Patents by Inventor Peter C. Carlson
Peter C. Carlson has filed for patents to protect the following inventions. This listing includes patent applications that are pending as well as patents that have already been granted by the United States Patent and Trademark Office (USPTO).
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Patent number: 8838493Abstract: According to one embodiment of the invention, a financial instrument includes a first tax-deferred account and first, second, and third guarantees. The first tax-deferred account has an account balance based in part on a deduction from wages paid to an employee. The first guarantee is a guarantee of a first protected value based upon a deposit growing at a minimum growth rate The second guarantee is a guarantee that a beneficiary may periodically receive a transfer of an amount of money for the life of the employee. The third guarantee is a guarantee that the first protected value may be transferred with the first tax-deferred account to a separate financial instrument including a second tax-deferred account, a fourth guarantee of a second protected value, and a fifth guarantee that a beneficiary may periodically receive a transfer of an amount of money for the life of the employee.Type: GrantFiled: September 14, 2006Date of Patent: September 16, 2014Assignee: The Prudential Insurance Company of AmericaInventors: Peter C. Carlson, George A. Castinetras, Mark J. Foley, Nakia A. Kearse, James I. Mahaney, Douglas S. McIntosh, Jr., Richard G. Phipps, Jr., Brian Picard, Brent W. Walder
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Patent number: 8301526Abstract: The present invention provides a method for maximizing retirement income using bridge annuities and deferred Social Security income. Financial information about a client is gathered, in addition to financial information about the client's spouse, if applicable. A variety of income scenarios are modeled using the financial information and a plurality of income models, each model including income from a bridge product and deferred Social Security income. Alternate funding approaches are projected using the financial information, and the modeled scenarios are compared to the alternate funding approaches to determine the optimal scenario for maximizing retirement income. The client can then purchase a bridge product in accordance with the optimal scenario.Type: GrantFiled: February 4, 2005Date of Patent: October 30, 2012Assignee: The Prudential Insurance Company of AmericaInventors: James I. Mahaney, Peter C. Carlson
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Patent number: 8266035Abstract: A data processing system for managing an annuity account associated with a first provision entitling a beneficiary to monetary transfers for a duration of time extending for the life of a first designated party and a second provision granting an option to modify the duration of time. The data processing system includes one or more processors and one or more memory devices storing logic. The logic is operable when executed by the one or more processors to determine whether an option has been elected and, based at least in part on the determination, process one or more monetary transfers to the beneficiary.Type: GrantFiled: February 25, 2011Date of Patent: September 11, 2012Assignee: The Prudential Insurance Company of AmericaInventors: Peter C. Carlson, Mark J. Foley, Brent W. Walder
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Publication number: 20110145170Abstract: According to one embodiment of the invention, a financial instrument includes an account with an account balance that changes over time, wherein at least part of the account balance may be discretionarily withdrawn and wherein the initial account balance is based upon an initial deposit; a guarantee that a beneficiary may periodically receive a transfer of an amount of money for the life of a first designated party, wherein the transfer may be due to withdrawal from the account or due to benefit payments made to the beneficiary, provided that the amount may vary based upon withdrawals from the account in excess of a particular limit; and an option to modify the guarantee such that upon election the beneficiary may periodically receive the transfer of the amount of money for the longer of the life of the first designated party and the life of a second designated party.Type: ApplicationFiled: February 25, 2011Publication date: June 16, 2011Applicant: The Prudential Insurance Company of AmericaInventors: Peter C. Carlson, Mark J. Foley, Brent W. Walder
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Patent number: 7899730Abstract: A data processing system for managing an annuity account includes one or more processors and one or more memory devices. The memory device(s) may store data indicating whether an option has been elected. In addition, the memory devices(s) may include logic, operable when executed by the one or more processors to calculate one or more fees. The fee(s) may be for a first provision entitling a beneficiary to monetary transfers for a duration of time extending for at least the life of a first designated party. In addition, the fee(s) may be for a second provision granting an option to modify the duration of time to extend for at least the longer of the life of the first designated party and the life of a second designated party. The logic may be further operable, when executed by the one or more processors, to determine whether the option has been elected.Type: GrantFiled: February 26, 2010Date of Patent: March 1, 2011Assignee: The Prudential Insurance Company of AmericaInventors: Peter C. Carlson, Mark J. Foley, Brent W. Walder
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Publication number: 20100153141Abstract: According to one embodiment of the invention, a financial instrument includes an account with an account balance that changes over time, wherein at least part of the account balance may be discretionarily withdrawn and wherein the initial account balance is based upon an initial deposit; a guarantee that a beneficiary may periodically receive a transfer of an amount of money for the life of a first designated party, wherein the transfer may be due to withdrawal from the account or due to benefit payments made to the beneficiary, provided that the amount may vary based upon withdrawals from the account in excess of a particular limit; and an option to modify the guarantee such that upon election the beneficiary may periodically receive the transfer of the amount of money for the longer of the life of the first designated party and the life of a second designated party.Type: ApplicationFiled: February 26, 2010Publication date: June 17, 2010Applicant: The Prudential Insurance of CompanyInventors: Peter C. Carlson, Mark J. Foley, Barent W. Walder
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Patent number: 7698201Abstract: A financial instrument includes an account with an account balance that changes over time, wherein at least part of the account balance may be discretionarily withdrawn and wherein the initial account balance is based upon an initial deposit; a guarantee that a beneficiary may periodically receive a transfer of an amount of money for the life of a first designated party, wherein the transfer may be due to withdrawal from the account or due to benefit payments made to the beneficiary, provided that the amount may vary based upon withdrawals from the account in excess of a particular limit; and an option to modify the guarantee such that upon election the beneficiary may periodically receive the transfer of the amount of money for the longer of the life of the first designated party and the life of a second designated party.Type: GrantFiled: September 14, 2006Date of Patent: April 13, 2010Assignee: The Prudential Insurance Company of AmericaInventors: Peter C. Carlson, Mark J. Foley, Brent W. Walder
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Publication number: 20080082369Abstract: According to one embodiment of the invention, a financial instrument includes an account with an account balance that changes over time, wherein at least part of the account balance may be discretionarily withdrawn and wherein the initial account balance is based upon an initial deposit; a guarantee that a beneficiary may periodically receive a transfer of an amount of money for the life of a first designated party, wherein the transfer may be due to withdrawal from the account or due to benefit payments made to the beneficiary, provided that the amount may vary based upon withdrawals from the account in excess of a particular limit; and an option to modify the guarantee such that upon election the beneficiary may periodically receive the transfer of the amount of money for the longer of the life of the first designated party and the life of a second designated party.Type: ApplicationFiled: September 14, 2006Publication date: April 3, 2008Inventors: Peter C. Carlson, Mark J. Foley, Brent W. Walder
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Publication number: 20080071655Abstract: According to one embodiment of the invention, a financial instrument includes a first tax-deferred account and first, second, and third guarantees. The first tax-deferred account has an account balance based in part on a deduction from wages paid to an employee. The first guarantee is a guarantee of a first protected value based upon a deposit growing at a minimum growth rate The second guarantee is a guarantee that a beneficiary may periodically receive a transfer of an amount of money for the life of the employee. The third guarantee is a guarantee that the first protected value may be transferred with the first tax-deferred account to a separate financial instrument including a second tax-deferred account, a fourth guarantee of a second protected value, and a fifth guarantee that a beneficiary may periodically receive a transfer of an amount of money for the life of the employee.Type: ApplicationFiled: September 14, 2006Publication date: March 20, 2008Inventors: Peter C. Carlson, George A. Castinetras, Mark J. Foley, Nakia A. Kearse, James I. Mahaney, Douglas S. McIntosh, Richard G. Phipps, Brian Picard, Brent W. Walder
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Publication number: 20040158517Abstract: The present invention provides a method for maximizing retirement income using bridge annuities and deferred Social Security income. Financial information about a client is gathered, in addition to financial information about the client's spouse, if applicable. A variety of income scenarios are modeled using the financial information and a plurality of income models, each model including income from a bridge product and deferred Social Security income. Alternate funding approaches are projected using the financial information, and the modeled scenarios are compared to the alternate funding approaches to determine the optimal scenario for maximizing retirement income. The client can then purchase a bridge product in accordance with the optimal scenario.Type: ApplicationFiled: February 6, 2004Publication date: August 12, 2004Inventors: James I. Mahaney, Peter C. Carlson