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Introduction It is generally agreed that each generation of taxpayers should pay the full cost of the public services it receives. If a public employee’s compensation includes a defined benefit pension, the cost of the benefit earned in that year should be recognized, and funded, at the time the worker performs that service, not when…
Introduction With increasing pressure on the nation’s retirement systems, questions about how long people stay in the labor force and why they decide to retire are of great importance. The big unknown going forward is whether the contraction of the retirement income system will cause workers to continue working at older ages. The literature to…
