Shoven, John B.; Walton, Daniel - National Bureau of Economic Research - 2023
model target retirement fund examined in the paper, the defined contribution participant makes deferred life annuity … someone who stays with a traditional TDF until retirement and then buys an immediate life annuity. We examine 1,000 possible … buying a retirement annuity in advance (by accumulating deferred life annuities) is superior to sticking with a Target Date …