System and method for facilitating management of a financial instrument

US8370179B2 · kind B2 · utility

Assignee

• The Prudential Insurance Company of America · US

Inventors

• Mark J. Foley · Menlo Park, US
• Leonard C. Steiner · Souderton, US

Key dates

• Filing date: Apr 28, 2010
• Grant date: Feb 5, 2013
• Expiry date: Dec 3, 2030

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q40/08
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

A computer-implemented method for facilitating the management of a financial instrument includes determining an account balance for a financial account. The financial account includes an investment portfolio and a springing guarantee of an income base for a retirement income. The retirement income includes periodic monetary transfers to be commenced at a target retirement date. Each periodic monetary transfer has a respective value based on the income base. The springing guarantee of the income base may be activated on an activation date. The account balance is stored in memory of the data processing system. The stored account balance is periodically updated based at least in part on market performance of the investment portfolio. Using a computing system, the activation date is determined based at least in part on the target retirement date and the income base is determined. A respective value is outputted for each one of the periodic monetary transfers. The respective value of each one of the periodic monetary transfers is based on the value of the stored income base at a time proximate the one of the periodic monetary transfers.