in other financial assets. This paper investigates how this aspect of Social Security risk varies across groups of … individuals who differ according to gender; education; race; and age. The main finding is that there are important differences … across groups in this component of Social Security risk, as captured by the sensitivity of individual-level income growth to …

between funded and unfunded systems when there are sources of uninsurable risk that are allocated in different ways by …

funded and unfunded systems when there are sources of uninsurable risk that are allocated in different ways by different …

"This paper presents a dynamic model of a public pension fund's choice of portfolio risk. Optimal portfolio allocations … public pension fund management, we find evidence that funds chose greater overall asset - liability portfolio risk following …, pension plans take more risk when they have greater representation by plan participants on their Boards of Trustees …