Patent ID: 7877306

Claim:
A data processing system for administering a deferred variable annuity contract during the accumulation phase, the annuity contract having a payment base value, a contract value, and lifetime benefit payments for a relevant life, said system comprising: a storage device having data relating to: the annuity contract, the payment base value, the contract value, and the lifetime benefit payments; and a processor operatively coupled to the storage device to read said data relating to: the payment base value, the contract value, and the lifetime benefit payments, the storage device storing modules utilized by the processor: for calculating the payment base, for calculating the contract value, for calculating a withdrawal percent relationship that provides a particular withdrawal percent for each respective completed year since the purchase date of the contract, and for calculating a maximum available lifetime benefit payment having a value based on a product of the withdrawal percent and the payment base; wherein lifetime benefit payments do not decrease the payment base if the lifetime benefit payments during a year are not more than the maximum available lifetime benefit payment.