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|Liquidity in Retirement Savings Systems: An International Comparison|
National Bureau of Economic Research [NBER]
May 18, 2015
"This paper compares the liquidity that six developed economies have built into their employer-based defined contribution (DC) retirement savings systems. We find that all of them, with the sole exception of the United States, have made their DC systems overwhelmingly illiquid before age 55."
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