Turner, John A.; Klein, Bruce W. - In: Risks : open access journal 9 (2021) 4, pp. 1-14
achieve pension portfolios that match their level of risk aversion when there is a large amount of unexplained heterogeneity … in risk aversion. Target date funds are commonly used as the default investment in defined contribution plans in the U … their expected retirement date approaches because their ability to bear financial market risk declines as the time horizon …