| 主权项 |
1. A computer-implemented method for providing annuity benefits throughout retirement of a participant comprising
entering a participant's information into a database on a bank computer capable of sending and receiving data, wherein the bank computer is connected to a bank's computer network; utilizing the participant's information entered into the database on the bank computer connected to the bank's computer network to perform computer-based calculations of the amount of time that the participant will need retirement funds; determining by computer-based calculations using existing annuity purchase rates, the amount of money from the participant's existing funds needed for the purchase of an annuity that will provide an income throughout retirement of the participant in combination with any remaining existing funds of the participant; transferring at least a portion of the participant's existing funds electronically to the bank computer connected to the bank's computer network; obtaining an annuity commitment from an insurer; wherein annuity purchase rates were obtained electronically from at least one insurer; providing the participant with a right to purchase the annuity at a guaranteed purchase rate; and providing the participant with monthly retirement funds throughout retirement if the annuity was purchased. |
