Three Certainties and a Speculation: Reflections of a Pension Professional
4 Pages Posted: 23 May 2009
Date Written: May 20, 2009
This article has been adapted from a pre-dinner speech delivered to the attendees of the Fall 2008 Discussion Forum of the Rotman International Centre for Pension Management, held at the Tacoma Campus of the University of Washington, in collaboration with Washington State Investment Board. The three certainties relate to the cost of retirement, the value of lifetime annuities, and the efficacy of investment education. The speculation is that satisficing trumps optimizing in pension decision-making.
Keywords: Annuities, Financial Education, Optimizing, Pension Fund, Retirement, Satisficing, Rotman
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