Horneff, Vanya; Liebler, Daniel; Maurer, Raimond; … - 2019
-back guarantees. These guarantees influenced participant consumption, saving, and investment behavior in the higher interest rate … savers' wellbeing of implementing market-based retirement account guarantees, using a life cycle consumption and portfolio … that abandoning these guarantees could enhance old-age consumption for over 80% of retirees, particularly lower earners …