Patent ID: 8396770

Claim:
A system for managing an investment plan fund account in accordance with one or more agreements entered into between a plan administrator and an individual investor, said system comprising: a data entry device; one or more databases storing: a. data describing one or more terms of said one or more agreements; b. data specifying the birth date of said individual investor; c. actuarial data indicative of a current life expectancy of said individual investor; d. financial market data including current interest rates; e. data indicative of one or more costs of creating and managing said investment plan fund account; f. data indicative of profit and reserving requirements to be paid from said investment plan fund account; and g. data that specifies accumulated benefits payable to said individual investor by each of a sequence of individual immediate annuities purchased by or on behalf of said individual investor pursuant to said one or more agreements; and a processor coupled to said one or more databases and to said data entry device for maintaining said account by: a. periodically processing data from said one or more databases to calculate and make available to said individual investor a stated current purchase price of a currently offered individual immediate annuity that will entitle said investor to receive periodic annuity benefit payments in amounts and at times designated by one or more terms of said currently offered individual immediate annuity; b. accepting over time from said data entry device a sequence of input values each indicating an amount deposited into said investment plan fund account by or on behalf of said individual investor at a time chosen by said individual investor; c. in response to the acceptance of each such input value, determining and recording in said account the annuity amounts and payment times of the annuity benefit payments to be paid to said individual investor under the terms of said currently offered individual annuity purchased by or on behalf of said individual investor in consideration for the deposited amount; and d. periodically calculating a combined annuity benefit payment currently payable to said individual investor by a combination of individual annuities previously purchased by said investor.