Compensation Strategies Group, Ltd.
Nicholas Pension Consultants
Nova 401(k) Associates
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|Researchers Claim Many Individuals Aren't Smart Enough to Manage Assets in Retirement|
Ken Steiner, FSA Retired
Apr. 8, 2015
"[A recent] research paper presents the results of a study of individuals who were asked to value a $100 change in their monthly Social Security benefit ... [R]espondents had difficulty in valuing this change and the magnitude of their difficulty was correlated to the respondent's cognitive ability.... For numerous reasons that seem to baffle academics, economists and researchers, many individuals don't value annuities as highly as the life insurance companies that sell them. This fact doesn't by itself mean that these individuals 'may not be making rational well informed decisions.' "
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