Patent ID: 8396774

Claim:
A data processing system, comprising: one or more processors; and one or more memory devices communicatively coupled to the one or more processors storing: data representing an annuity account, the annuity account comprising: an account balance that varies over time; and one or more investments selected from a plurality of selectable investments; data representing the account balance of the annuity account as determined on a recurring first periodic basis within a recurring second periodic basis, where the recurring first periodic basis has a periodic interval of at least seven days, wherein the recurring second periodic basis is longer than the recurring first periodic basis; data representing a particular limit; data representing a step-up value; and logic configured, when executed by the one or more processors, to: calculate one or more fees for: a first guarantee entitling a beneficiary to monetary transfers from the annuity account for a duration of time extending for at least the life of a designated party, wherein each monetary transfer is either due to a withdrawal from the annuity account or due to benefit payments made to the beneficiary from the annuity account, and wherein the benefit payments vary in amount if the withdrawals from the annuity account exceed the particular limit; and a second guarantee that on the recurring second periodic basis the particular limit will be stepped-up to equal the step-up value if the step-up value is greater than the particular limit; and wherein one or more of the first and second guarantees comprise a definition of the particular limit and a definition of a specified percentage; repeatedly store on the recurring first periodic basis the account balance of the annuity account; repeatedly determine on the recurring second periodic basis the step-up value by multiplying factors together, the factors comprising: the defined specified percentage; and the highest of the stored account balances of the annuity account as stored on the recurring first periodic basis within the recurring second periodic basis; repeatedly determine on the recurring second periodic basis the greater of the particular limit and the step-up value; in response to a determination that the step-up value is greater than the particular limit, step up the particular limit in part by modifying the data representing the particular limit to a value indicative of the determined step-up value; and process one or more of the monetary transfers to the beneficiary.