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Macroeconomic Effects of Increased Annuitization: A Quantitative Assessment

This paper assesses the impacts of increased annuitization on the U.S. economy through macroeconometric model simulation of a policy initiative currently in the Congress—The Lifetime Pension Annuity for You Act (Lifetime PAY Bill) introduced by Representative Earl Pomeroy (D-ND).

Lifetime Annuities for US: Evaluating the Efficacy of Policy Interventions in Life Annuity Markets

The adequacy of retirement income depends not only on how much wealth a household accumulates, but also on decisions on how to allocate and spend this wealth after retirement. Uncertainty about the length of life is crucial in decision making about allocating and spending down wealth.