Retirement Saving, Annuity Markets, and Lifecycle Modeling. James Poterba 10 July 2008. Outline. Shifting Composition of Retirement Saving: Rise of Defined Contribution Plans Mortality Risks in Retirement Existing Annuity Products: Prices and Quantities Explaining Small Annuity Markets
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10 July 2008
U’(Ct,a) = St,a*[(1+rt)/(1+δ)]*U’(Ct+1,a+1)