Tag: annuity
Introduction Since 1965, academics have argued that individuals should annuitize a large part of their wealth. However, for nearly as long, studies have documented that annuitization rates fall far short of what seem to be optimal levels. Researchers have proposed multiple explanations for this potentially sub-optimal outcome. This brief, based on a recent study, assesses…
Retirement for workers in state, county and municipal government fits a certain picture: a regular monthly pension payment awaits them. But there are important exceptions, which a recent study has filled in. A small minority of public sector workers get some or all of their retirement benefits in the form of a one-time cash payment…
