Key Terms
- Support ratio: The number of people of working age compared with the number of people beyond retirement age.
- Participation rate: The proportion of the population that is in the labor force.
- Defined benefit: A pension linked to the employee's salary, where the risk falls on the employer to pay a contractual amount.
- Defined contribution: A pension dependent on the amount contributed and related investment performance, where the risk falls mainly on the employee.
Read more about this topic: Pensions Crisis
Famous quotes containing the words key and/or terms:
“It so happened that, a few weeks later, “Old Ernie” [Ernest Hemingway] himself was using my room in New York as a hide-out from literary columnists and reporters during one of his rare stopover visits between Africa and Key West. On such all-too-rare occasions he lends an air of virility to my dainty apartment which I miss sorely after he has gone and all the furniture has been repaired.”
—Robert Benchley (1889–1945)
“Suppose you go to war, you cannot fight always; and when, after much loss on both sides, and no gain on either, you cease fighting, the identical old questions, as to terms of intercourse, are again upon you.”
—Abraham Lincoln (1809–1865)