id	sid	tid	token	lemma	pos
fsr-3246	1	1	a	a	DET
fsr-3246	1	2	further	further	ADJ
fsr-3246	1	3	examination	examination	NOUN
fsr-3246	1	4	of	of	ADP
fsr-3246	1	5	equity	equity	NOUN
fsr-3246	1	6	indexed	index	VERB
fsr-3246	1	7	annuities	annuity	NOUN
fsr-3246	1	8	andy	andy	PROPN
fsr-3246	1	9	terrya	terrya	PROPN
fsr-3246	1	10	,	,	PUNCT
fsr-3246	1	11	*	*	PROPN
fsr-3246	1	12	,	,	PUNCT
fsr-3246	1	13	erick	erick	PROPN
fsr-3246	1	14	eldera	eldera	PROPN
fsr-3246	1	15	acollege	acollege	PROPN
fsr-3246	1	16	of	of	ADP
fsr-3246	1	17	business	business	NOUN
fsr-3246	1	18	,	,	PUNCT
fsr-3246	1	19	university	university	NOUN
fsr-3246	1	20	of	of	ADP
fsr-3246	1	21	arkansas	arkansas	PROPN
fsr-3246	1	22	at	at	ADP
fsr-3246	1	23	little	little	ADJ
fsr-3246	1	24	rock	rock	NOUN
fsr-3246	1	25	,	,	PUNCT
fsr-3246	1	26	2801	2801	NUM
fsr-3246	1	27	s.	s.	PROPN
fsr-3246	1	28	university	university	PROPN
fsr-3246	1	29	,	,	PUNCT
fsr-3246	1	30	little	little	ADJ
fsr-3246	1	31	rock	rock	NOUN
fsr-3246	1	32	,	,	PUNCT
fsr-3246	1	33	ar	ar	PROPN
fsr-3246	1	34	72204	72204	NUM
fsr-3246	1	35	,	,	PUNCT
fsr-3246	1	36	usa	usa	PROPN
fsr-3246	1	37	abstract	abstract	PROPN
fsr-3246	1	38	equity	equity	NOUN
fsr-3246	1	39	indexed	index	VERB
fsr-3246	1	40	annuities	annuity	NOUN
fsr-3246	1	41	(	(	PUNCT
fsr-3246	1	42	eias	eia	NOUN
fsr-3246	1	43	)	)	PUNCT
fsr-3246	1	44	are	be	AUX
fsr-3246	1	45	deferred	defer	VERB
fsr-3246	1	46	annuities	annuity	NOUN
fsr-3246	1	47	that	that	SCONJ
fsr-3246	1	48	credit	credit	NOUN
fsr-3246	1	49	interest	interest	NOUN
fsr-3246	1	50	according	accord	VERB
fsr-3246	1	51	to	to	ADP
fsr-3246	1	52	a	a	DET
fsr-3246	1	53	formula	formula	NOUN
fsr-3246	1	54	tied	tie	VERB
fsr-3246	1	55	to	to	ADP
fsr-3246	1	56	the	the	DET
fsr-3246	1	57	performance	performance	NOUN
fsr-3246	1	58	of	of	ADP
fsr-3246	1	59	an	an	DET
fsr-3246	1	60	underlying	underlie	VERB
fsr-3246	1	61	equity	equity	NOUN
fsr-3246	1	62	index	index	NOUN
fsr-3246	1	63	.	.	PUNCT
fsr-3246	2	1	this	this	DET
fsr-3246	2	2	research	research	NOUN
fsr-3246	2	3	expands	expand	VERB
fsr-3246	2	4	previous	previous	ADJ
fsr-3246	2	5	research	research	NOUN
fsr-3246	2	6	,	,	PUNCT
fsr-3246	2	7	particularly	particularly	ADV
fsr-3246	2	8	that	that	PRON
fsr-3246	2	9	of	of	ADP
fsr-3246	2	10	reichenstein	reichenstein	NOUN
fsr-3246	2	11	(	(	PUNCT
fsr-3246	2	12	2009	2009	NUM
fsr-3246	2	13	,	,	PUNCT
fsr-3246	2	14	2011	2011	NUM
fsr-3246	2	15	)	)	PUNCT
fsr-3246	2	16	,	,	PUNCT
fsr-3246	2	17	by	by	ADP
fsr-3246	2	18	examining	examine	VERB
fsr-3246	2	19	the	the	DET
fsr-3246	2	20	distribution	distribution	NOUN
fsr-3246	2	21	of	of	ADP
fsr-3246	2	22	returns	return	NOUN
fsr-3246	2	23	that	that	PRON
fsr-3246	2	24	could	could	AUX
fsr-3246	2	25	have	have	AUX
fsr-3246	2	26	been	be	AUX
fsr-3246	2	27	created	create	VERB
fsr-3246	2	28	on	on	ADP
fsr-3246	2	29	a	a	DET
fsr-3246	2	30	rolling	rolling	ADJ
fsr-3246	2	31	monthly	monthly	ADJ
fsr-3246	2	32	basis	basis	NOUN
fsr-3246	2	33	since	since	SCONJ
fsr-3246	2	34	1928	1928	NUM
fsr-3246	2	35	for	for	ADP
fsr-3246	2	36	11	11	NUM
fsr-3246	2	37	through	through	ADP
fsr-3246	2	38	15	15	NUM
fsr-3246	2	39	-	-	PUNCT
fsr-3246	2	40	year	year	NOUN
fsr-3246	2	41	investment	investment	NOUN
fsr-3246	2	42	horizons	horizon	NOUN
fsr-3246	2	43	.	.	PUNCT
fsr-3246	3	1	second	second	ADJ
fsr-3246	3	2	,	,	PUNCT
fsr-3246	3	3	we	we	PRON
fsr-3246	3	4	examine	examine	VERB
fsr-3246	3	5	investment	investment	NOUN
fsr-3246	3	6	alternatives	alternative	NOUN
fsr-3246	3	7	that	that	PRON
fsr-3246	3	8	include	include	VERB
fsr-3246	3	9	the	the	DET
fsr-3246	3	10	options	option	NOUN
fsr-3246	3	11	imbedded	imbed	VERB
fsr-3246	3	12	in	in	ADP
fsr-3246	3	13	eias	eia	NOUN
fsr-3246	3	14	.	.	PUNCT
fsr-3246	4	1	third	third	ADJ
fsr-3246	4	2	,	,	PUNCT
fsr-3246	4	3	rather	rather	ADV
fsr-3246	4	4	than	than	ADP
fsr-3246	4	5	assuming	assume	VERB
fsr-3246	4	6	constant	constant	ADJ
fsr-3246	4	7	cap	cap	NOUN
fsr-3246	4	8	rates	rate	NOUN
fsr-3246	4	9	we	we	PRON
fsr-3246	4	10	allow	allow	VERB
fsr-3246	4	11	cap	cap	NOUN
fsr-3246	4	12	rates	rate	NOUN
fsr-3246	4	13	to	to	PART
fsr-3246	4	14	vary	vary	VERB
fsr-3246	4	15	with	with	ADP
fsr-3246	4	16	interest	interest	NOUN
fsr-3246	4	17	rates	rate	NOUN
fsr-3246	4	18	.	.	PUNCT
fsr-3246	5	1	we	we	PRON
fsr-3246	5	2	find	find	VERB
fsr-3246	5	3	that	that	SCONJ
fsr-3246	5	4	for	for	ADP
fsr-3246	5	5	long	long	ADJ
fsr-3246	5	6	time	time	NOUN
fsr-3246	5	7	horizons	horizon	NOUN
fsr-3246	5	8	the	the	DET
fsr-3246	5	9	opportunity	opportunity	NOUN
fsr-3246	5	10	costs	cost	NOUN
fsr-3246	5	11	of	of	ADP
fsr-3246	5	12	investing	invest	VERB
fsr-3246	5	13	in	in	ADP
fsr-3246	5	14	eias	eias	PROPN
fsr-3246	5	15	is	be	AUX
fsr-3246	5	16	high	high	ADJ
fsr-3246	5	17	.	.	PUNCT
fsr-3246	6	1	©	©	PROPN
fsr-3246	6	2	2015	2015	NUM
fsr-3246	6	3	academy	academy	NOUN
fsr-3246	6	4	of	of	ADP
fsr-3246	6	5	financial	financial	ADJ
fsr-3246	6	6	services	service	NOUN
fsr-3246	6	7	.	.	PUNCT
fsr-3246	7	1	all	all	DET
fsr-3246	7	2	rights	right	NOUN
fsr-3246	7	3	reserved	reserve	VERB
fsr-3246	7	4	.	.	PUNCT
fsr-3246	8	1	jel	jel	PROPN
fsr-3246	8	2	classifications	classification	NOUN
fsr-3246	8	3	:	:	PUNCT
fsr-3246	8	4	g2	g2	NOUN
fsr-3246	8	5	;	;	PUNCT
fsr-3246	8	6	equity	equity	NOUN
fsr-3246	8	7	indexed	index	VERB
fsr-3246	8	8	annuities	annuity	NOUN
fsr-3246	8	9	;	;	PUNCT
fsr-3246	8	10	investments	investment	NOUN
fsr-3246	8	11	keywords	keyword	NOUN
fsr-3246	8	12	:	:	PUNCT
fsr-3246	8	13	indexed	indexed	ADJ
fsr-3246	8	14	annuities	annuity	NOUN
fsr-3246	8	15	;	;	PUNCT
fsr-3246	8	16	equity	equity	NOUN
fsr-3246	8	17	indexed	index	VERB
fsr-3246	8	18	annuities	annuity	NOUN
fsr-3246	8	19	;	;	PUNCT
fsr-3246	8	20	investments	investment	NOUN
fsr-3246	8	21	1	1	X
fsr-3246	8	22	.	.	PUNCT
fsr-3246	8	23	introduction	introduction	NOUN
fsr-3246	8	24	equity	equity	NOUN
fsr-3246	8	25	indexed	index	VERB
fsr-3246	8	26	annuities	annuity	NOUN
fsr-3246	8	27	,	,	PUNCT
fsr-3246	8	28	hereafter	hereafter	ADV
fsr-3246	8	29	eias	eia	NOUN
fsr-3246	8	30	,	,	PUNCT
fsr-3246	8	31	are	be	AUX
fsr-3246	8	32	deferred	deferred	ADJ
fsr-3246	8	33	annuities	annuity	NOUN
fsr-3246	8	34	that	that	SCONJ
fsr-3246	8	35	credit	credit	NOUN
fsr-3246	8	36	interest	interest	NOUN
fsr-3246	8	37	according	accord	VERB
fsr-3246	8	38	to	to	ADP
fsr-3246	8	39	a	a	DET
fsr-3246	8	40	formula	formula	NOUN
fsr-3246	8	41	tied	tie	VERB
fsr-3246	8	42	to	to	ADP
fsr-3246	8	43	the	the	DET
fsr-3246	8	44	performance	performance	NOUN
fsr-3246	8	45	of	of	ADP
fsr-3246	8	46	an	an	DET
fsr-3246	8	47	underlying	underlie	VERB
fsr-3246	8	48	equity	equity	NOUN
fsr-3246	8	49	index	index	NOUN
fsr-3246	8	50	.	.	PUNCT
fsr-3246	9	1	academic	academic	ADJ
fsr-3246	9	2	research	research	NOUN
fsr-3246	9	3	has	have	AUX
fsr-3246	9	4	been	be	AUX
fsr-3246	9	5	limited	limit	VERB
fsr-3246	9	6	to	to	ADP
fsr-3246	9	7	explaining	explain	VERB
fsr-3246	9	8	the	the	DET
fsr-3246	9	9	complex	complex	ADJ
fsr-3246	9	10	financial	financial	ADJ
fsr-3246	9	11	product	product	NOUN
fsr-3246	9	12	and	and	CCONJ
fsr-3246	9	13	calculating	calculate	VERB
fsr-3246	9	14	and	and	CCONJ
fsr-3246	9	15	comparing	compare	VERB
fsr-3246	9	16	returns	return	NOUN
fsr-3246	9	17	on	on	ADP
fsr-3246	9	18	eias	eia	NOUN
fsr-3246	9	19	with	with	ADP
fsr-3246	9	20	those	those	PRON
fsr-3246	9	21	of	of	ADP
fsr-3246	9	22	alternative	alternative	ADJ
fsr-3246	9	23	investments	investment	NOUN
fsr-3246	9	24	.	.	PUNCT
fsr-3246	10	1	this	this	DET
fsr-3246	10	2	research	research	NOUN
fsr-3246	10	3	expands	expand	VERB
fsr-3246	10	4	previous	previous	ADJ
fsr-3246	10	5	research	research	NOUN
fsr-3246	10	6	,	,	PUNCT
fsr-3246	10	7	and	and	CCONJ
fsr-3246	10	8	particularly	particularly	ADV
fsr-3246	10	9	that	that	PRON
fsr-3246	10	10	of	of	ADP
fsr-3246	10	11	reichenstein	reichenstein	NOUN
fsr-3246	10	12	(	(	PUNCT
fsr-3246	10	13	2009	2009	NUM
fsr-3246	10	14	,	,	PUNCT
fsr-3246	10	15	2011	2011	NUM
fsr-3246	10	16	)	)	PUNCT
fsr-3246	10	17	,	,	PUNCT
fsr-3246	10	18	in	in	ADP
fsr-3246	10	19	three	three	NUM
fsr-3246	10	20	ways	way	NOUN
fsr-3246	10	21	.	.	PUNCT
fsr-3246	11	1	first	first	ADV
fsr-3246	11	2	,	,	PUNCT
fsr-3246	11	3	rather	rather	ADV
fsr-3246	11	4	than	than	ADP
fsr-3246	11	5	examining	examine	VERB
fsr-3246	11	6	limited	limited	ADJ
fsr-3246	11	7	sub	sub	NOUN
fsr-3246	11	8	-	-	ADJ
fsr-3246	11	9	periods	period	NOUN
fsr-3246	11	10	of	of	ADP
fsr-3246	11	11	returns	return	NOUN
fsr-3246	11	12	data	datum	NOUN
fsr-3246	11	13	,	,	PUNCT
fsr-3246	11	14	we	we	PRON
fsr-3246	11	15	examine	examine	VERB
fsr-3246	11	16	the	the	DET
fsr-3246	11	17	distribution	distribution	NOUN
fsr-3246	11	18	of	of	ADP
fsr-3246	11	19	returns	return	NOUN
fsr-3246	11	20	that	that	PRON
fsr-3246	11	21	could	could	AUX
fsr-3246	11	22	have	have	AUX
fsr-3246	11	23	been	be	AUX
fsr-3246	11	24	created	create	VERB
fsr-3246	11	25	since	since	SCONJ
fsr-3246	11	26	1928	1928	NUM
fsr-3246	11	27	.	.	PUNCT
fsr-3246	12	1	second	second	ADJ
fsr-3246	12	2	,	,	PUNCT
fsr-3246	12	3	unlike	unlike	ADP
fsr-3246	12	4	previous	previous	ADJ
fsr-3246	12	5	research	research	NOUN
fsr-3246	12	6	,	,	PUNCT
fsr-3246	12	7	we	we	PRON
fsr-3246	12	8	also	also	ADV
fsr-3246	12	9	*	*	VERB
fsr-3246	12	10	corresponding	correspond	VERB
fsr-3246	12	11	author	author	NOUN
fsr-3246	12	12	.	.	PUNCT
fsr-3246	13	1	tel	tel	PROPN
fsr-3246	13	2	.	.	PUNCT
fsr-3246	13	3	:	:	PUNCT
fsr-3246	14	1	�	�	PROPN
fsr-3246	14	2	1	1	NUM
fsr-3246	14	3	-	-	SYM
fsr-3246	14	4	501	501	NUM
fsr-3246	14	5	-	-	PUNCT
fsr-3246	14	6	569	569	NUM
fsr-3246	14	7	-	-	PUNCT
fsr-3246	14	8	8872	8872	NUM
fsr-3246	14	9	;	;	PUNCT
fsr-3246	14	10	fax	fax	NOUN
fsr-3246	14	11	:	:	PUNCT
fsr-3246	14	12	�	�	PROPN
fsr-3246	14	13	1	1	NUM
fsr-3246	14	14	-	-	PUNCT
fsr-3246	14	15	501	501	NUM
fsr-3246	14	16	-	-	PUNCT
fsr-3246	14	17	683	683	NUM
fsr-3246	14	18	-	-	PUNCT
fsr-3246	14	19	7021	7021	NUM
fsr-3246	14	20	.	.	PUNCT
fsr-3246	15	1	e	e	X
fsr-3246	15	2	-	-	NOUN
fsr-3246	15	3	mail	mail	NOUN
fsr-3246	15	4	address	address	NOUN
fsr-3246	15	5	:	:	PUNCT
fsr-3246	15	6	haterry@ualr.edu	haterry@ualr.edu	X
fsr-3246	15	7	(	(	PUNCT
fsr-3246	15	8	a.	a.	NOUN
fsr-3246	15	9	terry	terry	PROPN
fsr-3246	15	10	)	)	PUNCT
fsr-3246	15	11	financial	financial	ADJ
fsr-3246	15	12	services	service	NOUN
fsr-3246	15	13	review	review	VERB
fsr-3246	15	14	24	24	NUM
fsr-3246	15	15	(	(	PUNCT
fsr-3246	15	16	2015	2015	NUM
fsr-3246	15	17	)	)	PUNCT
fsr-3246	15	18	411–428	411–428	NUM
fsr-3246	15	19	1057	1057	NUM
fsr-3246	15	20	-	-	SYM
fsr-3246	15	21	0810/15/$	0810/15/$	NUM
fsr-3246	15	22	–	–	PUNCT
fsr-3246	15	23	see	see	VERB
fsr-3246	15	24	front	front	ADJ
fsr-3246	15	25	matter	matter	NOUN
fsr-3246	15	26	©	©	PROPN
fsr-3246	15	27	2015	2015	NUM
fsr-3246	15	28	academy	academy	NOUN
fsr-3246	15	29	of	of	ADP
fsr-3246	15	30	financial	financial	ADJ
fsr-3246	15	31	services	service	NOUN
fsr-3246	15	32	.	.	PUNCT
fsr-3246	16	1	all	all	DET
fsr-3246	16	2	rights	right	NOUN
fsr-3246	16	3	reserved	reserve	VERB
fsr-3246	16	4	.	.	PUNCT
fsr-3246	17	1	examine	examine	VERB
fsr-3246	17	2	investment	investment	NOUN
fsr-3246	17	3	alternatives	alternative	NOUN
fsr-3246	17	4	that	that	PRON
fsr-3246	17	5	include	include	VERB
fsr-3246	17	6	the	the	DET
fsr-3246	17	7	options	option	NOUN
fsr-3246	17	8	imbedded	imbed	VERB
fsr-3246	17	9	in	in	ADP
fsr-3246	17	10	eias	eia	NOUN
fsr-3246	17	11	.	.	PUNCT
fsr-3246	18	1	third	third	ADJ
fsr-3246	18	2	,	,	PUNCT
fsr-3246	18	3	unlike	unlike	ADP
fsr-3246	18	4	prior	prior	ADJ
fsr-3246	18	5	research	research	NOUN
fsr-3246	18	6	,	,	PUNCT
fsr-3246	18	7	we	we	PRON
fsr-3246	18	8	allow	allow	VERB
fsr-3246	18	9	cap	cap	NOUN
fsr-3246	18	10	rates	rate	NOUN
fsr-3246	18	11	to	to	PART
fsr-3246	18	12	vary	vary	VERB
fsr-3246	18	13	with	with	ADP
fsr-3246	18	14	interest	interest	NOUN
fsr-3246	18	15	rates	rate	NOUN
fsr-3246	18	16	.	.	PUNCT
fsr-3246	19	1	we	we	PRON
fsr-3246	19	2	find	find	VERB
fsr-3246	19	3	that	that	SCONJ
fsr-3246	19	4	for	for	ADP
fsr-3246	19	5	long	long	ADJ
fsr-3246	19	6	time	time	NOUN
fsr-3246	19	7	horizons	horizon	NOUN
fsr-3246	19	8	alternative	alternative	ADJ
fsr-3246	19	9	strategies	strategy	NOUN
fsr-3246	19	10	dominate	dominate	VERB
fsr-3246	19	11	eias	eia	NOUN
fsr-3246	19	12	as	as	ADP
fsr-3246	19	13	an	an	DET
fsr-3246	19	14	investment	investment	NOUN
fsr-3246	19	15	vehicle	vehicle	NOUN
fsr-3246	19	16	.	.	PUNCT
fsr-3246	20	1	the	the	DET
fsr-3246	20	2	article	article	NOUN
fsr-3246	20	3	is	be	AUX
fsr-3246	20	4	organized	organize	VERB
fsr-3246	20	5	as	as	SCONJ
fsr-3246	20	6	follows	follow	VERB
fsr-3246	20	7	:	:	PUNCT
fsr-3246	20	8	section	section	NOUN
fsr-3246	20	9	2	2	NUM
fsr-3246	20	10	discusses	discuss	VERB
fsr-3246	20	11	eias	eia	NOUN
fsr-3246	20	12	,	,	PUNCT
fsr-3246	20	13	their	their	PRON
fsr-3246	20	14	features	feature	NOUN
fsr-3246	20	15	,	,	PUNCT
fsr-3246	20	16	and	and	CCONJ
fsr-3246	20	17	the	the	DET
fsr-3246	20	18	underlying	underlie	VERB
fsr-3246	20	19	economics	economic	NOUN
fsr-3246	20	20	from	from	ADP
fsr-3246	20	21	the	the	DET
fsr-3246	20	22	issuing	issue	VERB
fsr-3246	20	23	insurance	insurance	NOUN
fsr-3246	20	24	company	company	NOUN
fsr-3246	20	25	perspective	perspective	NOUN
fsr-3246	20	26	.	.	PUNCT
fsr-3246	21	1	section	section	NOUN
fsr-3246	21	2	3	3	NUM
fsr-3246	21	3	presents	present	VERB
fsr-3246	21	4	a	a	DET
fsr-3246	21	5	summary	summary	NOUN
fsr-3246	21	6	literature	literature	NOUN
fsr-3246	21	7	review	review	PROPN
fsr-3246	21	8	.	.	PUNCT
fsr-3246	22	1	section	section	NOUN
fsr-3246	22	2	4	4	NUM
fsr-3246	22	3	expands	expand	VERB
fsr-3246	22	4	the	the	DET
fsr-3246	22	5	work	work	NOUN
fsr-3246	22	6	of	of	ADP
fsr-3246	22	7	reichenstein	reichenstein	NOUN
fsr-3246	22	8	(	(	PUNCT
fsr-3246	22	9	2009	2009	NUM
fsr-3246	22	10	,	,	PUNCT
fsr-3246	22	11	2011	2011	NUM
fsr-3246	22	12	)	)	PUNCT
fsr-3246	22	13	,	,	PUNCT
fsr-3246	22	14	whereas	whereas	SCONJ
fsr-3246	22	15	section	section	NOUN
fsr-3246	22	16	5	5	NUM
fsr-3246	22	17	furthers	further	VERB
fsr-3246	22	18	prior	prior	ADJ
fsr-3246	22	19	research	research	NOUN
fsr-3246	22	20	by	by	ADP
fsr-3246	22	21	examining	examine	VERB
fsr-3246	22	22	investment	investment	NOUN
fsr-3246	22	23	alternatives	alternative	NOUN
fsr-3246	22	24	with	with	ADP
fsr-3246	22	25	options	option	NOUN
fsr-3246	22	26	.	.	PUNCT
fsr-3246	23	1	section	section	NOUN
fsr-3246	23	2	6	6	NUM
fsr-3246	23	3	concludes	conclude	VERB
fsr-3246	23	4	the	the	DET
fsr-3246	23	5	article	article	NOUN
fsr-3246	23	6	.	.	PUNCT
fsr-3246	24	1	2	2	X
fsr-3246	24	2	.	.	X
fsr-3246	24	3	eia	eia	PROPN
fsr-3246	24	4	’s	’s	PART
fsr-3246	24	5	background	background	NOUN
fsr-3246	24	6	,	,	PUNCT
fsr-3246	24	7	contract	contract	NOUN
fsr-3246	24	8	features	feature	NOUN
fsr-3246	24	9	,	,	PUNCT
fsr-3246	24	10	and	and	CCONJ
fsr-3246	24	11	economics	economic	NOUN
fsr-3246	24	12	within	within	ADP
fsr-3246	24	13	the	the	DET
fsr-3246	24	14	insurance	insurance	NOUN
fsr-3246	24	15	industry	industry	NOUN
fsr-3246	24	16	deferred	defer	VERB
fsr-3246	24	17	annuities	annuity	NOUN
fsr-3246	24	18	are	be	AUX
fsr-3246	24	19	typically	typically	ADV
fsr-3246	24	20	classified	classify	VERB
fsr-3246	24	21	as	as	ADP
fsr-3246	24	22	fixed	fix	VERB
fsr-3246	24	23	or	or	CCONJ
fsr-3246	24	24	variable	variable	NOUN
fsr-3246	24	25	.	.	PUNCT
fsr-3246	25	1	variable	variable	ADJ
fsr-3246	25	2	annuities	annuity	NOUN
fsr-3246	25	3	have	have	VERB
fsr-3246	25	4	investment	investment	NOUN
fsr-3246	25	5	returns	return	NOUN
fsr-3246	25	6	that	that	PRON
fsr-3246	25	7	vary	vary	VERB
fsr-3246	25	8	depending	depend	VERB
fsr-3246	25	9	on	on	ADP
fsr-3246	25	10	the	the	DET
fsr-3246	25	11	performance	performance	NOUN
fsr-3246	25	12	of	of	ADP
fsr-3246	25	13	the	the	DET
fsr-3246	25	14	underlying	underlie	VERB
fsr-3246	25	15	subaccount	subaccount	NOUN
fsr-3246	25	16	investments	investment	NOUN
fsr-3246	25	17	.	.	PUNCT
fsr-3246	26	1	the	the	DET
fsr-3246	26	2	choices	choice	NOUN
fsr-3246	26	3	of	of	ADP
fsr-3246	26	4	subaccounts	subaccount	NOUN
fsr-3246	26	5	are	be	AUX
fsr-3246	26	6	very	very	ADV
fsr-3246	26	7	similar	similar	ADJ
fsr-3246	26	8	to	to	ADP
fsr-3246	26	9	the	the	DET
fsr-3246	26	10	choices	choice	NOUN
fsr-3246	26	11	available	available	ADJ
fsr-3246	26	12	for	for	ADP
fsr-3246	26	13	mutual	mutual	ADJ
fsr-3246	26	14	funds	fund	NOUN
fsr-3246	26	15	.	.	PUNCT
fsr-3246	27	1	variable	variable	ADJ
fsr-3246	27	2	annuities	annuity	NOUN
fsr-3246	27	3	also	also	ADV
fsr-3246	27	4	contain	contain	VERB
fsr-3246	27	5	a	a	DET
fsr-3246	27	6	“	"	PUNCT
fsr-3246	27	7	death	death	NOUN
fsr-3246	27	8	benefit	benefit	NOUN
fsr-3246	27	9	”	"	PUNCT
fsr-3246	27	10	where	where	SCONJ
fsr-3246	27	11	the	the	DET
fsr-3246	27	12	beneficiary	beneficiary	NOUN
fsr-3246	27	13	is	be	AUX
fsr-3246	27	14	guaranteed	guarantee	VERB
fsr-3246	27	15	to	to	PART
fsr-3246	27	16	receive	receive	VERB
fsr-3246	27	17	at	at	ADP
fsr-3246	27	18	least	least	ADJ
fsr-3246	27	19	the	the	DET
fsr-3246	27	20	initial	initial	ADJ
fsr-3246	27	21	investment	investment	NOUN
fsr-3246	27	22	less	less	ADJ
fsr-3246	27	23	any	any	DET
fsr-3246	27	24	withdrawals	withdrawal	NOUN
fsr-3246	27	25	.	.	PUNCT
fsr-3246	28	1	variable	variable	ADJ
fsr-3246	28	2	annuities	annuity	NOUN
fsr-3246	28	3	are	be	AUX
fsr-3246	28	4	treated	treat	VERB
fsr-3246	28	5	as	as	ADP
fsr-3246	28	6	securities	security	NOUN
fsr-3246	28	7	and	and	CCONJ
fsr-3246	28	8	are	be	AUX
fsr-3246	28	9	regulated	regulate	VERB
fsr-3246	28	10	by	by	ADP
fsr-3246	28	11	the	the	DET
fsr-3246	28	12	sec	sec	PROPN
fsr-3246	28	13	.	.	PUNCT
fsr-3246	29	1	fixed	fix	VERB
fsr-3246	29	2	annuities	annuity	NOUN
fsr-3246	29	3	are	be	AUX
fsr-3246	29	4	contracts	contract	NOUN
fsr-3246	29	5	wherein	wherein	SCONJ
fsr-3246	29	6	the	the	DET
fsr-3246	29	7	insurance	insurance	NOUN
fsr-3246	29	8	company	company	NOUN
fsr-3246	29	9	guarantees	guarantee	VERB
fsr-3246	29	10	fixed	fix	VERB
fsr-3246	29	11	returns	return	NOUN
fsr-3246	29	12	and	and	CCONJ
fsr-3246	29	13	payouts	payout	NOUN
fsr-3246	29	14	.	.	PUNCT
fsr-3246	30	1	during	during	ADP
fsr-3246	30	2	the	the	DET
fsr-3246	30	3	accumulation	accumulation	NOUN
fsr-3246	30	4	period	period	NOUN
fsr-3246	30	5	the	the	DET
fsr-3246	30	6	contract	contract	NOUN
fsr-3246	30	7	earns	earn	VERB
fsr-3246	30	8	interest	interest	NOUN
fsr-3246	30	9	at	at	ADP
fsr-3246	30	10	rates	rate	NOUN
fsr-3246	30	11	pre	pre	VERB
fsr-3246	30	12	-	-	VERB
fsr-3246	30	13	specified	specify	VERB
fsr-3246	30	14	by	by	ADP
fsr-3246	30	15	the	the	DET
fsr-3246	30	16	insurance	insurance	NOUN
fsr-3246	30	17	company	company	NOUN
fsr-3246	30	18	or	or	CCONJ
fsr-3246	30	19	spelled	spell	VERB
fsr-3246	30	20	out	out	ADP
fsr-3246	30	21	in	in	ADP
fsr-3246	30	22	the	the	DET
fsr-3246	30	23	contract	contract	NOUN
fsr-3246	30	24	formula	formula	NOUN
fsr-3246	30	25	.	.	PUNCT
fsr-3246	31	1	they	they	PRON
fsr-3246	31	2	are	be	AUX
fsr-3246	31	3	very	very	ADV
fsr-3246	31	4	similar	similar	ADJ
fsr-3246	31	5	to	to	ADP
fsr-3246	31	6	guaranteed	guarantee	VERB
fsr-3246	31	7	investment	investment	NOUN
fsr-3246	31	8	contracts	contract	NOUN
fsr-3246	31	9	(	(	PUNCT
fsr-3246	31	10	gics	gic	NOUN
fsr-3246	31	11	)	)	PUNCT
fsr-3246	31	12	.	.	PUNCT
fsr-3246	32	1	unlike	unlike	ADP
fsr-3246	32	2	variable	variable	ADJ
fsr-3246	32	3	annuities	annuity	NOUN
fsr-3246	32	4	,	,	PUNCT
fsr-3246	32	5	fixed	fix	VERB
fsr-3246	32	6	annuities	annuity	NOUN
fsr-3246	32	7	do	do	AUX
fsr-3246	32	8	not	not	PART
fsr-3246	32	9	have	have	VERB
fsr-3246	32	10	subaccounts	subaccount	NOUN
fsr-3246	32	11	with	with	ADP
fsr-3246	32	12	underlying	underlie	VERB
fsr-3246	32	13	investments	investment	NOUN
fsr-3246	32	14	.	.	PUNCT
fsr-3246	33	1	fixed	fix	VERB
fsr-3246	33	2	annuities	annuity	NOUN
fsr-3246	33	3	have	have	AUX
fsr-3246	33	4	been	be	AUX
fsr-3246	33	5	around	around	ADV
fsr-3246	33	6	for	for	ADP
fsr-3246	33	7	quite	quite	DET
fsr-3246	33	8	some	some	DET
fsr-3246	33	9	time	time	NOUN
fsr-3246	33	10	,	,	PUNCT
fsr-3246	33	11	and	and	CCONJ
fsr-3246	33	12	most	most	ADJ
fsr-3246	33	13	fixed	fix	VERB
fsr-3246	33	14	annuities	annuity	NOUN
fsr-3246	33	15	are	be	AUX
fsr-3246	33	16	not	not	PART
fsr-3246	33	17	considered	consider	VERB
fsr-3246	33	18	securities	security	NOUN
fsr-3246	33	19	and	and	CCONJ
fsr-3246	33	20	are	be	AUX
fsr-3246	33	21	not	not	PART
fsr-3246	33	22	regulated	regulate	VERB
fsr-3246	33	23	by	by	ADP
fsr-3246	33	24	the	the	DET
fsr-3246	33	25	sec	sec	PROPN
fsr-3246	33	26	.	.	PROPN
fsr-3246	34	1	within	within	ADP
fsr-3246	34	2	the	the	DET
fsr-3246	34	3	fixed	fix	VERB
fsr-3246	34	4	annuity	annuity	NOUN
fsr-3246	34	5	classification	classification	NOUN
fsr-3246	34	6	are	be	AUX
fsr-3246	34	7	traditional	traditional	ADJ
fsr-3246	34	8	fixed	fix	VERB
fsr-3246	34	9	rate	rate	NOUN
fsr-3246	34	10	annuities	annuity	NOUN
fsr-3246	34	11	and	and	CCONJ
fsr-3246	34	12	equityindexed	equityindexe	VERB
fsr-3246	34	13	annuities	annuity	NOUN
fsr-3246	34	14	(	(	PUNCT
fsr-3246	34	15	eias).1	eias).1	PROPN
fsr-3246	34	16	fixed	fix	VERB
fsr-3246	34	17	rate	rate	NOUN
fsr-3246	34	18	annuities	annuity	NOUN
fsr-3246	34	19	have	have	VERB
fsr-3246	34	20	a	a	DET
fsr-3246	34	21	guaranteed	guarantee	VERB
fsr-3246	34	22	minimum	minimum	ADJ
fsr-3246	34	23	interest	interest	NOUN
fsr-3246	34	24	rate	rate	NOUN
fsr-3246	34	25	and	and	CCONJ
fsr-3246	34	26	a	a	DET
fsr-3246	34	27	current	current	ADJ
fsr-3246	34	28	rate	rate	NOUN
fsr-3246	34	29	.	.	PUNCT
fsr-3246	35	1	as	as	SCONJ
fsr-3246	35	2	the	the	DET
fsr-3246	35	3	names	name	NOUN
fsr-3246	35	4	imply	imply	VERB
fsr-3246	35	5	,	,	PUNCT
fsr-3246	35	6	the	the	DET
fsr-3246	35	7	guaranteed	guarantee	VERB
fsr-3246	35	8	minimum	minimum	NOUN
fsr-3246	35	9	is	be	AUX
fsr-3246	35	10	the	the	DET
fsr-3246	35	11	lowest	low	ADJ
fsr-3246	35	12	rate	rate	NOUN
fsr-3246	35	13	that	that	PRON
fsr-3246	35	14	will	will	AUX
fsr-3246	35	15	be	be	AUX
fsr-3246	35	16	credited	credit	VERB
fsr-3246	35	17	to	to	ADP
fsr-3246	35	18	the	the	DET
fsr-3246	35	19	contract	contract	NOUN
fsr-3246	35	20	value	value	NOUN
fsr-3246	35	21	,	,	PUNCT
fsr-3246	35	22	whereas	whereas	SCONJ
fsr-3246	35	23	the	the	DET
fsr-3246	35	24	current	current	ADJ
fsr-3246	35	25	rate	rate	NOUN
fsr-3246	35	26	is	be	AUX
fsr-3246	35	27	usually	usually	ADV
fsr-3246	35	28	adjusted	adjust	VERB
fsr-3246	35	29	annually	annually	ADV
fsr-3246	35	30	based	base	VERB
fsr-3246	35	31	on	on	ADP
fsr-3246	35	32	market	market	NOUN
fsr-3246	35	33	conditions	condition	NOUN
fsr-3246	35	34	and	and	CCONJ
fsr-3246	35	35	can	can	AUX
fsr-3246	35	36	not	not	PART
fsr-3246	35	37	be	be	AUX
fsr-3246	35	38	less	less	ADJ
fsr-3246	35	39	than	than	ADP
fsr-3246	35	40	the	the	DET
fsr-3246	35	41	guaranteed	guarantee	VERB
fsr-3246	35	42	minimum	minimum	NOUN
fsr-3246	35	43	.	.	PUNCT
fsr-3246	36	1	eias	eia	NOUN
fsr-3246	36	2	were	be	AUX
fsr-3246	36	3	originally	originally	ADV
fsr-3246	36	4	introduced	introduce	VERB
fsr-3246	36	5	in	in	ADP
fsr-3246	36	6	1995	1995	NUM
fsr-3246	36	7	.	.	PUNCT
fsr-3246	37	1	eias	eias	PROPN
fsr-3246	37	2	differ	differ	VERB
fsr-3246	37	3	from	from	ADP
fsr-3246	37	4	traditional	traditional	ADJ
fsr-3246	37	5	fixed	fix	VERB
fsr-3246	37	6	annuities	annuity	NOUN
fsr-3246	37	7	in	in	ADP
fsr-3246	37	8	how	how	SCONJ
fsr-3246	37	9	interest	interest	NOUN
fsr-3246	37	10	is	be	AUX
fsr-3246	37	11	credited	credit	VERB
fsr-3246	37	12	.	.	PUNCT
fsr-3246	38	1	for	for	ADP
fsr-3246	38	2	eias	eia	NOUN
fsr-3246	38	3	,	,	PUNCT
fsr-3246	38	4	the	the	DET
fsr-3246	38	5	interest	interest	NOUN
fsr-3246	38	6	credited	credit	VERB
fsr-3246	38	7	usually	usually	ADV
fsr-3246	38	8	varies	vary	VERB
fsr-3246	38	9	between	between	ADP
fsr-3246	38	10	zero	zero	NUM
fsr-3246	38	11	and	and	CCONJ
fsr-3246	38	12	an	an	DET
fsr-3246	38	13	upside	upside	ADJ
fsr-3246	38	14	amount	amount	NOUN
fsr-3246	38	15	that	that	PRON
fsr-3246	38	16	is	be	AUX
fsr-3246	38	17	determined	determine	VERB
fsr-3246	38	18	by	by	ADP
fsr-3246	38	19	the	the	DET
fsr-3246	38	20	contract	contract	NOUN
fsr-3246	38	21	formula	formula	NOUN
fsr-3246	38	22	,	,	PUNCT
fsr-3246	38	23	but	but	CCONJ
fsr-3246	38	24	that	that	PRON
fsr-3246	38	25	is	be	AUX
fsr-3246	38	26	linked	link	VERB
fsr-3246	38	27	to	to	ADP
fsr-3246	38	28	the	the	DET
fsr-3246	38	29	performance	performance	NOUN
fsr-3246	38	30	,	,	PUNCT
fsr-3246	38	31	variously	variously	ADV
fsr-3246	38	32	measured	measure	VERB
fsr-3246	38	33	,	,	PUNCT
fsr-3246	38	34	of	of	ADP
fsr-3246	38	35	an	an	DET
fsr-3246	38	36	underlying	underlie	VERB
fsr-3246	38	37	equity	equity	NOUN
fsr-3246	38	38	index	index	NOUN
fsr-3246	38	39	,	,	PUNCT
fsr-3246	38	40	for	for	ADP
fsr-3246	38	41	example	example	NOUN
fsr-3246	38	42	,	,	PUNCT
fsr-3246	38	43	s&p	s&p	PROPN
fsr-3246	38	44	500	500	NUM
fsr-3246	38	45	.	.	PUNCT
fsr-3246	39	1	eias	eias	PROPN
fsr-3246	39	2	are	be	AUX
fsr-3246	39	3	marketed	market	VERB
fsr-3246	39	4	as	as	ADP
fsr-3246	39	5	a	a	DET
fsr-3246	39	6	way	way	NOUN
fsr-3246	39	7	to	to	PART
fsr-3246	39	8	participate	participate	VERB
fsr-3246	39	9	in	in	ADP
fsr-3246	39	10	the	the	DET
fsr-3246	39	11	market	market	NOUN
fsr-3246	39	12	upside	upside	ADV
fsr-3246	39	13	while	while	SCONJ
fsr-3246	39	14	being	be	AUX
fsr-3246	39	15	protected	protect	VERB
fsr-3246	39	16	against	against	ADP
fsr-3246	39	17	the	the	DET
fsr-3246	39	18	downside	downside	NOUN
fsr-3246	39	19	and	and	CCONJ
fsr-3246	39	20	while	while	SCONJ
fsr-3246	39	21	receiving	receive	VERB
fsr-3246	39	22	a	a	DET
fsr-3246	39	23	guaranteed	guarantee	VERB
fsr-3246	39	24	minimum	minimum	NOUN
fsr-3246	39	25	return.2	return.2	PROPN
fsr-3246	39	26	eias	eia	NOUN
fsr-3246	39	27	are	be	AUX
fsr-3246	39	28	complex	complex	ADJ
fsr-3246	39	29	financial	financial	ADJ
fsr-3246	39	30	products	product	NOUN
fsr-3246	39	31	that	that	PRON
fsr-3246	39	32	typically	typically	ADV
fsr-3246	39	33	bundle	bundle	VERB
fsr-3246	39	34	a	a	DET
fsr-3246	39	35	deferred	deferred	ADJ
fsr-3246	39	36	annuity	annuity	NOUN
fsr-3246	39	37	with	with	ADP
fsr-3246	39	38	death	death	NOUN
fsr-3246	39	39	benefits	benefit	NOUN
fsr-3246	39	40	and	and	CCONJ
fsr-3246	39	41	annuity	annuity	NOUN
fsr-3246	39	42	payout	payout	NOUN
fsr-3246	39	43	options	option	NOUN
fsr-3246	39	44	.	.	PUNCT
fsr-3246	40	1	the	the	DET
fsr-3246	40	2	number	number	NOUN
fsr-3246	40	3	and	and	CCONJ
fsr-3246	40	4	variability	variability	NOUN
fsr-3246	40	5	of	of	ADP
fsr-3246	40	6	the	the	DET
fsr-3246	40	7	features	feature	NOUN
fsr-3246	40	8	within	within	ADP
fsr-3246	40	9	a	a	DET
fsr-3246	40	10	contract	contract	NOUN
fsr-3246	40	11	make	make	VERB
fsr-3246	40	12	them	they	PRON
fsr-3246	40	13	exceedingly	exceedingly	ADV
fsr-3246	40	14	complex	complex	ADJ
fsr-3246	40	15	.	.	PUNCT
fsr-3246	41	1	these	these	DET
fsr-3246	41	2	features	feature	NOUN
fsr-3246	41	3	,	,	PUNCT
fsr-3246	41	4	including	include	VERB
fsr-3246	41	5	investment	investment	NOUN
fsr-3246	41	6	,	,	PUNCT
fsr-3246	41	7	regulatory	regulatory	ADJ
fsr-3246	41	8	,	,	PUNCT
fsr-3246	41	9	insurance	insurance	NOUN
fsr-3246	41	10	,	,	PUNCT
fsr-3246	41	11	and	and	CCONJ
fsr-3246	41	12	tax	tax	NOUN
fsr-3246	41	13	attributes	attribute	NOUN
fsr-3246	41	14	,	,	PUNCT
fsr-3246	41	15	have	have	AUX
fsr-3246	41	16	already	already	ADV
fsr-3246	41	17	been	be	AUX
fsr-3246	41	18	discussed	discuss	VERB
fsr-3246	41	19	at	at	ADP
fsr-3246	41	20	length	length	NOUN
fsr-3246	41	21	in	in	ADP
fsr-3246	41	22	mccann	mccann	PROPN
fsr-3246	41	23	(	(	PUNCT
fsr-3246	41	24	2008	2008	NUM
fsr-3246	41	25	)	)	PUNCT
fsr-3246	41	26	and	and	CCONJ
fsr-3246	41	27	reichenstein	reichenstein	NOUN
fsr-3246	41	28	(	(	PUNCT
fsr-3246	41	29	2009	2009	NUM
fsr-3246	41	30	)	)	PUNCT
fsr-3246	41	31	.	.	PUNCT
fsr-3246	42	1	consequently	consequently	ADV
fsr-3246	42	2	,	,	PUNCT
fsr-3246	42	3	only	only	ADV
fsr-3246	42	4	those	those	DET
fsr-3246	42	5	aspects	aspect	NOUN
fsr-3246	42	6	most	most	ADV
fsr-3246	42	7	pertinent	pertinent	ADJ
fsr-3246	42	8	to	to	ADP
fsr-3246	42	9	this	this	DET
fsr-3246	42	10	research	research	NOUN
fsr-3246	42	11	are	be	AUX
fsr-3246	42	12	repeated	repeat	VERB
fsr-3246	42	13	below.3	below.3	ADP
fsr-3246	42	14	412	412	NUM
fsr-3246	42	15	a.	a.	NOUN
fsr-3246	42	16	terry	terry	PROPN
fsr-3246	42	17	,	,	PUNCT
fsr-3246	42	18	e.	e.	PROPN
fsr-3246	42	19	elder	elder	PROPN
fsr-3246	42	20	/	/	SYM
fsr-3246	42	21	financial	financial	ADJ
fsr-3246	42	22	services	service	NOUN
fsr-3246	42	23	review	review	VERB
fsr-3246	42	24	24	24	NUM
fsr-3246	42	25	(	(	PUNCT
fsr-3246	42	26	2015	2015	NUM
fsr-3246	42	27	)	)	PUNCT
fsr-3246	42	28	411–428	411–428	NUM
fsr-3246	42	29	2.1	2.1	NUM
fsr-3246	42	30	.	.	PUNCT
fsr-3246	43	1	interest	interest	NOUN
fsr-3246	43	2	crediting	credit	VERB
fsr-3246	43	3	formulas	formula	NOUN
fsr-3246	43	4	and	and	CCONJ
fsr-3246	43	5	limits	limit	NOUN
fsr-3246	43	6	in	in	ADP
fsr-3246	43	7	general	general	ADJ
fsr-3246	43	8	interest	interest	NOUN
fsr-3246	43	9	is	be	AUX
fsr-3246	43	10	credited	credit	VERB
fsr-3246	43	11	based	base	VERB
fsr-3246	43	12	on	on	ADP
fsr-3246	43	13	the	the	DET
fsr-3246	43	14	percentage	percentage	NOUN
fsr-3246	43	15	change	change	NOUN
fsr-3246	43	16	in	in	ADP
fsr-3246	43	17	an	an	DET
fsr-3246	43	18	underlying	underlie	VERB
fsr-3246	43	19	equity	equity	NOUN
fsr-3246	43	20	index	index	NOUN
fsr-3246	43	21	.	.	PUNCT
fsr-3246	44	1	the	the	DET
fsr-3246	44	2	percentage	percentage	NOUN
fsr-3246	44	3	change	change	NOUN
fsr-3246	44	4	reflects	reflect	VERB
fsr-3246	44	5	price	price	NOUN
fsr-3246	44	6	appreciation	appreciation	NOUN
fsr-3246	44	7	only	only	ADV
fsr-3246	44	8	and	and	CCONJ
fsr-3246	44	9	does	do	AUX
fsr-3246	44	10	not	not	PART
fsr-3246	44	11	include	include	VERB
fsr-3246	44	12	dividends	dividend	NOUN
fsr-3246	44	13	.	.	PUNCT
fsr-3246	45	1	the	the	DET
fsr-3246	45	2	two	two	NUM
fsr-3246	45	3	most	most	ADV
fsr-3246	45	4	common	common	ADJ
fsr-3246	45	5	methods	method	NOUN
fsr-3246	45	6	are	be	AUX
fsr-3246	45	7	point	point	NOUN
fsr-3246	45	8	-	-	PUNCT
fsr-3246	45	9	to	to	ADP
fsr-3246	45	10	-	-	PUNCT
fsr-3246	45	11	point	point	NOUN
fsr-3246	45	12	and	and	CCONJ
fsr-3246	45	13	monthly	monthly	ADJ
fsr-3246	45	14	averaging	averaging	NOUN
fsr-3246	45	15	.	.	PUNCT
fsr-3246	46	1	in	in	ADP
fsr-3246	46	2	the	the	DET
fsr-3246	46	3	former	former	ADJ
fsr-3246	46	4	,	,	PUNCT
fsr-3246	46	5	the	the	DET
fsr-3246	46	6	percentage	percentage	NOUN
fsr-3246	46	7	change	change	NOUN
fsr-3246	46	8	between	between	ADP
fsr-3246	46	9	two	two	NUM
fsr-3246	46	10	points	point	NOUN
fsr-3246	46	11	is	be	AUX
fsr-3246	46	12	calculated	calculate	VERB
fsr-3246	46	13	,	,	PUNCT
fsr-3246	46	14	typically	typically	ADV
fsr-3246	46	15	on	on	ADP
fsr-3246	46	16	an	an	DET
fsr-3246	46	17	annual	annual	ADJ
fsr-3246	46	18	basis	basis	NOUN
fsr-3246	46	19	,	,	PUNCT
fsr-3246	46	20	and	and	CCONJ
fsr-3246	46	21	the	the	DET
fsr-3246	46	22	ending	end	VERB
fsr-3246	46	23	index	index	NOUN
fsr-3246	46	24	value	value	NOUN
fsr-3246	46	25	one	one	NUM
fsr-3246	46	26	period	period	NOUN
fsr-3246	46	27	becomes	become	VERB
fsr-3246	46	28	the	the	DET
fsr-3246	46	29	beginning	begin	VERB
fsr-3246	46	30	index	index	NOUN
fsr-3246	46	31	value	value	NOUN
fsr-3246	46	32	for	for	ADP
fsr-3246	46	33	the	the	DET
fsr-3246	46	34	next	next	ADJ
fsr-3246	46	35	.	.	PUNCT
fsr-3246	47	1	the	the	DET
fsr-3246	47	2	latter	latter	ADJ
fsr-3246	47	3	measures	measure	VERB
fsr-3246	47	4	the	the	DET
fsr-3246	47	5	percentage	percentage	NOUN
fsr-3246	47	6	change	change	NOUN
fsr-3246	47	7	in	in	ADP
fsr-3246	47	8	the	the	DET
fsr-3246	47	9	index	index	NOUN
fsr-3246	47	10	level	level	NOUN
fsr-3246	47	11	from	from	ADP
fsr-3246	47	12	a	a	DET
fsr-3246	47	13	starting	starting	NOUN
fsr-3246	47	14	date	date	NOUN
fsr-3246	47	15	,	,	PUNCT
fsr-3246	47	16	usually	usually	ADV
fsr-3246	47	17	the	the	DET
fsr-3246	47	18	contract	contract	NOUN
fsr-3246	47	19	purchase	purchase	NOUN
fsr-3246	47	20	date	date	NOUN
fsr-3246	47	21	or	or	CCONJ
fsr-3246	47	22	anniversary	anniversary	NOUN
fsr-3246	47	23	date	date	NOUN
fsr-3246	47	24	,	,	PUNCT
fsr-3246	47	25	to	to	ADP
fsr-3246	47	26	an	an	DET
fsr-3246	47	27	average	average	ADJ
fsr-3246	47	28	value	value	NOUN
fsr-3246	47	29	over	over	ADP
fsr-3246	47	30	the	the	DET
fsr-3246	47	31	subsequent	subsequent	ADJ
fsr-3246	47	32	period	period	NOUN
fsr-3246	47	33	.	.	PUNCT
fsr-3246	48	1	typically	typically	ADV
fsr-3246	48	2	the	the	DET
fsr-3246	48	3	average	average	NOUN
fsr-3246	48	4	is	be	AUX
fsr-3246	48	5	calculated	calculate	VERB
fsr-3246	48	6	on	on	ADP
fsr-3246	48	7	a	a	DET
fsr-3246	48	8	monthly	monthly	ADJ
fsr-3246	48	9	basis.4	basis.4	PROPN
fsr-3246	48	10	this	this	PRON
fsr-3246	48	11	,	,	PUNCT
fsr-3246	48	12	and	and	CCONJ
fsr-3246	48	13	most	most	ADJ
fsr-3246	48	14	of	of	ADP
fsr-3246	48	15	the	the	DET
fsr-3246	48	16	prior	prior	ADJ
fsr-3246	48	17	research	research	NOUN
fsr-3246	48	18	,	,	PUNCT
fsr-3246	48	19	examines	examine	VERB
fsr-3246	48	20	annual	annual	ADJ
fsr-3246	48	21	reset	reset	NOUN
fsr-3246	48	22	,	,	PUNCT
fsr-3246	48	23	point	point	NOUN
fsr-3246	48	24	-	-	PUNCT
fsr-3246	48	25	to	to	ADP
fsr-3246	48	26	-	-	PUNCT
fsr-3246	48	27	point	point	NOUN
fsr-3246	48	28	interest	interest	NOUN
fsr-3246	48	29	calculations	calculation	NOUN
fsr-3246	48	30	.	.	PUNCT
fsr-3246	49	1	contract	contract	NOUN
fsr-3246	49	2	owners	owner	NOUN
fsr-3246	49	3	generally	generally	ADV
fsr-3246	49	4	do	do	AUX
fsr-3246	49	5	not	not	PART
fsr-3246	49	6	receive	receive	VERB
fsr-3246	49	7	an	an	DET
fsr-3246	49	8	interest	interest	NOUN
fsr-3246	49	9	rate	rate	NOUN
fsr-3246	49	10	equal	equal	ADJ
fsr-3246	49	11	to	to	ADP
fsr-3246	49	12	the	the	DET
fsr-3246	49	13	total	total	ADJ
fsr-3246	49	14	percentage	percentage	NOUN
fsr-3246	49	15	change	change	NOUN
fsr-3246	49	16	in	in	ADP
fsr-3246	49	17	the	the	DET
fsr-3246	49	18	index	index	NOUN
fsr-3246	49	19	value	value	NOUN
fsr-3246	49	20	,	,	PUNCT
fsr-3246	49	21	rather	rather	ADV
fsr-3246	49	22	the	the	DET
fsr-3246	49	23	rate	rate	NOUN
fsr-3246	49	24	credited	credit	VERB
fsr-3246	49	25	is	be	AUX
fsr-3246	49	26	usually	usually	ADV
fsr-3246	49	27	limited	limit	VERB
fsr-3246	49	28	in	in	ADP
fsr-3246	49	29	one	one	NUM
fsr-3246	49	30	or	or	CCONJ
fsr-3246	49	31	more	more	ADJ
fsr-3246	49	32	of	of	ADP
fsr-3246	49	33	several	several	ADJ
fsr-3246	49	34	ways:5	ways:5	NUM
fsr-3246	49	35	most	most	ADJ
fsr-3246	49	36	eias	eia	NOUN
fsr-3246	49	37	have	have	VERB
fsr-3246	49	38	a	a	DET
fsr-3246	49	39	cap	cap	NOUN
fsr-3246	49	40	rate	rate	NOUN
fsr-3246	49	41	that	that	PRON
fsr-3246	49	42	limits	limit	VERB
fsr-3246	49	43	the	the	DET
fsr-3246	49	44	percentage	percentage	NOUN
fsr-3246	49	45	change	change	NOUN
fsr-3246	49	46	to	to	PART
fsr-3246	49	47	be	be	AUX
fsr-3246	49	48	applied	apply	VERB
fsr-3246	49	49	to	to	ADP
fsr-3246	49	50	the	the	DET
fsr-3246	49	51	eia	eia	PROPN
fsr-3246	49	52	.	.	PUNCT
fsr-3246	50	1	for	for	ADP
fsr-3246	50	2	example	example	NOUN
fsr-3246	50	3	,	,	PUNCT
fsr-3246	50	4	a	a	DET
fsr-3246	50	5	3	3	NUM
fsr-3246	50	6	%	%	NOUN
fsr-3246	50	7	cap	cap	NOUN
fsr-3246	50	8	means	mean	VERB
fsr-3246	50	9	that	that	SCONJ
fsr-3246	50	10	the	the	DET
fsr-3246	50	11	interest	interest	NOUN
fsr-3246	50	12	credit	credit	NOUN
fsr-3246	50	13	will	will	AUX
fsr-3246	50	14	be	be	AUX
fsr-3246	50	15	limited	limit	VERB
fsr-3246	50	16	to	to	ADP
fsr-3246	50	17	3	3	NUM
fsr-3246	50	18	%	%	NOUN
fsr-3246	50	19	of	of	ADP
fsr-3246	50	20	the	the	DET
fsr-3246	50	21	eia	eia	PROPN
fsr-3246	50	22	contract	contract	NOUN
fsr-3246	50	23	value	value	NOUN
fsr-3246	50	24	,	,	PUNCT
fsr-3246	50	25	regardless	regardless	ADV
fsr-3246	50	26	of	of	ADP
fsr-3246	50	27	how	how	SCONJ
fsr-3246	50	28	much	much	ADJ
fsr-3246	50	29	the	the	DET
fsr-3246	50	30	underlying	underlie	VERB
fsr-3246	50	31	equity	equity	NOUN
fsr-3246	50	32	index	index	NOUN
fsr-3246	50	33	actually	actually	ADV
fsr-3246	50	34	increased	increase	VERB
fsr-3246	50	35	.	.	PUNCT
fsr-3246	51	1	for	for	ADP
fsr-3246	51	2	contracts	contract	NOUN
fsr-3246	51	3	with	with	ADP
fsr-3246	51	4	annual	annual	ADJ
fsr-3246	51	5	resets	reset	NOUN
fsr-3246	51	6	,	,	PUNCT
fsr-3246	51	7	insurance	insurance	NOUN
fsr-3246	51	8	companies	company	NOUN
fsr-3246	51	9	usually	usually	ADV
fsr-3246	51	10	have	have	VERB
fsr-3246	51	11	the	the	DET
fsr-3246	51	12	option	option	NOUN
fsr-3246	51	13	to	to	PART
fsr-3246	51	14	change	change	VERB
fsr-3246	51	15	the	the	DET
fsr-3246	51	16	cap	cap	NOUN
fsr-3246	51	17	rates	rate	NOUN
fsr-3246	51	18	.	.	PUNCT
fsr-3246	52	1	contracts	contract	NOUN
fsr-3246	52	2	may	may	AUX
fsr-3246	52	3	also	also	ADV
fsr-3246	52	4	specify	specify	VERB
fsr-3246	52	5	a	a	DET
fsr-3246	52	6	minimum	minimum	ADJ
fsr-3246	52	7	cap	cap	NOUN
fsr-3246	52	8	rate	rate	NOUN
fsr-3246	52	9	for	for	ADP
fsr-3246	52	10	the	the	DET
fsr-3246	52	11	contract	contract	NOUN
fsr-3246	52	12	term	term	NOUN
fsr-3246	52	13	.	.	PUNCT
fsr-3246	53	1	in	in	ADP
fsr-3246	53	2	addition	addition	NOUN
fsr-3246	53	3	to	to	ADP
fsr-3246	53	4	a	a	DET
fsr-3246	53	5	cap	cap	NOUN
fsr-3246	53	6	rate	rate	NOUN
fsr-3246	53	7	,	,	PUNCT
fsr-3246	53	8	a	a	DET
fsr-3246	53	9	participation	participation	NOUN
fsr-3246	53	10	rate	rate	NOUN
fsr-3246	53	11	indicates	indicate	VERB
fsr-3246	53	12	what	what	DET
fsr-3246	53	13	percentage	percentage	NOUN
fsr-3246	53	14	of	of	ADP
fsr-3246	53	15	the	the	DET
fsr-3246	53	16	index	index	NOUN
fsr-3246	53	17	increase	increase	NOUN
fsr-3246	53	18	will	will	AUX
fsr-3246	53	19	be	be	AUX
fsr-3246	53	20	used	use	VERB
fsr-3246	53	21	to	to	PART
fsr-3246	53	22	calculate	calculate	VERB
fsr-3246	53	23	the	the	DET
fsr-3246	53	24	interest	interest	NOUN
fsr-3246	53	25	credit	credit	NOUN
fsr-3246	53	26	.	.	PUNCT
fsr-3246	54	1	for	for	ADP
fsr-3246	54	2	example	example	NOUN
fsr-3246	54	3	,	,	PUNCT
fsr-3246	54	4	if	if	SCONJ
fsr-3246	54	5	the	the	DET
fsr-3246	54	6	participation	participation	NOUN
fsr-3246	54	7	rate	rate	NOUN
fsr-3246	54	8	is	be	AUX
fsr-3246	54	9	80	80	NUM
fsr-3246	54	10	%	%	NOUN
fsr-3246	54	11	and	and	CCONJ
fsr-3246	54	12	the	the	DET
fsr-3246	54	13	percentage	percentage	NOUN
fsr-3246	54	14	change	change	NOUN
fsr-3246	54	15	in	in	ADP
fsr-3246	54	16	the	the	DET
fsr-3246	54	17	index	index	NOUN
fsr-3246	54	18	is	be	AUX
fsr-3246	54	19	6	6	NUM
fsr-3246	54	20	%	%	NOUN
fsr-3246	54	21	,	,	PUNCT
fsr-3246	54	22	then	then	ADV
fsr-3246	54	23	4.8	4.8	NUM
fsr-3246	54	24	%	%	NOUN
fsr-3246	54	25	(	(	PUNCT
fsr-3246	54	26	80	80	NUM
fsr-3246	54	27	%	%	NOUN
fsr-3246	54	28	�	�	PROPN
fsr-3246	54	29	6	6	NUM
fsr-3246	54	30	%	%	NOUN
fsr-3246	54	31	)	)	PUNCT
fsr-3246	54	32	would	would	AUX
fsr-3246	54	33	be	be	AUX
fsr-3246	54	34	the	the	DET
fsr-3246	54	35	rate	rate	NOUN
fsr-3246	54	36	used	use	VERB
fsr-3246	54	37	to	to	PART
fsr-3246	54	38	determine	determine	VERB
fsr-3246	54	39	the	the	DET
fsr-3246	54	40	interest	interest	NOUN
fsr-3246	54	41	credit	credit	NOUN
fsr-3246	54	42	.	.	PUNCT
fsr-3246	55	1	like	like	ADP
fsr-3246	55	2	cap	cap	NOUN
fsr-3246	55	3	rates	rate	NOUN
fsr-3246	55	4	,	,	PUNCT
fsr-3246	55	5	the	the	DET
fsr-3246	55	6	initial	initial	ADJ
fsr-3246	55	7	participation	participation	NOUN
fsr-3246	55	8	rate	rate	NOUN
fsr-3246	55	9	is	be	AUX
fsr-3246	55	10	usually	usually	ADV
fsr-3246	55	11	guaranteed	guarantee	VERB
fsr-3246	55	12	and	and	CCONJ
fsr-3246	55	13	after	after	ADP
fsr-3246	55	14	the	the	DET
fsr-3246	55	15	first	first	ADJ
fsr-3246	55	16	year	year	NOUN
fsr-3246	55	17	the	the	DET
fsr-3246	55	18	insurance	insurance	NOUN
fsr-3246	55	19	company	company	NOUN
fsr-3246	55	20	has	have	VERB
fsr-3246	55	21	the	the	DET
fsr-3246	55	22	option	option	NOUN
fsr-3246	55	23	of	of	ADP
fsr-3246	55	24	changing	change	VERB
fsr-3246	55	25	the	the	DET
fsr-3246	55	26	rate	rate	NOUN
fsr-3246	55	27	.	.	PUNCT
fsr-3246	56	1	with	with	ADP
fsr-3246	56	2	a	a	DET
fsr-3246	56	3	spread	spread	NOUN
fsr-3246	56	4	or	or	CCONJ
fsr-3246	56	5	margin	margin	NOUN
fsr-3246	56	6	,	,	PUNCT
fsr-3246	56	7	the	the	DET
fsr-3246	56	8	interest	interest	NOUN
fsr-3246	56	9	rate	rate	NOUN
fsr-3246	56	10	used	use	VERB
fsr-3246	56	11	to	to	PART
fsr-3246	56	12	calculate	calculate	VERB
fsr-3246	56	13	the	the	DET
fsr-3246	56	14	interest	interest	NOUN
fsr-3246	56	15	credit	credit	NOUN
fsr-3246	56	16	is	be	AUX
fsr-3246	56	17	determined	determine	VERB
fsr-3246	56	18	by	by	ADP
fsr-3246	56	19	subtracting	subtract	VERB
fsr-3246	56	20	a	a	DET
fsr-3246	56	21	“	"	PUNCT
fsr-3246	56	22	spread	spread	NOUN
fsr-3246	56	23	”	"	PUNCT
fsr-3246	56	24	or	or	CCONJ
fsr-3246	56	25	“	"	PUNCT
fsr-3246	56	26	margin	margin	NOUN
fsr-3246	56	27	”	"	PUNCT
fsr-3246	56	28	from	from	ADP
fsr-3246	56	29	the	the	DET
fsr-3246	56	30	percentage	percentage	NOUN
fsr-3246	56	31	change	change	NOUN
fsr-3246	56	32	in	in	ADP
fsr-3246	56	33	the	the	DET
fsr-3246	56	34	index	index	NOUN
fsr-3246	56	35	.	.	PUNCT
fsr-3246	57	1	for	for	ADP
fsr-3246	57	2	example	example	NOUN
fsr-3246	57	3	,	,	PUNCT
fsr-3246	57	4	if	if	SCONJ
fsr-3246	57	5	the	the	DET
fsr-3246	57	6	spread	spread	NOUN
fsr-3246	57	7	is	be	AUX
fsr-3246	57	8	2.5	2.5	NUM
fsr-3246	57	9	%	%	NOUN
fsr-3246	57	10	and	and	CCONJ
fsr-3246	57	11	the	the	DET
fsr-3246	57	12	percentage	percentage	NOUN
fsr-3246	57	13	change	change	NOUN
fsr-3246	57	14	in	in	ADP
fsr-3246	57	15	the	the	DET
fsr-3246	57	16	underlying	underlie	VERB
fsr-3246	57	17	equity	equity	NOUN
fsr-3246	57	18	index	index	NOUN
fsr-3246	57	19	value	value	NOUN
fsr-3246	57	20	,	,	PUNCT
fsr-3246	57	21	however	however	ADV
fsr-3246	57	22	calculated	calculate	VERB
fsr-3246	57	23	,	,	PUNCT
fsr-3246	57	24	is	be	AUX
fsr-3246	57	25	7	7	NUM
fsr-3246	57	26	%	%	NOUN
fsr-3246	57	27	,	,	PUNCT
fsr-3246	57	28	then	then	ADV
fsr-3246	57	29	4.5	4.5	NUM
fsr-3246	57	30	%	%	NOUN
fsr-3246	57	31	(	(	PUNCT
fsr-3246	57	32	7	7	NUM
fsr-3246	57	33	%	%	NOUN
fsr-3246	57	34	to	to	PART
fsr-3246	57	35	2.5	2.5	NUM
fsr-3246	57	36	%	%	NOUN
fsr-3246	57	37	)	)	PUNCT
fsr-3246	57	38	would	would	AUX
fsr-3246	57	39	be	be	AUX
fsr-3246	57	40	used	use	VERB
fsr-3246	57	41	to	to	PART
fsr-3246	57	42	determine	determine	VERB
fsr-3246	57	43	the	the	DET
fsr-3246	57	44	interest	interest	NOUN
fsr-3246	57	45	credit	credit	NOUN
fsr-3246	57	46	.	.	PUNCT
fsr-3246	58	1	some	some	DET
fsr-3246	58	2	contracts	contract	NOUN
fsr-3246	58	3	specify	specify	VERB
fsr-3246	58	4	a	a	DET
fsr-3246	58	5	maximum	maximum	ADJ
fsr-3246	58	6	spread	spread	NOUN
fsr-3246	58	7	and	and	CCONJ
fsr-3246	58	8	some	some	DET
fsr-3246	58	9	contracts	contract	NOUN
fsr-3246	58	10	will	will	AUX
fsr-3246	58	11	combine	combine	VERB
fsr-3246	58	12	a	a	DET
fsr-3246	58	13	spread	spread	NOUN
fsr-3246	58	14	with	with	ADP
fsr-3246	58	15	a	a	DET
fsr-3246	58	16	cap	cap	NOUN
fsr-3246	58	17	.	.	PUNCT
fsr-3246	59	1	finally	finally	ADV
fsr-3246	59	2	,	,	PUNCT
fsr-3246	59	3	eias	eias	PROPN
fsr-3246	59	4	have	have	VERB
fsr-3246	59	5	a	a	DET
fsr-3246	59	6	minimum	minimum	ADJ
fsr-3246	59	7	crediting	crediting	NOUN
fsr-3246	59	8	rate	rate	NOUN
fsr-3246	59	9	of	of	ADP
fsr-3246	59	10	0	0	NUM
fsr-3246	59	11	%	%	NOUN
fsr-3246	59	12	,	,	PUNCT
fsr-3246	59	13	which	which	PRON
fsr-3246	59	14	is	be	AUX
fsr-3246	59	15	one	one	NUM
fsr-3246	59	16	of	of	ADP
fsr-3246	59	17	the	the	DET
fsr-3246	59	18	selling	selling	NOUN
fsr-3246	59	19	points	point	NOUN
fsr-3246	59	20	.	.	PUNCT
fsr-3246	60	1	2.2	2.2	NUM
fsr-3246	60	2	.	.	PUNCT
fsr-3246	61	1	contract	contract	NOUN
fsr-3246	61	2	values	value	NOUN
fsr-3246	61	3	most	most	ADJ
fsr-3246	61	4	contracts	contract	NOUN
fsr-3246	61	5	have	have	VERB
fsr-3246	61	6	three	three	NUM
fsr-3246	61	7	different	different	ADJ
fsr-3246	61	8	values	value	NOUN
fsr-3246	61	9	:	:	PUNCT
fsr-3246	61	10	contract	contract	NOUN
fsr-3246	61	11	(	(	PUNCT
fsr-3246	61	12	accumulation	accumulation	NOUN
fsr-3246	61	13	)	)	PUNCT
fsr-3246	61	14	value	value	NOUN
fsr-3246	61	15	,	,	PUNCT
fsr-3246	61	16	guaranteed	guarantee	VERB
fsr-3246	61	17	minimum	minimum	NOUN
fsr-3246	61	18	value	value	NOUN
fsr-3246	61	19	,	,	PUNCT
fsr-3246	61	20	and	and	CCONJ
fsr-3246	61	21	cash	cash	NOUN
fsr-3246	61	22	surrender	surrender	NOUN
fsr-3246	61	23	value	value	NOUN
fsr-3246	61	24	.	.	PUNCT
fsr-3246	62	1	the	the	DET
fsr-3246	62	2	contract	contract	NOUN
fsr-3246	62	3	value	value	NOUN
fsr-3246	62	4	is	be	AUX
fsr-3246	62	5	a	a	DET
fsr-3246	62	6	notional	notional	ADJ
fsr-3246	62	7	amount	amount	NOUN
fsr-3246	62	8	equal	equal	ADJ
fsr-3246	62	9	to	to	ADP
fsr-3246	62	10	the	the	DET
fsr-3246	62	11	original	original	ADJ
fsr-3246	62	12	premium	premium	NOUN
fsr-3246	62	13	amount	amount	NOUN
fsr-3246	62	14	plus	plus	CCONJ
fsr-3246	62	15	any	any	DET
fsr-3246	62	16	vested	vested	ADJ
fsr-3246	62	17	bonus	bonus	NOUN
fsr-3246	62	18	plus	plus	CCONJ
fsr-3246	62	19	interest	interest	NOUN
fsr-3246	62	20	credited	credit	VERB
fsr-3246	62	21	,	,	PUNCT
fsr-3246	62	22	less	less	ADJ
fsr-3246	62	23	withdrawals	withdrawal	NOUN
fsr-3246	62	24	.	.	PUNCT
fsr-3246	63	1	the	the	DET
fsr-3246	63	2	guaranteed	guarantee	VERB
fsr-3246	63	3	minimum	minimum	NOUN
fsr-3246	63	4	value	value	NOUN
fsr-3246	63	5	is	be	AUX
fsr-3246	63	6	calculated	calculate	VERB
fsr-3246	63	7	as	as	ADP
fsr-3246	63	8	a	a	DET
fsr-3246	63	9	percentage	percentage	NOUN
fsr-3246	63	10	of	of	ADP
fsr-3246	63	11	the	the	DET
fsr-3246	63	12	initial	initial	ADJ
fsr-3246	63	13	premium	premium	NOUN
fsr-3246	63	14	,	,	PUNCT
fsr-3246	63	15	and	and	CCONJ
fsr-3246	63	16	increases	increase	NOUN
fsr-3246	63	17	each	each	DET
fsr-3246	63	18	year	year	NOUN
fsr-3246	63	19	by	by	ADP
fsr-3246	63	20	the	the	DET
fsr-3246	63	21	guaranteed	guarantee	VERB
fsr-3246	63	22	minimum	minimum	ADJ
fsr-3246	63	23	interest	interest	NOUN
fsr-3246	63	24	rate	rate	NOUN
fsr-3246	63	25	specified	specify	VERB
fsr-3246	63	26	in	in	ADP
fsr-3246	63	27	the	the	DET
fsr-3246	63	28	contract	contract	NOUN
fsr-3246	63	29	.	.	PUNCT
fsr-3246	64	1	this	this	DET
fsr-3246	64	2	table	table	NOUN
fsr-3246	64	3	of	of	ADP
fsr-3246	64	4	values	value	NOUN
fsr-3246	64	5	is	be	AUX
fsr-3246	64	6	calculated	calculate	VERB
fsr-3246	64	7	at	at	ADP
fsr-3246	64	8	the	the	DET
fsr-3246	64	9	time	time	NOUN
fsr-3246	64	10	of	of	ADP
fsr-3246	64	11	the	the	DET
fsr-3246	64	12	contract	contract	NOUN
fsr-3246	64	13	and	and	CCONJ
fsr-3246	64	14	does	do	AUX
fsr-3246	64	15	not	not	PART
fsr-3246	64	16	change	change	VERB
fsr-3246	64	17	.	.	PUNCT
fsr-3246	65	1	the	the	DET
fsr-3246	65	2	cash	cash	NOUN
fsr-3246	65	3	surrender	surrender	NOUN
fsr-3246	65	4	value	value	NOUN
fsr-3246	65	5	is	be	AUX
fsr-3246	65	6	usually	usually	ADV
fsr-3246	65	7	the	the	DET
fsr-3246	65	8	greater	great	ADJ
fsr-3246	65	9	of	of	ADP
fsr-3246	65	10	the	the	DET
fsr-3246	65	11	contract	contract	NOUN
fsr-3246	65	12	value	value	NOUN
fsr-3246	65	13	less	less	ADJ
fsr-3246	65	14	surrender	surrender	NOUN
fsr-3246	65	15	charges	charge	NOUN
fsr-3246	65	16	,	,	PUNCT
fsr-3246	65	17	or	or	CCONJ
fsr-3246	65	18	the	the	DET
fsr-3246	65	19	guaranteed	guarantee	VERB
fsr-3246	65	20	minimum	minimum	NOUN
fsr-3246	65	21	value	value	NOUN
fsr-3246	65	22	.	.	PUNCT
fsr-3246	66	1	surrender	surrender	NOUN
fsr-3246	66	2	charges	charge	NOUN
fsr-3246	66	3	can	can	AUX
fsr-3246	66	4	start	start	VERB
fsr-3246	66	5	out	out	ADP
fsr-3246	66	6	as	as	ADV
fsr-3246	66	7	high	high	ADJ
fsr-3246	66	8	as	as	ADP
fsr-3246	66	9	20	20	NUM
fsr-3246	66	10	%	%	NOUN
fsr-3246	66	11	and	and	CCONJ
fsr-3246	66	12	last	last	ADJ
fsr-3246	66	13	15	15	NUM
fsr-3246	66	14	or	or	CCONJ
fsr-3246	66	15	more	more	ADJ
fsr-3246	66	16	years	year	NOUN
fsr-3246	66	17	.	.	PUNCT
fsr-3246	67	1	the	the	DET
fsr-3246	67	2	actual	actual	ADJ
fsr-3246	67	3	cash	cash	NOUN
fsr-3246	67	4	surrender	surrender	NOUN
fsr-3246	67	5	value	value	NOUN
fsr-3246	67	6	over	over	ADP
fsr-3246	67	7	time	time	NOUN
fsr-3246	67	8	will	will	AUX
fsr-3246	67	9	be	be	AUX
fsr-3246	67	10	higher	high	ADJ
fsr-3246	67	11	than	than	ADP
fsr-3246	67	12	that	that	PRON
fsr-3246	67	13	included	include	VERB
fsr-3246	67	14	in	in	ADP
fsr-3246	67	15	the	the	DET
fsr-3246	67	16	contract	contract	NOUN
fsr-3246	67	17	illustration	illustration	NOUN
fsr-3246	67	18	page	page	NOUN
fsr-3246	67	19	on	on	ADP
fsr-3246	67	20	contract	contract	NOUN
fsr-3246	67	21	date	date	NOUN
fsr-3246	67	22	if	if	SCONJ
fsr-3246	67	23	the	the	DET
fsr-3246	67	24	interest	interest	NOUN
fsr-3246	67	25	rate	rate	NOUN
fsr-3246	67	26	calculated	calculate	VERB
fsr-3246	67	27	from	from	ADP
fsr-3246	67	28	the	the	DET
fsr-3246	67	29	index	index	NOUN
fsr-3246	67	30	formula	formula	NOUN
fsr-3246	67	31	is	be	AUX
fsr-3246	67	32	greater	great	ADJ
fsr-3246	67	33	than	than	ADP
fsr-3246	67	34	the	the	DET
fsr-3246	67	35	guaranteed	guarantee	VERB
fsr-3246	67	36	minimum	minimum	ADJ
fsr-3246	67	37	interest	interest	NOUN
fsr-3246	67	38	rate	rate	NOUN
fsr-3246	67	39	.	.	PUNCT
fsr-3246	68	1	413a	413a	NOUN
fsr-3246	68	2	.	.	PUNCT
fsr-3246	69	1	terry	terry	PROPN
fsr-3246	69	2	,	,	PUNCT
fsr-3246	69	3	e.	e.	PROPN
fsr-3246	69	4	elder	elder	PROPN
fsr-3246	69	5	/	/	SYM
fsr-3246	69	6	financial	financial	ADJ
fsr-3246	69	7	services	service	NOUN
fsr-3246	69	8	review	review	VERB
fsr-3246	69	9	24	24	NUM
fsr-3246	69	10	(	(	PUNCT
fsr-3246	69	11	2015	2015	NUM
fsr-3246	69	12	)	)	PUNCT
fsr-3246	69	13	411–428	411–428	NUM
fsr-3246	69	14	there	there	PRON
fsr-3246	69	15	are	be	VERB
fsr-3246	69	16	some	some	DET
fsr-3246	69	17	very	very	ADV
fsr-3246	69	18	important	important	ADJ
fsr-3246	69	19	things	thing	NOUN
fsr-3246	69	20	to	to	PART
fsr-3246	69	21	note	note	VERB
fsr-3246	69	22	.	.	PUNCT
fsr-3246	70	1	first	first	ADV
fsr-3246	70	2	,	,	PUNCT
fsr-3246	70	3	in	in	ADP
fsr-3246	70	4	many	many	ADJ
fsr-3246	70	5	cases	case	NOUN
fsr-3246	70	6	a	a	DET
fsr-3246	70	7	contract	contract	NOUN
fsr-3246	70	8	will	will	AUX
fsr-3246	70	9	have	have	VERB
fsr-3246	70	10	a	a	DET
fsr-3246	70	11	combination	combination	NOUN
fsr-3246	70	12	of	of	ADP
fsr-3246	70	13	the	the	DET
fsr-3246	70	14	above	above	ADJ
fsr-3246	70	15	limits	limit	NOUN
fsr-3246	70	16	.	.	PUNCT
fsr-3246	71	1	for	for	ADP
fsr-3246	71	2	example	example	NOUN
fsr-3246	71	3	,	,	PUNCT
fsr-3246	71	4	a	a	DET
fsr-3246	71	5	contract	contract	NOUN
fsr-3246	71	6	could	could	AUX
fsr-3246	71	7	have	have	VERB
fsr-3246	71	8	both	both	CCONJ
fsr-3246	71	9	a	a	DET
fsr-3246	71	10	6	6	NUM
fsr-3246	71	11	%	%	NOUN
fsr-3246	71	12	cap	cap	NOUN
fsr-3246	71	13	and	and	CCONJ
fsr-3246	71	14	a	a	DET
fsr-3246	71	15	1.6	1.6	NUM
fsr-3246	71	16	%	%	NOUN
fsr-3246	71	17	margin	margin	NOUN
fsr-3246	71	18	in	in	ADP
fsr-3246	71	19	the	the	DET
fsr-3246	71	20	first	first	ADJ
fsr-3246	71	21	year	year	NOUN
fsr-3246	71	22	.	.	PUNCT
fsr-3246	72	1	the	the	DET
fsr-3246	72	2	length	length	NOUN
fsr-3246	72	3	of	of	ADP
fsr-3246	72	4	the	the	DET
fsr-3246	72	5	surrender	surrender	NOUN
fsr-3246	72	6	period	period	NOUN
fsr-3246	72	7	and	and	CCONJ
fsr-3246	72	8	surrender	surrender	NOUN
fsr-3246	72	9	percentages	percentage	NOUN
fsr-3246	72	10	will	will	AUX
fsr-3246	72	11	also	also	ADV
fsr-3246	72	12	vary	vary	VERB
fsr-3246	72	13	with	with	ADP
fsr-3246	72	14	these	these	DET
fsr-3246	72	15	interest	interest	NOUN
fsr-3246	72	16	credit	credit	NOUN
fsr-3246	72	17	limits	limit	NOUN
fsr-3246	72	18	,	,	PUNCT
fsr-3246	72	19	leading	lead	VERB
fsr-3246	72	20	to	to	ADP
fsr-3246	72	21	a	a	DET
fsr-3246	72	22	myriad	myriad	NOUN
fsr-3246	72	23	of	of	ADP
fsr-3246	72	24	possible	possible	ADJ
fsr-3246	72	25	contract	contract	NOUN
fsr-3246	72	26	combinations	combination	NOUN
fsr-3246	72	27	.	.	PUNCT
fsr-3246	73	1	second	second	ADJ
fsr-3246	73	2	,	,	PUNCT
fsr-3246	73	3	the	the	DET
fsr-3246	73	4	caps	cap	NOUN
fsr-3246	73	5	,	,	PUNCT
fsr-3246	73	6	margins	margin	NOUN
fsr-3246	73	7	,	,	PUNCT
fsr-3246	73	8	and	and	CCONJ
fsr-3246	73	9	participation	participation	NOUN
fsr-3246	73	10	rates	rate	NOUN
fsr-3246	73	11	are	be	AUX
fsr-3246	73	12	typically	typically	ADV
fsr-3246	73	13	guaranteed	guarantee	VERB
fsr-3246	73	14	for	for	ADP
fsr-3246	73	15	only	only	ADV
fsr-3246	73	16	one	one	NUM
fsr-3246	73	17	year	year	NOUN
fsr-3246	73	18	and	and	CCONJ
fsr-3246	73	19	then	then	ADV
fsr-3246	73	20	may	may	AUX
fsr-3246	73	21	be	be	AUX
fsr-3246	73	22	changed	change	VERB
fsr-3246	73	23	at	at	ADP
fsr-3246	73	24	the	the	DET
fsr-3246	73	25	insurance	insurance	NOUN
fsr-3246	73	26	company	company	NOUN
fsr-3246	73	27	’s	’s	PART
fsr-3246	73	28	discretion	discretion	NOUN
fsr-3246	73	29	(	(	PUNCT
fsr-3246	73	30	see	see	VERB
fsr-3246	73	31	the	the	DET
fsr-3246	73	32	economics	economic	NOUN
fsr-3246	73	33	of	of	ADP
fsr-3246	73	34	eias	eia	NOUN
fsr-3246	73	35	below	below	ADP
fsr-3246	73	36	)	)	PUNCT
fsr-3246	73	37	.	.	PUNCT
fsr-3246	74	1	third	third	ADJ
fsr-3246	74	2	and	and	CCONJ
fsr-3246	74	3	really	really	ADV
fsr-3246	74	4	important	important	ADJ
fsr-3246	74	5	is	be	AUX
fsr-3246	74	6	that	that	SCONJ
fsr-3246	74	7	there	there	PRON
fsr-3246	74	8	is	be	VERB
fsr-3246	74	9	a	a	DET
fsr-3246	74	10	significant	significant	ADJ
fsr-3246	74	11	difference	difference	NOUN
fsr-3246	74	12	in	in	ADP
fsr-3246	74	13	the	the	DET
fsr-3246	74	14	early	early	ADJ
fsr-3246	74	15	years	year	NOUN
fsr-3246	74	16	of	of	ADP
fsr-3246	74	17	a	a	DET
fsr-3246	74	18	contract	contract	NOUN
fsr-3246	74	19	between	between	ADP
fsr-3246	74	20	the	the	DET
fsr-3246	74	21	contract	contract	NOUN
fsr-3246	74	22	value	value	NOUN
fsr-3246	74	23	,	,	PUNCT
fsr-3246	74	24	from	from	ADP
fsr-3246	74	25	which	which	PRON
fsr-3246	74	26	yields	yield	NOUN
fsr-3246	74	27	are	be	AUX
fsr-3246	74	28	calculated	calculate	VERB
fsr-3246	74	29	and	and	CCONJ
fsr-3246	74	30	reported	report	VERB
fsr-3246	74	31	to	to	ADP
fsr-3246	74	32	customers	customer	NOUN
fsr-3246	74	33	on	on	ADP
fsr-3246	74	34	annual	annual	ADJ
fsr-3246	74	35	statements	statement	NOUN
fsr-3246	74	36	,	,	PUNCT
fsr-3246	74	37	discussed	discuss	VERB
fsr-3246	74	38	in	in	ADP
fsr-3246	74	39	marketing	marketing	NOUN
fsr-3246	74	40	efforts	effort	NOUN
fsr-3246	74	41	,	,	PUNCT
fsr-3246	74	42	and	and	CCONJ
fsr-3246	74	43	reported	report	VERB
fsr-3246	74	44	by	by	ADP
fsr-3246	74	45	vanderpal	vanderpal	PROPN
fsr-3246	74	46	et	et	PROPN
fsr-3246	74	47	al	al	PROPN
fsr-3246	74	48	.	.	PROPN
fsr-3246	75	1	(	(	PUNCT
fsr-3246	75	2	2011	2011	NUM
fsr-3246	75	3	)	)	PUNCT
fsr-3246	75	4	and	and	CCONJ
fsr-3246	75	5	the	the	DET
fsr-3246	75	6	cash	cash	NOUN
fsr-3246	75	7	surrender	surrender	NOUN
fsr-3246	75	8	value	value	NOUN
fsr-3246	75	9	,	,	PUNCT
fsr-3246	75	10	from	from	ADP
fsr-3246	75	11	which	which	PRON
fsr-3246	75	12	a	a	DET
fsr-3246	75	13	true	true	ADJ
fsr-3246	75	14	cash	cash	NOUN
fsr-3246	75	15	on	on	ADP
fsr-3246	75	16	cash	cash	NOUN
fsr-3246	75	17	yield	yield	NOUN
fsr-3246	75	18	should	should	AUX
fsr-3246	75	19	be	be	AUX
fsr-3246	75	20	calculated	calculate	VERB
fsr-3246	75	21	.	.	PUNCT
fsr-3246	76	1	the	the	DET
fsr-3246	76	2	implication	implication	NOUN
fsr-3246	76	3	of	of	ADP
fsr-3246	76	4	this	this	DET
fsr-3246	76	5	difference	difference	NOUN
fsr-3246	76	6	is	be	AUX
fsr-3246	76	7	that	that	SCONJ
fsr-3246	76	8	return	return	NOUN
fsr-3246	76	9	comparisons	comparison	NOUN
fsr-3246	76	10	should	should	AUX
fsr-3246	76	11	be	be	AUX
fsr-3246	76	12	made	make	VERB
fsr-3246	76	13	based	base	VERB
fsr-3246	76	14	on	on	ADP
fsr-3246	76	15	surrender	surrender	NOUN
fsr-3246	76	16	values	value	NOUN
fsr-3246	76	17	or	or	CCONJ
fsr-3246	76	18	should	should	AUX
fsr-3246	76	19	examine	examine	VERB
fsr-3246	76	20	investment	investment	NOUN
fsr-3246	76	21	horizons	horizon	NOUN
fsr-3246	76	22	greater	great	ADJ
fsr-3246	76	23	than	than	ADP
fsr-3246	76	24	the	the	DET
fsr-3246	76	25	surrender	surrender	NOUN
fsr-3246	76	26	period	period	NOUN
fsr-3246	76	27	.	.	PUNCT
fsr-3246	77	1	2.3	2.3	NUM
fsr-3246	77	2	.	.	PUNCT
fsr-3246	78	1	insurance	insurance	NOUN
fsr-3246	78	2	features	feature	VERB
fsr-3246	78	3	insurance	insurance	NOUN
fsr-3246	78	4	features	feature	NOUN
fsr-3246	78	5	have	have	AUX
fsr-3246	78	6	already	already	ADV
fsr-3246	78	7	been	be	AUX
fsr-3246	78	8	discussed	discuss	VERB
fsr-3246	78	9	at	at	ADP
fsr-3246	78	10	length	length	NOUN
fsr-3246	78	11	in	in	ADP
fsr-3246	78	12	reichenstein	reichenstein	NOUN
fsr-3246	78	13	(	(	PUNCT
fsr-3246	78	14	2009	2009	NUM
fsr-3246	78	15	)	)	PUNCT
fsr-3246	78	16	and	and	CCONJ
fsr-3246	78	17	mccann	mccann	PROPN
fsr-3246	78	18	(	(	PUNCT
fsr-3246	78	19	2008	2008	NUM
fsr-3246	78	20	)	)	PUNCT
fsr-3246	78	21	and	and	CCONJ
fsr-3246	78	22	are	be	AUX
fsr-3246	78	23	not	not	PART
fsr-3246	78	24	further	far	ADV
fsr-3246	78	25	discussed	discuss	VERB
fsr-3246	78	26	here	here	ADV
fsr-3246	78	27	.	.	PUNCT
fsr-3246	79	1	2.4	2.4	NUM
fsr-3246	79	2	.	.	PUNCT
fsr-3246	80	1	the	the	DET
fsr-3246	80	2	economics	economic	NOUN
fsr-3246	80	3	of	of	ADP
fsr-3246	80	4	eias	eia	NOUN
fsr-3246	80	5	below	below	ADV
fsr-3246	80	6	is	be	AUX
fsr-3246	80	7	an	an	DET
fsr-3246	80	8	excerpt	excerpt	NOUN
fsr-3246	80	9	taken	take	VERB
fsr-3246	80	10	from	from	ADP
fsr-3246	80	11	american	american	PROPN
fsr-3246	80	12	equity	equity	PROPN
fsr-3246	80	13	’s	’s	PART
fsr-3246	80	14	2012	2012	NUM
fsr-3246	80	15	10	10	NUM
fsr-3246	80	16	-	-	PUNCT
fsr-3246	80	17	k	k	PROPN
fsr-3246	80	18	report	report	NOUN
fsr-3246	80	19	to	to	ADP
fsr-3246	80	20	shareholders	shareholder	NOUN
fsr-3246	80	21	that	that	PRON
fsr-3246	80	22	explains	explain	VERB
fsr-3246	80	23	their	their	PRON
fsr-3246	80	24	business	business	NOUN
fsr-3246	80	25	model	model	NOUN
fsr-3246	80	26	:	:	PUNCT
fsr-3246	80	27	we	we	PRON
fsr-3246	80	28	specialize	specialize	VERB
fsr-3246	80	29	in	in	ADP
fsr-3246	80	30	the	the	DET
fsr-3246	80	31	sale	sale	NOUN
fsr-3246	80	32	of	of	ADP
fsr-3246	80	33	individual	individual	ADJ
fsr-3246	80	34	annuities	annuity	NOUN
fsr-3246	80	35	(	(	PUNCT
fsr-3246	80	36	primarily	primarily	ADV
fsr-3246	80	37	deferred	defer	VERB
fsr-3246	80	38	annuities	annuity	NOUN
fsr-3246	80	39	)	)	PUNCT
fsr-3246	80	40	and	and	CCONJ
fsr-3246	80	41	,	,	PUNCT
fsr-3246	80	42	to	to	ADP
fsr-3246	80	43	a	a	DET
fsr-3246	80	44	lesser	less	ADJ
fsr-3246	80	45	extent	extent	NOUN
fsr-3246	80	46	we	we	PRON
fsr-3246	80	47	also	also	ADV
fsr-3246	80	48	sell	sell	VERB
fsr-3246	80	49	life	life	NOUN
fsr-3246	80	50	insurance	insurance	NOUN
fsr-3246	80	51	policies	policy	NOUN
fsr-3246	80	52	.	.	PUNCT
fsr-3246	81	1	under	under	ADP
fsr-3246	81	2	accounting	accounting	NOUN
fsr-3246	81	3	principles	principle	NOUN
fsr-3246	81	4	generally	generally	ADV
fsr-3246	81	5	accepted	accept	VERB
fsr-3246	81	6	in	in	ADP
fsr-3246	81	7	the	the	DET
fsr-3246	81	8	united	united	PROPN
fsr-3246	81	9	states	states	PROPN
fsr-3246	81	10	,	,	PUNCT
fsr-3246	81	11	or	or	CCONJ
fsr-3246	81	12	gaap	gaap	NOUN
fsr-3246	81	13	,	,	PUNCT
fsr-3246	81	14	premium	premium	NOUN
fsr-3246	81	15	collections	collection	NOUN
fsr-3246	81	16	for	for	ADP
fsr-3246	81	17	deferred	deferred	ADJ
fsr-3246	81	18	annuities	annuity	NOUN
fsr-3246	81	19	are	be	AUX
fsr-3246	81	20	reported	report	VERB
fsr-3246	81	21	as	as	ADP
fsr-3246	81	22	deposit	deposit	NOUN
fsr-3246	81	23	liabilities	liability	NOUN
fsr-3246	81	24	instead	instead	ADV
fsr-3246	81	25	of	of	ADP
fsr-3246	81	26	as	as	ADP
fsr-3246	81	27	revenues	revenue	NOUN
fsr-3246	81	28	.	.	PUNCT
fsr-3246	82	1	sources	source	NOUN
fsr-3246	82	2	of	of	ADP
fsr-3246	82	3	revenues	revenue	NOUN
fsr-3246	82	4	for	for	ADP
fsr-3246	82	5	products	product	NOUN
fsr-3246	82	6	accounted	account	VERB
fsr-3246	82	7	for	for	ADP
fsr-3246	82	8	as	as	SCONJ
fsr-3246	82	9	deposit	deposit	NOUN
fsr-3246	82	10	liabilities	liability	NOUN
fsr-3246	82	11	are	be	AUX
fsr-3246	82	12	net	net	ADJ
fsr-3246	82	13	investment	investment	NOUN
fsr-3246	82	14	income	income	NOUN
fsr-3246	82	15	,	,	PUNCT
fsr-3246	82	16	surrender	surrender	NOUN
fsr-3246	82	17	charges	charge	NOUN
fsr-3246	82	18	deducted	deduct	VERB
fsr-3246	82	19	from	from	ADP
fsr-3246	82	20	the	the	DET
fsr-3246	82	21	account	account	NOUN
fsr-3246	82	22	balances	balance	NOUN
fsr-3246	82	23	of	of	ADP
fsr-3246	82	24	policyholders	policyholder	NOUN
fsr-3246	82	25	in	in	ADP
fsr-3246	82	26	connection	connection	NOUN
fsr-3246	82	27	with	with	ADP
fsr-3246	82	28	withdrawals	withdrawal	NOUN
fsr-3246	82	29	,	,	PUNCT
fsr-3246	82	30	realized	realize	VERB
fsr-3246	82	31	gains	gain	NOUN
fsr-3246	82	32	and	and	CCONJ
fsr-3246	82	33	losses	loss	NOUN
fsr-3246	82	34	on	on	ADP
fsr-3246	82	35	investments	investment	NOUN
fsr-3246	82	36	and	and	CCONJ
fsr-3246	82	37	changes	change	NOUN
fsr-3246	82	38	in	in	ADP
fsr-3246	82	39	fair	fair	ADJ
fsr-3246	82	40	value	value	NOUN
fsr-3246	82	41	of	of	ADP
fsr-3246	82	42	derivatives	derivative	NOUN
fsr-3246	82	43	.	.	PUNCT
fsr-3246	83	1	components	component	NOUN
fsr-3246	83	2	of	of	ADP
fsr-3246	83	3	expenses	expense	NOUN
fsr-3246	83	4	for	for	ADP
fsr-3246	83	5	products	product	NOUN
fsr-3246	83	6	accounted	account	VERB
fsr-3246	83	7	for	for	ADP
fsr-3246	83	8	as	as	ADP
fsr-3246	83	9	deposit	deposit	NOUN
fsr-3246	83	10	liabilities	liability	NOUN
fsr-3246	83	11	are	be	AUX
fsr-3246	83	12	interest	interest	NOUN
fsr-3246	83	13	credited	credit	VERB
fsr-3246	83	14	to	to	ADP
fsr-3246	83	15	account	account	NOUN
fsr-3246	83	16	balances	balance	NOUN
fsr-3246	83	17	,	,	PUNCT
fsr-3246	83	18	changes	change	NOUN
fsr-3246	83	19	in	in	ADP
fsr-3246	83	20	fair	fair	ADJ
fsr-3246	83	21	value	value	NOUN
fsr-3246	83	22	of	of	ADP
fsr-3246	83	23	embedded	embed	VERB
fsr-3246	83	24	derivatives	derivative	NOUN
fsr-3246	83	25	,	,	PUNCT
fsr-3246	83	26	amortization	amortization	NOUN
fsr-3246	83	27	of	of	ADP
fsr-3246	83	28	deferred	defer	VERB
fsr-3246	83	29	policy	policy	NOUN
fsr-3246	83	30	acquisition	acquisition	NOUN
fsr-3246	83	31	costs	cost	NOUN
fsr-3246	83	32	,	,	PUNCT
fsr-3246	83	33	other	other	ADJ
fsr-3246	83	34	operating	operating	NOUN
fsr-3246	83	35	costs	cost	NOUN
fsr-3246	83	36	and	and	CCONJ
fsr-3246	83	37	expenses	expense	NOUN
fsr-3246	83	38	and	and	CCONJ
fsr-3246	83	39	income	income	NOUN
fsr-3246	83	40	taxes	taxis	NOUN
fsr-3246	83	41	.	.	PUNCT
fsr-3246	84	1	earnings	earning	NOUN
fsr-3246	84	2	from	from	ADP
fsr-3246	84	3	products	product	NOUN
fsr-3246	84	4	accounted	account	VERB
fsr-3246	84	5	for	for	ADP
fsr-3246	84	6	as	as	SCONJ
fsr-3246	84	7	deposit	deposit	NOUN
fsr-3246	84	8	liabilities	liability	NOUN
fsr-3246	84	9	are	be	AUX
fsr-3246	84	10	primarily	primarily	ADV
fsr-3246	84	11	generated	generate	VERB
fsr-3246	84	12	from	from	ADP
fsr-3246	84	13	the	the	DET
fsr-3246	84	14	excess	excess	NOUN
fsr-3246	84	15	of	of	ADP
fsr-3246	84	16	net	net	ADJ
fsr-3246	84	17	investment	investment	NOUN
fsr-3246	84	18	income	income	NOUN
fsr-3246	84	19	earned	earn	VERB
fsr-3246	84	20	over	over	ADP
fsr-3246	84	21	the	the	DET
fsr-3246	84	22	interest	interest	NOUN
fsr-3246	84	23	credited	credit	VERB
fsr-3246	84	24	to	to	ADP
fsr-3246	84	25	the	the	DET
fsr-3246	84	26	policyholder	policyholder	NOUN
fsr-3246	84	27	,	,	PUNCT
fsr-3246	84	28	or	or	CCONJ
fsr-3246	84	29	the	the	DET
fsr-3246	84	30	“	"	PUNCT
fsr-3246	84	31	investment	investment	NOUN
fsr-3246	84	32	spread	spread	NOUN
fsr-3246	84	33	.	.	PUNCT
fsr-3246	84	34	”	"	PUNCT
fsr-3246	85	1	in	in	ADP
fsr-3246	85	2	the	the	DET
fsr-3246	85	3	case	case	NOUN
fsr-3246	85	4	of	of	ADP
fsr-3246	85	5	index	index	NOUN
fsr-3246	85	6	annuities	annuity	NOUN
fsr-3246	85	7	,	,	PUNCT
fsr-3246	85	8	the	the	DET
fsr-3246	85	9	investment	investment	NOUN
fsr-3246	85	10	spread	spread	VERB
fsr-3246	85	11	consists	consist	VERB
fsr-3246	85	12	of	of	ADP
fsr-3246	85	13	net	net	ADJ
fsr-3246	85	14	investment	investment	NOUN
fsr-3246	85	15	income	income	NOUN
fsr-3246	85	16	in	in	ADP
fsr-3246	85	17	excess	excess	NOUN
fsr-3246	85	18	of	of	ADP
fsr-3246	85	19	the	the	DET
fsr-3246	85	20	cost	cost	NOUN
fsr-3246	85	21	of	of	ADP
fsr-3246	85	22	the	the	DET
fsr-3246	85	23	options	option	NOUN
fsr-3246	85	24	purchased	purchase	VERB
fsr-3246	85	25	to	to	PART
fsr-3246	85	26	fund	fund	VERB
fsr-3246	85	27	the	the	DET
fsr-3246	85	28	index	index	NOUN
fsr-3246	85	29	-	-	PUNCT
fsr-3246	85	30	based	base	VERB
fsr-3246	85	31	component	component	NOUN
fsr-3246	85	32	of	of	ADP
fsr-3246	85	33	the	the	DET
fsr-3246	85	34	policyholder	policyholder	NOUN
fsr-3246	85	35	’s	’s	PART
fsr-3246	85	36	return	return	NOUN
fsr-3246	85	37	and	and	CCONJ
fsr-3246	85	38	amounts	amount	NOUN
fsr-3246	85	39	credited	credit	VERB
fsr-3246	85	40	as	as	ADP
fsr-3246	85	41	a	a	DET
fsr-3246	85	42	result	result	NOUN
fsr-3246	85	43	of	of	ADP
fsr-3246	85	44	minimum	minimum	ADJ
fsr-3246	85	45	guarantees	guarantee	NOUN
fsr-3246	85	46	.	.	PUNCT
fsr-3246	86	1	(	(	PUNCT
fsr-3246	86	2	american	american	ADJ
fsr-3246	86	3	equity	equity	NOUN
fsr-3246	86	4	2012	2012	NUM
fsr-3246	86	5	10	10	NUM
fsr-3246	86	6	-	-	SYM
fsr-3246	86	7	k	k	NOUN
fsr-3246	86	8	,	,	PUNCT
fsr-3246	86	9	pages	page	NOUN
fsr-3246	86	10	18–19	18–19	NUM
fsr-3246	86	11	)	)	PUNCT
fsr-3246	86	12	further	far	ADV
fsr-3246	86	13	,	,	PUNCT
fsr-3246	86	14	according	accord	VERB
fsr-3246	86	15	to	to	ADP
fsr-3246	86	16	american	american	PROPN
fsr-3246	86	17	equity	equity	PROPN
fsr-3246	86	18	’s	’s	PART
fsr-3246	86	19	12/31/12	12/31/12	NUM
fsr-3246	86	20	10	10	NUM
fsr-3246	86	21	-	-	PUNCT
fsr-3246	86	22	k	k	NOUN
fsr-3246	86	23	,	,	PUNCT
fsr-3246	86	24	note	note	VERB
fsr-3246	86	25	5	5	NUM
fsr-3246	86	26	to	to	ADP
fsr-3246	86	27	the	the	DET
fsr-3246	86	28	financial	financial	ADJ
fsr-3246	86	29	statements	statement	NOUN
fsr-3246	86	30	,	,	PUNCT
fsr-3246	86	31	“	"	PUNCT
fsr-3246	86	32	on	on	ADP
fsr-3246	86	33	the	the	DET
fsr-3246	86	34	respective	respective	ADJ
fsr-3246	86	35	anniversary	anniversary	NOUN
fsr-3246	86	36	dates	date	NOUN
fsr-3246	86	37	of	of	ADP
fsr-3246	86	38	the	the	DET
fsr-3246	86	39	index	index	NOUN
fsr-3246	86	40	policies	policy	NOUN
fsr-3246	86	41	,	,	PUNCT
fsr-3246	86	42	the	the	DET
fsr-3246	86	43	index	index	NOUN
fsr-3246	86	44	used	use	VERB
fsr-3246	86	45	to	to	PART
fsr-3246	86	46	compute	compute	VERB
fsr-3246	86	47	the	the	DET
fsr-3246	86	48	annual	annual	ADJ
fsr-3246	86	49	index	index	NOUN
fsr-3246	86	50	credit	credit	NOUN
fsr-3246	86	51	is	be	AUX
fsr-3246	86	52	reset	reset	ADJ
fsr-3246	86	53	and	and	CCONJ
fsr-3246	86	54	we	we	PRON
fsr-3246	86	55	purchase	purchase	VERB
fsr-3246	86	56	new	new	ADJ
fsr-3246	86	57	one	one	NUM
fsr-3246	86	58	-	-	PUNCT
fsr-3246	86	59	year	year	NOUN
fsr-3246	86	60	call	call	NOUN
fsr-3246	86	61	options	option	NOUN
fsr-3246	86	62	to	to	PART
fsr-3246	86	63	fund	fund	VERB
fsr-3246	86	64	the	the	DET
fsr-3246	86	65	next	next	ADJ
fsr-3246	86	66	annual	annual	ADJ
fsr-3246	86	67	index	index	NOUN
fsr-3246	86	68	credit	credit	NOUN
fsr-3246	86	69	.	.	PUNCT
fsr-3246	87	1	we	we	PRON
fsr-3246	87	2	manage	manage	VERB
fsr-3246	87	3	the	the	DET
fsr-3246	87	4	cost	cost	NOUN
fsr-3246	87	5	of	of	ADP
fsr-3246	87	6	these	these	DET
fsr-3246	87	7	purchases	purchase	NOUN
fsr-3246	87	8	through	through	ADP
fsr-3246	87	9	the	the	DET
fsr-3246	87	10	terms	term	NOUN
fsr-3246	87	11	of	of	ADP
fsr-3246	87	12	our	our	PRON
fsr-3246	87	13	fixed	fix	VERB
fsr-3246	87	14	index	index	NOUN
fsr-3246	87	15	annuities	annuity	NOUN
fsr-3246	87	16	,	,	PUNCT
fsr-3246	87	17	which	which	PRON
fsr-3246	87	18	permit	permit	VERB
fsr-3246	87	19	us	we	PRON
fsr-3246	87	20	to	to	PART
fsr-3246	87	21	change	change	VERB
fsr-3246	87	22	caps	cap	NOUN
fsr-3246	87	23	,	,	PUNCT
fsr-3246	87	24	participation	participation	NOUN
fsr-3246	87	25	rates	rate	NOUN
fsr-3246	87	26	,	,	PUNCT
fsr-3246	87	27	and/or	and/or	CCONJ
fsr-3246	87	28	asset	asset	NOUN
fsr-3246	87	29	fees	fee	NOUN
fsr-3246	87	30	,	,	PUNCT
fsr-3246	87	31	414	414	NUM
fsr-3246	87	32	a.	a.	NOUN
fsr-3246	87	33	terry	terry	PROPN
fsr-3246	87	34	,	,	PUNCT
fsr-3246	87	35	e.	e.	PROPN
fsr-3246	87	36	elder	elder	PROPN
fsr-3246	87	37	/	/	SYM
fsr-3246	87	38	financial	financial	ADJ
fsr-3246	87	39	services	service	NOUN
fsr-3246	87	40	review	review	VERB
fsr-3246	87	41	24	24	NUM
fsr-3246	87	42	(	(	PUNCT
fsr-3246	87	43	2015	2015	NUM
fsr-3246	87	44	)	)	PUNCT
fsr-3246	87	45	411–428	411–428	NUM
fsr-3246	87	46	subject	subject	NOUN
fsr-3246	87	47	to	to	ADP
fsr-3246	87	48	guaranteed	guarantee	VERB
fsr-3246	87	49	minimums	minimum	NOUN
fsr-3246	87	50	on	on	ADP
fsr-3246	87	51	each	each	DET
fsr-3246	87	52	policy	policy	NOUN
fsr-3246	87	53	’s	’s	PART
fsr-3246	87	54	anniversary	anniversary	NOUN
fsr-3246	87	55	date	date	NOUN
fsr-3246	87	56	.	.	PUNCT
fsr-3246	88	1	by	by	ADP
fsr-3246	88	2	adjusting	adjust	VERB
fsr-3246	88	3	caps	cap	NOUN
fsr-3246	88	4	,	,	PUNCT
fsr-3246	88	5	participation	participation	NOUN
fsr-3246	88	6	rates	rate	NOUN
fsr-3246	88	7	,	,	PUNCT
fsr-3246	88	8	or	or	CCONJ
fsr-3246	88	9	asset	asset	NOUN
fsr-3246	88	10	fees	fee	NOUN
fsr-3246	88	11	,	,	PUNCT
fsr-3246	88	12	we	we	PRON
fsr-3246	88	13	can	can	AUX
fsr-3246	88	14	generally	generally	ADV
fsr-3246	88	15	manage	manage	VERB
fsr-3246	88	16	option	option	NOUN
fsr-3246	88	17	costs	cost	NOUN
fsr-3246	88	18	except	except	SCONJ
fsr-3246	88	19	in	in	ADP
fsr-3246	88	20	cases	case	NOUN
fsr-3246	88	21	where	where	SCONJ
fsr-3246	88	22	the	the	DET
fsr-3246	88	23	contractual	contractual	ADJ
fsr-3246	88	24	features	feature	NOUN
fsr-3246	88	25	would	would	AUX
fsr-3246	88	26	prevent	prevent	VERB
fsr-3246	88	27	further	further	ADJ
fsr-3246	88	28	modifications	modification	NOUN
fsr-3246	88	29	.	.	PUNCT
fsr-3246	88	30	”	"	PUNCT
fsr-3246	89	1	(	(	PUNCT
fsr-3246	89	2	italics	italic	NOUN
fsr-3246	89	3	added	add	VERB
fsr-3246	89	4	)	)	PUNCT
fsr-3246	89	5	american	american	PROPN
fsr-3246	89	6	equity	equity	PROPN
fsr-3246	89	7	and	and	CCONJ
fsr-3246	89	8	other	other	ADJ
fsr-3246	89	9	companies	company	NOUN
fsr-3246	89	10	selling	sell	VERB
fsr-3246	89	11	eias	eia	NOUN
fsr-3246	89	12	,	,	PUNCT
fsr-3246	89	13	collect	collect	VERB
fsr-3246	89	14	premiums	premium	NOUN
fsr-3246	89	15	from	from	ADP
fsr-3246	89	16	customers	customer	NOUN
fsr-3246	89	17	,	,	PUNCT
fsr-3246	89	18	which	which	PRON
fsr-3246	89	19	they	they	PRON
fsr-3246	89	20	treat	treat	VERB
fsr-3246	89	21	as	as	ADP
fsr-3246	89	22	deposit	deposit	NOUN
fsr-3246	89	23	liabilities	liability	NOUN
fsr-3246	89	24	,	,	PUNCT
fsr-3246	89	25	as	as	SCONJ
fsr-3246	89	26	would	would	AUX
fsr-3246	89	27	a	a	DET
fsr-3246	89	28	bank	bank	NOUN
fsr-3246	89	29	,	,	PUNCT
fsr-3246	89	30	and	and	CCONJ
fsr-3246	89	31	then	then	ADV
fsr-3246	89	32	invest	invest	VERB
fsr-3246	89	33	the	the	DET
fsr-3246	89	34	money	money	NOUN
fsr-3246	89	35	.	.	PUNCT
fsr-3246	90	1	their	their	PRON
fsr-3246	90	2	investment	investment	NOUN
fsr-3246	90	3	portfolio	portfolio	NOUN
fsr-3246	90	4	consists	consist	VERB
fsr-3246	90	5	mostly	mostly	ADV
fsr-3246	90	6	of	of	ADP
fsr-3246	90	7	highly	highly	ADV
fsr-3246	90	8	rated	rate	VERB
fsr-3246	90	9	corporate	corporate	ADJ
fsr-3246	90	10	bonds	bond	NOUN
fsr-3246	90	11	,	,	PUNCT
fsr-3246	90	12	but	but	CCONJ
fsr-3246	90	13	also	also	ADV
fsr-3246	90	14	includes	include	VERB
fsr-3246	90	15	u.s	u.s	PROPN
fsr-3246	90	16	.	.	PROPN
fsr-3246	90	17	treasury	treasury	PROPN
fsr-3246	90	18	and	and	CCONJ
fsr-3246	90	19	government	government	NOUN
fsr-3246	90	20	agency	agency	NOUN
fsr-3246	90	21	securities	security	NOUN
fsr-3246	90	22	,	,	PUNCT
fsr-3246	90	23	state	state	NOUN
fsr-3246	90	24	and	and	CCONJ
fsr-3246	90	25	municipal	municipal	ADJ
fsr-3246	90	26	obligations	obligation	NOUN
fsr-3246	90	27	,	,	PUNCT
fsr-3246	90	28	and	and	CCONJ
fsr-3246	90	29	mortgagebacked	mortgagebacke	VERB
fsr-3246	90	30	securities	security	NOUN
fsr-3246	90	31	.	.	PUNCT
fsr-3246	91	1	because	because	SCONJ
fsr-3246	91	2	equity	equity	NOUN
fsr-3246	91	3	securities	security	NOUN
fsr-3246	91	4	are	be	AUX
fsr-3246	91	5	less	less	ADJ
fsr-3246	91	6	than	than	ADP
fsr-3246	91	7	0.5	0.5	NUM
fsr-3246	91	8	%	%	NOUN
fsr-3246	91	9	of	of	ADP
fsr-3246	91	10	their	their	PRON
fsr-3246	91	11	portfolio	portfolio	NOUN
fsr-3246	91	12	,	,	PUNCT
fsr-3246	91	13	they	they	PRON
fsr-3246	91	14	buy	buy	VERB
fsr-3246	91	15	one	one	NUM
fsr-3246	91	16	-	-	PUNCT
fsr-3246	91	17	year	year	NOUN
fsr-3246	91	18	call	call	NOUN
fsr-3246	91	19	options	option	NOUN
fsr-3246	91	20	on	on	ADP
fsr-3246	91	21	the	the	DET
fsr-3246	91	22	underlying	underlie	VERB
fsr-3246	91	23	indexes	index	NOUN
fsr-3246	91	24	used	use	VERB
fsr-3246	91	25	in	in	ADP
fsr-3246	91	26	their	their	PRON
fsr-3246	91	27	eia	eia	NOUN
fsr-3246	91	28	crediting	crediting	NOUN
fsr-3246	91	29	formulas	formula	NOUN
fsr-3246	91	30	.	.	PUNCT
fsr-3246	92	1	they	they	PRON
fsr-3246	92	2	make	make	VERB
fsr-3246	92	3	profit	profit	NOUN
fsr-3246	92	4	by	by	ADP
fsr-3246	92	5	earning	earn	VERB
fsr-3246	92	6	more	more	ADJ
fsr-3246	92	7	on	on	ADP
fsr-3246	92	8	their	their	PRON
fsr-3246	92	9	investments	investment	NOUN
fsr-3246	92	10	than	than	SCONJ
fsr-3246	92	11	they	they	PRON
fsr-3246	92	12	have	have	VERB
fsr-3246	92	13	to	to	PART
fsr-3246	92	14	pay	pay	VERB
fsr-3246	92	15	their	their	PRON
fsr-3246	92	16	customers	customer	NOUN
fsr-3246	92	17	.	.	PUNCT
fsr-3246	93	1	this	this	DET
fsr-3246	93	2	difference	difference	NOUN
fsr-3246	93	3	is	be	AUX
fsr-3246	93	4	called	call	VERB
fsr-3246	93	5	an	an	DET
fsr-3246	93	6	“	"	PUNCT
fsr-3246	93	7	investment	investment	NOUN
fsr-3246	93	8	spread	spread	NOUN
fsr-3246	93	9	.	.	PUNCT
fsr-3246	93	10	”	"	PUNCT
fsr-3246	94	1	as	as	SCONJ
fsr-3246	94	2	discussed	discuss	VERB
fsr-3246	94	3	above	above	ADV
fsr-3246	94	4	,	,	PUNCT
fsr-3246	94	5	the	the	DET
fsr-3246	94	6	companies	company	NOUN
fsr-3246	94	7	manage	manage	VERB
fsr-3246	94	8	this	this	DET
fsr-3246	94	9	investment	investment	NOUN
fsr-3246	94	10	spread	spread	VERB
fsr-3246	94	11	by	by	ADP
fsr-3246	94	12	changing	change	VERB
fsr-3246	94	13	the	the	DET
fsr-3246	94	14	caps	cap	NOUN
fsr-3246	94	15	,	,	PUNCT
fsr-3246	94	16	participation	participation	NOUN
fsr-3246	94	17	rates	rate	NOUN
fsr-3246	94	18	,	,	PUNCT
fsr-3246	94	19	and	and	CCONJ
fsr-3246	94	20	margin	margin	NOUN
fsr-3246	94	21	used	use	VERB
fsr-3246	94	22	to	to	PART
fsr-3246	94	23	calculate	calculate	VERB
fsr-3246	94	24	the	the	DET
fsr-3246	94	25	customers	customer	NOUN
fsr-3246	94	26	’	’	PART
fsr-3246	94	27	interest	interest	NOUN
fsr-3246	94	28	credit	credit	NOUN
fsr-3246	94	29	.	.	PUNCT
fsr-3246	95	1	if	if	SCONJ
fsr-3246	95	2	yields	yield	NOUN
fsr-3246	95	3	on	on	ADP
fsr-3246	95	4	the	the	DET
fsr-3246	95	5	underlying	underlie	VERB
fsr-3246	95	6	investment	investment	NOUN
fsr-3246	95	7	portfolio	portfolio	NOUN
fsr-3246	95	8	fall	fall	VERB
fsr-3246	95	9	,	,	PUNCT
fsr-3246	95	10	or	or	CCONJ
fsr-3246	95	11	if	if	SCONJ
fsr-3246	95	12	call	call	VERB
fsr-3246	95	13	option	option	NOUN
fsr-3246	95	14	premiums	premium	NOUN
fsr-3246	95	15	increase	increase	VERB
fsr-3246	95	16	due	due	ADP
fsr-3246	95	17	to	to	ADP
fsr-3246	95	18	an	an	DET
fsr-3246	95	19	increase	increase	NOUN
fsr-3246	95	20	in	in	ADP
fsr-3246	95	21	index	index	NOUN
fsr-3246	95	22	volatility	volatility	NOUN
fsr-3246	95	23	,	,	PUNCT
fsr-3246	95	24	the	the	DET
fsr-3246	95	25	insurance	insurance	NOUN
fsr-3246	95	26	company	company	NOUN
fsr-3246	95	27	will	will	AUX
fsr-3246	95	28	change	change	VERB
fsr-3246	95	29	the	the	DET
fsr-3246	95	30	limits	limit	NOUN
fsr-3246	95	31	to	to	PART
fsr-3246	95	32	reduce	reduce	VERB
fsr-3246	95	33	the	the	DET
fsr-3246	95	34	amounts	amount	NOUN
fsr-3246	95	35	credited	credit	VERB
fsr-3246	95	36	to	to	ADP
fsr-3246	95	37	the	the	DET
fsr-3246	95	38	customers	customer	NOUN
fsr-3246	95	39	’	’	PART
fsr-3246	95	40	account	account	NOUN
fsr-3246	95	41	values	value	NOUN
fsr-3246	95	42	and	and	CCONJ
fsr-3246	95	43	maintain	maintain	VERB
fsr-3246	95	44	its	its	PRON
fsr-3246	95	45	spread	spread	NOUN
fsr-3246	95	46	between	between	ADP
fsr-3246	95	47	its	its	PRON
fsr-3246	95	48	“	"	PUNCT
fsr-3246	95	49	cost	cost	NOUN
fsr-3246	95	50	of	of	ADP
fsr-3246	95	51	money”—what	money”—what	PRON
fsr-3246	95	52	it	it	PRON
fsr-3246	95	53	credits	credit	VERB
fsr-3246	95	54	to	to	ADP
fsr-3246	95	55	the	the	DET
fsr-3246	95	56	customers	customer	NOUN
fsr-3246	95	57	—	—	PUNCT
fsr-3246	95	58	and	and	CCONJ
fsr-3246	95	59	what	what	PRON
fsr-3246	95	60	it	it	PRON
fsr-3246	95	61	earns	earn	VERB
fsr-3246	95	62	on	on	ADP
fsr-3246	95	63	their	their	PRON
fsr-3246	95	64	deposited	deposit	VERB
fsr-3246	95	65	funds.6	funds.6	PROPN
fsr-3246	95	66	because	because	SCONJ
fsr-3246	95	67	of	of	ADP
fsr-3246	95	68	a	a	DET
fsr-3246	95	69	change	change	NOUN
fsr-3246	95	70	in	in	ADP
fsr-3246	95	71	accounting	accounting	NOUN
fsr-3246	95	72	rules	rule	NOUN
fsr-3246	95	73	,	,	PUNCT
fsr-3246	95	74	companies	company	NOUN
fsr-3246	95	75	like	like	ADP
fsr-3246	95	76	american	american	PROPN
fsr-3246	95	77	equity	equity	PROPN
fsr-3246	95	78	now	now	ADV
fsr-3246	95	79	include	include	VERB
fsr-3246	95	80	the	the	DET
fsr-3246	95	81	effect	effect	NOUN
fsr-3246	95	82	of	of	ADP
fsr-3246	95	83	derivatives	derivative	NOUN
fsr-3246	95	84	’	'	PUNCT
fsr-3246	95	85	gains	gain	NOUN
fsr-3246	95	86	and	and	CCONJ
fsr-3246	95	87	losses	loss	NOUN
fsr-3246	95	88	with	with	ADP
fsr-3246	95	89	the	the	DET
fsr-3246	95	90	underlying	underlie	VERB
fsr-3246	95	91	costs	cost	NOUN
fsr-3246	95	92	being	be	AUX
fsr-3246	95	93	hedged	hedge	VERB
fsr-3246	95	94	.	.	PUNCT
fsr-3246	96	1	consequently	consequently	ADV
fsr-3246	96	2	,	,	PUNCT
fsr-3246	96	3	american	american	PROPN
fsr-3246	96	4	equity	equity	NOUN
fsr-3246	96	5	since	since	SCONJ
fsr-3246	96	6	2001	2001	NUM
fsr-3246	96	7	explicitly	explicitly	ADV
fsr-3246	96	8	discloses	disclose	VERB
fsr-3246	96	9	their	their	PRON
fsr-3246	96	10	“	"	PUNCT
fsr-3246	96	11	yield	yield	NOUN
fsr-3246	96	12	earned	earn	VERB
fsr-3246	96	13	,	,	PUNCT
fsr-3246	96	14	”	"	PUNCT
fsr-3246	96	15	their	their	PRON
fsr-3246	96	16	“	"	PUNCT
fsr-3246	96	17	cost	cost	NOUN
fsr-3246	96	18	of	of	ADP
fsr-3246	96	19	money	money	NOUN
fsr-3246	96	20	,	,	PUNCT
fsr-3246	96	21	”	"	PUNCT
fsr-3246	96	22	and	and	CCONJ
fsr-3246	96	23	their	their	PRON
fsr-3246	96	24	“	"	PUNCT
fsr-3246	96	25	investment	investment	NOUN
fsr-3246	96	26	spread	spread	NOUN
fsr-3246	96	27	.	.	PUNCT
fsr-3246	96	28	”	"	PUNCT
fsr-3246	97	1	the	the	DET
fsr-3246	97	2	“	"	PUNCT
fsr-3246	97	3	cost	cost	NOUN
fsr-3246	97	4	of	of	ADP
fsr-3246	97	5	money	money	NOUN
fsr-3246	97	6	”	"	PUNCT
fsr-3246	97	7	represents	represent	VERB
fsr-3246	97	8	what	what	PRON
fsr-3246	97	9	they	they	PRON
fsr-3246	97	10	have	have	AUX
fsr-3246	97	11	actually	actually	ADV
fsr-3246	97	12	credited	credit	VERB
fsr-3246	97	13	to	to	ADP
fsr-3246	97	14	their	their	PRON
fsr-3246	97	15	customers	customer	NOUN
fsr-3246	97	16	.	.	PUNCT
fsr-3246	98	1	there	there	PRON
fsr-3246	98	2	are	be	VERB
fsr-3246	98	3	a	a	DET
fsr-3246	98	4	couple	couple	NOUN
fsr-3246	98	5	of	of	ADP
fsr-3246	98	6	significant	significant	ADJ
fsr-3246	98	7	points	point	NOUN
fsr-3246	98	8	to	to	PART
fsr-3246	98	9	note	note	VERB
fsr-3246	98	10	.	.	PUNCT
fsr-3246	99	1	first	first	ADV
fsr-3246	99	2	,	,	PUNCT
fsr-3246	99	3	these	these	DET
fsr-3246	99	4	returns	return	NOUN
fsr-3246	99	5	are	be	AUX
fsr-3246	99	6	lower	low	ADJ
fsr-3246	99	7	than	than	ADP
fsr-3246	99	8	those	those	PRON
fsr-3246	99	9	reported	report	VERB
fsr-3246	99	10	in	in	ADP
fsr-3246	99	11	the	the	DET
fsr-3246	99	12	vanderpal	vanderpal	PROPN
fsr-3246	99	13	et	et	PROPN
fsr-3246	99	14	al	al	PROPN
fsr-3246	99	15	.	.	PROPN
fsr-3246	100	1	(	(	PUNCT
fsr-3246	100	2	2011	2011	NUM
fsr-3246	100	3	)	)	PUNCT
fsr-3246	100	4	studies	study	NOUN
fsr-3246	100	5	discussed	discuss	VERB
fsr-3246	100	6	below	below	ADV
fsr-3246	100	7	because	because	SCONJ
fsr-3246	100	8	vanderpal	vanderpal	PROPN
fsr-3246	100	9	’s	’s	PART
fsr-3246	100	10	returns	return	NOUN
fsr-3246	100	11	are	be	AUX
fsr-3246	100	12	based	base	VERB
fsr-3246	100	13	on	on	ADP
fsr-3246	100	14	contract	contract	NOUN
fsr-3246	100	15	values	value	NOUN
fsr-3246	100	16	credited	credit	VERB
fsr-3246	100	17	over	over	ADP
fsr-3246	100	18	successive	successive	ADJ
fsr-3246	100	19	five	five	NUM
fsr-3246	100	20	-	-	PUNCT
fsr-3246	100	21	year	year	NOUN
fsr-3246	100	22	periods	period	NOUN
fsr-3246	100	23	,	,	PUNCT
fsr-3246	100	24	whereas	whereas	SCONJ
fsr-3246	100	25	the	the	DET
fsr-3246	100	26	returns	return	NOUN
fsr-3246	100	27	actually	actually	ADV
fsr-3246	100	28	credited	credit	VERB
fsr-3246	100	29	to	to	ADP
fsr-3246	100	30	customers	customer	NOUN
fsr-3246	100	31	in	in	ADP
fsr-3246	100	32	the	the	DET
fsr-3246	100	33	aggregate	aggregate	ADJ
fsr-3246	100	34	reflect	reflect	NOUN
fsr-3246	100	35	reductions	reduction	NOUN
fsr-3246	100	36	because	because	SCONJ
fsr-3246	100	37	of	of	ADP
fsr-3246	100	38	surrender	surrender	NOUN
fsr-3246	100	39	charges	charge	NOUN
fsr-3246	100	40	or	or	CCONJ
fsr-3246	100	41	not	not	PART
fsr-3246	100	42	receiving	receive	VERB
fsr-3246	100	43	a	a	DET
fsr-3246	100	44	full	full	ADJ
fsr-3246	100	45	period	period	NOUN
fsr-3246	100	46	interest	interest	NOUN
fsr-3246	100	47	credit	credit	NOUN
fsr-3246	100	48	.	.	PUNCT
fsr-3246	101	1	second	second	ADJ
fsr-3246	101	2	,	,	PUNCT
fsr-3246	101	3	it	it	PRON
fsr-3246	101	4	is	be	AUX
fsr-3246	101	5	important	important	ADJ
fsr-3246	101	6	to	to	PART
fsr-3246	101	7	note	note	VERB
fsr-3246	101	8	that	that	SCONJ
fsr-3246	101	9	customer	customer	NOUN
fsr-3246	101	10	returns	return	NOUN
fsr-3246	101	11	depend	depend	VERB
fsr-3246	101	12	more	more	ADJ
fsr-3246	101	13	on	on	ADP
fsr-3246	101	14	bond	bond	NOUN
fsr-3246	101	15	yields	yield	NOUN
fsr-3246	101	16	than	than	ADP
fsr-3246	101	17	on	on	ADP
fsr-3246	101	18	underlying	underlie	VERB
fsr-3246	101	19	equity	equity	NOUN
fsr-3246	101	20	index	index	NOUN
fsr-3246	101	21	values	value	NOUN
fsr-3246	101	22	.	.	PUNCT
fsr-3246	102	1	as	as	SCONJ
fsr-3246	102	2	indicated	indicate	VERB
fsr-3246	102	3	in	in	ADP
fsr-3246	102	4	table	table	NOUN
fsr-3246	102	5	1	1	NUM
fsr-3246	102	6	,	,	PUNCT
fsr-3246	102	7	“	"	PUNCT
fsr-3246	102	8	cost	cost	NOUN
fsr-3246	102	9	of	of	ADP
fsr-3246	102	10	money	money	NOUN
fsr-3246	102	11	”	"	PUNCT
fsr-3246	102	12	is	be	AUX
fsr-3246	102	13	below	below	ADP
fsr-3246	102	14	3.5	3.5	NUM
fsr-3246	102	15	%	%	NOUN
fsr-3246	102	16	in	in	ADP
fsr-3246	102	17	both	both	DET
fsr-3246	102	18	2010	2010	NUM
fsr-3246	102	19	and	and	CCONJ
fsr-3246	102	20	2012	2012	NUM
fsr-3246	102	21	despite	despite	SCONJ
fsr-3246	102	22	s&p	s&p	PROPN
fsr-3246	102	23	500	500	NUM
fsr-3246	102	24	returns	return	NOUN
fsr-3246	102	25	in	in	ADP
fsr-3246	102	26	excess	excess	NOUN
fsr-3246	102	27	of	of	ADP
fsr-3246	102	28	10	10	NUM
fsr-3246	102	29	%	%	NOUN
fsr-3246	102	30	both	both	DET
fsr-3246	102	31	years	year	NOUN
fsr-3246	102	32	.	.	PUNCT
fsr-3246	103	1	table	table	NOUN
fsr-3246	103	2	1	1	NUM
fsr-3246	103	3	above	above	ADV
fsr-3246	103	4	indicates	indicate	VERB
fsr-3246	103	5	that	that	SCONJ
fsr-3246	103	6	the	the	DET
fsr-3246	103	7	population	population	NOUN
fsr-3246	103	8	of	of	ADP
fsr-3246	103	9	american	american	PROPN
fsr-3246	103	10	equity	equity	PROPN
fsr-3246	103	11	’s	’s	PART
fsr-3246	103	12	customers	customer	NOUN
fsr-3246	103	13	could	could	AUX
fsr-3246	103	14	have	have	AUX
fsr-3246	103	15	performed	perform	VERB
fsr-3246	103	16	about	about	ADP
fsr-3246	103	17	as	as	ADV
fsr-3246	103	18	well	well	ADV
fsr-3246	103	19	over	over	ADP
fsr-3246	103	20	the	the	DET
fsr-3246	103	21	last	last	ADJ
fsr-3246	103	22	11	11	NUM
fsr-3246	103	23	years	year	NOUN
fsr-3246	103	24	by	by	ADP
fsr-3246	103	25	simply	simply	ADV
fsr-3246	103	26	purchasing	purchase	VERB
fsr-3246	103	27	10	10	NUM
fsr-3246	103	28	-	-	PUNCT
fsr-3246	103	29	year	year	NOUN
fsr-3246	103	30	treasury	treasury	NOUN
fsr-3246	103	31	securities	security	NOUN
fsr-3246	103	32	.	.	PUNCT
fsr-3246	104	1	it	it	PRON
fsr-3246	104	2	is	be	AUX
fsr-3246	104	3	important	important	ADJ
fsr-3246	104	4	to	to	PART
fsr-3246	104	5	note	note	VERB
fsr-3246	104	6	that	that	SCONJ
fsr-3246	104	7	the	the	DET
fsr-3246	104	8	credited	credit	VERB
fsr-3246	104	9	rates	rate	NOUN
fsr-3246	104	10	in	in	ADP
fsr-3246	104	11	table	table	NOUN
fsr-3246	104	12	1	1	NUM
fsr-3246	104	13	are	be	AUX
fsr-3246	104	14	for	for	ADP
fsr-3246	104	15	the	the	DET
fsr-3246	104	16	customers	customer	NOUN
fsr-3246	104	17	as	as	ADP
fsr-3246	104	18	a	a	DET
fsr-3246	104	19	group	group	NOUN
fsr-3246	104	20	and	and	CCONJ
fsr-3246	104	21	do	do	AUX
fsr-3246	104	22	not	not	PART
fsr-3246	104	23	reflect	reflect	VERB
fsr-3246	104	24	the	the	DET
fsr-3246	104	25	expected	expect	VERB
fsr-3246	104	26	or	or	CCONJ
fsr-3246	104	27	actual	actual	ADJ
fsr-3246	104	28	rates	rate	NOUN
fsr-3246	104	29	for	for	ADP
fsr-3246	104	30	a	a	DET
fsr-3246	104	31	specific	specific	ADJ
fsr-3246	104	32	customer	customer	NOUN
fsr-3246	104	33	.	.	PUNCT
fsr-3246	105	1	rates	rate	NOUN
fsr-3246	105	2	for	for	ADP
fsr-3246	105	3	a	a	DET
fsr-3246	105	4	specific	specific	ADJ
fsr-3246	105	5	customer	customer	NOUN
fsr-3246	105	6	will	will	AUX
fsr-3246	105	7	depend	depend	VERB
fsr-3246	105	8	on	on	ADP
fsr-3246	105	9	that	that	DET
fsr-3246	105	10	customer	customer	NOUN
fsr-3246	105	11	’s	’s	PART
fsr-3246	105	12	contract	contract	NOUN
fsr-3246	105	13	specifications	specification	NOUN
fsr-3246	105	14	and	and	CCONJ
fsr-3246	105	15	on	on	ADP
fsr-3246	105	16	whether	whether	SCONJ
fsr-3246	105	17	the	the	DET
fsr-3246	105	18	customer	customer	NOUN
fsr-3246	105	19	incurs	incur	VERB
fsr-3246	105	20	any	any	DET
fsr-3246	105	21	surrender	surrender	NOUN
fsr-3246	105	22	charges	charge	NOUN
fsr-3246	105	23	.	.	PUNCT
fsr-3246	106	1	table	table	NOUN
fsr-3246	106	2	1	1	NUM
fsr-3246	106	3	spreads	spread	NOUN
fsr-3246	106	4	of	of	ADP
fsr-3246	106	5	american	american	ADJ
fsr-3246	106	6	equity	equity	NOUN
fsr-3246	106	7	annuities	annuity	NOUN
fsr-3246	106	8	2012	2012	NUM
fsr-3246	106	9	2011	2011	NUM
fsr-3246	106	10	2010	2010	NUM
fsr-3246	106	11	2009	2009	NUM
fsr-3246	106	12	2008	2008	NUM
fsr-3246	106	13	2007	2007	NUM
fsr-3246	106	14	2006	2006	NUM
fsr-3246	106	15	2005	2005	NUM
fsr-3246	106	16	2004	2004	NUM
fsr-3246	106	17	2003	2003	NUM
fsr-3246	106	18	2002	2002	NUM
fsr-3246	106	19	yield	yield	NOUN
fsr-3246	106	20	earned	earn	VERB
fsr-3246	106	21	5.28	5.28	NUM
fsr-3246	106	22	%	%	NOUN
fsr-3246	106	23	5.8	5.8	NUM
fsr-3246	106	24	%	%	NOUN
fsr-3246	106	25	6.06	6.06	NUM
fsr-3246	106	26	%	%	NOUN
fsr-3246	106	27	6.30	6.30	NUM
fsr-3246	106	28	%	%	NOUN
fsr-3246	106	29	6.20	6.20	NUM
fsr-3246	106	30	%	%	NOUN
fsr-3246	106	31	6.11	6.11	NUM
fsr-3246	106	32	%	%	NOUN
fsr-3246	106	33	6.14	6.14	NUM
fsr-3246	106	34	%	%	NOUN
fsr-3246	106	35	6.18	6.18	NUM
fsr-3246	106	36	%	%	NOUN
fsr-3246	106	37	6.28	6.28	NUM
fsr-3246	106	38	%	%	NOUN
fsr-3246	106	39	6.43	6.43	NUM
fsr-3246	106	40	%	%	NOUN
fsr-3246	106	41	6.91	6.91	NUM
fsr-3246	106	42	%	%	NOUN
fsr-3246	106	43	cost	cost	NOUN
fsr-3246	106	44	of	of	ADP
fsr-3246	106	45	money	money	NOUN
fsr-3246	106	46	2.58	2.58	NUM
fsr-3246	106	47	%	%	NOUN
fsr-3246	106	48	2.77	2.77	NUM
fsr-3246	106	49	%	%	NOUN
fsr-3246	106	50	2.91	2.91	NUM
fsr-3246	106	51	%	%	NOUN
fsr-3246	106	52	3.26	3.26	NUM
fsr-3246	106	53	%	%	NOUN
fsr-3246	106	54	3.43	3.43	NUM
fsr-3246	106	55	%	%	NOUN
fsr-3246	106	56	3.51	3.51	NUM
fsr-3246	106	57	%	%	NOUN
fsr-3246	106	58	3.28	3.28	NUM
fsr-3246	106	59	%	%	NOUN
fsr-3246	106	60	3.38	3.38	NUM
fsr-3246	106	61	%	%	NOUN
fsr-3246	106	62	3.37	3.37	NUM
fsr-3246	106	63	%	%	NOUN
fsr-3246	106	64	3.46	3.46	NUM
fsr-3246	106	65	%	%	NOUN
fsr-3246	106	66	4.19	4.19	NUM
fsr-3246	106	67	%	%	NOUN
fsr-3246	106	68	investment	investment	NOUN
fsr-3246	106	69	spread	spread	VERB
fsr-3246	106	70	2.70	2.70	NUM
fsr-3246	106	71	%	%	NOUN
fsr-3246	106	72	3.03	3.03	NUM
fsr-3246	106	73	%	%	NOUN
fsr-3246	106	74	3.15	3.15	NUM
fsr-3246	106	75	%	%	NOUN
fsr-3246	106	76	3.04	3.04	NUM
fsr-3246	106	77	%	%	NOUN
fsr-3246	106	78	2.77	2.77	NUM
fsr-3246	106	79	%	%	NOUN
fsr-3246	106	80	2.60	2.60	NUM
fsr-3246	106	81	%	%	NOUN
fsr-3246	106	82	2.86	2.86	NUM
fsr-3246	106	83	%	%	NOUN
fsr-3246	106	84	2.80	2.80	NUM
fsr-3246	106	85	%	%	NOUN
fsr-3246	106	86	2.91	2.91	NUM
fsr-3246	106	87	%	%	NOUN
fsr-3246	106	88	2.97	2.97	NUM
fsr-3246	106	89	%	%	NOUN
fsr-3246	106	90	2.72	2.72	NUM
fsr-3246	106	91	%	%	NOUN
fsr-3246	106	92	10	10	NUM
fsr-3246	106	93	-	-	PUNCT
fsr-3246	106	94	yr	yr	NOUN
fsr-3246	106	95	treasury	treasury	PROPN
fsr-3246	106	96	yield	yield	NOUN
fsr-3246	106	97	1.97	1.97	NUM
fsr-3246	106	98	%	%	NOUN
fsr-3246	106	99	3.36	3.36	NUM
fsr-3246	106	100	%	%	NOUN
fsr-3246	106	101	3.85	3.85	NUM
fsr-3246	106	102	%	%	NOUN
fsr-3246	106	103	2.46	2.46	NUM
fsr-3246	106	104	%	%	NOUN
fsr-3246	106	105	3.91	3.91	NUM
fsr-3246	106	106	%	%	NOUN
fsr-3246	106	107	4.68	4.68	NUM
fsr-3246	106	108	%	%	NOUN
fsr-3246	106	109	4.37	4.37	NUM
fsr-3246	106	110	%	%	NOUN
fsr-3246	106	111	4.23	4.23	NUM
fsr-3246	106	112	%	%	NOUN
fsr-3246	106	113	4.38	4.38	NUM
fsr-3246	106	114	%	%	NOUN
fsr-3246	106	115	4.07	4.07	NUM
fsr-3246	106	116	%	%	NOUN
fsr-3246	106	117	5.2	5.2	NUM
fsr-3246	106	118	%	%	NOUN
fsr-3246	106	119	source	source	NOUN
fsr-3246	106	120	:	:	PUNCT
fsr-3246	106	121	american	american	PROPN
fsr-3246	106	122	equity	equity	PROPN
fsr-3246	106	123	10	10	NUM
fsr-3246	106	124	-	-	SYM
fsr-3246	106	125	k	k	NOUN
fsr-3246	106	126	’s	’s	NOUN
fsr-3246	106	127	;	;	PUNCT
fsr-3246	106	128	u.s	u.s	PROPN
fsr-3246	106	129	.	.	PROPN
fsr-3246	106	130	department	department	PROPN
fsr-3246	106	131	of	of	ADP
fsr-3246	106	132	treasury	treasury	PROPN
fsr-3246	106	133	,	,	PUNCT
fsr-3246	106	134	beginning	begin	VERB
fsr-3246	106	135	of	of	ADP
fsr-3246	106	136	year	year	NOUN
fsr-3246	106	137	10	10	NUM
fsr-3246	106	138	-	-	PUNCT
fsr-3246	106	139	year	year	NOUN
fsr-3246	106	140	yield	yield	NOUN
fsr-3246	106	141	.	.	PUNCT
fsr-3246	107	1	415a	415a	NOUN
fsr-3246	107	2	.	.	PUNCT
fsr-3246	108	1	terry	terry	PROPN
fsr-3246	108	2	,	,	PUNCT
fsr-3246	108	3	e.	e.	PROPN
fsr-3246	108	4	elder	elder	PROPN
fsr-3246	108	5	/	/	SYM
fsr-3246	108	6	financial	financial	ADJ
fsr-3246	108	7	services	service	NOUN
fsr-3246	108	8	review	review	VERB
fsr-3246	108	9	24	24	NUM
fsr-3246	108	10	(	(	PUNCT
fsr-3246	108	11	2015	2015	NUM
fsr-3246	108	12	)	)	PUNCT
fsr-3246	109	1	411–428	411–428	NUM
fsr-3246	109	2	reichenstein	reichenstein	NOUN
fsr-3246	109	3	(	(	PUNCT
fsr-3246	109	4	2009	2009	NUM
fsr-3246	109	5	)	)	PUNCT
fsr-3246	109	6	says	say	VERB
fsr-3246	109	7	“	"	PUNCT
fsr-3246	109	8	since	since	ADV
fsr-3246	109	9	,	,	PUNCT
fsr-3246	109	10	by	by	ADP
fsr-3246	109	11	design	design	NOUN
fsr-3246	109	12	,	,	PUNCT
fsr-3246	109	13	indexed	index	VERB
fsr-3246	109	14	annuities	annuity	NOUN
fsr-3246	109	15	can	can	AUX
fsr-3246	109	16	not	not	PART
fsr-3246	109	17	add	add	VERB
fsr-3246	109	18	value	value	NOUN
fsr-3246	109	19	through	through	ADP
fsr-3246	109	20	security	security	NOUN
fsr-3246	109	21	selection	selection	NOUN
fsr-3246	109	22	,	,	PUNCT
fsr-3246	109	23	all	all	DET
fsr-3246	109	24	eias	eia	NOUN
fsr-3246	109	25	must	must	AUX
fsr-3246	109	26	produce	produce	VERB
fsr-3246	109	27	risk	risk	NOUN
fsr-3246	109	28	-	-	PUNCT
fsr-3246	109	29	adjusted	adjust	VERB
fsr-3246	109	30	returns	return	NOUN
fsr-3246	109	31	that	that	PRON
fsr-3246	109	32	trail	trail	VERB
fsr-3246	109	33	those	those	PRON
fsr-3246	109	34	offered	offer	VERB
fsr-3246	109	35	by	by	ADP
fsr-3246	109	36	readily	readily	ADV
fsr-3246	109	37	available	available	ADJ
fsr-3246	109	38	marketable	marketable	ADJ
fsr-3246	109	39	securities	security	NOUN
fsr-3246	109	40	by	by	ADP
fsr-3246	109	41	their	their	PRON
fsr-3246	109	42	spread	spread	NOUN
fsr-3246	109	43	,	,	PUNCT
fsr-3246	109	44	that	that	PRON
fsr-3246	109	45	is	be	AUX
fsr-3246	109	46	by	by	ADP
fsr-3246	109	47	their	their	PRON
fsr-3246	109	48	expenses	expense	NOUN
fsr-3246	109	49	including	include	VERB
fsr-3246	109	50	transaction	transaction	NOUN
fsr-3246	109	51	costs	cost	NOUN
fsr-3246	109	52	…	…	PUNCT
fsr-3246	109	53	we	we	PRON
fsr-3246	109	54	do	do	AUX
fsr-3246	109	55	not	not	PART
fsr-3246	109	56	need	need	VERB
fsr-3246	109	57	empirical	empirical	ADJ
fsr-3246	109	58	tests	test	NOUN
fsr-3246	109	59	to	to	ADP
fsr-3246	109	60	state	state	NOUN
fsr-3246	109	61	definitively	definitively	ADV
fsr-3246	109	62	that	that	SCONJ
fsr-3246	109	63	indexed	indexed	ADJ
fsr-3246	109	64	annuities	annuity	NOUN
fsr-3246	109	65	do	do	AUX
fsr-3246	109	66	not	not	PART
fsr-3246	109	67	offer	offer	VERB
fsr-3246	109	68	competitive	competitive	ADJ
fsr-3246	109	69	risk	risk	NOUN
fsr-3246	109	70	-	-	PUNCT
fsr-3246	109	71	adjusted	adjust	VERB
fsr-3246	109	72	returns	return	NOUN
fsr-3246	109	73	.	.	PUNCT
fsr-3246	110	1	their	their	PRON
fsr-3246	110	2	structure	structure	NOUN
fsr-3246	110	3	ensures	ensure	VERB
fsr-3246	110	4	this	this	PRON
fsr-3246	110	5	is	be	AUX
fsr-3246	110	6	the	the	DET
fsr-3246	110	7	outcome	outcome	NOUN
fsr-3246	110	8	.	.	PUNCT
fsr-3246	110	9	”	"	PUNCT
fsr-3246	111	1	his	his	PRON
fsr-3246	111	2	essential	essential	ADJ
fsr-3246	111	3	point	point	NOUN
fsr-3246	111	4	is	be	AUX
fsr-3246	111	5	that	that	SCONJ
fsr-3246	111	6	indexed	indexed	ADJ
fsr-3246	111	7	annuities	annuity	NOUN
fsr-3246	111	8	are	be	AUX
fsr-3246	111	9	simply	simply	ADV
fsr-3246	111	10	repackaging	repackage	VERB
fsr-3246	111	11	returns	return	NOUN
fsr-3246	111	12	that	that	PRON
fsr-3246	111	13	are	be	AUX
fsr-3246	111	14	already	already	ADV
fsr-3246	111	15	available	available	ADJ
fsr-3246	111	16	to	to	ADP
fsr-3246	111	17	investors	investor	NOUN
fsr-3246	111	18	in	in	ADP
fsr-3246	111	19	the	the	DET
fsr-3246	111	20	market	market	NOUN
fsr-3246	111	21	place	place	NOUN
fsr-3246	111	22	without	without	ADP
fsr-3246	111	23	adding	add	VERB
fsr-3246	111	24	any	any	DET
fsr-3246	111	25	potential	potential	ADJ
fsr-3246	111	26	security	security	NOUN
fsr-3246	111	27	selection	selection	NOUN
fsr-3246	111	28	or	or	CCONJ
fsr-3246	111	29	market	market	NOUN
fsr-3246	111	30	timing	timing	NOUN
fsr-3246	111	31	value	value	NOUN
fsr-3246	111	32	.	.	PUNCT
fsr-3246	112	1	the	the	DET
fsr-3246	112	2	cost	cost	NOUN
fsr-3246	112	3	of	of	ADP
fsr-3246	112	4	this	this	DET
fsr-3246	112	5	repackaging	repackaging	NOUN
fsr-3246	112	6	is	be	AUX
fsr-3246	112	7	the	the	DET
fsr-3246	112	8	“	"	PUNCT
fsr-3246	112	9	spread	spread	NOUN
fsr-3246	112	10	.	.	PUNCT
fsr-3246	112	11	”	"	PUNCT
fsr-3246	113	1	in	in	ADP
fsr-3246	113	2	summary	summary	NOUN
fsr-3246	113	3	,	,	PUNCT
fsr-3246	113	4	the	the	DET
fsr-3246	113	5	simple	simple	ADJ
fsr-3246	113	6	economics	economic	NOUN
fsr-3246	113	7	of	of	ADP
fsr-3246	113	8	eias	eias	PROPN
fsr-3246	113	9	is	be	AUX
fsr-3246	113	10	that	that	SCONJ
fsr-3246	113	11	investors	investor	NOUN
fsr-3246	113	12	are	be	AUX
fsr-3246	113	13	paying	pay	VERB
fsr-3246	113	14	2–3	2–3	NUM
fsr-3246	113	15	%	%	NOUN
fsr-3246	113	16	annually	annually	ADV
fsr-3246	113	17	in	in	ADP
fsr-3246	113	18	investor	investor	NOUN
fsr-3246	113	19	spreads	spread	VERB
fsr-3246	113	20	to	to	PART
fsr-3246	113	21	receive	receive	VERB
fsr-3246	113	22	returns	return	NOUN
fsr-3246	113	23	similar	similar	ADJ
fsr-3246	113	24	to	to	ADP
fsr-3246	113	25	those	those	PRON
fsr-3246	113	26	already	already	ADV
fsr-3246	113	27	available	available	ADJ
fsr-3246	113	28	in	in	ADP
fsr-3246	113	29	the	the	DET
fsr-3246	113	30	market	market	NOUN
fsr-3246	113	31	,	,	PUNCT
fsr-3246	113	32	trivial	trivial	ADJ
fsr-3246	113	33	insurance	insurance	NOUN
fsr-3246	113	34	benefits	benefit	NOUN
fsr-3246	113	35	,	,	PUNCT
fsr-3246	113	36	and	and	CCONJ
fsr-3246	113	37	to	to	PART
fsr-3246	113	38	receive	receive	VERB
fsr-3246	113	39	a	a	DET
fsr-3246	113	40	no	no	DET
fsr-3246	113	41	loss	loss	NOUN
fsr-3246	113	42	guarantee	guarantee	NOUN
fsr-3246	113	43	.	.	PUNCT
fsr-3246	114	1	this	this	DET
fsr-3246	114	2	spread	spread	NOUN
fsr-3246	114	3	depends	depend	VERB
fsr-3246	114	4	on	on	ADP
fsr-3246	114	5	yields	yield	NOUN
fsr-3246	114	6	on	on	ADP
fsr-3246	114	7	corporate	corporate	ADJ
fsr-3246	114	8	and	and	CCONJ
fsr-3246	114	9	government	government	NOUN
fsr-3246	114	10	bonds	bond	NOUN
fsr-3246	114	11	,	,	PUNCT
fsr-3246	114	12	policy	policy	NOUN
fsr-3246	114	13	acquisition	acquisition	NOUN
fsr-3246	114	14	costs	cost	NOUN
fsr-3246	114	15	(	(	PUNCT
fsr-3246	114	16	that	that	PRON
fsr-3246	114	17	include	include	VERB
fsr-3246	114	18	sales	sale	NOUN
fsr-3246	114	19	commissions	commission	NOUN
fsr-3246	114	20	paid	pay	VERB
fsr-3246	114	21	and	and	CCONJ
fsr-3246	114	22	administrative	administrative	ADJ
fsr-3246	114	23	costs	cost	NOUN
fsr-3246	114	24	)	)	PUNCT
fsr-3246	114	25	,	,	PUNCT
fsr-3246	114	26	and	and	CCONJ
fsr-3246	114	27	option	option	NOUN
fsr-3246	114	28	costs	cost	NOUN
fsr-3246	114	29	and	and	CCONJ
fsr-3246	114	30	is	be	AUX
fsr-3246	114	31	actively	actively	ADV
fsr-3246	114	32	managed	manage	VERB
fsr-3246	114	33	by	by	ADP
fsr-3246	114	34	the	the	DET
fsr-3246	114	35	selling	selling	NOUN
fsr-3246	114	36	companies	company	NOUN
fsr-3246	114	37	by	by	ADP
fsr-3246	114	38	changing	change	VERB
fsr-3246	114	39	caps	cap	NOUN
fsr-3246	114	40	and	and	CCONJ
fsr-3246	114	41	participation	participation	NOUN
fsr-3246	114	42	rate	rate	NOUN
fsr-3246	114	43	limits	limit	NOUN
fsr-3246	114	44	in	in	ADP
fsr-3246	114	45	the	the	DET
fsr-3246	114	46	contracts	contract	NOUN
fsr-3246	114	47	after	after	ADP
fsr-3246	114	48	the	the	DET
fsr-3246	114	49	first	first	ADJ
fsr-3246	114	50	year	year	NOUN
fsr-3246	114	51	.	.	PUNCT
fsr-3246	115	1	in	in	ADP
fsr-3246	115	2	higher	high	ADJ
fsr-3246	115	3	yield	yield	NOUN
fsr-3246	115	4	environments	environment	NOUN
fsr-3246	115	5	,	,	PUNCT
fsr-3246	115	6	caps	cap	NOUN
fsr-3246	115	7	and	and	CCONJ
fsr-3246	115	8	participation	participation	NOUN
fsr-3246	115	9	rates	rate	NOUN
fsr-3246	115	10	will	will	AUX
fsr-3246	115	11	be	be	AUX
fsr-3246	115	12	higher	high	ADJ
fsr-3246	115	13	for	for	ADP
fsr-3246	115	14	example	example	NOUN
fsr-3246	115	15	.	.	PUNCT
fsr-3246	116	1	currently	currently	ADV
fsr-3246	116	2	,	,	PUNCT
fsr-3246	116	3	because	because	SCONJ
fsr-3246	116	4	bond	bond	NOUN
fsr-3246	116	5	yields	yield	NOUN
fsr-3246	116	6	are	be	AUX
fsr-3246	116	7	so	so	ADV
fsr-3246	116	8	low	low	ADJ
fsr-3246	116	9	,	,	PUNCT
fsr-3246	116	10	caps	cap	NOUN
fsr-3246	116	11	and	and	CCONJ
fsr-3246	116	12	participation	participation	NOUN
fsr-3246	116	13	rates	rate	NOUN
fsr-3246	116	14	are	be	AUX
fsr-3246	116	15	lower	low	ADJ
fsr-3246	116	16	.	.	PUNCT
fsr-3246	117	1	for	for	ADP
fsr-3246	117	2	example	example	NOUN
fsr-3246	117	3	,	,	PUNCT
fsr-3246	117	4	most	most	ADJ
fsr-3246	117	5	annual	annual	ADJ
fsr-3246	117	6	cap	cap	NOUN
fsr-3246	117	7	rates	rate	NOUN
fsr-3246	117	8	are	be	AUX
fsr-3246	117	9	currently	currently	ADV
fsr-3246	117	10	in	in	ADP
fsr-3246	117	11	the	the	DET
fsr-3246	117	12	3–4	3–4	NUM
fsr-3246	117	13	%	%	NOUN
fsr-3246	117	14	range	range	NOUN
fsr-3246	117	15	.	.	PUNCT
fsr-3246	118	1	3	3	X
fsr-3246	118	2	.	.	X
fsr-3246	118	3	summary	summary	NOUN
fsr-3246	118	4	literature	literature	PROPN
fsr-3246	118	5	review	review	PROPN
fsr-3246	118	6	reichenstein	reichenstein	NOUN
fsr-3246	118	7	(	(	PUNCT
fsr-3246	118	8	2009	2009	NUM
fsr-3246	118	9	)	)	PUNCT
fsr-3246	118	10	contains	contain	VERB
fsr-3246	118	11	an	an	DET
fsr-3246	118	12	in	in	ADP
fsr-3246	118	13	-	-	PUNCT
fsr-3246	118	14	depth	depth	NOUN
fsr-3246	118	15	review	review	NOUN
fsr-3246	118	16	of	of	ADP
fsr-3246	118	17	most	most	ADJ
fsr-3246	118	18	of	of	ADP
fsr-3246	118	19	the	the	DET
fsr-3246	118	20	relevant	relevant	ADJ
fsr-3246	118	21	and	and	CCONJ
fsr-3246	118	22	relatively	relatively	ADV
fsr-3246	118	23	little	little	ADJ
fsr-3246	118	24	prior	prior	ADJ
fsr-3246	118	25	academic	academic	ADJ
fsr-3246	118	26	research	research	NOUN
fsr-3246	118	27	into	into	ADP
fsr-3246	118	28	eias	eia	NOUN
fsr-3246	118	29	as	as	ADP
fsr-3246	118	30	investment	investment	NOUN
fsr-3246	118	31	products	product	NOUN
fsr-3246	118	32	.	.	PUNCT
fsr-3246	119	1	most	most	ADJ
fsr-3246	119	2	of	of	ADP
fsr-3246	119	3	the	the	DET
fsr-3246	119	4	previous	previous	ADJ
fsr-3246	119	5	empirical	empirical	ADJ
fsr-3246	119	6	research	research	NOUN
fsr-3246	119	7	on	on	ADP
fsr-3246	119	8	eias	eia	NOUN
fsr-3246	119	9	generally	generally	ADV
fsr-3246	119	10	follows	follow	VERB
fsr-3246	119	11	one	one	NUM
fsr-3246	119	12	of	of	ADP
fsr-3246	119	13	two	two	NUM
fsr-3246	119	14	methods	method	NOUN
fsr-3246	119	15	typically	typically	ADV
fsr-3246	119	16	used	use	VERB
fsr-3246	119	17	to	to	PART
fsr-3246	119	18	analyze	analyze	VERB
fsr-3246	119	19	optimal	optimal	ADJ
fsr-3246	119	20	withdrawal	withdrawal	NOUN
fsr-3246	119	21	rates	rate	NOUN
fsr-3246	119	22	for	for	ADP
fsr-3246	119	23	retirement	retirement	NOUN
fsr-3246	119	24	planning	planning	NOUN
fsr-3246	119	25	or	or	CCONJ
fsr-3246	119	26	to	to	PART
fsr-3246	119	27	analyze	analyze	VERB
fsr-3246	119	28	pension	pension	NOUN
fsr-3246	119	29	plan	plan	NOUN
fsr-3246	119	30	shortfalls	shortfall	NOUN
fsr-3246	119	31	.	.	PUNCT
fsr-3246	120	1	one	one	NUM
fsr-3246	120	2	method	method	NOUN
fsr-3246	120	3	uses	use	VERB
fsr-3246	120	4	monte	monte	PROPN
fsr-3246	120	5	carlo	carlo	PROPN
fsr-3246	120	6	or	or	CCONJ
fsr-3246	120	7	similar	similar	ADJ
fsr-3246	120	8	simulations	simulation	NOUN
fsr-3246	120	9	to	to	PART
fsr-3246	120	10	create	create	VERB
fsr-3246	120	11	a	a	DET
fsr-3246	120	12	probability	probability	NOUN
fsr-3246	120	13	distribution	distribution	NOUN
fsr-3246	120	14	of	of	ADP
fsr-3246	120	15	possible	possible	ADJ
fsr-3246	120	16	outcomes	outcome	NOUN
fsr-3246	120	17	,	,	PUNCT
fsr-3246	120	18	where	where	SCONJ
fsr-3246	120	19	the	the	DET
fsr-3246	120	20	inputs	input	NOUN
fsr-3246	120	21	for	for	ADP
fsr-3246	120	22	the	the	DET
fsr-3246	120	23	simulations	simulation	NOUN
fsr-3246	120	24	come	come	VERB
fsr-3246	120	25	from	from	ADP
fsr-3246	120	26	the	the	DET
fsr-3246	120	27	historical	historical	ADJ
fsr-3246	120	28	return	return	NOUN
fsr-3246	120	29	distribution	distribution	NOUN
fsr-3246	120	30	over	over	ADP
fsr-3246	120	31	some	some	DET
fsr-3246	120	32	time	time	NOUN
fsr-3246	120	33	period.7	period.7	NOUN
fsr-3246	120	34	the	the	DET
fsr-3246	120	35	second	second	ADJ
fsr-3246	120	36	method	method	NOUN
fsr-3246	120	37	creates	create	VERB
fsr-3246	120	38	a	a	DET
fsr-3246	120	39	distribution	distribution	NOUN
fsr-3246	120	40	by	by	ADP
fsr-3246	120	41	examining	examine	VERB
fsr-3246	120	42	all	all	DET
fsr-3246	120	43	the	the	DET
fsr-3246	120	44	returns	return	NOUN
fsr-3246	120	45	that	that	PRON
fsr-3246	120	46	could	could	AUX
fsr-3246	120	47	have	have	AUX
fsr-3246	120	48	been	be	AUX
fsr-3246	120	49	generated	generate	VERB
fsr-3246	120	50	from	from	ADP
fsr-3246	120	51	the	the	DET
fsr-3246	120	52	actual	actual	ADJ
fsr-3246	120	53	history	history	NOUN
fsr-3246	120	54	of	of	ADP
fsr-3246	120	55	returns	return	NOUN
fsr-3246	120	56	.	.	PUNCT
fsr-3246	121	1	in	in	ADP
fsr-3246	121	2	contrast	contrast	NOUN
fsr-3246	121	3	,	,	PUNCT
fsr-3246	121	4	vanderpal	vanderpal	ADJ
fsr-3246	121	5	,	,	PUNCT
fsr-3246	121	6	marrion	marrion	NOUN
fsr-3246	121	7	,	,	PUNCT
fsr-3246	121	8	and	and	CCONJ
fsr-3246	121	9	babbel	babbel	NOUN
fsr-3246	121	10	(	(	PUNCT
fsr-3246	121	11	2011	2011	NUM
fsr-3246	121	12	)	)	PUNCT
fsr-3246	121	13	in	in	ADP
fsr-3246	121	14	their	their	PRON
fsr-3246	121	15	series	series	NOUN
fsr-3246	121	16	of	of	ADP
fsr-3246	121	17	articles	article	NOUN
fsr-3246	121	18	titled	title	VERB
fsr-3246	121	19	“	"	PUNCT
fsr-3246	121	20	real	real	ADJ
fsr-3246	121	21	world	world	NOUN
fsr-3246	121	22	index	index	NOUN
fsr-3246	121	23	annuity	annuity	NOUN
fsr-3246	121	24	returns	return	NOUN
fsr-3246	121	25	”	"	PUNCT
fsr-3246	121	26	examine	examine	VERB
fsr-3246	121	27	five	five	NUM
fsr-3246	121	28	-	-	PUNCT
fsr-3246	121	29	year	year	NOUN
fsr-3246	121	30	returns	return	NOUN
fsr-3246	121	31	actually	actually	ADV
fsr-3246	121	32	credited	credit	VERB
fsr-3246	121	33	to	to	PART
fsr-3246	121	34	contract	contract	VERB
fsr-3246	121	35	values	value	NOUN
fsr-3246	121	36	for	for	ADP
fsr-3246	121	37	a	a	DET
fsr-3246	121	38	sample	sample	NOUN
fsr-3246	121	39	of	of	ADP
fsr-3246	121	40	annual	annual	ADJ
fsr-3246	121	41	point	point	NOUN
fsr-3246	121	42	-	-	PUNCT
fsr-3246	121	43	to	to	ADP
fsr-3246	121	44	-	-	PUNCT
fsr-3246	121	45	point	point	NOUN
fsr-3246	121	46	with	with	ADP
fsr-3246	121	47	cap	cap	NOUN
fsr-3246	121	48	contracts	contract	NOUN
fsr-3246	121	49	.	.	PUNCT
fsr-3246	122	1	as	as	SCONJ
fsr-3246	122	2	discussed	discuss	VERB
fsr-3246	122	3	in	in	ADP
fsr-3246	122	4	section	section	NOUN
fsr-3246	122	5	2	2	NUM
fsr-3246	122	6	above	above	ADV
fsr-3246	122	7	,	,	PUNCT
fsr-3246	122	8	there	there	PRON
fsr-3246	122	9	is	be	VERB
fsr-3246	122	10	a	a	DET
fsr-3246	122	11	significant	significant	ADJ
fsr-3246	122	12	difference	difference	NOUN
fsr-3246	122	13	between	between	ADP
fsr-3246	122	14	the	the	DET
fsr-3246	122	15	contract	contract	NOUN
fsr-3246	122	16	value	value	NOUN
fsr-3246	122	17	and	and	CCONJ
fsr-3246	122	18	realizable	realizable	ADJ
fsr-3246	122	19	cash	cash	NOUN
fsr-3246	122	20	value	value	NOUN
fsr-3246	122	21	,	,	PUNCT
fsr-3246	122	22	primarily	primarily	ADV
fsr-3246	122	23	because	because	SCONJ
fsr-3246	122	24	of	of	ADP
fsr-3246	122	25	surrender	surrender	NOUN
fsr-3246	122	26	charges	charge	NOUN
fsr-3246	122	27	.	.	PUNCT
fsr-3246	123	1	consequently	consequently	ADV
fsr-3246	123	2	,	,	PUNCT
fsr-3246	123	3	assuming	assume	VERB
fsr-3246	123	4	their	their	PRON
fsr-3246	123	5	small	small	ADJ
fsr-3246	123	6	sample	sample	NOUN
fsr-3246	123	7	selectively	selectively	ADV
fsr-3246	123	8	provided	provide	VERB
fsr-3246	123	9	by	by	ADP
fsr-3246	123	10	one	one	NUM
fsr-3246	123	11	insurance	insurance	NOUN
fsr-3246	123	12	company	company	NOUN
fsr-3246	123	13	is	be	AUX
fsr-3246	123	14	representative	representative	ADJ
fsr-3246	123	15	,	,	PUNCT
fsr-3246	123	16	their	their	PRON
fsr-3246	123	17	returns	return	NOUN
fsr-3246	123	18	are	be	AUX
fsr-3246	123	19	“	"	PUNCT
fsr-3246	123	20	real	real	ADJ
fsr-3246	123	21	”	"	PUNCT
fsr-3246	123	22	only	only	ADV
fsr-3246	123	23	if	if	SCONJ
fsr-3246	123	24	surrender	surrender	NOUN
fsr-3246	123	25	charges	charge	NOUN
fsr-3246	123	26	are	be	AUX
fsr-3246	123	27	ignored	ignore	VERB
fsr-3246	123	28	.	.	PUNCT
fsr-3246	124	1	kuhlemeyer	kuhlemeyer	PROPN
fsr-3246	124	2	(	(	PUNCT
fsr-3246	124	3	2000	2000	NUM
fsr-3246	124	4	)	)	PUNCT
fsr-3246	124	5	uses	use	VERB
fsr-3246	124	6	one	one	NUM
fsr-3246	124	7	,	,	PUNCT
fsr-3246	124	8	five	five	NUM
fsr-3246	124	9	,	,	PUNCT
fsr-3246	124	10	and	and	CCONJ
fsr-3246	124	11	nine	nine	NUM
fsr-3246	124	12	-	-	PUNCT
fsr-3246	124	13	year	year	NOUN
fsr-3246	124	14	point	point	NOUN
fsr-3246	124	15	to	to	PART
fsr-3246	124	16	point	point	VERB
fsr-3246	124	17	eias	eia	NOUN
fsr-3246	124	18	and	and	CCONJ
fsr-3246	124	19	also	also	ADV
fsr-3246	124	20	ignores	ignore	VERB
fsr-3246	124	21	the	the	DET
fsr-3246	124	22	impact	impact	NOUN
fsr-3246	124	23	of	of	ADP
fsr-3246	124	24	surrender	surrender	NOUN
fsr-3246	124	25	charges	charge	NOUN
fsr-3246	124	26	.	.	PUNCT
fsr-3246	125	1	huebscher	huebscher	PROPN
fsr-3246	125	2	(	(	PUNCT
fsr-3246	125	3	2011	2011	NUM
fsr-3246	125	4	)	)	PUNCT
fsr-3246	125	5	provides	provide	VERB
fsr-3246	125	6	an	an	DET
fsr-3246	125	7	interesting	interesting	ADJ
fsr-3246	125	8	critique	critique	NOUN
fsr-3246	125	9	of	of	ADP
fsr-3246	125	10	vanderpal	vanderpal	ADJ
fsr-3246	125	11	,	,	PUNCT
fsr-3246	125	12	marrion	marrion	NOUN
fsr-3246	125	13	,	,	PUNCT
fsr-3246	125	14	and	and	CCONJ
fsr-3246	125	15	babbel	babbel	NOUN
fsr-3246	125	16	(	(	PUNCT
fsr-3246	125	17	2011	2011	NUM
fsr-3246	125	18	)	)	PUNCT
fsr-3246	125	19	and	and	CCONJ
fsr-3246	125	20	further	far	ADV
fsr-3246	125	21	discusses	discuss	VERB
fsr-3246	125	22	reichenstein	reichenstein	NOUN
fsr-3246	125	23	(	(	PUNCT
fsr-3246	125	24	2009	2009	NUM
fsr-3246	125	25	)	)	PUNCT
fsr-3246	125	26	and	and	CCONJ
fsr-3246	125	27	previous	previous	ADJ
fsr-3246	125	28	authors	author	NOUN
fsr-3246	125	29	,	,	PUNCT
fsr-3246	125	30	indicating	indicate	VERB
fsr-3246	125	31	a	a	DET
fsr-3246	125	32	real	real	ADJ
fsr-3246	125	33	dichotomy	dichotomy	NOUN
fsr-3246	125	34	in	in	ADP
fsr-3246	125	35	the	the	DET
fsr-3246	125	36	research	research	NOUN
fsr-3246	125	37	conclusions	conclusion	NOUN
fsr-3246	125	38	of	of	ADP
fsr-3246	125	39	the	the	DET
fsr-3246	125	40	two	two	NUM
fsr-3246	125	41	groups	group	NOUN
fsr-3246	125	42	of	of	ADP
fsr-3246	125	43	authors	author	NOUN
fsr-3246	125	44	.	.	PUNCT
fsr-3246	126	1	table	table	NOUN
fsr-3246	126	2	2	2	NUM
fsr-3246	126	3	below	below	ADV
fsr-3246	126	4	contains	contain	VERB
fsr-3246	126	5	a	a	DET
fsr-3246	126	6	summary	summary	NOUN
fsr-3246	126	7	of	of	ADP
fsr-3246	126	8	much	much	ADJ
fsr-3246	126	9	of	of	ADP
fsr-3246	126	10	the	the	DET
fsr-3246	126	11	prior	prior	ADJ
fsr-3246	126	12	research	research	NOUN
fsr-3246	126	13	,	,	PUNCT
fsr-3246	126	14	indicating	indicate	VERB
fsr-3246	126	15	the	the	DET
fsr-3246	126	16	time	time	NOUN
fsr-3246	126	17	periods	period	NOUN
fsr-3246	126	18	,	,	PUNCT
fsr-3246	126	19	methodology	methodology	NOUN
fsr-3246	126	20	,	,	PUNCT
fsr-3246	126	21	and	and	CCONJ
fsr-3246	126	22	results	result	NOUN
fsr-3246	126	23	/	/	SYM
fsr-3246	126	24	conclusions	conclusion	NOUN
fsr-3246	126	25	.	.	PUNCT
fsr-3246	127	1	table	table	NOUN
fsr-3246	127	2	2	2	NUM
fsr-3246	127	3	excludes	exclude	NOUN
fsr-3246	127	4	research	research	NOUN
fsr-3246	127	5	by	by	ADP
fsr-3246	127	6	edwards	edwards	PROPN
fsr-3246	127	7	and	and	CCONJ
fsr-3246	127	8	swidler	swidler	NOUN
fsr-3246	127	9	(	(	PUNCT
fsr-3246	127	10	2005	2005	NUM
fsr-3246	127	11	)	)	PUNCT
fsr-3246	127	12	because	because	SCONJ
fsr-3246	127	13	,	,	PUNCT
fsr-3246	127	14	though	though	SCONJ
fsr-3246	127	15	they	they	PRON
fsr-3246	127	16	have	have	VERB
fsr-3246	127	17	similar	similar	ADJ
fsr-3246	127	18	features	feature	NOUN
fsr-3246	127	19	,	,	PUNCT
fsr-3246	127	20	equity	equity	NOUN
fsr-3246	127	21	linked	link	VERB
fsr-3246	127	22	certificates	certificate	NOUN
fsr-3246	127	23	of	of	ADP
fsr-3246	127	24	deposit	deposit	NOUN
fsr-3246	127	25	are	be	AUX
fsr-3246	127	26	different	different	ADJ
fsr-3246	127	27	.	.	PUNCT
fsr-3246	128	1	416	416	NUM
fsr-3246	128	2	a.	a.	NOUN
fsr-3246	128	3	terry	terry	PROPN
fsr-3246	128	4	,	,	PUNCT
fsr-3246	128	5	e.	e.	PROPN
fsr-3246	128	6	elder	elder	PROPN
fsr-3246	128	7	/	/	SYM
fsr-3246	128	8	financial	financial	ADJ
fsr-3246	128	9	services	service	NOUN
fsr-3246	128	10	review	review	VERB
fsr-3246	128	11	24	24	NUM
fsr-3246	128	12	(	(	PUNCT
fsr-3246	128	13	2015	2015	NUM
fsr-3246	128	14	)	)	PUNCT
fsr-3246	128	15	411–428	411–428	NUM
fsr-3246	128	16	unfortunately	unfortunately	ADV
fsr-3246	128	17	,	,	PUNCT
fsr-3246	128	18	a	a	DET
fsr-3246	128	19	more	more	ADV
fsr-3246	128	20	direct	direct	ADJ
fsr-3246	128	21	comparison	comparison	NOUN
fsr-3246	128	22	of	of	ADP
fsr-3246	128	23	the	the	DET
fsr-3246	128	24	results	result	NOUN
fsr-3246	128	25	of	of	ADP
fsr-3246	128	26	prior	prior	ADJ
fsr-3246	128	27	research	research	NOUN
fsr-3246	128	28	is	be	AUX
fsr-3246	128	29	made	make	VERB
fsr-3246	128	30	more	more	ADV
fsr-3246	128	31	difficult	difficult	ADJ
fsr-3246	128	32	not	not	PART
fsr-3246	128	33	only	only	ADV
fsr-3246	128	34	by	by	ADP
fsr-3246	128	35	the	the	DET
fsr-3246	128	36	differing	differing	ADJ
fsr-3246	128	37	time	time	NOUN
fsr-3246	128	38	periods	period	NOUN
fsr-3246	128	39	of	of	ADP
fsr-3246	128	40	study	study	NOUN
fsr-3246	128	41	,	,	PUNCT
fsr-3246	128	42	but	but	CCONJ
fsr-3246	128	43	also	also	ADV
fsr-3246	128	44	by	by	ADP
fsr-3246	128	45	the	the	DET
fsr-3246	128	46	fact	fact	NOUN
fsr-3246	128	47	that	that	SCONJ
fsr-3246	128	48	each	each	DET
fsr-3246	128	49	study	study	NOUN
fsr-3246	128	50	used	use	VERB
fsr-3246	128	51	eia	eia	PROPN
fsr-3246	128	52	contracts	contract	NOUN
fsr-3246	128	53	with	with	ADP
fsr-3246	128	54	different	different	ADJ
fsr-3246	128	55	characteristics	characteristic	NOUN
fsr-3246	128	56	.	.	PUNCT
fsr-3246	129	1	in	in	ADP
fsr-3246	129	2	reality	reality	NOUN
fsr-3246	129	3	,	,	PUNCT
fsr-3246	129	4	eias	eia	NOUN
fsr-3246	129	5	have	have	VERB
fsr-3246	129	6	several	several	ADJ
fsr-3246	129	7	different	different	ADJ
fsr-3246	129	8	contract	contract	NOUN
fsr-3246	129	9	variables	variable	NOUN
fsr-3246	129	10	that	that	PRON
fsr-3246	129	11	are	be	AUX
fsr-3246	129	12	not	not	PART
fsr-3246	129	13	constant	constant	ADJ
fsr-3246	129	14	through	through	ADP
fsr-3246	129	15	time	time	NOUN
fsr-3246	129	16	.	.	PUNCT
fsr-3246	130	1	the	the	DET
fsr-3246	130	2	option	option	NOUN
fsr-3246	130	3	to	to	PART
fsr-3246	130	4	change	change	VERB
fsr-3246	130	5	contract	contract	NOUN
fsr-3246	130	6	values	value	NOUN
fsr-3246	130	7	is	be	AUX
fsr-3246	130	8	valuable	valuable	ADJ
fsr-3246	130	9	to	to	ADP
fsr-3246	130	10	the	the	DET
fsr-3246	130	11	insurance	insurance	NOUN
fsr-3246	130	12	companies	company	NOUN
fsr-3246	130	13	and	and	CCONJ
fsr-3246	130	14	consequently	consequently	ADV
fsr-3246	130	15	ignoring	ignore	VERB
fsr-3246	130	16	this	this	DET
fsr-3246	130	17	option	option	NOUN
fsr-3246	130	18	likely	likely	ADV
fsr-3246	130	19	biases	bias	VERB
fsr-3246	130	20	the	the	DET
fsr-3246	130	21	results	result	NOUN
fsr-3246	130	22	in	in	ADP
fsr-3246	130	23	favor	favor	NOUN
fsr-3246	130	24	of	of	ADP
fsr-3246	130	25	the	the	DET
fsr-3246	130	26	eias	eias	PROPN
fsr-3246	130	27	.	.	PUNCT
fsr-3246	131	1	table	table	NOUN
fsr-3246	131	2	2	2	NUM
fsr-3246	131	3	summary	summary	NOUN
fsr-3246	131	4	of	of	ADP
fsr-3246	131	5	prior	prior	ADJ
fsr-3246	131	6	research	research	NOUN
fsr-3246	131	7	author(s	author(s	PROPN
fsr-3246	131	8	)	)	PUNCT
fsr-3246	131	9	time	time	NOUN
fsr-3246	131	10	period	period	NOUN
fsr-3246	131	11	/	/	SYM
fsr-3246	131	12	return	return	NOUN
fsr-3246	131	13	assumptions	assumption	NOUN
fsr-3246	131	14	methodology	methodology	NOUN
fsr-3246	131	15	results	result	NOUN
fsr-3246	131	16	/	/	SYM
fsr-3246	131	17	conclusion	conclusion	NOUN
fsr-3246	131	18	collins	collin	NOUN
fsr-3246	131	19	,	,	PUNCT
fsr-3246	131	20	lam	lam	PROPN
fsr-3246	131	21	,	,	PUNCT
fsr-3246	131	22	and	and	CCONJ
fsr-3246	131	23	stampfli	stampfli	NOUN
fsr-3246	131	24	(	(	PUNCT
fsr-3246	131	25	2009	2009	NUM
fsr-3246	131	26	)	)	PUNCT
fsr-3246	131	27	1996–2008	1996–2008	NUM
fsr-3246	131	28	(	(	PUNCT
fsr-3246	131	29	actual	actual	ADJ
fsr-3246	131	30	;	;	PUNCT
fsr-3246	131	31	228	228	NUM
fsr-3246	131	32	months	month	NOUN
fsr-3246	131	33	of	of	ADP
fsr-3246	131	34	data	datum	NOUN
fsr-3246	131	35	)	)	PUNCT
fsr-3246	131	36	compare	compare	VERB
fsr-3246	131	37	rolling	roll	VERB
fsr-3246	131	38	seven	seven	NUM
fsr-3246	131	39	year	year	NOUN
fsr-3246	131	40	cumulative	cumulative	ADJ
fsr-3246	131	41	point	point	NOUN
fsr-3246	131	42	-	-	PUNCT
fsr-3246	131	43	to	to	ADP
fsr-3246	131	44	-	-	PUNCT
fsr-3246	131	45	point	point	NOUN
fsr-3246	131	46	and	and	CCONJ
fsr-3246	131	47	annual	annual	ADJ
fsr-3246	131	48	reset	reset	ADJ
fsr-3246	131	49	eia	eia	NOUN
fsr-3246	131	50	payoffs	payoff	NOUN
fsr-3246	131	51	with	with	ADP
fsr-3246	131	52	actual	actual	ADJ
fsr-3246	131	53	s&p	s&p	PROPN
fsr-3246	131	54	500	500	NUM
fsr-3246	131	55	cumulative	cumulative	ADJ
fsr-3246	131	56	return	return	NOUN
fsr-3246	131	57	“	"	PUNCT
fsr-3246	131	58	eia	eia	NOUN
fsr-3246	131	59	contract	contract	NOUN
fsr-3246	131	60	holder	holder	NOUN
fsr-3246	131	61	incurred	incur	VERB
fsr-3246	131	62	significant	significant	ADJ
fsr-3246	131	63	opportunity	opportunity	NOUN
fsr-3246	131	64	cost	cost	NOUN
fsr-3246	131	65	during	during	ADP
fsr-3246	131	66	period	period	NOUN
fsr-3246	131	67	.	.	PUNCT
fsr-3246	131	68	.	.	PUNCT
fsr-3246	131	69	.	.	PUNCT
fsr-3246	131	70	”	"	PUNCT
fsr-3246	132	1	“	"	PUNCT
fsr-3246	132	2	results	result	VERB
fsr-3246	132	3	highly	highly	ADV
fsr-3246	132	4	sensitive	sensitive	ADJ
fsr-3246	132	5	to	to	ADP
fsr-3246	132	6	beginning	begin	VERB
fsr-3246	132	7	and	and	CCONJ
fsr-3246	132	8	ending	end	VERB
fsr-3246	132	9	dates	date	NOUN
fsr-3246	132	10	”	"	PUNCT
fsr-3246	132	11	collins	collin	NOUN
fsr-3246	132	12	,	,	PUNCT
fsr-3246	132	13	lam	lam	PROPN
fsr-3246	132	14	,	,	PUNCT
fsr-3246	132	15	and	and	CCONJ
fsr-3246	132	16	stampfli	stampfli	NOUN
fsr-3246	132	17	(	(	PUNCT
fsr-3246	132	18	2009	2009	NUM
fsr-3246	132	19	)	)	PUNCT
fsr-3246	132	20	1973–2008	1973–2008	NOUN
fsr-3246	132	21	(	(	PUNCT
fsr-3246	132	22	5,000	5,000	NUM
fsr-3246	132	23	simulations	simulation	NOUN
fsr-3246	132	24	using	use	VERB
fsr-3246	132	25	distribution	distribution	NOUN
fsr-3246	132	26	statistics	statistic	NOUN
fsr-3246	132	27	based	base	VERB
fsr-3246	132	28	on	on	ADP
fsr-3246	132	29	this	this	DET
fsr-3246	132	30	time	time	NOUN
fsr-3246	132	31	period	period	NOUN
fsr-3246	132	32	)	)	PUNCT
fsr-3246	132	33	simulated	simulate	VERB
fsr-3246	132	34	payoffs	payoff	NOUN
fsr-3246	132	35	on	on	ADP
fsr-3246	132	36	representative	representative	ADJ
fsr-3246	132	37	seven	seven	NUM
fsr-3246	132	38	-	-	PUNCT
fsr-3246	132	39	year	year	NOUN
fsr-3246	132	40	point	point	NOUN
fsr-3246	132	41	-	-	PUNCT
fsr-3246	132	42	to	to	ADP
fsr-3246	132	43	-	-	PUNCT
fsr-3246	132	44	point	point	NOUN
fsr-3246	132	45	and	and	CCONJ
fsr-3246	132	46	annual	annual	ADJ
fsr-3246	132	47	reset	reset	NOUN
fsr-3246	132	48	eias	eia	NOUN
fsr-3246	132	49	with	with	ADP
fsr-3246	132	50	various	various	ADJ
fsr-3246	132	51	t	t	PROPN
fsr-3246	132	52	-	-	PUNCT
fsr-3246	132	53	bill	bill	NOUN
fsr-3246	132	54	and	and	CCONJ
fsr-3246	132	55	s&p500	s&p500	NOUN
fsr-3246	132	56	combination	combination	NOUN
fsr-3246	132	57	portfolios	portfolio	NOUN
fsr-3246	132	58	eia	eia	PROPN
fsr-3246	132	59	’s	’s	PART
fsr-3246	132	60	guaranteed	guarantee	VERB
fsr-3246	132	61	cumulative	cumulative	ADJ
fsr-3246	132	62	return	return	NOUN
fsr-3246	132	63	�	�	PROPN
fsr-3246	132	64	50	50	NUM
fsr-3246	132	65	%	%	NOUN
fsr-3246	132	66	50	50	NUM
fsr-3246	132	67	%	%	NOUN
fsr-3246	132	68	stocks	stock	NOUN
fsr-3246	132	69	-	-	PUNCT
fsr-3246	132	70	bills	bill	NOUN
fsr-3246	132	71	portfolio	portfolio	NOUN
fsr-3246	132	72	16.1	16.1	NUM
fsr-3246	132	73	%	%	NOUN
fsr-3246	132	74	of	of	ADP
fsr-3246	132	75	the	the	DET
fsr-3246	132	76	time	time	NOUN
fsr-3246	132	77	;	;	PUNCT
fsr-3246	132	78	maximum	maximum	ADJ
fsr-3246	132	79	return	return	NOUN
fsr-3246	132	80	�	�	PROPN
fsr-3246	132	81	50	50	NUM
fsr-3246	132	82	%	%	NOUN
fsr-3246	132	83	50	50	NUM
fsr-3246	132	84	%	%	NOUN
fsr-3246	132	85	portfolio	portfolio	NOUN
fsr-3246	132	86	42	42	NUM
fsr-3246	132	87	%	%	NOUN
fsr-3246	132	88	of	of	ADP
fsr-3246	132	89	the	the	DET
fsr-3246	132	90	time	time	NOUN
fsr-3246	132	91	kuhlemeyer	kuhlemeyer	PROPN
fsr-3246	132	92	(	(	PUNCT
fsr-3246	132	93	2000	2000	NUM
fsr-3246	132	94	)	)	PUNCT
fsr-3246	132	95	1925–1998	1925–1998	NUM
fsr-3246	132	96	random	random	ADJ
fsr-3246	132	97	sample	sample	NOUN
fsr-3246	132	98	of	of	ADP
fsr-3246	132	99	100,000	100,000	NUM
fsr-3246	132	100	monthly	monthly	ADJ
fsr-3246	132	101	returns	return	NOUN
fsr-3246	132	102	with	with	ADP
fsr-3246	132	103	replacement	replacement	NOUN
fsr-3246	132	104	to	to	PART
fsr-3246	132	105	estimate	estimate	VERB
fsr-3246	132	106	eia	eia	NOUN
fsr-3246	132	107	returns	return	NOUN
fsr-3246	132	108	for	for	ADP
fsr-3246	132	109	one	one	NUM
fsr-3246	132	110	,	,	PUNCT
fsr-3246	132	111	five	five	NUM
fsr-3246	132	112	,	,	PUNCT
fsr-3246	132	113	and	and	CCONJ
fsr-3246	132	114	nine	nine	NUM
fsr-3246	132	115	year	year	NOUN
fsr-3246	132	116	point	point	NOUN
fsr-3246	132	117	to	to	PART
fsr-3246	132	118	point	point	VERB
fsr-3246	132	119	contracts	contract	NOUN
fsr-3246	132	120	finds	find	VERB
fsr-3246	132	121	the	the	DET
fsr-3246	132	122	returns	return	NOUN
fsr-3246	132	123	from	from	ADP
fsr-3246	132	124	eias	eia	NOUN
fsr-3246	132	125	to	to	PART
fsr-3246	132	126	be	be	AUX
fsr-3246	132	127	less	less	ADJ
fsr-3246	132	128	than	than	ADP
fsr-3246	132	129	exciting	exciting	ADJ
fsr-3246	132	130	when	when	SCONJ
fsr-3246	132	131	compared	compare	VERB
fsr-3246	132	132	with	with	ADP
fsr-3246	132	133	conventional	conventional	ADJ
fsr-3246	132	134	alternatives	alternative	NOUN
fsr-3246	132	135	mccann	mccann	PROPN
fsr-3246	132	136	and	and	CCONJ
fsr-3246	132	137	luo	luo	PROPN
fsr-3246	132	138	(	(	PUNCT
fsr-3246	132	139	2006	2006	NUM
fsr-3246	132	140	)	)	PUNCT
fsr-3246	132	141	simulations	simulation	NOUN
fsr-3246	132	142	assuming	assume	VERB
fsr-3246	132	143	mean	mean	PROPN
fsr-3246	132	144	s&p	s&p	PROPN
fsr-3246	132	145	500	500	NUM
fsr-3246	132	146	return	return	NOUN
fsr-3246	132	147	of	of	ADP
fsr-3246	132	148	10	10	NUM
fsr-3246	132	149	%	%	NOUN
fsr-3246	132	150	and	and	CCONJ
fsr-3246	132	151	sd	sd	NOUN
fsr-3246	132	152	of	of	ADP
fsr-3246	132	153	20	20	NUM
fsr-3246	132	154	%	%	NOUN
fsr-3246	132	155	compare	compare	VERB
fsr-3246	132	156	simulated	simulate	VERB
fsr-3246	132	157	returns	return	NOUN
fsr-3246	132	158	on	on	ADP
fsr-3246	132	159	a	a	DET
fsr-3246	132	160	10	10	NUM
fsr-3246	132	161	-	-	PUNCT
fsr-3246	132	162	year	year	NOUN
fsr-3246	132	163	point	point	NOUN
fsr-3246	132	164	-	-	PUNCT
fsr-3246	132	165	topoint	topoint	NOUN
fsr-3246	132	166	eia	eia	NOUN
fsr-3246	132	167	with	with	ADP
fsr-3246	132	168	60	60	NUM
fsr-3246	132	169	%	%	NOUN
fsr-3246	132	170	10yr	10yr	ADJ
fsr-3246	132	171	treasury	treasury	NOUN
fsr-3246	132	172	and	and	CCONJ
fsr-3246	132	173	40	40	NUM
fsr-3246	132	174	%	%	NOUN
fsr-3246	132	175	s&p	s&p	PROPN
fsr-3246	132	176	500	500	NUM
fsr-3246	132	177	“	"	PUNCT
fsr-3246	132	178	96.9	96.9	NUM
fsr-3246	132	179	%	%	NOUN
fsr-3246	132	180	of	of	ADP
fsr-3246	132	181	the	the	DET
fsr-3246	132	182	time	time	NOUN
fsr-3246	132	183	the	the	DET
fsr-3246	132	184	investor	investor	NOUN
fsr-3246	132	185	is	be	AUX
fsr-3246	132	186	better	well	ADJ
fsr-3246	132	187	off	off	ADP
fsr-3246	132	188	with	with	ADP
fsr-3246	132	189	treasuries	treasury	NOUN
fsr-3246	132	190	and	and	CCONJ
fsr-3246	132	191	stocks	stock	NOUN
fsr-3246	132	192	than	than	ADP
fsr-3246	132	193	with	with	ADP
fsr-3246	132	194	the	the	DET
fsr-3246	132	195	eia	eia	PROPN
fsr-3246	132	196	”	"	PUNCT
fsr-3246	132	197	mccann	mccann	PROPN
fsr-3246	132	198	(	(	PUNCT
fsr-3246	132	199	2008	2008	NUM
fsr-3246	132	200	)	)	PUNCT
fsr-3246	132	201	simulations	simulation	NOUN
fsr-3246	132	202	assume	assume	VERB
fsr-3246	132	203	12.5	12.5	NUM
fsr-3246	132	204	%	%	NOUN
fsr-3246	132	205	expected	expect	VERB
fsr-3246	132	206	annual	annual	ADJ
fsr-3246	132	207	s&p	s&p	PROPN
fsr-3246	132	208	500	500	NUM
fsr-3246	132	209	return	return	NOUN
fsr-3246	132	210	,	,	PUNCT
fsr-3246	132	211	2.5	2.5	NUM
fsr-3246	132	212	%	%	NOUN
fsr-3246	132	213	dividend	dividend	NOUN
fsr-3246	132	214	yield	yield	NOUN
fsr-3246	132	215	compares	compare	VERB
fsr-3246	132	216	simulated	simulated	ADJ
fsr-3246	132	217	returns	return	NOUN
fsr-3246	132	218	on	on	ADP
fsr-3246	132	219	a	a	DET
fsr-3246	132	220	14	14	NUM
fsr-3246	132	221	-	-	PUNCT
fsr-3246	132	222	year	year	NOUN
fsr-3246	132	223	annual	annual	ADJ
fsr-3246	132	224	point	point	NOUN
fsr-3246	132	225	-	-	PUNCT
fsr-3246	132	226	to	to	ADP
fsr-3246	132	227	-	-	PUNCT
fsr-3246	132	228	point	point	NOUN
fsr-3246	132	229	,	,	PUNCT
fsr-3246	132	230	4	4	NUM
fsr-3246	132	231	%	%	NOUN
fsr-3246	132	232	monthly	monthly	ADJ
fsr-3246	132	233	cap	cap	NOUN
fsr-3246	132	234	eia	eia	VERB
fsr-3246	132	235	with	with	ADP
fsr-3246	132	236	a	a	DET
fsr-3246	132	237	70	70	NUM
fsr-3246	132	238	%	%	NOUN
fsr-3246	132	239	14	14	NUM
fsr-3246	132	240	-	-	PUNCT
fsr-3246	132	241	yr	yr	PROPN
fsr-3246	132	242	treasury	treasury	PROPN
fsr-3246	132	243	strip	strip	NOUN
fsr-3246	132	244	and	and	CCONJ
fsr-3246	132	245	30	30	NUM
fsr-3246	132	246	%	%	NOUN
fsr-3246	132	247	s&p	s&p	PROPN
fsr-3246	132	248	500	500	NUM
fsr-3246	132	249	“	"	PUNCT
fsr-3246	132	250	99.8	99.8	NUM
fsr-3246	132	251	%	%	NOUN
fsr-3246	132	252	of	of	ADP
fsr-3246	132	253	the	the	DET
fsr-3246	132	254	time	time	NOUN
fsr-3246	132	255	the	the	DET
fsr-3246	132	256	investor	investor	NOUN
fsr-3246	132	257	would	would	AUX
fsr-3246	132	258	be	be	AUX
fsr-3246	132	259	better	well	ADJ
fsr-3246	132	260	off	off	ADP
fsr-3246	132	261	with	with	ADP
fsr-3246	132	262	the	the	DET
fsr-3246	132	263	treasury	treasury	PROPN
fsr-3246	132	264	securities	security	NOUN
fsr-3246	132	265	and	and	CCONJ
fsr-3246	132	266	stock	stock	NOUN
fsr-3246	132	267	than	than	ADP
fsr-3246	132	268	with	with	ADP
fsr-3246	132	269	the	the	DET
fsr-3246	132	270	eias	eia	NOUN
fsr-3246	132	271	”	"	PUNCT
fsr-3246	132	272	reichenstein	reichenstein	NOUN
fsr-3246	132	273	(	(	PUNCT
fsr-3246	132	274	2009	2009	NUM
fsr-3246	132	275	)	)	PUNCT
fsr-3246	132	276	1957–2008	1957–2008	NUM
fsr-3246	132	277	actual	actual	ADJ
fsr-3246	132	278	annual	annual	ADJ
fsr-3246	132	279	returns	return	NOUN
fsr-3246	132	280	compares	compare	VERB
fsr-3246	132	281	capm	capm	PROPN
fsr-3246	132	282	risk	risk	NOUN
fsr-3246	132	283	adjusted	adjust	VERB
fsr-3246	132	284	returns	return	NOUN
fsr-3246	132	285	on	on	ADP
fsr-3246	132	286	various	various	ADJ
fsr-3246	132	287	annual	annual	ADJ
fsr-3246	132	288	reset	reset	ADJ
fsr-3246	132	289	eia	eia	PROPN
fsr-3246	132	290	contract	contract	NOUN
fsr-3246	132	291	types	type	NOUN
fsr-3246	132	292	using	use	VERB
fsr-3246	132	293	an	an	DET
fsr-3246	132	294	annual	annual	ADJ
fsr-3246	132	295	reset	reset	NOUN
fsr-3246	132	296	eia	eia	NOUN
fsr-3246	132	297	with	with	ADP
fsr-3246	132	298	7	7	NUM
fsr-3246	132	299	%	%	NOUN
fsr-3246	132	300	annual	annual	ADJ
fsr-3246	132	301	cap	cap	NOUN
fsr-3246	132	302	,	,	PUNCT
fsr-3246	132	303	estimates	estimate	VERB
fsr-3246	132	304	an	an	DET
fsr-3246	132	305	�	�	PROPN
fsr-3246	132	306	of	of	ADP
fsr-3246	132	307	�	�	PROPN
fsr-3246	132	308	1.92	1.92	NUM
fsr-3246	132	309	%	%	NOUN
fsr-3246	132	310	and	and	CCONJ
fsr-3246	132	311	sharpe	sharpe	PROPN
fsr-3246	132	312	ratio	ratio	NOUN
fsr-3246	132	313	of	of	ADP
fsr-3246	132	314	�	�	PROPN
fsr-3246	132	315	0.22	0.22	NUM
fsr-3246	132	316	vanderpal	vanderpal	ADJ
fsr-3246	132	317	,	,	PUNCT
fsr-3246	132	318	marrion	marrion	NOUN
fsr-3246	132	319	,	,	PUNCT
fsr-3246	132	320	and	and	CCONJ
fsr-3246	132	321	babbel	babbel	NOUN
fsr-3246	132	322	(	(	PUNCT
fsr-3246	132	323	2011	2011	NUM
fsr-3246	132	324	)	)	PUNCT
fsr-3246	132	325	1996–2010	1996–2010	NUM
fsr-3246	132	326	compute	compute	NOUN
fsr-3246	132	327	rolling	roll	VERB
fsr-3246	132	328	five	five	NUM
fsr-3246	132	329	-	-	PUNCT
fsr-3246	132	330	year	year	NOUN
fsr-3246	132	331	geometric	geometric	ADJ
fsr-3246	132	332	average	average	ADJ
fsr-3246	132	333	annual	annual	ADJ
fsr-3246	132	334	rates	rate	NOUN
fsr-3246	132	335	of	of	ADP
fsr-3246	132	336	return	return	NOUN
fsr-3246	132	337	based	base	VERB
fsr-3246	132	338	on	on	ADP
fsr-3246	132	339	rates	rate	NOUN
fsr-3246	132	340	credited	credit	VERB
fsr-3246	132	341	to	to	ADP
fsr-3246	132	342	a	a	DET
fsr-3246	132	343	sample	sample	NOUN
fsr-3246	132	344	of	of	ADP
fsr-3246	132	345	annuity	annuity	NOUN
fsr-3246	132	346	owners	owner	NOUN
fsr-3246	132	347	5	5	NUM
fsr-3246	132	348	-	-	PUNCT
fsr-3246	132	349	year	year	NOUN
fsr-3246	132	350	total	total	NOUN
fsr-3246	132	351	returns	return	NOUN
fsr-3246	132	352	based	base	VERB
fsr-3246	132	353	on	on	ADP
fsr-3246	132	354	credited	credit	VERB
fsr-3246	132	355	rates	rate	NOUN
fsr-3246	132	356	outperform	outperform	VERB
fsr-3246	132	357	s&p	s&p	PROPN
fsr-3246	132	358	500	500	NUM
fsr-3246	132	359	67	67	NUM
fsr-3246	132	360	%	%	NOUN
fsr-3246	132	361	of	of	ADP
fsr-3246	132	362	time	time	NOUN
fsr-3246	132	363	and	and	CCONJ
fsr-3246	132	364	50	50	NUM
fsr-3246	132	365	%	%	NOUN
fsr-3246	132	366	tbills/50	tbills/50	NOUN
fsr-3246	132	367	%	%	NOUN
fsr-3246	132	368	s&p	s&p	PROPN
fsr-3246	132	369	500	500	NUM
fsr-3246	132	370	79	79	NUM
fsr-3246	132	371	%	%	NOUN
fsr-3246	132	372	of	of	ADP
fsr-3246	132	373	the	the	DET
fsr-3246	132	374	time	time	NOUN
fsr-3246	132	375	417a	417a	PROPN
fsr-3246	132	376	.	.	PUNCT
fsr-3246	133	1	terry	terry	PROPN
fsr-3246	133	2	,	,	PUNCT
fsr-3246	133	3	e.	e.	PROPN
fsr-3246	133	4	elder	elder	PROPN
fsr-3246	133	5	/	/	SYM
fsr-3246	133	6	financial	financial	ADJ
fsr-3246	133	7	services	service	NOUN
fsr-3246	133	8	review	review	VERB
fsr-3246	133	9	24	24	NUM
fsr-3246	133	10	(	(	PUNCT
fsr-3246	133	11	2015	2015	NUM
fsr-3246	133	12	)	)	PUNCT
fsr-3246	133	13	411–428	411–428	NUM
fsr-3246	133	14	4	4	NUM
fsr-3246	133	15	.	.	PUNCT
fsr-3246	133	16	extension	extension	NOUN
fsr-3246	133	17	of	of	ADP
fsr-3246	133	18	reichenstein	reichenstein	PROPN
fsr-3246	133	19	reichenstein	reichenstein	PROPN
fsr-3246	133	20	(	(	PUNCT
fsr-3246	133	21	2009	2009	NUM
fsr-3246	133	22	)	)	PUNCT
fsr-3246	133	23	regressed	regress	VERB
fsr-3246	133	24	hypothetical	hypothetical	ADJ
fsr-3246	133	25	annual	annual	ADJ
fsr-3246	133	26	returns	return	NOUN
fsr-3246	133	27	from	from	ADP
fsr-3246	133	28	a	a	DET
fsr-3246	133	29	variety	variety	NOUN
fsr-3246	133	30	of	of	ADP
fsr-3246	133	31	annual	annual	ADJ
fsr-3246	133	32	reset	reset	ADJ
fsr-3246	133	33	eia	eia	NOUN
fsr-3246	133	34	contracts	contract	NOUN
fsr-3246	133	35	on	on	ADP
fsr-3246	133	36	the	the	DET
fsr-3246	133	37	s&p	s&p	PROPN
fsr-3246	133	38	500	500	NUM
fsr-3246	133	39	over	over	ADP
fsr-3246	133	40	the	the	DET
fsr-3246	133	41	1957–2008	1957–2008	NUM
fsr-3246	133	42	period	period	NOUN
fsr-3246	133	43	to	to	PART
fsr-3246	133	44	estimate	estimate	VERB
fsr-3246	133	45	capm	capm	PROPN
fsr-3246	133	46	�	�	PROPN
fsr-3246	133	47	s.	s.	PROPN
fsr-3246	133	48	his	his	PRON
fsr-3246	133	49	�	�	PROPN
fsr-3246	133	50	estimates	estimate	NOUN
fsr-3246	133	51	ranged	range	VERB
fsr-3246	133	52	from	from	ADP
fsr-3246	133	53	0.10	0.10	NUM
fsr-3246	133	54	for	for	ADP
fsr-3246	133	55	a	a	DET
fsr-3246	133	56	4	4	NUM
fsr-3246	133	57	%	%	NOUN
fsr-3246	133	58	cap	cap	NOUN
fsr-3246	133	59	to	to	ADP
fsr-3246	133	60	0.17	0.17	NUM
fsr-3246	133	61	for	for	ADP
fsr-3246	133	62	a	a	DET
fsr-3246	133	63	7	7	NUM
fsr-3246	133	64	%	%	NOUN
fsr-3246	133	65	cap.8	cap.8	NOUN
fsr-3246	133	66	he	he	PRON
fsr-3246	133	67	then	then	ADV
fsr-3246	133	68	shows	show	VERB
fsr-3246	133	69	that	that	SCONJ
fsr-3246	133	70	,	,	PUNCT
fsr-3246	133	71	on	on	ADP
fsr-3246	133	72	a	a	DET
fsr-3246	133	73	capm	capm	PROPN
fsr-3246	133	74	risk	risk	NOUN
fsr-3246	133	75	-	-	PUNCT
fsr-3246	133	76	adjusted	adjust	VERB
fsr-3246	133	77	basis	basis	NOUN
fsr-3246	133	78	,	,	PUNCT
fsr-3246	133	79	eias	eia	NOUN
fsr-3246	133	80	underperform	underperform	VERB
fsr-3246	133	81	the	the	DET
fsr-3246	133	82	s&p	s&p	PROPN
fsr-3246	133	83	500	500	NUM
fsr-3246	133	84	and	and	CCONJ
fsr-3246	133	85	treasury	treasury	PROPN
fsr-3246	133	86	bills	bill	NOUN
fsr-3246	133	87	by	by	ADP
fsr-3246	133	88	2–3	2–3	NOUN
fsr-3246	133	89	%	%	NOUN
fsr-3246	133	90	from	from	ADP
fsr-3246	133	91	1957	1957	NUM
fsr-3246	133	92	to	to	ADP
fsr-3246	133	93	2008	2008	NUM
fsr-3246	133	94	.	.	PUNCT
fsr-3246	134	1	the	the	DET
fsr-3246	134	2	magnitude	magnitude	NOUN
fsr-3246	134	3	of	of	ADP
fsr-3246	134	4	this	this	DET
fsr-3246	134	5	underperformance	underperformance	NOUN
fsr-3246	134	6	is	be	AUX
fsr-3246	134	7	completely	completely	ADV
fsr-3246	134	8	consistent	consistent	ADJ
fsr-3246	134	9	with	with	ADP
fsr-3246	134	10	the	the	DET
fsr-3246	134	11	investment	investment	NOUN
fsr-3246	134	12	spreads	spread	NOUN
fsr-3246	134	13	discussed	discuss	VERB
fsr-3246	134	14	in	in	ADP
fsr-3246	134	15	section	section	NOUN
fsr-3246	134	16	2	2	NUM
fsr-3246	134	17	above	above	ADV
fsr-3246	134	18	.	.	PUNCT
fsr-3246	135	1	reichenstein	reichenstein	PROPN
fsr-3246	135	2	’s	’s	PART
fsr-3246	135	3	analysis	analysis	NOUN
fsr-3246	135	4	used	use	VERB
fsr-3246	135	5	annual	annual	ADJ
fsr-3246	135	6	january	january	PROPN
fsr-3246	135	7	through	through	ADP
fsr-3246	135	8	december	december	PROPN
fsr-3246	135	9	returns	return	NOUN
fsr-3246	135	10	,	,	PUNCT
fsr-3246	135	11	assuming	assume	VERB
fsr-3246	135	12	someone	someone	PRON
fsr-3246	135	13	invested	invest	VERB
fsr-3246	135	14	in	in	ADP
fsr-3246	135	15	january	january	PROPN
fsr-3246	135	16	1957	1957	NUM
fsr-3246	135	17	and	and	CCONJ
fsr-3246	135	18	remained	remained	AUX
fsr-3246	135	19	invested	invest	VERB
fsr-3246	135	20	through	through	ADP
fsr-3246	135	21	december	december	PROPN
fsr-3246	135	22	2008	2008	NUM
fsr-3246	135	23	,	,	PUNCT
fsr-3246	135	24	to	to	PART
fsr-3246	135	25	estimate	estimate	VERB
fsr-3246	135	26	capm	capm	PROPN
fsr-3246	135	27	�	�	PROPN
fsr-3246	135	28	s	s	PART
fsr-3246	135	29	,	,	PUNCT
fsr-3246	135	30	�	�	PROPN
fsr-3246	135	31	s	s	PART
fsr-3246	135	32	,	,	PUNCT
fsr-3246	135	33	and	and	CCONJ
fsr-3246	135	34	sharpe	sharpe	PROPN
fsr-3246	135	35	ratios	ratio	NOUN
fsr-3246	135	36	.	.	PUNCT
fsr-3246	136	1	it	it	PRON
fsr-3246	136	2	thus	thus	ADV
fsr-3246	136	3	captures	capture	VERB
fsr-3246	136	4	only	only	ADV
fsr-3246	136	5	one	one	NUM
fsr-3246	136	6	of	of	ADP
fsr-3246	136	7	many	many	ADJ
fsr-3246	136	8	possible	possible	ADJ
fsr-3246	136	9	return	return	NOUN
fsr-3246	136	10	sequences	sequence	NOUN
fsr-3246	136	11	that	that	PRON
fsr-3246	136	12	would	would	AUX
fsr-3246	136	13	have	have	AUX
fsr-3246	136	14	actually	actually	ADV
fsr-3246	136	15	been	be	AUX
fsr-3246	136	16	available	available	ADJ
fsr-3246	136	17	to	to	ADP
fsr-3246	136	18	investors	investor	NOUN
fsr-3246	136	19	.	.	PUNCT
fsr-3246	137	1	we	we	PRON
fsr-3246	137	2	extend	extend	VERB
fsr-3246	137	3	his	his	PRON
fsr-3246	137	4	original	original	ADJ
fsr-3246	137	5	analysis	analysis	NOUN
fsr-3246	137	6	in	in	ADP
fsr-3246	137	7	three	three	NUM
fsr-3246	137	8	ways	way	NOUN
fsr-3246	137	9	.	.	PUNCT
fsr-3246	138	1	first	first	ADV
fsr-3246	138	2	,	,	PUNCT
fsr-3246	138	3	we	we	PRON
fsr-3246	138	4	use	use	VERB
fsr-3246	138	5	monthly	monthly	ADJ
fsr-3246	138	6	data	datum	NOUN
fsr-3246	138	7	going	go	VERB
fsr-3246	138	8	back	back	ADV
fsr-3246	138	9	to	to	ADP
fsr-3246	138	10	1928	1928	NUM
fsr-3246	138	11	and	and	CCONJ
fsr-3246	138	12	re	re	VERB
fsr-3246	138	13	-	-	VERB
fsr-3246	138	14	estimate	estimate	VERB
fsr-3246	138	15	his	his	PRON
fsr-3246	138	16	regression	regression	NOUN
fsr-3246	138	17	equations	equation	NOUN
fsr-3246	138	18	for	for	ADP
fsr-3246	138	19	the	the	DET
fsr-3246	138	20	7	7	NUM
fsr-3246	138	21	%	%	NOUN
fsr-3246	138	22	,	,	PUNCT
fsr-3246	138	23	6	6	NUM
fsr-3246	138	24	%	%	NOUN
fsr-3246	138	25	,	,	PUNCT
fsr-3246	138	26	and	and	CCONJ
fsr-3246	138	27	5	5	NUM
fsr-3246	138	28	%	%	NOUN
fsr-3246	138	29	eia	eia	NOUN
fsr-3246	138	30	with	with	ADP
fsr-3246	138	31	annual	annual	ADJ
fsr-3246	138	32	reset.9	reset.9	NOUN
fsr-3246	138	33	these	these	DET
fsr-3246	138	34	results	result	NOUN
fsr-3246	138	35	are	be	AUX
fsr-3246	138	36	reported	report	VERB
fsr-3246	138	37	in	in	ADP
fsr-3246	138	38	table	table	NOUN
fsr-3246	138	39	3	3	NUM
fsr-3246	138	40	.	.	PUNCT
fsr-3246	138	41	as	as	SCONJ
fsr-3246	138	42	indicated	indicate	VERB
fsr-3246	138	43	in	in	ADP
fsr-3246	138	44	table	table	NOUN
fsr-3246	138	45	3	3	NUM
fsr-3246	138	46	,	,	PUNCT
fsr-3246	138	47	extending	extend	VERB
fsr-3246	138	48	the	the	DET
fsr-3246	138	49	time	time	NOUN
fsr-3246	138	50	period	period	NOUN
fsr-3246	138	51	to	to	PART
fsr-3246	138	52	include	include	VERB
fsr-3246	138	53	the	the	DET
fsr-3246	138	54	volatile	volatile	ADJ
fsr-3246	138	55	and	and	CCONJ
fsr-3246	138	56	depressed	depressed	ADJ
fsr-3246	138	57	1930s	1930	NOUN
fsr-3246	138	58	increases	increase	VERB
fsr-3246	138	59	the	the	DET
fsr-3246	138	60	standard	standard	ADJ
fsr-3246	138	61	deviation	deviation	NOUN
fsr-3246	138	62	and	and	CCONJ
fsr-3246	138	63	sharpe	sharpe	NOUN
fsr-3246	138	64	ratio	ratio	NOUN
fsr-3246	138	65	of	of	ADP
fsr-3246	138	66	the	the	DET
fsr-3246	138	67	s&p	s&p	PROPN
fsr-3246	138	68	500	500	NUM
fsr-3246	138	69	.	.	PUNCT
fsr-3246	139	1	in	in	ADP
fsr-3246	139	2	addition	addition	NOUN
fsr-3246	139	3	,	,	PUNCT
fsr-3246	139	4	including	include	VERB
fsr-3246	139	5	the	the	DET
fsr-3246	139	6	prior	prior	ADJ
fsr-3246	139	7	and	and	CCONJ
fsr-3246	139	8	most	most	ADV
fsr-3246	139	9	recent	recent	ADJ
fsr-3246	139	10	years	year	NOUN
fsr-3246	139	11	when	when	SCONJ
fsr-3246	139	12	treasury	treasury	NOUN
fsr-3246	139	13	yields	yield	NOUN
fsr-3246	139	14	were	be	AUX
fsr-3246	139	15	significantly	significantly	ADV
fsr-3246	139	16	lower	low	ADJ
fsr-3246	139	17	drives	drive	NOUN
fsr-3246	139	18	down	down	ADP
fsr-3246	139	19	the	the	DET
fsr-3246	139	20	compound	compound	NOUN
fsr-3246	139	21	annual	annual	ADJ
fsr-3246	139	22	return	return	NOUN
fsr-3246	139	23	on	on	ADP
fsr-3246	139	24	bills	bill	NOUN
fsr-3246	139	25	from	from	ADP
fsr-3246	139	26	5.27	5.27	NUM
fsr-3246	139	27	%	%	NOUN
fsr-3246	139	28	to	to	ADP
fsr-3246	139	29	3.55	3.55	NUM
fsr-3246	139	30	%	%	NOUN
fsr-3246	139	31	.	.	PUNCT
fsr-3246	140	1	though	though	SCONJ
fsr-3246	140	2	the	the	DET
fsr-3246	140	3	geometric	geometric	ADJ
fsr-3246	140	4	average	average	ADJ
fsr-3246	140	5	return	return	NOUN
fsr-3246	140	6	over	over	ADP
fsr-3246	140	7	the	the	DET
fsr-3246	140	8	extended	extended	ADJ
fsr-3246	140	9	period	period	NOUN
fsr-3246	140	10	is	be	AUX
fsr-3246	140	11	slightly	slightly	ADV
fsr-3246	140	12	lower	low	ADJ
fsr-3246	140	13	for	for	ADP
fsr-3246	140	14	the	the	DET
fsr-3246	140	15	7	7	NUM
fsr-3246	140	16	%	%	NOUN
fsr-3246	140	17	cap	cap	NOUN
fsr-3246	140	18	eias	eias	PROPN
fsr-3246	140	19	(	(	PUNCT
fsr-3246	140	20	4.11	4.11	NUM
fsr-3246	140	21	%	%	NOUN
fsr-3246	140	22	v.	v.	CCONJ
fsr-3246	140	23	4.29	4.29	NUM
fsr-3246	140	24	%	%	NOUN
fsr-3246	140	25	)	)	PUNCT
fsr-3246	140	26	,	,	PUNCT
fsr-3246	140	27	it	it	PRON
fsr-3246	140	28	nevertheless	nevertheless	ADV
fsr-3246	140	29	exceeds	exceed	VERB
fsr-3246	140	30	that	that	SCONJ
fsr-3246	140	31	on	on	ADP
fsr-3246	140	32	bills	bill	NOUN
fsr-3246	140	33	leading	lead	VERB
fsr-3246	140	34	to	to	ADP
fsr-3246	140	35	a	a	DET
fsr-3246	140	36	positive	positive	ADJ
fsr-3246	140	37	sharpe	sharpe	NOUN
fsr-3246	140	38	ratio	ratio	NOUN
fsr-3246	140	39	.	.	PUNCT
fsr-3246	141	1	the	the	DET
fsr-3246	141	2	estimated	estimate	VERB
fsr-3246	141	3	�	�	PROPN
fsr-3246	141	4	s	s	PART
fsr-3246	141	5	for	for	ADP
fsr-3246	141	6	eias	eia	NOUN
fsr-3246	141	7	over	over	ADP
fsr-3246	141	8	the	the	DET
fsr-3246	141	9	extended	extended	ADJ
fsr-3246	141	10	period	period	NOUN
fsr-3246	141	11	were	be	AUX
fsr-3246	141	12	less	less	ADV
fsr-3246	141	13	negative	negative	ADJ
fsr-3246	141	14	and	and	CCONJ
fsr-3246	141	15	the	the	DET
fsr-3246	141	16	estimated	estimate	VERB
fsr-3246	141	17	�	�	PROPN
fsr-3246	141	18	s	s	PART
fsr-3246	141	19	were	be	AUX
fsr-3246	141	20	essentially	essentially	ADV
fsr-3246	141	21	the	the	DET
fsr-3246	141	22	same	same	ADJ
fsr-3246	141	23	as	as	ADP
fsr-3246	141	24	in	in	ADP
fsr-3246	141	25	reichenstein	reichenstein	NOUN
fsr-3246	141	26	(	(	PUNCT
fsr-3246	141	27	2009	2009	NUM
fsr-3246	141	28	)	)	PUNCT
fsr-3246	141	29	.	.	PUNCT
fsr-3246	142	1	these	these	DET
fsr-3246	142	2	changes	change	NOUN
fsr-3246	142	3	make	make	VERB
fsr-3246	142	4	intuitive	intuitive	ADJ
fsr-3246	142	5	sense	sense	NOUN
fsr-3246	142	6	given	give	VERB
fsr-3246	142	7	the	the	DET
fsr-3246	142	8	inclusion	inclusion	NOUN
fsr-3246	142	9	of	of	ADP
fsr-3246	142	10	several	several	ADJ
fsr-3246	142	11	periods	period	NOUN
fsr-3246	142	12	with	with	ADP
fsr-3246	142	13	negative	negative	ADJ
fsr-3246	142	14	equity	equity	NOUN
fsr-3246	142	15	returns	return	NOUN
fsr-3246	142	16	.	.	PUNCT
fsr-3246	143	1	table	table	NOUN
fsr-3246	143	2	3	3	NUM
fsr-3246	143	3	replication	replication	NOUN
fsr-3246	143	4	and	and	CCONJ
fsr-3246	143	5	extension	extension	NOUN
fsr-3246	143	6	of	of	ADP
fsr-3246	143	7	reichenstein	reichenstein	NOUN
fsr-3246	143	8	(	(	PUNCT
fsr-3246	143	9	2009	2009	NUM
fsr-3246	143	10	)	)	PUNCT
fsr-3246	143	11	asset	asset	NOUN
fsr-3246	143	12	geometric	geometric	ADJ
fsr-3246	143	13	average	average	ADJ
fsr-3246	143	14	annual	annual	ADJ
fsr-3246	143	15	return	return	NOUN
fsr-3246	143	16	ending	end	VERB
fsr-3246	143	17	wealth	wealth	NOUN
fsr-3246	143	18	standard	standard	ADJ
fsr-3246	143	19	deviation	deviation	NOUN
fsr-3246	143	20	sharpe	sharpe	PROPN
fsr-3246	143	21	ratio	ratio	PROPN
fsr-3246	143	22	�	�	PROPN
fsr-3246	143	23	�	�	PROPN
fsr-3246	143	24	1957–2008	1957–2008	PROPN
fsr-3246	143	25	originally	originally	ADV
fsr-3246	143	26	reported	report	VERB
fsr-3246	143	27	by	by	ADP
fsr-3246	143	28	reichenstein	reichenstein	NOUN
fsr-3246	143	29	(	(	PUNCT
fsr-3246	143	30	2009	2009	NUM
fsr-3246	143	31	)	)	PUNCT
fsr-3246	143	32	and	and	CCONJ
fsr-3246	143	33	replicated	replicate	VERB
fsr-3246	143	34	s&p	s&p	PROPN
fsr-3246	143	35	500	500	NUM
fsr-3246	143	36	9.33	9.33	NUM
fsr-3246	143	37	%	%	NOUN
fsr-3246	143	38	$	$	SYM
fsr-3246	143	39	103.43	103.43	NUM
fsr-3246	143	40	17.74	17.74	NUM
fsr-3246	143	41	%	%	NOUN
fsr-3246	143	42	0.31	0.31	NUM
fsr-3246	143	43	0.0	0.0	NUM
fsr-3246	143	44	%	%	NOUN
fsr-3246	143	45	1.00	1.00	NUM
fsr-3246	143	46	treasury	treasury	NOUN
fsr-3246	143	47	bills	bill	NOUN
fsr-3246	143	48	5.27	5.27	NUM
fsr-3246	143	49	%	%	NOUN
fsr-3246	143	50	$	$	SYM
fsr-3246	143	51	14.45	14.45	NUM
fsr-3246	143	52	0	0	NUM
fsr-3246	143	53	0	0	NUM
fsr-3246	143	54	5	5	NUM
fsr-3246	143	55	-	-	PUNCT
fsr-3246	143	56	year	year	NOUN
fsr-3246	143	57	treasury	treasury	NOUN
fsr-3246	143	58	notes	note	VERB
fsr-3246	143	59	7.00	7.00	NUM
fsr-3246	143	60	%	%	NOUN
fsr-3246	143	61	$	$	SYM
fsr-3246	143	62	33.79	33.79	NUM
fsr-3246	143	63	6.02	6.02	NUM
fsr-3246	143	64	%	%	NOUN
fsr-3246	143	65	0.31	0.31	NUM
fsr-3246	143	66	annual	annual	ADJ
fsr-3246	143	67	reset	reset	NOUN
fsr-3246	143	68	7	7	NUM
fsr-3246	143	69	%	%	NOUN
fsr-3246	143	70	cap	cap	NOUN
fsr-3246	143	71	4.29	4.29	NUM
fsr-3246	143	72	%	%	NOUN
fsr-3246	143	73	$	$	SYM
fsr-3246	143	74	8.88	8.88	NUM
fsr-3246	143	75	4.41	4.41	NUM
fsr-3246	143	76	%	%	NOUN
fsr-3246	143	77	�	�	PROPN
fsr-3246	143	78	0.22	0.22	NUM
fsr-3246	143	79	�	�	NOUN
fsr-3246	143	80	1.92	1.92	NUM
fsr-3246	143	81	%	%	NOUN
fsr-3246	143	82	*	*	PROPN
fsr-3246	143	83	0.17	0.17	NUM
fsr-3246	143	84	annual	annual	ADJ
fsr-3246	143	85	reset	reset	NOUN
fsr-3246	143	86	6	6	NUM
fsr-3246	143	87	%	%	NOUN
fsr-3246	143	88	cap	cap	NOUN
fsr-3246	143	89	3.72	3.72	NUM
fsr-3246	143	90	%	%	NOUN
fsr-3246	143	91	$	$	SYM
fsr-3246	143	92	6.70	6.70	NUM
fsr-3246	143	93	4.05	4.05	NUM
fsr-3246	143	94	%	%	NOUN
fsr-3246	143	95	�	�	PROPN
fsr-3246	143	96	0.38	0.38	NUM
fsr-3246	143	97	�	�	PROPN
fsr-3246	143	98	2.37	2.37	NUM
fsr-3246	143	99	%	%	NOUN
fsr-3246	143	100	*	*	PROPN
fsr-3246	143	101	0.15	0.15	NUM
fsr-3246	143	102	annual	annual	ADJ
fsr-3246	143	103	reset	reset	ADJ
fsr-3246	143	104	5	5	NUM
fsr-3246	143	105	%	%	NOUN
fsr-3246	143	106	cap	cap	NOUN
fsr-3246	143	107	3.16	3.16	NUM
fsr-3246	143	108	%	%	NOUN
fsr-3246	143	109	$	$	SYM
fsr-3246	143	110	5.04	5.04	NUM
fsr-3246	143	111	3.73	3.73	NUM
fsr-3246	143	112	%	%	NOUN
fsr-3246	143	113	�	�	PROPN
fsr-3246	143	114	0.57	0.57	NUM
fsr-3246	143	115	�	�	PROPN
fsr-3246	143	116	2.82	2.82	NUM
fsr-3246	143	117	%	%	NOUN
fsr-3246	143	118	*	*	PROPN
fsr-3246	143	119	0.13	0.13	NUM
fsr-3246	143	120	1928–2012	1928–2012	NUM
fsr-3246	143	121	(	(	PUNCT
fsr-3246	143	122	extended	extended	ADJ
fsr-3246	143	123	)	)	PUNCT
fsr-3246	143	124	s&p	s&p	PROPN
fsr-3246	143	125	500	500	NUM
fsr-3246	143	126	9.48	9.48	NUM
fsr-3246	143	127	%	%	NOUN
fsr-3246	143	128	$	$	SYM
fsr-3246	143	129	2,210.14	2,210.14	NUM
fsr-3246	143	130	20.50	20.50	NUM
fsr-3246	143	131	%	%	NOUN
fsr-3246	143	132	0.39	0.39	NUM
fsr-3246	143	133	0.0	0.0	NUM
fsr-3246	143	134	%	%	NOUN
fsr-3246	143	135	1.00	1.00	NUM
fsr-3246	143	136	treasury	treasury	NOUN
fsr-3246	143	137	bills	bill	NOUN
fsr-3246	143	138	3.55	3.55	NUM
fsr-3246	143	139	%	%	NOUN
fsr-3246	143	140	$	$	SYM
fsr-3246	143	141	19.32	19.32	NUM
fsr-3246	143	142	0	0	NUM
fsr-3246	143	143	0	0	NUM
fsr-3246	143	144	5	5	NUM
fsr-3246	143	145	-	-	PUNCT
fsr-3246	143	146	year	year	NOUN
fsr-3246	143	147	treasury	treasury	NOUN
fsr-3246	143	148	notes	note	VERB
fsr-3246	143	149	5.37	5.37	NUM
fsr-3246	143	150	%	%	NOUN
fsr-3246	143	151	$	$	SYM
fsr-3246	143	152	85.35	85.35	NUM
fsr-3246	143	153	5.13	5.13	NUM
fsr-3246	143	154	%	%	NOUN
fsr-3246	143	155	0.38	0.38	NUM
fsr-3246	143	156	annual	annual	ADJ
fsr-3246	143	157	reset	reset	ADJ
fsr-3246	143	158	7	7	NUM
fsr-3246	143	159	%	%	NOUN
fsr-3246	143	160	cap	cap	NOUN
fsr-3246	143	161	4.11	4.11	NUM
fsr-3246	143	162	%	%	NOUN
fsr-3246	143	163	$	$	SYM
fsr-3246	143	164	30.78	30.78	NUM
fsr-3246	143	165	4.58	4.58	NUM
fsr-3246	143	166	%	%	NOUN
fsr-3246	143	167	0.13	0.13	NUM
fsr-3246	143	168	�	�	NOUN
fsr-3246	143	169	0.01	0.01	NUM
fsr-3246	143	170	%	%	NOUN
fsr-3246	143	171	*	*	PUNCT
fsr-3246	143	172	*	*	PUNCT
fsr-3246	143	173	0.16	0.16	NUM
fsr-3246	143	174	annual	annual	ADJ
fsr-3246	143	175	reset	reset	NOUN
fsr-3246	143	176	6	6	NUM
fsr-3246	143	177	%	%	NOUN
fsr-3246	143	178	cap	cap	NOUN
fsr-3246	143	179	3.56	3.56	NUM
fsr-3246	143	180	%	%	NOUN
fsr-3246	143	181	$	$	SYM
fsr-3246	143	182	19.61	19.61	NUM
fsr-3246	143	183	4.23	4.23	NUM
fsr-3246	143	184	%	%	NOUN
fsr-3246	143	185	0.00	0.00	NUM
fsr-3246	143	186	�	�	NOUN
fsr-3246	143	187	1.0	1.0	NUM
fsr-3246	143	188	%	%	NOUN
fsr-3246	143	189	*	*	PROPN
fsr-3246	143	190	0.14	0.14	NUM
fsr-3246	143	191	annual	annual	ADJ
fsr-3246	143	192	reset	reset	ADJ
fsr-3246	143	193	5	5	NUM
fsr-3246	143	194	%	%	NOUN
fsr-3246	143	195	cap	cap	NOUN
fsr-3246	143	196	3.01	3.01	NUM
fsr-3246	143	197	%	%	NOUN
fsr-3246	143	198	$	$	SYM
fsr-3246	143	199	12.44	12.44	NUM
fsr-3246	143	200	3.92	3.92	NUM
fsr-3246	143	201	%	%	NOUN
fsr-3246	143	202	�	�	PROPN
fsr-3246	143	203	0.14	0.14	NUM
fsr-3246	143	204	�	�	PROPN
fsr-3246	143	205	1.5	1.5	NUM
fsr-3246	143	206	%	%	NOUN
fsr-3246	143	207	*	*	NOUN
fsr-3246	143	208	0.12	0.12	NUM
fsr-3246	143	209	*	*	PUNCT
fsr-3246	143	210	significant	significant	ADJ
fsr-3246	143	211	at	at	ADP
fsr-3246	143	212	1	1	NUM
fsr-3246	143	213	%	%	NOUN
fsr-3246	143	214	level	level	NOUN
fsr-3246	143	215	.	.	PUNCT
fsr-3246	144	1	*	*	PUNCT
fsr-3246	144	2	*	*	PUNCT
fsr-3246	144	3	significant	significant	ADJ
fsr-3246	144	4	at	at	ADP
fsr-3246	144	5	10	10	NUM
fsr-3246	144	6	%	%	NOUN
fsr-3246	144	7	level	level	NOUN
fsr-3246	144	8	.	.	PUNCT
fsr-3246	145	1	418	418	NUM
fsr-3246	145	2	a.	a.	NOUN
fsr-3246	145	3	terry	terry	PROPN
fsr-3246	145	4	,	,	PUNCT
fsr-3246	145	5	e.	e.	PROPN
fsr-3246	145	6	elder	elder	PROPN
fsr-3246	145	7	/	/	SYM
fsr-3246	145	8	financial	financial	ADJ
fsr-3246	145	9	services	service	NOUN
fsr-3246	145	10	review	review	VERB
fsr-3246	145	11	24	24	NUM
fsr-3246	145	12	(	(	PUNCT
fsr-3246	145	13	2015	2015	NUM
fsr-3246	145	14	)	)	PUNCT
fsr-3246	145	15	411–428	411–428	NUM
fsr-3246	145	16	second	second	ADJ
fsr-3246	145	17	,	,	PUNCT
fsr-3246	145	18	we	we	PRON
fsr-3246	145	19	create	create	VERB
fsr-3246	145	20	portfolios	portfolio	NOUN
fsr-3246	145	21	consisting	consist	VERB
fsr-3246	145	22	of	of	ADP
fsr-3246	145	23	the	the	DET
fsr-3246	145	24	s&p	s&p	PROPN
fsr-3246	145	25	500	500	NUM
fsr-3246	145	26	and	and	CCONJ
fsr-3246	145	27	treasury	treasury	NOUN
fsr-3246	145	28	bills	bill	NOUN
fsr-3246	145	29	and	and	CCONJ
fsr-3246	145	30	then	then	ADV
fsr-3246	145	31	calculate	calculate	VERB
fsr-3246	145	32	every	every	PRON
fsr-3246	145	33	possible	possible	ADJ
fsr-3246	145	34	11	11	NUM
fsr-3246	145	35	through	through	ADP
fsr-3246	145	36	15	15	NUM
fsr-3246	145	37	-	-	PUNCT
fsr-3246	145	38	year	year	NOUN
fsr-3246	145	39	sequence	sequence	NOUN
fsr-3246	145	40	of	of	ADP
fsr-3246	145	41	returns	return	NOUN
fsr-3246	145	42	that	that	PRON
fsr-3246	145	43	could	could	AUX
fsr-3246	145	44	have	have	AUX
fsr-3246	145	45	been	be	AUX
fsr-3246	145	46	generated	generate	VERB
fsr-3246	145	47	on	on	ADP
fsr-3246	145	48	a	a	DET
fsr-3246	145	49	rolling	rolling	ADJ
fsr-3246	145	50	monthly	monthly	ADJ
fsr-3246	145	51	basis	basis	NOUN
fsr-3246	145	52	during	during	ADP
fsr-3246	145	53	this	this	DET
fsr-3246	145	54	extended	extended	ADJ
fsr-3246	145	55	time	time	NOUN
fsr-3246	145	56	period	period	NOUN
fsr-3246	145	57	.	.	PUNCT
fsr-3246	146	1	we	we	PRON
fsr-3246	146	2	choose	choose	VERB
fsr-3246	146	3	11–15	11–15	NUM
fsr-3246	146	4	year	year	NOUN
fsr-3246	146	5	horizons	horizon	NOUN
fsr-3246	146	6	because	because	SCONJ
fsr-3246	146	7	,	,	PUNCT
fsr-3246	146	8	as	as	SCONJ
fsr-3246	146	9	discussed	discuss	VERB
fsr-3246	146	10	previously	previously	ADV
fsr-3246	146	11	in	in	ADP
fsr-3246	146	12	section	section	NOUN
fsr-3246	146	13	2	2	NUM
fsr-3246	146	14	above	above	ADV
fsr-3246	146	15	,	,	PUNCT
fsr-3246	146	16	eias	eia	NOUN
fsr-3246	146	17	have	have	VERB
fsr-3246	146	18	surrender	surrender	NOUN
fsr-3246	146	19	periods	period	NOUN
fsr-3246	146	20	lasting	last	VERB
fsr-3246	146	21	10	10	NUM
fsr-3246	146	22	years	year	NOUN
fsr-3246	146	23	and	and	CCONJ
fsr-3246	146	24	longer	long	ADJ
fsr-3246	146	25	.	.	PUNCT
fsr-3246	147	1	calculation	calculation	NOUN
fsr-3246	147	2	of	of	ADP
fsr-3246	147	3	shorter	short	ADJ
fsr-3246	147	4	horizon	horizon	NOUN
fsr-3246	147	5	returns	return	NOUN
fsr-3246	147	6	would	would	AUX
fsr-3246	147	7	have	have	VERB
fsr-3246	147	8	to	to	PART
fsr-3246	147	9	account	account	VERB
fsr-3246	147	10	for	for	ADP
fsr-3246	147	11	early	early	ADJ
fsr-3246	147	12	surrender	surrender	NOUN
fsr-3246	147	13	penalties	penalty	NOUN
fsr-3246	147	14	.	.	PUNCT
fsr-3246	148	1	we	we	PRON
fsr-3246	148	2	create	create	VERB
fsr-3246	148	3	equity	equity	NOUN
fsr-3246	148	4	/	/	SYM
fsr-3246	148	5	bill	bill	NOUN
fsr-3246	148	6	(	(	PUNCT
fsr-3246	148	7	eb	eb	NOUN
fsr-3246	148	8	)	)	PUNCT
fsr-3246	148	9	portfolios	portfolio	NOUN
fsr-3246	148	10	having	have	VERB
fsr-3246	148	11	the	the	DET
fsr-3246	148	12	same	same	ADJ
fsr-3246	148	13	systematic	systematic	ADJ
fsr-3246	148	14	risk	risk	NOUN
fsr-3246	148	15	as	as	ADP
fsr-3246	148	16	the	the	DET
fsr-3246	148	17	eias	eia	NOUN
fsr-3246	148	18	.	.	PUNCT
fsr-3246	149	1	therefore	therefore	ADV
fsr-3246	149	2	,	,	PUNCT
fsr-3246	149	3	for	for	ADP
fsr-3246	149	4	example	example	NOUN
fsr-3246	149	5	,	,	PUNCT
fsr-3246	149	6	the	the	DET
fsr-3246	149	7	7	7	NUM
fsr-3246	149	8	%	%	NOUN
fsr-3246	149	9	cap	cap	NOUN
fsr-3246	149	10	eia	eia	PROPN
fsr-3246	149	11	is	be	AUX
fsr-3246	149	12	compared	compare	VERB
fsr-3246	149	13	with	with	ADP
fsr-3246	149	14	an	an	DET
fsr-3246	149	15	eb	eb	PROPN
fsr-3246	149	16	portfolio	portfolio	NOUN
fsr-3246	149	17	consisting	consist	VERB
fsr-3246	149	18	of	of	ADP
fsr-3246	149	19	16	16	NUM
fsr-3246	149	20	%	%	NOUN
fsr-3246	149	21	equity	equity	NOUN
fsr-3246	149	22	and	and	CCONJ
fsr-3246	149	23	84	84	NUM
fsr-3246	149	24	%	%	NOUN
fsr-3246	149	25	bills	bill	NOUN
fsr-3246	149	26	and	and	CCONJ
fsr-3246	149	27	having	have	VERB
fsr-3246	149	28	a	a	DET
fsr-3246	149	29	�	�	NOUN
fsr-3246	149	30	of	of	ADP
fsr-3246	149	31	0.16	0.16	NUM
fsr-3246	149	32	(	(	PUNCT
fsr-3246	149	33	see	see	VERB
fsr-3246	149	34	bottom	bottom	NOUN
fsr-3246	149	35	of	of	ADP
fsr-3246	149	36	table	table	NOUN
fsr-3246	149	37	3	3	NUM
fsr-3246	149	38	)	)	PUNCT
fsr-3246	149	39	.	.	PUNCT
fsr-3246	150	1	similarly	similarly	ADV
fsr-3246	150	2	,	,	PUNCT
fsr-3246	150	3	the	the	DET
fsr-3246	150	4	5	5	NUM
fsr-3246	150	5	%	%	NOUN
fsr-3246	150	6	cap	cap	NOUN
fsr-3246	150	7	eia	eia	PROPN
fsr-3246	150	8	is	be	AUX
fsr-3246	150	9	compared	compare	VERB
fsr-3246	150	10	with	with	ADP
fsr-3246	150	11	an	an	DET
fsr-3246	150	12	eb	eb	PROPN
fsr-3246	150	13	portfolio	portfolio	NOUN
fsr-3246	150	14	consisting	consist	VERB
fsr-3246	150	15	of	of	ADP
fsr-3246	150	16	12	12	NUM
fsr-3246	150	17	%	%	NOUN
fsr-3246	150	18	equity	equity	NOUN
fsr-3246	150	19	and	and	CCONJ
fsr-3246	150	20	88	88	NUM
fsr-3246	150	21	%	%	NOUN
fsr-3246	150	22	bills	bill	NOUN
fsr-3246	150	23	and	and	CCONJ
fsr-3246	150	24	having	have	VERB
fsr-3246	150	25	a	a	DET
fsr-3246	150	26	�	�	NOUN
fsr-3246	150	27	of	of	ADP
fsr-3246	150	28	0.12	0.12	NUM
fsr-3246	150	29	.	.	PUNCT
fsr-3246	151	1	an	an	DET
fsr-3246	151	2	annual	annual	ADJ
fsr-3246	151	3	cost	cost	NOUN
fsr-3246	151	4	ratio	ratio	NOUN
fsr-3246	151	5	of	of	ADP
fsr-3246	151	6	0.3	0.3	NUM
fsr-3246	151	7	%	%	NOUN
fsr-3246	151	8	is	be	AUX
fsr-3246	151	9	deducted	deduct	VERB
fsr-3246	151	10	from	from	ADP
fsr-3246	151	11	the	the	DET
fsr-3246	151	12	s&p	s&p	PROPN
fsr-3246	151	13	500	500	NUM
fsr-3246	151	14	raw	raw	ADJ
fsr-3246	151	15	annual	annual	ADJ
fsr-3246	151	16	return	return	NOUN
fsr-3246	151	17	to	to	PART
fsr-3246	151	18	convert	convert	VERB
fsr-3246	151	19	it	it	PRON
fsr-3246	151	20	to	to	ADP
fsr-3246	151	21	a	a	DET
fsr-3246	151	22	realistic	realistic	ADJ
fsr-3246	151	23	mutual	mutual	ADJ
fsr-3246	151	24	fund	fund	NOUN
fsr-3246	151	25	return	return	NOUN
fsr-3246	151	26	,	,	PUNCT
fsr-3246	151	27	though	though	SCONJ
fsr-3246	151	28	in	in	ADP
fsr-3246	151	29	reality	reality	NOUN
fsr-3246	151	30	annual	annual	ADJ
fsr-3246	151	31	expenses	expense	NOUN
fsr-3246	151	32	and	and	CCONJ
fsr-3246	151	33	trading	trading	NOUN
fsr-3246	151	34	costs	cost	NOUN
fsr-3246	151	35	are	be	AUX
fsr-3246	151	36	currently	currently	ADV
fsr-3246	151	37	closer	close	ADJ
fsr-3246	151	38	to	to	PART
fsr-3246	151	39	0.05	0.05	NUM
fsr-3246	151	40	%	%	NOUN
fsr-3246	151	41	for	for	ADP
fsr-3246	151	42	vanguard	vanguard	NOUN
fsr-3246	151	43	’s	’s	PART
fsr-3246	151	44	s&p	s&p	PROPN
fsr-3246	151	45	500	500	NUM
fsr-3246	151	46	etf	etf	NOUN
fsr-3246	151	47	and	and	CCONJ
fsr-3246	151	48	0.17	0.17	NUM
fsr-3246	151	49	%	%	NOUN
fsr-3246	151	50	for	for	ADP
fsr-3246	151	51	vanguard	vanguard	NOUN
fsr-3246	151	52	’s	’s	PART
fsr-3246	151	53	s&p	s&p	PROPN
fsr-3246	151	54	500	500	NUM
fsr-3246	151	55	index	index	NOUN
fsr-3246	151	56	mutual	mutual	ADJ
fsr-3246	151	57	fund.10	fund.10	NOUN
fsr-3246	151	58	we	we	PRON
fsr-3246	151	59	understand	understand	VERB
fsr-3246	151	60	that	that	SCONJ
fsr-3246	151	61	neither	neither	CCONJ
fsr-3246	151	62	eias	eia	NOUN
fsr-3246	151	63	nor	nor	CCONJ
fsr-3246	151	64	etfs	etfs	PROPN
fsr-3246	151	65	existed	exist	VERB
fsr-3246	151	66	before	before	ADP
fsr-3246	151	67	the	the	DET
fsr-3246	151	68	1990s	1990s	NUM
fsr-3246	151	69	,	,	PUNCT
fsr-3246	151	70	but	but	CCONJ
fsr-3246	151	71	nevertheless	nevertheless	ADV
fsr-3246	151	72	can	can	AUX
fsr-3246	151	73	calculate	calculate	VERB
fsr-3246	151	74	hypothetical	hypothetical	ADJ
fsr-3246	151	75	returns	return	NOUN
fsr-3246	151	76	for	for	ADP
fsr-3246	151	77	those	those	DET
fsr-3246	151	78	products	product	NOUN
fsr-3246	151	79	using	use	VERB
fsr-3246	151	80	the	the	DET
fsr-3246	151	81	returns	return	NOUN
fsr-3246	151	82	generated	generate	VERB
fsr-3246	151	83	by	by	ADP
fsr-3246	151	84	history	history	NOUN
fsr-3246	151	85	.	.	PUNCT
fsr-3246	152	1	third	third	ADJ
fsr-3246	152	2	,	,	PUNCT
fsr-3246	152	3	unlike	unlike	ADP
fsr-3246	152	4	prior	prior	ADJ
fsr-3246	152	5	eia	eia	PROPN
fsr-3246	152	6	research	research	NOUN
fsr-3246	152	7	where	where	SCONJ
fsr-3246	152	8	caps	cap	NOUN
fsr-3246	152	9	are	be	AUX
fsr-3246	152	10	assumed	assume	VERB
fsr-3246	152	11	to	to	PART
fsr-3246	152	12	remain	remain	VERB
fsr-3246	152	13	constant	constant	ADJ
fsr-3246	152	14	over	over	ADP
fsr-3246	152	15	the	the	DET
fsr-3246	152	16	time	time	NOUN
fsr-3246	152	17	period	period	NOUN
fsr-3246	152	18	examined	examine	VERB
fsr-3246	152	19	,	,	PUNCT
fsr-3246	152	20	we	we	PRON
fsr-3246	152	21	allow	allow	VERB
fsr-3246	152	22	cap	cap	NOUN
fsr-3246	152	23	rates	rate	NOUN
fsr-3246	152	24	to	to	PART
fsr-3246	152	25	vary	vary	VERB
fsr-3246	152	26	with	with	ADP
fsr-3246	152	27	interest	interest	NOUN
fsr-3246	152	28	rates	rate	NOUN
fsr-3246	152	29	.	.	PUNCT
fsr-3246	153	1	specifically	specifically	ADV
fsr-3246	153	2	,	,	PUNCT
fsr-3246	153	3	we	we	PRON
fsr-3246	153	4	assume	assume	VERB
fsr-3246	153	5	the	the	DET
fsr-3246	153	6	cap	cap	NOUN
fsr-3246	153	7	rate	rate	NOUN
fsr-3246	153	8	is	be	AUX
fsr-3246	153	9	equal	equal	ADJ
fsr-3246	153	10	to	to	ADP
fsr-3246	153	11	the	the	DET
fsr-3246	153	12	treasury	treasury	NOUN
fsr-3246	153	13	bond	bond	NOUN
fsr-3246	153	14	yield	yield	NOUN
fsr-3246	153	15	plus	plus	CCONJ
fsr-3246	153	16	2.5	2.5	NUM
fsr-3246	153	17	%	%	NOUN
fsr-3246	153	18	.	.	PUNCT
fsr-3246	154	1	as	as	SCONJ
fsr-3246	154	2	explained	explain	VERB
fsr-3246	154	3	in	in	ADP
fsr-3246	154	4	section	section	NOUN
fsr-3246	154	5	2	2	NUM
fsr-3246	154	6	above	above	ADV
fsr-3246	154	7	,	,	PUNCT
fsr-3246	154	8	insurance	insurance	NOUN
fsr-3246	154	9	companies	company	NOUN
fsr-3246	154	10	have	have	VERB
fsr-3246	154	11	the	the	DET
fsr-3246	154	12	option	option	NOUN
fsr-3246	154	13	of	of	ADP
fsr-3246	154	14	changing	change	VERB
fsr-3246	154	15	many	many	ADJ
fsr-3246	154	16	of	of	ADP
fsr-3246	154	17	the	the	DET
fsr-3246	154	18	eia	eia	PROPN
fsr-3246	154	19	contract	contract	NOUN
fsr-3246	154	20	features	feature	VERB
fsr-3246	154	21	after	after	ADP
fsr-3246	154	22	the	the	DET
fsr-3246	154	23	first	first	ADJ
fsr-3246	154	24	year	year	NOUN
fsr-3246	154	25	.	.	PUNCT
fsr-3246	155	1	in	in	ADP
fsr-3246	155	2	particular	particular	ADJ
fsr-3246	155	3	they	they	PRON
fsr-3246	155	4	change	change	VERB
fsr-3246	155	5	the	the	DET
fsr-3246	155	6	participation	participation	NOUN
fsr-3246	155	7	rates	rate	NOUN
fsr-3246	155	8	,	,	PUNCT
fsr-3246	155	9	spreads	spread	NOUN
fsr-3246	155	10	,	,	PUNCT
fsr-3246	155	11	and	and	CCONJ
fsr-3246	155	12	cap	cap	NOUN
fsr-3246	155	13	rates	rate	NOUN
fsr-3246	155	14	to	to	PART
fsr-3246	155	15	maintain	maintain	VERB
fsr-3246	155	16	their	their	PRON
fsr-3246	155	17	investment	investment	NOUN
fsr-3246	155	18	spreads	spread	NOUN
fsr-3246	155	19	.	.	PUNCT
fsr-3246	156	1	because	because	SCONJ
fsr-3246	156	2	our	our	PRON
fsr-3246	156	3	benchmark	benchmark	NOUN
fsr-3246	156	4	eia	eia	NOUN
fsr-3246	156	5	assumes	assume	VERB
fsr-3246	156	6	100	100	NUM
fsr-3246	156	7	%	%	NOUN
fsr-3246	156	8	participation	participation	NOUN
fsr-3246	156	9	and	and	CCONJ
fsr-3246	156	10	no	no	DET
fsr-3246	156	11	spread	spread	NOUN
fsr-3246	156	12	,	,	PUNCT
fsr-3246	156	13	we	we	PRON
fsr-3246	156	14	focus	focus	VERB
fsr-3246	156	15	on	on	ADP
fsr-3246	156	16	changes	change	NOUN
fsr-3246	156	17	in	in	ADP
fsr-3246	156	18	the	the	DET
fsr-3246	156	19	cap	cap	NOUN
fsr-3246	156	20	rate	rate	NOUN
fsr-3246	156	21	.	.	PUNCT
fsr-3246	157	1	insurance	insurance	NOUN
fsr-3246	157	2	companies	company	NOUN
fsr-3246	157	3	change	change	VERB
fsr-3246	157	4	cap	cap	NOUN
fsr-3246	157	5	rates	rate	NOUN
fsr-3246	157	6	in	in	ADP
fsr-3246	157	7	response	response	NOUN
fsr-3246	157	8	to	to	ADP
fsr-3246	157	9	changes	change	NOUN
fsr-3246	157	10	in	in	ADP
fsr-3246	157	11	interest	interest	NOUN
fsr-3246	157	12	rates	rate	NOUN
fsr-3246	157	13	.	.	PUNCT
fsr-3246	158	1	in	in	ADP
fsr-3246	158	2	particular	particular	ADJ
fsr-3246	158	3	,	,	PUNCT
fsr-3246	158	4	when	when	SCONJ
fsr-3246	158	5	interest	interest	NOUN
fsr-3246	158	6	rates	rate	NOUN
fsr-3246	158	7	are	be	AUX
fsr-3246	158	8	higher	high	ADJ
fsr-3246	158	9	and	and	CCONJ
fsr-3246	158	10	their	their	PRON
fsr-3246	158	11	bond	bond	NOUN
fsr-3246	158	12	portfolios	portfolio	NOUN
fsr-3246	158	13	are	be	AUX
fsr-3246	158	14	earning	earn	VERB
fsr-3246	158	15	more	more	ADJ
fsr-3246	158	16	,	,	PUNCT
fsr-3246	158	17	they	they	PRON
fsr-3246	158	18	will	will	AUX
fsr-3246	158	19	raise	raise	VERB
fsr-3246	158	20	cap	cap	NOUN
fsr-3246	158	21	rates	rate	NOUN
fsr-3246	158	22	.	.	PUNCT
fsr-3246	159	1	similarly	similarly	ADV
fsr-3246	159	2	,	,	PUNCT
fsr-3246	159	3	as	as	ADP
fsr-3246	159	4	in	in	ADP
fsr-3246	159	5	recent	recent	ADJ
fsr-3246	159	6	history	history	NOUN
fsr-3246	159	7	,	,	PUNCT
fsr-3246	159	8	when	when	SCONJ
fsr-3246	159	9	interest	interest	NOUN
fsr-3246	159	10	rates	rate	NOUN
fsr-3246	159	11	are	be	AUX
fsr-3246	159	12	low	low	ADJ
fsr-3246	159	13	,	,	PUNCT
fsr-3246	159	14	cap	cap	NOUN
fsr-3246	159	15	rates	rate	NOUN
fsr-3246	159	16	will	will	AUX
fsr-3246	159	17	be	be	AUX
fsr-3246	159	18	lower.11	lower.11	VERB
fsr-3246	159	19	using	use	VERB
fsr-3246	159	20	actual	actual	ADJ
fsr-3246	159	21	total	total	ADJ
fsr-3246	159	22	monthly	monthly	ADJ
fsr-3246	159	23	returns	return	NOUN
fsr-3246	159	24	on	on	ADP
fsr-3246	159	25	the	the	DET
fsr-3246	159	26	s&p	s&p	PROPN
fsr-3246	159	27	500	500	NUM
fsr-3246	159	28	dating	date	VERB
fsr-3246	159	29	back	back	ADV
fsr-3246	159	30	to	to	ADP
fsr-3246	159	31	1928	1928	NUM
fsr-3246	159	32	and	and	CCONJ
fsr-3246	159	33	assuming	assume	VERB
fsr-3246	159	34	an	an	DET
fsr-3246	159	35	annual	annual	ADJ
fsr-3246	159	36	expense	expense	NOUN
fsr-3246	159	37	ratio	ratio	NOUN
fsr-3246	159	38	of	of	ADP
fsr-3246	159	39	0.30	0.30	NUM
fsr-3246	159	40	%	%	NOUN
fsr-3246	159	41	,	,	PUNCT
fsr-3246	159	42	every	every	DET
fsr-3246	159	43	possible	possible	ADJ
fsr-3246	159	44	sequence	sequence	NOUN
fsr-3246	159	45	of	of	ADP
fsr-3246	159	46	rolling	roll	VERB
fsr-3246	159	47	11	11	NUM
fsr-3246	159	48	-	-	PUNCT
fsr-3246	159	49	year	year	NOUN
fsr-3246	159	50	,	,	PUNCT
fsr-3246	159	51	12	12	NUM
fsr-3246	159	52	-	-	PUNCT
fsr-3246	159	53	year	year	NOUN
fsr-3246	159	54	,	,	PUNCT
fsr-3246	159	55	and	and	CCONJ
fsr-3246	159	56	so	so	ADV
fsr-3246	159	57	on	on	ADV
fsr-3246	159	58	through	through	ADP
fsr-3246	159	59	15	15	NUM
fsr-3246	159	60	-	-	PUNCT
fsr-3246	159	61	year	year	NOUN
fsr-3246	159	62	holding	holding	NOUN
fsr-3246	159	63	period	period	NOUN
fsr-3246	159	64	return	return	NOUN
fsr-3246	159	65	,	,	PUNCT
fsr-3246	159	66	beginning	begin	VERB
fsr-3246	159	67	at	at	ADP
fsr-3246	159	68	the	the	DET
fsr-3246	159	69	end	end	NOUN
fsr-3246	159	70	of	of	ADP
fsr-3246	159	71	every	every	DET
fsr-3246	159	72	single	single	ADJ
fsr-3246	159	73	month	month	NOUN
fsr-3246	159	74	,	,	PUNCT
fsr-3246	159	75	was	be	AUX
fsr-3246	159	76	calculated.12	calculated.12	NOUN
fsr-3246	159	77	for	for	ADP
fsr-3246	159	78	example	example	NOUN
fsr-3246	159	79	,	,	PUNCT
fsr-3246	159	80	there	there	PRON
fsr-3246	159	81	were	be	VERB
fsr-3246	159	82	889	889	NUM
fsr-3246	159	83	sequences	sequence	NOUN
fsr-3246	159	84	of	of	ADP
fsr-3246	159	85	rolling	roll	VERB
fsr-3246	159	86	11	11	NUM
fsr-3246	159	87	-	-	PUNCT
fsr-3246	159	88	year	year	NOUN
fsr-3246	159	89	returns	return	NOUN
fsr-3246	159	90	and	and	CCONJ
fsr-3246	159	91	841	841	NUM
fsr-3246	159	92	sequences	sequence	NOUN
fsr-3246	159	93	of	of	ADP
fsr-3246	159	94	rolling	roll	VERB
fsr-3246	159	95	15	15	NUM
fsr-3246	159	96	-	-	PUNCT
fsr-3246	159	97	year	year	NOUN
fsr-3246	159	98	returns	return	NOUN
fsr-3246	159	99	.	.	PUNCT
fsr-3246	160	1	the	the	DET
fsr-3246	160	2	ending	end	VERB
fsr-3246	160	3	value	value	NOUN
fsr-3246	160	4	of	of	ADP
fsr-3246	160	5	a	a	DET
fsr-3246	160	6	$	$	SYM
fsr-3246	160	7	1	1	NUM
fsr-3246	160	8	invested	invest	VERB
fsr-3246	160	9	in	in	ADP
fsr-3246	160	10	the	the	DET
fsr-3246	160	11	hypothetical	hypothetical	ADJ
fsr-3246	160	12	eb	eb	PROPN
fsr-3246	160	13	portfolio	portfolio	PROPN
fsr-3246	160	14	is	be	AUX
fsr-3246	160	15	then	then	ADV
fsr-3246	160	16	compared	compare	VERB
fsr-3246	160	17	with	with	ADP
fsr-3246	160	18	the	the	DET
fsr-3246	160	19	ending	end	VERB
fsr-3246	160	20	value	value	NOUN
fsr-3246	160	21	obtained	obtain	VERB
fsr-3246	160	22	from	from	ADP
fsr-3246	160	23	investing	invest	VERB
fsr-3246	160	24	$	$	SYM
fsr-3246	160	25	1	1	NUM
fsr-3246	160	26	in	in	ADP
fsr-3246	160	27	a	a	DET
fsr-3246	160	28	hypothetical	hypothetical	ADJ
fsr-3246	160	29	eia	eia	NOUN
fsr-3246	160	30	.	.	PUNCT
fsr-3246	161	1	the	the	DET
fsr-3246	161	2	benchmark	benchmark	ADJ
fsr-3246	161	3	eia	eia	PROPN
fsr-3246	161	4	assumes	assume	VERB
fsr-3246	161	5	an	an	DET
fsr-3246	161	6	s&p	s&p	PROPN
fsr-3246	161	7	500	500	NUM
fsr-3246	161	8	index	index	NOUN
fsr-3246	161	9	annual	annual	ADJ
fsr-3246	161	10	point	point	NOUN
fsr-3246	161	11	-	-	PUNCT
fsr-3246	161	12	to	to	ADP
fsr-3246	161	13	-	-	PUNCT
fsr-3246	161	14	point	point	NOUN
fsr-3246	161	15	calculation	calculation	NOUN
fsr-3246	161	16	with	with	ADP
fsr-3246	161	17	caps	cap	NOUN
fsr-3246	161	18	of	of	ADP
fsr-3246	161	19	7	7	NUM
fsr-3246	161	20	%	%	NOUN
fsr-3246	161	21	,	,	PUNCT
fsr-3246	161	22	5	5	NUM
fsr-3246	161	23	%	%	NOUN
fsr-3246	161	24	,	,	PUNCT
fsr-3246	161	25	and	and	CCONJ
fsr-3246	161	26	t	t	NOUN
fsr-3246	161	27	-	-	PUNCT
fsr-3246	161	28	bond	bond	NOUN
fsr-3246	161	29	yield	yield	NOUN
fsr-3246	161	30	�	�	PROPN
fsr-3246	161	31	2.5	2.5	NUM
fsr-3246	161	32	%	%	NOUN
fsr-3246	161	33	,	,	PUNCT
fsr-3246	161	34	respectively	respectively	ADV
fsr-3246	161	35	.	.	PUNCT
fsr-3246	162	1	the	the	DET
fsr-3246	162	2	first	first	ADJ
fsr-3246	162	3	two	two	NUM
fsr-3246	162	4	eia	eia	PROPN
fsr-3246	162	5	calculations	calculation	NOUN
fsr-3246	162	6	assume	assume	VERB
fsr-3246	162	7	that	that	SCONJ
fsr-3246	162	8	the	the	DET
fsr-3246	162	9	same	same	ADJ
fsr-3246	162	10	cap	cap	NOUN
fsr-3246	162	11	remains	remain	VERB
fsr-3246	162	12	in	in	ADP
fsr-3246	162	13	effect	effect	NOUN
fsr-3246	162	14	during	during	ADP
fsr-3246	162	15	the	the	DET
fsr-3246	162	16	entire	entire	ADJ
fsr-3246	162	17	holding	hold	VERB
fsr-3246	162	18	period	period	NOUN
fsr-3246	162	19	.	.	PUNCT
fsr-3246	163	1	for	for	ADP
fsr-3246	163	2	every	every	PRON
fsr-3246	163	3	possible	possible	ADJ
fsr-3246	163	4	11	11	NUM
fsr-3246	163	5	through	through	ADP
fsr-3246	163	6	15	15	NUM
fsr-3246	163	7	-	-	PUNCT
fsr-3246	163	8	year	year	NOUN
fsr-3246	163	9	holding	holding	NOUN
fsr-3246	163	10	period	period	NOUN
fsr-3246	163	11	the	the	DET
fsr-3246	163	12	hypothetical	hypothetical	ADJ
fsr-3246	163	13	eb	eb	PROPN
fsr-3246	163	14	portfolio	portfolio	NOUN
fsr-3246	163	15	ending	end	VERB
fsr-3246	163	16	investment	investment	NOUN
fsr-3246	163	17	value	value	NOUN
fsr-3246	163	18	is	be	AUX
fsr-3246	163	19	divided	divide	VERB
fsr-3246	163	20	by	by	ADP
fsr-3246	163	21	the	the	DET
fsr-3246	163	22	eia	eia	PROPN
fsr-3246	163	23	ending	ending	NOUN
fsr-3246	163	24	value	value	NOUN
fsr-3246	163	25	.	.	PUNCT
fsr-3246	164	1	a	a	DET
fsr-3246	164	2	ratio	ratio	NOUN
fsr-3246	164	3	of	of	ADP
fsr-3246	164	4	1	1	NUM
fsr-3246	164	5	indicates	indicate	VERB
fsr-3246	164	6	the	the	DET
fsr-3246	164	7	two	two	NUM
fsr-3246	164	8	values	value	NOUN
fsr-3246	164	9	are	be	AUX
fsr-3246	164	10	equal	equal	ADJ
fsr-3246	164	11	(	(	PUNCT
fsr-3246	164	12	breakeven	breakeven	NOUN
fsr-3246	164	13	)	)	PUNCT
fsr-3246	164	14	,	,	PUNCT
fsr-3246	164	15	while	while	SCONJ
fsr-3246	164	16	a	a	DET
fsr-3246	164	17	value	value	NOUN
fsr-3246	164	18	greater	great	ADJ
fsr-3246	164	19	than	than	ADP
fsr-3246	164	20	one	one	NUM
fsr-3246	164	21	indicates	indicate	VERB
fsr-3246	164	22	the	the	DET
fsr-3246	164	23	hypothetical	hypothetical	PROPN
fsr-3246	164	24	eb	eb	PROPN
fsr-3246	164	25	portfolio	portfolio	PROPN
fsr-3246	164	26	has	have	VERB
fsr-3246	164	27	a	a	DET
fsr-3246	164	28	higher	high	ADJ
fsr-3246	164	29	value	value	NOUN
fsr-3246	164	30	than	than	ADP
fsr-3246	164	31	the	the	DET
fsr-3246	164	32	eia	eia	NOUN
fsr-3246	164	33	,	,	PUNCT
fsr-3246	164	34	and	and	CCONJ
fsr-3246	164	35	a	a	DET
fsr-3246	164	36	ratio	ratio	NOUN
fsr-3246	164	37	of	of	ADP
fsr-3246	164	38	less	less	ADJ
fsr-3246	164	39	than	than	ADP
fsr-3246	164	40	1	1	NUM
fsr-3246	164	41	indicates	indicate	VERB
fsr-3246	164	42	the	the	DET
fsr-3246	164	43	eb	eb	PROPN
fsr-3246	164	44	portfolio	portfolio	PROPN
fsr-3246	164	45	has	have	VERB
fsr-3246	164	46	a	a	DET
fsr-3246	164	47	lower	low	ADJ
fsr-3246	164	48	value	value	NOUN
fsr-3246	164	49	.	.	PUNCT
fsr-3246	165	1	the	the	DET
fsr-3246	165	2	result	result	NOUN
fsr-3246	165	3	is	be	AUX
fsr-3246	165	4	a	a	DET
fsr-3246	165	5	distribution	distribution	NOUN
fsr-3246	165	6	of	of	ADP
fsr-3246	165	7	every	every	DET
fsr-3246	165	8	possible	possible	ADJ
fsr-3246	165	9	value	value	NOUN
fsr-3246	165	10	comparison	comparison	NOUN
fsr-3246	165	11	(	(	PUNCT
fsr-3246	165	12	ratio	ratio	NOUN
fsr-3246	165	13	)	)	PUNCT
fsr-3246	165	14	that	that	PRON
fsr-3246	165	15	could	could	AUX
fsr-3246	165	16	have	have	AUX
fsr-3246	165	17	been	be	AUX
fsr-3246	165	18	created	create	VERB
fsr-3246	165	19	since	since	SCONJ
fsr-3246	165	20	1928	1928	NUM
fsr-3246	165	21	using	use	VERB
fsr-3246	165	22	actual	actual	ADJ
fsr-3246	165	23	historical	historical	ADJ
fsr-3246	165	24	returns	return	NOUN
fsr-3246	165	25	.	.	PUNCT
fsr-3246	166	1	from	from	ADP
fsr-3246	166	2	this	this	DET
fsr-3246	166	3	distribution	distribution	NOUN
fsr-3246	166	4	percentiles	percentile	NOUN
fsr-3246	166	5	are	be	AUX
fsr-3246	166	6	calculated	calculate	VERB
fsr-3246	166	7	and	and	CCONJ
fsr-3246	166	8	presented	present	VERB
fsr-3246	166	9	.	.	PUNCT
fsr-3246	167	1	the	the	DET
fsr-3246	167	2	percentiles	percentile	NOUN
fsr-3246	167	3	represent	represent	VERB
fsr-3246	167	4	the	the	DET
fsr-3246	167	5	percentage	percentage	NOUN
fsr-3246	167	6	of	of	ADP
fsr-3246	167	7	times	time	NOUN
fsr-3246	167	8	an	an	DET
fsr-3246	167	9	observed	observed	ADJ
fsr-3246	167	10	ratio	ratio	NOUN
fsr-3246	167	11	was	be	AUX
fsr-3246	167	12	less	less	ADJ
fsr-3246	167	13	than	than	ADP
fsr-3246	167	14	(	(	PUNCT
fsr-3246	167	15	greater	great	ADJ
fsr-3246	167	16	than	than	ADP
fsr-3246	167	17	)	)	PUNCT
fsr-3246	167	18	the	the	DET
fsr-3246	167	19	reported	report	VERB
fsr-3246	167	20	ratio	ratio	NOUN
fsr-3246	167	21	for	for	ADP
fsr-3246	167	22	percentiles	percentile	NOUN
fsr-3246	167	23	below	below	ADV
fsr-3246	167	24	(	(	PUNCT
fsr-3246	167	25	above	above	ADV
fsr-3246	167	26	)	)	PUNCT
fsr-3246	167	27	the	the	DET
fsr-3246	167	28	mean	mean	NOUN
fsr-3246	167	29	.	.	PUNCT
fsr-3246	168	1	the	the	DET
fsr-3246	168	2	breakeven	breakeven	PROPN
fsr-3246	168	3	column	column	NOUN
fsr-3246	168	4	represents	represent	VERB
fsr-3246	168	5	the	the	DET
fsr-3246	168	6	percentage	percentage	NOUN
fsr-3246	168	7	of	of	ADP
fsr-3246	168	8	the	the	DET
fsr-3246	168	9	time	time	NOUN
fsr-3246	168	10	the	the	DET
fsr-3246	168	11	eb	eb	PROPN
fsr-3246	168	12	portfolio	portfolio	PROPN
fsr-3246	168	13	fails	fail	VERB
fsr-3246	168	14	to	to	PART
fsr-3246	168	15	outperform	outperform	VERB
fsr-3246	168	16	the	the	DET
fsr-3246	168	17	eia.13	eia.13	PROPN
fsr-3246	168	18	419a	419a	PROPN
fsr-3246	168	19	.	.	PUNCT
fsr-3246	169	1	terry	terry	PROPN
fsr-3246	169	2	,	,	PUNCT
fsr-3246	169	3	e.	e.	PROPN
fsr-3246	169	4	elder	elder	PROPN
fsr-3246	169	5	/	/	SYM
fsr-3246	169	6	financial	financial	ADJ
fsr-3246	169	7	services	service	NOUN
fsr-3246	169	8	review	review	VERB
fsr-3246	169	9	24	24	NUM
fsr-3246	169	10	(	(	PUNCT
fsr-3246	169	11	2015	2015	NUM
fsr-3246	169	12	)	)	PUNCT
fsr-3246	169	13	411–428	411–428	NUM
fsr-3246	169	14	as	as	ADP
fsr-3246	169	15	table	table	NOUN
fsr-3246	169	16	4	4	NUM
fsr-3246	169	17	indicates	indicate	VERB
fsr-3246	169	18	,	,	PUNCT
fsr-3246	169	19	the	the	DET
fsr-3246	169	20	(	(	PUNCT
fsr-3246	169	21	eb	eb	PROPN
fsr-3246	169	22	)	)	PUNCT
fsr-3246	169	23	portfolio	portfolio	NOUN
fsr-3246	169	24	had	have	VERB
fsr-3246	169	25	a	a	DET
fsr-3246	169	26	median	median	ADJ
fsr-3246	169	27	value	value	NOUN
fsr-3246	169	28	that	that	PRON
fsr-3246	169	29	ranged	range	VERB
fsr-3246	169	30	from	from	ADP
fsr-3246	169	31	12	12	NUM
fsr-3246	169	32	%	%	NOUN
fsr-3246	169	33	higher	high	ADJ
fsr-3246	169	34	than	than	ADP
fsr-3246	169	35	a	a	DET
fsr-3246	169	36	7	7	NUM
fsr-3246	169	37	%	%	NOUN
fsr-3246	169	38	cap	cap	NOUN
fsr-3246	169	39	eia	eia	NOUN
fsr-3246	169	40	over	over	ADP
fsr-3246	169	41	an	an	DET
fsr-3246	169	42	11	11	NUM
fsr-3246	169	43	-	-	PUNCT
fsr-3246	169	44	year	year	NOUN
fsr-3246	169	45	horizon	horizon	NOUN
fsr-3246	169	46	to	to	ADP
fsr-3246	169	47	over	over	ADP
fsr-3246	169	48	34	34	NUM
fsr-3246	169	49	%	%	NOUN
fsr-3246	169	50	higher	high	ADJ
fsr-3246	169	51	than	than	ADP
fsr-3246	169	52	a	a	DET
fsr-3246	169	53	5	5	NUM
fsr-3246	169	54	%	%	NOUN
fsr-3246	169	55	cap	cap	NOUN
fsr-3246	169	56	eia	eia	NOUN
fsr-3246	169	57	over	over	ADP
fsr-3246	169	58	a	a	DET
fsr-3246	169	59	15	15	NUM
fsr-3246	169	60	-	-	PUNCT
fsr-3246	169	61	year	year	NOUN
fsr-3246	169	62	horizon	horizon	NOUN
fsr-3246	169	63	.	.	PUNCT
fsr-3246	170	1	at	at	ADP
fsr-3246	170	2	the	the	DET
fsr-3246	170	3	shortest	short	ADJ
fsr-3246	170	4	horizon	horizon	NOUN
fsr-3246	170	5	(	(	PUNCT
fsr-3246	170	6	11	11	NUM
fsr-3246	170	7	year	year	NOUN
fsr-3246	170	8	)	)	PUNCT
fsr-3246	170	9	and	and	CCONJ
fsr-3246	170	10	highest	high	ADJ
fsr-3246	170	11	cap	cap	NOUN
fsr-3246	170	12	(	(	PUNCT
fsr-3246	170	13	7	7	NUM
fsr-3246	170	14	%	%	NOUN
fsr-3246	170	15	)	)	PUNCT
fsr-3246	170	16	the	the	DET
fsr-3246	170	17	eb	eb	PROPN
fsr-3246	170	18	portfolio	portfolio	PROPN
fsr-3246	170	19	was	be	AUX
fsr-3246	170	20	outperformed	outperform	VERB
fsr-3246	170	21	27.4	27.4	NUM
fsr-3246	170	22	%	%	NOUN
fsr-3246	170	23	of	of	ADP
fsr-3246	170	24	the	the	DET
fsr-3246	170	25	time	time	NOUN
fsr-3246	170	26	by	by	ADP
fsr-3246	170	27	the	the	DET
fsr-3246	170	28	eia	eia	PROPN
fsr-3246	170	29	.	.	PUNCT
fsr-3246	171	1	at	at	ADP
fsr-3246	171	2	this	this	DET
fsr-3246	171	3	same	same	ADJ
fsr-3246	171	4	time	time	NOUN
fsr-3246	171	5	horizon	horizon	NOUN
fsr-3246	171	6	and	and	CCONJ
fsr-3246	171	7	cap	cap	NOUN
fsr-3246	171	8	level	level	NOUN
fsr-3246	171	9	,	,	PUNCT
fsr-3246	171	10	the	the	DET
fsr-3246	171	11	eb	eb	PROPN
fsr-3246	171	12	portfolio	portfolio	PROPN
fsr-3246	171	13	returned	return	VERB
fsr-3246	171	14	at	at	ADP
fsr-3246	171	15	least	least	ADV
fsr-3246	171	16	27	27	NUM
fsr-3246	171	17	%	%	NOUN
fsr-3246	171	18	more	more	ADJ
fsr-3246	171	19	than	than	ADP
fsr-3246	171	20	the	the	DET
fsr-3246	171	21	eia	eia	NOUN
fsr-3246	171	22	approximately	approximately	ADV
fsr-3246	171	23	the	the	DET
fsr-3246	171	24	same	same	ADJ
fsr-3246	171	25	percentage	percentage	NOUN
fsr-3246	171	26	of	of	ADP
fsr-3246	171	27	the	the	DET
fsr-3246	171	28	time	time	NOUN
fsr-3246	171	29	.	.	PUNCT
fsr-3246	172	1	at	at	ADP
fsr-3246	172	2	the	the	DET
fsr-3246	172	3	longest	long	ADJ
fsr-3246	172	4	horizon	horizon	NOUN
fsr-3246	172	5	(	(	PUNCT
fsr-3246	172	6	15	15	NUM
fsr-3246	172	7	years	year	NOUN
fsr-3246	172	8	)	)	PUNCT
fsr-3246	172	9	and	and	CCONJ
fsr-3246	172	10	lowest	low	ADJ
fsr-3246	172	11	cap	cap	NOUN
fsr-3246	172	12	(	(	PUNCT
fsr-3246	172	13	5	5	NUM
fsr-3246	172	14	%	%	NOUN
fsr-3246	172	15	)	)	PUNCT
fsr-3246	172	16	the	the	DET
fsr-3246	172	17	eb	eb	PROPN
fsr-3246	172	18	portfolio	portfolio	PROPN
fsr-3246	172	19	was	be	AUX
fsr-3246	172	20	outperformed	outperform	VERB
fsr-3246	172	21	by	by	ADP
fsr-3246	172	22	the	the	DET
fsr-3246	172	23	eia	eia	NOUN
fsr-3246	172	24	only	only	ADV
fsr-3246	172	25	15.7	15.7	NUM
fsr-3246	172	26	%	%	NOUN
fsr-3246	172	27	of	of	ADP
fsr-3246	172	28	the	the	DET
fsr-3246	172	29	time	time	NOUN
fsr-3246	172	30	.	.	PUNCT
fsr-3246	173	1	at	at	ADP
fsr-3246	173	2	this	this	DET
fsr-3246	173	3	same	same	ADJ
fsr-3246	173	4	time	time	NOUN
fsr-3246	173	5	horizon	horizon	NOUN
fsr-3246	173	6	and	and	CCONJ
fsr-3246	173	7	cap	cap	NOUN
fsr-3246	173	8	level	level	PROPN
fsr-3246	173	9	the	the	DET
fsr-3246	173	10	eb	eb	PROPN
fsr-3246	173	11	portfolio	portfolio	PROPN
fsr-3246	173	12	returned	return	VERB
fsr-3246	173	13	at	at	ADP
fsr-3246	173	14	least	least	ADV
fsr-3246	173	15	102	102	NUM
fsr-3246	173	16	%	%	NOUN
fsr-3246	173	17	more	more	ADJ
fsr-3246	173	18	than	than	ADP
fsr-3246	173	19	the	the	DET
fsr-3246	173	20	eia	eia	NOUN
fsr-3246	173	21	over	over	ADP
fsr-3246	173	22	15	15	NUM
fsr-3246	173	23	%	%	NOUN
fsr-3246	173	24	of	of	ADP
fsr-3246	173	25	the	the	DET
fsr-3246	173	26	time	time	NOUN
fsr-3246	173	27	.	.	PUNCT
fsr-3246	174	1	for	for	SCONJ
fsr-3246	174	2	the	the	DET
fsr-3246	174	3	variable	variable	ADJ
fsr-3246	174	4	cap	cap	NOUN
fsr-3246	174	5	eia	eia	VERB
fsr-3246	174	6	the	the	DET
fsr-3246	174	7	mean	mean	ADJ
fsr-3246	174	8	cap	cap	NOUN
fsr-3246	174	9	over	over	ADP
fsr-3246	174	10	the	the	DET
fsr-3246	174	11	time	time	NOUN
fsr-3246	174	12	period	period	NOUN
fsr-3246	174	13	was	be	AUX
fsr-3246	174	14	7.2	7.2	NUM
fsr-3246	174	15	%	%	NOUN
fsr-3246	174	16	,	,	PUNCT
fsr-3246	174	17	with	with	ADP
fsr-3246	174	18	a	a	DET
fsr-3246	174	19	minimum	minimum	ADJ
fsr-3246	174	20	value	value	NOUN
fsr-3246	174	21	of	of	ADP
fsr-3246	174	22	2.6	2.6	NUM
fsr-3246	174	23	%	%	NOUN
fsr-3246	174	24	and	and	CCONJ
fsr-3246	174	25	a	a	DET
fsr-3246	174	26	maximum	maximum	NOUN
fsr-3246	174	27	of	of	ADP
fsr-3246	174	28	18.9	18.9	NUM
fsr-3246	174	29	%	%	NOUN
fsr-3246	174	30	.	.	PUNCT
fsr-3246	175	1	comparing	compare	VERB
fsr-3246	175	2	the	the	DET
fsr-3246	175	3	same	same	ADJ
fsr-3246	175	4	eb	eb	PROPN
fsr-3246	175	5	portfolio	portfolio	NOUN
fsr-3246	175	6	against	against	ADP
fsr-3246	175	7	the	the	DET
fsr-3246	175	8	constant	constant	ADJ
fsr-3246	175	9	7	7	NUM
fsr-3246	175	10	%	%	NOUN
fsr-3246	175	11	cap	cap	NOUN
fsr-3246	175	12	eia	eia	PROPN
fsr-3246	175	13	versus	versus	ADP
fsr-3246	175	14	the	the	DET
fsr-3246	175	15	variable	variable	ADJ
fsr-3246	175	16	cap	cap	NOUN
fsr-3246	175	17	eia	eia	PROPN
fsr-3246	175	18	we	we	PRON
fsr-3246	175	19	find	find	VERB
fsr-3246	175	20	that	that	SCONJ
fsr-3246	175	21	the	the	DET
fsr-3246	175	22	median	median	ADJ
fsr-3246	175	23	wealth	wealth	NOUN
fsr-3246	175	24	ratios	ratio	NOUN
fsr-3246	175	25	are	be	AUX
fsr-3246	175	26	similar	similar	ADJ
fsr-3246	175	27	,	,	PUNCT
fsr-3246	175	28	but	but	CCONJ
fsr-3246	175	29	the	the	DET
fsr-3246	175	30	wealth	wealth	NOUN
fsr-3246	175	31	ratio	ratio	NOUN
fsr-3246	175	32	using	use	VERB
fsr-3246	175	33	the	the	DET
fsr-3246	175	34	variable	variable	ADJ
fsr-3246	175	35	cap	cap	NOUN
fsr-3246	175	36	eia	eia	PROPN
fsr-3246	175	37	has	have	VERB
fsr-3246	175	38	a	a	DET
fsr-3246	175	39	lower	low	ADJ
fsr-3246	175	40	breakeven	breakeven	NOUN
fsr-3246	175	41	of	of	ADP
fsr-3246	175	42	about	about	ADV
fsr-3246	175	43	5	5	NUM
fsr-3246	175	44	%	%	NOUN
fsr-3246	175	45	for	for	ADP
fsr-3246	175	46	all	all	DET
fsr-3246	175	47	holding	hold	VERB
fsr-3246	175	48	periods	period	NOUN
fsr-3246	175	49	,	,	PUNCT
fsr-3246	175	50	indicating	indicate	VERB
fsr-3246	175	51	it	it	PRON
fsr-3246	175	52	outperforms	outperform	VERB
fsr-3246	175	53	5	5	NUM
fsr-3246	175	54	%	%	NOUN
fsr-3246	175	55	fewer	few	ADJ
fsr-3246	175	56	times	time	NOUN
fsr-3246	175	57	.	.	PUNCT
fsr-3246	176	1	thus	thus	ADV
fsr-3246	176	2	,	,	PUNCT
fsr-3246	176	3	the	the	DET
fsr-3246	176	4	constant	constant	ADJ
fsr-3246	176	5	cap	cap	NOUN
fsr-3246	176	6	assumption	assumption	NOUN
fsr-3246	176	7	used	use	VERB
fsr-3246	176	8	in	in	ADP
fsr-3246	176	9	previous	previous	ADJ
fsr-3246	176	10	research	research	NOUN
fsr-3246	176	11	biases	bias	VERB
fsr-3246	176	12	the	the	DET
fsr-3246	176	13	results	result	NOUN
fsr-3246	176	14	in	in	ADP
fsr-3246	176	15	favor	favor	NOUN
fsr-3246	176	16	of	of	ADP
fsr-3246	176	17	eias	eia	NOUN
fsr-3246	176	18	.	.	PUNCT
fsr-3246	177	1	because	because	SCONJ
fsr-3246	177	2	one	one	NUM
fsr-3246	177	3	of	of	ADP
fsr-3246	177	4	the	the	DET
fsr-3246	177	5	selling	selling	NOUN
fsr-3246	177	6	features	feature	NOUN
fsr-3246	177	7	of	of	ADP
fsr-3246	177	8	eias	eias	PROPN
fsr-3246	177	9	is	be	AUX
fsr-3246	177	10	the	the	DET
fsr-3246	177	11	downside	downside	ADJ
fsr-3246	177	12	protection	protection	NOUN
fsr-3246	177	13	,	,	PUNCT
fsr-3246	177	14	table	table	NOUN
fsr-3246	177	15	4	4	NUM
fsr-3246	177	16	also	also	ADV
fsr-3246	177	17	indicates	indicate	VERB
fsr-3246	177	18	the	the	DET
fsr-3246	177	19	percentage	percentage	NOUN
fsr-3246	177	20	of	of	ADP
fsr-3246	177	21	times	time	NOUN
fsr-3246	177	22	the	the	DET
fsr-3246	177	23	eb	eb	PROPN
fsr-3246	177	24	holding	hold	VERB
fsr-3246	177	25	period	period	NOUN
fsr-3246	177	26	return	return	NOUN
fsr-3246	177	27	was	be	AUX
fsr-3246	177	28	negative	negative	ADJ
fsr-3246	177	29	(	(	PUNCT
fsr-3246	177	30	i.e.	i.e.	X
fsr-3246	177	31	,	,	PUNCT
fsr-3246	177	32	ending	end	VERB
fsr-3246	177	33	value	value	NOUN
fsr-3246	177	34	was	be	AUX
fsr-3246	177	35	less	less	ADJ
fsr-3246	177	36	than	than	ADP
fsr-3246	177	37	$	$	SYM
fsr-3246	177	38	1	1	NUM
fsr-3246	177	39	)	)	PUNCT
fsr-3246	177	40	,	,	PUNCT
fsr-3246	177	41	the	the	DET
fsr-3246	177	42	minimum	minimum	ADJ
fsr-3246	177	43	value	value	NOUN
fsr-3246	177	44	of	of	ADP
fsr-3246	177	45	a	a	DET
fsr-3246	177	46	$	$	SYM
fsr-3246	177	47	1	1	NUM
fsr-3246	177	48	investment	investment	NOUN
fsr-3246	177	49	,	,	PUNCT
fsr-3246	177	50	and	and	CCONJ
fsr-3246	177	51	on	on	ADP
fsr-3246	177	52	the	the	DET
fsr-3246	177	53	upside	upside	NOUN
fsr-3246	177	54	,	,	PUNCT
fsr-3246	177	55	the	the	DET
fsr-3246	177	56	value	value	NOUN
fsr-3246	177	57	of	of	ADP
fsr-3246	177	58	a	a	DET
fsr-3246	177	59	$	$	SYM
fsr-3246	177	60	1	1	NUM
fsr-3246	177	61	investment	investment	NOUN
fsr-3246	177	62	at	at	ADP
fsr-3246	177	63	the	the	DET
fsr-3246	177	64	95th	95th	ADJ
fsr-3246	177	65	percentile	percentile	NOUN
fsr-3246	177	66	.	.	PUNCT
fsr-3246	178	1	as	as	SCONJ
fsr-3246	178	2	indicated	indicate	VERB
fsr-3246	178	3	in	in	ADP
fsr-3246	178	4	table	table	NOUN
fsr-3246	178	5	4	4	NUM
fsr-3246	178	6	,	,	PUNCT
fsr-3246	178	7	for	for	ADP
fsr-3246	178	8	14	14	NUM
fsr-3246	178	9	and	and	CCONJ
fsr-3246	178	10	15	15	NUM
fsr-3246	178	11	-	-	PUNCT
fsr-3246	178	12	year	year	NOUN
fsr-3246	178	13	holding	hold	VERB
fsr-3246	178	14	periods	period	NOUN
fsr-3246	178	15	,	,	PUNCT
fsr-3246	178	16	eb	eb	PROPN
fsr-3246	178	17	portfolio	portfolio	NOUN
fsr-3246	178	18	returns	return	NOUN
fsr-3246	178	19	were	be	AUX
fsr-3246	178	20	never	never	ADV
fsr-3246	178	21	less	less	ADJ
fsr-3246	178	22	than	than	ADP
fsr-3246	178	23	0	0	NUM
fsr-3246	178	24	.	.	PUNCT
fsr-3246	179	1	for	for	ADP
fsr-3246	179	2	the	the	DET
fsr-3246	179	3	15	15	NUM
fsr-3246	179	4	-	-	PUNCT
fsr-3246	179	5	year	year	NOUN
fsr-3246	179	6	horizon	horizon	NOUN
fsr-3246	179	7	the	the	DET
fsr-3246	179	8	minimum	minimum	ADJ
fsr-3246	179	9	return	return	NOUN
fsr-3246	179	10	was	be	AUX
fsr-3246	179	11	5	5	NUM
fsr-3246	179	12	%	%	NOUN
fsr-3246	179	13	over	over	ADP
fsr-3246	179	14	all	all	DET
fsr-3246	179	15	three	three	NUM
fsr-3246	179	16	portfolios	portfolio	NOUN
fsr-3246	179	17	.	.	PUNCT
fsr-3246	180	1	the	the	DET
fsr-3246	180	2	far	far	ADV
fsr-3246	180	3	right	right	ADJ
fsr-3246	180	4	column	column	NOUN
fsr-3246	180	5	illustrates	illustrate	VERB
fsr-3246	180	6	that	that	SCONJ
fsr-3246	180	7	5	5	NUM
fsr-3246	180	8	%	%	NOUN
fsr-3246	180	9	of	of	ADP
fsr-3246	180	10	the	the	DET
fsr-3246	180	11	time	time	NOUN
fsr-3246	180	12	table	table	NOUN
fsr-3246	180	13	4	4	NUM
fsr-3246	180	14	ending	end	VERB
fsr-3246	180	15	wealth	wealth	NOUN
fsr-3246	180	16	ratio	ratio	NOUN
fsr-3246	180	17	of	of	ADP
fsr-3246	180	18	s&p	s&p	PROPN
fsr-3246	180	19	index	index	NOUN
fsr-3246	180	20	fund	fund	NOUN
fsr-3246	180	21	equity	equity	NOUN
fsr-3246	180	22	/	/	SYM
fsr-3246	180	23	bill	bill	NOUN
fsr-3246	180	24	(	(	PUNCT
fsr-3246	180	25	eb	eb	PROPN
fsr-3246	180	26	)	)	PUNCT
fsr-3246	180	27	portfolio	portfolio	NOUN
fsr-3246	180	28	to	to	PART
fsr-3246	180	29	eia	eia	PROPN
fsr-3246	180	30	years	year	NOUN
fsr-3246	180	31	percentile	percentile	ADJ
fsr-3246	180	32	�	�	PROPN
fsr-3246	180	33	0.16	0.16	NUM
fsr-3246	180	34	�	�	PROPN
fsr-3246	180	35	portfolio/7	portfolio/7	NUM
fsr-3246	180	36	%	%	NOUN
fsr-3246	180	37	cap	cap	NOUN
fsr-3246	180	38	eia	eia	PROPN
fsr-3246	180	39	eb	eb	PROPN
fsr-3246	180	40	portfolio	portfolio	PROPN
fsr-3246	180	41	value	value	NOUN
fsr-3246	180	42	1	1	NUM
fsr-3246	180	43	5	5	NUM
fsr-3246	180	44	10	10	NUM
fsr-3246	180	45	25	25	NUM
fsr-3246	180	46	50	50	NUM
fsr-3246	180	47	75	75	NUM
fsr-3246	180	48	90	90	NUM
fsr-3246	180	49	95	95	NUM
fsr-3246	180	50	99	99	NUM
fsr-3246	180	51	n	n	CCONJ
fsr-3246	180	52	be	be	AUX
fsr-3246	180	53	�	�	NUM
fsr-3246	180	54	$	$	SYM
fsr-3246	180	55	1	1	NUM
fsr-3246	180	56	min	min	NOUN
fsr-3246	180	57	95th%	95th%	NUM
fsr-3246	180	58	11	11	NUM
fsr-3246	180	59	0.73	0.73	NUM
fsr-3246	180	60	0.79	0.79	NUM
fsr-3246	180	61	0.83	0.83	NUM
fsr-3246	180	62	0.98	0.98	NUM
fsr-3246	180	63	1.12	1.12	NUM
fsr-3246	180	64	1.29	1.29	NUM
fsr-3246	180	65	1.64	1.64	NUM
fsr-3246	180	66	1.76	1.76	NUM
fsr-3246	180	67	1.84	1.84	NUM
fsr-3246	180	68	889	889	NUM
fsr-3246	180	69	27.4	27.4	NUM
fsr-3246	180	70	%	%	NOUN
fsr-3246	180	71	0.6	0.6	NUM
fsr-3246	180	72	%	%	NOUN
fsr-3246	180	73	$	$	SYM
fsr-3246	180	74	0.98	0.98	NUM
fsr-3246	180	75	$	$	SYM
fsr-3246	180	76	2.86	2.86	NUM
fsr-3246	180	77	12	12	NUM
fsr-3246	180	78	0.72	0.72	NUM
fsr-3246	180	79	0.79	0.79	NUM
fsr-3246	180	80	0.84	0.84	NUM
fsr-3246	180	81	0.99	0.99	NUM
fsr-3246	180	82	1.14	1.14	NUM
fsr-3246	180	83	1.34	1.34	NUM
fsr-3246	180	84	1.72	1.72	NUM
fsr-3246	180	85	1.83	1.83	NUM
fsr-3246	180	86	1.92	1.92	NUM
fsr-3246	180	87	877	877	NUM
fsr-3246	180	88	25.8	25.8	NUM
fsr-3246	180	89	%	%	NOUN
fsr-3246	180	90	1.0	1.0	NUM
fsr-3246	180	91	%	%	NOUN
fsr-3246	180	92	$	$	SYM
fsr-3246	180	93	0.97	0.97	NUM
fsr-3246	180	94	$	$	SYM
fsr-3246	180	95	3.15	3.15	NUM
fsr-3246	180	96	13	13	NUM
fsr-3246	180	97	0.73	0.73	NUM
fsr-3246	180	98	0.78	0.78	NUM
fsr-3246	180	99	0.83	0.83	NUM
fsr-3246	180	100	1.01	1.01	NUM
fsr-3246	180	101	1.17	1.17	NUM
fsr-3246	180	102	1.42	1.42	NUM
fsr-3246	180	103	1.76	1.76	NUM
fsr-3246	180	104	1.89	1.89	NUM
fsr-3246	180	105	1.99	1.99	NUM
fsr-3246	180	106	865	865	NUM
fsr-3246	180	107	24.2	24.2	NUM
fsr-3246	180	108	%	%	NOUN
fsr-3246	180	109	0.2	0.2	NUM
fsr-3246	180	110	%	%	NOUN
fsr-3246	180	111	$	$	SYM
fsr-3246	180	112	0.99	0.99	NUM
fsr-3246	180	113	$	$	SYM
fsr-3246	180	114	3.36	3.36	NUM
fsr-3246	180	115	14	14	NUM
fsr-3246	180	116	0.71	0.71	NUM
fsr-3246	180	117	0.78	0.78	NUM
fsr-3246	180	118	0.84	0.84	NUM
fsr-3246	180	119	1.03	1.03	NUM
fsr-3246	180	120	1.20	1.20	NUM
fsr-3246	180	121	1.51	1.51	NUM
fsr-3246	180	122	1.81	1.81	NUM
fsr-3246	180	123	1.95	1.95	NUM
fsr-3246	180	124	2.05	2.05	NUM
fsr-3246	180	125	853	853	NUM
fsr-3246	180	126	23.7	23.7	NUM
fsr-3246	180	127	%	%	NOUN
fsr-3246	180	128	0.0	0.0	NUM
fsr-3246	180	129	%	%	NOUN
fsr-3246	180	130	$	$	SYM
fsr-3246	180	131	1.03	1.03	NUM
fsr-3246	180	132	$	$	SYM
fsr-3246	180	133	3.61	3.61	NUM
fsr-3246	180	134	15	15	NUM
fsr-3246	180	135	0.70	0.70	NUM
fsr-3246	180	136	0.78	0.78	NUM
fsr-3246	180	137	0.86	0.86	NUM
fsr-3246	180	138	1.05	1.05	NUM
fsr-3246	180	139	1.23	1.23	NUM
fsr-3246	180	140	1.60	1.60	NUM
fsr-3246	180	141	1.87	1.87	NUM
fsr-3246	180	142	2.00	2.00	NUM
fsr-3246	180	143	2.10	2.10	NUM
fsr-3246	180	144	841	841	NUM
fsr-3246	180	145	22.2	22.2	NUM
fsr-3246	180	146	%	%	NOUN
fsr-3246	180	147	0.0	0.0	NUM
fsr-3246	180	148	%	%	NOUN
fsr-3246	180	149	$	$	SYM
fsr-3246	180	150	1.05	1.05	NUM
fsr-3246	180	151	$	$	SYM
fsr-3246	180	152	3.96	3.96	NUM
fsr-3246	180	153	percentile	percentile	ADJ
fsr-3246	180	154	�	�	PROPN
fsr-3246	180	155	0.12	0.12	NUM
fsr-3246	180	156	�	�	PROPN
fsr-3246	181	1	portfolio/5	portfolio/5	PROPN
fsr-3246	181	2	%	%	NOUN
fsr-3246	181	3	cap	cap	NOUN
fsr-3246	181	4	eia	eia	PROPN
fsr-3246	181	5	eb	eb	PROPN
fsr-3246	181	6	portfolio	portfolio	PROPN
fsr-3246	181	7	value	value	VERB
fsr-3246	181	8	11	11	NUM
fsr-3246	181	9	0.81	0.81	NUM
fsr-3246	181	10	0.86	0.86	NUM
fsr-3246	181	11	0.90	0.90	NUM
fsr-3246	181	12	1.05	1.05	NUM
fsr-3246	181	13	1.19	1.19	NUM
fsr-3246	181	14	1.42	1.42	NUM
fsr-3246	181	15	1.84	1.84	NUM
fsr-3246	181	16	1.93	1.93	NUM
fsr-3246	181	17	2.01	2.01	NUM
fsr-3246	181	18	889	889	NUM
fsr-3246	181	19	21.5	21.5	NUM
fsr-3246	181	20	%	%	NOUN
fsr-3246	181	21	0.2	0.2	NUM
fsr-3246	181	22	%	%	NOUN
fsr-3246	181	23	$	$	SYM
fsr-3246	181	24	1.00	1.00	NUM
fsr-3246	181	25	$	$	SYM
fsr-3246	181	26	2.78	2.78	NUM
fsr-3246	181	27	12	12	NUM
fsr-3246	181	28	0.81	0.81	NUM
fsr-3246	181	29	0.86	0.86	NUM
fsr-3246	181	30	0.90	0.90	NUM
fsr-3246	181	31	1.08	1.08	NUM
fsr-3246	181	32	1.22	1.22	NUM
fsr-3246	181	33	1.50	1.50	NUM
fsr-3246	181	34	1.93	1.93	NUM
fsr-3246	181	35	2.03	2.03	NUM
fsr-3246	181	36	2.11	2.11	NUM
fsr-3246	181	37	877	877	NUM
fsr-3246	181	38	20.6	20.6	NUM
fsr-3246	181	39	%	%	NOUN
fsr-3246	181	40	0.3	0.3	NUM
fsr-3246	181	41	%	%	NOUN
fsr-3246	181	42	$	$	SYM
fsr-3246	181	43	0.99	0.99	NUM
fsr-3246	181	44	$	$	SYM
fsr-3246	181	45	3.03	3.03	NUM
fsr-3246	181	46	13	13	NUM
fsr-3246	181	47	0.81	0.81	NUM
fsr-3246	181	48	0.86	0.86	NUM
fsr-3246	181	49	0.91	0.91	NUM
fsr-3246	181	50	1.11	1.11	NUM
fsr-3246	181	51	1.26	1.26	NUM
fsr-3246	181	52	1.59	1.59	NUM
fsr-3246	181	53	2.01	2.01	NUM
fsr-3246	181	54	2.11	2.11	NUM
fsr-3246	181	55	2.20	2.20	NUM
fsr-3246	181	56	865	865	NUM
fsr-3246	181	57	18.3	18.3	NUM
fsr-3246	181	58	%	%	NOUN
fsr-3246	181	59	0.0	0.0	NUM
fsr-3246	181	60	%	%	NOUN
fsr-3246	181	61	$	$	SYM
fsr-3246	181	62	1.01	1.01	NUM
fsr-3246	181	63	$	$	SYM
fsr-3246	181	64	3.24	3.24	NUM
fsr-3246	181	65	14	14	NUM
fsr-3246	181	66	0.80	0.80	NUM
fsr-3246	181	67	0.85	0.85	NUM
fsr-3246	181	68	0.91	0.91	NUM
fsr-3246	181	69	1.14	1.14	NUM
fsr-3246	181	70	1.30	1.30	NUM
fsr-3246	181	71	1.70	1.70	NUM
fsr-3246	181	72	2.07	2.07	NUM
fsr-3246	181	73	2.18	2.18	NUM
fsr-3246	181	74	2.27	2.27	NUM
fsr-3246	181	75	853	853	NUM
fsr-3246	181	76	16.5	16.5	NUM
fsr-3246	181	77	%	%	NOUN
fsr-3246	181	78	0.0	0.0	NUM
fsr-3246	181	79	%	%	NOUN
fsr-3246	181	80	$	$	SYM
fsr-3246	181	81	1.04	1.04	NUM
fsr-3246	181	82	$	$	SYM
fsr-3246	181	83	3.47	3.47	NUM
fsr-3246	181	84	15	15	NUM
fsr-3246	181	85	0.78	0.78	NUM
fsr-3246	181	86	0.86	0.86	NUM
fsr-3246	181	87	0.93	0.93	NUM
fsr-3246	181	88	1.16	1.16	NUM
fsr-3246	181	89	1.34	1.34	NUM
fsr-3246	181	90	1.83	1.83	NUM
fsr-3246	181	91	2.15	2.15	NUM
fsr-3246	181	92	2.26	2.26	NUM
fsr-3246	181	93	2.37	2.37	NUM
fsr-3246	181	94	841	841	NUM
fsr-3246	181	95	15.7	15.7	NUM
fsr-3246	181	96	%	%	NOUN
fsr-3246	181	97	0.0	0.0	NUM
fsr-3246	181	98	%	%	NOUN
fsr-3246	181	99	$	$	SYM
fsr-3246	181	100	1.06	1.06	NUM
fsr-3246	181	101	$	$	SYM
fsr-3246	181	102	3.76	3.76	NUM
fsr-3246	181	103	percentile	percentile	ADJ
fsr-3246	181	104	�	�	PROPN
fsr-3246	181	105	0.16	0.16	NUM
fsr-3246	181	106	�	�	PROPN
fsr-3246	181	107	portfolio/(t	portfolio/(t	NOUN
fsr-3246	181	108	-	-	PUNCT
fsr-3246	181	109	bond	bond	NOUN
fsr-3246	181	110	�	�	NOUN
fsr-3246	181	111	2.5	2.5	NUM
fsr-3246	181	112	%	%	NOUN
fsr-3246	181	113	)	)	PUNCT
fsr-3246	181	114	cap	cap	NOUN
fsr-3246	181	115	eia	eia	PROPN
fsr-3246	181	116	eb	eb	PROPN
fsr-3246	181	117	portfolio	portfolio	PROPN
fsr-3246	181	118	value	value	VERB
fsr-3246	181	119	11	11	NUM
fsr-3246	181	120	0.82	0.82	NUM
fsr-3246	181	121	0.87	0.87	NUM
fsr-3246	181	122	0.90	0.90	NUM
fsr-3246	181	123	1.01	1.01	NUM
fsr-3246	181	124	1.11	1.11	NUM
fsr-3246	181	125	1.24	1.24	NUM
fsr-3246	181	126	1.36	1.36	NUM
fsr-3246	181	127	1.41	1.41	NUM
fsr-3246	181	128	1.47	1.47	NUM
fsr-3246	181	129	889	889	NUM
fsr-3246	181	130	22.6	22.6	NUM
fsr-3246	181	131	%	%	NOUN
fsr-3246	181	132	0.6	0.6	NUM
fsr-3246	181	133	%	%	NOUN
fsr-3246	181	134	$	$	SYM
fsr-3246	181	135	0.98	0.98	NUM
fsr-3246	181	136	$	$	SYM
fsr-3246	181	137	2.86	2.86	NUM
fsr-3246	181	138	12	12	NUM
fsr-3246	181	139	0.82	0.82	NUM
fsr-3246	181	140	0.86	0.86	NUM
fsr-3246	181	141	0.90	0.90	NUM
fsr-3246	181	142	1.03	1.03	NUM
fsr-3246	181	143	1.14	1.14	NUM
fsr-3246	181	144	1.27	1.27	NUM
fsr-3246	181	145	1.41	1.41	NUM
fsr-3246	181	146	1.46	1.46	NUM
fsr-3246	181	147	1.52	1.52	NUM
fsr-3246	181	148	877	877	NUM
fsr-3246	181	149	20.3	20.3	NUM
fsr-3246	181	150	%	%	NOUN
fsr-3246	181	151	1.0	1.0	NUM
fsr-3246	181	152	%	%	NOUN
fsr-3246	181	153	$	$	SYM
fsr-3246	181	154	0.97	0.97	NUM
fsr-3246	181	155	$	$	SYM
fsr-3246	181	156	3.15	3.15	NUM
fsr-3246	181	157	13	13	NUM
fsr-3246	181	158	0.83	0.83	NUM
fsr-3246	181	159	0.86	0.86	NUM
fsr-3246	181	160	0.90	0.90	NUM
fsr-3246	181	161	1.04	1.04	NUM
fsr-3246	181	162	1.17	1.17	NUM
fsr-3246	181	163	1.31	1.31	NUM
fsr-3246	181	164	1.45	1.45	NUM
fsr-3246	181	165	1.50	1.50	NUM
fsr-3246	181	166	1.63	1.63	NUM
fsr-3246	181	167	865	865	NUM
fsr-3246	181	168	20.3	20.3	NUM
fsr-3246	181	169	%	%	NOUN
fsr-3246	181	170	0.2	0.2	NUM
fsr-3246	181	171	%	%	NOUN
fsr-3246	181	172	$	$	SYM
fsr-3246	181	173	0.99	0.99	NUM
fsr-3246	182	1	$	$	SYM
fsr-3246	182	2	3.36	3.36	NUM
fsr-3246	182	3	14	14	NUM
fsr-3246	182	4	0.83	0.83	NUM
fsr-3246	182	5	0.86	0.86	NUM
fsr-3246	182	6	0.91	0.91	NUM
fsr-3246	182	7	1.05	1.05	NUM
fsr-3246	182	8	1.19	1.19	NUM
fsr-3246	182	9	1.36	1.36	NUM
fsr-3246	182	10	1.49	1.49	NUM
fsr-3246	182	11	1.56	1.56	NUM
fsr-3246	182	12	1.76	1.76	NUM
fsr-3246	182	13	853	853	NUM
fsr-3246	182	14	19.0	19.0	NUM
fsr-3246	182	15	%	%	NOUN
fsr-3246	182	16	0.0	0.0	NUM
fsr-3246	182	17	%	%	NOUN
fsr-3246	182	18	$	$	SYM
fsr-3246	182	19	1.03	1.03	NUM
fsr-3246	182	20	$	$	SYM
fsr-3246	182	21	3.61	3.61	NUM
fsr-3246	182	22	15	15	NUM
fsr-3246	182	23	0.82	0.82	NUM
fsr-3246	182	24	0.87	0.87	NUM
fsr-3246	182	25	0.92	0.92	NUM
fsr-3246	182	26	1.07	1.07	NUM
fsr-3246	182	27	1.21	1.21	NUM
fsr-3246	182	28	1.39	1.39	NUM
fsr-3246	182	29	1.55	1.55	NUM
fsr-3246	182	30	1.62	1.62	NUM
fsr-3246	182	31	1.76	1.76	NUM
fsr-3246	182	32	841	841	NUM
fsr-3246	182	33	17.4	17.4	NUM
fsr-3246	182	34	%	%	NOUN
fsr-3246	182	35	0.0	0.0	NUM
fsr-3246	182	36	%	%	NOUN
fsr-3246	182	37	$	$	SYM
fsr-3246	182	38	1.05	1.05	NUM
fsr-3246	182	39	$	$	SYM
fsr-3246	182	40	3.96	3.96	NUM
fsr-3246	182	41	be	be	AUX
fsr-3246	182	42	,	,	PUNCT
fsr-3246	182	43	breakeven	breakeven	X
fsr-3246	182	44	percentile	percentile	NOUN
fsr-3246	182	45	(	(	PUNCT
fsr-3246	182	46	percentage	percentage	NOUN
fsr-3246	182	47	of	of	ADP
fsr-3246	182	48	times	times	PROPN
fsr-3246	182	49	wealth	wealth	NOUN
fsr-3246	182	50	ratio	ratio	PROPN
fsr-3246	182	51	�	�	PROPN
fsr-3246	182	52	1	1	NUM
fsr-3246	182	53	)	)	PUNCT
fsr-3246	182	54	.	.	PUNCT
fsr-3246	183	1	420	420	NUM
fsr-3246	183	2	a.	a.	NOUN
fsr-3246	183	3	terry	terry	PROPN
fsr-3246	183	4	,	,	PUNCT
fsr-3246	183	5	e.	e.	PROPN
fsr-3246	183	6	elder	elder	PROPN
fsr-3246	183	7	/	/	SYM
fsr-3246	183	8	financial	financial	ADJ
fsr-3246	183	9	services	service	NOUN
fsr-3246	183	10	review	review	VERB
fsr-3246	183	11	24	24	NUM
fsr-3246	183	12	(	(	PUNCT
fsr-3246	183	13	2015	2015	NUM
fsr-3246	183	14	)	)	PUNCT
fsr-3246	184	1	411–428	411–428	NUM
fsr-3246	184	2	investors	investor	NOUN
fsr-3246	184	3	would	would	AUX
fsr-3246	184	4	have	have	AUX
fsr-3246	184	5	earned	earn	VERB
fsr-3246	184	6	approximately	approximately	ADV
fsr-3246	184	7	3.5	3.5	NUM
fsr-3246	184	8	or	or	CCONJ
fsr-3246	184	9	more	more	ADJ
fsr-3246	184	10	times	time	NOUN
fsr-3246	184	11	their	their	PRON
fsr-3246	184	12	initial	initial	ADJ
fsr-3246	184	13	investment	investment	NOUN
fsr-3246	184	14	over	over	ADP
fsr-3246	184	15	the	the	DET
fsr-3246	184	16	14	14	NUM
fsr-3246	184	17	and	and	CCONJ
fsr-3246	184	18	15	15	NUM
fsr-3246	184	19	-	-	PUNCT
fsr-3246	184	20	year	year	NOUN
fsr-3246	184	21	holding	hold	VERB
fsr-3246	184	22	periods	period	NOUN
fsr-3246	184	23	.	.	PUNCT
fsr-3246	185	1	fig	fig	NOUN
fsr-3246	185	2	.	.	PUNCT
fsr-3246	186	1	1	1	NUM
fsr-3246	186	2	plots	plot	VERB
fsr-3246	186	3	the	the	DET
fsr-3246	186	4	data	datum	NOUN
fsr-3246	186	5	from	from	ADP
fsr-3246	186	6	table	table	NOUN
fsr-3246	186	7	4	4	NUM
fsr-3246	186	8	above	above	ADV
fsr-3246	186	9	for	for	ADP
fsr-3246	186	10	the	the	DET
fsr-3246	186	11	15	15	NUM
fsr-3246	186	12	-	-	PUNCT
fsr-3246	186	13	year	year	NOUN
fsr-3246	186	14	time	time	NOUN
fsr-3246	186	15	horizon	horizon	NOUN
fsr-3246	186	16	.	.	PUNCT
fsr-3246	187	1	for	for	ADP
fsr-3246	187	2	long	long	ADJ
fsr-3246	187	3	horizon	horizon	NOUN
fsr-3246	187	4	investors	investor	NOUN
fsr-3246	187	5	there	there	PRON
fsr-3246	187	6	appears	appear	VERB
fsr-3246	187	7	to	to	PART
fsr-3246	187	8	be	be	AUX
fsr-3246	187	9	a	a	DET
fsr-3246	187	10	significant	significant	ADJ
fsr-3246	187	11	opportunity	opportunity	NOUN
fsr-3246	187	12	cost	cost	NOUN
fsr-3246	187	13	at	at	ADP
fsr-3246	187	14	stake	stake	NOUN
fsr-3246	187	15	for	for	ADP
fsr-3246	187	16	the	the	DET
fsr-3246	187	17	down	down	ADJ
fsr-3246	187	18	-	-	PUNCT
fsr-3246	187	19	side	side	NOUN
fsr-3246	187	20	protection	protection	NOUN
fsr-3246	187	21	provided	provide	VERB
fsr-3246	187	22	by	by	ADP
fsr-3246	187	23	the	the	DET
fsr-3246	187	24	eia	eia	PROPN
fsr-3246	187	25	.	.	PUNCT
fsr-3246	188	1	recall	recall	PROPN
fsr-3246	188	2	that	that	PRON
fsr-3246	188	3	ratios	ratio	NOUN
fsr-3246	188	4	less	less	ADJ
fsr-3246	188	5	than	than	ADP
fsr-3246	188	6	one	one	NUM
fsr-3246	188	7	indicate	indicate	VERB
fsr-3246	188	8	the	the	DET
fsr-3246	188	9	portfolio	portfolio	NOUN
fsr-3246	188	10	was	be	AUX
fsr-3246	188	11	outperformed	outperform	VERB
fsr-3246	188	12	by	by	ADP
fsr-3246	188	13	the	the	DET
fsr-3246	188	14	eia	eia	PROPN
fsr-3246	188	15	,	,	PUNCT
fsr-3246	188	16	not	not	PART
fsr-3246	188	17	that	that	SCONJ
fsr-3246	188	18	the	the	DET
fsr-3246	188	19	portfolio	portfolio	NOUN
fsr-3246	188	20	lost	lose	VERB
fsr-3246	188	21	money	money	NOUN
fsr-3246	188	22	.	.	PUNCT
fsr-3246	189	1	there	there	PRON
fsr-3246	189	2	were	be	VERB
fsr-3246	189	3	no	no	DET
fsr-3246	189	4	negative	negative	ADJ
fsr-3246	189	5	15	15	NUM
fsr-3246	189	6	-	-	PUNCT
fsr-3246	189	7	year	year	NOUN
fsr-3246	189	8	holding	holding	NOUN
fsr-3246	189	9	period	period	NOUN
fsr-3246	189	10	returns	return	NOUN
fsr-3246	189	11	for	for	ADP
fsr-3246	189	12	any	any	PRON
fsr-3246	189	13	of	of	ADP
fsr-3246	189	14	the	the	DET
fsr-3246	189	15	portfolios	portfolio	NOUN
fsr-3246	189	16	.	.	PUNCT
fsr-3246	190	1	the	the	DET
fsr-3246	190	2	worst	bad	ADJ
fsr-3246	190	3	horizon	horizon	NOUN
fsr-3246	190	4	-	-	PUNCT
fsr-3246	190	5	period	period	NOUN
fsr-3246	190	6	performance	performance	NOUN
fsr-3246	190	7	occurred	occur	VERB
fsr-3246	190	8	for	for	ADP
fsr-3246	190	9	the	the	DET
fsr-3246	190	10	12	12	NUM
fsr-3246	190	11	-	-	PUNCT
fsr-3246	190	12	year	year	NOUN
fsr-3246	190	13	horizon	horizon	NOUN
fsr-3246	190	14	,	,	PUNCT
fsr-3246	190	15	0.16	0.16	NUM
fsr-3246	190	16	�	�	PROPN
fsr-3246	190	17	eb	eb	PROPN
fsr-3246	190	18	portfolio	portfolio	NOUN
fsr-3246	190	19	where	where	SCONJ
fsr-3246	190	20	9	9	NUM
fsr-3246	190	21	of	of	ADP
fsr-3246	190	22	877	877	NUM
fsr-3246	190	23	portfolios	portfolio	NOUN
fsr-3246	190	24	(	(	PUNCT
fsr-3246	190	25	1.03	1.03	NUM
fsr-3246	190	26	%	%	NOUN
fsr-3246	190	27	)	)	PUNCT
fsr-3246	190	28	had	have	VERB
fsr-3246	190	29	negative	negative	ADJ
fsr-3246	190	30	returns	return	NOUN
fsr-3246	190	31	,	,	PUNCT
fsr-3246	190	32	with	with	ADP
fsr-3246	190	33	the	the	DET
fsr-3246	190	34	worst	bad	ADJ
fsr-3246	190	35	return	return	NOUN
fsr-3246	190	36	being	be	AUX
fsr-3246	190	37	a	a	DET
fsr-3246	190	38	loss	loss	NOUN
fsr-3246	190	39	of	of	ADP
fsr-3246	190	40	2.7	2.7	NUM
fsr-3246	190	41	%	%	NOUN
fsr-3246	190	42	of	of	ADP
fsr-3246	190	43	the	the	DET
fsr-3246	190	44	initial	initial	ADJ
fsr-3246	190	45	investment	investment	NOUN
fsr-3246	190	46	.	.	PUNCT
fsr-3246	191	1	an	an	DET
fsr-3246	191	2	equivalent	equivalent	ADJ
fsr-3246	191	3	1	1	NUM
fsr-3246	191	4	%	%	NOUN
fsr-3246	191	5	of	of	ADP
fsr-3246	191	6	the	the	DET
fsr-3246	191	7	time	time	NOUN
fsr-3246	191	8	this	this	DET
fsr-3246	191	9	portfolio	portfolio	NOUN
fsr-3246	191	10	would	would	AUX
fsr-3246	191	11	have	have	VERB
fsr-3246	191	12	more	more	ADJ
fsr-3246	191	13	than	than	ADP
fsr-3246	191	14	tripled	triple	VERB
fsr-3246	191	15	an	an	DET
fsr-3246	191	16	investor	investor	NOUN
fsr-3246	191	17	’s	’s	PART
fsr-3246	191	18	money	money	NOUN
fsr-3246	191	19	over	over	ADP
fsr-3246	191	20	a	a	DET
fsr-3246	191	21	12	12	NUM
fsr-3246	191	22	-	-	PUNCT
fsr-3246	191	23	year	year	NOUN
fsr-3246	191	24	horizon	horizon	NOUN
fsr-3246	191	25	.	.	PUNCT
fsr-3246	192	1	while	while	SCONJ
fsr-3246	192	2	previous	previous	ADJ
fsr-3246	192	3	studies	study	NOUN
fsr-3246	192	4	simply	simply	ADV
fsr-3246	192	5	compared	compare	VERB
fsr-3246	192	6	eias	eia	NOUN
fsr-3246	192	7	with	with	ADP
fsr-3246	192	8	an	an	DET
fsr-3246	192	9	investment	investment	NOUN
fsr-3246	192	10	in	in	ADP
fsr-3246	192	11	the	the	DET
fsr-3246	192	12	s&p	s&p	PROPN
fsr-3246	192	13	500	500	NUM
fsr-3246	192	14	or	or	CCONJ
fsr-3246	192	15	mixture	mixture	NOUN
fsr-3246	192	16	of	of	ADP
fsr-3246	192	17	the	the	DET
fsr-3246	192	18	s&p	s&p	PROPN
fsr-3246	192	19	500	500	NUM
fsr-3246	192	20	and	and	CCONJ
fsr-3246	192	21	treasury	treasury	PROPN
fsr-3246	192	22	securities	security	NOUN
fsr-3246	192	23	,	,	PUNCT
fsr-3246	192	24	reichenstein	reichenstein	NOUN
fsr-3246	192	25	(	(	PUNCT
fsr-3246	192	26	2009	2009	NUM
fsr-3246	192	27	)	)	PUNCT
fsr-3246	192	28	was	be	AUX
fsr-3246	192	29	the	the	DET
fsr-3246	192	30	first	first	ADJ
fsr-3246	192	31	to	to	PART
fsr-3246	192	32	analyze	analyze	VERB
fsr-3246	192	33	eias	eia	NOUN
fsr-3246	192	34	on	on	ADP
fsr-3246	192	35	a	a	DET
fsr-3246	192	36	capm	capm	PROPN
fsr-3246	192	37	systematic	systematic	ADJ
fsr-3246	192	38	risk	risk	NOUN
fsr-3246	192	39	-	-	PUNCT
fsr-3246	192	40	adjusted	adjust	VERB
fsr-3246	192	41	basis	basis	NOUN
fsr-3246	192	42	.	.	PUNCT
fsr-3246	193	1	however	however	ADV
fsr-3246	193	2	,	,	PUNCT
fsr-3246	193	3	his	his	PRON
fsr-3246	193	4	capm	capm	PROPN
fsr-3246	193	5	risk	risk	NOUN
fsr-3246	193	6	-	-	PUNCT
fsr-3246	193	7	adjusted	adjust	VERB
fsr-3246	193	8	approach	approach	NOUN
fsr-3246	193	9	does	do	AUX
fsr-3246	193	10	not	not	PART
fsr-3246	193	11	explicitly	explicitly	ADV
fsr-3246	193	12	take	take	VERB
fsr-3246	193	13	into	into	ADP
fsr-3246	193	14	account	account	NOUN
fsr-3246	193	15	one	one	NUM
fsr-3246	193	16	of	of	ADP
fsr-3246	193	17	the	the	DET
fsr-3246	193	18	major	major	ADJ
fsr-3246	193	19	features	feature	NOUN
fsr-3246	193	20	of	of	ADP
fsr-3246	193	21	an	an	DET
fsr-3246	193	22	eia	eia	NOUN
fsr-3246	193	23	which	which	PRON
fsr-3246	193	24	is	be	AUX
fsr-3246	193	25	the	the	DET
fsr-3246	193	26	downside	downside	ADJ
fsr-3246	193	27	protection	protection	NOUN
fsr-3246	193	28	against	against	ADP
fsr-3246	193	29	negative	negative	ADJ
fsr-3246	193	30	returns	return	NOUN
fsr-3246	193	31	.	.	PUNCT
fsr-3246	194	1	this	this	PRON
fsr-3246	194	2	is	be	AUX
fsr-3246	194	3	a	a	DET
fsr-3246	194	4	significant	significant	ADJ
fsr-3246	194	5	selling	selling	NOUN
fsr-3246	194	6	point	point	NOUN
fsr-3246	194	7	and	and	CCONJ
fsr-3246	194	8	may	may	AUX
fsr-3246	194	9	be	be	AUX
fsr-3246	194	10	very	very	ADV
fsr-3246	194	11	valuable	valuable	ADJ
fsr-3246	194	12	to	to	ADP
fsr-3246	194	13	a	a	DET
fsr-3246	194	14	set	set	NOUN
fsr-3246	194	15	of	of	ADP
fsr-3246	194	16	extremely	extremely	ADV
fsr-3246	194	17	risk	risk	VERB
fsr-3246	194	18	averse	averse	ADJ
fsr-3246	194	19	investors	investor	NOUN
fsr-3246	194	20	.	.	PUNCT
fsr-3246	195	1	however	however	ADV
fsr-3246	195	2	,	,	PUNCT
fsr-3246	195	3	as	as	SCONJ
fsr-3246	195	4	just	just	ADV
fsr-3246	195	5	discussed	discuss	VERB
fsr-3246	195	6	above	above	ADV
fsr-3246	195	7	,	,	PUNCT
fsr-3246	195	8	the	the	DET
fsr-3246	195	9	most	most	ADV
fsr-3246	195	10	severe	severe	ADJ
fsr-3246	195	11	loss	loss	NOUN
fsr-3246	195	12	for	for	ADP
fsr-3246	195	13	an	an	DET
fsr-3246	195	14	investor	investor	NOUN
fsr-3246	195	15	in	in	ADP
fsr-3246	195	16	the	the	DET
fsr-3246	195	17	�	�	PROPN
fsr-3246	195	18	adjusted	adjust	VERB
fsr-3246	195	19	eb	eb	PROPN
fsr-3246	195	20	portfolio	portfolio	PROPN
fsr-3246	195	21	was	be	AUX
fsr-3246	195	22	2.3	2.3	NUM
fsr-3246	195	23	%	%	NOUN
fsr-3246	195	24	over	over	ADP
fsr-3246	195	25	a	a	DET
fsr-3246	195	26	12	12	NUM
fsr-3246	195	27	-	-	PUNCT
fsr-3246	195	28	year	year	NOUN
fsr-3246	195	29	horizon	horizon	NOUN
fsr-3246	195	30	,	,	PUNCT
fsr-3246	195	31	and	and	CCONJ
fsr-3246	195	32	there	there	PRON
fsr-3246	195	33	were	be	VERB
fsr-3246	195	34	no	no	DET
fsr-3246	195	35	negative	negative	ADJ
fsr-3246	195	36	horizon	horizon	NOUN
fsr-3246	195	37	period	period	NOUN
fsr-3246	195	38	returns	return	NOUN
fsr-3246	195	39	for	for	ADP
fsr-3246	195	40	any	any	PRON
fsr-3246	195	41	of	of	ADP
fsr-3246	195	42	the	the	DET
fsr-3246	195	43	�	�	PROPN
fsr-3246	195	44	adjusted	adjust	VERB
fsr-3246	195	45	eb	eb	PROPN
fsr-3246	195	46	portfolios	portfolio	NOUN
fsr-3246	195	47	over	over	ADP
fsr-3246	195	48	14	14	NUM
fsr-3246	195	49	or	or	CCONJ
fsr-3246	195	50	15	15	NUM
fsr-3246	195	51	-	-	PUNCT
fsr-3246	195	52	year	year	NOUN
fsr-3246	195	53	horizons	horizon	NOUN
fsr-3246	195	54	.	.	PUNCT
fsr-3246	196	1	therefore	therefore	ADV
fsr-3246	196	2	,	,	PUNCT
fsr-3246	196	3	while	while	SCONJ
fsr-3246	196	4	negative	negative	ADJ
fsr-3246	196	5	returns	return	NOUN
fsr-3246	196	6	were	be	AUX
fsr-3246	196	7	still	still	ADV
fsr-3246	196	8	possible	possible	ADJ
fsr-3246	196	9	in	in	ADP
fsr-3246	196	10	any	any	DET
fsr-3246	196	11	given	give	VERB
fsr-3246	196	12	year(s	year(s	PROPN
fsr-3246	196	13	)	)	PUNCT
fsr-3246	196	14	,	,	PUNCT
fsr-3246	196	15	they	they	PRON
fsr-3246	196	16	occurred	occur	VERB
fsr-3246	196	17	very	very	ADV
fsr-3246	196	18	rarely	rarely	ADV
fsr-3246	196	19	over	over	ADP
fsr-3246	196	20	long	long	ADJ
fsr-3246	196	21	horizons	horizon	NOUN
fsr-3246	196	22	.	.	PUNCT
fsr-3246	197	1	fig	fig	NOUN
fsr-3246	197	2	.	.	PUNCT
fsr-3246	198	1	1	1	X
fsr-3246	198	2	.	.	X
fsr-3246	198	3	ratio	ratio	NOUN
fsr-3246	198	4	of	of	ADP
fsr-3246	198	5	�	�	PROPN
fsr-3246	198	6	adjusted	adjust	VERB
fsr-3246	198	7	equity	equity	NOUN
fsr-3246	198	8	/	/	SYM
fsr-3246	198	9	bill	bill	NOUN
fsr-3246	198	10	(	(	PUNCT
fsr-3246	198	11	eb	eb	PROPN
fsr-3246	198	12	)	)	PUNCT
fsr-3246	198	13	portfolio	portfolio	NOUN
fsr-3246	198	14	to	to	ADP
fsr-3246	198	15	equity	equity	NOUN
fsr-3246	198	16	indexed	index	VERB
fsr-3246	198	17	annuities	annuity	NOUN
fsr-3246	198	18	(	(	PUNCT
fsr-3246	198	19	eia	eia	PROPN
fsr-3246	198	20	)	)	PUNCT
fsr-3246	198	21	over	over	ADP
fsr-3246	198	22	15	15	NUM
fsr-3246	198	23	year	year	NOUN
fsr-3246	198	24	horizon	horizon	NOUN
fsr-3246	198	25	.	.	PUNCT
fsr-3246	199	1	421a	421a	NOUN
fsr-3246	199	2	.	.	PUNCT
fsr-3246	200	1	terry	terry	PROPN
fsr-3246	200	2	,	,	PUNCT
fsr-3246	200	3	e.	e.	PROPN
fsr-3246	200	4	elder	elder	PROPN
fsr-3246	200	5	/	/	SYM
fsr-3246	200	6	financial	financial	ADJ
fsr-3246	200	7	services	service	NOUN
fsr-3246	200	8	review	review	VERB
fsr-3246	200	9	24	24	NUM
fsr-3246	200	10	(	(	PUNCT
fsr-3246	200	11	2015	2015	NUM
fsr-3246	200	12	)	)	PUNCT
fsr-3246	201	1	411–428	411–428	NUM
fsr-3246	201	2	5	5	NUM
fsr-3246	201	3	.	.	PUNCT
fsr-3246	201	4	further	further	ADJ
fsr-3246	201	5	extension	extension	NOUN
fsr-3246	201	6	:	:	PUNCT
fsr-3246	201	7	option	option	NOUN
fsr-3246	201	8	strategies	strategy	NOUN
fsr-3246	201	9	to	to	PART
fsr-3246	201	10	further	far	ADV
fsr-3246	201	11	extend	extend	VERB
fsr-3246	201	12	some	some	PRON
fsr-3246	201	13	of	of	ADP
fsr-3246	201	14	the	the	DET
fsr-3246	201	15	previous	previous	ADJ
fsr-3246	201	16	research	research	NOUN
fsr-3246	201	17	,	,	PUNCT
fsr-3246	201	18	we	we	PRON
fsr-3246	201	19	also	also	ADV
fsr-3246	201	20	modeled	model	VERB
fsr-3246	201	21	the	the	DET
fsr-3246	201	22	optionality	optionality	NOUN
fsr-3246	201	23	aspects	aspect	NOUN
fsr-3246	201	24	of	of	ADP
fsr-3246	201	25	an	an	DET
fsr-3246	201	26	eia	eia	NOUN
fsr-3246	201	27	.	.	PUNCT
fsr-3246	202	1	the	the	DET
fsr-3246	202	2	downside	downside	ADJ
fsr-3246	202	3	protection	protection	NOUN
fsr-3246	202	4	feature	feature	NOUN
fsr-3246	202	5	of	of	ADP
fsr-3246	202	6	eias	eia	NOUN
fsr-3246	202	7	motivates	motivate	VERB
fsr-3246	202	8	comparing	compare	VERB
fsr-3246	202	9	the	the	DET
fsr-3246	202	10	performance	performance	NOUN
fsr-3246	202	11	of	of	ADP
fsr-3246	202	12	eias	eia	NOUN
fsr-3246	202	13	not	not	PART
fsr-3246	202	14	with	with	ADP
fsr-3246	202	15	portfolios	portfolio	NOUN
fsr-3246	202	16	having	have	VERB
fsr-3246	202	17	the	the	DET
fsr-3246	202	18	same	same	ADJ
fsr-3246	202	19	systematic	systematic	ADJ
fsr-3246	202	20	risk	risk	NOUN
fsr-3246	202	21	,	,	PUNCT
fsr-3246	202	22	but	but	CCONJ
fsr-3246	202	23	rather	rather	ADV
fsr-3246	202	24	with	with	ADP
fsr-3246	202	25	investment	investment	NOUN
fsr-3246	202	26	alternatives	alternative	NOUN
fsr-3246	202	27	that	that	PRON
fsr-3246	202	28	include	include	VERB
fsr-3246	202	29	both	both	PRON
fsr-3246	202	30	downside	downside	ADJ
fsr-3246	202	31	protection	protection	NOUN
fsr-3246	202	32	and	and	CCONJ
fsr-3246	202	33	upside	upside	ADJ
fsr-3246	202	34	potential	potential	NOUN
fsr-3246	202	35	.	.	PUNCT
fsr-3246	203	1	thus	thus	ADV
fsr-3246	203	2	,	,	PUNCT
fsr-3246	203	3	a	a	DET
fsr-3246	203	4	simple	simple	ADJ
fsr-3246	203	5	first	first	ADJ
fsr-3246	203	6	strategy	strategy	NOUN
fsr-3246	203	7	consists	consist	VERB
fsr-3246	203	8	of	of	ADP
fsr-3246	203	9	buying	buy	VERB
fsr-3246	203	10	the	the	DET
fsr-3246	203	11	s&p	s&p	PROPN
fsr-3246	203	12	500	500	NUM
fsr-3246	203	13	and	and	CCONJ
fsr-3246	203	14	buying	buy	VERB
fsr-3246	203	15	an	an	DET
fsr-3246	203	16	at	at	ADP
fsr-3246	203	17	-	-	PUNCT
fsr-3246	203	18	the	the	DET
fsr-3246	203	19	-	-	PUNCT
fsr-3246	203	20	money	money	NOUN
fsr-3246	203	21	put	put	NOUN
fsr-3246	203	22	option	option	NOUN
fsr-3246	203	23	,	,	PUNCT
fsr-3246	203	24	that	that	ADV
fsr-3246	203	25	is	is	ADV
fsr-3246	203	26	,	,	PUNCT
fsr-3246	203	27	portfolio	portfolio	NOUN
fsr-3246	203	28	insurance	insurance	NOUN
fsr-3246	203	29	.	.	PUNCT
fsr-3246	204	1	second	second	ADJ
fsr-3246	204	2	,	,	PUNCT
fsr-3246	204	3	the	the	DET
fsr-3246	204	4	payoff	payoff	NOUN
fsr-3246	204	5	for	for	ADP
fsr-3246	204	6	an	an	DET
fsr-3246	204	7	eia	eia	NOUN
fsr-3246	204	8	can	can	AUX
fsr-3246	204	9	be	be	AUX
fsr-3246	204	10	replicated	replicate	VERB
fsr-3246	204	11	with	with	ADP
fsr-3246	204	12	call	call	NOUN
fsr-3246	204	13	options	option	NOUN
fsr-3246	204	14	.	.	PUNCT
fsr-3246	205	1	for	for	ADP
fsr-3246	205	2	example	example	NOUN
fsr-3246	205	3	,	,	PUNCT
fsr-3246	205	4	an	an	DET
fsr-3246	205	5	annual	annual	ADJ
fsr-3246	205	6	reset	reset	NOUN
fsr-3246	205	7	eia	eia	NOUN
fsr-3246	205	8	with	with	ADP
fsr-3246	205	9	a	a	DET
fsr-3246	205	10	7	7	NUM
fsr-3246	205	11	%	%	NOUN
fsr-3246	205	12	cap	cap	NOUN
fsr-3246	205	13	will	will	AUX
fsr-3246	205	14	have	have	VERB
fsr-3246	205	15	a	a	DET
fsr-3246	205	16	return	return	NOUN
fsr-3246	205	17	in	in	ADP
fsr-3246	205	18	any	any	DET
fsr-3246	205	19	one	one	NUM
fsr-3246	205	20	year	year	NOUN
fsr-3246	205	21	equal	equal	ADJ
fsr-3246	205	22	to	to	ADP
fsr-3246	205	23	the	the	DET
fsr-3246	205	24	maximum	maximum	NOUN
fsr-3246	205	25	of	of	ADP
fsr-3246	205	26	the	the	DET
fsr-3246	205	27	price	price	NOUN
fsr-3246	205	28	appreciation	appreciation	NOUN
fsr-3246	205	29	on	on	ADP
fsr-3246	205	30	the	the	DET
fsr-3246	205	31	s&p	s&p	PROPN
fsr-3246	205	32	500	500	NUM
fsr-3246	205	33	up	up	ADP
fsr-3246	205	34	to	to	PART
fsr-3246	205	35	7	7	NUM
fsr-3246	205	36	%	%	NOUN
fsr-3246	205	37	,	,	PUNCT
fsr-3246	205	38	and	and	CCONJ
fsr-3246	205	39	0	0	NUM
fsr-3246	205	40	.	.	PUNCT
fsr-3246	206	1	thus	thus	ADV
fsr-3246	206	2	,	,	PUNCT
fsr-3246	206	3	the	the	DET
fsr-3246	206	4	exact	exact	ADJ
fsr-3246	206	5	return	return	NOUN
fsr-3246	206	6	from	from	ADP
fsr-3246	206	7	an	an	DET
fsr-3246	206	8	eia	eia	NOUN
fsr-3246	206	9	can	can	AUX
fsr-3246	206	10	be	be	AUX
fsr-3246	206	11	replicated	replicate	VERB
fsr-3246	206	12	by	by	ADP
fsr-3246	206	13	buying	buy	VERB
fsr-3246	206	14	an	an	DET
fsr-3246	206	15	at	at	ADP
fsr-3246	206	16	-	-	PUNCT
fsr-3246	206	17	the	the	DET
fsr-3246	206	18	-	-	PUNCT
fsr-3246	206	19	money	money	NOUN
fsr-3246	206	20	call	call	NOUN
fsr-3246	206	21	option	option	NOUN
fsr-3246	206	22	and	and	CCONJ
fsr-3246	206	23	writing	write	VERB
fsr-3246	206	24	a	a	DET
fsr-3246	206	25	call	call	NOUN
fsr-3246	206	26	option	option	NOUN
fsr-3246	206	27	that	that	PRON
fsr-3246	206	28	is	be	AUX
fsr-3246	206	29	(	(	PUNCT
fsr-3246	206	30	1	1	NUM
fsr-3246	206	31	�	�	PROPN
fsr-3246	206	32	cap	cap	NOUN
fsr-3246	206	33	%	%	NOUN
fsr-3246	206	34	)	)	PUNCT
fsr-3246	206	35	out	out	ADP
fsr-3246	206	36	of	of	ADP
fsr-3246	206	37	the	the	DET
fsr-3246	206	38	money	money	NOUN
fsr-3246	206	39	.	.	PUNCT
fsr-3246	207	1	this	this	DET
fsr-3246	207	2	second	second	ADJ
fsr-3246	207	3	strategy	strategy	NOUN
fsr-3246	207	4	consists	consist	VERB
fsr-3246	207	5	of	of	ADP
fsr-3246	207	6	buying	buy	VERB
fsr-3246	207	7	an	an	DET
fsr-3246	207	8	at	at	ADP
fsr-3246	207	9	-	-	PUNCT
fsr-3246	207	10	the	the	DET
fsr-3246	207	11	-	-	PUNCT
fsr-3246	207	12	money	money	NOUN
fsr-3246	207	13	call	call	NOUN
fsr-3246	207	14	option	option	NOUN
fsr-3246	207	15	on	on	ADP
fsr-3246	207	16	the	the	DET
fsr-3246	207	17	s&p	s&p	PROPN
fsr-3246	207	18	500	500	NUM
fsr-3246	207	19	,	,	PUNCT
fsr-3246	207	20	writing	write	VERB
fsr-3246	207	21	a	a	DET
fsr-3246	207	22	call	call	NOUN
fsr-3246	207	23	option	option	NOUN
fsr-3246	207	24	on	on	ADP
fsr-3246	207	25	the	the	DET
fsr-3246	207	26	s&p	s&p	PROPN
fsr-3246	207	27	500	500	NUM
fsr-3246	207	28	that	that	PRON
fsr-3246	207	29	is	be	AUX
fsr-3246	207	30	(	(	PUNCT
fsr-3246	207	31	1	1	NUM
fsr-3246	207	32	�	�	PROPN
fsr-3246	207	33	cap%	cap%	NOUN
fsr-3246	207	34	)	)	PUNCT
fsr-3246	207	35	out	out	ADP
fsr-3246	207	36	of	of	ADP
fsr-3246	207	37	the	the	DET
fsr-3246	207	38	money	money	NOUN
fsr-3246	207	39	,	,	PUNCT
fsr-3246	207	40	and	and	CCONJ
fsr-3246	207	41	investing	invest	VERB
fsr-3246	207	42	the	the	DET
fsr-3246	207	43	remainder	remainder	NOUN
fsr-3246	207	44	at	at	ADP
fsr-3246	207	45	the	the	DET
fsr-3246	207	46	5	5	NUM
fsr-3246	207	47	-	-	PUNCT
fsr-3246	207	48	year	year	NOUN
fsr-3246	207	49	treasury	treasury	NOUN
fsr-3246	207	50	yield	yield	NOUN
fsr-3246	207	51	.	.	PUNCT
fsr-3246	208	1	we	we	PRON
fsr-3246	208	2	estimate	estimate	VERB
fsr-3246	208	3	option	option	NOUN
fsr-3246	208	4	values	value	NOUN
fsr-3246	208	5	using	use	VERB
fsr-3246	208	6	the	the	DET
fsr-3246	208	7	black	black	ADJ
fsr-3246	208	8	-	-	PUNCT
fsr-3246	208	9	scholes	schole	NOUN
fsr-3246	208	10	option	option	NOUN
fsr-3246	208	11	pricing	pricing	NOUN
fsr-3246	208	12	model	model	NOUN
fsr-3246	208	13	(	(	PUNCT
fsr-3246	208	14	see	see	VERB
fsr-3246	208	15	bodie	bodie	PROPN
fsr-3246	208	16	et	et	PROPN
fsr-3246	208	17	al	al	PROPN
fsr-3246	208	18	.	.	PROPN
fsr-3246	208	19	,	,	PUNCT
fsr-3246	208	20	2013	2013	NUM
fsr-3246	208	21	)	)	PUNCT
fsr-3246	208	22	.	.	PUNCT
fsr-3246	209	1	we	we	PRON
fsr-3246	209	2	estimate	estimate	VERB
fsr-3246	209	3	volatility	volatility	NOUN
fsr-3246	209	4	from	from	ADP
fsr-3246	209	5	the	the	DET
fsr-3246	209	6	previous	previous	ADJ
fsr-3246	209	7	60	60	NUM
fsr-3246	209	8	-	-	PUNCT
fsr-3246	209	9	months	month	NOUN
fsr-3246	209	10	standard	standard	ADJ
fsr-3246	209	11	deviation	deviation	NOUN
fsr-3246	209	12	of	of	ADP
fsr-3246	209	13	returns	return	NOUN
fsr-3246	209	14	,	,	PUNCT
fsr-3246	209	15	annualized	annualize	VERB
fsr-3246	209	16	.	.	PUNCT
fsr-3246	210	1	we	we	PRON
fsr-3246	210	2	use	use	VERB
fsr-3246	210	3	the	the	DET
fsr-3246	210	4	actual	actual	ADJ
fsr-3246	210	5	dividend	dividend	NOUN
fsr-3246	210	6	yield	yield	NOUN
fsr-3246	210	7	and	and	CCONJ
fsr-3246	210	8	treasury	treasury	NOUN
fsr-3246	210	9	-	-	PUNCT
fsr-3246	210	10	bill	bill	NOUN
fsr-3246	210	11	return	return	NOUN
fsr-3246	210	12	over	over	ADP
fsr-3246	210	13	the	the	DET
fsr-3246	210	14	option	option	NOUN
fsr-3246	210	15	year	year	NOUN
fsr-3246	210	16	(	(	PUNCT
fsr-3246	210	17	i.e.	i.e.	X
fsr-3246	210	18	,	,	PUNCT
fsr-3246	210	19	we	we	PRON
fsr-3246	210	20	assume	assume	VERB
fsr-3246	210	21	the	the	DET
fsr-3246	210	22	expected	expect	VERB
fsr-3246	210	23	dividend	dividend	NOUN
fsr-3246	210	24	yield	yield	NOUN
fsr-3246	210	25	is	be	AUX
fsr-3246	210	26	the	the	DET
fsr-3246	210	27	actual	actual	ADJ
fsr-3246	210	28	yield	yield	NOUN
fsr-3246	210	29	over	over	ADP
fsr-3246	210	30	the	the	DET
fsr-3246	210	31	period	period	NOUN
fsr-3246	210	32	)	)	PUNCT
fsr-3246	210	33	.	.	PUNCT
fsr-3246	211	1	we	we	PRON
fsr-3246	211	2	assume	assume	VERB
fsr-3246	211	3	transaction	transaction	NOUN
fsr-3246	211	4	costs	cost	NOUN
fsr-3246	211	5	equal	equal	ADJ
fsr-3246	211	6	5	5	NUM
fsr-3246	211	7	%	%	NOUN
fsr-3246	211	8	of	of	ADP
fsr-3246	211	9	the	the	DET
fsr-3246	211	10	option	option	NOUN
fsr-3246	211	11	values	value	NOUN
fsr-3246	211	12	.	.	PUNCT
fsr-3246	212	1	table	table	NOUN
fsr-3246	212	2	5	5	NUM
fsr-3246	212	3	contains	contain	VERB
fsr-3246	212	4	the	the	DET
fsr-3246	212	5	ratios	ratio	NOUN
fsr-3246	212	6	of	of	ADP
fsr-3246	212	7	the	the	DET
fsr-3246	212	8	equity	equity	NOUN
fsr-3246	212	9	/	/	SYM
fsr-3246	212	10	put	put	PROPN
fsr-3246	212	11	(	(	PUNCT
fsr-3246	212	12	ep	ep	NOUN
fsr-3246	212	13	)	)	PUNCT
fsr-3246	212	14	portfolio	portfolio	NOUN
fsr-3246	212	15	ending	end	VERB
fsr-3246	212	16	wealth	wealth	NOUN
fsr-3246	212	17	values	value	NOUN
fsr-3246	212	18	to	to	ADP
fsr-3246	212	19	the	the	DET
fsr-3246	212	20	eia	eia	NOUN
fsr-3246	212	21	ending	end	VERB
fsr-3246	212	22	wealth	wealth	NOUN
fsr-3246	212	23	for	for	ADP
fsr-3246	212	24	11	11	NUM
fsr-3246	212	25	through	through	ADP
fsr-3246	212	26	15	15	NUM
fsr-3246	212	27	-	-	PUNCT
fsr-3246	212	28	year	year	NOUN
fsr-3246	212	29	holding	hold	VERB
fsr-3246	212	30	periods	period	NOUN
fsr-3246	212	31	.	.	PUNCT
fsr-3246	213	1	in	in	ADP
fsr-3246	213	2	addition	addition	NOUN
fsr-3246	213	3	,	,	PUNCT
fsr-3246	213	4	table	table	NOUN
fsr-3246	213	5	5	5	NUM
fsr-3246	213	6	indicates	indicate	VERB
fsr-3246	213	7	the	the	DET
fsr-3246	213	8	table	table	NOUN
fsr-3246	213	9	5	5	NUM
fsr-3246	213	10	ending	end	VERB
fsr-3246	213	11	wealth	wealth	NOUN
fsr-3246	213	12	ratio	ratio	NOUN
fsr-3246	213	13	of	of	ADP
fsr-3246	213	14	s&p	s&p	PROPN
fsr-3246	213	15	index	index	NOUN
fsr-3246	213	16	fund	fund	NOUN
fsr-3246	213	17	and	and	CCONJ
fsr-3246	213	18	equity	equity	NOUN
fsr-3246	213	19	/	/	SYM
fsr-3246	213	20	put	put	PROPN
fsr-3246	213	21	(	(	PUNCT
fsr-3246	213	22	ep	ep	NOUN
fsr-3246	213	23	)	)	PUNCT
fsr-3246	213	24	portfolio	portfolio	NOUN
fsr-3246	213	25	to	to	PART
fsr-3246	213	26	eia	eia	PROPN
fsr-3246	213	27	years	year	NOUN
fsr-3246	213	28	percentile	percentile	VERB
fsr-3246	213	29	ep	ep	PROPN
fsr-3246	213	30	portfolio/7	portfolio/7	NUM
fsr-3246	213	31	%	%	NOUN
fsr-3246	213	32	cap	cap	NOUN
fsr-3246	213	33	eia	eia	PROPN
fsr-3246	213	34	portfolio	portfolio	PROPN
fsr-3246	213	35	value	value	NOUN
fsr-3246	213	36	1	1	NUM
fsr-3246	213	37	5	5	NUM
fsr-3246	213	38	10	10	NUM
fsr-3246	213	39	25	25	NUM
fsr-3246	213	40	50	50	NUM
fsr-3246	213	41	75	75	NUM
fsr-3246	213	42	90	90	NUM
fsr-3246	213	43	95	95	NUM
fsr-3246	213	44	99	99	NUM
fsr-3246	213	45	n	n	CCONJ
fsr-3246	213	46	be	be	AUX
fsr-3246	213	47	�	�	NUM
fsr-3246	213	48	$	$	SYM
fsr-3246	213	49	1	1	NUM
fsr-3246	213	50	min	min	NOUN
fsr-3246	213	51	95th%	95th%	NUM
fsr-3246	213	52	11	11	NUM
fsr-3246	213	53	0.55	0.55	NUM
fsr-3246	213	54	0.69	0.69	NUM
fsr-3246	213	55	0.85	0.85	NUM
fsr-3246	213	56	1.12	1.12	NUM
fsr-3246	213	57	1.49	1.49	NUM
fsr-3246	213	58	1.81	1.81	NUM
fsr-3246	213	59	2.06	2.06	NUM
fsr-3246	213	60	2.28	2.28	NUM
fsr-3246	213	61	2.59	2.59	NUM
fsr-3246	213	62	829	829	NUM
fsr-3246	213	63	15.8	15.8	NUM
fsr-3246	213	64	%	%	NOUN
fsr-3246	213	65	4.9	4.9	NUM
fsr-3246	213	66	%	%	NOUN
fsr-3246	213	67	$	$	SYM
fsr-3246	213	68	0.60	0.60	NUM
fsr-3246	213	69	$	$	SYM
fsr-3246	213	70	3.93	3.93	NUM
fsr-3246	213	71	12	12	NUM
fsr-3246	213	72	0.55	0.55	NUM
fsr-3246	213	73	0.72	0.72	NUM
fsr-3246	213	74	0.88	0.88	NUM
fsr-3246	213	75	1.20	1.20	NUM
fsr-3246	213	76	1.55	1.55	NUM
fsr-3246	213	77	1.88	1.88	NUM
fsr-3246	213	78	2.18	2.18	NUM
fsr-3246	213	79	2.38	2.38	NUM
fsr-3246	213	80	2.71	2.71	NUM
fsr-3246	213	81	817	817	NUM
fsr-3246	213	82	14.0	14.0	NUM
fsr-3246	213	83	%	%	NOUN
fsr-3246	213	84	4.2	4.2	NUM
fsr-3246	213	85	%	%	NOUN
fsr-3246	213	86	$	$	SYM
fsr-3246	213	87	0.66	0.66	NUM
fsr-3246	213	88	$	$	SYM
fsr-3246	213	89	4.31	4.31	NUM
fsr-3246	213	90	13	13	NUM
fsr-3246	213	91	0.54	0.54	NUM
fsr-3246	213	92	0.75	0.75	NUM
fsr-3246	213	93	0.92	0.92	NUM
fsr-3246	213	94	1.22	1.22	NUM
fsr-3246	213	95	1.64	1.64	NUM
fsr-3246	213	96	1.97	1.97	NUM
fsr-3246	213	97	2.31	2.31	NUM
fsr-3246	213	98	2.51	2.51	NUM
fsr-3246	213	99	2.83	2.83	NUM
fsr-3246	213	100	805	805	NUM
fsr-3246	213	101	13.8	13.8	NUM
fsr-3246	213	102	%	%	NOUN
fsr-3246	213	103	3.6	3.6	NUM
fsr-3246	213	104	%	%	NOUN
fsr-3246	213	105	$	$	SYM
fsr-3246	213	106	0.63	0.63	NUM
fsr-3246	213	107	$	$	SYM
fsr-3246	213	108	4.86	4.86	NUM
fsr-3246	213	109	14	14	NUM
fsr-3246	213	110	0.56	0.56	NUM
fsr-3246	213	111	0.75	0.75	NUM
fsr-3246	213	112	0.94	0.94	NUM
fsr-3246	213	113	1.27	1.27	NUM
fsr-3246	213	114	1.69	1.69	NUM
fsr-3246	213	115	2.04	2.04	NUM
fsr-3246	213	116	2.43	2.43	NUM
fsr-3246	213	117	2.69	2.69	NUM
fsr-3246	213	118	2.94	2.94	NUM
fsr-3246	213	119	793	793	NUM
fsr-3246	213	120	12.1	12.1	NUM
fsr-3246	213	121	%	%	NOUN
fsr-3246	213	122	2.9	2.9	NUM
fsr-3246	213	123	%	%	NOUN
fsr-3246	213	124	$	$	SYM
fsr-3246	213	125	0.72	0.72	NUM
fsr-3246	213	126	$	$	SYM
fsr-3246	213	127	5.35	5.35	NUM
fsr-3246	213	128	15	15	NUM
fsr-3246	213	129	0.57	0.57	NUM
fsr-3246	213	130	0.75	0.75	NUM
fsr-3246	213	131	1.00	1.00	NUM
fsr-3246	213	132	1.36	1.36	NUM
fsr-3246	213	133	1.72	1.72	NUM
fsr-3246	213	134	2.13	2.13	NUM
fsr-3246	213	135	2.57	2.57	NUM
fsr-3246	213	136	2.77	2.77	NUM
fsr-3246	213	137	3.38	3.38	NUM
fsr-3246	213	138	781	781	NUM
fsr-3246	213	139	9.9	9.9	NUM
fsr-3246	213	140	%	%	NOUN
fsr-3246	213	141	2.0	2.0	NUM
fsr-3246	213	142	%	%	NOUN
fsr-3246	213	143	$	$	SYM
fsr-3246	213	144	0.73	0.73	NUM
fsr-3246	213	145	$	$	SYM
fsr-3246	213	146	6.10	6.10	NUM
fsr-3246	213	147	percentile	percentile	ADJ
fsr-3246	213	148	ep	ep	PROPN
fsr-3246	213	149	portfolio/5	portfolio/5	PROPN
fsr-3246	213	150	%	%	NOUN
fsr-3246	213	151	cap	cap	NOUN
fsr-3246	213	152	eia	eia	PROPN
fsr-3246	213	153	portfolio	portfolio	PROPN
fsr-3246	213	154	value	value	VERB
fsr-3246	213	155	11	11	NUM
fsr-3246	213	156	0.60	0.60	NUM
fsr-3246	213	157	0.77	0.77	NUM
fsr-3246	213	158	0.95	0.95	NUM
fsr-3246	213	159	1.24	1.24	NUM
fsr-3246	213	160	1.68	1.68	NUM
fsr-3246	213	161	2.08	2.08	NUM
fsr-3246	213	162	2.36	2.36	NUM
fsr-3246	213	163	2.60	2.60	NUM
fsr-3246	213	164	2.97	2.97	NUM
fsr-3246	213	165	829	829	NUM
fsr-3246	213	166	11.5	11.5	NUM
fsr-3246	213	167	%	%	NOUN
fsr-3246	213	168	4.9	4.9	NUM
fsr-3246	213	169	%	%	NOUN
fsr-3246	213	170	$	$	SYM
fsr-3246	213	171	0.60	0.60	NUM
fsr-3246	213	172	$	$	SYM
fsr-3246	213	173	3.93	3.93	NUM
fsr-3246	213	174	12	12	NUM
fsr-3246	213	175	0.60	0.60	NUM
fsr-3246	213	176	0.81	0.81	NUM
fsr-3246	213	177	0.99	0.99	NUM
fsr-3246	213	178	1.34	1.34	NUM
fsr-3246	213	179	1.78	1.78	NUM
fsr-3246	213	180	2.17	2.17	NUM
fsr-3246	213	181	2.54	2.54	NUM
fsr-3246	213	182	2.76	2.76	NUM
fsr-3246	213	183	3.16	3.16	NUM
fsr-3246	213	184	817	817	NUM
fsr-3246	213	185	10.3	10.3	NUM
fsr-3246	213	186	%	%	NOUN
fsr-3246	213	187	4.2	4.2	NUM
fsr-3246	213	188	%	%	NOUN
fsr-3246	213	189	$	$	SYM
fsr-3246	213	190	0.66	0.66	NUM
fsr-3246	213	191	$	$	SYM
fsr-3246	213	192	4.31	4.31	NUM
fsr-3246	213	193	13	13	NUM
fsr-3246	213	194	0.60	0.60	NUM
fsr-3246	213	195	0.85	0.85	NUM
fsr-3246	213	196	1.04	1.04	NUM
fsr-3246	213	197	1.39	1.39	NUM
fsr-3246	213	198	1.90	1.90	NUM
fsr-3246	213	199	2.31	2.31	NUM
fsr-3246	213	200	2.75	2.75	NUM
fsr-3246	213	201	2.98	2.98	NUM
fsr-3246	213	202	3.30	3.30	NUM
fsr-3246	213	203	805	805	NUM
fsr-3246	213	204	9.3	9.3	NUM
fsr-3246	213	205	%	%	NOUN
fsr-3246	213	206	3.6	3.6	NUM
fsr-3246	213	207	%	%	NOUN
fsr-3246	213	208	$	$	SYM
fsr-3246	213	209	0.63	0.63	NUM
fsr-3246	213	210	$	$	SYM
fsr-3246	213	211	4.86	4.86	NUM
fsr-3246	213	212	14	14	NUM
fsr-3246	213	213	0.61	0.61	NUM
fsr-3246	213	214	0.84	0.84	NUM
fsr-3246	213	215	1.07	1.07	NUM
fsr-3246	213	216	1.46	1.46	NUM
fsr-3246	213	217	1.97	1.97	NUM
fsr-3246	213	218	2.42	2.42	NUM
fsr-3246	213	219	2.89	2.89	NUM
fsr-3246	213	220	3.21	3.21	NUM
fsr-3246	213	221	3.61	3.61	NUM
fsr-3246	213	222	793	793	NUM
fsr-3246	213	223	7.6	7.6	NUM
fsr-3246	213	224	%	%	NOUN
fsr-3246	213	225	2.9	2.9	NUM
fsr-3246	213	226	%	%	NOUN
fsr-3246	213	227	$	$	SYM
fsr-3246	213	228	0.72	0.72	NUM
fsr-3246	213	229	$	$	SYM
fsr-3246	213	230	5.35	5.35	NUM
fsr-3246	213	231	15	15	NUM
fsr-3246	213	232	0.63	0.63	NUM
fsr-3246	213	233	0.87	0.87	NUM
fsr-3246	213	234	1.14	1.14	NUM
fsr-3246	213	235	1.58	1.58	NUM
fsr-3246	213	236	2.05	2.05	NUM
fsr-3246	213	237	2.55	2.55	NUM
fsr-3246	213	238	3.09	3.09	NUM
fsr-3246	213	239	3.36	3.36	NUM
fsr-3246	213	240	4.24	4.24	NUM
fsr-3246	213	241	781	781	NUM
fsr-3246	213	242	7.3	7.3	NUM
fsr-3246	213	243	%	%	NOUN
fsr-3246	213	244	2.0	2.0	NUM
fsr-3246	213	245	%	%	NOUN
fsr-3246	213	246	$	$	SYM
fsr-3246	213	247	0.73	0.73	NUM
fsr-3246	213	248	$	$	SYM
fsr-3246	213	249	6.10	6.10	NUM
fsr-3246	213	250	percentile	percentile	ADJ
fsr-3246	213	251	ep	ep	NOUN
fsr-3246	213	252	portfolio/(t	portfolio/(t	NOUN
fsr-3246	213	253	-	-	PUNCT
fsr-3246	213	254	bond	bond	NOUN
fsr-3246	213	255	2.5	2.5	NUM
fsr-3246	213	256	%	%	NOUN
fsr-3246	213	257	)	)	PUNCT
fsr-3246	213	258	cap	cap	NOUN
fsr-3246	213	259	eia	eia	PROPN
fsr-3246	213	260	portfolio	portfolio	PROPN
fsr-3246	213	261	value	value	PROPN
fsr-3246	213	262	11	11	NUM
fsr-3246	213	263	0.63	0.63	NUM
fsr-3246	213	264	0.79	0.79	NUM
fsr-3246	213	265	0.91	0.91	NUM
fsr-3246	213	266	1.10	1.10	NUM
fsr-3246	213	267	1.38	1.38	NUM
fsr-3246	213	268	1.71	1.71	NUM
fsr-3246	213	269	1.96	1.96	NUM
fsr-3246	213	270	2.12	2.12	NUM
fsr-3246	213	271	2.26	2.26	NUM
fsr-3246	213	272	829	829	NUM
fsr-3246	213	273	15.7	15.7	NUM
fsr-3246	213	274	%	%	NOUN
fsr-3246	213	275	4.9	4.9	NUM
fsr-3246	213	276	%	%	NOUN
fsr-3246	213	277	$	$	SYM
fsr-3246	213	278	0.60	0.60	NUM
fsr-3246	213	279	$	$	SYM
fsr-3246	213	280	3.93	3.93	NUM
fsr-3246	213	281	12	12	NUM
fsr-3246	213	282	0.64	0.64	NUM
fsr-3246	213	283	0.84	0.84	NUM
fsr-3246	213	284	0.95	0.95	NUM
fsr-3246	213	285	1.14	1.14	NUM
fsr-3246	213	286	1.44	1.44	NUM
fsr-3246	213	287	1.77	1.77	NUM
fsr-3246	213	288	2.05	2.05	NUM
fsr-3246	213	289	2.18	2.18	NUM
fsr-3246	213	290	2.41	2.41	NUM
fsr-3246	213	291	817	817	NUM
fsr-3246	213	292	14.3	14.3	NUM
fsr-3246	213	293	%	%	NOUN
fsr-3246	213	294	4.2	4.2	NUM
fsr-3246	213	295	%	%	NOUN
fsr-3246	213	296	$	$	SYM
fsr-3246	213	297	0.66	0.66	NUM
fsr-3246	213	298	$	$	SYM
fsr-3246	213	299	4.31	4.31	NUM
fsr-3246	213	300	13	13	NUM
fsr-3246	213	301	0.64	0.64	NUM
fsr-3246	213	302	0.86	0.86	NUM
fsr-3246	213	303	0.97	0.97	NUM
fsr-3246	213	304	1.20	1.20	NUM
fsr-3246	213	305	1.49	1.49	NUM
fsr-3246	213	306	1.86	1.86	NUM
fsr-3246	213	307	2.14	2.14	NUM
fsr-3246	213	308	2.26	2.26	NUM
fsr-3246	213	309	2.42	2.42	NUM
fsr-3246	213	310	805	805	NUM
fsr-3246	213	311	12.2	12.2	NUM
fsr-3246	213	312	%	%	NOUN
fsr-3246	213	313	3.6	3.6	NUM
fsr-3246	213	314	%	%	NOUN
fsr-3246	213	315	$	$	SYM
fsr-3246	213	316	0.63	0.63	NUM
fsr-3246	213	317	$	$	SYM
fsr-3246	213	318	4.86	4.86	NUM
fsr-3246	213	319	14	14	NUM
fsr-3246	213	320	0.65	0.65	NUM
fsr-3246	213	321	0.87	0.87	NUM
fsr-3246	213	322	0.99	0.99	NUM
fsr-3246	213	323	1.24	1.24	NUM
fsr-3246	213	324	1.55	1.55	NUM
fsr-3246	213	325	1.91	1.91	NUM
fsr-3246	213	326	2.24	2.24	NUM
fsr-3246	213	327	2.38	2.38	NUM
fsr-3246	213	328	2.70	2.70	NUM
fsr-3246	213	329	793	793	NUM
fsr-3246	213	330	10.8	10.8	NUM
fsr-3246	213	331	%	%	NOUN
fsr-3246	213	332	2.9	2.9	NUM
fsr-3246	213	333	%	%	NOUN
fsr-3246	213	334	$	$	SYM
fsr-3246	213	335	0.72	0.72	NUM
fsr-3246	213	336	$	$	SYM
fsr-3246	213	337	5.35	5.35	NUM
fsr-3246	213	338	15	15	NUM
fsr-3246	213	339	0.67	0.67	NUM
fsr-3246	213	340	0.90	0.90	NUM
fsr-3246	213	341	1.02	1.02	NUM
fsr-3246	213	342	1.30	1.30	NUM
fsr-3246	213	343	1.58	1.58	NUM
fsr-3246	213	344	2.00	2.00	NUM
fsr-3246	213	345	2.32	2.32	NUM
fsr-3246	213	346	2.51	2.51	NUM
fsr-3246	213	347	2.90	2.90	NUM
fsr-3246	213	348	781	781	NUM
fsr-3246	213	349	9.1	9.1	NUM
fsr-3246	213	350	%	%	NOUN
fsr-3246	213	351	2.0	2.0	NUM
fsr-3246	213	352	%	%	NOUN
fsr-3246	213	353	$	$	SYM
fsr-3246	213	354	0.73	0.73	NUM
fsr-3246	213	355	$	$	SYM
fsr-3246	213	356	6.10	6.10	NUM
fsr-3246	213	357	be	be	AUX
fsr-3246	213	358	,	,	PUNCT
fsr-3246	213	359	breakeven	breakeven	X
fsr-3246	213	360	percentile	percentile	NOUN
fsr-3246	213	361	(	(	PUNCT
fsr-3246	213	362	percent	percent	NOUN
fsr-3246	213	363	of	of	ADP
fsr-3246	213	364	times	times	PROPN
fsr-3246	213	365	wealth	wealth	PROPN
fsr-3246	213	366	ratio	ratio	PROPN
fsr-3246	213	367	�	�	PROPN
fsr-3246	213	368	1	1	NUM
fsr-3246	213	369	)	)	PUNCT
fsr-3246	213	370	.	.	PUNCT
fsr-3246	214	1	422	422	NUM
fsr-3246	214	2	a.	a.	NOUN
fsr-3246	214	3	terry	terry	PROPN
fsr-3246	214	4	,	,	PUNCT
fsr-3246	214	5	e.	e.	PROPN
fsr-3246	214	6	elder	elder	PROPN
fsr-3246	214	7	/	/	SYM
fsr-3246	214	8	financial	financial	ADJ
fsr-3246	214	9	services	service	NOUN
fsr-3246	214	10	review	review	VERB
fsr-3246	214	11	24	24	NUM
fsr-3246	214	12	(	(	PUNCT
fsr-3246	214	13	2015	2015	NUM
fsr-3246	214	14	)	)	PUNCT
fsr-3246	214	15	411–428	411–428	NUM
fsr-3246	214	16	percentage	percentage	NOUN
fsr-3246	214	17	of	of	ADP
fsr-3246	214	18	times	time	NOUN
fsr-3246	214	19	the	the	DET
fsr-3246	214	20	ep	ep	PROPN
fsr-3246	214	21	portfolio	portfolio	NOUN
fsr-3246	214	22	holding	hold	VERB
fsr-3246	214	23	period	period	NOUN
fsr-3246	214	24	returns	return	NOUN
fsr-3246	214	25	were	be	AUX
fsr-3246	214	26	negative	negative	ADJ
fsr-3246	214	27	,	,	PUNCT
fsr-3246	214	28	the	the	DET
fsr-3246	214	29	worst	bad	ADJ
fsr-3246	214	30	return	return	NOUN
fsr-3246	214	31	,	,	PUNCT
fsr-3246	214	32	and	and	CCONJ
fsr-3246	214	33	on	on	ADP
fsr-3246	214	34	the	the	DET
fsr-3246	214	35	upside	upside	NOUN
fsr-3246	214	36	the	the	DET
fsr-3246	214	37	value	value	NOUN
fsr-3246	214	38	of	of	ADP
fsr-3246	214	39	$	$	SYM
fsr-3246	214	40	1	1	NUM
fsr-3246	214	41	invested	invest	VERB
fsr-3246	214	42	in	in	ADP
fsr-3246	214	43	the	the	DET
fsr-3246	214	44	portfolio	portfolio	NOUN
fsr-3246	214	45	at	at	ADP
fsr-3246	214	46	the	the	DET
fsr-3246	214	47	95th	95th	ADJ
fsr-3246	214	48	percentile	percentile	NOUN
fsr-3246	214	49	.	.	PUNCT
fsr-3246	215	1	the	the	DET
fsr-3246	215	2	ep	ep	PROPN
fsr-3246	215	3	portfolios	portfolio	NOUN
fsr-3246	215	4	had	have	VERB
fsr-3246	215	5	median	median	ADJ
fsr-3246	215	6	values	value	NOUN
fsr-3246	215	7	that	that	PRON
fsr-3246	215	8	ranged	range	VERB
fsr-3246	215	9	from	from	ADP
fsr-3246	215	10	49	49	NUM
fsr-3246	215	11	%	%	NOUN
fsr-3246	215	12	to	to	ADP
fsr-3246	215	13	105	105	NUM
fsr-3246	215	14	%	%	NOUN
fsr-3246	215	15	higher	high	ADJ
fsr-3246	215	16	than	than	ADP
fsr-3246	215	17	the	the	DET
fsr-3246	215	18	eia	eia	PROPN
fsr-3246	215	19	.	.	PUNCT
fsr-3246	216	1	eias	eias	PROPN
fsr-3246	216	2	outperformed	outperform	VERB
fsr-3246	216	3	the	the	DET
fsr-3246	216	4	ep	ep	PROPN
fsr-3246	216	5	portfolios	portfolio	NOUN
fsr-3246	216	6	from	from	ADP
fsr-3246	216	7	only	only	ADV
fsr-3246	216	8	7.3	7.3	NUM
fsr-3246	216	9	%	%	NOUN
fsr-3246	216	10	of	of	ADP
fsr-3246	216	11	the	the	DET
fsr-3246	216	12	time	time	NOUN
fsr-3246	216	13	for	for	ADP
fsr-3246	216	14	the	the	DET
fsr-3246	216	15	5	5	NUM
fsr-3246	216	16	%	%	NOUN
fsr-3246	216	17	cap	cap	NOUN
fsr-3246	216	18	,	,	PUNCT
fsr-3246	216	19	15	15	NUM
fsr-3246	216	20	-	-	PUNCT
fsr-3246	216	21	year	year	NOUN
fsr-3246	216	22	horizon	horizon	NOUN
fsr-3246	216	23	to	to	ADP
fsr-3246	216	24	15.8	15.8	NUM
fsr-3246	216	25	%	%	NOUN
fsr-3246	216	26	of	of	ADP
fsr-3246	216	27	the	the	DET
fsr-3246	216	28	time	time	NOUN
fsr-3246	216	29	for	for	ADP
fsr-3246	216	30	the	the	DET
fsr-3246	216	31	7	7	NUM
fsr-3246	216	32	%	%	NOUN
fsr-3246	216	33	cap	cap	NOUN
fsr-3246	216	34	,	,	PUNCT
fsr-3246	216	35	11	11	NUM
fsr-3246	216	36	-	-	PUNCT
fsr-3246	216	37	year	year	NOUN
fsr-3246	216	38	horizon	horizon	NOUN
fsr-3246	216	39	holding	hold	VERB
fsr-3246	216	40	period	period	NOUN
fsr-3246	216	41	.	.	PUNCT
fsr-3246	217	1	although	although	SCONJ
fsr-3246	217	2	holding	hold	VERB
fsr-3246	217	3	period	period	NOUN
fsr-3246	217	4	returns	return	NOUN
fsr-3246	217	5	for	for	ADP
fsr-3246	217	6	the	the	DET
fsr-3246	217	7	ep	ep	PROPN
fsr-3246	217	8	portfolios	portfolio	NOUN
fsr-3246	217	9	were	be	AUX
fsr-3246	217	10	negative	negative	ADJ
fsr-3246	217	11	less	less	ADJ
fsr-3246	217	12	than	than	ADP
fsr-3246	217	13	5	5	NUM
fsr-3246	217	14	%	%	NOUN
fsr-3246	217	15	of	of	ADP
fsr-3246	217	16	the	the	DET
fsr-3246	217	17	time	time	NOUN
fsr-3246	217	18	for	for	ADP
fsr-3246	217	19	all	all	DET
fsr-3246	217	20	caps	cap	NOUN
fsr-3246	217	21	and	and	CCONJ
fsr-3246	217	22	holding	hold	VERB
fsr-3246	217	23	periods	period	NOUN
fsr-3246	217	24	,	,	PUNCT
fsr-3246	217	25	their	their	PRON
fsr-3246	217	26	worst	bad	ADJ
fsr-3246	217	27	downside	downside	NOUN
fsr-3246	217	28	ranged	range	VERB
fsr-3246	217	29	from	from	ADP
fsr-3246	217	30	losing	lose	VERB
fsr-3246	217	31	40	40	NUM
fsr-3246	217	32	%	%	NOUN
fsr-3246	217	33	for	for	ADP
fsr-3246	217	34	the	the	DET
fsr-3246	217	35	11	11	NUM
fsr-3246	217	36	-	-	PUNCT
fsr-3246	217	37	year	year	NOUN
fsr-3246	217	38	horizon	horizon	NOUN
fsr-3246	217	39	to	to	ADP
fsr-3246	217	40	losing	lose	VERB
fsr-3246	217	41	27	27	NUM
fsr-3246	217	42	%	%	NOUN
fsr-3246	217	43	for	for	ADP
fsr-3246	217	44	the	the	DET
fsr-3246	217	45	15	15	NUM
fsr-3246	217	46	-	-	PUNCT
fsr-3246	217	47	year	year	NOUN
fsr-3246	217	48	horizon	horizon	NOUN
fsr-3246	217	49	.	.	PUNCT
fsr-3246	218	1	on	on	ADP
fsr-3246	218	2	the	the	DET
fsr-3246	218	3	upside	upside	NOUN
fsr-3246	218	4	,	,	PUNCT
fsr-3246	218	5	the	the	DET
fsr-3246	218	6	95th	95th	ADJ
fsr-3246	218	7	percentile	percentile	ADJ
fsr-3246	218	8	returns	return	NOUN
fsr-3246	218	9	ranged	range	VERB
fsr-3246	218	10	from	from	ADP
fsr-3246	218	11	293	293	NUM
fsr-3246	218	12	%	%	NOUN
fsr-3246	218	13	at	at	ADP
fsr-3246	218	14	the	the	DET
fsr-3246	218	15	11	11	NUM
fsr-3246	218	16	-	-	PUNCT
fsr-3246	218	17	year	year	NOUN
fsr-3246	218	18	horizon	horizon	NOUN
fsr-3246	218	19	to	to	ADP
fsr-3246	218	20	510	510	NUM
fsr-3246	218	21	%	%	NOUN
fsr-3246	218	22	for	for	ADP
fsr-3246	218	23	the	the	DET
fsr-3246	218	24	15	15	NUM
fsr-3246	218	25	year	year	NOUN
fsr-3246	218	26	horizon	horizon	NOUN
fsr-3246	218	27	,	,	PUNCT
fsr-3246	218	28	or	or	CCONJ
fsr-3246	218	29	,	,	PUNCT
fsr-3246	218	30	alternatively	alternatively	ADV
fsr-3246	218	31	,	,	PUNCT
fsr-3246	218	32	at	at	ADP
fsr-3246	218	33	the	the	DET
fsr-3246	218	34	95th	95th	ADJ
fsr-3246	218	35	percentile	percentile	NOUN
fsr-3246	218	36	the	the	DET
fsr-3246	218	37	ep	ep	PROPN
fsr-3246	218	38	portfolio	portfolio	NOUN
fsr-3246	218	39	resulted	result	VERB
fsr-3246	218	40	in	in	ADP
fsr-3246	218	41	ending	end	VERB
fsr-3246	218	42	wealth	wealth	NOUN
fsr-3246	218	43	ranging	range	VERB
fsr-3246	218	44	from	from	ADP
fsr-3246	218	45	2.28	2.28	NUM
fsr-3246	218	46	to	to	ADP
fsr-3246	218	47	3.36	3.36	NUM
fsr-3246	218	48	times	time	NOUN
fsr-3246	218	49	as	as	ADV
fsr-3246	218	50	high	high	ADJ
fsr-3246	218	51	as	as	ADP
fsr-3246	218	52	the	the	DET
fsr-3246	218	53	eia	eia	PROPN
fsr-3246	218	54	.	.	PUNCT
fsr-3246	219	1	relative	relative	ADJ
fsr-3246	219	2	to	to	ADP
fsr-3246	219	3	the	the	DET
fsr-3246	219	4	�	�	PROPN
fsr-3246	219	5	adjusted	adjust	VERB
fsr-3246	219	6	eb	eb	PROPN
fsr-3246	219	7	portfolio	portfolio	PROPN
fsr-3246	219	8	,	,	PUNCT
fsr-3246	219	9	the	the	DET
fsr-3246	219	10	ep	ep	PROPN
fsr-3246	219	11	portfolio	portfolio	NOUN
fsr-3246	219	12	has	have	VERB
fsr-3246	219	13	both	both	CCONJ
fsr-3246	219	14	more	more	ADJ
fsr-3246	219	15	downside	downside	ADJ
fsr-3246	219	16	and	and	CCONJ
fsr-3246	219	17	significantly	significantly	ADV
fsr-3246	219	18	more	more	ADV
fsr-3246	219	19	upside	upside	ADV
fsr-3246	219	20	.	.	PUNCT
fsr-3246	220	1	this	this	PRON
fsr-3246	220	2	is	be	AUX
fsr-3246	220	3	also	also	ADV
fsr-3246	220	4	illustrated	illustrate	VERB
fsr-3246	220	5	in	in	ADP
fsr-3246	220	6	fig	fig	NOUN
fsr-3246	220	7	.	.	PUNCT
fsr-3246	221	1	2	2	NUM
fsr-3246	221	2	where	where	SCONJ
fsr-3246	221	3	the	the	DET
fsr-3246	221	4	ratios	ratio	NOUN
fsr-3246	221	5	of	of	ADP
fsr-3246	221	6	these	these	DET
fsr-3246	221	7	portfolio	portfolio	NOUN
fsr-3246	221	8	values	value	NOUN
fsr-3246	221	9	to	to	PART
fsr-3246	221	10	eias	eias	VERB
fsr-3246	221	11	for	for	ADP
fsr-3246	221	12	15	15	NUM
fsr-3246	221	13	-	-	PUNCT
fsr-3246	221	14	year	year	NOUN
fsr-3246	221	15	holding	hold	VERB
fsr-3246	221	16	periods	period	NOUN
fsr-3246	221	17	are	be	AUX
fsr-3246	221	18	shown.14	shown.14	NOUN
fsr-3246	221	19	comparing	compare	VERB
fsr-3246	221	20	table	table	NOUN
fsr-3246	221	21	5	5	NUM
fsr-3246	221	22	to	to	PART
fsr-3246	221	23	table	table	VERB
fsr-3246	221	24	4	4	NUM
fsr-3246	221	25	,	,	PUNCT
fsr-3246	221	26	the	the	DET
fsr-3246	221	27	ep	ep	PROPN
fsr-3246	221	28	portfolios	portfolio	NOUN
fsr-3246	221	29	are	be	AUX
fsr-3246	221	30	outperformed	outperform	VERB
fsr-3246	221	31	by	by	ADP
fsr-3246	221	32	eias	eia	NOUN
fsr-3246	221	33	only	only	ADV
fsr-3246	221	34	half	half	DET
fsr-3246	221	35	as	as	ADV
fsr-3246	221	36	often	often	ADV
fsr-3246	221	37	for	for	ADP
fsr-3246	221	38	the	the	DET
fsr-3246	221	39	fixed	fix	VERB
fsr-3246	221	40	cap	cap	NOUN
fsr-3246	221	41	eias	eia	NOUN
fsr-3246	221	42	to	to	ADP
fsr-3246	221	43	two	two	NUM
fsr-3246	221	44	-	-	PUNCT
fsr-3246	221	45	thirds	third	NOUN
fsr-3246	221	46	as	as	ADV
fsr-3246	221	47	often	often	ADV
fsr-3246	221	48	for	for	ADP
fsr-3246	221	49	the	the	DET
fsr-3246	221	50	variable	variable	ADJ
fsr-3246	221	51	cap	cap	NOUN
fsr-3246	221	52	eias	eia	NOUN
fsr-3246	221	53	as	as	SCONJ
fsr-3246	221	54	the	the	DET
fsr-3246	221	55	eb	eb	PROPN
fsr-3246	221	56	portfolios	portfolio	NOUN
fsr-3246	221	57	are	be	AUX
fsr-3246	221	58	outperformed	outperform	VERB
fsr-3246	221	59	,	,	PUNCT
fsr-3246	221	60	and	and	CCONJ
fsr-3246	221	61	in	in	ADP
fsr-3246	221	62	addition	addition	NOUN
fsr-3246	221	63	the	the	DET
fsr-3246	221	64	ep	ep	PROPN
fsr-3246	221	65	portfolios	portfolio	NOUN
fsr-3246	221	66	have	have	VERB
fsr-3246	221	67	significantly	significantly	ADV
fsr-3246	221	68	more	more	ADV
fsr-3246	221	69	upside	upside	ADV
fsr-3246	221	70	.	.	PUNCT
fsr-3246	222	1	however	however	ADV
fsr-3246	222	2	,	,	PUNCT
fsr-3246	222	3	the	the	DET
fsr-3246	222	4	potential	potential	NOUN
fsr-3246	222	5	for	for	ADP
fsr-3246	222	6	loss	loss	NOUN
fsr-3246	222	7	is	be	AUX
fsr-3246	222	8	significantly	significantly	ADV
fsr-3246	222	9	higher	high	ADJ
fsr-3246	222	10	for	for	ADP
fsr-3246	222	11	the	the	DET
fsr-3246	222	12	ep	ep	PROPN
fsr-3246	222	13	portfolios	portfolio	NOUN
fsr-3246	222	14	.	.	PUNCT
fsr-3246	223	1	this	this	DET
fsr-3246	223	2	result	result	NOUN
fsr-3246	223	3	is	be	AUX
fsr-3246	223	4	because	because	SCONJ
fsr-3246	223	5	of	of	ADP
fsr-3246	223	6	consecutive	consecutive	ADJ
fsr-3246	223	7	down	down	ADJ
fsr-3246	223	8	market	market	NOUN
fsr-3246	223	9	years	year	NOUN
fsr-3246	223	10	where	where	SCONJ
fsr-3246	223	11	investors	investor	NOUN
fsr-3246	223	12	earn	earn	VERB
fsr-3246	223	13	nothing	nothing	PRON
fsr-3246	223	14	on	on	ADP
fsr-3246	223	15	the	the	DET
fsr-3246	223	16	market	market	NOUN
fsr-3246	223	17	but	but	CCONJ
fsr-3246	223	18	still	still	ADV
fsr-3246	223	19	have	have	VERB
fsr-3246	223	20	to	to	PART
fsr-3246	223	21	pay	pay	VERB
fsr-3246	223	22	expensive	expensive	ADJ
fsr-3246	223	23	insurance	insurance	NOUN
fsr-3246	223	24	(	(	PUNCT
fsr-3246	223	25	put	put	NOUN
fsr-3246	223	26	)	)	PUNCT
fsr-3246	223	27	premiums	premium	NOUN
fsr-3246	223	28	.	.	PUNCT
fsr-3246	224	1	the	the	DET
fsr-3246	224	2	final	final	ADJ
fsr-3246	224	3	strategy	strategy	NOUN
fsr-3246	224	4	consists	consist	VERB
fsr-3246	224	5	of	of	ADP
fsr-3246	224	6	replicating	replicate	VERB
fsr-3246	224	7	the	the	DET
fsr-3246	224	8	eia	eia	PROPN
fsr-3246	224	9	return	return	NOUN
fsr-3246	224	10	by	by	ADP
fsr-3246	224	11	purchasing	purchase	VERB
fsr-3246	224	12	an	an	PRON
fsr-3246	224	13	at	at	ADP
fsr-3246	224	14	the	the	DET
fsr-3246	224	15	money	money	NOUN
fsr-3246	224	16	call	call	NOUN
fsr-3246	224	17	and	and	CCONJ
fsr-3246	224	18	writing	write	VERB
fsr-3246	224	19	a	a	DET
fsr-3246	224	20	call	call	NOUN
fsr-3246	224	21	that	that	PRON
fsr-3246	224	22	is	be	AUX
fsr-3246	224	23	(	(	PUNCT
fsr-3246	224	24	1	1	NUM
fsr-3246	224	25	�	�	PROPN
fsr-3246	224	26	cap%	cap%	NOUN
fsr-3246	224	27	)	)	PUNCT
fsr-3246	224	28	out	out	ADP
fsr-3246	224	29	of	of	ADP
fsr-3246	224	30	the	the	DET
fsr-3246	224	31	money	money	NOUN
fsr-3246	224	32	and	and	CCONJ
fsr-3246	224	33	investing	invest	VERB
fsr-3246	224	34	the	the	DET
fsr-3246	224	35	remainder	remainder	NOUN
fsr-3246	224	36	at	at	ADP
fsr-3246	224	37	the	the	DET
fsr-3246	224	38	five	five	NUM
fsr-3246	224	39	-	-	PUNCT
fsr-3246	224	40	year	year	NOUN
fsr-3246	224	41	treasury	treasury	NOUN
fsr-3246	224	42	yield	yield	NOUN
fsr-3246	224	43	.	.	PUNCT
fsr-3246	225	1	we	we	PRON
fsr-3246	225	2	assume	assume	VERB
fsr-3246	225	3	a	a	DET
fsr-3246	225	4	5	5	NUM
fsr-3246	225	5	%	%	NOUN
fsr-3246	225	6	transaction	transaction	NOUN
fsr-3246	225	7	cost	cost	NOUN
fsr-3246	225	8	on	on	ADP
fsr-3246	225	9	both	both	CCONJ
fsr-3246	225	10	the	the	DET
fsr-3246	225	11	purchased	purchase	VERB
fsr-3246	225	12	and	and	CCONJ
fsr-3246	225	13	written	write	VERB
fsr-3246	225	14	call	call	NOUN
fsr-3246	225	15	.	.	PUNCT
fsr-3246	226	1	in	in	ADP
fsr-3246	226	2	a	a	DET
fsr-3246	226	3	given	give	VERB
fsr-3246	226	4	year	year	NOUN
fsr-3246	226	5	the	the	DET
fsr-3246	226	6	total	total	ADJ
fsr-3246	226	7	return	return	NOUN
fsr-3246	226	8	from	from	ADP
fsr-3246	226	9	this	this	DET
fsr-3246	226	10	strategy	strategy	NOUN
fsr-3246	226	11	is	be	AUX
fsr-3246	226	12	the	the	DET
fsr-3246	226	13	yield	yield	NOUN
fsr-3246	226	14	on	on	ADP
fsr-3246	226	15	the	the	DET
fsr-3246	226	16	treasury	treasury	PROPN
fsr-3246	226	17	bond	bond	NOUN
fsr-3246	226	18	,	,	PUNCT
fsr-3246	226	19	less	less	ADJ
fsr-3246	226	20	fig	fig	NOUN
fsr-3246	226	21	.	.	PUNCT
fsr-3246	227	1	2	2	X
fsr-3246	227	2	.	.	X
fsr-3246	227	3	ratio	ratio	NOUN
fsr-3246	227	4	of	of	ADP
fsr-3246	227	5	equity	equity	NOUN
fsr-3246	227	6	/	/	SYM
fsr-3246	227	7	bill	bill	NOUN
fsr-3246	227	8	(	(	PUNCT
fsr-3246	227	9	eb	eb	PROPN
fsr-3246	227	10	)	)	PUNCT
fsr-3246	227	11	portfolio	portfolio	NOUN
fsr-3246	227	12	and	and	CCONJ
fsr-3246	227	13	equity	equity	NOUN
fsr-3246	227	14	/	/	SYM
fsr-3246	227	15	put	put	PROPN
fsr-3246	227	16	(	(	PUNCT
fsr-3246	227	17	ep	ep	NOUN
fsr-3246	227	18	)	)	PUNCT
fsr-3246	227	19	portfolio	portfolio	NOUN
fsr-3246	227	20	to	to	ADP
fsr-3246	227	21	equity	equity	NOUN
fsr-3246	227	22	indexed	index	VERB
fsr-3246	227	23	annuities	annuity	NOUN
fsr-3246	227	24	(	(	PUNCT
fsr-3246	227	25	eia	eia	PROPN
fsr-3246	227	26	)	)	PUNCT
fsr-3246	227	27	over	over	ADP
fsr-3246	227	28	15	15	NUM
fsr-3246	227	29	year	year	NOUN
fsr-3246	227	30	horizon	horizon	NOUN
fsr-3246	227	31	.	.	PUNCT
fsr-3246	228	1	423a	423a	NOUN
fsr-3246	228	2	.	.	PUNCT
fsr-3246	229	1	terry	terry	PROPN
fsr-3246	229	2	,	,	PUNCT
fsr-3246	229	3	e.	e.	PROPN
fsr-3246	229	4	elder	elder	PROPN
fsr-3246	229	5	/	/	SYM
fsr-3246	229	6	financial	financial	ADJ
fsr-3246	229	7	services	service	NOUN
fsr-3246	229	8	review	review	VERB
fsr-3246	229	9	24	24	NUM
fsr-3246	229	10	(	(	PUNCT
fsr-3246	229	11	2015	2015	NUM
fsr-3246	229	12	)	)	PUNCT
fsr-3246	230	1	411–428	411–428	NUM
fsr-3246	230	2	the	the	DET
fsr-3246	230	3	net	net	ADJ
fsr-3246	230	4	option	option	NOUN
fsr-3246	230	5	cost	cost	NOUN
fsr-3246	230	6	,	,	PUNCT
fsr-3246	230	7	plus	plus	CCONJ
fsr-3246	230	8	the	the	DET
fsr-3246	230	9	eia	eia	PROPN
fsr-3246	230	10	return	return	NOUN
fsr-3246	230	11	.	.	PUNCT
fsr-3246	231	1	table	table	NOUN
fsr-3246	231	2	6	6	NUM
fsr-3246	231	3	contains	contain	VERB
fsr-3246	231	4	the	the	DET
fsr-3246	231	5	ratios	ratio	NOUN
fsr-3246	231	6	of	of	ADP
fsr-3246	231	7	the	the	DET
fsr-3246	231	8	call	call	NOUN
fsr-3246	231	9	/	/	SYM
fsr-3246	231	10	bond	bond	NOUN
fsr-3246	231	11	(	(	PUNCT
fsr-3246	231	12	cb	cb	PROPN
fsr-3246	231	13	)	)	PUNCT
fsr-3246	231	14	portfolio	portfolio	NOUN
fsr-3246	231	15	ending	end	VERB
fsr-3246	231	16	wealth	wealth	NOUN
fsr-3246	231	17	values	value	NOUN
fsr-3246	231	18	to	to	ADP
fsr-3246	231	19	the	the	DET
fsr-3246	231	20	ending	end	VERB
fsr-3246	231	21	wealth	wealth	NOUN
fsr-3246	231	22	from	from	ADP
fsr-3246	231	23	the	the	DET
fsr-3246	231	24	eia	eia	NOUN
fsr-3246	231	25	for	for	ADP
fsr-3246	231	26	11	11	NUM
fsr-3246	231	27	through	through	ADP
fsr-3246	231	28	15	15	NUM
fsr-3246	231	29	-	-	PUNCT
fsr-3246	231	30	year	year	NOUN
fsr-3246	231	31	holding	hold	VERB
fsr-3246	231	32	periods	period	NOUN
fsr-3246	231	33	.	.	PUNCT
fsr-3246	232	1	in	in	ADP
fsr-3246	232	2	addition	addition	NOUN
fsr-3246	232	3	,	,	PUNCT
fsr-3246	232	4	the	the	DET
fsr-3246	232	5	table	table	NOUN
fsr-3246	232	6	contains	contain	VERB
fsr-3246	232	7	the	the	DET
fsr-3246	232	8	breakeven	breakeven	NOUN
fsr-3246	232	9	,	,	PUNCT
fsr-3246	232	10	or	or	CCONJ
fsr-3246	232	11	percentage	percentage	NOUN
fsr-3246	232	12	of	of	ADP
fsr-3246	232	13	the	the	DET
fsr-3246	232	14	time	time	NOUN
fsr-3246	232	15	the	the	DET
fsr-3246	232	16	eia	eia	PROPN
fsr-3246	232	17	portfolio	portfolio	NOUN
fsr-3246	232	18	outperformed	outperform	VERB
fsr-3246	232	19	the	the	DET
fsr-3246	232	20	cb	cb	PROPN
fsr-3246	232	21	portfolio	portfolio	PROPN
fsr-3246	232	22	,	,	PUNCT
fsr-3246	232	23	as	as	ADV
fsr-3246	232	24	well	well	ADV
fsr-3246	232	25	as	as	ADP
fsr-3246	232	26	the	the	DET
fsr-3246	232	27	mean	mean	ADJ
fsr-3246	232	28	,	,	PUNCT
fsr-3246	232	29	minimum	minimum	ADJ
fsr-3246	232	30	,	,	PUNCT
fsr-3246	232	31	and	and	CCONJ
fsr-3246	232	32	maximum	maximum	ADJ
fsr-3246	232	33	values	value	NOUN
fsr-3246	232	34	of	of	ADP
fsr-3246	232	35	a	a	DET
fsr-3246	232	36	$	$	SYM
fsr-3246	232	37	1	1	NUM
fsr-3246	232	38	investment	investment	NOUN
fsr-3246	232	39	in	in	ADP
fsr-3246	232	40	the	the	DET
fsr-3246	232	41	cb	cb	PROPN
fsr-3246	232	42	portfolio	portfolio	NOUN
fsr-3246	232	43	.	.	PUNCT
fsr-3246	233	1	it	it	PRON
fsr-3246	233	2	is	be	AUX
fsr-3246	233	3	important	important	ADJ
fsr-3246	233	4	to	to	PART
fsr-3246	233	5	note	note	VERB
fsr-3246	233	6	that	that	SCONJ
fsr-3246	233	7	the	the	DET
fsr-3246	233	8	cb	cb	PROPN
fsr-3246	233	9	portfolio	portfolio	PROPN
fsr-3246	233	10	never	never	ADV
fsr-3246	233	11	lost	lose	VERB
fsr-3246	233	12	money	money	NOUN
fsr-3246	233	13	,	,	PUNCT
fsr-3246	233	14	and	and	CCONJ
fsr-3246	233	15	the	the	DET
fsr-3246	233	16	minimum	minimum	ADJ
fsr-3246	233	17	value	value	NOUN
fsr-3246	233	18	over	over	ADP
fsr-3246	233	19	all	all	DET
fsr-3246	233	20	caps	cap	NOUN
fsr-3246	233	21	and	and	CCONJ
fsr-3246	233	22	horizon	horizon	NOUN
fsr-3246	233	23	periods	period	NOUN
fsr-3246	233	24	was	be	AUX
fsr-3246	233	25	$	$	SYM
fsr-3246	233	26	1.07	1.07	NUM
fsr-3246	233	27	.	.	PUNCT
fsr-3246	234	1	the	the	DET
fsr-3246	234	2	median	median	ADJ
fsr-3246	234	3	value	value	NOUN
fsr-3246	234	4	of	of	ADP
fsr-3246	234	5	the	the	DET
fsr-3246	234	6	cb	cb	PROPN
fsr-3246	234	7	portfolio	portfolio	PROPN
fsr-3246	234	8	ranged	range	VERB
fsr-3246	234	9	from	from	ADP
fsr-3246	234	10	17	17	NUM
fsr-3246	234	11	%	%	NOUN
fsr-3246	234	12	to	to	PART
fsr-3246	234	13	28	28	NUM
fsr-3246	234	14	%	%	NOUN
fsr-3246	234	15	higher	high	ADJ
fsr-3246	234	16	than	than	ADP
fsr-3246	234	17	the	the	DET
fsr-3246	234	18	eia	eia	PROPN
fsr-3246	234	19	portfolio	portfolio	NOUN
fsr-3246	234	20	.	.	PUNCT
fsr-3246	235	1	these	these	DET
fsr-3246	235	2	higher	high	ADJ
fsr-3246	235	3	median	median	ADJ
fsr-3246	235	4	returns	return	NOUN
fsr-3246	235	5	translate	translate	VERB
fsr-3246	235	6	into	into	ADP
fsr-3246	235	7	between	between	ADP
fsr-3246	235	8	1.4	1.4	NUM
fsr-3246	235	9	%	%	NOUN
fsr-3246	235	10	and	and	CCONJ
fsr-3246	235	11	2	2	NUM
fsr-3246	235	12	%	%	NOUN
fsr-3246	235	13	per	per	ADP
fsr-3246	235	14	year	year	NOUN
fsr-3246	235	15	.	.	PUNCT
fsr-3246	236	1	the	the	DET
fsr-3246	236	2	magnitude	magnitude	NOUN
fsr-3246	236	3	of	of	ADP
fsr-3246	236	4	these	these	DET
fsr-3246	236	5	differences	difference	NOUN
fsr-3246	236	6	correlates	correlate	VERB
fsr-3246	236	7	well	well	ADV
fsr-3246	236	8	with	with	ADP
fsr-3246	236	9	the	the	DET
fsr-3246	236	10	underlying	underlie	VERB
fsr-3246	236	11	economics	economic	NOUN
fsr-3246	236	12	discussed	discuss	VERB
fsr-3246	236	13	in	in	ADP
fsr-3246	236	14	section	section	NOUN
fsr-3246	236	15	2	2	NUM
fsr-3246	236	16	and	and	CCONJ
fsr-3246	236	17	illustrated	illustrate	VERB
fsr-3246	236	18	in	in	ADP
fsr-3246	236	19	table	table	NOUN
fsr-3246	236	20	1	1	NUM
fsr-3246	236	21	if	if	SCONJ
fsr-3246	236	22	one	one	NUM
fsr-3246	236	23	were	be	AUX
fsr-3246	236	24	to	to	PART
fsr-3246	236	25	invest	invest	VERB
fsr-3246	236	26	in	in	ADP
fsr-3246	236	27	corporate	corporate	ADJ
fsr-3246	236	28	as	as	SCONJ
fsr-3246	236	29	opposed	oppose	VERB
fsr-3246	236	30	to	to	ADP
fsr-3246	236	31	treasury	treasury	NOUN
fsr-3246	236	32	bonds	bond	NOUN
fsr-3246	236	33	.	.	PUNCT
fsr-3246	237	1	eias	eias	PROPN
fsr-3246	237	2	outperformed	outperform	VERB
fsr-3246	237	3	the	the	DET
fsr-3246	237	4	cb	cb	PROPN
fsr-3246	237	5	portfolios	portfolio	NOUN
fsr-3246	237	6	approximately	approximately	ADV
fsr-3246	237	7	20	20	NUM
fsr-3246	237	8	%	%	NOUN
fsr-3246	237	9	of	of	ADP
fsr-3246	237	10	the	the	DET
fsr-3246	237	11	time	time	NOUN
fsr-3246	237	12	for	for	ADP
fsr-3246	237	13	the	the	DET
fsr-3246	237	14	7	7	NUM
fsr-3246	237	15	%	%	NOUN
fsr-3246	237	16	constant	constant	ADJ
fsr-3246	237	17	cap	cap	NOUN
fsr-3246	237	18	and	and	CCONJ
fsr-3246	237	19	less	less	ADJ
fsr-3246	237	20	than	than	ADP
fsr-3246	237	21	15	15	NUM
fsr-3246	237	22	%	%	NOUN
fsr-3246	237	23	of	of	ADP
fsr-3246	237	24	the	the	DET
fsr-3246	237	25	time	time	NOUN
fsr-3246	237	26	for	for	ADP
fsr-3246	237	27	the	the	DET
fsr-3246	237	28	variable	variable	ADJ
fsr-3246	237	29	cap	cap	NOUN
fsr-3246	237	30	eia	eia	PROPN
fsr-3246	237	31	.	.	PUNCT
fsr-3246	238	1	we	we	PRON
fsr-3246	238	2	performed	perform	VERB
fsr-3246	238	3	two	two	NUM
fsr-3246	238	4	additional	additional	ADJ
fsr-3246	238	5	robustness	robustness	NOUN
fsr-3246	238	6	tests	test	NOUN
fsr-3246	238	7	.	.	PUNCT
fsr-3246	239	1	first	first	ADV
fsr-3246	239	2	,	,	PUNCT
fsr-3246	239	3	option	option	NOUN
fsr-3246	239	4	premiums	premium	NOUN
fsr-3246	239	5	are	be	AUX
fsr-3246	239	6	sensitive	sensitive	ADJ
fsr-3246	239	7	to	to	ADP
fsr-3246	239	8	the	the	DET
fsr-3246	239	9	volatility	volatility	NOUN
fsr-3246	239	10	measures	measure	NOUN
fsr-3246	239	11	assumed	assume	VERB
fsr-3246	239	12	,	,	PUNCT
fsr-3246	239	13	and	and	CCONJ
fsr-3246	239	14	it	it	PRON
fsr-3246	239	15	is	be	AUX
fsr-3246	239	16	possible	possible	ADJ
fsr-3246	239	17	our	our	PRON
fsr-3246	239	18	estimate	estimate	NOUN
fsr-3246	239	19	of	of	ADP
fsr-3246	239	20	volatility	volatility	NOUN
fsr-3246	239	21	based	base	VERB
fsr-3246	239	22	on	on	ADP
fsr-3246	239	23	the	the	DET
fsr-3246	239	24	prior	prior	ADJ
fsr-3246	239	25	60	60	NUM
fsr-3246	239	26	month	month	NOUN
fsr-3246	239	27	volatility	volatility	NOUN
fsr-3246	239	28	is	be	AUX
fsr-3246	239	29	not	not	PART
fsr-3246	239	30	what	what	PRON
fsr-3246	239	31	is	be	AUX
fsr-3246	239	32	reflected	reflect	VERB
fsr-3246	239	33	in	in	ADP
fsr-3246	239	34	market	market	NOUN
fsr-3246	239	35	option	option	NOUN
fsr-3246	239	36	premiums	premium	NOUN
fsr-3246	239	37	.	.	PUNCT
fsr-3246	240	1	as	as	ADP
fsr-3246	240	2	a	a	DET
fsr-3246	240	3	robustness	robustness	NOUN
fsr-3246	240	4	check	check	NOUN
fsr-3246	240	5	we	we	PRON
fsr-3246	240	6	also	also	ADV
fsr-3246	240	7	calculated	calculate	VERB
fsr-3246	240	8	option	option	NOUN
fsr-3246	240	9	prices	price	NOUN
fsr-3246	240	10	using	use	VERB
fsr-3246	240	11	two	two	NUM
fsr-3246	240	12	alternative	alternative	ADJ
fsr-3246	240	13	measures	measure	NOUN
fsr-3246	240	14	of	of	ADP
fsr-3246	240	15	volatility	volatility	NOUN
fsr-3246	240	16	and	and	CCONJ
fsr-3246	240	17	compared	compare	VERB
fsr-3246	240	18	to	to	ADP
fsr-3246	240	19	the	the	DET
fsr-3246	240	20	variable	variable	ADJ
fsr-3246	240	21	cap	cap	NOUN
fsr-3246	240	22	eia	eia	PROPN
fsr-3246	240	23	.	.	PUNCT
fsr-3246	241	1	the	the	DET
fsr-3246	241	2	first	first	ADJ
fsr-3246	241	3	measure	measure	NOUN
fsr-3246	241	4	follows	follow	VERB
fsr-3246	241	5	a	a	DET
fsr-3246	241	6	similar	similar	ADJ
fsr-3246	241	7	approach	approach	NOUN
fsr-3246	241	8	to	to	ADP
fsr-3246	241	9	edwards	edwards	PROPN
fsr-3246	241	10	and	and	CCONJ
fsr-3246	241	11	swidler	swidler	NOUN
fsr-3246	241	12	(	(	PUNCT
fsr-3246	241	13	2005	2005	NUM
fsr-3246	241	14	)	)	PUNCT
fsr-3246	241	15	and	and	CCONJ
fsr-3246	241	16	estimates	estimate	VERB
fsr-3246	241	17	an	an	DET
fsr-3246	241	18	annual	annual	ADJ
fsr-3246	241	19	standard	standard	ADJ
fsr-3246	241	20	deviation	deviation	NOUN
fsr-3246	241	21	using	use	VERB
fsr-3246	241	22	the	the	DET
fsr-3246	241	23	previous	previous	ADJ
fsr-3246	241	24	12	12	NUM
fsr-3246	241	25	months	month	NOUN
fsr-3246	241	26	and	and	CCONJ
fsr-3246	241	27	future	future	ADJ
fsr-3246	241	28	12	12	NUM
fsr-3246	241	29	months	month	NOUN
fsr-3246	241	30	standard	standard	ADJ
fsr-3246	241	31	deviations	deviation	NOUN
fsr-3246	241	32	.	.	PUNCT
fsr-3246	242	1	there	there	PRON
fsr-3246	242	2	was	be	VERB
fsr-3246	242	3	no	no	DET
fsr-3246	242	4	significant	significant	ADJ
fsr-3246	242	5	impact	impact	NOUN
fsr-3246	242	6	on	on	ADP
fsr-3246	242	7	the	the	DET
fsr-3246	242	8	cb	cb	PROPN
fsr-3246	242	9	portfolio	portfolio	PROPN
fsr-3246	242	10	results	result	NOUN
fsr-3246	242	11	and	and	CCONJ
fsr-3246	242	12	the	the	DET
fsr-3246	242	13	ep	ep	PROPN
fsr-3246	242	14	portfolio	portfolio	NOUN
fsr-3246	242	15	actually	actually	ADV
fsr-3246	242	16	performed	perform	VERB
fsr-3246	242	17	just	just	ADV
fsr-3246	242	18	slightly	slightly	ADV
fsr-3246	242	19	better	well	ADV
fsr-3246	242	20	using	use	VERB
fsr-3246	242	21	the	the	DET
fsr-3246	242	22	weighted	weight	VERB
fsr-3246	242	23	historical	historical	ADJ
fsr-3246	242	24	and	and	CCONJ
fsr-3246	242	25	future	future	ADJ
fsr-3246	242	26	standard	standard	ADJ
fsr-3246	242	27	deviations	deviation	NOUN
fsr-3246	242	28	.	.	PUNCT
fsr-3246	243	1	as	as	ADP
fsr-3246	243	2	a	a	DET
fsr-3246	243	3	second	second	ADJ
fsr-3246	243	4	check	check	NOUN
fsr-3246	243	5	,	,	PUNCT
fsr-3246	243	6	we	we	PRON
fsr-3246	243	7	used	use	VERB
fsr-3246	243	8	the	the	DET
fsr-3246	243	9	implied	imply	VERB
fsr-3246	243	10	volatility	volatility	NOUN
fsr-3246	243	11	contained	contain	VERB
fsr-3246	243	12	in	in	ADP
fsr-3246	243	13	the	the	DET
fsr-3246	243	14	table	table	NOUN
fsr-3246	243	15	6	6	NUM
fsr-3246	243	16	ending	end	VERB
fsr-3246	243	17	wealth	wealth	NOUN
fsr-3246	243	18	ratio	ratio	NOUN
fsr-3246	243	19	of	of	ADP
fsr-3246	243	20	calls	call	NOUN
fsr-3246	243	21	and	and	CCONJ
fsr-3246	243	22	bond	bond	NOUN
fsr-3246	243	23	(	(	PUNCT
fsr-3246	243	24	cb	cb	PROPN
fsr-3246	243	25	)	)	PUNCT
fsr-3246	243	26	portfolio	portfolio	NOUN
fsr-3246	243	27	to	to	PART
fsr-3246	243	28	eia	eia	PROPN
fsr-3246	243	29	years	year	NOUN
fsr-3246	243	30	percentile	percentile	PROPN
fsr-3246	243	31	cb	cb	PROPN
fsr-3246	243	32	portfolio/7	portfolio/7	PROPN
fsr-3246	243	33	%	%	NOUN
fsr-3246	243	34	cap	cap	NOUN
fsr-3246	243	35	eia	eia	PROPN
fsr-3246	243	36	cb	cb	PROPN
fsr-3246	243	37	portfolio	portfolio	PROPN
fsr-3246	243	38	value	value	VERB
fsr-3246	243	39	1	1	NUM
fsr-3246	243	40	5	5	NUM
fsr-3246	243	41	10	10	NUM
fsr-3246	243	42	25	25	NUM
fsr-3246	243	43	50	50	NUM
fsr-3246	243	44	75	75	NUM
fsr-3246	243	45	90	90	NUM
fsr-3246	243	46	95	95	NUM
fsr-3246	243	47	99	99	NUM
fsr-3246	243	48	n	n	CCONJ
fsr-3246	243	49	be	be	VERB
fsr-3246	243	50	mean	mean	PROPN
fsr-3246	243	51	min	min	PROPN
fsr-3246	243	52	max	max	PROPN
fsr-3246	243	53	11	11	NUM
fsr-3246	243	54	0.83	0.83	NUM
fsr-3246	243	55	0.84	0.84	NUM
fsr-3246	243	56	0.87	0.87	NUM
fsr-3246	243	57	1.03	1.03	NUM
fsr-3246	243	58	1.17	1.17	NUM
fsr-3246	243	59	1.43	1.43	NUM
fsr-3246	243	60	1.79	1.79	NUM
fsr-3246	243	61	1.84	1.84	NUM
fsr-3246	243	62	1.88	1.88	NUM
fsr-3246	243	63	829	829	NUM
fsr-3246	243	64	21.5	21.5	NUM
fsr-3246	243	65	%	%	NOUN
fsr-3246	243	66	$	$	SYM
fsr-3246	243	67	2.01	2.01	NUM
fsr-3246	243	68	$	$	SYM
fsr-3246	243	69	1.07	1.07	NUM
fsr-3246	243	70	$	$	SYM
fsr-3246	243	71	3.41	3.41	NUM
fsr-3246	243	72	12	12	NUM
fsr-3246	243	73	0.82	0.82	NUM
fsr-3246	243	74	0.83	0.83	NUM
fsr-3246	243	75	0.87	0.87	NUM
fsr-3246	243	76	1.04	1.04	NUM
fsr-3246	243	77	1.20	1.20	NUM
fsr-3246	243	78	1.49	1.49	NUM
fsr-3246	243	79	1.87	1.87	NUM
fsr-3246	243	80	1.92	1.92	NUM
fsr-3246	243	81	1.95	1.95	NUM
fsr-3246	243	82	817	817	NUM
fsr-3246	243	83	21.4	21.4	NUM
fsr-3246	243	84	%	%	NOUN
fsr-3246	243	85	$	$	SYM
fsr-3246	243	86	2.16	2.16	NUM
fsr-3246	244	1	$	$	SYM
fsr-3246	244	2	1.09	1.09	NUM
fsr-3246	244	3	$	$	SYM
fsr-3246	244	4	3.80	3.80	NUM
fsr-3246	244	5	13	13	NUM
fsr-3246	244	6	0.81	0.81	NUM
fsr-3246	244	7	0.83	0.83	NUM
fsr-3246	244	8	0.87	0.87	NUM
fsr-3246	244	9	1.04	1.04	NUM
fsr-3246	244	10	1.23	1.23	NUM
fsr-3246	244	11	1.56	1.56	NUM
fsr-3246	244	12	1.94	1.94	NUM
fsr-3246	244	13	1.99	1.99	NUM
fsr-3246	244	14	2.04	2.04	NUM
fsr-3246	244	15	805	805	NUM
fsr-3246	244	16	20.5	20.5	NUM
fsr-3246	244	17	%	%	NOUN
fsr-3246	244	18	$	$	SYM
fsr-3246	244	19	2.32	2.32	NUM
fsr-3246	244	20	$	$	SYM
fsr-3246	244	21	1.10	1.10	NUM
fsr-3246	244	22	$	$	SYM
fsr-3246	244	23	4.22	4.22	NUM
fsr-3246	244	24	14	14	NUM
fsr-3246	244	25	0.80	0.80	NUM
fsr-3246	244	26	0.82	0.82	NUM
fsr-3246	244	27	0.87	0.87	NUM
fsr-3246	244	28	1.06	1.06	NUM
fsr-3246	244	29	1.25	1.25	NUM
fsr-3246	244	30	1.65	1.65	NUM
fsr-3246	244	31	2.01	2.01	NUM
fsr-3246	244	32	2.06	2.06	NUM
fsr-3246	244	33	2.12	2.12	NUM
fsr-3246	244	34	793	793	NUM
fsr-3246	244	35	20.1	20.1	NUM
fsr-3246	244	36	%	%	NOUN
fsr-3246	244	37	$	$	SYM
fsr-3246	244	38	2.50	2.50	NUM
fsr-3246	244	39	$	$	SYM
fsr-3246	244	40	1.15	1.15	NUM
fsr-3246	244	41	$	$	SYM
fsr-3246	244	42	4.68	4.68	NUM
fsr-3246	244	43	15	15	NUM
fsr-3246	244	44	0.80	0.80	NUM
fsr-3246	244	45	0.82	0.82	NUM
fsr-3246	244	46	0.87	0.87	NUM
fsr-3246	244	47	1.06	1.06	NUM
fsr-3246	244	48	1.28	1.28	NUM
fsr-3246	244	49	1.74	1.74	NUM
fsr-3246	244	50	2.08	2.08	NUM
fsr-3246	244	51	2.14	2.14	NUM
fsr-3246	244	52	2.20	2.20	NUM
fsr-3246	244	53	781	781	NUM
fsr-3246	244	54	19.2	19.2	NUM
fsr-3246	244	55	%	%	NOUN
fsr-3246	244	56	$	$	SYM
fsr-3246	244	57	2.69	2.69	NUM
fsr-3246	244	58	$	$	SYM
fsr-3246	244	59	1.20	1.20	NUM
fsr-3246	244	60	$	$	SYM
fsr-3246	244	61	5.17	5.17	NUM
fsr-3246	244	62	percentile	percentile	ADJ
fsr-3246	244	63	cb	cb	PROPN
fsr-3246	244	64	portfolio/5	portfolio/5	PROPN
fsr-3246	244	65	%	%	NOUN
fsr-3246	244	66	cap	cap	NOUN
fsr-3246	244	67	eia	eia	PROPN
fsr-3246	244	68	cb	cb	PROPN
fsr-3246	244	69	portfolio	portfolio	PROPN
fsr-3246	244	70	value	value	VERB
fsr-3246	244	71	11	11	NUM
fsr-3246	244	72	0.83	0.83	NUM
fsr-3246	244	73	0.84	0.84	NUM
fsr-3246	244	74	0.87	0.87	NUM
fsr-3246	244	75	1.03	1.03	NUM
fsr-3246	244	76	1.17	1.17	NUM
fsr-3246	244	77	1.43	1.43	NUM
fsr-3246	244	78	1.79	1.79	NUM
fsr-3246	244	79	1.84	1.84	NUM
fsr-3246	244	80	1.88	1.88	NUM
fsr-3246	244	81	829	829	NUM
fsr-3246	244	82	17.5	17.5	NUM
fsr-3246	244	83	%	%	NOUN
fsr-3246	244	84	$	$	SYM
fsr-3246	244	85	1.91	1.91	NUM
fsr-3246	244	86	$	$	SYM
fsr-3246	244	87	1.07	1.07	NUM
fsr-3246	244	88	$	$	SYM
fsr-3246	244	89	3.19	3.19	NUM
fsr-3246	244	90	12	12	NUM
fsr-3246	244	91	0.82	0.82	NUM
fsr-3246	244	92	0.83	0.83	NUM
fsr-3246	244	93	0.87	0.87	NUM
fsr-3246	244	94	1.04	1.04	NUM
fsr-3246	244	95	1.20	1.20	NUM
fsr-3246	244	96	1.49	1.49	NUM
fsr-3246	244	97	1.87	1.87	NUM
fsr-3246	244	98	1.92	1.92	NUM
fsr-3246	244	99	1.95	1.95	NUM
fsr-3246	244	100	817	817	NUM
fsr-3246	244	101	17.1	17.1	NUM
fsr-3246	244	102	%	%	NOUN
fsr-3246	244	103	$	$	SYM
fsr-3246	244	104	2.04	2.04	NUM
fsr-3246	244	105	$	$	SYM
fsr-3246	244	106	1.11	1.11	NUM
fsr-3246	244	107	$	$	SYM
fsr-3246	244	108	3.51	3.51	NUM
fsr-3246	244	109	13	13	NUM
fsr-3246	244	110	0.81	0.81	NUM
fsr-3246	244	111	0.83	0.83	NUM
fsr-3246	244	112	0.87	0.87	NUM
fsr-3246	244	113	1.04	1.04	NUM
fsr-3246	244	114	1.23	1.23	NUM
fsr-3246	244	115	1.56	1.56	NUM
fsr-3246	244	116	1.94	1.94	NUM
fsr-3246	244	117	1.99	1.99	NUM
fsr-3246	244	118	2.04	2.04	NUM
fsr-3246	244	119	805	805	NUM
fsr-3246	244	120	16.4	16.4	NUM
fsr-3246	244	121	%	%	NOUN
fsr-3246	244	122	$	$	SYM
fsr-3246	244	123	2.19	2.19	NUM
fsr-3246	244	124	$	$	SYM
fsr-3246	244	125	1.12	1.12	NUM
fsr-3246	244	126	$	$	SYM
fsr-3246	244	127	3.86	3.86	NUM
fsr-3246	244	128	14	14	NUM
fsr-3246	244	129	0.80	0.80	NUM
fsr-3246	244	130	0.82	0.82	NUM
fsr-3246	244	131	0.87	0.87	NUM
fsr-3246	244	132	1.06	1.06	NUM
fsr-3246	244	133	1.25	1.25	NUM
fsr-3246	244	134	1.65	1.65	NUM
fsr-3246	244	135	2.01	2.01	NUM
fsr-3246	244	136	2.06	2.06	NUM
fsr-3246	244	137	2.12	2.12	NUM
fsr-3246	244	138	793	793	NUM
fsr-3246	244	139	15.6	15.6	NUM
fsr-3246	244	140	%	%	NOUN
fsr-3246	244	141	$	$	SYM
fsr-3246	244	142	2.34	2.34	NUM
fsr-3246	244	143	$	$	SYM
fsr-3246	244	144	1.16	1.16	NUM
fsr-3246	244	145	$	$	SYM
fsr-3246	244	146	4.23	4.23	NUM
fsr-3246	244	147	15	15	NUM
fsr-3246	244	148	0.80	0.80	NUM
fsr-3246	244	149	0.82	0.82	NUM
fsr-3246	244	150	0.87	0.87	NUM
fsr-3246	244	151	1.06	1.06	NUM
fsr-3246	244	152	1.28	1.28	NUM
fsr-3246	244	153	1.74	1.74	NUM
fsr-3246	244	154	2.08	2.08	NUM
fsr-3246	244	155	2.14	2.14	NUM
fsr-3246	244	156	2.20	2.20	NUM
fsr-3246	244	157	781	781	NUM
fsr-3246	244	158	15.2	15.2	NUM
fsr-3246	244	159	%	%	NOUN
fsr-3246	244	160	$	$	SYM
fsr-3246	244	161	2.50	2.50	NUM
fsr-3246	244	162	$	$	SYM
fsr-3246	244	163	1.20	1.20	NUM
fsr-3246	244	164	$	$	SYM
fsr-3246	244	165	4.61	4.61	NUM
fsr-3246	244	166	percentile	percentile	ADJ
fsr-3246	244	167	cb	cb	PROPN
fsr-3246	244	168	portfolio/(t	portfolio/(t	NOUN
fsr-3246	244	169	-	-	PUNCT
fsr-3246	244	170	bond	bond	NOUN
fsr-3246	244	171	�	�	NOUN
fsr-3246	244	172	2.5	2.5	NUM
fsr-3246	244	173	%	%	NOUN
fsr-3246	244	174	)	)	PUNCT
fsr-3246	244	175	cap	cap	NOUN
fsr-3246	244	176	eia	eia	PROPN
fsr-3246	244	177	cb	cb	PROPN
fsr-3246	244	178	portfolio	portfolio	PROPN
fsr-3246	244	179	value	value	VERB
fsr-3246	244	180	11	11	NUM
fsr-3246	244	181	0.91	0.91	NUM
fsr-3246	244	182	0.92	0.92	NUM
fsr-3246	244	183	0.95	0.95	NUM
fsr-3246	244	184	1.07	1.07	NUM
fsr-3246	244	185	1.16	1.16	NUM
fsr-3246	244	186	1.31	1.31	NUM
fsr-3246	244	187	1.48	1.48	NUM
fsr-3246	244	188	1.51	1.51	NUM
fsr-3246	244	189	1.54	1.54	NUM
fsr-3246	244	190	829	829	NUM
fsr-3246	244	191	14.5	14.5	NUM
fsr-3246	244	192	%	%	NOUN
fsr-3246	244	193	$	$	SYM
fsr-3246	244	194	2.05	2.05	NUM
fsr-3246	244	195	$	$	SYM
fsr-3246	244	196	1.07	1.07	NUM
fsr-3246	244	197	$	$	SYM
fsr-3246	244	198	4.03	4.03	NUM
fsr-3246	244	199	12	12	NUM
fsr-3246	244	200	0.90	0.90	NUM
fsr-3246	244	201	0.92	0.92	NUM
fsr-3246	244	202	0.95	0.95	NUM
fsr-3246	244	203	1.08	1.08	NUM
fsr-3246	244	204	1.18	1.18	NUM
fsr-3246	244	205	1.35	1.35	NUM
fsr-3246	244	206	1.52	1.52	NUM
fsr-3246	244	207	1.56	1.56	NUM
fsr-3246	244	208	1.58	1.58	NUM
fsr-3246	244	209	817	817	NUM
fsr-3246	244	210	14.4	14.4	NUM
fsr-3246	244	211	%	%	NOUN
fsr-3246	244	212	$	$	SYM
fsr-3246	244	213	2.21	2.21	NUM
fsr-3246	244	214	$	$	SYM
fsr-3246	244	215	1.10	1.10	NUM
fsr-3246	244	216	$	$	SYM
fsr-3246	244	217	4.58	4.58	NUM
fsr-3246	244	218	13	13	NUM
fsr-3246	244	219	0.90	0.90	NUM
fsr-3246	244	220	0.92	0.92	NUM
fsr-3246	244	221	0.96	0.96	NUM
fsr-3246	244	222	1.09	1.09	NUM
fsr-3246	244	223	1.20	1.20	NUM
fsr-3246	244	224	1.38	1.38	NUM
fsr-3246	244	225	1.57	1.57	NUM
fsr-3246	244	226	1.60	1.60	NUM
fsr-3246	244	227	1.63	1.63	NUM
fsr-3246	244	228	805	805	NUM
fsr-3246	244	229	14.3	14.3	NUM
fsr-3246	244	230	%	%	NOUN
fsr-3246	245	1	$	$	SYM
fsr-3246	245	2	2.38	2.38	NUM
fsr-3246	245	3	$	$	SYM
fsr-3246	245	4	1.12	1.12	NUM
fsr-3246	245	5	$	$	SYM
fsr-3246	245	6	5.13	5.13	NUM
fsr-3246	245	7	14	14	NUM
fsr-3246	245	8	0.90	0.90	NUM
fsr-3246	245	9	0.92	0.92	NUM
fsr-3246	245	10	0.96	0.96	NUM
fsr-3246	245	11	1.10	1.10	NUM
fsr-3246	245	12	1.23	1.23	NUM
fsr-3246	245	13	1.44	1.44	NUM
fsr-3246	245	14	1.62	1.62	NUM
fsr-3246	245	15	1.64	1.64	NUM
fsr-3246	245	16	1.68	1.68	NUM
fsr-3246	245	17	793	793	NUM
fsr-3246	245	18	13.5	13.5	NUM
fsr-3246	245	19	%	%	NOUN
fsr-3246	245	20	$	$	SYM
fsr-3246	245	21	2.57	2.57	NUM
fsr-3246	245	22	$	$	SYM
fsr-3246	245	23	1.14	1.14	NUM
fsr-3246	245	24	$	$	SYM
fsr-3246	245	25	5.76	5.76	NUM
fsr-3246	245	26	15	15	NUM
fsr-3246	245	27	0.90	0.90	NUM
fsr-3246	245	28	0.92	0.92	NUM
fsr-3246	245	29	0.97	0.97	NUM
fsr-3246	245	30	1.11	1.11	NUM
fsr-3246	245	31	1.25	1.25	NUM
fsr-3246	245	32	1.49	1.49	NUM
fsr-3246	245	33	1.66	1.66	NUM
fsr-3246	245	34	1.69	1.69	NUM
fsr-3246	245	35	1.72	1.72	NUM
fsr-3246	245	36	781	781	NUM
fsr-3246	245	37	13.6	13.6	NUM
fsr-3246	245	38	%	%	NOUN
fsr-3246	245	39	$	$	SYM
fsr-3246	245	40	2.77	2.77	NUM
fsr-3246	245	41	$	$	SYM
fsr-3246	245	42	1.16	1.16	NUM
fsr-3246	245	43	$	$	SYM
fsr-3246	245	44	6.35	6.35	NUM
fsr-3246	245	45	be	be	AUX
fsr-3246	245	46	,	,	PUNCT
fsr-3246	245	47	breakeven	breakeven	PROPN
fsr-3246	245	48	percentile	percentile	NOUN
fsr-3246	245	49	.	.	PUNCT
fsr-3246	246	1	424	424	NUM
fsr-3246	246	2	a.	a.	NOUN
fsr-3246	246	3	terry	terry	PROPN
fsr-3246	246	4	,	,	PUNCT
fsr-3246	246	5	e.	e.	PROPN
fsr-3246	246	6	elder	elder	PROPN
fsr-3246	246	7	/	/	SYM
fsr-3246	246	8	financial	financial	ADJ
fsr-3246	246	9	services	service	NOUN
fsr-3246	246	10	review	review	VERB
fsr-3246	246	11	24	24	NUM
fsr-3246	246	12	(	(	PUNCT
fsr-3246	246	13	2015	2015	NUM
fsr-3246	246	14	)	)	PUNCT
fsr-3246	246	15	411–428	411–428	NUM
fsr-3246	246	16	cboe	cboe	PROPN
fsr-3246	246	17	volatility	volatility	NOUN
fsr-3246	246	18	index	index	NOUN
fsr-3246	246	19	,	,	PUNCT
fsr-3246	246	20	or	or	CCONJ
fsr-3246	246	21	vix	vix	PROPN
fsr-3246	246	22	,	,	PUNCT
fsr-3246	246	23	which	which	PRON
fsr-3246	246	24	is	be	AUX
fsr-3246	246	25	based	base	VERB
fsr-3246	246	26	on	on	ADP
fsr-3246	246	27	real	real	ADJ
fsr-3246	246	28	-	-	PUNCT
fsr-3246	246	29	time	time	NOUN
fsr-3246	246	30	prices	price	NOUN
fsr-3246	246	31	of	of	ADP
fsr-3246	246	32	options	option	NOUN
fsr-3246	246	33	on	on	ADP
fsr-3246	246	34	the	the	DET
fsr-3246	246	35	s&p	s&p	PROPN
fsr-3246	246	36	500	500	NUM
fsr-3246	246	37	.	.	PUNCT
fsr-3246	247	1	the	the	DET
fsr-3246	247	2	vix	vix	PROPN
fsr-3246	247	3	data	datum	NOUN
fsr-3246	247	4	are	be	AUX
fsr-3246	247	5	available	available	ADJ
fsr-3246	247	6	beginning	begin	VERB
fsr-3246	247	7	in	in	ADP
fsr-3246	247	8	1990	1990	NUM
fsr-3246	247	9	,	,	PUNCT
fsr-3246	247	10	and	and	CCONJ
fsr-3246	247	11	so	so	ADV
fsr-3246	247	12	this	this	DET
fsr-3246	247	13	sample	sample	NOUN
fsr-3246	247	14	contains	contain	VERB
fsr-3246	247	15	only	only	ADV
fsr-3246	247	16	about	about	ADV
fsr-3246	247	17	one	one	NUM
fsr-3246	247	18	-	-	PUNCT
fsr-3246	247	19	sixth	sixth	NOUN
fsr-3246	247	20	as	as	ADP
fsr-3246	247	21	many	many	ADJ
fsr-3246	247	22	rolling	rolling	ADJ
fsr-3246	247	23	investment	investment	NOUN
fsr-3246	247	24	periods	period	NOUN
fsr-3246	247	25	as	as	ADP
fsr-3246	247	26	our	our	PRON
fsr-3246	247	27	original	original	ADJ
fsr-3246	247	28	sample	sample	NOUN
fsr-3246	247	29	.	.	PUNCT
fsr-3246	248	1	the	the	DET
fsr-3246	248	2	median	median	ADJ
fsr-3246	248	3	wealth	wealth	NOUN
fsr-3246	248	4	ratios	ratio	NOUN
fsr-3246	248	5	to	to	ADP
fsr-3246	248	6	the	the	DET
fsr-3246	248	7	variable	variable	ADJ
fsr-3246	248	8	cap	cap	NOUN
fsr-3246	248	9	eia	eia	NOUN
fsr-3246	248	10	using	use	VERB
fsr-3246	248	11	the	the	DET
fsr-3246	248	12	vix	vix	PROPN
fsr-3246	248	13	volatility	volatility	NOUN
fsr-3246	248	14	measures	measure	NOUN
fsr-3246	248	15	were	be	AUX
fsr-3246	248	16	approximately	approximately	ADV
fsr-3246	248	17	25	25	NUM
fsr-3246	248	18	%	%	NOUN
fsr-3246	248	19	and	and	CCONJ
fsr-3246	248	20	3	3	NUM
fsr-3246	248	21	%	%	NOUN
fsr-3246	248	22	lower	low	ADJ
fsr-3246	248	23	than	than	ADP
fsr-3246	248	24	the	the	DET
fsr-3246	248	25	ratios	ratio	NOUN
fsr-3246	248	26	obtained	obtain	VERB
fsr-3246	248	27	using	use	VERB
fsr-3246	248	28	our	our	PRON
fsr-3246	248	29	historical	historical	ADJ
fsr-3246	248	30	volatility	volatility	NOUN
fsr-3246	248	31	estimates	estimate	NOUN
fsr-3246	248	32	for	for	ADP
fsr-3246	248	33	the	the	DET
fsr-3246	248	34	ep	ep	PROPN
fsr-3246	248	35	and	and	CCONJ
fsr-3246	248	36	cb	cb	PROPN
fsr-3246	248	37	portfolios	portfolio	NOUN
fsr-3246	248	38	,	,	PUNCT
fsr-3246	248	39	respectively	respectively	ADV
fsr-3246	248	40	.	.	PUNCT
fsr-3246	249	1	these	these	DET
fsr-3246	249	2	results	result	NOUN
fsr-3246	249	3	make	make	VERB
fsr-3246	249	4	intuitive	intuitive	ADJ
fsr-3246	249	5	sense	sense	NOUN
fsr-3246	249	6	because	because	SCONJ
fsr-3246	249	7	over	over	ADP
fsr-3246	249	8	this	this	DET
fsr-3246	249	9	more	more	ADV
fsr-3246	249	10	recent	recent	ADJ
fsr-3246	249	11	time	time	NOUN
fsr-3246	249	12	period	period	NOUN
fsr-3246	249	13	the	the	DET
fsr-3246	249	14	vix	vix	PROPN
fsr-3246	249	15	volatility	volatility	NOUN
fsr-3246	249	16	measures	measure	NOUN
fsr-3246	249	17	were	be	AUX
fsr-3246	249	18	approximately	approximately	ADV
fsr-3246	249	19	4	4	NUM
fsr-3246	249	20	%	%	NOUN
fsr-3246	249	21	higher	high	ADJ
fsr-3246	249	22	than	than	ADP
fsr-3246	249	23	our	our	PRON
fsr-3246	249	24	estimates	estimate	NOUN
fsr-3246	249	25	of	of	ADP
fsr-3246	249	26	volatility	volatility	NOUN
fsr-3246	249	27	based	base	VERB
fsr-3246	249	28	on	on	ADP
fsr-3246	249	29	historical	historical	ADJ
fsr-3246	249	30	standard	standard	ADJ
fsr-3246	249	31	deviations	deviation	NOUN
fsr-3246	249	32	,	,	PUNCT
fsr-3246	249	33	and	and	CCONJ
fsr-3246	249	34	thus	thus	ADV
fsr-3246	249	35	the	the	DET
fsr-3246	249	36	market	market	NOUN
fsr-3246	249	37	was	be	AUX
fsr-3246	249	38	pricing	price	VERB
fsr-3246	249	39	options	option	NOUN
fsr-3246	249	40	more	more	ADV
fsr-3246	249	41	expensively	expensively	ADV
fsr-3246	249	42	than	than	SCONJ
fsr-3246	249	43	our	our	PRON
fsr-3246	249	44	estimated	estimate	VERB
fsr-3246	249	45	volatility	volatility	NOUN
fsr-3246	249	46	implied	imply	VERB
fsr-3246	249	47	.	.	PUNCT
fsr-3246	250	1	for	for	ADP
fsr-3246	250	2	the	the	DET
fsr-3246	250	3	ep	ep	PROPN
fsr-3246	250	4	strategy	strategy	NOUN
fsr-3246	250	5	,	,	PUNCT
fsr-3246	250	6	portfolio	portfolio	NOUN
fsr-3246	250	7	insurance	insurance	NOUN
fsr-3246	250	8	was	be	AUX
fsr-3246	250	9	more	more	ADV
fsr-3246	250	10	expensive	expensive	ADJ
fsr-3246	250	11	and	and	CCONJ
fsr-3246	250	12	had	have	VERB
fsr-3246	250	13	a	a	DET
fsr-3246	250	14	larger	large	ADJ
fsr-3246	250	15	impact	impact	NOUN
fsr-3246	250	16	.	.	PUNCT
fsr-3246	251	1	for	for	ADP
fsr-3246	251	2	the	the	DET
fsr-3246	251	3	cb	cb	PROPN
fsr-3246	251	4	strategy	strategy	NOUN
fsr-3246	251	5	,	,	PUNCT
fsr-3246	251	6	both	both	CCONJ
fsr-3246	251	7	the	the	DET
fsr-3246	251	8	purchased	purchase	VERB
fsr-3246	251	9	and	and	CCONJ
fsr-3246	251	10	written	write	VERB
fsr-3246	251	11	options	option	NOUN
fsr-3246	251	12	were	be	AUX
fsr-3246	251	13	more	more	ADV
fsr-3246	251	14	expensive	expensive	ADJ
fsr-3246	251	15	,	,	PUNCT
fsr-3246	251	16	and	and	CCONJ
fsr-3246	251	17	so	so	ADV
fsr-3246	251	18	the	the	DET
fsr-3246	251	19	net	net	ADJ
fsr-3246	251	20	effect	effect	NOUN
fsr-3246	251	21	was	be	AUX
fsr-3246	251	22	small	small	ADJ
fsr-3246	251	23	.	.	PUNCT
fsr-3246	252	1	as	as	ADP
fsr-3246	252	2	a	a	DET
fsr-3246	252	3	second	second	ADJ
fsr-3246	252	4	robustness	robustness	NOUN
fsr-3246	252	5	test	test	NOUN
fsr-3246	252	6	we	we	PRON
fsr-3246	252	7	examined	examine	VERB
fsr-3246	252	8	the	the	DET
fsr-3246	252	9	impact	impact	NOUN
fsr-3246	252	10	of	of	ADP
fsr-3246	252	11	using	use	VERB
fsr-3246	252	12	the	the	DET
fsr-3246	252	13	1957–2012	1957–2012	NUM
fsr-3246	252	14	time	time	NOUN
fsr-3246	252	15	period	period	NOUN
fsr-3246	252	16	rather	rather	ADV
fsr-3246	252	17	than	than	ADP
fsr-3246	252	18	our	our	PRON
fsr-3246	252	19	original	original	ADJ
fsr-3246	252	20	1928–2012	1928–2012	NUM
fsr-3246	252	21	time	time	NOUN
fsr-3246	252	22	period	period	NOUN
fsr-3246	252	23	.	.	PUNCT
fsr-3246	253	1	there	there	PRON
fsr-3246	253	2	are	be	VERB
fsr-3246	253	3	a	a	DET
fsr-3246	253	4	couple	couple	NOUN
fsr-3246	253	5	of	of	ADP
fsr-3246	253	6	reasons	reason	NOUN
fsr-3246	253	7	for	for	ADP
fsr-3246	253	8	doing	do	VERB
fsr-3246	253	9	so	so	ADV
fsr-3246	253	10	.	.	PUNCT
fsr-3246	254	1	even	even	ADV
fsr-3246	254	2	though	though	SCONJ
fsr-3246	254	3	ibbotson	ibbotson	PROPN
fsr-3246	254	4	associates	associates	PROPN
fsr-3246	254	5	(	(	PUNCT
fsr-3246	254	6	2013	2013	NUM
fsr-3246	254	7	)	)	PUNCT
fsr-3246	254	8	reports	report	VERB
fsr-3246	254	9	equity	equity	NOUN
fsr-3246	254	10	returns	return	NOUN
fsr-3246	254	11	linked	link	VERB
fsr-3246	254	12	back	back	ADV
fsr-3246	254	13	to	to	ADP
fsr-3246	254	14	1928	1928	NUM
fsr-3246	254	15	,	,	PUNCT
fsr-3246	254	16	as	as	SCONJ
fsr-3246	254	17	noted	note	VERB
fsr-3246	254	18	in	in	ADP
fsr-3246	254	19	reichenstein	reichenstein	NOUN
fsr-3246	254	20	(	(	PUNCT
fsr-3246	254	21	2009	2009	NUM
fsr-3246	254	22	)	)	PUNCT
fsr-3246	254	23	the	the	DET
fsr-3246	254	24	s&p	s&p	PROPN
fsr-3246	254	25	500	500	NUM
fsr-3246	254	26	composite	composite	NOUN
fsr-3246	254	27	contained	contain	VERB
fsr-3246	254	28	only	only	ADV
fsr-3246	254	29	90	90	NUM
fsr-3246	254	30	stocks	stock	NOUN
fsr-3246	254	31	before	before	ADP
fsr-3246	254	32	1957	1957	NUM
fsr-3246	254	33	.	.	PUNCT
fsr-3246	255	1	in	in	ADP
fsr-3246	255	2	addition	addition	NOUN
fsr-3246	255	3	,	,	PUNCT
fsr-3246	255	4	our	our	PRON
fsr-3246	255	5	original	original	ADJ
fsr-3246	255	6	extended	extend	VERB
fsr-3246	255	7	time	time	NOUN
fsr-3246	255	8	period	period	NOUN
fsr-3246	255	9	of	of	ADP
fsr-3246	255	10	84	84	NUM
fsr-3246	255	11	years	year	NOUN
fsr-3246	255	12	includes	include	VERB
fsr-3246	255	13	12	12	NUM
fsr-3246	255	14	years	year	NOUN
fsr-3246	255	15	,	,	PUNCT
fsr-3246	255	16	or	or	CCONJ
fsr-3246	255	17	14	14	NUM
fsr-3246	255	18	%	%	NOUN
fsr-3246	255	19	,	,	PUNCT
fsr-3246	255	20	from	from	ADP
fsr-3246	255	21	the	the	DET
fsr-3246	255	22	great	great	ADJ
fsr-3246	255	23	depression	depression	NOUN
fsr-3246	255	24	.	.	PUNCT
fsr-3246	256	1	if	if	SCONJ
fsr-3246	256	2	this	this	PRON
fsr-3246	256	3	is	be	AUX
fsr-3246	256	4	considered	consider	VERB
fsr-3246	256	5	an	an	DET
fsr-3246	256	6	anomaly	anomaly	NOUN
fsr-3246	256	7	or	or	CCONJ
fsr-3246	256	8	highly	highly	ADV
fsr-3246	256	9	unlikely	unlikely	ADJ
fsr-3246	256	10	event	event	NOUN
fsr-3246	256	11	,	,	PUNCT
fsr-3246	256	12	then	then	ADV
fsr-3246	256	13	our	our	PRON
fsr-3246	256	14	sample	sample	NOUN
fsr-3246	256	15	may	may	AUX
fsr-3246	256	16	be	be	AUX
fsr-3246	256	17	unduly	unduly	ADV
fsr-3246	256	18	influenced	influence	VERB
fsr-3246	256	19	by	by	ADP
fsr-3246	256	20	it	it	PRON
fsr-3246	256	21	.	.	PUNCT
fsr-3246	257	1	we	we	PRON
fsr-3246	257	2	re	re	VERB
fsr-3246	257	3	-	-	VERB
fsr-3246	257	4	estimated	estimate	VERB
fsr-3246	257	5	the	the	DET
fsr-3246	257	6	models	model	NOUN
fsr-3246	257	7	for	for	ADP
fsr-3246	257	8	the	the	DET
fsr-3246	257	9	1957–2012	1957–2012	NUM
fsr-3246	257	10	period	period	NOUN
fsr-3246	257	11	using	use	VERB
fsr-3246	257	12	the	the	DET
fsr-3246	257	13	variable	variable	ADJ
fsr-3246	257	14	cap	cap	NOUN
fsr-3246	257	15	eia	eia	PROPN
fsr-3246	257	16	.	.	PUNCT
fsr-3246	258	1	table	table	NOUN
fsr-3246	258	2	7	7	NUM
fsr-3246	258	3	reports	report	VERB
fsr-3246	258	4	the	the	DET
fsr-3246	258	5	results	result	NOUN
fsr-3246	258	6	for	for	ADP
fsr-3246	258	7	the	the	DET
fsr-3246	258	8	13	13	NUM
fsr-3246	258	9	-	-	PUNCT
fsr-3246	258	10	year	year	NOUN
fsr-3246	258	11	holding	holding	NOUN
fsr-3246	258	12	period	period	NOUN
fsr-3246	258	13	,	,	PUNCT
fsr-3246	258	14	as	as	SCONJ
fsr-3246	258	15	these	these	DET
fsr-3246	258	16	results	result	NOUN
fsr-3246	258	17	were	be	AUX
fsr-3246	258	18	representative	representative	ADJ
fsr-3246	258	19	qualitatively	qualitatively	ADV
fsr-3246	258	20	of	of	ADP
fsr-3246	258	21	all	all	DET
fsr-3246	258	22	the	the	DET
fsr-3246	258	23	holding	hold	VERB
fsr-3246	258	24	periods	period	NOUN
fsr-3246	258	25	and	and	CCONJ
fsr-3246	258	26	quantitatively	quantitatively	ADV
fsr-3246	258	27	fell	fall	VERB
fsr-3246	258	28	between	between	ADP
fsr-3246	258	29	the	the	DET
fsr-3246	258	30	11	11	NUM
fsr-3246	258	31	-	-	PUNCT
fsr-3246	258	32	year	year	NOUN
fsr-3246	258	33	and	and	CCONJ
fsr-3246	258	34	15	15	NUM
fsr-3246	258	35	-	-	PUNCT
fsr-3246	258	36	year	year	NOUN
fsr-3246	258	37	holding	hold	VERB
fsr-3246	258	38	periods	period	NOUN
fsr-3246	258	39	.	.	PUNCT
fsr-3246	259	1	the	the	DET
fsr-3246	259	2	table	table	NOUN
fsr-3246	259	3	reports	report	VERB
fsr-3246	259	4	the	the	DET
fsr-3246	259	5	percentage	percentage	NOUN
fsr-3246	259	6	difference	difference	NOUN
fsr-3246	259	7	in	in	ADP
fsr-3246	259	8	estimated	estimate	VERB
fsr-3246	259	9	wealth	wealth	NOUN
fsr-3246	259	10	ratios	ratio	NOUN
fsr-3246	259	11	between	between	ADP
fsr-3246	259	12	the	the	DET
fsr-3246	259	13	more	more	ADV
fsr-3246	259	14	recent	recent	ADJ
fsr-3246	259	15	period	period	NOUN
fsr-3246	259	16	,	,	PUNCT
fsr-3246	259	17	1957–2012	1957–2012	NUM
fsr-3246	259	18	,	,	PUNCT
fsr-3246	259	19	and	and	CCONJ
fsr-3246	259	20	our	our	PRON
fsr-3246	259	21	original	original	ADJ
fsr-3246	259	22	sample	sample	NOUN
fsr-3246	259	23	period	period	NOUN
fsr-3246	259	24	,	,	PUNCT
fsr-3246	259	25	1928–2012	1928–2012	NUM
fsr-3246	259	26	.	.	PUNCT
fsr-3246	260	1	a	a	DET
fsr-3246	260	2	positive	positive	ADJ
fsr-3246	260	3	percentage	percentage	NOUN
fsr-3246	260	4	indicates	indicate	VERB
fsr-3246	260	5	that	that	SCONJ
fsr-3246	260	6	the	the	DET
fsr-3246	260	7	estimated	estimate	VERB
fsr-3246	260	8	1957–2012	1957–2012	NUM
fsr-3246	260	9	period	period	NOUN
fsr-3246	260	10	wealth	wealth	NOUN
fsr-3246	260	11	ratios	ratio	NOUN
fsr-3246	260	12	are	be	AUX
fsr-3246	260	13	higher	high	ADJ
fsr-3246	260	14	and	and	CCONJ
fsr-3246	260	15	thus	thus	ADV
fsr-3246	260	16	strengthen	strengthen	VERB
fsr-3246	260	17	our	our	PRON
fsr-3246	260	18	original	original	ADJ
fsr-3246	260	19	results	result	NOUN
fsr-3246	260	20	.	.	PUNCT
fsr-3246	261	1	for	for	ADP
fsr-3246	261	2	the	the	DET
fsr-3246	261	3	call	call	NOUN
fsr-3246	261	4	/	/	SYM
fsr-3246	261	5	bond	bond	NOUN
fsr-3246	261	6	portfolio	portfolio	NOUN
fsr-3246	261	7	this	this	PRON
fsr-3246	261	8	is	be	AUX
fsr-3246	261	9	in	in	ADP
fsr-3246	261	10	fact	fact	NOUN
fsr-3246	261	11	the	the	DET
fsr-3246	261	12	case	case	NOUN
fsr-3246	261	13	;	;	PUNCT
fsr-3246	261	14	had	have	AUX
fsr-3246	261	15	we	we	PRON
fsr-3246	261	16	used	use	VERB
fsr-3246	261	17	the	the	DET
fsr-3246	261	18	more	more	ADV
fsr-3246	261	19	recent	recent	ADJ
fsr-3246	261	20	time	time	NOUN
fsr-3246	261	21	periods	period	VERB
fsr-3246	261	22	our	our	PRON
fsr-3246	261	23	results	result	NOUN
fsr-3246	261	24	would	would	AUX
fsr-3246	261	25	table	table	VERB
fsr-3246	261	26	7	7	NUM
fsr-3246	261	27	comparison	comparison	NOUN
fsr-3246	261	28	of	of	ADP
fsr-3246	261	29	ending	end	VERB
fsr-3246	261	30	wealth	wealth	NOUN
fsr-3246	261	31	ratios	ratio	NOUN
fsr-3246	261	32	:	:	PUNCT
fsr-3246	261	33	whole	whole	ADJ
fsr-3246	261	34	period	period	NOUN
fsr-3246	261	35	1928–2012	1928–2012	NUM
fsr-3246	261	36	vs.	vs.	ADP
fsr-3246	261	37	1957–2012	1957–2012	NUM
fsr-3246	261	38	equity	equity	NOUN
fsr-3246	261	39	/	/	SYM
fsr-3246	261	40	bill	bill	NOUN
fsr-3246	261	41	(	(	PUNCT
fsr-3246	261	42	eb	eb	PROPN
fsr-3246	261	43	)	)	PUNCT
fsr-3246	261	44	portfolio/(t	portfolio/(t	NOUN
fsr-3246	261	45	-	-	PUNCT
fsr-3246	261	46	bond	bond	NOUN
fsr-3246	261	47	�	�	NOUN
fsr-3246	261	48	2.5	2.5	NUM
fsr-3246	261	49	%	%	NOUN
fsr-3246	261	50	)	)	PUNCT
fsr-3246	261	51	cap	cap	NOUN
fsr-3246	261	52	eia	eia	PROPN
fsr-3246	261	53	13	13	NUM
fsr-3246	261	54	year	year	NOUN
fsr-3246	261	55	horizon	horizon	NOUN
fsr-3246	261	56	1	1	NUM
fsr-3246	261	57	5	5	NUM
fsr-3246	261	58	10	10	NUM
fsr-3246	261	59	25	25	NUM
fsr-3246	261	60	50	50	NUM
fsr-3246	261	61	75	75	NUM
fsr-3246	261	62	90	90	NUM
fsr-3246	261	63	95	95	NUM
fsr-3246	261	64	99	99	NUM
fsr-3246	261	65	percentile	percentile	NOUN
fsr-3246	261	66	1957–2012	1957–2012	NUM
fsr-3246	261	67	0.83	0.83	NUM
fsr-3246	261	68	0.87	0.87	NUM
fsr-3246	261	69	0.91	0.91	NUM
fsr-3246	261	70	1.04	1.04	NUM
fsr-3246	261	71	1.14	1.14	NUM
fsr-3246	261	72	1.28	1.28	NUM
fsr-3246	261	73	1.40	1.40	NUM
fsr-3246	261	74	1.46	1.46	NUM
fsr-3246	261	75	1.55	1.55	NUM
fsr-3246	261	76	1928–2012	1928–2012	NUM
fsr-3246	261	77	0.83	0.83	NUM
fsr-3246	261	78	0.86	0.86	NUM
fsr-3246	261	79	0.90	0.90	NUM
fsr-3246	261	80	1.04	1.04	NUM
fsr-3246	261	81	1.17	1.17	NUM
fsr-3246	261	82	1.31	1.31	NUM
fsr-3246	261	83	1.45	1.45	NUM
fsr-3246	261	84	1.50	1.50	NUM
fsr-3246	261	85	1.63	1.63	NUM
fsr-3246	261	86	%	%	NOUN
fsr-3246	261	87	change	change	NOUN
fsr-3246	261	88	0.9	0.9	NUM
fsr-3246	261	89	%	%	NOUN
fsr-3246	261	90	1.2	1.2	NUM
fsr-3246	261	91	%	%	NOUN
fsr-3246	261	92	1.2	1.2	NUM
fsr-3246	261	93	%	%	NOUN
fsr-3246	261	94	0.3	0.3	NUM
fsr-3246	261	95	%	%	NOUN
fsr-3246	261	96	�	�	NOUN
fsr-3246	261	97	2.0	2.0	NUM
fsr-3246	261	98	%	%	NOUN
fsr-3246	261	99	�	�	NOUN
fsr-3246	261	100	2.9	2.9	NUM
fsr-3246	261	101	%	%	NOUN
fsr-3246	261	102	�	�	NOUN
fsr-3246	261	103	3.3	3.3	NUM
fsr-3246	261	104	%	%	NOUN
fsr-3246	261	105	�	�	NOUN
fsr-3246	261	106	2.4	2.4	NUM
fsr-3246	261	107	%	%	NOUN
fsr-3246	261	108	�	�	NOUN
fsr-3246	261	109	5.0	5.0	NUM
fsr-3246	261	110	%	%	NOUN
fsr-3246	261	111	equity	equity	NOUN
fsr-3246	261	112	/	/	SYM
fsr-3246	261	113	put	put	PROPN
fsr-3246	261	114	(	(	PUNCT
fsr-3246	261	115	ep	ep	NOUN
fsr-3246	261	116	)	)	PUNCT
fsr-3246	261	117	portfolio/(t	portfolio/(t	NOUN
fsr-3246	261	118	-	-	PUNCT
fsr-3246	261	119	bond	bond	NOUN
fsr-3246	261	120	�	�	NOUN
fsr-3246	261	121	2.5	2.5	NUM
fsr-3246	261	122	%	%	NOUN
fsr-3246	261	123	)	)	PUNCT
fsr-3246	261	124	cap	cap	NOUN
fsr-3246	261	125	eia	eia	PROPN
fsr-3246	261	126	13	13	NUM
fsr-3246	261	127	year	year	NOUN
fsr-3246	261	128	horizon	horizon	NOUN
fsr-3246	261	129	1957–2012	1957–2012	NUM
fsr-3246	261	130	0.86	0.86	NUM
fsr-3246	261	131	0.94	0.94	NUM
fsr-3246	261	132	1.00	1.00	NUM
fsr-3246	261	133	1.21	1.21	NUM
fsr-3246	261	134	1.47	1.47	NUM
fsr-3246	261	135	1.71	1.71	NUM
fsr-3246	261	136	1.96	1.96	NUM
fsr-3246	261	137	2.10	2.10	NUM
fsr-3246	261	138	2.31	2.31	NUM
fsr-3246	261	139	1928–2012	1928–2012	NUM
fsr-3246	261	140	0.64	0.64	NUM
fsr-3246	261	141	0.86	0.86	NUM
fsr-3246	261	142	0.97	0.97	NUM
fsr-3246	261	143	1.20	1.20	NUM
fsr-3246	261	144	1.49	1.49	NUM
fsr-3246	261	145	1.86	1.86	NUM
fsr-3246	261	146	2.14	2.14	NUM
fsr-3246	261	147	2.26	2.26	NUM
fsr-3246	261	148	2.42	2.42	NUM
fsr-3246	261	149	%	%	NOUN
fsr-3246	261	150	change	change	NOUN
fsr-3246	261	151	34.5	34.5	NUM
fsr-3246	261	152	%	%	NOUN
fsr-3246	261	153	10.0	10.0	NUM
fsr-3246	261	154	%	%	NOUN
fsr-3246	261	155	3.8	3.8	NUM
fsr-3246	261	156	%	%	NOUN
fsr-3246	261	157	0.8	0.8	NUM
fsr-3246	261	158	%	%	NOUN
fsr-3246	261	159	�	�	PROPN
fsr-3246	261	160	1.1	1.1	NUM
fsr-3246	261	161	%	%	NOUN
fsr-3246	261	162	�	�	PROPN
fsr-3246	261	163	8.0	8.0	NUM
fsr-3246	261	164	%	%	NOUN
fsr-3246	261	165	�	�	PROPN
fsr-3246	261	166	8.6	8.6	NUM
fsr-3246	261	167	%	%	NOUN
fsr-3246	261	168	�	�	PROPN
fsr-3246	261	169	6.8	6.8	NUM
fsr-3246	261	170	%	%	NOUN
fsr-3246	261	171	�	�	NOUN
fsr-3246	261	172	4.5	4.5	NUM
fsr-3246	261	173	%	%	NOUN
fsr-3246	261	174	call	call	NOUN
fsr-3246	261	175	/	/	SYM
fsr-3246	261	176	bond	bond	NOUN
fsr-3246	261	177	(	(	PUNCT
fsr-3246	261	178	cb	cb	NOUN
fsr-3246	261	179	)	)	PUNCT
fsr-3246	261	180	portfolio/(t	portfolio/(t	NOUN
fsr-3246	261	181	-	-	PUNCT
fsr-3246	261	182	bond	bond	NOUN
fsr-3246	261	183	�	�	NOUN
fsr-3246	261	184	2.5	2.5	NUM
fsr-3246	261	185	%	%	NOUN
fsr-3246	261	186	)	)	PUNCT
fsr-3246	261	187	cap	cap	NOUN
fsr-3246	261	188	eia	eia	PROPN
fsr-3246	261	189	13	13	NUM
fsr-3246	261	190	year	year	NOUN
fsr-3246	261	191	horizon	horizon	NOUN
fsr-3246	261	192	1957–2012	1957–2012	NUM
fsr-3246	261	193	1.07	1.07	NUM
fsr-3246	261	194	1.10	1.10	NUM
fsr-3246	261	195	1.14	1.14	NUM
fsr-3246	261	196	1.24	1.24	NUM
fsr-3246	261	197	1.35	1.35	NUM
fsr-3246	261	198	1.54	1.54	NUM
fsr-3246	261	199	1.60	1.60	NUM
fsr-3246	261	200	1.61	1.61	NUM
fsr-3246	261	201	1.63	1.63	NUM
fsr-3246	261	202	1928–2012	1928–2012	NUM
fsr-3246	261	203	0.90	0.90	NUM
fsr-3246	261	204	0.92	0.92	NUM
fsr-3246	261	205	0.96	0.96	NUM
fsr-3246	261	206	1.09	1.09	NUM
fsr-3246	261	207	1.20	1.20	NUM
fsr-3246	261	208	1.38	1.38	NUM
fsr-3246	261	209	1.57	1.57	NUM
fsr-3246	261	210	1.60	1.60	NUM
fsr-3246	261	211	1.63	1.63	NUM
fsr-3246	261	212	%	%	NOUN
fsr-3246	261	213	change	change	NOUN
fsr-3246	261	214	18.3	18.3	NUM
fsr-3246	261	215	%	%	NOUN
fsr-3246	261	216	19.2	19.2	NUM
fsr-3246	261	217	%	%	NOUN
fsr-3246	261	218	19.1	19.1	NUM
fsr-3246	261	219	%	%	NOUN
fsr-3246	261	220	14.1	14.1	NUM
fsr-3246	261	221	%	%	NOUN
fsr-3246	261	222	12.4	12.4	NUM
fsr-3246	261	223	%	%	NOUN
fsr-3246	261	224	11.2	11.2	NUM
fsr-3246	261	225	%	%	NOUN
fsr-3246	261	226	1.8	1.8	NUM
fsr-3246	261	227	%	%	NOUN
fsr-3246	261	228	0.5	0.5	NUM
fsr-3246	261	229	%	%	NOUN
fsr-3246	261	230	0.2	0.2	NUM
fsr-3246	261	231	%	%	NOUN
fsr-3246	261	232	425a	425a	PROPN
fsr-3246	261	233	.	.	PUNCT
fsr-3246	262	1	terry	terry	PROPN
fsr-3246	262	2	,	,	PUNCT
fsr-3246	262	3	e.	e.	PROPN
fsr-3246	262	4	elder	elder	PROPN
fsr-3246	262	5	/	/	SYM
fsr-3246	262	6	financial	financial	ADJ
fsr-3246	262	7	services	service	NOUN
fsr-3246	262	8	review	review	VERB
fsr-3246	262	9	24	24	NUM
fsr-3246	262	10	(	(	PUNCT
fsr-3246	262	11	2015	2015	NUM
fsr-3246	262	12	)	)	PUNCT
fsr-3246	262	13	411–428	411–428	NUM
fsr-3246	262	14	be	be	AUX
fsr-3246	262	15	stronger	strong	ADJ
fsr-3246	262	16	.	.	PUNCT
fsr-3246	263	1	for	for	ADP
fsr-3246	263	2	the	the	DET
fsr-3246	263	3	eb	eb	PROPN
fsr-3246	263	4	and	and	CCONJ
fsr-3246	263	5	ep	ep	PROPN
fsr-3246	263	6	portfolios	portfolio	NOUN
fsr-3246	263	7	using	use	VERB
fsr-3246	263	8	the	the	DET
fsr-3246	263	9	more	more	ADV
fsr-3246	263	10	recent	recent	ADJ
fsr-3246	263	11	period	period	NOUN
fsr-3246	263	12	that	that	PRON
fsr-3246	263	13	excludes	exclude	VERB
fsr-3246	263	14	the	the	DET
fsr-3246	263	15	depression	depression	NOUN
fsr-3246	263	16	years	year	NOUN
fsr-3246	263	17	strengthens	strengthen	VERB
fsr-3246	263	18	our	our	PRON
fsr-3246	263	19	results	result	NOUN
fsr-3246	263	20	for	for	ADP
fsr-3246	263	21	wealth	wealth	NOUN
fsr-3246	263	22	ratios	ratio	NOUN
fsr-3246	263	23	below	below	ADP
fsr-3246	263	24	the	the	DET
fsr-3246	263	25	median	median	NOUN
fsr-3246	263	26	and	and	CCONJ
fsr-3246	263	27	weakens	weaken	VERB
fsr-3246	263	28	them	they	PRON
fsr-3246	263	29	for	for	ADP
fsr-3246	263	30	those	those	DET
fsr-3246	263	31	above	above	ADJ
fsr-3246	263	32	.	.	PUNCT
fsr-3246	264	1	intuitively	intuitively	ADV
fsr-3246	264	2	,	,	PUNCT
fsr-3246	264	3	this	this	DET
fsr-3246	264	4	result	result	NOUN
fsr-3246	264	5	makes	make	VERB
fsr-3246	264	6	sense	sense	NOUN
fsr-3246	264	7	because	because	SCONJ
fsr-3246	264	8	the	the	DET
fsr-3246	264	9	downside	downside	ADJ
fsr-3246	264	10	protection	protection	NOUN
fsr-3246	264	11	of	of	ADP
fsr-3246	264	12	the	the	DET
fsr-3246	264	13	eia	eia	NOUN
fsr-3246	264	14	would	would	AUX
fsr-3246	264	15	be	be	AUX
fsr-3246	264	16	more	more	ADV
fsr-3246	264	17	valuable	valuable	ADJ
fsr-3246	264	18	in	in	ADP
fsr-3246	264	19	the	the	DET
fsr-3246	264	20	severe	severe	ADJ
fsr-3246	264	21	negative	negative	ADJ
fsr-3246	264	22	equity	equity	NOUN
fsr-3246	264	23	returns	return	NOUN
fsr-3246	264	24	of	of	ADP
fsr-3246	264	25	the	the	DET
fsr-3246	264	26	depression	depression	NOUN
fsr-3246	264	27	era	era	NOUN
fsr-3246	264	28	.	.	PUNCT
fsr-3246	265	1	finally	finally	ADV
fsr-3246	265	2	,	,	PUNCT
fsr-3246	265	3	table	table	NOUN
fsr-3246	265	4	8	8	NUM
fsr-3246	265	5	summarizes	summarize	NOUN
fsr-3246	265	6	the	the	DET
fsr-3246	265	7	various	various	ADJ
fsr-3246	265	8	alternative	alternative	ADJ
fsr-3246	265	9	portfolio	portfolio	NOUN
fsr-3246	265	10	strategies	strategy	NOUN
fsr-3246	265	11	in	in	ADP
fsr-3246	265	12	a	a	DET
fsr-3246	265	13	slightly	slightly	ADV
fsr-3246	265	14	different	different	ADJ
fsr-3246	265	15	format	format	NOUN
fsr-3246	265	16	by	by	ADP
fsr-3246	265	17	showing	show	VERB
fsr-3246	265	18	the	the	DET
fsr-3246	265	19	mean	mean	ADJ
fsr-3246	265	20	,	,	PUNCT
fsr-3246	265	21	minimum	minimum	ADJ
fsr-3246	265	22	,	,	PUNCT
fsr-3246	265	23	and	and	CCONJ
fsr-3246	265	24	maximum	maximum	ADJ
fsr-3246	265	25	compound	compound	ADJ
fsr-3246	265	26	annual	annual	ADJ
fsr-3246	265	27	return	return	NOUN
fsr-3246	265	28	of	of	ADP
fsr-3246	265	29	each	each	DET
fsr-3246	265	30	strategy	strategy	NOUN
fsr-3246	265	31	for	for	ADP
fsr-3246	265	32	11	11	NUM
fsr-3246	265	33	,	,	PUNCT
fsr-3246	265	34	13	13	NUM
fsr-3246	265	35	,	,	PUNCT
fsr-3246	265	36	and	and	CCONJ
fsr-3246	265	37	15	15	NUM
fsr-3246	265	38	-	-	PUNCT
fsr-3246	265	39	year	year	NOUN
fsr-3246	265	40	holding	hold	VERB
fsr-3246	265	41	periods	period	NOUN
fsr-3246	265	42	.	.	PUNCT
fsr-3246	266	1	as	as	SCONJ
fsr-3246	266	2	indicated	indicate	VERB
fsr-3246	266	3	in	in	ADP
fsr-3246	266	4	the	the	DET
fsr-3246	266	5	previous	previous	ADJ
fsr-3246	266	6	tables	table	NOUN
fsr-3246	266	7	,	,	PUNCT
fsr-3246	266	8	the	the	DET
fsr-3246	266	9	put	put	NOUN
fsr-3246	266	10	strategy	strategy	NOUN
fsr-3246	266	11	has	have	VERB
fsr-3246	266	12	the	the	DET
fsr-3246	266	13	highest	high	ADJ
fsr-3246	266	14	risk	risk	NOUN
fsr-3246	266	15	,	,	PUNCT
fsr-3246	266	16	with	with	ADP
fsr-3246	266	17	both	both	CCONJ
fsr-3246	266	18	the	the	DET
fsr-3246	266	19	highest	high	ADJ
fsr-3246	266	20	possible	possible	ADJ
fsr-3246	266	21	compound	compound	NOUN
fsr-3246	266	22	annual	annual	ADJ
fsr-3246	266	23	return	return	NOUN
fsr-3246	266	24	and	and	CCONJ
fsr-3246	266	25	largest	large	ADJ
fsr-3246	266	26	possible	possible	ADJ
fsr-3246	266	27	loss	loss	NOUN
fsr-3246	266	28	,	,	PUNCT
fsr-3246	266	29	and	and	CCONJ
fsr-3246	266	30	the	the	DET
fsr-3246	266	31	highest	high	ADJ
fsr-3246	266	32	mean	mean	ADJ
fsr-3246	266	33	return	return	NOUN
fsr-3246	266	34	.	.	PUNCT
fsr-3246	267	1	over	over	ADP
fsr-3246	267	2	a	a	DET
fsr-3246	267	3	15	15	NUM
fsr-3246	267	4	-	-	PUNCT
fsr-3246	267	5	year	year	NOUN
fsr-3246	267	6	holding	holding	NOUN
fsr-3246	267	7	period	period	NOUN
fsr-3246	267	8	the	the	DET
fsr-3246	267	9	put	put	NOUN
fsr-3246	267	10	strategy	strategy	NOUN
fsr-3246	267	11	has	have	VERB
fsr-3246	267	12	a	a	DET
fsr-3246	267	13	mean	mean	ADJ
fsr-3246	267	14	compound	compound	NOUN
fsr-3246	267	15	annual	annual	ADJ
fsr-3246	267	16	return	return	NOUN
fsr-3246	267	17	that	that	PRON
fsr-3246	267	18	is	be	AUX
fsr-3246	267	19	nearly	nearly	ADV
fsr-3246	267	20	4	4	NUM
fsr-3246	267	21	%	%	NOUN
fsr-3246	267	22	higher	high	ADJ
fsr-3246	267	23	than	than	ADP
fsr-3246	267	24	the	the	DET
fsr-3246	267	25	variable	variable	ADJ
fsr-3246	267	26	cap	cap	NOUN
fsr-3246	267	27	eia	eia	PROPN
fsr-3246	267	28	.	.	PUNCT
fsr-3246	268	1	the	the	DET
fsr-3246	268	2	call	call	NOUN
fsr-3246	268	3	/	/	SYM
fsr-3246	268	4	bond	bond	NOUN
fsr-3246	268	5	portfolio	portfolio	NOUN
fsr-3246	268	6	has	have	VERB
fsr-3246	268	7	higher	high	ADJ
fsr-3246	268	8	means	mean	NOUN
fsr-3246	268	9	,	,	PUNCT
fsr-3246	268	10	minimums	minimum	NOUN
fsr-3246	268	11	,	,	PUNCT
fsr-3246	268	12	and	and	CCONJ
fsr-3246	268	13	maximums	maximum	NOUN
fsr-3246	268	14	at	at	ADP
fsr-3246	268	15	all	all	DET
fsr-3246	268	16	caps	cap	NOUN
fsr-3246	268	17	and	and	CCONJ
fsr-3246	268	18	holding	hold	VERB
fsr-3246	268	19	periods	period	NOUN
fsr-3246	268	20	and	and	CCONJ
fsr-3246	268	21	dominates	dominate	VERB
fsr-3246	268	22	the	the	DET
fsr-3246	268	23	reichenstein	reichenstein	PROPN
fsr-3246	268	24	�	�	PROPN
fsr-3246	268	25	adjusted	adjust	VERB
fsr-3246	268	26	portfolio	portfolio	NOUN
fsr-3246	268	27	strategy	strategy	NOUN
fsr-3246	268	28	.	.	PUNCT
fsr-3246	269	1	the	the	DET
fsr-3246	269	2	call	call	NOUN
fsr-3246	269	3	/	/	SYM
fsr-3246	269	4	bond	bond	NOUN
fsr-3246	269	5	strategy	strategy	NOUN
fsr-3246	269	6	has	have	VERB
fsr-3246	269	7	lower	low	ADJ
fsr-3246	269	8	minimum	minimum	ADJ
fsr-3246	269	9	and	and	CCONJ
fsr-3246	269	10	higher	high	ADJ
fsr-3246	269	11	maximum	maximum	ADJ
fsr-3246	269	12	compound	compound	ADJ
fsr-3246	269	13	annual	annual	ADJ
fsr-3246	269	14	returns	return	NOUN
fsr-3246	269	15	than	than	ADP
fsr-3246	269	16	the	the	DET
fsr-3246	269	17	eias	eia	NOUN
fsr-3246	269	18	,	,	PUNCT
fsr-3246	269	19	but	but	CCONJ
fsr-3246	269	20	also	also	ADV
fsr-3246	269	21	has	have	AUX
fsr-3246	269	22	mean	mean	VERB
fsr-3246	269	23	compound	compound	NOUN
fsr-3246	269	24	annual	annual	ADJ
fsr-3246	269	25	returns	return	NOUN
fsr-3246	269	26	that	that	PRON
fsr-3246	269	27	are	be	AUX
fsr-3246	269	28	approximately	approximately	ADV
fsr-3246	269	29	2.3	2.3	NUM
fsr-3246	269	30	%	%	NOUN
fsr-3246	269	31	to	to	ADP
fsr-3246	269	32	3.1	3.1	NUM
fsr-3246	269	33	%	%	NOUN
fsr-3246	269	34	higher	high	ADJ
fsr-3246	269	35	than	than	ADP
fsr-3246	269	36	the	the	DET
fsr-3246	269	37	eias	eia	NOUN
fsr-3246	269	38	,	,	PUNCT
fsr-3246	269	39	consistent	consistent	ADJ
fsr-3246	269	40	with	with	ADP
fsr-3246	269	41	the	the	DET
fsr-3246	269	42	economics	economic	NOUN
fsr-3246	269	43	discussed	discuss	VERB
fsr-3246	269	44	previously	previously	ADV
fsr-3246	269	45	.	.	PUNCT
fsr-3246	270	1	6	6	X
fsr-3246	270	2	.	.	X
fsr-3246	270	3	conclusion	conclusion	NOUN
fsr-3246	270	4	this	this	DET
fsr-3246	270	5	research	research	NOUN
fsr-3246	270	6	has	have	AUX
fsr-3246	270	7	extended	extend	VERB
fsr-3246	270	8	previous	previous	ADJ
fsr-3246	270	9	research	research	NOUN
fsr-3246	270	10	on	on	ADP
fsr-3246	270	11	equity	equity	NOUN
fsr-3246	270	12	indexed	index	VERB
fsr-3246	270	13	annuities	annuity	NOUN
fsr-3246	270	14	by	by	ADP
fsr-3246	270	15	first	first	ADV
fsr-3246	270	16	extending	extend	VERB
fsr-3246	270	17	the	the	DET
fsr-3246	270	18	historical	historical	ADJ
fsr-3246	270	19	time	time	NOUN
fsr-3246	270	20	horizon	horizon	NOUN
fsr-3246	270	21	and	and	CCONJ
fsr-3246	270	22	return	return	VERB
fsr-3246	270	23	time	time	NOUN
fsr-3246	270	24	-	-	PUNCT
fsr-3246	270	25	paths	path	NOUN
fsr-3246	270	26	used	use	VERB
fsr-3246	270	27	by	by	ADP
fsr-3246	270	28	reichenstein	reichenstein	NOUN
fsr-3246	270	29	(	(	PUNCT
fsr-3246	270	30	2009	2009	NUM
fsr-3246	270	31	)	)	PUNCT
fsr-3246	270	32	,	,	PUNCT
fsr-3246	270	33	to	to	PART
fsr-3246	270	34	examine	examine	VERB
fsr-3246	270	35	portfolios	portfolio	NOUN
fsr-3246	270	36	of	of	ADP
fsr-3246	270	37	equity	equity	NOUN
fsr-3246	270	38	and	and	CCONJ
fsr-3246	270	39	treasury	treasury	PROPN
fsr-3246	270	40	bills	bill	NOUN
fsr-3246	270	41	having	have	VERB
fsr-3246	270	42	the	the	DET
fsr-3246	270	43	same	same	ADJ
fsr-3246	270	44	systematic	systematic	ADJ
fsr-3246	270	45	risk	risk	NOUN
fsr-3246	270	46	as	as	ADP
fsr-3246	270	47	eias	eia	NOUN
fsr-3246	270	48	.	.	PUNCT
fsr-3246	271	1	second	second	ADJ
fsr-3246	271	2	,	,	PUNCT
fsr-3246	271	3	and	and	CCONJ
fsr-3246	271	4	perhaps	perhaps	ADV
fsr-3246	271	5	more	more	ADV
fsr-3246	271	6	importantly	importantly	ADV
fsr-3246	271	7	,	,	PUNCT
fsr-3246	271	8	because	because	SCONJ
fsr-3246	271	9	eias	eia	NOUN
fsr-3246	271	10	are	be	AUX
fsr-3246	271	11	marketed	market	VERB
fsr-3246	271	12	as	as	ADP
fsr-3246	271	13	a	a	DET
fsr-3246	271	14	product	product	NOUN
fsr-3246	271	15	having	have	VERB
fsr-3246	271	16	downside	downside	ADJ
fsr-3246	271	17	protection	protection	NOUN
fsr-3246	271	18	and	and	CCONJ
fsr-3246	271	19	upside	upside	ADJ
fsr-3246	271	20	potential	potential	NOUN
fsr-3246	271	21	,	,	PUNCT
fsr-3246	271	22	we	we	PRON
fsr-3246	271	23	examine	examine	VERB
fsr-3246	271	24	two	two	NUM
fsr-3246	271	25	approaches	approach	NOUN
fsr-3246	271	26	involving	involve	VERB
fsr-3246	271	27	options	option	NOUN
fsr-3246	271	28	.	.	PUNCT
fsr-3246	272	1	the	the	DET
fsr-3246	272	2	first	first	ADJ
fsr-3246	272	3	approach	approach	NOUN
fsr-3246	272	4	uses	use	VERB
fsr-3246	272	5	a	a	DET
fsr-3246	272	6	portfolio	portfolio	NOUN
fsr-3246	272	7	consisting	consist	VERB
fsr-3246	272	8	of	of	ADP
fsr-3246	272	9	equity	equity	NOUN
fsr-3246	272	10	and	and	CCONJ
fsr-3246	272	11	put	put	NOUN
fsr-3246	272	12	options	option	NOUN
fsr-3246	272	13	as	as	ADP
fsr-3246	272	14	portfolio	portfolio	NOUN
fsr-3246	272	15	insurance	insurance	NOUN
fsr-3246	272	16	.	.	PUNCT
fsr-3246	273	1	the	the	DET
fsr-3246	273	2	second	second	ADJ
fsr-3246	273	3	approach	approach	NOUN
fsr-3246	273	4	creates	create	VERB
fsr-3246	273	5	a	a	DET
fsr-3246	273	6	bond	bond	NOUN
fsr-3246	273	7	/	/	SYM
fsr-3246	273	8	call	call	NOUN
fsr-3246	273	9	option	option	NOUN
fsr-3246	273	10	portfolio	portfolio	NOUN
fsr-3246	273	11	where	where	SCONJ
fsr-3246	273	12	option	option	NOUN
fsr-3246	273	13	positions	position	NOUN
fsr-3246	273	14	are	be	AUX
fsr-3246	273	15	designed	design	VERB
fsr-3246	273	16	to	to	PART
fsr-3246	273	17	mimic	mimic	VERB
fsr-3246	273	18	the	the	DET
fsr-3246	273	19	payoff	payoff	NOUN
fsr-3246	273	20	to	to	PART
fsr-3246	273	21	eias	eia	NOUN
fsr-3246	273	22	.	.	PUNCT
fsr-3246	274	1	a	a	DET
fsr-3246	274	2	third	third	ADJ
fsr-3246	274	3	contribution	contribution	NOUN
fsr-3246	274	4	of	of	ADP
fsr-3246	274	5	this	this	DET
fsr-3246	274	6	research	research	NOUN
fsr-3246	274	7	is	be	AUX
fsr-3246	274	8	to	to	PART
fsr-3246	274	9	allow	allow	VERB
fsr-3246	274	10	cap	cap	NOUN
fsr-3246	274	11	rates	rate	NOUN
fsr-3246	274	12	to	to	PART
fsr-3246	274	13	vary	vary	VERB
fsr-3246	274	14	table	table	NOUN
fsr-3246	274	15	8	8	NUM
fsr-3246	274	16	compound	compound	ADJ
fsr-3246	274	17	annual	annual	ADJ
fsr-3246	274	18	returns	return	NOUN
fsr-3246	274	19	by	by	ADP
fsr-3246	274	20	holding	hold	VERB
fsr-3246	274	21	period	period	NOUN
fsr-3246	274	22	11	11	NUM
fsr-3246	274	23	year	year	NOUN
fsr-3246	274	24	holding	holding	NOUN
fsr-3246	274	25	period	period	NOUN
fsr-3246	274	26	13	13	NUM
fsr-3246	274	27	year	year	NOUN
fsr-3246	274	28	holding	holding	NOUN
fsr-3246	274	29	period	period	NOUN
fsr-3246	274	30	15	15	NUM
fsr-3246	274	31	year	year	NOUN
fsr-3246	274	32	holding	holding	NOUN
fsr-3246	274	33	period	period	NOUN
fsr-3246	274	34	mean	mean	NOUN
fsr-3246	274	35	min	min	PROPN
fsr-3246	274	36	max	max	PROPN
fsr-3246	274	37	mean	mean	PROPN
fsr-3246	274	38	min	min	PROPN
fsr-3246	274	39	max	max	PROPN
fsr-3246	274	40	mean	mean	PROPN
fsr-3246	274	41	min	min	PROPN
fsr-3246	274	42	max	max	PROPN
fsr-3246	274	43	7	7	NUM
fsr-3246	274	44	%	%	NOUN
fsr-3246	274	45	cap	cap	NOUN
fsr-3246	274	46	eia	eia	NOUN
fsr-3246	274	47	4.3	4.3	NUM
fsr-3246	274	48	%	%	NOUN
fsr-3246	274	49	1.9	1.9	NUM
fsr-3246	274	50	%	%	NOUN
fsr-3246	274	51	6.6	6.6	NUM
fsr-3246	274	52	%	%	NOUN
fsr-3246	274	53	4.3	4.3	NUM
fsr-3246	274	54	%	%	NOUN
fsr-3246	274	55	1.6	1.6	NUM
fsr-3246	274	56	%	%	NOUN
fsr-3246	274	57	6.1	6.1	NUM
fsr-3246	274	58	%	%	NOUN
fsr-3246	274	59	4.3	4.3	NUM
fsr-3246	274	60	%	%	NOUN
fsr-3246	274	61	2.2	2.2	NUM
fsr-3246	274	62	%	%	NOUN
fsr-3246	274	63	6.2	6.2	NUM
fsr-3246	274	64	%	%	NOUN
fsr-3246	274	65	equity	equity	NOUN
fsr-3246	274	66	/	/	SYM
fsr-3246	274	67	bills	bill	NOUN
fsr-3246	274	68	�	�	PROPN
fsr-3246	274	69	0.16	0.16	NUM
fsr-3246	274	70	�	�	PROPN
fsr-3246	274	71	5.8	5.8	NUM
fsr-3246	274	72	%	%	NOUN
fsr-3246	274	73	�	�	NOUN
fsr-3246	274	74	0.1	0.1	NUM
fsr-3246	274	75	%	%	NOUN
fsr-3246	274	76	10.8	10.8	NUM
fsr-3246	274	77	%	%	NOUN
fsr-3246	274	78	6.1	6.1	NUM
fsr-3246	274	79	%	%	NOUN
fsr-3246	274	80	�	�	NOUN
fsr-3246	274	81	0.1	0.1	NUM
fsr-3246	274	82	%	%	NOUN
fsr-3246	274	83	10.8	10.8	NUM
fsr-3246	274	84	%	%	NOUN
fsr-3246	274	85	6.3	6.3	NUM
fsr-3246	274	86	%	%	NOUN
fsr-3246	274	87	0.3	0.3	NUM
fsr-3246	274	88	%	%	NOUN
fsr-3246	274	89	10.3	10.3	NUM
fsr-3246	274	90	%	%	NOUN
fsr-3246	274	91	calls	call	NOUN
fsr-3246	274	92	/	/	SYM
fsr-3246	274	93	bond	bond	NOUN
fsr-3246	274	94	6.6	6.6	NUM
fsr-3246	274	95	%	%	NOUN
fsr-3246	274	96	0.6	0.6	NUM
fsr-3246	274	97	%	%	NOUN
fsr-3246	274	98	11.8	11.8	NUM
fsr-3246	274	99	%	%	NOUN
fsr-3246	274	100	6.7	6.7	NUM
fsr-3246	274	101	%	%	NOUN
fsr-3246	274	102	0.7	0.7	NUM
fsr-3246	274	103	%	%	NOUN
fsr-3246	274	104	11.7	11.7	NUM
fsr-3246	274	105	%	%	NOUN
fsr-3246	274	106	6.8	6.8	NUM
fsr-3246	274	107	%	%	NOUN
fsr-3246	274	108	1.2	1.2	NUM
fsr-3246	274	109	%	%	NOUN
fsr-3246	274	110	11.6	11.6	NUM
fsr-3246	274	111	%	%	NOUN
fsr-3246	274	112	5	5	NUM
fsr-3246	274	113	%	%	NOUN
fsr-3246	274	114	cap	cap	NOUN
fsr-3246	274	115	eia	eia	PROPN
fsr-3246	274	116	3.2	3.2	NUM
fsr-3246	274	117	%	%	NOUN
fsr-3246	274	118	1.4	1.4	NUM
fsr-3246	274	119	%	%	NOUN
fsr-3246	274	120	4.9	4.9	NUM
fsr-3246	274	121	%	%	NOUN
fsr-3246	274	122	3.2	3.2	NUM
fsr-3246	274	123	%	%	NOUN
fsr-3246	274	124	1.2	1.2	NUM
fsr-3246	274	125	%	%	NOUN
fsr-3246	274	126	4.6	4.6	NUM
fsr-3246	274	127	%	%	NOUN
fsr-3246	274	128	3.2	3.2	NUM
fsr-3246	274	129	%	%	NOUN
fsr-3246	274	130	1.7	1.7	NUM
fsr-3246	274	131	%	%	NOUN
fsr-3246	274	132	4.6	4.6	NUM
fsr-3246	274	133	%	%	NOUN
fsr-3246	274	134	equity	equity	NOUN
fsr-3246	274	135	/	/	SYM
fsr-3246	274	136	bills	bill	NOUN
fsr-3246	274	137	�	�	PROPN
fsr-3246	274	138	0.12	0.12	NUM
fsr-3246	274	139	�	�	PROPN
fsr-3246	274	140	5.5	5.5	NUM
fsr-3246	274	141	%	%	NOUN
fsr-3246	274	142	0.0	0.0	NUM
fsr-3246	274	143	%	%	NOUN
fsr-3246	274	144	10.4	10.4	NUM
fsr-3246	274	145	%	%	NOUN
fsr-3246	274	146	5.7	5.7	NUM
fsr-3246	274	147	%	%	NOUN
fsr-3246	274	148	0.1	0.1	NUM
fsr-3246	274	149	%	%	NOUN
fsr-3246	274	150	10.3	10.3	NUM
fsr-3246	274	151	%	%	NOUN
fsr-3246	274	152	5.9	5.9	NUM
fsr-3246	274	153	%	%	NOUN
fsr-3246	274	154	0.4	0.4	NUM
fsr-3246	274	155	%	%	NOUN
fsr-3246	274	156	9.8	9.8	NUM
fsr-3246	274	157	%	%	NOUN
fsr-3246	274	158	calls	call	NOUN
fsr-3246	274	159	/	/	SYM
fsr-3246	274	160	bond	bond	NOUN
fsr-3246	274	161	6.1	6.1	NUM
fsr-3246	274	162	%	%	NOUN
fsr-3246	274	163	0.7	0.7	NUM
fsr-3246	274	164	%	%	NOUN
fsr-3246	274	165	11.1	11.1	NUM
fsr-3246	274	166	%	%	NOUN
fsr-3246	274	167	6.2	6.2	NUM
fsr-3246	274	168	%	%	NOUN
fsr-3246	274	169	0.9	0.9	NUM
fsr-3246	274	170	%	%	NOUN
fsr-3246	274	171	10.9	10.9	NUM
fsr-3246	274	172	%	%	NOUN
fsr-3246	274	173	6.3	6.3	NUM
fsr-3246	274	174	%	%	NOUN
fsr-3246	274	175	1.2	1.2	NUM
fsr-3246	274	176	%	%	NOUN
fsr-3246	274	177	10.7	10.7	NUM
fsr-3246	274	178	%	%	NOUN
fsr-3246	274	179	t	t	NOUN
fsr-3246	274	180	-	-	PUNCT
fsr-3246	274	181	bond	bond	NOUN
fsr-3246	274	182	yield	yield	NOUN
fsr-3246	274	183	�	�	PROPN
fsr-3246	274	184	2.5	2.5	NUM
fsr-3246	274	185	%	%	NOUN
fsr-3246	274	186	cap	cap	NOUN
fsr-3246	274	187	eia	eia	NOUN
fsr-3246	274	188	4.6	4.6	NUM
fsr-3246	274	189	%	%	NOUN
fsr-3246	274	190	1.2	1.2	NUM
fsr-3246	274	191	%	%	NOUN
fsr-3246	274	192	9.5	9.5	NUM
fsr-3246	274	193	%	%	NOUN
fsr-3246	274	194	4.7	4.7	NUM
fsr-3246	274	195	%	%	NOUN
fsr-3246	274	196	1.0	1.0	NUM
fsr-3246	274	197	%	%	NOUN
fsr-3246	274	198	9.4	9.4	NUM
fsr-3246	274	199	%	%	NOUN
fsr-3246	274	200	4.8	4.8	NUM
fsr-3246	274	201	%	%	NOUN
fsr-3246	274	202	1.4	1.4	NUM
fsr-3246	274	203	%	%	NOUN
fsr-3246	274	204	9.3	9.3	NUM
fsr-3246	274	205	%	%	NOUN
fsr-3246	274	206	equity	equity	NOUN
fsr-3246	274	207	/	/	SYM
fsr-3246	274	208	bills	bill	NOUN
fsr-3246	274	209	�	�	PROPN
fsr-3246	274	210	0.16	0.16	NUM
fsr-3246	274	211	�	�	PROPN
fsr-3246	274	212	5.8	5.8	NUM
fsr-3246	274	213	%	%	NOUN
fsr-3246	274	214	�	�	NOUN
fsr-3246	274	215	0.1	0.1	NUM
fsr-3246	274	216	%	%	NOUN
fsr-3246	274	217	10.8	10.8	NUM
fsr-3246	274	218	%	%	NOUN
fsr-3246	274	219	6.1	6.1	NUM
fsr-3246	274	220	%	%	NOUN
fsr-3246	274	221	�	�	NOUN
fsr-3246	274	222	0.1	0.1	NUM
fsr-3246	274	223	%	%	NOUN
fsr-3246	274	224	10.8	10.8	NUM
fsr-3246	274	225	%	%	NOUN
fsr-3246	274	226	6.3	6.3	NUM
fsr-3246	274	227	%	%	NOUN
fsr-3246	274	228	0.3	0.3	NUM
fsr-3246	274	229	%	%	NOUN
fsr-3246	274	230	10.3	10.3	NUM
fsr-3246	274	231	%	%	NOUN
fsr-3246	274	232	calls	call	NOUN
fsr-3246	274	233	/	/	SYM
fsr-3246	274	234	bond	bond	NOUN
fsr-3246	274	235	6.7	6.7	NUM
fsr-3246	274	236	%	%	NOUN
fsr-3246	274	237	0.6	0.6	NUM
fsr-3246	274	238	%	%	NOUN
fsr-3246	274	239	13.5	13.5	NUM
fsr-3246	274	240	%	%	NOUN
fsr-3246	274	241	6.9	6.9	NUM
fsr-3246	274	242	%	%	NOUN
fsr-3246	274	243	0.9	0.9	NUM
fsr-3246	274	244	%	%	NOUN
fsr-3246	274	245	13.4	13.4	NUM
fsr-3246	274	246	%	%	NOUN
fsr-3246	274	247	7.0	7.0	NUM
fsr-3246	274	248	%	%	NOUN
fsr-3246	274	249	1.0	1.0	NUM
fsr-3246	274	250	%	%	NOUN
fsr-3246	274	251	13.1	13.1	NUM
fsr-3246	274	252	%	%	NOUN
fsr-3246	274	253	equity	equity	NOUN
fsr-3246	274	254	/	/	PUNCT
fsr-3246	274	255	put	put	VERB
fsr-3246	274	256	8.3	8.3	NUM
fsr-3246	274	257	%	%	NOUN
fsr-3246	274	258	�	�	PROPN
fsr-3246	274	259	4.5	4.5	NUM
fsr-3246	274	260	%	%	NOUN
fsr-3246	274	261	15.4	15.4	NUM
fsr-3246	274	262	%	%	NOUN
fsr-3246	274	263	8.5	8.5	NUM
fsr-3246	274	264	%	%	NOUN
fsr-3246	274	265	�	�	NOUN
fsr-3246	274	266	3.5	3.5	NUM
fsr-3246	274	267	%	%	NOUN
fsr-3246	274	268	14.6	14.6	NUM
fsr-3246	274	269	%	%	NOUN
fsr-3246	274	270	8.6	8.6	NUM
fsr-3246	274	271	%	%	NOUN
fsr-3246	274	272	�	�	NOUN
fsr-3246	274	273	2.1	2.1	NUM
fsr-3246	274	274	%	%	NOUN
fsr-3246	274	275	15.5	15.5	NUM
fsr-3246	274	276	%	%	NOUN
fsr-3246	274	277	426	426	NUM
fsr-3246	274	278	a.	a.	NOUN
fsr-3246	274	279	terry	terry	PROPN
fsr-3246	274	280	,	,	PUNCT
fsr-3246	274	281	e.	e.	PROPN
fsr-3246	274	282	elder	elder	PROPN
fsr-3246	274	283	/	/	SYM
fsr-3246	274	284	financial	financial	ADJ
fsr-3246	274	285	services	service	NOUN
fsr-3246	274	286	review	review	VERB
fsr-3246	274	287	24	24	NUM
fsr-3246	274	288	(	(	PUNCT
fsr-3246	274	289	2015	2015	NUM
fsr-3246	274	290	)	)	PUNCT
fsr-3246	274	291	411–428	411–428	NUM
fsr-3246	274	292	with	with	ADP
fsr-3246	274	293	the	the	DET
fsr-3246	274	294	level	level	NOUN
fsr-3246	274	295	of	of	ADP
fsr-3246	274	296	interest	interest	NOUN
fsr-3246	274	297	rates	rate	NOUN
fsr-3246	274	298	,	,	PUNCT
fsr-3246	274	299	rather	rather	ADV
fsr-3246	274	300	than	than	SCONJ
fsr-3246	274	301	to	to	PART
fsr-3246	274	302	assume	assume	VERB
fsr-3246	274	303	they	they	PRON
fsr-3246	274	304	are	be	AUX
fsr-3246	274	305	constant	constant	ADJ
fsr-3246	274	306	as	as	ADP
fsr-3246	274	307	in	in	ADP
fsr-3246	274	308	prior	prior	ADJ
fsr-3246	274	309	research	research	NOUN
fsr-3246	274	310	.	.	PUNCT
fsr-3246	275	1	our	our	PRON
fsr-3246	275	2	primary	primary	ADJ
fsr-3246	275	3	conclusion	conclusion	NOUN
fsr-3246	275	4	is	be	AUX
fsr-3246	275	5	summarized	summarize	VERB
fsr-3246	275	6	in	in	ADP
fsr-3246	275	7	part	part	NOUN
fsr-3246	275	8	of	of	ADP
fsr-3246	275	9	the	the	DET
fsr-3246	275	10	title	title	NOUN
fsr-3246	275	11	to	to	ADP
fsr-3246	275	12	collins	collins	PROPN
fsr-3246	275	13	et	et	PROPN
fsr-3246	275	14	al	al	PROPN
fsr-3246	275	15	.	.	PROPN
fsr-3246	275	16	,	,	PUNCT
fsr-3246	275	17	(	(	PUNCT
fsr-3246	275	18	2009	2009	NUM
fsr-3246	275	19	)	)	PUNCT
fsr-3246	275	20	,	,	PUNCT
fsr-3246	275	21	“	"	PUNCT
fsr-3246	275	22	downside	downside	ADJ
fsr-3246	275	23	protection	protection	NOUN
fsr-3246	275	24	,	,	PUNCT
fsr-3246	275	25	but	but	CCONJ
fsr-3246	275	26	at	at	ADP
fsr-3246	275	27	what	what	DET
fsr-3246	275	28	cost	cost	NOUN
fsr-3246	275	29	?	?	PUNCT
fsr-3246	275	30	”	"	PUNCT
fsr-3246	276	1	the	the	DET
fsr-3246	276	2	opportunity	opportunity	NOUN
fsr-3246	276	3	costs	cost	NOUN
fsr-3246	276	4	of	of	ADP
fsr-3246	276	5	investing	invest	VERB
fsr-3246	276	6	in	in	ADP
fsr-3246	276	7	eias	eia	NOUN
fsr-3246	276	8	over	over	ADP
fsr-3246	276	9	long	long	ADJ
fsr-3246	276	10	horizons	horizon	NOUN
fsr-3246	276	11	compared	compare	VERB
fsr-3246	276	12	with	with	ADP
fsr-3246	276	13	reasonable	reasonable	ADJ
fsr-3246	276	14	and	and	CCONJ
fsr-3246	276	15	implementable	implementable	ADJ
fsr-3246	276	16	alternative	alternative	ADJ
fsr-3246	276	17	strategies	strategy	NOUN
fsr-3246	276	18	are	be	AUX
fsr-3246	276	19	quite	quite	ADV
fsr-3246	276	20	high	high	ADJ
fsr-3246	276	21	.	.	PUNCT
fsr-3246	277	1	there	there	PRON
fsr-3246	277	2	may	may	AUX
fsr-3246	277	3	be	be	AUX
fsr-3246	277	4	risk	risk	NOUN
fsr-3246	277	5	averse	averse	ADJ
fsr-3246	277	6	enough	enough	ADJ
fsr-3246	277	7	investors	investor	NOUN
fsr-3246	277	8	for	for	ADP
fsr-3246	277	9	whom	whom	PRON
fsr-3246	277	10	the	the	DET
fsr-3246	277	11	possible	possible	ADJ
fsr-3246	277	12	eia	eia	NOUN
fsr-3246	277	13	returns	return	NOUN
fsr-3246	277	14	make	make	VERB
fsr-3246	277	15	sense	sense	NOUN
fsr-3246	277	16	.	.	PUNCT
fsr-3246	278	1	however	however	ADV
fsr-3246	278	2	,	,	PUNCT
fsr-3246	278	3	at	at	ADP
fsr-3246	278	4	a	a	DET
fsr-3246	278	5	minimum	minimum	NOUN
fsr-3246	278	6	,	,	PUNCT
fsr-3246	278	7	these	these	DET
fsr-3246	278	8	opportunity	opportunity	NOUN
fsr-3246	278	9	costs	cost	NOUN
fsr-3246	278	10	should	should	AUX
fsr-3246	278	11	be	be	AUX
fsr-3246	278	12	disclosed	disclose	VERB
fsr-3246	278	13	to	to	ADP
fsr-3246	278	14	potential	potential	ADJ
fsr-3246	278	15	investors	investor	NOUN
fsr-3246	278	16	at	at	ADP
fsr-3246	278	17	time	time	NOUN
fsr-3246	278	18	of	of	ADP
fsr-3246	278	19	purchase	purchase	NOUN
fsr-3246	278	20	.	.	PUNCT
fsr-3246	279	1	notes	note	VERB
fsr-3246	279	2	1	1	NUM
fsr-3246	279	3	the	the	DET
fsr-3246	279	4	sec	sec	PROPN
fsr-3246	279	5	treats	treat	VERB
fsr-3246	279	6	equity	equity	NOUN
fsr-3246	279	7	index	index	NOUN
fsr-3246	279	8	annuities	annuity	NOUN
fsr-3246	279	9	as	as	ADP
fsr-3246	279	10	a	a	DET
fsr-3246	279	11	separate	separate	ADJ
fsr-3246	279	12	class	class	NOUN
fsr-3246	279	13	of	of	ADP
fsr-3246	279	14	annuity	annuity	NOUN
fsr-3246	279	15	,	,	PUNCT
fsr-3246	279	16	along	along	ADP
fsr-3246	279	17	with	with	ADP
fsr-3246	279	18	variable	variable	NOUN
fsr-3246	279	19	and	and	CCONJ
fsr-3246	279	20	fixed	fix	VERB
fsr-3246	279	21	.	.	PUNCT
fsr-3246	280	1	furthermore	furthermore	ADV
fsr-3246	280	2	,	,	PUNCT
fsr-3246	280	3	because	because	SCONJ
fsr-3246	280	4	performance	performance	NOUN
fsr-3246	280	5	does	do	AUX
fsr-3246	280	6	not	not	PART
fsr-3246	280	7	depend	depend	VERB
fsr-3246	280	8	on	on	ADP
fsr-3246	280	9	investments	investment	NOUN
fsr-3246	280	10	in	in	ADP
fsr-3246	280	11	a	a	DET
fsr-3246	280	12	subaccount	subaccount	NOUN
fsr-3246	280	13	or	or	CCONJ
fsr-3246	280	14	separate	separate	ADJ
fsr-3246	280	15	account	account	NOUN
fsr-3246	280	16	,	,	PUNCT
fsr-3246	280	17	these	these	DET
fsr-3246	280	18	annuities	annuity	NOUN
fsr-3246	280	19	are	be	AUX
fsr-3246	280	20	“	"	PUNCT
fsr-3246	280	21	exempt	exempt	ADJ
fsr-3246	280	22	securities	security	NOUN
fsr-3246	280	23	”	"	PUNCT
fsr-3246	280	24	under	under	ADP
fsr-3246	280	25	section	section	NOUN
fsr-3246	280	26	989j	989j	NUM
fsr-3246	280	27	of	of	ADP
fsr-3246	280	28	the	the	DET
fsr-3246	280	29	dodd	dodd	PROPN
fsr-3246	280	30	frank	frank	PROPN
fsr-3246	280	31	act	act	PROPN
fsr-3246	280	32	if	if	SCONJ
fsr-3246	280	33	they	they	PRON
fsr-3246	280	34	are	be	AUX
fsr-3246	280	35	issued	issue	VERB
fsr-3246	280	36	in	in	ADP
fsr-3246	280	37	states	state	NOUN
fsr-3246	280	38	that	that	PRON
fsr-3246	280	39	adopt	adopt	VERB
fsr-3246	280	40	the	the	DET
fsr-3246	280	41	naic	naic	PROPN
fsr-3246	280	42	suitability	suitability	NOUN
fsr-3246	280	43	in	in	ADP
fsr-3246	280	44	annuity	annuity	NOUN
fsr-3246	280	45	transactions	transaction	NOUN
fsr-3246	280	46	model	model	NOUN
fsr-3246	280	47	.	.	PUNCT
fsr-3246	281	1	because	because	SCONJ
fsr-3246	281	2	of	of	ADP
fsr-3246	281	3	the	the	DET
fsr-3246	281	4	low	low	ADJ
fsr-3246	281	5	interest	interest	NOUN
fsr-3246	281	6	rate	rate	NOUN
fsr-3246	281	7	environment	environment	NOUN
fsr-3246	281	8	some	some	DET
fsr-3246	281	9	insurance	insurance	NOUN
fsr-3246	281	10	companies	company	NOUN
fsr-3246	281	11	are	be	AUX
fsr-3246	281	12	creating	create	VERB
fsr-3246	281	13	registered	registered	ADJ
fsr-3246	281	14	securities	security	NOUN
fsr-3246	281	15	that	that	PRON
fsr-3246	281	16	merge	merge	VERB
fsr-3246	281	17	the	the	DET
fsr-3246	281	18	benefits	benefit	NOUN
fsr-3246	281	19	of	of	ADP
fsr-3246	281	20	fixed	fix	VERB
fsr-3246	281	21	and	and	CCONJ
fsr-3246	281	22	variable	variable	ADJ
fsr-3246	281	23	annuities	annuity	NOUN
fsr-3246	281	24	.	.	PUNCT
fsr-3246	282	1	2	2	NUM
fsr-3246	282	2	equity	equity	NOUN
fsr-3246	282	3	index	index	NOUN
fsr-3246	282	4	annuity	annuity	NOUN
fsr-3246	282	5	sales	sale	NOUN
fsr-3246	282	6	now	now	ADV
fsr-3246	282	7	comprise	comprise	VERB
fsr-3246	282	8	over	over	ADP
fsr-3246	282	9	half	half	NOUN
fsr-3246	282	10	of	of	ADP
fsr-3246	282	11	the	the	DET
fsr-3246	282	12	fixed	fix	VERB
fsr-3246	282	13	annuity	annuity	NOUN
fsr-3246	282	14	market	market	NOUN
fsr-3246	282	15	,	,	PUNCT
fsr-3246	282	16	with	with	ADP
fsr-3246	282	17	$	$	SYM
fsr-3246	282	18	34	34	NUM
fsr-3246	282	19	billion	billion	NUM
fsr-3246	282	20	sold	sell	VERB
fsr-3246	282	21	in	in	ADP
fsr-3246	282	22	2012	2012	NUM
fsr-3246	282	23	.	.	PUNCT
fsr-3246	283	1	insured	insure	VERB
fsr-3246	283	2	retirement	retirement	PROPN
fsr-3246	283	3	institute	institute	PROPN
fsr-3246	283	4	2013	2013	NUM
fsr-3246	283	5	fact	fact	NOUN
fsr-3246	283	6	book	book	NOUN
fsr-3246	283	7	.	.	PUNCT
fsr-3246	283	8	3	3	NUM
fsr-3246	283	9	in	in	ADP
fsr-3246	283	10	addition	addition	NOUN
fsr-3246	283	11	to	to	ADP
fsr-3246	283	12	the	the	DET
fsr-3246	283	13	investment	investment	NOUN
fsr-3246	283	14	aspect	aspect	NOUN
fsr-3246	283	15	,	,	PUNCT
fsr-3246	283	16	there	there	PRON
fsr-3246	283	17	are	be	VERB
fsr-3246	283	18	tax	tax	NOUN
fsr-3246	283	19	and	and	CCONJ
fsr-3246	283	20	insurance	insurance	NOUN
fsr-3246	283	21	aspects	aspect	NOUN
fsr-3246	283	22	associated	associate	VERB
fsr-3246	283	23	with	with	ADP
fsr-3246	283	24	eias	eia	NOUN
fsr-3246	283	25	.	.	PUNCT
fsr-3246	284	1	the	the	DET
fsr-3246	284	2	potential	potential	ADJ
fsr-3246	284	3	tax	tax	NOUN
fsr-3246	284	4	and	and	CCONJ
fsr-3246	284	5	insurance	insurance	NOUN
fsr-3246	284	6	benefits	benefit	NOUN
fsr-3246	284	7	of	of	ADP
fsr-3246	284	8	eias	eia	NOUN
fsr-3246	284	9	are	be	AUX
fsr-3246	284	10	beyond	beyond	ADP
fsr-3246	284	11	the	the	DET
fsr-3246	284	12	scope	scope	NOUN
fsr-3246	284	13	of	of	ADP
fsr-3246	284	14	this	this	DET
fsr-3246	284	15	article	article	NOUN
fsr-3246	284	16	.	.	PUNCT
fsr-3246	285	1	4	4	NUM
fsr-3246	285	2	empirically	empirically	ADV
fsr-3246	285	3	,	,	PUNCT
fsr-3246	285	4	mccann	mccann	PROPN
fsr-3246	285	5	(	(	PUNCT
fsr-3246	285	6	2008	2008	NUM
fsr-3246	285	7	)	)	PUNCT
fsr-3246	285	8	constructed	construct	VERB
fsr-3246	285	9	241	241	NUM
fsr-3246	285	10	10	10	NUM
fsr-3246	285	11	-	-	PUNCT
fsr-3246	285	12	year	year	NOUN
fsr-3246	285	13	,	,	PUNCT
fsr-3246	285	14	month	month	NOUN
fsr-3246	285	15	-	-	PUNCT
fsr-3246	285	16	by	by	ADP
fsr-3246	285	17	-	-	PUNCT
fsr-3246	285	18	month	month	NOUN
fsr-3246	285	19	rolling	rolling	ADJ
fsr-3246	285	20	time	time	NOUN
fsr-3246	285	21	periods	period	NOUN
fsr-3246	285	22	from	from	ADP
fsr-3246	285	23	1975–2004	1975–2004	NUM
fsr-3246	285	24	and	and	CCONJ
fsr-3246	285	25	found	find	VERB
fsr-3246	285	26	that	that	SCONJ
fsr-3246	285	27	the	the	DET
fsr-3246	285	28	monthly	monthly	ADJ
fsr-3246	285	29	averaging	averaging	NOUN
fsr-3246	285	30	method	method	NOUN
fsr-3246	285	31	resulted	result	VERB
fsr-3246	285	32	in	in	ADP
fsr-3246	285	33	a	a	DET
fsr-3246	285	34	final	final	ADJ
fsr-3246	285	35	wealth	wealth	NOUN
fsr-3246	285	36	amount	amount	NOUN
fsr-3246	285	37	that	that	PRON
fsr-3246	285	38	was	be	AUX
fsr-3246	285	39	44	44	NUM
fsr-3246	285	40	%	%	NOUN
fsr-3246	285	41	lower	low	ADJ
fsr-3246	285	42	than	than	ADP
fsr-3246	285	43	the	the	DET
fsr-3246	285	44	annual	annual	ADJ
fsr-3246	285	45	point	point	NOUN
fsr-3246	285	46	-	-	PUNCT
fsr-3246	285	47	to	to	ADP
fsr-3246	285	48	-	-	PUNCT
fsr-3246	285	49	point	point	NOUN
fsr-3246	285	50	method	method	NOUN
fsr-3246	285	51	.	.	PUNCT
fsr-3246	286	1	5	5	NUM
fsr-3246	286	2	see	see	VERB
fsr-3246	286	3	www.indexannuity.org/rates_by_carrier.htm	www.indexannuity.org/rates_by_carrier.htm	NOUN
fsr-3246	286	4	for	for	ADP
fsr-3246	286	5	current	current	ADJ
fsr-3246	286	6	rates	rate	NOUN
fsr-3246	286	7	and	and	CCONJ
fsr-3246	286	8	to	to	PART
fsr-3246	286	9	get	get	VERB
fsr-3246	286	10	a	a	DET
fsr-3246	286	11	sense	sense	NOUN
fsr-3246	286	12	for	for	ADP
fsr-3246	286	13	the	the	DET
fsr-3246	286	14	number	number	NOUN
fsr-3246	286	15	of	of	ADP
fsr-3246	286	16	products	product	NOUN
fsr-3246	286	17	available	available	ADJ
fsr-3246	286	18	.	.	PUNCT
fsr-3246	287	1	surrender	surrender	NOUN
fsr-3246	287	2	periods	period	NOUN
fsr-3246	287	3	are	be	AUX
fsr-3246	287	4	not	not	PART
fsr-3246	287	5	listed	list	VERB
fsr-3246	287	6	,	,	PUNCT
fsr-3246	287	7	but	but	CCONJ
fsr-3246	287	8	most	most	ADJ
fsr-3246	287	9	eias	eia	NOUN
fsr-3246	287	10	have	have	VERB
fsr-3246	287	11	surrender	surrender	NOUN
fsr-3246	287	12	periods	period	NOUN
fsr-3246	287	13	between	between	ADP
fsr-3246	287	14	10	10	NUM
fsr-3246	287	15	and	and	CCONJ
fsr-3246	287	16	15	15	NUM
fsr-3246	287	17	years	year	NOUN
fsr-3246	287	18	.	.	PUNCT
fsr-3246	288	1	6	6	NUM
fsr-3246	289	1	because	because	SCONJ
fsr-3246	289	2	caps	cap	NOUN
fsr-3246	289	3	,	,	PUNCT
fsr-3246	289	4	participation	participation	NOUN
fsr-3246	289	5	rates	rate	NOUN
fsr-3246	289	6	,	,	PUNCT
fsr-3246	289	7	spreads	spread	NOUN
fsr-3246	289	8	,	,	PUNCT
fsr-3246	289	9	surrender	surrender	NOUN
fsr-3246	289	10	periods	period	NOUN
fsr-3246	289	11	,	,	PUNCT
fsr-3246	289	12	and	and	CCONJ
fsr-3246	289	13	other	other	ADJ
fsr-3246	289	14	contract	contract	NOUN
fsr-3246	289	15	features	feature	NOUN
fsr-3246	289	16	differ	differ	VERB
fsr-3246	289	17	from	from	ADP
fsr-3246	289	18	contract	contract	NOUN
fsr-3246	289	19	to	to	ADP
fsr-3246	289	20	contract	contract	NOUN
fsr-3246	289	21	,	,	PUNCT
fsr-3246	289	22	and	and	CCONJ
fsr-3246	289	23	because	because	SCONJ
fsr-3246	289	24	some	some	DET
fsr-3246	289	25	features	feature	NOUN
fsr-3246	289	26	can	can	AUX
fsr-3246	289	27	be	be	AUX
fsr-3246	289	28	changed	change	VERB
fsr-3246	289	29	by	by	ADP
fsr-3246	289	30	the	the	DET
fsr-3246	289	31	insurance	insurance	NOUN
fsr-3246	289	32	company	company	NOUN
fsr-3246	289	33	after	after	ADP
fsr-3246	289	34	the	the	DET
fsr-3246	289	35	first	first	ADJ
fsr-3246	289	36	year	year	NOUN
fsr-3246	289	37	,	,	PUNCT
fsr-3246	289	38	modeling	model	VERB
fsr-3246	289	39	all	all	DET
fsr-3246	289	40	the	the	DET
fsr-3246	289	41	possible	possible	ADJ
fsr-3246	289	42	iterations	iteration	NOUN
fsr-3246	289	43	of	of	ADP
fsr-3246	289	44	eias	eia	NOUN
fsr-3246	289	45	is	be	AUX
fsr-3246	289	46	beyond	beyond	ADP
fsr-3246	289	47	the	the	DET
fsr-3246	289	48	scope	scope	NOUN
fsr-3246	289	49	of	of	ADP
fsr-3246	289	50	this	this	DET
fsr-3246	289	51	article	article	NOUN
fsr-3246	289	52	.	.	PUNCT
fsr-3246	290	1	7	7	NUM
fsr-3246	290	2	see	see	VERB
fsr-3246	290	3	also	also	ADV
fsr-3246	290	4	carver	carver	NOUN
fsr-3246	290	5	(	(	PUNCT
fsr-3246	290	6	2013	2013	NUM
fsr-3246	290	7	)	)	PUNCT
fsr-3246	290	8	for	for	ADP
fsr-3246	290	9	an	an	DET
fsr-3246	290	10	application	application	NOUN
fsr-3246	290	11	of	of	ADP
fsr-3246	290	12	monte	monte	PROPN
fsr-3246	290	13	carlo	carlo	PROPN
fsr-3246	290	14	simulation	simulation	PROPN
fsr-3246	290	15	to	to	PART
fsr-3246	290	16	eias	eias	VERB
fsr-3246	290	17	as	as	ADP
fsr-3246	290	18	a	a	DET
fsr-3246	290	19	teaching	teaching	NOUN
fsr-3246	290	20	assignment	assignment	NOUN
fsr-3246	290	21	.	.	PUNCT
fsr-3246	291	1	8	8	NUM
fsr-3246	291	2	in	in	ADP
fsr-3246	291	3	the	the	DET
fsr-3246	291	4	first	first	ADJ
fsr-3246	291	5	year	year	NOUN
fsr-3246	291	6	of	of	ADP
fsr-3246	291	7	reichenstein	reichenstein	NOUN
fsr-3246	291	8	’s	’s	PART
fsr-3246	291	9	time	time	NOUN
fsr-3246	291	10	period	period	NOUN
fsr-3246	291	11	equity	equity	NOUN
fsr-3246	291	12	returns	return	NOUN
fsr-3246	291	13	were	be	AUX
fsr-3246	291	14	negative	negative	ADJ
fsr-3246	291	15	so	so	SCONJ
fsr-3246	291	16	that	that	SCONJ
fsr-3246	291	17	the	the	DET
fsr-3246	291	18	remaining	remain	VERB
fsr-3246	291	19	years	year	NOUN
fsr-3246	291	20	’	'	PUNCT
fsr-3246	291	21	cap	cap	NOUN
fsr-3246	291	22	is	be	AUX
fsr-3246	291	23	effectively	effectively	ADV
fsr-3246	291	24	the	the	DET
fsr-3246	291	25	beginning	begin	VERB
fsr-3246	291	26	cap	cap	NOUN
fsr-3246	291	27	as	as	ADV
fsr-3246	291	28	well	well	ADV
fsr-3246	291	29	.	.	PUNCT
fsr-3246	292	1	9	9	NUM
fsr-3246	292	2	we	we	PRON
fsr-3246	292	3	also	also	ADV
fsr-3246	292	4	re	re	VERB
fsr-3246	292	5	-	-	VERB
fsr-3246	292	6	estimate	estimate	VERB
fsr-3246	292	7	his	his	PRON
fsr-3246	292	8	original	original	ADJ
fsr-3246	292	9	regressions	regression	NOUN
fsr-3246	292	10	for	for	ADP
fsr-3246	292	11	the	the	DET
fsr-3246	292	12	1957–2008	1957–2008	NUM
fsr-3246	292	13	time	time	NOUN
fsr-3246	292	14	period	period	NOUN
fsr-3246	292	15	,	,	PUNCT
fsr-3246	292	16	to	to	PART
fsr-3246	292	17	insure	insure	VERB
fsr-3246	292	18	the	the	DET
fsr-3246	292	19	integrity	integrity	NOUN
fsr-3246	292	20	of	of	ADP
fsr-3246	292	21	our	our	PRON
fsr-3246	292	22	data	datum	NOUN
fsr-3246	292	23	and	and	CCONJ
fsr-3246	292	24	obtain	obtain	VERB
fsr-3246	292	25	the	the	DET
fsr-3246	292	26	same	same	ADJ
fsr-3246	292	27	results	result	NOUN
fsr-3246	292	28	he	he	PRON
fsr-3246	292	29	reported	report	VERB
fsr-3246	292	30	(	(	PUNCT
fsr-3246	292	31	see	see	VERB
fsr-3246	292	32	table	table	NOUN
fsr-3246	292	33	3	3	NUM
fsr-3246	292	34	)	)	PUNCT
fsr-3246	292	35	.	.	PUNCT
fsr-3246	293	1	it	it	PRON
fsr-3246	293	2	should	should	AUX
fsr-3246	293	3	also	also	ADV
fsr-3246	293	4	be	be	AUX
fsr-3246	293	5	noted	note	VERB
fsr-3246	293	6	that	that	SCONJ
fsr-3246	293	7	the	the	DET
fsr-3246	293	8	distribution	distribution	NOUN
fsr-3246	293	9	of	of	ADP
fsr-3246	293	10	returns	return	NOUN
fsr-3246	293	11	assumption	assumption	NOUN
fsr-3246	293	12	,	,	PUNCT
fsr-3246	293	13	or	or	CCONJ
fsr-3246	293	14	alternatively	alternatively	ADV
fsr-3246	293	15	,	,	PUNCT
fsr-3246	293	16	required	require	VERB
fsr-3246	293	17	utility	utility	NOUN
fsr-3246	293	18	function	function	NOUN
fsr-3246	293	19	assumptions	assumption	NOUN
fsr-3246	293	20	,	,	PUNCT
fsr-3246	293	21	necessary	necessary	ADJ
fsr-3246	293	22	to	to	PART
fsr-3246	293	23	support	support	VERB
fsr-3246	293	24	a	a	DET
fsr-3246	293	25	capm	capm	NOUN
fsr-3246	293	26	analysis	analysis	NOUN
fsr-3246	293	27	have	have	AUX
fsr-3246	293	28	been	be	AUX
fsr-3246	293	29	widely	widely	ADV
fsr-3246	293	30	criticized	criticize	VERB
fsr-3246	293	31	in	in	ADP
fsr-3246	293	32	the	the	DET
fsr-3246	293	33	literature	literature	NOUN
fsr-3246	293	34	.	.	PUNCT
fsr-3246	294	1	in	in	ADP
fsr-3246	294	2	a	a	DET
fsr-3246	294	3	later	later	ADJ
fsr-3246	294	4	section	section	NOUN
fsr-3246	294	5	we	we	PRON
fsr-3246	294	6	attempt	attempt	VERB
fsr-3246	294	7	to	to	PART
fsr-3246	294	8	account	account	VERB
fsr-3246	294	9	for	for	ADP
fsr-3246	294	10	the	the	DET
fsr-3246	294	11	truncated	truncate	VERB
fsr-3246	294	12	returns	return	NOUN
fsr-3246	294	13	of	of	ADP
fsr-3246	294	14	eias	eia	NOUN
fsr-3246	294	15	by	by	ADP
fsr-3246	294	16	modeling	model	VERB
fsr-3246	294	17	the	the	DET
fsr-3246	294	18	option	option	NOUN
fsr-3246	294	19	characteristics	characteristic	NOUN
fsr-3246	294	20	.	.	PUNCT
fsr-3246	295	1	427a	427a	PROPN
fsr-3246	295	2	.	.	PUNCT
fsr-3246	296	1	terry	terry	PROPN
fsr-3246	296	2	,	,	PUNCT
fsr-3246	296	3	e.	e.	PROPN
fsr-3246	296	4	elder	elder	PROPN
fsr-3246	296	5	/	/	SYM
fsr-3246	296	6	financial	financial	ADJ
fsr-3246	296	7	services	service	NOUN
fsr-3246	296	8	review	review	VERB
fsr-3246	296	9	24	24	NUM
fsr-3246	296	10	(	(	PUNCT
fsr-3246	296	11	2015	2015	NUM
fsr-3246	296	12	)	)	PUNCT
fsr-3246	297	1	411–428	411–428	NUM
fsr-3246	297	2	10	10	NUM
fsr-3246	297	3	see	see	VERB
fsr-3246	297	4	either	either	CCONJ
fsr-3246	297	5	yahoo	yahoo	PROPN
fsr-3246	297	6	finance	finance	NOUN
fsr-3246	297	7	or	or	CCONJ
fsr-3246	297	8	morningstar.com	morningstar.com	X
fsr-3246	297	9	for	for	ADP
fsr-3246	297	10	expense	expense	NOUN
fsr-3246	297	11	ratios	ratio	NOUN
fsr-3246	297	12	.	.	PUNCT
fsr-3246	298	1	for	for	ADP
fsr-3246	298	2	vanguard	vanguard	PROPN
fsr-3246	298	3	s&p	s&p	PROPN
fsr-3246	298	4	500	500	NUM
fsr-3246	298	5	etf	etf	NOUN
fsr-3246	298	6	,	,	PUNCT
fsr-3246	298	7	see	see	VERB
fsr-3246	298	8	symbol	symbol	NOUN
fsr-3246	298	9	voo	voo	ADJ
fsr-3246	298	10	.	.	PUNCT
fsr-3246	299	1	for	for	ADP
fsr-3246	299	2	s&p	s&p	PROPN
fsr-3246	299	3	500	500	NUM
fsr-3246	299	4	index	index	NOUN
fsr-3246	299	5	mutual	mutual	ADJ
fsr-3246	299	6	fund	fund	NOUN
fsr-3246	299	7	,	,	PUNCT
fsr-3246	299	8	see	see	VERB
fsr-3246	299	9	symbol	symbol	NOUN
fsr-3246	299	10	vfinx	vfinx	NOUN
fsr-3246	299	11	.	.	PUNCT
fsr-3246	300	1	11	11	NUM
fsr-3246	301	1	the	the	DET
fsr-3246	301	2	variable	variable	ADJ
fsr-3246	301	3	cap	cap	NOUN
fsr-3246	301	4	had	have	VERB
fsr-3246	301	5	a	a	DET
fsr-3246	301	6	mean	mean	NOUN
fsr-3246	301	7	of	of	ADP
fsr-3246	301	8	7.2	7.2	NUM
fsr-3246	301	9	%	%	NOUN
fsr-3246	301	10	over	over	ADP
fsr-3246	301	11	the	the	DET
fsr-3246	301	12	time	time	NOUN
fsr-3246	301	13	period	period	NOUN
fsr-3246	301	14	,	,	PUNCT
fsr-3246	301	15	and	and	CCONJ
fsr-3246	301	16	consequently	consequently	ADV
fsr-3246	301	17	the	the	DET
fsr-3246	301	18	variable	variable	ADJ
fsr-3246	301	19	cap	cap	NOUN
fsr-3246	301	20	eia	eia	PROPN
fsr-3246	301	21	is	be	AUX
fsr-3246	301	22	compared	compare	VERB
fsr-3246	301	23	with	with	ADP
fsr-3246	301	24	the	the	DET
fsr-3246	301	25	same	same	ADJ
fsr-3246	301	26	.16	.16	PROPN
fsr-3246	301	27	�	�	PROPN
fsr-3246	301	28	equity	equity	PROPN
fsr-3246	301	29	/	/	SYM
fsr-3246	301	30	bill	bill	NOUN
fsr-3246	301	31	(	(	PUNCT
fsr-3246	301	32	eb	eb	PROPN
fsr-3246	301	33	)	)	PUNCT
fsr-3246	301	34	portfolio	portfolio	NOUN
fsr-3246	301	35	that	that	PRON
fsr-3246	301	36	was	be	AUX
fsr-3246	301	37	compared	compare	VERB
fsr-3246	301	38	with	with	ADP
fsr-3246	301	39	the	the	DET
fsr-3246	301	40	7	7	NUM
fsr-3246	301	41	%	%	NOUN
fsr-3246	301	42	cap	cap	NOUN
fsr-3246	301	43	eia	eia	PROPN
fsr-3246	301	44	.	.	PUNCT
fsr-3246	302	1	12	12	NUM
fsr-3246	302	2	the	the	DET
fsr-3246	302	3	last	last	ADJ
fsr-3246	302	4	beginning	beginning	NOUN
fsr-3246	302	5	month	month	NOUN
fsr-3246	302	6	would	would	AUX
fsr-3246	302	7	have	have	AUX
fsr-3246	302	8	been	be	AUX
fsr-3246	302	9	june	june	PROPN
fsr-3246	302	10	2003	2003	NUM
fsr-3246	302	11	because	because	SCONJ
fsr-3246	302	12	10	10	NUM
fsr-3246	302	13	-	-	PUNCT
fsr-3246	302	14	year	year	NOUN
fsr-3246	302	15	and	and	CCONJ
fsr-3246	302	16	greater	great	ADJ
fsr-3246	302	17	holding	hold	VERB
fsr-3246	302	18	period	period	NOUN
fsr-3246	302	19	returns	return	NOUN
fsr-3246	302	20	are	be	AUX
fsr-3246	302	21	not	not	PART
fsr-3246	302	22	available	available	ADJ
fsr-3246	302	23	after	after	ADP
fsr-3246	302	24	then	then	ADV
fsr-3246	302	25	.	.	PUNCT
fsr-3246	303	1	thus	thus	ADV
fsr-3246	303	2	,	,	PUNCT
fsr-3246	303	3	the	the	DET
fsr-3246	303	4	history	history	NOUN
fsr-3246	303	5	will	will	AUX
fsr-3246	303	6	include	include	VERB
fsr-3246	303	7	someone	someone	PRON
fsr-3246	303	8	who	who	PRON
fsr-3246	303	9	bought	buy	VERB
fsr-3246	303	10	in	in	ADP
fsr-3246	303	11	march	march	PROPN
fsr-3246	303	12	1999	1999	NUM
fsr-3246	303	13	and	and	CCONJ
fsr-3246	303	14	sold	sell	VERB
fsr-3246	303	15	at	at	ADP
fsr-3246	303	16	the	the	DET
fsr-3246	303	17	low	low	NOUN
fsr-3246	303	18	in	in	ADP
fsr-3246	303	19	march	march	PROPN
fsr-3246	303	20	2009	2009	NUM
fsr-3246	303	21	,	,	PUNCT
fsr-3246	303	22	but	but	CCONJ
fsr-3246	303	23	would	would	AUX
fsr-3246	303	24	not	not	PART
fsr-3246	303	25	include	include	VERB
fsr-3246	303	26	someone	someone	PRON
fsr-3246	303	27	who	who	PRON
fsr-3246	303	28	bought	buy	VERB
fsr-3246	303	29	at	at	ADP
fsr-3246	303	30	the	the	DET
fsr-3246	303	31	low	low	NOUN
fsr-3246	303	32	in	in	ADP
fsr-3246	303	33	march	march	PROPN
fsr-3246	303	34	2009	2009	NUM
fsr-3246	303	35	and	and	CCONJ
fsr-3246	303	36	sold	sell	VERB
fsr-3246	303	37	in	in	ADP
fsr-3246	303	38	march	march	PROPN
fsr-3246	303	39	2019	2019	NUM
fsr-3246	303	40	.	.	PUNCT
fsr-3246	304	1	thus	thus	ADV
fsr-3246	304	2	the	the	DET
fsr-3246	304	3	collapse	collapse	NOUN
fsr-3246	304	4	in	in	ADP
fsr-3246	304	5	2009	2009	NUM
fsr-3246	304	6	is	be	AUX
fsr-3246	304	7	getting	getting	AUX
fsr-3246	304	8	captured	capture	VERB
fsr-3246	304	9	in	in	ADP
fsr-3246	304	10	the	the	DET
fsr-3246	304	11	history	history	NOUN
fsr-3246	304	12	,	,	PUNCT
fsr-3246	304	13	but	but	CCONJ
fsr-3246	304	14	someone	someone	PRON
fsr-3246	304	15	who	who	PRON
fsr-3246	304	16	bought	buy	VERB
fsr-3246	304	17	in	in	ADP
fsr-3246	304	18	june	june	PROPN
fsr-3246	304	19	2003	2003	NUM
fsr-3246	304	20	and	and	CCONJ
fsr-3246	304	21	sold	sell	VERB
fsr-3246	304	22	in	in	ADP
fsr-3246	304	23	june	june	PROPN
fsr-3246	304	24	2013	2013	NUM
fsr-3246	304	25	and	and	CCONJ
fsr-3246	304	26	doubled	double	VERB
fsr-3246	304	27	her	her	PRON
fsr-3246	304	28	money	money	NOUN
fsr-3246	304	29	would	would	AUX
fsr-3246	304	30	not	not	PART
fsr-3246	304	31	.	.	PUNCT
fsr-3246	305	1	furthermore	furthermore	ADV
fsr-3246	305	2	,	,	PUNCT
fsr-3246	305	3	note	note	VERB
fsr-3246	305	4	that	that	SCONJ
fsr-3246	305	5	reichenstein	reichenstein	NOUN
fsr-3246	305	6	(	(	PUNCT
fsr-3246	305	7	2009	2009	NUM
fsr-3246	305	8	)	)	PUNCT
fsr-3246	305	9	calculated	calculate	VERB
fsr-3246	305	10	annual	annual	ADJ
fsr-3246	305	11	returns	return	NOUN
fsr-3246	305	12	assuming	assume	VERB
fsr-3246	305	13	an	an	DET
fsr-3246	305	14	investor	investor	NOUN
fsr-3246	305	15	bought	buy	VERB
fsr-3246	305	16	in	in	ADP
fsr-3246	305	17	january	january	PROPN
fsr-3246	305	18	and	and	CCONJ
fsr-3246	305	19	sold	sell	VERB
fsr-3246	305	20	in	in	ADP
fsr-3246	305	21	december	december	PROPN
fsr-3246	305	22	of	of	ADP
fsr-3246	305	23	every	every	DET
fsr-3246	305	24	year	year	NOUN
fsr-3246	305	25	,	,	PUNCT
fsr-3246	305	26	and	and	CCONJ
fsr-3246	305	27	thus	thus	ADV
fsr-3246	305	28	,	,	PUNCT
fsr-3246	305	29	captures	capture	VERB
fsr-3246	305	30	only	only	ADV
fsr-3246	305	31	one	one	NUM
fsr-3246	305	32	of	of	ADP
fsr-3246	305	33	several	several	ADJ
fsr-3246	305	34	possible	possible	ADJ
fsr-3246	305	35	sequences	sequence	NOUN
fsr-3246	305	36	of	of	ADP
fsr-3246	305	37	annual	annual	ADJ
fsr-3246	305	38	returns	return	NOUN
fsr-3246	305	39	represented	represent	VERB
fsr-3246	305	40	by	by	ADP
fsr-3246	305	41	history	history	NOUN
fsr-3246	305	42	.	.	PUNCT
fsr-3246	306	1	13	13	NUM
fsr-3246	306	2	our	our	PRON
fsr-3246	306	3	holding	hold	VERB
fsr-3246	306	4	periods	period	NOUN
fsr-3246	306	5	contain	contain	VERB
fsr-3246	306	6	overlapping	overlap	VERB
fsr-3246	306	7	periods	period	NOUN
fsr-3246	306	8	and	and	CCONJ
fsr-3246	306	9	thus	thus	ADV
fsr-3246	306	10	are	be	AUX
fsr-3246	306	11	not	not	PART
fsr-3246	306	12	statistically	statistically	ADV
fsr-3246	306	13	independent	independent	ADJ
fsr-3246	306	14	.	.	PUNCT
fsr-3246	307	1	consequently	consequently	ADV
fsr-3246	307	2	,	,	PUNCT
fsr-3246	307	3	our	our	PRON
fsr-3246	307	4	statistics	statistic	NOUN
fsr-3246	307	5	are	be	AUX
fsr-3246	307	6	descriptive	descriptive	ADJ
fsr-3246	307	7	of	of	ADP
fsr-3246	307	8	returns	return	NOUN
fsr-3246	307	9	that	that	PRON
fsr-3246	307	10	occurred	occur	VERB
fsr-3246	307	11	for	for	ADP
fsr-3246	307	12	all	all	DET
fsr-3246	307	13	possible	possible	ADJ
fsr-3246	307	14	sequences	sequence	NOUN
fsr-3246	307	15	and	and	CCONJ
fsr-3246	307	16	are	be	AUX
fsr-3246	307	17	not	not	PART
fsr-3246	307	18	probabilistic	probabilistic	ADJ
fsr-3246	307	19	statements	statement	NOUN
fsr-3246	307	20	about	about	ADP
fsr-3246	307	21	likely	likely	ADJ
fsr-3246	307	22	future	future	ADJ
fsr-3246	307	23	returns	return	NOUN
fsr-3246	307	24	.	.	PUNCT
fsr-3246	308	1	our	our	PRON
fsr-3246	308	2	tables	table	NOUN
fsr-3246	308	3	report	report	NOUN
fsr-3246	308	4	percentiles	percentile	NOUN
fsr-3246	308	5	and	and	CCONJ
fsr-3246	308	6	not	not	PART
fsr-3246	308	7	confidence	confidence	NOUN
fsr-3246	308	8	intervals	interval	NOUN
fsr-3246	308	9	.	.	PUNCT
fsr-3246	309	1	14	14	NUM
fsr-3246	309	2	only	only	ADV
fsr-3246	309	3	the	the	DET
fsr-3246	309	4	7	7	NUM
fsr-3246	309	5	%	%	NOUN
fsr-3246	309	6	and	and	CCONJ
fsr-3246	309	7	variable	variable	ADJ
fsr-3246	309	8	cap	cap	NOUN
fsr-3246	309	9	are	be	AUX
fsr-3246	309	10	shown	show	VERB
fsr-3246	309	11	because	because	SCONJ
fsr-3246	309	12	the	the	DET
fsr-3246	309	13	5	5	NUM
fsr-3246	309	14	%	%	NOUN
fsr-3246	309	15	cap	cap	NOUN
fsr-3246	309	16	adds	add	VERB
fsr-3246	309	17	little	little	ADJ
fsr-3246	309	18	to	to	ADP
fsr-3246	309	19	the	the	DET
fsr-3246	309	20	illustration	illustration	NOUN
fsr-3246	309	21	.	.	PUNCT
fsr-3246	310	1	references	reference	NOUN
fsr-3246	310	2	bodie	bodie	PROPN
fsr-3246	310	3	,	,	PUNCT
fsr-3246	310	4	z.	z.	PROPN
fsr-3246	310	5	,	,	PUNCT
fsr-3246	310	6	kane	kane	PROPN
fsr-3246	310	7	,	,	PUNCT
fsr-3246	310	8	a.	a.	PROPN
fsr-3246	310	9	,	,	PUNCT
fsr-3246	310	10	&	&	CCONJ
fsr-3246	310	11	marcus	marcus	PROPN
fsr-3246	310	12	,	,	PUNCT
fsr-3246	310	13	a.	a.	PROPN
fsr-3246	310	14	(	(	PUNCT
fsr-3246	310	15	2013	2013	NUM
fsr-3246	310	16	)	)	PUNCT
fsr-3246	310	17	.	.	PUNCT
fsr-3246	311	1	essentials	essential	NOUN
fsr-3246	311	2	of	of	ADP
fsr-3246	311	3	investments	investment	NOUN
fsr-3246	311	4	,	,	PUNCT
fsr-3246	311	5	9th	9th	ADJ
fsr-3246	311	6	ed	ed	NOUN
fsr-3246	311	7	.	.	PUNCT
fsr-3246	312	1	(	(	PUNCT
fsr-3246	312	2	pp	pp	ADJ
fsr-3246	312	3	.	.	PUNCT
fsr-3246	313	1	532–537	532–537	NUM
fsr-3246	313	2	)	)	PUNCT
fsr-3246	313	3	.	.	PUNCT
fsr-3246	314	1	new	new	PROPN
fsr-3246	314	2	york	york	PROPN
fsr-3246	314	3	,	,	PUNCT
fsr-3246	314	4	ny	ny	PROPN
fsr-3246	314	5	:	:	PUNCT
fsr-3246	314	6	mcgraw	mcgraw	PROPN
fsr-3246	314	7	-	-	PUNCT
fsr-3246	314	8	hill	hill	PROPN
fsr-3246	314	9	/	/	SYM
fsr-3246	314	10	irwin	irwin	PROPN
fsr-3246	314	11	.	.	PUNCT
fsr-3246	315	1	carver	carver	PROPN
fsr-3246	315	2	,	,	PUNCT
fsr-3246	315	3	a.	a.	PROPN
fsr-3246	315	4	b.	b.	PROPN
fsr-3246	315	5	(	(	PUNCT
fsr-3246	315	6	2013	2013	NUM
fsr-3246	315	7	)	)	PUNCT
fsr-3246	315	8	.	.	PUNCT
fsr-3246	316	1	the	the	DET
fsr-3246	316	2	equity	equity	NOUN
fsr-3246	316	3	indexed	index	VERB
fsr-3246	316	4	annuity	annuity	NOUN
fsr-3246	316	5	:	:	PUNCT
fsr-3246	316	6	a	a	DET
fsr-3246	316	7	monte	monte	PROPN
fsr-3246	316	8	carlo	carlo	PROPN
fsr-3246	316	9	forensic	forensic	ADJ
fsr-3246	316	10	investigation	investigation	NOUN
fsr-3246	316	11	into	into	ADP
fsr-3246	316	12	a	a	DET
fsr-3246	316	13	controversial	controversial	ADJ
fsr-3246	316	14	financial	financial	ADJ
fsr-3246	316	15	product	product	NOUN
fsr-3246	316	16	.	.	PUNCT
fsr-3246	317	1	decision	decision	NOUN
fsr-3246	317	2	sciences	sciences	PROPN
fsr-3246	317	3	journal	journal	NOUN
fsr-3246	317	4	of	of	ADP
fsr-3246	317	5	innovative	innovative	ADJ
fsr-3246	317	6	education	education	NOUN
fsr-3246	317	7	,	,	PUNCT
fsr-3246	317	8	11	11	NUM
fsr-3246	317	9	,	,	PUNCT
fsr-3246	317	10	23–28	23–28	NUM
fsr-3246	317	11	.	.	PUNCT
fsr-3246	318	1	collins	collins	PROPN
fsr-3246	318	2	,	,	PUNCT
fsr-3246	318	3	p.	p.	PROPN
fsr-3246	318	4	j.	j.	PROPN
fsr-3246	318	5	,	,	PUNCT
fsr-3246	318	6	lam	lam	PROPN
fsr-3246	318	7	,	,	PUNCT
fsr-3246	318	8	h.	h.	PROPN
fsr-3246	318	9	,	,	PUNCT
fsr-3246	318	10	&	&	CCONJ
fsr-3246	318	11	stampfli	stampfli	PROPN
fsr-3246	318	12	,	,	PUNCT
fsr-3246	318	13	j.	j.	PROPN
fsr-3246	318	14	(	(	PUNCT
fsr-3246	318	15	2009	2009	NUM
fsr-3246	318	16	)	)	PUNCT
fsr-3246	318	17	.	.	PUNCT
fsr-3246	319	1	equity	equity	NOUN
fsr-3246	319	2	indexed	index	VERB
fsr-3246	319	3	annuities	annuity	NOUN
fsr-3246	319	4	:	:	PUNCT
fsr-3246	319	5	downside	downside	ADJ
fsr-3246	319	6	protection	protection	NOUN
fsr-3246	319	7	,	,	PUNCT
fsr-3246	319	8	but	but	CCONJ
fsr-3246	319	9	at	at	ADP
fsr-3246	319	10	what	what	DET
fsr-3246	319	11	cost	cost	NOUN
fsr-3246	319	12	?	?	PUNCT
fsr-3246	320	1	journal	journal	NOUN
fsr-3246	320	2	of	of	ADP
fsr-3246	320	3	financial	financial	ADJ
fsr-3246	320	4	planning	planning	NOUN
fsr-3246	320	5	,	,	PUNCT
fsr-3246	320	6	22	22	NUM
fsr-3246	320	7	,	,	PUNCT
fsr-3246	320	8	48–57	48–57	NUM
fsr-3246	320	9	.	.	PUNCT
fsr-3246	321	1	edwards	edwards	PROPN
fsr-3246	321	2	,	,	PUNCT
fsr-3246	321	3	m.	m.	PROPN
fsr-3246	321	4	&	&	CCONJ
fsr-3246	321	5	swidler	swidler	PROPN
fsr-3246	321	6	,	,	PUNCT
fsr-3246	321	7	s.	s.	PROPN
fsr-3246	321	8	(	(	PUNCT
fsr-3246	321	9	2005	2005	NUM
fsr-3246	321	10	)	)	PUNCT
fsr-3246	321	11	.	.	PUNCT
fsr-3246	322	1	do	do	AUX
fsr-3246	322	2	equity	equity	NOUN
fsr-3246	322	3	-	-	PUNCT
fsr-3246	322	4	linked	link	VERB
fsr-3246	322	5	certificates	certificate	NOUN
fsr-3246	322	6	of	of	ADP
fsr-3246	322	7	deposit	deposit	NOUN
fsr-3246	322	8	have	have	VERB
fsr-3246	322	9	equity	equity	NOUN
fsr-3246	322	10	-	-	PUNCT
fsr-3246	322	11	like	like	ADJ
fsr-3246	322	12	returns	return	NOUN
fsr-3246	322	13	?	?	PUNCT
fsr-3246	323	1	financial	financial	ADJ
fsr-3246	323	2	services	service	NOUN
fsr-3246	323	3	review	review	NOUN
fsr-3246	323	4	,	,	PUNCT
fsr-3246	323	5	14	14	NUM
fsr-3246	323	6	,	,	PUNCT
fsr-3246	323	7	305–318	305–318	NUM
fsr-3246	323	8	.	.	PUNCT
fsr-3246	324	1	mccann	mccann	PROPN
fsr-3246	324	2	,	,	PUNCT
fsr-3246	324	3	c.	c.	PROPN
fsr-3246	324	4	(	(	PUNCT
fsr-3246	324	5	2008	2008	NUM
fsr-3246	324	6	)	)	PUNCT
fsr-3246	324	7	.	.	PUNCT
fsr-3246	325	1	an	an	DET
fsr-3246	325	2	economic	economic	ADJ
fsr-3246	325	3	analysis	analysis	NOUN
fsr-3246	325	4	of	of	ADP
fsr-3246	325	5	equity	equity	NOUN
fsr-3246	325	6	-	-	PUNCT
fsr-3246	325	7	indexed	index	VERB
fsr-3246	325	8	annuities	annuity	NOUN
fsr-3246	325	9	.	.	PUNCT
fsr-3246	326	1	working	work	VERB
fsr-3246	326	2	paper	paper	NOUN
fsr-3246	326	3	submitted	submit	VERB
fsr-3246	326	4	to	to	ADP
fsr-3246	326	5	north	north	NOUN
fsr-3246	326	6	american	american	ADJ
fsr-3246	326	7	securities	securities	PROPN
fsr-3246	326	8	administrators	administrators	PROPN
fsr-3246	326	9	association	association	PROPN
fsr-3246	326	10	,	,	PUNCT
fsr-3246	326	11	september	september	PROPN
fsr-3246	326	12	10	10	NUM
fsr-3246	326	13	.	.	PUNCT
fsr-3246	327	1	mccann	mccann	PROPN
fsr-3246	327	2	,	,	PUNCT
fsr-3246	327	3	c.	c.	PROPN
fsr-3246	327	4	&	&	CCONJ
fsr-3246	327	5	luo	luo	PROPN
fsr-3246	327	6	,	,	PUNCT
fsr-3246	327	7	d.	d.	PROPN
fsr-3246	327	8	(	(	PUNCT
fsr-3246	327	9	2006	2006	NUM
fsr-3246	327	10	)	)	PUNCT
fsr-3246	327	11	.	.	PUNCT
fsr-3246	328	1	an	an	DET
fsr-3246	328	2	overview	overview	NOUN
fsr-3246	328	3	of	of	ADP
fsr-3246	328	4	equity	equity	NOUN
fsr-3246	328	5	-	-	PUNCT
fsr-3246	328	6	indexed	index	VERB
fsr-3246	328	7	annuities	annuity	NOUN
fsr-3246	328	8	.	.	PUNCT
fsr-3246	329	1	working	work	VERB
fsr-3246	329	2	paper	paper	NOUN
fsr-3246	329	3	,	,	PUNCT
fsr-3246	329	4	securities	security	NOUN
fsr-3246	329	5	litigation	litigation	NOUN
fsr-3246	329	6	and	and	CCONJ
fsr-3246	329	7	consulting	consulting	NOUN
fsr-3246	329	8	group	group	NOUN
fsr-3246	329	9	.	.	PUNCT
fsr-3246	330	1	huebscher	huebscher	PROPN
fsr-3246	330	2	,	,	PUNCT
fsr-3246	330	3	r.	r.	PROPN
fsr-3246	330	4	(	(	PUNCT
fsr-3246	330	5	2011	2011	NUM
fsr-3246	330	6	)	)	PUNCT
fsr-3246	330	7	.	.	PUNCT
fsr-3246	331	1	fantasy	fantasy	NOUN
fsr-3246	331	2	-	-	PUNCT
fsr-3246	331	3	world	world	NOUN
fsr-3246	331	4	returns	return	NOUN
fsr-3246	331	5	for	for	ADP
fsr-3246	331	6	equity	equity	NOUN
fsr-3246	331	7	indexed	index	VERB
fsr-3246	331	8	annuities	annuity	NOUN
fsr-3246	331	9	.	.	PUNCT
fsr-3246	332	1	advisor	advisor	NOUN
fsr-3246	332	2	perspectives	perspective	NOUN
fsr-3246	332	3	newsletter	newsletter	NOUN
fsr-3246	332	4	,	,	PUNCT
fsr-3246	332	5	cfa	cfa	PROPN
fsr-3246	332	6	institute	institute	PROPN
fsr-3246	332	7	,	,	PUNCT
fsr-3246	332	8	may	may	AUX
fsr-3246	332	9	31	31	NUM
fsr-3246	332	10	.	.	PUNCT
fsr-3246	333	1	ibbotson	ibbotson	PROPN
fsr-3246	333	2	associates	associates	PROPN
fsr-3246	333	3	.	.	PUNCT
fsr-3246	334	1	(	(	PUNCT
fsr-3246	334	2	2013	2013	NUM
fsr-3246	334	3	)	)	PUNCT
fsr-3246	334	4	.	.	PUNCT
fsr-3246	335	1	ibbotson	ibbotson	PROPN
fsr-3246	335	2	stocks	stocks	PROPN
fsr-3246	335	3	,	,	PUNCT
fsr-3246	335	4	bonds	bond	NOUN
fsr-3246	335	5	,	,	PUNCT
fsr-3246	335	6	bills	bill	NOUN
fsr-3246	335	7	,	,	PUNCT
fsr-3246	335	8	and	and	CCONJ
fsr-3246	335	9	inflation	inflation	NOUN
fsr-3246	335	10	2013	2013	NUM
fsr-3246	335	11	valuation	valuation	NOUN
fsr-3246	335	12	yearbook	yearbook	NOUN
fsr-3246	335	13	.	.	PUNCT
fsr-3246	336	1	chicago	chicago	PROPN
fsr-3246	336	2	,	,	PUNCT
fsr-3246	336	3	il	il	PROPN
fsr-3246	336	4	:	:	PROPN
fsr-3246	336	5	morningstar	morningstar	PROPN
fsr-3246	336	6	inc	inc	PROPN
fsr-3246	336	7	.	.	PROPN
fsr-3246	336	8	insured	insure	VERB
fsr-3246	336	9	retirement	retirement	PROPN
fsr-3246	336	10	institute	institute	PROPN
fsr-3246	336	11	.	.	PUNCT
fsr-3246	337	1	(	(	PUNCT
fsr-3246	337	2	2014	2014	NUM
fsr-3246	337	3	)	)	PUNCT
fsr-3246	337	4	.	.	PUNCT
fsr-3246	338	1	iri	iri	PROPN
fsr-3246	338	2	2013	2013	NUM
fsr-3246	338	3	fact	fact	NOUN
fsr-3246	338	4	book	book	NOUN
fsr-3246	338	5	,	,	PUNCT
fsr-3246	338	6	12th	12th	NOUN
fsr-3246	338	7	ed	ed	NOUN
fsr-3246	338	8	.	.	PUNCT
fsr-3246	339	1	(	(	PUNCT
fsr-3246	339	2	p.	p.	NOUN
fsr-3246	339	3	163	163	NUM
fsr-3246	339	4	)	)	PUNCT
fsr-3246	339	5	.	.	PUNCT
fsr-3246	340	1	washington	washington	PROPN
fsr-3246	340	2	,	,	PUNCT
fsr-3246	340	3	dc	dc	PROPN
fsr-3246	340	4	:	:	PUNCT
fsr-3246	340	5	insured	insure	VERB
fsr-3246	340	6	retirement	retirement	PROPN
fsr-3246	340	7	institute	institute	PROPN
fsr-3246	340	8	.	.	PUNCT
fsr-3246	341	1	kuhlemeyer	kuhlemeyer	PROPN
fsr-3246	341	2	,	,	PUNCT
fsr-3246	341	3	g.	g.	PROPN
fsr-3246	341	4	(	(	PUNCT
fsr-3246	341	5	2000	2000	NUM
fsr-3246	341	6	)	)	PUNCT
fsr-3246	341	7	.	.	PUNCT
fsr-3246	342	1	the	the	DET
fsr-3246	342	2	equity	equity	NOUN
fsr-3246	342	3	index	index	NOUN
fsr-3246	342	4	annuity	annuity	NOUN
fsr-3246	342	5	:	:	PUNCT
fsr-3246	342	6	an	an	DET
fsr-3246	342	7	examination	examination	NOUN
fsr-3246	342	8	of	of	ADP
fsr-3246	342	9	performance	performance	NOUN
fsr-3246	342	10	and	and	CCONJ
fsr-3246	342	11	regulatory	regulatory	ADJ
fsr-3246	342	12	concerns	concern	NOUN
fsr-3246	342	13	.	.	PUNCT
fsr-3246	343	1	financial	financial	ADJ
fsr-3246	343	2	services	service	NOUN
fsr-3246	343	3	review	review	NOUN
fsr-3246	343	4	,	,	PUNCT
fsr-3246	343	5	9	9	NUM
fsr-3246	343	6	,	,	PUNCT
fsr-3246	343	7	327–342	327–342	NUM
fsr-3246	343	8	.	.	PUNCT
fsr-3246	344	1	reichenstein	reichenstein	PROPN
fsr-3246	344	2	,	,	PUNCT
fsr-3246	344	3	w.	w.	PROPN
fsr-3246	344	4	(	(	PUNCT
fsr-3246	344	5	2009	2009	NUM
fsr-3246	344	6	)	)	PUNCT
fsr-3246	344	7	.	.	PUNCT
fsr-3246	345	1	financial	financial	ADJ
fsr-3246	345	2	analysis	analysis	NOUN
fsr-3246	345	3	of	of	ADP
fsr-3246	345	4	equity	equity	NOUN
fsr-3246	345	5	-	-	PUNCT
fsr-3246	345	6	indexed	index	VERB
fsr-3246	345	7	annuities	annuity	NOUN
fsr-3246	345	8	.	.	PUNCT
fsr-3246	346	1	financial	financial	ADJ
fsr-3246	346	2	services	service	NOUN
fsr-3246	346	3	review	review	PROPN
fsr-3246	346	4	,	,	PUNCT
fsr-3246	346	5	18	18	NUM
fsr-3246	346	6	,	,	PUNCT
fsr-3246	346	7	291–311	291–311	NUM
fsr-3246	346	8	.	.	PUNCT
fsr-3246	347	1	reichenstein	reichenstein	PROPN
fsr-3246	347	2	,	,	PUNCT
fsr-3246	347	3	w.	w.	PROPN
fsr-3246	347	4	(	(	PUNCT
fsr-3246	347	5	2011	2011	NUM
fsr-3246	347	6	)	)	PUNCT
fsr-3246	347	7	.	.	PUNCT
fsr-3246	348	1	can	can	AUX
fsr-3246	348	2	annuities	annuity	NOUN
fsr-3246	348	3	offer	offer	VERB
fsr-3246	348	4	competitive	competitive	ADJ
fsr-3246	348	5	returns	return	NOUN
fsr-3246	348	6	?	?	PUNCT
fsr-3246	349	1	journal	journal	NOUN
fsr-3246	349	2	of	of	ADP
fsr-3246	349	3	financial	financial	ADJ
fsr-3246	349	4	planning	planning	NOUN
fsr-3246	349	5	,	,	PUNCT
fsr-3246	349	6	24	24	NUM
fsr-3246	349	7	,	,	PUNCT
fsr-3246	349	8	36–39	36–39	NUM
fsr-3246	349	9	.	.	PUNCT
fsr-3246	350	1	vanderpal	vanderpal	PROPN
fsr-3246	350	2	,	,	PUNCT
fsr-3246	350	3	g.	g.	PROPN
fsr-3246	350	4	,	,	PUNCT
fsr-3246	350	5	marrion	marrion	NOUN
fsr-3246	350	6	,	,	PUNCT
fsr-3246	350	7	j.	j.	PROPN
fsr-3246	350	8	,	,	PUNCT
fsr-3246	350	9	&	&	CCONJ
fsr-3246	350	10	babbel	babbel	PROPN
fsr-3246	350	11	,	,	PUNCT
fsr-3246	350	12	d.	d.	PROPN
fsr-3246	350	13	f.	f.	PROPN
fsr-3246	350	14	(	(	PUNCT
fsr-3246	350	15	2011	2011	NUM
fsr-3246	350	16	)	)	PUNCT
fsr-3246	350	17	.	.	PUNCT
fsr-3246	351	1	real	real	ADJ
fsr-3246	351	2	world	world	NOUN
fsr-3246	351	3	index	index	NOUN
fsr-3246	351	4	annuity	annuity	NOUN
fsr-3246	351	5	returns	return	NOUN
fsr-3246	351	6	.	.	PUNCT
fsr-3246	352	1	journal	journal	NOUN
fsr-3246	352	2	of	of	ADP
fsr-3246	352	3	financial	financial	ADJ
fsr-3246	352	4	planning	planning	NOUN
fsr-3246	352	5	,	,	PUNCT
fsr-3246	352	6	24	24	NUM
fsr-3246	352	7	,	,	PUNCT
fsr-3246	352	8	50–59	50–59	NUM
fsr-3246	352	9	.	.	PUNCT
fsr-3246	353	1	428	428	NUM
fsr-3246	353	2	a.	a.	NOUN
fsr-3246	353	3	terry	terry	PROPN
fsr-3246	353	4	,	,	PUNCT
fsr-3246	353	5	e.	e.	PROPN
fsr-3246	353	6	elder	elder	PROPN
fsr-3246	353	7	/	/	SYM
fsr-3246	353	8	financial	financial	ADJ
fsr-3246	353	9	services	service	NOUN
fsr-3246	353	10	review	review	VERB
fsr-3246	353	11	24	24	NUM
fsr-3246	353	12	(	(	PUNCT
fsr-3246	353	13	2015	2015	NUM
fsr-3246	353	14	)	)	PUNCT
fsr-3246	353	15	411–428	411–428	NUM