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 &# 39 ; s account value . the lifetime payout may be funded by a plan distributed annuity 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 .