The patent badge is an abbreviated version of the USPTO patent document. The patent badge does contain a link to the full patent document.
The patent badge is an abbreviated version of the USPTO patent document. The patent badge covers the following: Patent number, Date patent was issued, Date patent was filed, Title of the patent, Applicant, Inventor, Assignee, Attorney firm, Primary examiner, Assistant examiner, CPCs, and Abstract. The patent badge does contain a link to the full patent document (in Adobe Acrobat format, aka pdf). To download or print any patent click here.
Patent No.:
Date of Patent:
Jul. 15, 2014
Filed:
Feb. 27, 2002
Geoffrey Stiff, Richmond, VA (US);
Mary Fay, Richmond, VA (US);
Paul Haley, Glen Allen, VA (US);
Vickey Root, Richmond, VA (US);
Matthew Sharpe, Glen Allen, VA (US);
Geoffrey Stiff, Richmond, VA (US);
Mary Fay, Richmond, VA (US);
Paul Haley, Glen Allen, VA (US);
Vickey Root, Richmond, VA (US);
Matthew Sharpe, Glen Allen, VA (US);
Genworth Holdings, Inc., Richmond, VA (US);
Abstract
A system and method for providing a user with a plurality of guaranteed minimum retirement income payments is disclosed. The system comprises a variable immediate annuity module to receive an income generating payment and to output a guaranteed minimum retirement income payment amount wherein the periodic retirement income payment amount is greater than, equal to, or less than a guaranteed minimum periodic retirement income payment amount if the income generating payments received are received according to a predetermined payment schedule, and wherein the predetermined guaranteed minimum periodic retirement income payment amount is defined by the user. The system also includes an adjustment module for comparing the periodic retirement income payment amount and the guaranteed minimum periodic retirement income payment amount, and for outputting to the user at least the guaranteed minimum periodic retirement income payment amount, the adjustment module storing a balance in an adjustment account if the periodic retirement income payment amount is less than the guaranteed minimum periodic retirement income payment amount.