The Market Value of Accrued Social Security Benefits

John Geanakoplos, Stephen Zeldes

NBER Retirement Research Center Paper No. NB 07-18
Issued in December 2007

---- Acknowledgements -----

We thank Ryan Chahrour, Theodore Papageorgiou, and Sami Ragab for research assistance, and Mark Broadie, Deborah Lucas, Kent Smetters, and seminar participants at the Conference on Measuring and Managing Federal Financial Risk (Kellogg School) and at Columbia University for helpful comments and suggestions. This research was supported by the U.S. Social Security Administration through grant #10-P-98363-1-04 to the National Bureau of Economic Research as part of the SSA Retirement Research Consortium. The findings and conclusions expressed are solely those of the author(s) and do not represent the views of SSA, any agency of the Federal Government, or the NBER. This draft summarizes the work thus far on a longer term project. We describe what we have accomplished to date and what remains to be done.

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