Patent ID: 7996291

Claim:
A data processing system for administering an annuity product, the annuity product having a base contract value, and a guaranteed minimum interest rate, said system comprising: a storage device having data relating to the annuity product, the base contract value, the guaranteed minimum interest rate, and a consumer price index; and a processor operatively coupled to the storage device said processor configured to read said data relating to the annuity product, the base contract value, the guaranteed minimum interest rate, and the consumer price index, the processor configured to: access data indicative of the base contract value, access data indicative of the value of the guaranteed minimum interest rate, access data indicative of the consumer price index at the issue of the annuity product and setting the consumer price index value as the base consumer price index; determine an amount of a guaranteed interest payment for crediting to the present contract value, the determining based on the present contract value and the guaranteed minimum interest rate; determine a difference between the prior period consumer price index and the present consumer price index; and based on the difference between the prior period consumer price index and the present consumer price index, determine a value of a bonus for crediting to the present contract value.