Patent ID: 8732057

Claim:
A system for a portal from which a self-service distribution from a tax-deferred account is initiated, the system comprising: a processor; a computer-readable medium coupled to the processor and storing a plurality of instructions, the processor configured to; authenticate a participant to which the self-service distribution is to be made; provide a series of user interfaces to guide the self-service distribution; provide a financial plan including draw down strategies; receive information regarding an account to which the distribution is to be deposited; determine a distribution type and distribution code; determine if taxes are to be withheld from the distribution; provide the distribution to the participant; instructions that cause the processor to determine if a tax-deferred account related to the participant has been opened longer than a predetermined period of time; disallow the distribution if the tax-deferred account has not been opened for the predetermined period of time; and process a distribution request from the participant based at least in part on determining if a restriction code is applied to the tax-deferred account, wherein the restriction code disallows distributions from the tax-deferred account to the participant.