This paper examines the relation between fluctuations in the aggregate value of equities and the adequacy of households’ saving for retirement. We find that many and perhaps most households appear to be saving adequate amounts for retirement, but almost no link between stock values and the...

An important decision facing retirement savers is how to allocate their savings across different assets. The decision includes the choice of how to divide investments between domestic and foreign holdings. This study uses return data for 1927-2005 to determine whether cross-border investing in...

The authors explore whether equities could help solve the woes facing the U.S. retirement system in general, and the Social Security shortfall in particular.

Sass discusses the evolution of the U.S. Railroad Retirement System and whether its ability to invest its assets in private equities offers answers for the long-term fiscal health of Social Security.