Patent ID: 6161096
Filing Date: 2000-12-12
Classification: G06Q

Abstract:
A method for identifying and administering a deferred award instrument plan in order to reduce individual income and estate taxes implemented through a computer system, said method comprising the steps of:identifying at least one employee for an employer in said deferred award plan;retrieving financial data related to stock options corresponding to said identified employee;computing a spread associated with said retrieved stock options;establishing a rabbi trust with said spread;determining whether an individual life insurance policy has been purchased by said employee;enabling under control of said employer said employee to purchase stock or other investments through said purchased life insurance policy;determining whether a split dollar agreement has been executed;monitoring whether said employer has paid at least one premium for said individual life insurance policy;notifying said employee that a payment associated with said life insurance policy has been paid;allowing said employee to borrow funds accumulated in said life insurance policy up to a limit set forth in said split dollar agreement, said limit reflecting said employee's stock options; andreporting to said employee an amount of tax savings;representing said deferred award instrument plan by:inputting models factors based on actual performance;retrieving human resource data;retrieving stock option data;retrieving fair market value information relating to said stock option data;computing company cost and length of program; andstoring said retrieved and computed data.