Patent ID: 7890402

Claim:
A data processing system for administering a deferred variable annuity contract during the accumulation phase, the annuity contract including a payment base, a contract value, and lifetime benefit payments for a relevant life, said system comprising: a storage device including data relating to: the payment base, the contract value, a withdrawal percent relationship, a withdrawal percent, the lifetime benefit payments, and the annuity contract; and a processor operatively coupled to the storage device to read said data, the storage device storing modules utilized by the processor for: calculating the payment base, calculating the contract value, calculating the withdrawal percent relationship, and calculating a lifetime benefit payment; and wherein a maximum available lifetime benefit payment is calculated using the following formula: ((withdrawal percent)×(withdrawal base)×(adjustment factor)); wherein the adjustment factor is at least 1 and is determinable at a time of a lifetime benefit payment withdrawal request based on (1) a period of deferral from a time the lifetime benefit payment withdrawal was first available until a first lifetime benefit payment withdrawal request; and (2) a period of time since the first lifetime benefit payment withdrawal request; wherein withdrawals do not decrease the payment base when the withdrawals during a year are not more than the maximum available lifetime benefit payment.