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This paper evaluates a new variant of the popular target date funds used in employer-based retirement savings plans. We … call this new variant a "target retirement plan." Instead of increasing the allocation to bond funds as retirement … approaches, a target retirement fund gradually purchases deferred life annuities beginning at age 50. In the particular straw …
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Delaying Social Security claiming is equivalent to buying an annuity, as individuals who delay forgo current benefits in exchange for higher monthly benefits in the future. Despite growing evidence that this annuity is offered on extremely generous terms, the majority of people claim well before...
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The contributors to this volume assess the impact of policies and regulations and provide detailed analysis of specific components of the pension system, including taxation, Social Security reform, hybrid plans, pension guarantees, and nondiscrimination rules
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In the past several decades, pension plans have become one of the most significant institutional influences on labor and financial markets in the U.S. In an effort to understand the economic effects of this growth, the National Bureau of Economic Research embarked on a major research project in...
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