Method and system for providing employer-sponsored retirement plan
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United States of America Patent
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Apr 23, 2013
Grant Date -
Feb 8, 2007
app pub date -
Jul 18, 2006
filing date -
Jul 19, 2005
priority date (Note) -
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status (Latency Note)
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Abstract
A computer-implemented method of administering income distributions from an employer-sponsored retirement plan having a participant account value provides an option to a plan participant to elect a lifetime payout funded by at least a portion of the participant's account value. The lifetime payout may be funded by a Plan Distributed Annuity (“PDAâ€) or through the plan. An access period may be provided in the latter case, during which a participant maintains access to, and control over, the account.
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