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 (“PDA”) 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.

Abstract: A computerized method for administering an investment account having an income or withdrawal guarantee and long term care guarantee includes the steps of establishing an investment account having an account balance, allocating a first portion of the account balance to fund a periodic long term care benefit having a long term care benefit guarantee, allocating a second portion of the account to fund a periodic income or withdrawal benefit having an income or withdrawal benefit guarantee, determining an amount of a periodic long term care benefit available for payment of a long term care benefit claims under the long term care benefit guarantee, and determining an amount of a periodic income or withdrawal benefit available for distribution under the income or withdrawal benefit guarantee. The long term care benefit guarantee may include an acceleration of benefits guarantee and an extension of benefits guarantee.