Regional Vice President of Sales The Retirement Plan Company
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Bates & Company, Inc.
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AimPoint Pension
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Loan & Distribution Specialist AimPoint Pension
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Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
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Compass
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Risk Management for the Future: Age, Risk, and Choice Architecture
NETSPAR and the Robert Wood Johnson Foundation July 9, 2012
"This study [examines] how different age groups process choices in relation to future risk and retirement planning in diverse decision-making environments.... [W]hen cognitive resources are available older participants opt for more prudent and future oriented financial and retirement choices, but ... this pattern does not hold in situations that do not allow the luxury of executive control override.... At a theoretical level ... much of the difference in financial choices between older and younger decision makers rests in the ability of each age group to override their intuitive and automatic responses to such decisions. At the policy level, as the regulatory field is moving from command-and-control rules to the provision of menu options and choice architecture, [these] findings provide potential guidelines for better designing retirement and savings plans, such as the implementation of [Save More Tomorrow-style] programs and the encouragement of annuity over lump sum retirement benefits."
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