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US Patent 5878405 - Pension planning and liquidity management system
US Patent Issued on March 2, 1999
Estimated Patent Expiration Date:
September 25, 2016Estimated Expiration Date is calculated based on simple USPTO term provisions. It does not account for terminal disclaimers, term adjustments, failure to pay maintenance fees, or other factors which might affect the term of a patent.
Estimated Patent Expiration Date:
September 25, 2016Estimated Expiration Date is calculated based on simple USPTO term provisions. It does not account for terminal disclaimers, term adjustments, failure to pay maintenance fees, or other factors which might affect the term of a patent.AbstractA pension-based liquidity management data processing system that supports participant decision making and flexibility with respect to loans, contribution rates, and retirement spending. The system utilizes a simple index to communicate the adequacy of current or planned states in the participants separate pension account. Adequacy is determined relative to actuarial determined estimates which may be adjusted by the participant. The system is provided with safeguard yet removes artificial barriers to pension-based liquidity, loans and retiree spending, allowing each participant the maximum flexibility in optimizing his personal retirement and financial plan. The system interfaces with unsecured credit cards as a disbursement and payment mechanism, thereby preventing pension assets from directly securing credit card charges. Central processing allows multiple credit cards to compete for any participant account. The system reduces average unsecured interest rate costs without liquidating long term retirement investments by securitizing the promissory note held in the participants separate. To the extent permissible under the applicable laws, the participant may electronically elect to classify a disbursement as a periodic rather than a loan consistent with periodic spending of retirement assets to support retirement living. The present invention substantially increases the liquidity of pension accounts while providing the participant with the knowledge to protect retirement security. Through improved liquidity and related planning tools, the system enables both employers through matching contributions and employees through elective contributions to increase net contribution rates, thereby enhancing retirement security.Other References
| InventorsAssigneeApplicationNo. 719800 filed on 09/25/1996US Classes:705/39, Including funds transfer or credit transaction705/10, Market analysis, demand forecasting or surveying705/35Finance (e.g., banking, investment or credit)Field of Search705/4, Insurance (e.g., computer implemented system or method for writing insurance policy, processing insurance claim, etc.)705/14, Distribution or redemption of coupon, or incentive or promotion program705/30, Accounting705/36T, Tax strategies705/36R, Portfolio selection, planning or analysis705/38, Credit (risk) processing or loan processing (e.g., mortgage)705/40, Bill distribution or payment705/41, Having programming of a portable memory device (e.g., IC card, "electronic purse")705/39, Including funds transfer or credit transaction705/37, Trading, matching, or bidding705/35, Finance (e.g., banking, investment or credit)235/379, Banking systems235/380, Credit or identification card systems379/91.01Credit authorizationExaminersPrimary: MacDonald, Allen R.Assistant: Kazimi, Hani M. Attorney, Agent or FirmUS Patent References4346442, Securities brokerage-cash management systemIssued on: 08/24/1982 Inventor: Musmanno4648037, Method and apparatus for benefit and financial communication Issued on: 03/03/1987 Inventor: Valentino4718009, Default proof credit card method system Issued on: 01/05/1988 Inventor: Cuervo4858121, Medical payment system Issued on: 08/15/1989 Inventor: Barber , et al.4969094, Self-implementing pension benefits system Issued on: 11/06/1990 Inventor: Halley, et al.5083270, Method and apparatus for releasing value of an asset Issued on: 01/21/1992 Inventor: Gross, et al.5206803, System for enhanced management of pension-backed credit Issued on: 04/27/1993 Inventor: Vitagliano, et al.5231571, Personal financial assistant computer method Issued on: 07/27/1993 Inventor: D'Agostino5323315, Computer system for monitoring the status of individual items of personal property which serve as collateral for securing financing Issued on: 06/21/1994 Inventor: Highbloom5383113, System and method for electronically providing customer services including payment of bills, financial analysis and loans Issued on: 01/17/1995 Inventor: Kight, et al.5457305, Distributed on-line money access card transaction processing system Issued on: 10/10/1995 Inventor: Akel, et al.5465206, Electronic bill pay system Issued on: 11/07/1995 Inventor: Hilt, et al.5496991, Automated remittance system Issued on: 03/05/1996 Inventor: Delfer, III, et al.5504677, Automated payment system Issued on: 04/02/1996 Inventor: Pollin5530232, Multi-application data card Issued on: 06/25/1996 Inventor: Taylor5550734Computerized healthcare accounts receivable purchasing collections securitization and management system Issued on: 08/27/1996 Inventor: Tarter, et al. International ClassG06F 015/30 |
