TAILIEUCHUNG - Topics in the Economics of Aging - E. MaCurdy

For many people, the present value of their future pension annuity is their largest financial asset. The retirement income may come from a variety of pension accumulations, including defined contribution plans, defined benefit plans, individual retirement accounts, Keogh plans, and tax deferred annuityplans. | This PDF is a selection from an out-of-print volume from the National Bureau of Economic Research Volume Title Topics in the Economics of Aging Volume Author Editor David A. Wise editor Volume Publisher University of Chicago Press Volume ISBN 0-226-90298-6 Volume URL http books wise92-1 Conference Date April 5-7 1990 Publication Date January 1992 Chapter Title Stocks Bonds and Pension Wealth Chapter Author Thomas E. MaCurdy John B. Shoven Chapter URL http chapters c7098 Chapter pages in book p. 61 - 78 2 Stocks Bonds and Pension Wealth Thomas E. MaCurdy and John B. Shoven For many people the present value of their future pension annuity is their largest financial asset. The retirement income may come from a variety of pension accumulations including defined contribution plans defined benefit plans individual retirement accounts Keogh plans and tax deferred annuity plans. With many of these accumulation vehicles the individual participant bears the responsibility of determining the assets in which the funds are invested and bears any uncertainty about the rate of return that will be realized on those assets. In choosing between stocks and bonds for their pension accumulation vehicle most people probably know that bonds have a lower average return and a lower variance in return bonds offer additional safety at the expense of a lower expected outcome. While this risk-return trade-off is both correct and well understood for short-term investment horizons the extent to which it applies for long holding periods is not clear. For many workers the time between the current contribution to the retirement account and the purchase of an annuity is thirty years or more. What is the relative risk and return on stocks versus bonds for such a long horizon The pension participant typically not only has a long horizon but also makes many contributions throughout his or her career. For example faculty at Stanford University make payments to their retirement

• Ngân hàng - Tín dụng
• The Plant Health
• The Recent Advances
• The Paper Mill
• The Sludge Management
• The Finite Dimensional Methods
• The Optimal Control
• Microbial consortia
• Biocontrol agent
• Plant health
• Plant growth promoting microorganis
• Bell pepper (Capsicum annum L )
• Improving seedling health of bell pepper
• Plant health engineering
• Vegetable crops
• Pesticide application
• Plant health engineering practices
• Vegetable growers
• Industrial Effluents
• Plant and health
• Application fate of sewage
• Industrial effluents on soil
• Fungal plant pathogen
• Noble and Silver nanoparticle
• Silver nanoparticle
• Special reference to silver
• Nanocentric plant health management
• Urban gardening
• Plant pathology
• Plant health problems
• Erwinia amylovora
• Phragmidium rosae pimpinellifoliae Dietel
• Taphrina pruni
• Mineral Nutrition
• Root Absorption
• Soil Fungi
• Plant Interaction
• Plant Soil
• Microorganism Interactions
• Abiotic Stress
• SRO Family
• Characterization
• Plant Antioxidative
• Heavy Metal Toxicity
• Genetic and Molecular
• Genetic engineering
• Plant breeding
• Biofortification and human health
• Human health
• Readily available in diet
• Soil health
• Different level of sulphur
• Zinc on soil health
• Yield of Blackgram
• Plant body
• Plant density
• Seedling age
• Nutrient uptake
• Available NPK
• Modified SRI method of planting
• Nutrient uptake and soil health
• Microorganism Interaction
• Aspects of Plant
• Drought in Annual
• Crop Species
• Plant Heavy
• Metal Interaction
• Water Relations
• carefully monitored
• branded generic
• disease programmes
• Rhizosphere management
• Plant management
• Soil management
• Plant productivity
• Aerial biomass
• Health of people
• Meteorological factors
• Aerial biomass in a dairy plant
• Meteorological factors on composition
• Recent Advances
• Paper Mill
• Sludge Management
• Finite Dimensional Methods
• Optimal Control
• Intimate Relationship
• Stomatal Responses
• Stress and Air Humidity
• Genetics and Adaptation
• Plant Genes
• Angiotensin converting
• combination therapies
• Health Action International
• Nursery workers
• Demographic factors
• Occupation injuries
• Health hazards
• Pain relief