Asset Allocation of Retirement Plans: An Analysis of OECD Panel Data

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2012-01-01
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Gudmunson, Clinton
Associate Professor
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Hong, Gong-Soog
Professor Emeritus
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Human Development and Family Studies

The Department of Human Development and Family Studies focuses on the interactions among individuals, families, and their resources and environments throughout their lifespans. It consists of three majors: Child, Adult, and Family Services (preparing students to work for agencies serving children, youth, adults, and families); Family Finance, Housing, and Policy (preparing students for work as financial counselors, insurance agents, loan-officers, lobbyists, policy experts, etc); and Early Childhood Education (preparing students to teach and work with young children and their families).

History


The Department of Human Development and Family Studies was formed in 1991 from the merger of the Department of Family Environment and the Department of Child Development.

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1991-present

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  • College of Human Sciences (parent college)
  • Department of Child Development (predecessor)
  • Department of Family Environment (predecessor)

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Abstract

The shift in age structure associated with aging populations has a profound impact on a broad range of economic, political and social conditions (United Nations, 2002). Specifically, increasing longevity can result in growing demands for retirement funds and rising risks for lack of money earmarked for retirement years. Longevity risk, the risk of outliving retirement savings, is a real concern for retirees. In general, social security, employer-provided pensions, and annuities purchased from personal savings are sources of income that can help retirees to manage their longevity risk (Society of Actuaries, 2006) because the benefits extend until death. A key challenge for consumers is to accumulate sufficient savings to finance the kind of lifestyle that is desired in retirement (Kerr, 2008). The role of private retirement funds is becoming increasingly important and consumers may underestimate the importance of decision-making regarding allocation of financial assets.

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This article is from Consumer Interests Annual 58 (2012): 2 pp. Posted with permission.

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Sun Jan 01 00:00:00 UTC 2012
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