Social security and the stock market: How the pursuit of market magic shapes the system

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

Volumn , Issue , 2006, Pages 1-171

  Munnell, Alicia H ^a   Sass, Steven A ^a  

^a BOSTON COLLEGE   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 84895643697     PISSN: None     EISSN: None     Source Type: Book    
DOI: None     Document Type: Book

References (159)

1. AARP. 2005. Reimagining America: AARP's Blueprint for the Future. Washington, DC: AARP. http://assets.aarp.org/www.aarp.org_/articles/legpolicy/blueprint200508.pdf (accessed March 9, 2006).
2. Achenbaum, W. Andrew. 1978. Old Age in the New Land: The American Experience since 1790. Baltimore: Johns Hopkins University Press.
3. Ackerloff, George. 1982. "Labor Contracts as Partial Gift Exchange." Quarterly Journal of Economics 97(2): 543-569.
4. Ambachtsheer, Keith. 1996. "Moving to a Fiduciary CPP Investment Policy: Two Possible Paths." Paper prepared for the federal-provincial Working Group on CPP Investment Policy.
5. Ambachtsheer, Keith. 2000. "Public Pension Fund Power in Canada: For Good... or For Evil?" Canada Investment Review 13(2): 12-17.
6. Andrews, Emily S. 1985. The Changing Profile of Pensions in America. Washington, DC: Employee Benefits Research Institute.
7. Arrow, Kenneth J., and Robert C. Lind. 1970. "Uncertainty and the Evaluation of Public Investment Decisions." American Economic Review 60(2): 364-378.
8. Australian Bureau of Statistics. 2004. "Retirement and Retirement Intentions, Australia." Cat. no. 6238.0. Available at http://www.abs.gov.au/Ausstats/abs@.nsf/lookupMF/3DC3297FAA3CB8ABCA2568A90013938A (accessed February 6, 2006).
9. Ball, Robert M. 1947. "Social Insurance and the Right to Assistance." The Social Service Review 21(3). Reprinted in Insuring the Essentials: Bob Ball on Social Security, Thomas N. Bethell, ed. 2000. The Century Foundation, pp. 33-51.
10. Bateman, Hazel, and John Piggott. 1997. "Private Pensions in OECD Countries: Australia." OECD Labour Market and Social Policy Occasional Paper no. 23. Paris: Organisation for Economic Co-operation and Development.
11. Bateman, Hazel, and John Piggott. 2001a. "Australia's Mandatory Retirement Saving Policy: A View from the New Millennium. Pension Reform Primer." Electronic Discussion Paper 4 (August). Sydney: Center for Applied Economic Research, University of New South Wales.
12. Bateman, Hazel, and John Piggott. 2001b. "The Australian Approach to Retirement Income Provision." Paper prepared for the International Seminar on Social Security Pensions, held in Tokyo, March 5-7.
13. Battle, Ken. 2003. Sustaining Public Pensions in Canada: A Tale of Two Reforms. Ottawa: Caledon Institute of Social Policy.
14. Béland, Daniel. Forthcoming. "The Politics of Social Learning: Finance, Institutions and Pension Reform in the United States and Canada." Governance: An International Journal of Policy, Administration and Institutions.
15. Béland, Daniel, and John Myles. 2005. "Stasis Amidst Change: Canadian Pension Reform in an Age of Retrenchment." In Ageing and Pension Reform Around the World, Giuliano Bonoli and Toshimitsu Shinkawa, eds. Cheltenham: Edward Elgar, pp. 252-273.
16. Biggs, Andrew. 2002. Testimony before the Senate Finance Committee Hearing on the Final Report Produced by The President's Commission to Strengthen Social Security. http://www.socialsecurity.org/pubs/testimony/ct-ab100302 .pdf (accessed March 9, 2006).
17. Blake, David. 2000. "Two Decades of Pension Reform in the UK: What Are the Implications for Occupational Pension Schemes?" Discussion paper PI-0004. London: Pensions Institute, Birkbeck College, University of London.
18. Blake, David. 2002. "The United Kingdom Pension System: Key Issues." Discussion paper PI-0107. London: Pensions Institute, Birkbeck College, University of London.
19. Blake, David, and John Board. 2000. "Measuring Value Added in the Pensions Industry." Geneva Papers on Risk and Insurance 25(4): 539-567.
20. Blake, David, and J. Michael Orszag. 1997. Towards a Universal Funded Second Pension. London: Pensions Institute, Birkbeck College, University of London.
21. Blake, David, and John Turner. 2005. Voluntary Carve Outs for Social Security Reform: Lessons from the United Kingdom. Washington, DC: AARP Public Policy Institute.
22. Bodie, Zvi. 2001. "Financial Engineering and Social Security Reform." In Risk Aspects of Investment-Based Social Security Reform, John Y. Campbell and Martin Feldstein, eds. Chicago: University of Chicago Press, pp. 193-227.
23. Bohn, Henning. 1997. "Social Security Reform and Financial Markets." In Social Security Reform: Links to Saving, Investment, and Growth, Steven A. Sass and Robert K. Triest, eds. Boston: Federal Reserve Bank of Boston, pp. 193-227.
24. Bovbjerg, Barbara D. 2003. "Private Pensions: Changing Funding Rules and Enhancing Incentives Can Improve Plan Funding." GAO-04-176T. Washington, DC: U.S. General Accounting Office. http://www.gao.gov/new .items/d04176t.pdf (accessed March 10, 2006).
25. Brown, Claire. 1994. American Standards of Living, 1918-1988. Cambridge, MA: Blackwell.
26. Buessing, Marric, and Mauricio Soto. 2006. "The State of Private Pensions: Current 5500 Data." Issue in Brief 52. Chestnut Hill, MA: Center for Retirement Research at Boston College.
27. Bureau of Labor Statistics. 2005. Labor Force Statistics from the Current Population Survey. http://www.bls.gov/cps/ (accessed August 24, 2006).
28. Burtless, Gary, and Joseph Quinn. 2002. "Is Working Longer the Answer for an Aging Workforce?" Issue in Brief 11. Chestnut Hill, MA: Center for Retirement Research at Boston College.
29. Canada Pension Plan (CPP). 1997. Securing the Canada Pension Plan: Agreement on Proposed Changes to the CPP. Ottawa: Canadian Department of Finance. http://www.fin.gc.ca/cpp/inedex.html (accessed March 9, 2006).
30. Canada Pension Plan Investment Board (CPPIB). 1997. Canada Pension Plan Investment Board Act. Ottawa: Canadian Department of Finance. http://lois .justice.gc.ca/en/C-8.3/ (accessed March 9, 2006).
31. Canada Pension Plan Investment Board (CPPIB). 2003. Annual Report of the Canada Pension Plan Investment Board. Toronto: CPPIB.
32. Canada Pension Plan Investment Board (CPPIB). 2005. Annual Report of the Canada Pension Plan Investment Board. Toronto: CPPIB.
33. Canadian Department of Justice. 2004. Air Canada Pension Plan Solvency Deficiency Funding Regulations. http://laws.justice.gc.ca/en/P-7.01/ SOR-2004-174/ (accessed May 18, 2005).
34. Centrelink. 2005. How Much Age Pension Do I Get? Manuka, Australia: Department of Human Services. http://www.centrelink.gov.au/internet/internet .nsf/payments/pay_how_agepens.htm (accessed March 9, 2006).
35. Chandler, A.D. 1977. The Visible Hand: The Managerial Revolution in American Business. Cambridge, MA: Harvard University Press.
36. Chandler, A.D. 1990. Scale and Scope: The Dynamics of Industrial Capitalism. Cambridge, MA: Harvard University Press.
37. Clark, Tom. 2001. "Recent Pensions Policy and the Pension Credit." IFS Briefing Note no. 17. London: Institute for Fiscal Studies.
38. Clark, Tom. 2002. "Reward for Saving and Alleviating Poverty? The Final Pension Credit Proposals." IFS Briefing Note no. 22. London: Institute for Fiscal Studies.
39. Clark, Tom, and Carl Emmerson. 2002. "The Tax and Benefit System and the Decision to Invest in a Stakeholder Pension." IFS Briefing Note no. 28. London: Institute for Fiscal Studies. http://www.ifs.org.uk/publications/briefnotes.shtml (accessed March 9, 2006).
40. Clark, Tom, and Carl Emmerson. 2003. "Privatising Provision and Attacking Poverty? The Direction of UK Pension Policy under New Labor." Journal of Pension Economics and Finance 2(1): 67-89.
41. Committee on Economic Security. 1935. "Report to the President of the Committee on Economic Security." Table 17. Washington, DC: Committee on Economic Security.
42. Commonwealth Treasury of Australia. 2001. "Towards Higher Retirement Incomes for Australians: A History of the Australian Retirement Income System since Federation." In Economic Roundup Centenary Edition 2001. Canberra, Australia: Commonwealth of Australia, pp. 65-92.
43. Commonwealth Treasury of Australia. 2002. "Inquiry into Superannuation and Standards of Living in Retirement-Submission by the Commonwealth Treasury." In Economic Roundup Winter 2002. Canberra, Australia: Commonwealth of Australia, pp. 1-44.
44. Congressional Budget Office. 2003. The Baby Boomers' Retirement Prospects: An Overview. Washington, DC: Congressional Budget Office.
45. Congressional Budget Office. 2004. Administrative Costs of Private Accounts in Social Security. Washington, DC: Congressional Budget Office.
46. Cooke, Murray. 2003. "The Canada Pension Plan Goes to Market." Canada Review of Social Policy 51(Spring/Summer): 126-131. http://www.yorku .ca/crsp/issue51/issue51-10.pdf (accessed March 9, 2006).
47. Costa, Dora. 1998. The Evolution of Retirement: An American Economic History, 1880-1990. Chicago: University of Chicago Press.
48. Coward, Laurence E. 1995. Private Pensions in OECD Countries: Canada. Paris: Organisation for Economic Co-operation and Development.
49. Davis, E. Phillip. 1997. "Private Pensions in OECD Countries-the United Kingdom." Labour Market and Social Policy Occasional Paper no. 21. Paris: Organisation of Economic Co-operation and Development.
50. Davis, E. Phillip. 2000. "Regulation of Private Pensions-A Case Study of the UK." Discussion Paper PI-0009. London: Pensions Institute, Birkbeck College, University of London.
51. Davis, E. Phillip. 2003. "Is There A Pension Crisis in the UK?" Draft keynote address for the Japan Pension Research Council meeting, held in Tokyo, September 18-19.
52. Daykin, Chris. 2001. "Contracting Out: A Partnership Between Public and Private Pensions." Pensions Management Institute News (July): 1-3.
53. DeWitt, Larry. 1999. "The History and Development of the Social Security Retirement Earnings Income Test." Special Study 7 by the SSA Historian's Office. Washington, DC: Social Security Administration.
54. Diamond, Peter. 1997. "Macroeconomic Aspects of Social Security Reform." Brookings Papers on Economic Activity (2): 1-66.
55. Diamond, Peter, and Peter Orszag. 2004. Social Security Reform: A Balanced Approach. Washington, DC: Brookings Institution.
56. Edey, Malcolm, and John Simon. 1996. "Australia's Retirement Income System: Implications for Saving and Capital Markets." NBER Working Paper no. 5799. Cambridge, MA: National Bureau of Economic Research.
57. Emmerson, Carl. 2002. "Pension Reform in the United Kingdom: Increasing the Role of Private Pensions?" Paper prepared for the Pension Security in the 21st Century conference, held at the University of Oxford, March 8.
58. Esping-Andersen, Gosta. 1990. Three Worlds of Welfare Capitalism. Princeton, NJ: Princeton University Press.
59. Federal Interagency Forum on Aging-Related Statistics. 2004. Older Americans 2004: Key Indicators of Well-Being. Washington, DC: U.S. Government Printing Office.
60. Federal, Provincial and Territorial Governments of Canada. 1996a. "An Information Paper for Consultations on the Canada Pension Plan." Ottawa: Canadian Department of Finance.
61. Federal, Provincial and Territorial Governments of Canada. 1996b. Report on the Canada Pension Plan Consultations. Ottawa: Canadian Department of Finance.
62. Fields, Gary S., and Olivia S. Mitchell. 1984. "The Effects of Social Security Reforms on Retirement Ages and Retirement Incomes." NBER Working Paper no. W1348. Cambridge, MA: National Bureau of Economic Research.
63. Fisher, Gordon. 1995. "Is There Such a Thing as an Absolute Poverty Line Over Time? Evidence from the United States, Britain, Canada, and Australia on the Income Elasticity of the Poverty Line." Poverty Measurement Working Paper. Washington, DC: U.S. Census Bureau. http://www.census .gov/hhes/poverty/povmeas/papers/elastap4.html#C10 (accessed March 9, 2006).
64. Friedberg, Leora, and Anthony Webb. 2005. "Retirement and the Evolution of Pension Structure." Journal of Human Resources 40(2): 281-308.
65. Geanakoplos, John, Olivia S. Mitchell, and Stephen Zeldes. 2002. "Private Accounts, Prefunding, and Equity Investment under Social Security." In Policies for an Aging Society, A. Altman and David Shactman, eds. Baltimore: Johns Hopkins University Press, pp. 266-292.
66. Glasson, William H. 1918. History of Military Pension Legislation of the United States. New York: Oxford University Press.
67. Graebner, William. 1980. A History of Retirement. New Haven, CT: Yale University Press.
68. Gustman, Alan, and Thomas Steinmeier. 1992. "The Stampede toward Defined Contribution Pension Plans: Fact or Fiction?" Industrial Relations 31(2): 361-369.
69. HM Revenue and Customs. 2004. REV BN 39: Simplification Of The Taxation Of Pensions. London. http://www.hmrc.gov.uk/budget2004/revbn39 .htm (accessed July 26, 2006).
70. Hannah, Leslie. 1986. Inventing Retirement: The Development of Occupational Pensions in Britain. Cambridge: Cambridge University Press.
71. Hustead, Edwin C. 1998. "Trends in Retirement Income Plan Administrative Expenses." In Living with Defined Contribution Pension: Remaking Responsibility for Retirement, Olivia S. Mitchell and Sylvester J. Screiber, eds. Philadelphia: University of Pennsylvania Press, pp. 166-177.
72. Ibbotson Associates. 2003. Stocks, Bonds, Bills, and Inflation 2003 Yearbook. Chicago: Ibbotson Associates.
73. Ippolito, Richard. 1995. "Toward Explaining the Growth of Defined Contribution Plans." Industrial Relations 34(1): 1-19.
74. Ippolito, Richard. 1998. Pension Plans and Employee Performance. Chicago: University of Chicago Press.
75. King, Anthony, Agnes Walker, and Ann Harding. 1999. "Social Security, Aging, and Income Distribution in Australia." Paper prepared for the International Conference on Family, Social Policy and Financial Strategy, held in Taipei, April 16-17.
76. Kotlikoff, Laurence J., and David A. Wise. 1987. "The Incentive Effects of Private Pension Plans." In Issues in Pension Economics, Zvi Bodie, John B. Shoven, and David A. Wise, eds. Chicago: University of Chicago Press, pp. 283-336.
77. Kotlikoff, Laurence J., and David A. Wise. 1989. "Employee Retirement and a Firm's Pension Plan." In The Economics of Aging, David A. Wise, ed. Chicago: University of Chicago Press, pp. 279-330.
78. Lazear, Edward P. 1979. "Why is There Mandatory Retirement?" Journal of Political Economy 87(6): 1261-1284.
79. Lazear, Edward P. 1985. "Incentive Effects of Pensions." In Pensions, Labor, and Individual Choice, David A. Wise, ed. Chicago: University of Chicago Press, pp. 253-282.
80. Le Pan, Nicholas. 2003. Testimony to the House of Commons Standing Committee on Transport, Regarding the Regulation and Supervision of Air Canada's Pension Plans. Ottawa: Office of the Superintendent of Financial Institutions. http://www.osfi-bsif.gc.ca/app/DocRepository/1/eng/issues/ac/2003-04-04_e.pdf (accessed March 9, 2006).
81. Liu, Lillian. 1999. "Retirement Income Security in the United Kingdom." Social Security Bulletin 62(1): 1-23.
82. MaCurdy, Thomas, and John Shoven. 2001. "Asset Allocation and Risk Allocation: Can Social Security Improve Its Future Solvency by Investing in Private Securities?" In Risk Aspects of Investment-Based Social Security Reform, John Campbell and Martin Feldstein, eds. Chicago: Chicago University Press, pp. 11-32.
83. Maddison, Angus. 1995. Monitoring the World Economy 1820-1992. Paris: Organisation for Economic Co-operation and Development.
84. Margo, Robert A. 1991. "The Labor Force Participation of Older Americans in 1900: Further Results." NBER Working Paper Series on Historical Factors in Long Run Growth no. 27. Cambridge, MA: National Bureau of Economic Research.
85. Massachusetts Commission on Old-Age Pensions. 1909. "Preliminary Report, Submitted to the Legislature in January." Boston: Massachusetts Commission on Old-Age Pensions.
86. Mehra, Rajnish, and Edward C. Prescott. 1985. "The Equity Premium: A Puzzle." Journal of Monetary Economics 15(2): 145-161.
87. Mendelson, Michael. 2005. Financing the Canada and Quebec Pension Plans. Washington, DC: AARP Public Policy Institute.
88. Milliman Consultants and Actuaries. 2005. Milliman 2005 Pension Study. n.p.
89. Mitchell, Daniel J., and Robert P. O'Quinn. 1997. "Australia's Privatized Retirement System: Lessons for the United States." Backgrounder no. 1149. Washington, DC: Heritage Foundation.
90. Moen, Jon. 1987. "Essays on the Labor Force and Labor Force Participation Rates: The United States from 1960 through 1950." PhD dissertation, University of Chicago.
91. Munnell, Alicia H. 1982. The Economics of Private Pensions. Washington, DC: Brookings Institution.
92. Munnell, Alicia H. 2003. "The Declining Role of Social Security." Just the Facts no. 6. Chestnut Hill, MA: Center for Retirement Research at Boston College.
93. Munnell, Alicia H. 2004. "Population Aging: It's Not Just The Baby Boom." Issue in Brief no.16. Chestnut Hill, MA: Center for Retirement Research at Boston College. http://www.bc.edu/centers/crr/issues/ib_16.pdf (accessed March 9, 2006).
94. Munnell, Alicia H., and Mauricio Soto. 2005a. "What Replacement Rates Do Households Actually Experience in Retirement?" Working paper no. 2005-10. Chestnut Hill, MA: Center for Retirement Research at Boston College.
95. Munnell, Alicia H., and Mauricio Soto. 2005b. "How Do Pensions Affect Replacement Rates?" Issue in Brief no. 37. Chestnut Hill, MA: Center for Retirement Research at Boston College.
96. Munnell, Alicia H., and Annika Sundén. 2001. "Investment Practices of State and Local Pension Plans." In Pensions in the Public Sector, Olivia S. Mitchell and Edwin C. Hustead, eds. Philadelphia: University of Pennsylvania Press, pp. 153-194.
97. Munnell, Alicia H., and Annika Sundén. 2004. Coming Up Short: The Challenge of 401(k) Plans. Washington, DC: Brookings Institution.
98. Munnell, Alicia H., Annika Sundén, and Elizabeth Lidstone. 2002. "How Important Are Private Pensions?" Issue in Brief no. 8. Chestnut Hill, MA: Center for Retirement Research at Boston College.
99. Munnell, Alicia H., Robert K. Triest, and Natalia A. Jivan. 2004. "How Do Pensions Affect Actual and Expected Retirement Ages?" Working paper no. 2004-27. Chestnut Hill, MA: Center for Retirement Research at Boston College.
100. Murthi, Mamta, J. Michael Orszag, and Peter G. Orszag. 1999. "The Charge Ratio on Individual Accounts: Lessons from the UK Experience." Birkbeck College Working paper no. 99-02. London: University of London.
101. Myles, John. 2000. "The Maturation of Canada's Retirement Income System: Income Levels, Income Inequality and Low Income among Older Persons." Canadian Journal on Aging 19(3): 287-316.
102. National Commission on Social Security Reform. 1983. Report of the National Commission on Social Security Reform. Washington, DC: Social Security Administration. http://www.ssa.gov/history/reports/gspan.html (accessed March 9, 2006).
103. Nobles, Richard. 2000. "Retirement Pensions in the United Kingdom." Report prepared for the XVI World Congress of Labour Law and Social Security, held in Jerusalem, September 3-7.
104. Office of the Chief Actuary. 2004. 21st Actuarial Report on the Canada Pension. Ottawa: Canadian Department of Finance. Organisation for Economic Co-operation and Development (OECD). 2003. Labour Market Statistics. Paris: Organisation for Economic Co-operation and Development.
105. Osberg, Lars. 2001. "Poverty Among Senior Citizens: A Canadian Success Story in International Perspective." LIS working paper no. 274. Differdange, Luxembourg: Luxembourg Income Study.
106. Palacios, Robert. 2002. "Managing Public Pension Reserves Part II: Lessons from Five OECD Initiatives." Social Protection Discussion Paper 0219. Washington, DC: World Bank.
107. Parker, Hermione, ed. 2002. Modest but Adequate: A Reasonable Living Standard for Households Aged 65-74 Years. London: Age Concern England. http://ww.york.ac.uk/res/fbu/documents/ageconcernmodad2002.pdf (accessed March 9, 2006).
108. Pelling, Margaret. 1991. "Old Age, Poverty and Disability in Norwich." In Life, Death and the Elderly, Margaret Pelling and Richard M. Smith, eds. London: Routledge, pp. 74-101.
109. Pensions Policy Institute (PPI). 2003. The Pensions Landscape. London: Pensions Policy Institute.
110. Pesando, James. 2001. "The Canada Pension Plan: Looking Back at the Recent Reforms." In The State of Economics in Canada: Festschrift in Honour of David Slater, Patrick Grady and Andrew Sharpe, eds. Ottawa: McGill-Queen's University Press, pp. 137-150.
111. Phipps, Shelley, and Lori Curtis. 2000. "Poverty and Child Well-Being in Canada and the United States: Does it Matter How We Measure Poverty?" Final report. Gatineau, Quebec, Canada: Human Resources Development Canada. http://www.hrsdc.gc.ca/en/cs/sp/sdc/pkrf/publications/research/2000-001273/2000-001273.pdf (accessed March 10, 2006).
112. Profit Sharing/401(k) Council of America. 2005. 48th Annual Survey of Profit Sharing and 401(k) Plans. Chicago: Profit Sharing/401(k) Council of America.
113. Raphael, Marios. 1964. Pensions and Public Servants: A Study of the Origins of the British System. Paris: Mouton.
114. Rein, Martin, and John Turner. 2001. "Public-Private Interactions: Mandatory Pensions in Australia, the Netherlands, and Switzerland." Review of Population and Social Policy 10: 107-153.
115. Ross, David P., Katherine J. Scott, and Peter J. Smith. 2000. The Canadian Fact Book on Poverty. Ottawa: Canadian Council on Social Development.
116. Samwick, Andrew. 1998. "New Evidence on Pensions, Social Security, and the Timing of Retirement." Journal of Public Economics 70(2): 207-236.
117. Sarney, Mark, and Amy M. Preneta. 2001-2002. "The Canada Pension Plan's Experience with Investing Its Portfolio in Equities." Social Security Bulletin 64(2): 46-56.
118. Sass, Steven. 1997. The Promise of Private Pensions. Cambridge, MA: Harvard University Press.
119. Sass, Steven. 2003. "Reforming the UK Retirement System: Privatization Plus a Safety Net." Issue in Brief no. 3. Chestnut Hill, MA: Center for Retirement Research at Boston College. http://www.bc.edu/centers/crr/gib_3.shtml (accessed April 10, 2006).
120. Seager, Henry R. 1910. Social Insurance: A Program of Social Reform. New York: Macmillan.
121. Skolnik, Alfred M. 1976. "Private Pensions Plans, 1950-74." Social Security Bulletin 39(6): 3-17.
122. Slater, David W. 1997a. The Pension Squeeze: The Impact of the March 1996 Federal Budget. Toronto: C.D. Howe Institute.
123. Slater, David W. 1997b. "Prudence and Performance: Managing the Proposed CPP Investment Board." Commentary 98. Toronto: C.D. Howe Institute.
124. Smetters, Kent. 1997. "Investing the Social Security Trust Fund in Equity: An Option Pricing Approach." Technical paper 1997-1. Washington, DC: Congressional Budget Office.
125. Social Investment Organization. 2002. "Talisman Signals It May Leave Sudan." Toronto: Social Investment Organization. http://www.socialinvestment. ca/News&Archives/news-601-Talisman.htm (accessed March 10, 2006).
126. Squirer, Lee Welling. 1912. Old Age Dependency in the United States: A Complete Survey of the Pension Method. New York: Macmillan.
127. Stock, James H., and David A. Wise. 1990a. "Pensions, the Option Value of Work, and Retirement." Econometrica 58(5): 1151-1180.
128. Stock, James H., and David A. Wise. 1990b. "The Pension Inducement to Retire: An Option Value 36 Analysis." In Issues in the Economics of Aging, David A. Wise, ed. Chicago: University of Chicago Press, pp. 205-224.
129. Thane, Pat. 2000. Old Age in English History: Past Experiences, Present Issues. Oxford: Oxford University Press.
130. UK Department for Work and Pensions (DWP). 1998. A New Contract for Welfare: Partnership in Pensions. London: Department of Social Security.
131. UK Department for Work and Pensions (DWP). 2000. The Changing Welfare State-Pensioner Incomes. London: Department of Social Security.
132. UK Department for Work and Pensions (DWP). 2002a. Simplicity, Security, and Choice: Working and Saving for Retirement. London: Department of Social Security.
133. UK Department for Work and Pensions (DWP). 2002b. The Pension Credit: Long-Term Projections. London: Department of Social Security. http://www.dwp.gov.uk/publications/dwp/2002/pencred/pencred.pdf (accessed August 23, 2006).
134. UK Department for Work and Pensions (DWP). 2003a. The Pension Credit: The Government's Proposal. London: Department of Social Security.
135. UK Department for Work and Pensions (DWP). 2003b. Second Tier Pension Provision 1978-79 to 2000-01. London: Department of Social Security.
136. UK Government Actuary. 2003. Government Actuary's Quinquennial Review of the National Insurance Fund as at April 2000. Norwich: Stationery Office.
137. UK Office for National Statistics. 2005. ONS Labour Force Survey. http://www.statistics.gov.uk/STATBASE/Source.asp?vlnk=358 (accessed August 23, 2006).
138. UK Pensions Commission. 2004. Pensions: Challenges and Choices: The First Report of the Pension Commission. Norwich: Stationery Office.
139. UK Pensions Commission. 2005. A New Pension Settlement for the Twenty-First Century: The Second Report of the Pensions Commission. Norwich: Stationery Office.
140. U.S. 1994-1996 Advisory Council on Social Security. 1997. Report of the 1994-1996 Advisory Council on Social Security. Washington, DC: Social Security Administration.
141. U.S. Census Bureau. 1960. Historical Statistics of the United States, Colonial Times to 1957. Washington, DC: Government Printing Office.
142. U.S. Department of Labor. 2004. Private Pension Plan Bulletin: Abstracts of 1999 Form 5500 Annual Reports. Washington, DC: Employee Benefits Security Administration.
143. U.S. Department of Labor. 2005. Private Pension Plan Bulletin: Abstracts of 2000 Form 5500 Annual Reports. Washington, DC: Employee Benefits Security Administration.
144. U.S. Office of Management and Budget. 2003. Budget of the United States: Fiscal Year 2003. Washington, DC: Budget System and Concepts.
145. U.S. Office of Management and Budget. 2005. Budget of the United States: Fiscal Year 2005. Washington, DC: Budget System and Concepts.
146. U.S. Social Security Administration. 2004. Performance and Accountability Report, Fiscal Year 2004. Washington, DC: U.S. Government Printing Office.
147. U.S. Social Security Administration. 2006. The 2006 Annual Report of the Board of Trustees of the Federal Old-Age and Survivors Insurance and the Disability Insurance Trust Funds. Washington, DC: U.S. Government Printing Office.
148. U.S. Social Security Board. 1937. "Social Security In America: The Factual Background of the Social Security Act as Summarized from Staff Reports to the Committee on Economic Security." Social Security Board Publication no. 20. Washington, DC: U.S. Government Printing Office.
149. Watson Wyatt Worldwide. 2003. "Pension Plan Solvency: Weathering the Storm." Special Memorandum. http://www.watsonwyatt.com/canada-english/pubs/specialmemoranda/showarticle.asp?ArticleID=11787&pdfURL=pdf/sm03-11.pdf&articledate=9/2/2003&Component=Memorandum (accessed May 18, 2005).
150. Watson Wyatt Worldwide. 2004. "Is There a Crisis? Survey of CFOs on Pension Plan Perspectives, Strategies and Reactions." Memorandum. http://www.watsonwyatt .com/canada-english/pubs/memoranda/showarticle.asp?ArticleID= 13204&articledate=6/28/2004&Component=Memorandum&pdfURL= (accessed March 10, 2006).
151. Watson Wyatt Worldwide. 2005a. "More Companies Froze, Terminated Pension Plans in 2004, Watson Wyatt Analysis Finds." News release. http://www.watsonwyatt. com/news/press.asp?ID=14793 (accessed March 10, 2006).
152. Watson Wyatt Worldwide. 2005b. "Canadian Companies Reviewing Their Pension Plan Strategies." News release. http://www.watsonwyatt.com/canada-english/news/press.asp?ID=13072 (accessed May 18, 2005).
153. Whiteford, Peter, and Kim Bond. 1999. "Income Support, Retirement Incomes, and the Living Standards of Older People: Trends and Comparisons." In Policy Implications of the Ageing of Australia's Population. Melbourne, Australia: Productivity Commission and the Melbourne Institute of Applied Economic and Social Research. http://www.pc.gov.au/research/confproc/ageing/index.html (accessed March 10, 2006).
154. Whiteford, Peter, and David Stanton. 2002. "Targeting, Adequacy and Incentives: Assessing the Australian System of Retirement Incomes." Paper prepared for the 9th International Research Seminar on Issues in Social Security, Seminar on Pension Reform, held in Sigtuna, Sweden, June 15-18.
155. Whitehouse, Edward. 1998. "Pension Reform in Britain." Social Protection Discussion paper 9810. Washington, DC: World Bank.
156. Whitehouse, Edward. 2000. "Administrative Charges for Funded Pensions: An International Comparison and Assessment." Social Protection Discussion Paper 0016. Washington, DC: World Bank.
157. Whiteside, Noel. 2002. "Constructing the Public-Private Divide: Historical Perspectives and the Politics of Pension Reform." Working paper WP102. Oxford: Oxford Institute of Ageing.
158. Yamada, Atsuhiro. 2002. "The Evolving Retirement Income Package: Trends in Adequacy and Equality in Nine OECD Countries." OECD Labour Market and Social Policy Occasional Paper no. 63. Paris: Organisation for Economic Co-operation and Development.
159. Yohalem, Martha R. 1977. "Employee Benefit Plans, 1975." Social Security Bulletin 40(11): 19-28.