Academic literature on the topic 'Individual retirement accounts – Korea'

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Journal articles on the topic "Individual retirement accounts – Korea"

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Choi, Sujung. "Determinants of Investing in Risky Assets by IRP(individual retirement pension) Holders: Analyses of Gender and Age Factors." Korean Data Analysis Society 24, no. 5 (October 31, 2022): 1837–48. http://dx.doi.org/10.37727/jkdas.2022.24.5.1837.

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This study investigates the determinants of investing in risky assets by IRP(individual retirement pension) holders. The KOSIS(Korean Statistical Information Service) recently started to provide individual-level annual microdata on retirement pension holders from 2015 to 2020 through Microdata Integrated Service(MDIS). The microdata includes all nationwide retirement pension holders with their demographic information such as gender and age. Using the microdata, this study examines the IRP tenure, gender, and age factors which could be related to the investors’ behavior of choosing risky products such as stocks and bonds relative to risk-free assets(i.e., time deposits). In particular, the number of IRP holders has dramatically increased because of the changes in regulation that allows special occupation pension holders and self-employed persons to join the IRP since 2017. The total number of IRP holders was 745,801 in 2015 and became 2,444,765 in 2020; the number of IRP holders who have a balance of risky assets in their accounts has also increased 4.73 times more in 2020 than in 2015. We compare odds ratios and marginal effects by employing the annual cross-sectional logistic regressions and find that the probability of investing in risky assets is 4.72%(2.58%) higher for male IRP holders than for female IRP holders in 2015(2020). Newly joining IRP holders since 2017 are more likely to keep their accounts than prior IRP holders; 20s and 30s IRP holders in 2019 and 2020 are more interested in choosing risky products than before.
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Yeh, Chung-Yang, Hyunwook Cheng, and Shih-Jiunn Shi. "Public–private pension mixes in East Asia: institutional diversity and policy implications for old-age security." Ageing and Society 40, no. 3 (September 25, 2018): 604–25. http://dx.doi.org/10.1017/s0144686x18001137.

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AbstractPrevious studies of East Asian welfare regimes focus on similarities between social security schemes. In contrast, this paper explores cross-national variations in public–private pension mixes in six welfare states: China, Hong Kong, Japan, Singapore, South Korea and Taiwan. Our research echoes the pension policy analysis of international organisations but takes a step forward with emphasis on the historical and institutional characteristics of the respective pension systems. The analysis identifies three institutional patterns. First, the statist pension system (Taiwan and China) primarily relies on public pensions to provide old-age security, with private pensions playing a rather minor role. Second, in the dualist pension system (Japan and Korea) both public and private pensions work in parallel to ensure retirement income, though a clear security gap exists between workers in the formal and informal economies. Finally, the individualist pension system (Hong Kong and Singapore) is characterised by genuine fully funded individual accounts, emphasising citizens’ own responsibilities for ensuring old-age security. These three types of pension systems demonstrate distinct institutional characteristics and policy outcomes, illustrated by the juxtaposition of their institutional structures as well as by the comparison of key indicators collected from government reports and Organisation for Economic Co-operation and Development statistics. The paper concludes with a theoretical reflection of East Asian pension policies and a diagnosis of the distinct challenges confronted by each of the various pension patterns.
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Garcia, Maria Teresa Medeiros. "Individual Retirement Accounts in Portugal." Mediterranean Journal of Social Sciences 11, no. 1 (January 10, 2020): 97. http://dx.doi.org/10.36941/mjss-2020-0010.

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In Portugal, Individual Retirement Accounts (IRAs) were created with significant tax incentives in 1989. To inform the debate with research findings, the purpose of this paper is to analyze the determinants of IRAs’ participation, both for retired and no-retired persons. The paper uses ASF (Portuguese Insurance and Pension Funds Supervisory Authority) Statistics and European Survey of Health, Ageing and Retirement in Europe (Share) database, Wave 4, and a probit model. The results show that the variables that have a positive and significant impact on the ownership of IRAs are age, years of education, income, and house ownership.
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Malliaris, A. G., and Mary E. Malliaris. "Investment principles for individual retirement accounts." Journal of Banking & Finance 32, no. 3 (March 2008): 393–404. http://dx.doi.org/10.1016/j.jbankfin.2007.06.008.

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Gravelle, Jane G. "Do Individual Retirement Accounts Increase Savings?" Journal of Economic Perspectives 5, no. 2 (May 1, 1991): 133–48. http://dx.doi.org/10.1257/jep.5.2.133.

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Do IRAs increase savings or are they merely a windfall for otherwise well-off taxpayers? A major objective of universal IRAs was to encourage saving for retirement. A spirited debate has ensued over the use of IRA tax deductions as a means of promoting private savings. The crucial policy issue is not whether IRA contributions were substantial; they clearly were, representing about 30 percent of personal savings from 1982 to 1986. Rather the important question is the source of IRA contributions. IRAs can be financed out of 1) tax savings themselves; 2) shifting existing assets into IRAs; 3) borrowing; 4) diverting new savings into IRAs; or 5) reducing consumption. The key question is how much of IRA savings comes from reduced consumption. For overall savings to increase, private savings must increase by more than the tax savings. Conventional economic theory and evidence strongly suggests that IRAs were not effective savings incentives. The challenge to this view rests largely on studies which have appealed to a variety of “psychological” factors not normally incorporated in economic analysis. This paper reviews both types of analysis and concludes that the conventional view remains sound. Thus, a dollar devoted to deficit reduction is likely to be a safer bet for increasing savings than a dollar devoted to IRA benefits.
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Kilgour, John G. "The Role and Importance of Individual Retirement Accounts." Compensation & Benefits Review 52, no. 1 (January 2020): 19–26. http://dx.doi.org/10.1177/0886368720903842.

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What are now called “traditional IRAs” (Individual Retirement Accounts) were created by the Employee Retirement Income Security Act of 1974. Roth IRAs were added in 1997. Employer-sponsored Simplified Employee Pensions–IRAs were added in 1978 and Savings Investment Match Plans for Employees–IRAs (and 401(k)s) in 1996. Together IRAs hold $8.8 trillion in assets, one third of the total $27.1 trillion in all retirement plans. This article examines the role and importance of IRAs in the U.S. retirement system and the development of the different types of IRAs and their interaction with each other.
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Shobe, M. A., and S. L. Sturm. "Youth Individual Development Accounts: Retirement Planning Initiatives." Children & Schools 29, no. 3 (July 1, 2007): 172–81. http://dx.doi.org/10.1093/cs/29.3.172.

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Kelly, William A., and James A. Miles. "A fisherian analysis of individual retirement accounts." Atlantic Economic Journal 15, no. 2 (July 1987): 1–10. http://dx.doi.org/10.1007/bf02316841.

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Kitao, Sagiri. "Individual Retirement Accounts, saving and labor supply." Economics Letters 108, no. 2 (August 2010): 197–200. http://dx.doi.org/10.1016/j.econlet.2010.05.011.

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Le Blanc, Julia, and Almuth Scholl. "OPTIMAL SAVINGS FOR RETIREMENT: THE ROLE OF INDIVIDUAL ACCOUNTS." Macroeconomic Dynamics 21, no. 6 (July 7, 2016): 1361–88. http://dx.doi.org/10.1017/s1365100515000899.

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We employ a life-cycle model with income risk to analyze how tax-deferred individual accounts affect households' savings for retirement. We consider voluntary accounts as opposed to mandatory accounts with minimum contribution rates. We contrast add-on accounts with carve-out accounts that partly replace social security contributions. Quantitative results suggest that making add-on accounts mandatory has adverse welfare effects across income groups. Carve-out accounts generate positive welfare effects across all income groups, but gains are lower for low income earners. Default investment rules in individual accounts have a modest impact on welfare.
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Dissertations / Theses on the topic "Individual retirement accounts – Korea"

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Jamaludin, Nurasyikin. "Individual retirement savings behaviour : evidence from Malaysia." Thesis, Edith Cowan University, Research Online, Perth, Western Australia, 2012. https://ro.ecu.edu.au/theses/432.

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This thesis investigates factors that influence individuals‟ investment choice decisions within the context of retirement savings in Malaysia. The focus is on individuals‟ likelihood of investing part of their retirement savings in approved unit trusts (also known as mutual funds). In addition, individuals‟ choice of fund and mutual fund selection criteria are also explored. This thesis utilised questionnaire-based surveys to solicit responses from members of the Employees Provident Fund (EPF), as well as from unit trust consultants. Data collected from 440 EPF members and 561 unit trust consultants were analysed using statistical procedures of SPSS version 18.0 (also known as PASW 18). The results of logistic regression models revealed three significant predictors of individuals‟ likelihood to invest part of their retirement savings in the unit trusts: perceived importance of financial advisor, financial risk tolerance, and perceived plan design. Financial knowledge appeared to be insignificant in influencing individuals‟ investment choice decision. Furthermore, the thesis found that religious affiliation, religious commitment and Muslim religiosity had no significant effect in individuals‟ investment choice decision. In terms of demographic variables, gender, age, and marital status were all found to be significant predictors of individuals‟ likelihood to invest part of their retirement savings in the unit trusts. With respect to mutual fund selection criteria, the thesis found that the fund‟s commitment to Islamic principles, past performance of fund and overall reputation of fund were the top three criteria considered important by the EPF members. In contrast, from the consultants‟ point of view, the top three criteria considered important were the past performance of fund, overall reputation of fund, and fund ratings. Although the earlier results indicated no significant effect of religion on the individuals‟ likelihood to invest part of their retirement savings in the unit trusts, additional analyses revealed that religious affiliation, religious commitment, and Muslim religiosity had significant influence on the individuals‟ choice of unit trust fund. Several implications emerge from these empirical findings. First, the thesis highlighted the role of the unit trust consultants in individuals‟ investment decision making. Therefore, fund management companies and the governing body of the unit trust consultants should ensure that ongoing training is provided so that proper advice and recommendations can be delivered to the consultants‟ clients. Next, the thesis provided insightful information to the EPF as the policy maker, on the retirement savings behaviour of its members. In particular, the study presented the first evidence with regard to the EPF Members Investment Scheme (MIS), a unique feature that differentiated this retirement plan from its counterparts in emerging countries, as well as developed countries. Last, but not least, given that Malaysia is a multi-cultural nation, the findings of the thesis suggest that religion had some effect on individuals‟ choice of fund. Therefore, fund management companies might make use of the information provided by the thesis in better promoting their funds.
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Gibler, Rhonda K. "Participation in tax deferred retirement programs in a defined benefit environment." Diss., Columbia, Mo. : University of Missouri-Columbia, 2006. http://hdl.handle.net/10355/4428.

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Thesis (Ph.D.)--University of Missouri-Columbia, 2006.
The entire dissertation/thesis text is included in the research.pdf file; the official abstract appears in the short.pdf file (which also appears in the research.pdf); a non-technical general description, or public abstract, appears in the public.pdf file. Title from title screen of research.pdf file viewed on (February 27, 2007) Vita. Includes bibliographical references.
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Newman, David B. "Mitigating the inequity of the military retirement system by changing the rules governing individual retirement accounts for service members." Monterey, Calif. : Springfield, Va. : Naval Postgraduate School ; Available from National Technical Information Service, 1997. http://handle.dtic.mil/100.2/ADA340966.

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Thesis (M.S. in Management) Naval Postgraduate School, December 1997.
"December 1997." Thesis advisor(s): David R. Henderson. Includes bibliographical references (p. 111-113). Also available online.
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Kang, Wansub. "Individual and national financial decision-making on retirement : illustration of Republic of Korea." Master's thesis, Instituto Superior de Economia e Gestão, 2020. http://hdl.handle.net/10400.5/21086.

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Mestrado em Actuarial Science
O ponto fulcral da sociedade, independentemente da época ou país, é o tempo de vida. Antigamente, atingir os 60 anos era motivo de celebração especial. Agora, no século XXI, é comum atingir os 65 anos. O paradigma do ciclo de vida tem mudado bruscamente e encontramos numa situação em tempos inimaginável. Durante a tese, analisam-se vários modelos de decisão financeira da reforma da República da Coreia. Os princípios básicos da análise são o valor temporal do dinheiro e as probabilidades associadas ao valor atual e ao valor atual atuarial. No que diz respeito à decisão financeira relativo ao indivíduo apresentamos a equação de anuidade de Leonardo Fibonacci e Edmond Henry como casos históricos. Posteriormente, aplica-se a taxa de troca e a probabilidade de ruína para chegar a conclusões uteís. Relativamente à decisão financeira numa dimensão nacional, a taxa de mortalidade e a esperança média de vida aos 65 anos são projetadas considerando melhorias na mortalidade. Para avaliar a sustentabilidade de pensões públicas, projeta-se a população e a respetiva taxa de dependência. Por fim discutimos a sustentabilidade das pensões públicas é discutida tendo em consideração reportes publicados e avaliações atuariais. É ainda demonstrado o triângulo de séries de potências com polinómios (Número de Euler) com a aplicação da distribuição geométrica. Com esta tese queremos ajudar indivíduos a tomar decisões informadas. Ao governo, sugere medidas a tomar que permitam ao sistema de pensões adaptar-se às mudanças demográficas rápidas que se esperam para as próximas décadas.
Not to mention of all times and countries, life span is the main subject in society. Reaching at age 60 was regarded as a great event and people specially celebrated. In the twenty-first century, it is common to reach age 65. The paradigm of life cycle is gravely changed and we face somewhat a different world beyond imagination. Throughout the thesis, various financial decision-making models on retirement are analyzed and applied to the statistics of Republic of KOREA. The basic principles are the time value of money and the probability encompassing PV (Present Value) and APV (Actuarial Present Value). When it comes to individual dimension of financial decision-making, we present Leonardo Fibonacci and Edmond Henry annuity equation as historical cases. Then, exchange ratio and ruin probability reckon remarkable numbers and draw practical implications. As for national dimension of financial decision-making, above all mortality rate and life expectancy at age 65 are projected with reflecting mortality improvement. In order to assess public pension, projection on population and dependency ratio are preceded beforehand. With the result of published reports, actuarial valuation and sustainability of public pension are discussed. Besides, the invention of "Polynomial Power Series Triangle" (Eulerian number) is illustrated with the application of geometric distribution. The thesis intends to help individuals to make an informed decision. For government, it suggests taking full-fledging measurements for existing pension system of Republic of Korea in 2023 to take the impact of swift demographic change in decades into consideration.
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Skulski, Bohdan J. (Bohdan Jan) Carleton University Dissertation Law. "The Exigibility of RRSPs on account of income tax arrears." Ottawa, 1999.

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Lindqvist, Angela, and Fredrik Sott Kedestad. "Med alla korten på bordet : Vilken sparform skulle du välja för att pensionsspara privat?" Thesis, Karlstads universitet, Fakulteten för ekonomi, kommunikation och IT, 2013. http://urn.kb.se/resolve?urn=urn:nbn:se:kau:diva-27557.

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Efter det svenska pensionssystemets reform 1998 har ett missnöje väckts hos många pensionssparare. Den allmänna pensionen tillsammans med tjänstepensionen räcker inte alltid till och därför finns det möjlighet till ett eget avdragsgillt privat pensionssparande. Det har dock visat sig att det avdragsgilltiga privata pensionssparandet är en ekonomisk förlustaffär för 76 procent av pensionsspararna. Då ett privat pensionssparande inte alltid är lönsamt, finns det frågeställningar angående om hur spararna bör agera. Syftet med studien är att undersöka vilka långsiktiga sparalternativ som finns för ett privat pensionssparande, utifrån en sparares perspektiv. Vidare ska vi belysa vilka faktorer som påverkar en individs val mellan de långsiktiga sparalternativ som finns. Slutligen ska vi förklara hur ett långsiktigt sparande skiljer sig åt beroende på vilken beskattningsbar förvärvsinkomst individen har. Studien har använt sig av metodtriangulering, genom att först genomföra en kvalitativ undersökning med bankaktörer, för att sedan genomföra en kvantitativ webbenkät. Analysen ledde fram konklusionen att det finns många långsiktiga sparformer att välja mellan, dock är valet av sparform högst individuellt. Vad gäller ett privat pensionssparande är denna sparform lönsammast för höginkomsttagare, på grund av skattesystemets utformning. Enligt denna uppsats empiriska resultat, har ett privat pensionssparande vissa fördelar jämfört med ett alternativt sparande. Detta indikerar att ett privat pensionssparande aldrig bör bytas ut, utan bör ses som ett komplement till ett alternativt långsiktigt sparande.
The aim with this paper is to examine which long-term saving alternatives there are for a private pension saving, from a savers perspective. Furthermore, we shall illuminate which factors that influence an individual’s choice between the long-term saving options that exists. Finally, we are going to explain how a long-term saving deviate due to which taxable income the individual have. In the frame of reference we introduce how the saving looks like in Sweden. Furthermore, former research and theories are introduced, which aims to illuminate the factors that influence the saver’s decision about saving alternative. The paper uses method triangulation, by first implementing a qualitative interview study with bank participants, followed by a quantitative questionnaire study online. The analysis leads to the conclusion that there are many saving forms to choose amongst, but the choice of saving form are very individual. In terms of a private pension saving this saving form are most profitable for high income earners, due to how the tax system is designed. According to the empirical results of this paper, a private pension saving have certain advantages compared with an alternative saving. This indicates that a private pension saving should not be replaced, but rather should be seen as a compliment to an alternative long-term saving.
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Books on the topic "Individual retirement accounts – Korea"

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Hakala, Donald J. Individual retirement accounts. 2nd ed. Chicago, Ill: Dearborn, R&R Newkirk, 1994.

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Franks, Cheryl. Individual retirement accounts. Chicago, IL: Institute of Financial Education, 1997.

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Franks, Cheryl. Individual retirement accounts. 9th ed. Chicago, IL: BAI, 2002.

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Individual retirement accounts. Chicago, Ill: Longman Financial Services Pub., 1989.

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Burnes, Felix R. Individual retirement accounts: A primer. Hauppauge, NY: Nova Science Publishers, 2009.

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Service, United States Internal Revenue. Individual retirement arrangements (IRAs). [Washington, D.C.?]: Dept. of the Treasury, Internal Revenue Service, 1989.

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United States. General Accounting Office. Health, Education, and Human Services Division. Social security retirement accounts. Washington, D.C: The Office, 1994.

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Poterba, James M. Valuing assets in retirement saving accounts. Cambridge, MA: National Bureau of Economic Research, 2004.

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Lachance, Marie-Eve. Understanding individual account guarantees. Cambridge, MA: National Bureau of Economic Research, 2002.

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Self-directed IRAs for the active investor: Taking charge of building your nest egg. Chicago, Ill: Probus Pub. Co., 1986.

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Book chapters on the topic "Individual retirement accounts – Korea"

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Skinner, Jonathan. "Individual Retirement Accounts." In The New Palgrave Dictionary of Economics, 1–5. London: Palgrave Macmillan UK, 2008. http://dx.doi.org/10.1057/978-1-349-95121-5_2031-1.

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Skinner, Jonathan. "Individual Retirement Accounts." In The New Palgrave Dictionary of Economics, 6302–6. London: Palgrave Macmillan UK, 2018. http://dx.doi.org/10.1057/978-1-349-95189-5_2031.

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Birdthistle, William A. "401(k)s and Individual Retirement Accounts." In Empire of the Fund, 141–61. Oxford University Press, 2016. http://dx.doi.org/10.1093/acprof:oso/9780199398560.003.0011.

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Holden, Sarah, and Brian Reid. "The Role of Individual Retirement Accounts in US Retirement Planning." In Recalibrating Retirement Spending and Saving, 81–111. Oxford University Press, 2008. http://dx.doi.org/10.1093/acprof:oso/9780199549108.003.0005.

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"The Costs of Annuitizing Retirement Payouts from Individual Accounts." In The Role of Annuity Markets in Financing Retirement. The MIT Press, 2001. http://dx.doi.org/10.7551/mitpress/6007.003.0006.

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Gajewski, Paula K. "The President and American Retirement Planning." In The President and American Capitalism Since 1945. University Press of Florida, 2017. http://dx.doi.org/10.5744/florida/9780813056524.003.0012.

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In 1974, President Gerald Ford signed the Employee Retirement Income Security Act, which revolutionized American private retirement practices. The legislation created the Individual Retirement Account (IRA), the cornerstone of modern retirement planning. The creation of massive individual and corporate retirement accounts has significantly reshaped financial markets.
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Samborski, Adam. "Złożoność wyboru w decyzjach inwestycyjnych." In Przedsiębiorczość, strategie i metody zarządzania przedsiębiorstwem. Wydawnictwo Uniwersytetu Łódzkiego, 2014. http://dx.doi.org/10.18778/7969-097-8.10.

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The Fundamental questions in all pension systems concern the choices made by individual. The most important issues are: whether and to what extent individuals should determine the choice of pension products provided; whether and to what extent individuals should determine the choice of investment portfolios; whether and to what extent individuals should determine the choice of stream of income in retirement. Consideration in this text focuses on individual retirement decisions that are made in the phase of capital accumulation. The subject of inquiry is questions about the causes: the reasons for the low interest of savings in the third pillar of pension provision in Poland; the causes in variation of savers determined by gender and age; the reasons for determining the allocation of assets within the Individual Retirement Account PZU (insurance company). For this purpose, the described facts are explained by referring to the reliable knowledge of behavioral economics. The author made the analysis of basic legal regulations governing the operation of individual retirement accounts, and individual retirement savings account, as well as the analysis of basic statistics describing the market. Attention is paid to the key growth barriers of the third pillar of pension provisions in Poland and savers investment behavior within the individual retirement accounts. The text concludes proposals aimed at encouraging the development of voluntary forms of pension provision in Poland.
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"The Role of Real Annuities and Indexed Bonds in an Individual Accounts Retirement Program." In The Role of Annuity Markets in Financing Retirement. The MIT Press, 2001. http://dx.doi.org/10.7551/mitpress/6007.003.0005.

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Enis, Charles R. "Savings and framing effects on participation in individual retirement accounts: More evidence from tax return data." In Advances in Taxation, 29–64. Emerald Group Publishing Limited, 2010. http://dx.doi.org/10.1108/s1058-7497(2010)0000019004.

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Han, Donghee, and Kathryn L. Braun. "Promoting Active Ageing through Technology Training in Korea." In Digital Literacy, 572–89. IGI Global, 2013. http://dx.doi.org/10.4018/978-1-4666-1852-7.ch030.

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By 2050, people aged 60 and older will comprise 33% of Korea’s population, up from about 12% currently. In many occupational sectors, women retire at 55 and men at 60. This rapidly shifting demographic requires a new perspective on retirement and a better image of older persons in Korea. In line with the Active Ageing Framework of the World Health Organization, the Active Ageing Consortium in Asia Pacific (ACAP) advocates for changes to individual practices, social norms, and social policy to support the continued engagement of older adults as active contributors to society in the 21st century. Digital literacy is a critical element of Active Ageing, enhancing participation in today’s modes of communication and social connectivity. To promote the concept of Active Ageing with Digital Ageing, Korea’s Research Institute of Science for the Better Living of the Elderly (RISBLE) aims to increase Korean elders’ access to information and their opportunities for communication and participation. RISBLE’s programs—Cyber Family, Internet Navigator, and the 1080 Family Online Game Festival—help elders master new technology, strengthen intergenerational relations, gain leadership roles, and contribute as community teachers. This chapter reviews the Korean situation of ageing, outlines ACAP’s commitment to Active Ageing with Digital Ageing, and presents information on three RISBLE programs. These “best practices” are shared in hopes that other communities can learn from RISBLE’s work to reduce the ageing digital divide and promote digital life for older persons in South Korea.
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Conference papers on the topic "Individual retirement accounts – Korea"

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Cathcart, Henry, Christopher Meyer, Mark Joyce, and Richard Green. "Probabilistic Lifing Methods for Digital Assets." In ASME Turbo Expo 2020: Turbomachinery Technical Conference and Exposition. American Society of Mechanical Engineers, 2020. http://dx.doi.org/10.1115/gt2020-16187.

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Abstract Modern industrial gas turbines (IGTs) must be capable of operational flexibility to fulfil the requirements of an evolving power industry. Base load applications require turbines to operate for long periods at full load conditions whilst load-following applications require turbines to undergo repeated start-stop cycles. Traditional design and lifing approaches, which are based around an assumed worst case operational scenario and critical damage mechanism, cannot fully represent the durability of components when exposed to flexible operation. Condition based assessments, conversely, consider multiple operating scenarios and damage mechanisms to more accurately predict the durability of components. Condition based assessments are particularly powerful when applied to digital assets, where component lives can be calculated for each individual turbine based on detailed operational data. Despite the additional data available to conduct assessments of a digital asset, the information about the asset’s manufacture, maintenance or environment is unlikely to be complete or perfect. This leads to uncertainty in the current and future condition of the asset, which must be accounted for when deciding upon maintenance, retirement or life extension. The uncertainty can be accounted for using bounding assumptions or safety factors, but these approaches often lead to overly conservative results and do not provide any insight into the underlying causes of the uncertainty. Probabilistic methodologies provide a means to accurately evaluate and interrogate this uncertainty, by explicitly considering the potential variation in calculation inputs and assumptions. The degradation of hot gas path components by creep-fatigue mechanisms often limits turbine life. Probabilistic creep-fatigue assessment methods have been developed and are used to predict and understand the uncertainty in creep-fatigue damage. However, deploying these methods across a large fleet of digital assets, each with multiple components presents several challenges: the assessments rely on Monte Carlo sampling or other discretised calculations and hence are too computationally intensive to be used in real time on a large fleet; assets have often not been digitized for their entire operating lives, hence periods of missing data must be accounted for; finally, predicting the uncertainty of future operation requires information about the likely distribution of future operating regimes. This paper presents a methodology to effectively calculate the uncertainty on hot gas path component creep-fatigue assessments across a large fleet of IGTs. The methodology divides operational periods into two categories. In the first category a full suite of operational data is available. Damage is modelled using an emulator of a full Monte Carlo assessment. The emulator accounts for the fact that different operational profiles may result in different degradation uncertainty, and that the mode of operation of an asset may change throughout its life. In the second category no information is available. This category covers both future operation and historical operation prior to the instrumentation of the asset. These periods are modelled by considering fleet-wide statistics of degradation and the pathdependency of creep-fatigue damage progression. The predictions for both categories of operation are integrated into a system that can predict distributions of the damage accumulated within a turbine component and the future progression of this damage.
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Reports on the topic "Individual retirement accounts – Korea"

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Skinner, Jonathan. Individual Retirement Accounts: A Review of the Evidence. Cambridge, MA: National Bureau of Economic Research, December 1991. http://dx.doi.org/10.3386/w3938.

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Poterba, James, and Mark Warshawsky. The Costs of Annuitizing Retirement Payouts from Individual Accounts. Cambridge, MA: National Bureau of Economic Research, January 1999. http://dx.doi.org/10.3386/w6918.

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3

Horneff, Vanya, Daniel Liebler, Raimond Maurer, and Olivia Mitchell. Implications of Money-Back Guarantees for Individual Retirement Accounts: Protection Then and Now. Cambridge, MA: National Bureau of Economic Research, October 2019. http://dx.doi.org/10.3386/w26406.

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4

Brown, Jeffrey, Olivia Mitchell, and James Poterba. The Role of Real Annuities and Indexed Bonds in an Individual Accounts Retirement Program. Cambridge, MA: National Bureau of Economic Research, March 1999. http://dx.doi.org/10.3386/w7005.

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