Patent ID: 6235176
Filing Date: 2001-05-22
Classification: G06Q

Abstract:
A method for using a digital electrical apparatus to compute coverage amounts and calculate coverage costs, individually, for participant accounts of a retirement plan qualified under Internal Revenue Code Section 401(a) for signal processing), the method including:providing the digital electrical apparatus comprising a first digital electrical computer having a processor, the processor electrically connected to store and receive electrical signals at a memory device, to receive input electrical signals corresponding to input information from an input device, to convert output electrical signals into output information at an output device, the processor programmed to control the first digital electrical computer to receive the input electrical signals and to process the input electrical signals to produce the output electrical signals in computing coverage amounts and calculating coverage costs, individually, for participant accounts of a retirement plan qualified under Internal Revenue Code Section 401(a);inputting information at the input device, the input information including respective amounts of contribution to the individual accounts of the participants in retirement plan qualified under said Internal Revenue Code Section 401(a);computing with said processor a respective coverage amount for each of the accounts by using the amounts of contribution in accordance with terms of the retirement plan and in compliance with said Internal Revenue Code Section 401(a);processing the input electrical signals to compute a corresponding coverage cost for each of the accounts by using the coverage amounts in accordance with terms of the retirement plan and in compliance with said Internal Revenue Code Section 401(a); andgenerating the output information at the output device, the output including the coverage amounts and the coverage costs.