Computer System For Efficiently Managing Data Processing and Communications with Third Party Servers

Abstract

A system is provided for administering a destination fund having a guarantee wrapper. The guarantee provides an income stream for life to one or more investors. The destination fund has a selected mix of equities and fixed income investments to provide for enhanced returns throughout retirement for the investor. The destination fund additionally provides income stream flexibility throughout the lifetime of the investor. Administration of a destination fund having a guarantee wrapper may include initiating a guarantee payment process if a value of the destination fund falls below a threshold.

We claim: 
     
         1 . A computer system for efficiently managing data processing and communications with an information technology server and a payment server, comprising:
 one or more data storage devices for storing investor data, destination fund account eligibility criteria, and guarantee payment eligibility criteria;   one or more computer processors in communication with the one or more data storage devices;   a communications device in communication with the one or more computer processors and the one or more data storage devices; and   a memory, coupled to the one or more computer processors, storing program instructions which, when executed by the one or more computer processors, cause the one or more computer processors to:
 receive from a financial services information technology server data related to one or more investors including data indicative of target date fund accounts of the investors, wherein each target date fund account has a first predetermined ratio of equity and non-equity investments, and, after a time period, has a second predetermined ratio of equity and non-equity investments weighted more than the first predetermined ratio to non-equity investments; 
 determine destination fund account eligibility based on the stored investor data and the stored destination fund account eligibility criteria, and responsive to an affirmative determination that the investor is eligible, provide output data indicative of eligibility; 
 initialize, for eligible investors, destination fund accounts having a guarantee, the destination fund accounts being funded by proceeds of assets from the target date fund accounts, and store data indicative of the destination fund accounts in the one or more data storage devices; 
 determine, based on the guarantee payment eligibility criteria and the data indicative of the destination fund accounts, whether at least one guarantee payment associated with the destination fund account is to be made, and responsive to an affirmative determination that at least one guarantee payment is to be made, provide output data indicative of at least one guarantee payment to be made to a payment server computer system. 
   
     
     
         2 . The computer system of  claim 1 , wherein the memory stores further program instructions to cause the one or more computer processors to:
 prompt a user to input the data related to the one or more investors; and   prompt the user to select one of multiple allocation profiles for the destination fund account.   
     
     
         3 . The computer system of  claim 2 , wherein the memory storing program instructions to cause the one or more computer processors to prompt the user to input the data related to the one or more investors comprises the memory storing program instructions to cause the one or more computer processors to prompt the user to input one or more of data indicative of an anticipated retirement date, data indicative of asset amounts, data indicative of a projected desired income, and data indicative of investor risk tolerance. 
     
     
         4 . The computer system of  claim 2 , wherein the memory storing program instructions to cause the one or more computer processors to prompt the user to select one of multiple allocation profiles for the destination fund account comprises the memory storing program instructions to cause the one or more computer processors to prompt the user to select from destination fund accounts invested in an equity/non-equity ratio in a range of 65/35 to 75/25 throughout an investor's retirement. 
     
     
         5 . The system of  claim 4 , wherein the memory further comprises program instructions which cause the one or more computer processors to:
 monitor data indicative of an allocation of investments in the destination fund account;   compare data indicative of a current allocation of the investments in the destination fund account to data indicative of the selected one of the multiple allocation profiles for the destination fund account desired allocation; and   responsive to the current allocation not satisfying the desired allocation, divest assets in one category and reinvest proceeds of the divested assets in a different category to maintain the investment allocation of the destination fund account within a range of the desired investment allocation.   
     
     
         6 . The computer system of  claim 1 , wherein the one or more data storage devices stores data indicative of a predetermined threshold account value below which at least one guarantee payment is to be made;
 wherein the memory storing program instructions to cause the one or more computer processors to determine, based on the guarantee payment eligibility criteria and the data indicative of the destination fund accounts, whether at least one guarantee payment associated with the destination fund account is to be made, comprises the memory storing program instructions which cause the one or more computer processors to:   monitor data indicative of a value of the destination fund account;   compare the data indicative of the value of the destination fund account with the predetermined threshold account value;   determine, based on the comparison, whether the value of the destination fund account is less than the predetermined threshold account value;   responsive to a negative determination that the destination fund account is less than the predetermined threshold account value, continue to monitor the data indicative of the value of the destination fund account;   responsive to an affirmative determination that the destination fund account is less than the predetermined threshold account value, generate a positive determination that at least one guarantee payment associated with the destination fund account is to be made.   
     
     
         7 . The computer system of  claim 1 , wherein the memory further comprises program instructions which cause the one or more computer processors to, prior to comparing the data indicative of the value of the destination account to the predetermined threshold account value, adjust the data indicative of the destination fund account value based on withdrawals from the destination fund account made by the investor. 
     
     
         8 . The system of  claim 1 , wherein the memory storing program instructions to cause the one or more computer processors to initialize the destination fund accounts having a guarantee further comprises the memory storing program instructions which cause the one or more computer processors to:
 receive instructions for reallocating assets in the destination fund accounts according to a desired allocation at a predetermined date or time interval;   compare current time data to the predetermined date or time interval; and   responsive to the comparison of the current time data to the predetermined date or time interval, divest assets in one category and reinvest proceeds of the divested assets in a different category to maintain the investment allocation of the destination fund accounts within a range of the desired investment allocation.   
     
     
         9 . A computer-implemented method for efficiently managing data processing and communications with an information technology server and a payment server, comprising:
 receiving, by one or more computer processors by a communications device from a financial services information technology server, data related to one or more investors including data indicative of target date fund accounts of the investors, wherein each target date fund account has a first predetermined ratio of equity and non-equity investments, and, after a time period, has a second predetermined ratio of equity and non-equity investments weighted more than the first predetermined ratio to non-equity investments;   storing, by the one or more computer processors in one or more data storage devices, the received investor data; and   determining, by the one or more computer processors, destination fund account eligibility based on the stored investor data and responsive to an affirmative determination that the investor is eligible, providing output data indicative of eligibility;   initializing, by the one or more computer processors, for eligible investors, destination fund accounts having a guarantee, the destination fund accounts being funded by proceeds of assets from the target date fund accounts;   storing, in the one or more data storage devices, data indicative of the destination fund accounts;   determining, by the one or more computer processors, based on guarantee payment eligibility criteria stored in the one or more data storage devices and the data indicative of the destination fund accounts, whether at least one guarantee payment associated with the destination fund account is to be made; and   responsive to an affirmative determination that the at least one guarantee payment is to be made, providing, by the one or more computer processors, output data indicative of the at least one guarantee payment to be made to a payment server computer system.   
     
     
         10 . The computer-implemented method of  claim 9 , further comprising:
 prompting, by the one or more computer processors, a user to input the data related to the one or more investors; and   prompting, by the one or more computer processors, the user to select one of multiple allocation profiles for the destination fund account.   
     
     
         11 . The computer-implemented method of  claim 10 , wherein prompting the user to input the data related to the one or more investors comprises prompting the user to input one or more of data indicative of an anticipated retirement date, data indicative of asset amounts, data indicative of a projected desired income, and data indicative of investor risk tolerance. 
     
     
         12 . The computer-implemented method of  claim 10 , wherein prompting the user to select one of multiple allocation profiles for the destination fund account comprises prompting the user to select from destination fund accounts invested in an equity/non-equity ratio in a range of 65/35 to 75/25 throughout an investor's retirement. 
     
     
         13 . The computer-implemented method of  claim 12 , further comprising:
 monitoring, by the one or more computer processors, data indicative of an allocation of investments in the destination fund account;   comparing, by the one or more computer processors, data indicative of a current allocation of the investments in the destination fund account to data indicative of the selected one of the multiple allocation profiles for the destination fund account desired allocation; and   responsive to the current allocation not satisfying the desired allocation, divesting, by the one or more computer processors, assets in one category and reinvesting, by the one or more computer processors, proceeds of the divested assets in a different category to maintain the investment allocation of the destination fund account within a range of the desired investment allocation.   
     
     
         14 . The computer-implemented method of  claim 9 , wherein determining, based on the guarantee payment eligibility criteria and the data indicative of the destination fund accounts, whether at least one guarantee payment associated with the destination fund account is to be made, comprises:
 monitoring, by the one or more computer processors, data indicative of a value of the destination account;   comparing, by the one or more computer processors, the data indicative of the value of the destination account with a predetermined threshold account value;   determining, by the one or more computer processors based on the comparison, whether the value of the destination account is less than the predetermined threshold account value;   responsive to negative determination that the destination account is less than the predetermined threshold value, continuing to monitor the data indicative of the value of the destination account;   responsive to an affirmative determination that the destination account is less than the predetermined threshold account value, generating a positive determination that at least one guarantee payment associated with the destination fund account is to be made.   
     
     
         15 . The computer-implemented method of  claim 9 , further comprising, prior to comparing the data indicative of the value of the destination account to the predetermined threshold account value, adjusting the data indicative of the destination fund account value based on withdrawals from the destination fund account made by the investor. 
     
     
         16 . The computer-implemented method of  claim 9 , wherein initializing the destination fund accounts having a guarantee further comprises the memory storing program instructions which cause the one or more computer processors to:
 receive instructions for reallocating assets in the destination fund accounts according to a desired allocation at a predetermined date or time interval;   compare current time data to the predetermined date or time interval; and   responsive to the comparison of the current time data to the predetermined date or time interval, divest assets in one category and reinvest proceeds of the divested assets in a different category to maintain the investment allocation of the destination fund accounts within a range of the desired investment allocation.   
     
     
         17 . A computer system for efficiently managing data processing and communications with an information technology server and a payment server, comprising:
 one or more data storage devices for storing investor data, destination fund account eligibility criteria, and guarantee payment eligibility criteria;   one or more computer processors in communication with the one or more data storage devices;   a communications device in communication with the one or more computer processors and the one or more data storage devices; and   a memory, coupled to the one or more computer processors, storing program instructions which, when executed by the one or more computer processors, cause the one or more computer processors to:
 receive, from a financial services information technology server, data related to one or more investors including data indicative of target date fund accounts of the investors, wherein each target date fund account has a first predetermined ratio of equity and non-equity investments, and, after a time period, has a second predetermined ratio of equity and non-equity investments weighted more than the first predetermined ratio to non-equity investments; 
 determine destination fund account eligibility based on the stored investor data and the stored destination fund account eligibility criteria; 
 divest, for eligible investors, assets of a target date fund account and reinvest proceeds of the divested assets in destination fund accounts having a guarantee; 
 store data indicative of the destination fund accounts in the one or more data storage devices; 
 determine, based on the guarantee payment eligibility criteria and the data indicative of the destination fund accounts, whether at least one guarantee payment associated with the destination fund account is to be made, and responsive to an affirmative determination that at least one guarantee payment is to be made, provide output data indicative of the at least one guarantee payment to be made to a payment server computer system. 
   
     
     
         18 . The computer system of  claim 17 , wherein the investor data comprises investor age data and planned retirement date data and wherein the memory storing program instructions to cause the processor to determine destination fund account eligibility comprises the memory storing program instruction which cause the processor to:
 determine whether the target date fund account has a percentage investment in equity investments below a predetermined threshold; and   determine whether a current investor age is within a predetermined age range or is within a predetermined range of years until the planned retirement date.   
     
     
         19 . The computer system of  claim 17 , wherein the guarantee payment eligibility criteria comprise a threshold minimum value of the target date fund account. 
     
     
         20 . The computer system of  claim 17 , wherein the memory stores further program instructions which cause the one or more computer processors to:
 effect, by the payment server computer system and responsive to receiving the output data including data indicative of the at least one guarantee payment, the at least one guarantee payment to a recipient in accordance with the output data.