The Only Saving Rate Article You Will Ever Need

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How much do savers need to save in order to meet their retirement income goals? While a great deal of effort has been expended in search of answers to this question, it turns out that a very simple and practical answer is almost in plain sight. It is under a small rock, the rock being the ordinary and familiar time-value-of-money …

Floods and Deserts: Why the Dream of a Secure Pension for Everyone is Still Unattained

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Why have defined benefit (DB) pension plans, arguably the most elegantly engineered financial service ever created, stumbled so badly? Less than fifty years after achieving wide acceptance and providing predictable and secure benefits to their participants, many DB plans have been terminated, while others struggle to attain adequate funding levels. Many of the terminated DB plans have been replaced with …