according to the guaranteed interest rate for the remainder of the contract term in an embodiment of the method the transfer of the account value is a one time transfer in an embodiment of the method the annuitant exercises the option to request a transfer of the account balance at the start of the contract term and the transfer takes place automatically when the reset interest rate falls below the guaranteed interest rate in an embodiment of the method the reset interest rate is based upon an external index in an embodiment of the method the reset interest rate is declared on an annual basis a data processing method for administering a deferred annuity account with a declared contract period has an interest rate earned by premiums deposited by an annuitant set to a guaranteed interest rate declared at the time the annuity is issued and the annuitant has the option of selecting the guaranteed rate or a reset interest rate which is declared annually and the annuitant has the further option of selecting the reset interest rate initially and transferring the annuitant 39 s account balance to an account earning the guaranteed interest rate when the guaranteed rate is higher than the reset interest rate such transfer being a one time irrevocable transfer lasting until expiration of the contract period a deferred annuity product includes a means for calculating and paying a guaranteed interest rate on deposited premiums to generate an account value in a first account b means for calculating a reset interest rate on an annual basis and paying the reset interest rate on deposited premiums to generate an account value in a second account c means for identifying when the guaranteed interest rate.