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This paper examines the risk aspects of a fully phased-in investment-based defined contribution Social Security plan. Individuals save a fraction of wages in a Personal Retirement Account (PRA) invested in a 60:40 equity-debt mix and receive a similarly invested variable annuity from age 67. The...
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Jousten, Pierre Pestieau -- France: the difficult path to consensual reforms / Didier Blanchet, Florence Legros -- The German …
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