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Book Review: “Financial Decision-Making and Retirement Security in an Aging World”

Retirees face a declining defined benefit system (DB), at the same time as the average age of the U.S. population is rising, and many people are financially illiterate. Mitchell et al. (2017) focuses on a critical topic that does not receive enough consideration when advisors develop and implement financial planning paradigms. The book recognizes the ...Read More

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How Persistent Low Returns Will Shape Saving and Retirement

Olivia S. Mitchell, Robert Clark, and Raimond Maurer, Editors
August 2018

Financial market developments over the past decade have undermined what was once thought to be conventional wisdom about saving, investment, and retirement spending. How Persistent Low Returns Will Shape Saving and Retirement explores how the weak capital market performance predicted for the next several years will shape pension saving, investment, and decumulation plans. Academics, policymakers, and industry leaders debate alternative strategies to cope with these challenges globally, as economic growth remains slow and low returns become the ‘new normal.’

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Working Papers


1. Social Interaction Effects and Individual Portfolio Choice: Evidence from 401(k) Pension Plan Investors
Timothy (Jun) Lu and Ning Tang

2. Lessons for Public Pensions from Utah’s Move to Pension Choice
Robert L. Clark, Emma Hanson, and Olivia S. Mitchell

3. Retirement Behavior and the Global Financial Crisis
Jason J. Fichtner, John W.R. Phillips, and Barbara A. Smith

4. Retirement Security and the Financial and Economic Crisis: An Overview
Raimond Maurer, Olivia S. Mitchell, and Mark Warshawsky

Pension Research Council
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