Public pension plans have been shifting toward more complex investments in the past two decades, moving a sizable share of assets out of traditional equities, bonds, and cash into alternative assets, and expanding their reliance on external managers.  This increased complexity, coupled with a shift toward active management, contrasts sharply with other investors,…

This paper examines how differences in Supplemental Security Income (SSI) generosity, driven by differences in state SSI supplements, affect people’s interaction with the program.  This paper uses county-level administrative data on SSI recipiency rates, as well as county-level data on SSI application rates, SSI award rates, group specific employment rates, earnings, and migration rates to…

A common refrain among retirement researchers is that longer careers are the best way to ensure an adequate retirement.  This refrain is often directed at the workers themselves – “you need to work longer!” And that message seems to have been getting…