A unit of Morningstar Inc. has received intellectual rights protection for a technique for helping retirees guard against the risk of living longer than they had expected.
Peng Chen, the president of Morningstar’s Ibbotson Associates unit, and Moshe Milevsky, an associate professor at York University, have received Patent Number 7,120,01 from the U.S. Patent Office for their system for optimizing asset and product allocations for retirees, according to Morningstar, Chicago.