Abstract: Described are systems and methods converting a first guaranteed benefit to a second guaranteed benefit. The system may include a first computing arrangement storing first annuity data indicative of a first guaranteed benefit associated with an annuity, and a second computing arrangement sending a request to the first computing arrangement to convert the first guaranteed benefit to a second guaranteed benefit. Upon receipt of the message, the first computing arrangement may store second annuity data indicative of the second guaranteed benefit associated with the annuity.