 7853509
Filing Date: 2010-12-14
Classification: G06Q

Abstract:
1. A computer system for administering an income share plan for providing a future income stream, said system comprising: a processor coupled to a memory, configured to store in the memory, lifetime income share units of guaranteed lifetime income for an individual, each of the units representing an obligation to pay the individual a fixed amount at fixed intervals commencing at a fixed income start date corresponding to a fixed future age of the individual and continuing for a lifetime, the memory further storing the fixed amount, the intervals, and the fixed income start date; the processor further being configured to store in the memory and provide to the individual a price for said lifetime income share units of guaranteed lifetime income, set by a provider of said plan; and the processor further being configured to store periodic or aperiodic contributions by an individual to said plan, said contributions purchasing whole, fractions or multiples of said lifetime income share units of guaranteed lifetime income at said price; the fixed amount being set at the time of the contributions; wherein the fixed amount is a precise and invariable amount set at the time of the contributions.