Patent ID: 8103571

Claim:
A data processing system for processing data associated with a deferred variable annuity contract during the accumulation phase, including data indicative of a payment base value, a withdrawal percent value, and a contract value, and data indicative of a formula, for determining an amount of benefit payments available on a periodic basis in accordance with a guarantee, based on multiplying the payment base value by the withdrawal percent value, said system comprising: a storage device storing data relating to the annuity contract, the stored data comprising data indicative of a present payment base value, a present contract value, a percentage maximum increase in the payment base value and the withdrawal percent value; a processor in communication with the storage device, the processor configured to: compare the present contract value to a present payment base value; responsive to determining that the present contract value is greater than the present payment base value, determine a stepped-up payment base value, the stepped-up payment base value being a lesser of the present contract value and the present payment base value increased by the percentage maximum increase and greater than the present payment base value; store data indicative of the stepped-up payment base value in the storage device; and determine a benefit payment amount available for withdrawal without reducing the payment base value by multiplying the stepped-up payment base value by the withdrawal percent value.