1. The figures for other types of defined contribution plans are similarly low. Jeffrey R. Brown, How Should We Insure Longevity Risk in Pensions and Social Security;Center For Retirement Research at,2000
2. ) at 4. The value of a life annuity lies in its ability to solve a retiree's wealth allocation problem. It is impossible to accurately predict when any retiree will die, therefore a life annuity solves the issues of retirees' conserving too much money before death or consuming too much money before death, depleting all retirement savings;Jeffrey R Brown;How Should We Insure Longevity Risk in Pensions and Social Security,2000