The effectiveness of Defined Contribution plans can be improved by increasing the participant savings rate, allowing for longevity-risk pooling, employing professional return/risk management, reducing administrative costs, and optimizing withdrawal timing/amounts.
ILMANEN, A., KABILLER, D. G., SIEGEL, L. B., & SULLIVAN, R. N.
(2017). Defined Contribution Retirement Plans Should Look and Feel More
Like Defined Benefit Plans. Journal Of Portfolio Management, 43(2), 61-76.
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