Methods and apparatus for funding future liability of uncertain cost

Claim 2

A data processing system for administering a program to provide a future return adequate to meet payouts for funding the uncertain cost of a service or commodity at a future date, which determines payments required for participation in the program and manages a portfolio of assets purchased with the participation payments, said system comprising: means for determining the payment required for participation in the program based on the cost of the service or commodity at time of payment, data concerning the expected time rate of change of the cost of said service or commodity, and the time period from the present to said future date; means for entering participation payment data into the data processing system; asset position list means for storing an asset position list including information concerning the portfolio of assets purchased with the participation payments; means for periodically processing said participation payment data to determine the total of said participation payment data for a period for which said periodic processing is performed; means responsive to said total participation payment data and to information from said asset position list for providing portfolio management data so that assets can be selectively purchased or sold to provide that the cash flow from the portfolio is adequate for funding program payouts and to provide that the yield of the portfolio at least matches the expected time rate of change from the present to said future date of the present cost of the service or commodity; and means for generating a management report including said portfolio management data and said information in said asset position list.

Claim 3

The data processing system of claim 1, further comprising means for entering the selected asset purchase and sale transaction data, to update the asset position list.

Claim 4

The data processing system of claim 1, wherein the means for determining the payment required for participation in the program comprises: means for determining a future value escalation rate in response to information concerning the expected time rate of change of the cost of the service or commodity; means for projecting the future cost of the service or commodity based on the current cost and the future value escalation rate; and means for discounting the future cost to a rpesent value based on at least the future value escalation rate to determine a current price for the participation payment.

Claim 5

The data processing system of claim 3 wherein said discounting means discounts said future cost further based upon a risk rate.

Claim 6

The data processing system of claim 3, wherein the means for providing portfolio management data comprises: means for determining the net change in asset position in response to information concerning the net amount of transactions, reinvestment cash flow from the portfolio, and actuarial data; and means responsive to the net change in asset position determination and to data inputs concerning investment criteria and projected interest rates for selecting assets to be purchased or sold, and for evaluating the effect of the selected asset purchases or sales on the portfolio to identify selections which cause at least one of (a) the yield of the portfolio to be less than the future value escalation rate, and (b) the cash inflow from the portfolio to be less than the total of projected program payouts.

Claim 7

The data processing system of claim 1, further comprising account list means for storing an account list including current information for each participant account.

Claim 8

A data processing method for administering a program to provide a future return adequate to meet payouts for funding the uncertain cost of a service or commodity at a future date, which determines payments required for participation in the program and manages a portfolio of assets purchased with the participation payments, said method comprising the steps of: determining the payment required for participation in the program based on the cost of the service or commodity at time of payment, data concerning the expected time rate of change of the cost of said service or commodity, and the time period from the present to said future date; entering participation payment data; storing an asset position list including information concerning the portfolio of assets purchased with the participation payments; periodically processing said participation payment data to determine the total of said participation payment data for a period for which said periodic processing is performed; providing portfolio management data in response to said total participation payment data and to information from said asset position list, so that assets can be selectively purchased or sold to provide that the cash flow from the portfolio is adequate for funding program payments and to provide that the yield of the portfolio at least matches the expected time rate of change from the present to said future date of the present cost of the service or commodity; and generating a management report including said portfolio management data and said information in said asset position list.

Claim 9

A data processing method for administering a program to provide a future return adequate to meet payouts for funding the uncertain cost of a service or commodity at a future date, which determines payments required for participation in the program and manages a portfolio of assets purchased with the participation payments, said method comprising the steps of: determining the payment required for participation in the program based on the cost of the service or commodity at time of payment, data concerning the expected time rate of change of the cost of said service or commodity, and the time period from the present to said future date; entering participation payment data; storing an asset position list including information concerning the portfolio of assets purchased with the participation payments; periodically processing said participation payment data to determine the total of said participation payment data for a period for which said periodic processing is performed; providing portfolio management data in response to said total participation payment data and to information from said asset position list, so that assets can be selectively purchased or sold to provide that the cash flow from the portfolio is adequate for funding program payments and to provide that the yield of the portfolio at least matches the expected time rate of change from the present to said future date of the present cost of the service or commodity; and generating a management report including said portfolio management data and said information in said asset position list.

Claim 10

The data processing method of claim 7, wherein the step of determining the payment required for participation in the program comprises the steps of: determining a future value escalation rate in response to information concerning the expected time rate of change of the cost of the service or commodity; projecting the future cost of the service or commodity based on the current cost and the future value escalation rate; and discounting the future cost to a present value based on at least the future value escalation rate to determine a current price for the participation payment.

Claim 11

The data processing method of claim 8 wherein said discounting step comprises discounting said future cost further based upon a risk rate.

Claim 12

The data processing method of claim 8, wherein the step of providing portfolio management data comprises the steps of: determining the net change in asset position in response to information concerning the net amount of transactions, reinvestment cash flow from the portfolio, and actuarial data; and responsive to the net change in asset position determination and to data inputs concerning investment criteria and projected interest rates, selecting assets to be purchased or sold, and evaluating the effect of the selected asset purchases or sales on the portfolio to identify selections which cause at least one of (a) the yield of the portfolio to be less than the future value escalation rate, and (b) the cash inflow from the portfolio to be less than the total of projected program payouts.

Claim 13

The data processing method of claim 7, further comprising entering the selected asset purchase and sale transaction date, to update the asset position list.

Claim 14

The data processing method of claim 7, further comprising storing an account list including current information for each participant account.

Claim 15

A data processing system for administering a program to provide a future return for meeting payouts, which determines payments required for participation in the program and manages a portfolio of assets purchased with the participation payments, said system comprising: means for determining the payment required for participation in the program based on the cost of a selected service or commodity at time of payment, data concerning the expected time rate of change of the cost of said service or commodity, and the time period from the present to a preselected future date; means for entering participation payment data into the data processing system; asset position list means for storing an asset position list including information concerning the portfolio of assets purchased with the participation payments; means for periodically processing said participation payment data to determine the total of said participation payment data for a period for which said periodic processing is performed; means responsive to said total participation payment data and to information from said asset position list for providing portfolio management data so that assets can be selectively purchased or sold to provide that the cash flow from the portfolio is adequate for funding program payouts and to provide that the yield of the portfolio at least matches the expected time rate of change from the present to said future date of the present cost of the service or commodity, whereby said future return is adequate to fund the uncertain cost of the service or commodity at said future date; and means for generating a management report including said portfolio management data and said information in said asset position list.

Claim 16

A data processing system for administering a program to provide a future return for meeting payouts, which determines payments required for participation in the program and manages a portfolio of assets purchased with the participation payments, said system comprising: means for determining the payment required for participation in the program based on the cost of a selected service or commodity at time of payment, data concerning the expected time rate of change of the cost of said service or commodity, and the time period from the present to a preselected future date; means for entering participation payment data into the data processing system; asset position list means for storing an asset position list including information concerning the portfolio of assets purchased with the participation payments; means for periodically processing said participation payment data to determine the total of said participation payment data for a period for which said periodic processing is performed; means responsive to said total participation payment data and to information from said asset position list for providing portfolio management data so that assets can be selectively purchased or sold to provide that the cash flow from the portfolio is adequate for funding program payouts and to provide that the yield of the portfolio at least matches the expected time rate of change from the present to said future date of the present cost of the service or commodity, whereby said future return is adequate to fund the uncertain cost of the service or commodity at said future date; and means for generating a management report including said portfolio management data and said information in said asset position list.

Claim 17

The data processing system of claim 13, further comprising means for entering the selected asset purchase and sale transaction data, to update the asset position list.

Claim 18

The data processing system of claim 13, wherein the means for determining the payment required for participation in the program comprises: means for determining a future value escalation rate in response to information concerning the expected time rate of change of the cost of the service or commodity; means for projecting the future cost of the service or commodity based on the current cost and the future value escalation rate; and means for discounting the future cost to a present value based on at least the future value escalation rate to determine a current price for the participation payment.

Claim 19

The data processing system of claim 15 wherein said discounting means discounts said future costs further based upon a risk rate.

Claim 20

The data processing system of claim 15, wherein the means for providing portfolio management data comprises: means for determining the net change in asset position in response to information concerning the net amount of transactions, reinvestment cash flow from the portfolio, and actuarial data; and means responsive to the net change in asset position determination and to data inputs concerning investment criteria and projected interest rates for selecting assets to be purchased or sold, and for evaluating the effect of the selected asset purchases or sales on the portfolio to identify selections which cause at least one of (a) the yield of the portfolio to be less than the future value escalation rate, and (b) the cash inflow from the portfolio to be less than the total of projected program payouts.

Claim 21

The data processing system of claim 13, further comprising account list means for storing an account list including current information for each participant account.

Claim 22

A data processing method for administering a program to provide a future return for meeting payouts, which determines payments required for participation in the program and manages a portfolio of assets purchased with the participation payments, said method comprising the steps of: determining the payment required for participation in the program based on the cost of a selected service or commodity at time of payment, data concerning the expected time rate of change of the cost of said service or commodity, and the time period from the present to a preselected future date; entering participation payment data; storing an asset position list including information concerning the portfolio of assets purchased with the participation payments; periodically processing said participation payment data to determine the total of said participation payment data for a period for which said periodic processing is performed; providing portfolio management data in response to said total participation payment data and to information from said asset position list, so that assets can be selectively purchased or sold to provide that the cash flow from the portfolio is adequate for funding program payments and to provide that the yield of the portfolio at least matches the expected time rate of change from the present to said future date of the present cost of the service or commodity, whereby said future return is adequate to fund the uncertain cost of the service or commodity at said future date; and generating a management report including said portfolio management data and said information in said asset position list.

Claim 23

A data processing method for administering a program to provide a future return for meeting payouts, which determines payments required for participation in the program and manages a portfolio of assets purchased with the participation payments, said method comprising the steps of: determining the payment required for participation in the program based on the cost of a selected service or commodity at time of payment, data concerning the expected time rate of change of the cost of said service or commodity, and the time period from the present to a preselected future date; entering participation payment data; storing an asset position list including information concerning the portfolio of assets purchased with the participation payments; periodically processing said participation payment data to determine the total of said participation payment data for a period for which said periodic processing is performed; providing portfolio management data in response to said total participation payment data and to information from said asset position list, so that assets can be selectively purchased or sold to provide that the cash flow from the portfolio is adequate for funding program payments and to provide that the yield of the portfolio at least matches the expected time rate of change from the present to said future date of the present cost of the service or commodity, whereby said future return is adequate to fund the uncertain cost of the service or commodity at said future date; and generating a management report including said portfolio management data and said information in said asset position list.

Claim 24

The data processing method of claim 19, wherein the step of determining the payment required for participation in the program comprises the steps of: determining a future value escalation rate in response to information concerning the expected time rate of change of the cost of the service or commodity; projecting the future cost of the service or commodity based on the current cost and the future value escalation rate; and discounting the future cost to a present value based on at least the future value escalation rate to determine a current price for the participation payment.

Claim 25

The data processing method of claim 20 wherein said discounting step comprises discounting said future cost further based upon a risk rate.

Claim 26

The data processing method of claim 20, wherein the steps of providing portfolio management data comprises the steps of: determining the net change in asset position in response to information concerning the net amount of transactions, reinvestment cash flow from the portfolio, and actuarial data; and responsive to the net change in asset position determination and to data inputs concerning investment criteria and projected interest rates, selecting assets to be purchased or sold, and evaluating the effect of the selected asset purchases or sales on the portfolio to identify selections which cause at least one of (a) the yield of the portfolio to be less than the future value escalation rate, and (b) the cash inflow from the portfolio to be less than the total of projected program payouts.

Claim 27

The data processing method of claim 19, further comprising entering the selected asset purchase and sale transaction data, to update the asset position list.

Claim 28

The data processing method of claim 19, further comprising storing an account list including current information for each participant account.

Claim 29

A data processing system for administering a program to provide a future return adequate to meet payouts for funding the uncertain cost of a service or commodity at a future date, which determines payments required for participation in the program and manages a portfolio of assets purchased with the participation payments, said system comprising: means for determining the payment required for participation in the program based on the cost of the service or commodity at time of payment, data concerning the expected time rate of change of the cost of said service or commodity, and the time period from the present to said future date; means for entering participation payment data into the data processing system; account list means for storing an account list including current information for each participant account; asset position list means for storing an asset position list including information concerning the portfolio of assets purchased with the participation payments; means for periodically processing said participation payment data to determine the total of said participation payment data for a period for which said periodic processing is performed; means for determining at a date intermediate said present and future dates a value for each participant account as a function of the cost of said service or commodity at time of payment of said participation payment, the rate of change from the present to said intermediate date of the present cost of the service or commodity, and time elapsed from the present to said intermediate date; means responsive to said total participation payment data and to information from said asset position list for providing portfolio management data so that assets can be selectively purchased or sold to provide that the cash flow from the portfolio is adequate for funding program payouts and to provide that the yield of the portfolio at least matches the expected time rate of change from the present to said future date of the present cost of the service or commodity; and means for generating a management report including said portfolio management data and said information in said asset position list.

Claim 30

A data processing system for administering a program to provide a future return adequate to meet payouts for funding the uncertain cost of a service or commodity at a future date, which determines payments required for participation in the program and manages a portfolio of assets purchased with the participation payments, said system comprising: means for determining the payment required for participation in the program based on the cost of the service or commodity at time of payment, data concerning the expected time rate of change of the cost of said service or commodity, and the time period from the present to said future date; means for entering participation payment data into the data processing system; account list means for storing an account list including current information for each participant account; asset position list means for storing an asset position list including information concerning the portfolio of assets purchased with the participation payments; means for periodically processing said participation payment data to determine the total of said participation payment data for a period for which said periodic processing is performed; means for determining at a date intermediate said present and future dates a value for each participant account as a function of the cost of said service or commodity at time of payment of said participation payment, the rate of change from the present to said intermediate date of the present cost of the service or commodity, and time elapsed from the present to said intermediate date; means responsive to said total participation payment data and to information from said asset position list for providing portfolio management data so that assets can be selectively purchased or sold to provide that the cash flow from the portfolio is adequate for funding program payouts and to provide that the yield of the portfolio at least matches the expected time rate of change from the present to said future date of the present cost of the service or commodity; and means for generating a management report including said portfolio management data and said information in said asset position list.

Claim 31

The data processing system of claim 25, further comprising means for entering the selected asset purchase and sale transaction data, to update the asset position list.

Claim 32

The data processing system of claim 25, wherein the means for determining the payment required for paritcipation in the program comprises: means for determining a future value escalation rate in response to information concerning the expected time rate of change of the cost of the service or commodity; means for projecting the future cost of the service or commodity based on the current cost and the future value escalation rate; and means for discounting the future cost to a present value based on at least the future value escalation rate to determine a current price for the participation payment.

Claim 33

The data processing system of claim 27 wherein said discounting means discounts said future cost further based upon a risk rate.

Claim 34

The data processing system of claim 27, wherein the means for providing portfolio management data comprises: means for determining the net change in asset position in response to information concerning the net amount of transactions, reinvestment cash flow from the portfolio, and actuarial data; and means responsive to the net change in asset position determination and to data inputs concerning investment criteria and projected interest rates for selecting assets to be purchased or sold, and for evaluating the effect of the selected asset purchases or sales on the portfolio to identify selections which cause at least one of (a) the yield of the portfolio to be less than the future value escalation rate, and (b) the cash inflow from the portfolio to be less than the total of projected program payouts.

Claim 35

A data processing method for administering a program to provide a future return adequate to meet payouts for funding the uncertain cost of a service or commodity at a future date, which determines payments required for participation in the program and manages a portfolio of assets purchased with the participation payments, said method comprising the steps of: determining the payment required for participation in the program based on the cost of the service or commodity at time of payment, data concerning the expected time rate of change of the cost of said service or commodity, and the time period from the present to said future date; entering participation payment data; storing an account list including current information for each participant account; storing an asset position list including information concerning the portfolio of assets purchased with the participation payments; periodically processing said participation payment data to determine the total of said participation payment data for a period for which said periodic processing is performed; determining at a date intermediate said present and future dates a value for each participant account as a function of the cost of said service or commodity at time of payment of said participation payment, the rate of change from the present to said intermediate date of the present cost of the service or commodity, and time elapsed from the present to said intermediate date; providing portfolio management data in response to said total participation payment data and to information from said asset position list, so that assets can be selectively purchased or sold to provide that the cash flow from the portfolio is adequate for funding program payments and to provide that the yield of the portfolio at least matches the expected time rate of change from the present to said future date of the present cost of the service or commodity; and generating a management report including said portfolio management data and said information in said asset position list.

Claim 36

A data processing method for administering a program to provide a future return adequate to meet payouts for funding the uncertain cost of a service or commodity at a future date, which determines payments required for participation in the program and manages a portfolio of assets purchased with the participation payments, said method comprising the steps of: determining the payment required for participation in the program based on the cost of the service or commodity at time of payment, data concerning the expected time rate of change of the cost of said service or commodity, and the time period from the present to said future date; entering participation payment data; storing an account list including current information for each participant account; storing an asset position list including information concerning the portfolio of assets purchased with the participation payments; periodically processing said participation payment data to determine the total of said participation payment data for a period for which said periodic processing is performed; determining at a date intermediate said present and future dates a value for each participant account as a function of the cost of said service or commodity at time of payment of said participation payment, the rate of change from the present to said intermediate date of the present cost of the service or commodity, and time elapsed from the present to said intermediate date; providing portfolio management data in response to said total participation payment data and to information from said asset position list, so that assets can be selectively purchased or sold to provide that the cash flow from the portfolio is adequate for funding program payments and to provide that the yield of the portfolio at least matches the expected time rate of change from the present to said future date of the present cost of the service or commodity; and generating a management report including said portfolio management data and said information in said asset position list.

Claim 37

The data processing method of claim 30, further comprising entering the selected asset purchase and sale transaction data, to update the asset position list.

Claim 38

The data processing method of claim 30, wherein the step of determining the payment required for participation in the program comprises the steps of: determining a future value escalation rate in response to information concerning the expected time rate of change of the cost of the service or commodity; projecting the future cost of the service or commodity based on the current cost and the future value escalation rate; and discounting the future cost to a present value based on at least the future value escalation rate to determine a current price for the participation payment.

Claim 39

The data processing method of claim 32 wherein said discounting step comprises discounting said future cost further based upon a risk rate.

Claim 40

The data processing method of claim 32, wherein the step of providing portfolio management data comprises the steps of: determining the net change in asset position in response to information concerning the net amount of transactions, reinvestment cash flow from the portfolio, and actuarial data; and responsive to the net change in asset position determination and to data inputs concerning investment criteria and projected interest rates, selecting assets to be purchased or sold, and evaluating the effect of the selected asset purchases or sales on the portfolio to identify selections which cause at least one of (a) the yield of the portfolio to be less than the future value escalation rate, and (b) the cash inflow from the portfolio to be less than the total of projected program payouts.

Claim 41

A data processing system for administering a program to provide a future return adequate to meet payouts for funding the uncertain cost of a service or commodity at a future date, which determines payments required for participation in the program and manages a portfolio of assets purchased with the participation payments, said system comprising: means for determining the payment required for participation in the program based on the cost of the service or commodity at time of payment, data concerning the expected time rate of change of the cost of said service or commodity, and the time period from the present to said future date; means for entering participation payment data into the data processing system; account list means for storing an account list including current information for each participant account; asset position list means for storing an asset position list including information concerning the portfolio of assets purchased with the participation payments; means for periodically processing said participation payment data to determine the total of said participation payment data for a period for which said periodic processing is performed; means for determining at a date intermediate said present and future dates value data for each participant account as a function of the cost of said service or commodity at time of payment of said participation payment, the rate of change from the present to said intermediate date of the present cost of the service or commodity, and time elapsed from the present to said intermediate date; means responsive to said total participation payment data, to said participant account value data, and to information from said asset position list for providing portfolio management data so that assets can be selectively purchased or sold to provide that the cash flow from the portfolio is adequate for funding program payouts and to provide that the yield of the portfolio at least matches the expected time rate of change from the present to said future date of the present cost of the service or commodity; and means for generating a management report including said portfolio management data and said information in said asset position list.

Claim 42

A data processing system for administering a program to provide a future return adequate to meet payouts for funding the uncertain cost of a service or commodity at a future date, which determines payments required for participation in the program and manages a portfolio of assets purchased with the participation payments, said system comprising: means for determining the payment required for participation in the program based on the cost of the service or commodity at time of payment, data concerning the expected time rate of change of the cost of said service or commodity, and the time period from the present to said future date; means for entering participation payment data into the data processing system; account list means for storing an account list including current information for each participant account; asset position list means for storing an asset position list including information concerning the portfolio of assets purchased with the participation payments; means for periodically processing said participation payment data to determine the total of said participation payment data for a period for which said periodic processing is performed; means for determining at a date intermediate said present and future dates value data for each participant account as a function of the cost of said service or commodity at time of payment of said participation payment, the rate of change from the present to said intermediate date of the present cost of the service or commodity, and time elapsed from the present to said intermediate date; means responsive to said total participation payment data, to said participant account value data, and to information from said asset position list for providing portfolio management data so that assets can be selectively purchased or sold to provide that the cash flow from the portfolio is adequate for funding program payouts and to provide that the yield of the portfolio at least matches the expected time rate of change from the present to said future date of the present cost of the service or commodity; and means for generating a management report including said portfolio management data and said information in said asset position list.

Claim 43

The data processing system of claim 35, further comprising means for entering the selected asset purchase and sale transaction data, to update the asset position list.

Claim 44

The data processing system of claim 35, wherein the means for determining the payment required for participation in the program comprises: means for determining a future value escalation rate in response to information concerning the expected time rate of change of the cost of the service or commodity; means for projecting the future cost of the service or commodity based on the current cost and the future value escalation rate; and means for disconnecting the future cost to a present value based on at least the future value escalation rate to determine a current price for the participation payment.

Claim 45

The data processing system of claim 37 wherein said discounting means discounts said future cost further based upon a risk rate.

Claim 46

The data processing system of claim 37, wherein the means for providing portfolio management data comprises: means for determining the net change in asset position in response to information concerning the net amount of transactions, reinvestment cash flow from the portfolio, and actuarial data; and means responsive to the net change in asset position determination and to data inputs concerning investment criteria and projected interest rates for selecting assets to be purchased or sold, and for evaluating the effect of the selected asset purchases or sales on the portfolio to identify selections which cause at least one of (a) the yield of the portfolio to be less than the future value escalation rate, and (b) the cash inflow from the portfolio to be less than the total of projected program payouts.

Claim 47

A data processing method for administering a program to provide a future return adequate to meet payouts for funding the uncertain cost of a service or commodity at a future date, which determines payments required for participation in the program and manages a portfolio of assets purchased with the participation payments, said method comprising the steps of: determining the payment required for participation in the program based on the cost of the service or commodity at time of payment, data concerning the expected time rate of change of the cost of said service or commodity, and the time period from the present to said future data; entering participation payment data; storing an account list including current information for each participant account; storing an asset position list including information concerning the portfolio of assets purchased with the participation payments; periodically processing said participation payment data to determine the total of said participation payment data for a period for which said periodic processing is performed; determining at a date intermediate said present and future dates value data for each participant account as a function of the cost of said service or commodity at time of payment of said participation payment, the rate of change from the present to said intermediate date of the present cost of the service or commodity, and time elapsed from the present to said intermediate date; providing portfolio management data in response to said total participation payment data, to said participant account value data, and to information from said asset position list, so that assets can be selectively purchased or sold to provide that the cash flow from the portfolio is adequate for funding program payments and to provide that the yield of the portfolio at least matches the expected time rate of change from the present to said future date of the present cost of the service or commodity; and generating a management report including said portfolio management data and said informatoin in said asset position list.

Claim 48

A data processing method for administering a program to provide a future return adequate to meet payouts for funding the uncertain cost of a service or commodity at a future date, which determines payments required for participation in the program and manages a portfolio of assets purchased with the participation payments, said method comprising the steps of: determining the payment required for participation in the program based on the cost of the service or commodity at time of payment, data concerning the expected time rate of change of the cost of said service or commodity, and the time period from the present to said future data; entering participation payment data; storing an account list including current information for each participant account; storing an asset position list including information concerning the portfolio of assets purchased with the participation payments; periodically processing said participation payment data to determine the total of said participation payment data for a period for which said periodic processing is performed; determining at a date intermediate said present and future dates value data for each participant account as a function of the cost of said service or commodity at time of payment of said participation payment, the rate of change from the present to said intermediate date of the present cost of the service or commodity, and time elapsed from the present to said intermediate date; providing portfolio management data in response to said total participation payment data, to said participant account value data, and to information from said asset position list, so that assets can be selectively purchased or sold to provide that the cash flow from the portfolio is adequate for funding program payments and to provide that the yield of the portfolio at least matches the expected time rate of change from the present to said future date of the present cost of the service or commodity; and generating a management report including said portfolio management data and said informatoin in said asset position list.

Claim 49

The data processing method of claim 40, further comprising entering the selected asset purchase and sale transaction data, to update the asset position list.

Claim 50

The data processing method of claim 40, wherein the steps of determining the payment required for participation in the program comprises the steps of: determining a future value escalation rate in response to information concerning the expected time rate of change of the cost of the service or commodity; projecting the future cost of the service or commodity based on the current cost and the future value escalation rate; and discounting the future cost to a present value based on at least the future value escalation rate to determine a current price for the participation payment.

Claim 51

The data processing method of claim 42 wherein said discounting step comprises discounting said future cost further based upon a risk rate.

Claim 52

The data processing method of claim 42, wherein the step of providing portfolio management data comprises the steps of: determining the net change in asset position in response to information concerning the net amount of transactions, reinvestment cash flow from the portfolio, and actuarial data; and responsive to the net change in asset position determination and to data inputs concerning investment criteria and projected interest rates, selecting assets to be purchased or sold, and evaluating the effect of the selected asset purchases or sales on the portfolio to identify selections which cause at least one of (a) the yield of the portfolio to be less than the future value escalation rate, and (b) the cash inflow from the portfolio to be less than the total of projected program payouts.

Claim 53

A data processing system for administering a program to provide a future return adequate to meet payouts for funding the uncertain cost of a service or commodity at a future date, which determines payments required for participation in the program and manages a portfolio of assets purchased with the participation payments, said system comprising: means for determining the payment required for participation in the program based on the cost of the service or commodity at time of payment, data concerning the expected time rate of change of the cost of said service or commodity, and the time period from the present to said future date; means for entering participation payment data into the data processing system; asset position list means for storing an asset position list including information concerning the portfolio of assets purchased with the participation payments; means for periodically processing said participation payment data to determine the total of said participation payment data for a period for which said periodic processing is performed; means responsive to said total participation payment data and to information from said asset position list for providing portfolio management data so that assets can be selectively purchased or sold to provide that the yield of the portfolio and the cash flow from the portfolio are adequate for funding program payouts; and means for generating a management report including said portfolio management data and said information in said asset position list.

Claim 54

A data processing system for administering a program to provide a future return adequate to meet payouts for funding the uncertain cost of a service or commodity at a future date, which determines payments required for participation in the program and manages a portfolio of assets purchased with the participation payments, said system comprising: means for determining the payment required for participation in the program based on the cost of the service or commodity at time of payment, data concerning the expected time rate of change of the cost of said service or commodity, and the time period from the present to said future date; means for entering participation payment data into the data processing system; asset position list means for storing an asset position list including information concerning the portfolio of assets purchased with the participation payments; means for periodically processing said participation payment data to determine the total of said participation payment data for a period for which said periodic processing is performed; means responsive to said total participation payment data and to information from said asset position list for providing portfolio management data so that assets can be selectively purchased or sold to provide that the yield of the portfolio and the cash flow from the portfolio are adequate for funding program payouts; and means for generating a management report including said portfolio management data and said information in said asset position list.

Claim 55

The data processing system of claim 45, further comprising means for entering the selected asset purchase and sale transaction data, to update the asset position list.

Claim 56

The data processing system of claim 45, wherein the means for providing portfolio management data comprises: means for determining the net change in asset position in response to information concerning the net amount of transactions, reinvestment cash flow from the portfolio, and actuarial data; and means responsive to the net change in asset position determination and to data inputs concerning investment criteria and projected interest rates for selecting assets to be purchased or sold, and for evaluating the effect of the selected asset purchases or sales on the portfolio to identify selections which cause cash inflow from the portfolio to be less than the total of projected program payouts.

Claim 57

The data processing system of claim 45, further comprising account list means for storing an account list including current information for each participant account.

Claim 58

A data processing method for administering a program to provide a future return adequate to meet payouts for funding the uncertain cost of a service or commodity at a future date, which determines payments required for participation in the program and manages portfolio of assets purchased with the participation payments, said method comprising the steps of: determining the payment required for participation in the program based on the cost of the service or commodity at time of payment, data concerning the expected time rate of change of the cost of said service or commodity, and the time period from the present to said future date; entering participation payment data; storing an asset position list including information concerning the portfolio of assets purchased with the participation payments; periodically processing said participation payment data to determine the total of said participation payment data for a peiod for which said periodic processing is performed; providing portfolio management data in response to said total participation payment data and to information from said asset position list, so that assets can be selectively purchased or sold to provide that the yield of the portfolio and the cash flow from the portfolio are adequate for funding program payouts; and generating a management report including said portfolio management data and said information in said asset position list.

Claim 59

A data processing method for administering a program to provide a future return adequate to meet payouts for funding the uncertain cost of a service or commodity at a future date, which determines payments required for participation in the program and manages portfolio of assets purchased with the participation payments, said method comprising the steps of: determining the payment required for participation in the program based on the cost of the service or commodity at time of payment, data concerning the expected time rate of change of the cost of said service or commodity, and the time period from the present to said future date; entering participation payment data; storing an asset position list including information concerning the portfolio of assets purchased with the participation payments; periodically processing said participation payment data to determine the total of said participation payment data for a peiod for which said periodic processing is performed; providing portfolio management data in response to said total participation payment data and to information from said asset position list, so that assets can be selectively purchased or sold to provide that the yield of the portfolio and the cash flow from the portfolio are adequate for funding program payouts; and generating a management report including said portfolio management data and said information in said asset position list.

Claim 60

The data processing method of claim 49, further comprising entering the selected asset purchase and sale transaction data, to update the asset position list.

Claim 61

The data processing method of claim 49, further comprising storing an account list including current information for each participant account.

Claim 62

The data processing method of claim 49, wherein the step of providing portfolio management data comprises the steps of: determining the net change in asset position in response to information concerning the net amount of transactions, reinvestment cash flow from the portfolio, and actuarial data; and responsive to the net change in asset position determination and to data inputs concerning investment criteria and projected interest rates, selecting assets to be purchased or sold, and evaluating the effect of the selected asset purchases or sales on the portfolio to identify selections which cause cash inflow from the portfolio to be less than the total of projected program payouts.