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Article
Asset Allocation of Retirement Plans: An Analysis of OECD Panel Data
Consumer Interests Annual
  • Shinae Choi, Iowa State University
  • Clinton G. Gudmunson, Iowa State University
  • Gong-Soog Hong, Iowa State University
Document Type
Article
Publication Version
Published Version
Publication Date
1-1-2012
Abstract
The shift in age structure associated with aging populations has a profound impact on a broad range of economic, political and social conditions (United Nations, 2002). Specifically, increasing longevity can result in growing demands for retirement funds and rising risks for lack of money earmarked for retirement years. Longevity risk, the risk of outliving retirement savings, is a real concern for retirees. In general, social security, employer-provided pensions, and annuities purchased from personal savings are sources of income that can help retirees to manage their longevity risk (Society of Actuaries, 2006) because the benefits extend until death. A key challenge for consumers is to accumulate sufficient savings to finance the kind of lifestyle that is desired in retirement (Kerr, 2008). The role of private retirement funds is becoming increasingly important and consumers may underestimate the importance of decision-making regarding allocation of financial assets.
Comments

This article is from Consumer Interests Annual 58 (2012): 2 pp. Posted with permission.

Copyright Owner
American Council on Consumer Interests
Language
en
File Format
application/pdf
Citation Information
Shinae Choi, Clinton G. Gudmunson and Gong-Soog Hong. "Asset Allocation of Retirement Plans: An Analysis of OECD Panel Data" Consumer Interests Annual Vol. 58 (2012) p. 1 - 2
Available at: http://works.bepress.com/clinton_gudmunson/3/