Social Security and the Stock Market: How the Pursuit of Market Magic Shapes the System

"Optimal social security design needs to look at the tradeoff between risk and return of retirement benefits. Munnell and Sass provide an excellent and lucid exposition of the issues which arise when seeking higher returns through riskier benefit designs. This is the book to turn to in order to review international experience so as to understand the pluses and minuses of equities." –J. Michael Orszag, Head of Research, Watson Wyatt LLP