Question: How does a defined-benefit plan differ from a defined-contribution plan? What role do mutual funds play in 401(k) plan? What is the difference between a

How does a defined-benefit plan differ from a defined-contribution plan? What role do mutual funds play in 401(k) plan? What is the difference between a 401(k) plan and a Roth 401(k) plan? Why do Novy-Marx and Rauh get different estimates of the present value of public pension promises? How do they differ from the official estimates

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