[ THE FEDERAL RESERVE BANK OF ST. LOUIS ] [ 1996 ANNUAL REPORT ]As we approach our golden years, we all hope and plan for financial security in retirement. For genera- tions, such ho
pes were fulfilled in part by Social Security, with each generation depending on the next for funding. This chain of succession forms the basis for public pension systems throughout the world--but as our populations and our economies
change, so must the system.
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