A program product, a system, and method for a trustee and a pension system, one embodiment of a program product consistent with the invention comprises program code for generating or receiving a plurality of files or a reference or references to a plurality of files that form an life insurance settlement pool, wherein the insureds in the pool are not beneficiaries of that pension system; program code for issuing payment instructions and/or payment instruments to maintain each of a plurality of the life insurance settlement contracts; program code for registering in an electronic database an ownership interest for the pension system in the life insurance settlement pool and/or in each insurance settlement contract in the life insurance settlement pool; program code for electronically determining or having determined a proportionate share of the life insurance settlement pool; program code for paying out or having paid out proceeds from the insurance policies in accordance with a predetermined priority of distribution; program code for electronically generating or having generated an actuarial value of the life insurance settlement pool or an undivided interest therefore or an undivided interest in each of the life insurance settlement contracts in the pool on a periodic or other basis; and program code for communicating the actuarial value to at least one pension system that owns an undivided interest in the life insurance settlement pool.