Tag: financial risks
The brief’s key findings are: As life expectancy rises, more retirees will face late-life financial risks, including: high health costs, financial mistakes due to cognitive decline, and widowhood. To date, the research literature suggests that these risks severely affect only a minority of retirees, but the impact may become more widespread in the future. The reasons includ…
Abstract From 1964 until 2002, the State of Nebraska sponsored a defined contribution plan for its employees. During this period, the plan was unique among state pension plans because it was an individual account-type plan that offered participants the choice of a lump sum or annuity distribution upon retirement. Such a choice presents the opportunity…