Mark Miller: Remaking Retirement

Should Social Security Invest in Stocks?

Mark Miller

Pension funds do it. Insurance companies do it. Canada does it, and so does Japan. So, why doesn't our Social Security system invest in the stock market--and should it?

I'm not talking about transforming Social Security into a system of private, individual IRA-style investment accounts, as proposed by  former President George W. Bush and some conservative policy experts. The question here is whether Social Security should invest a portion of its reserve funds in equities to help the program's long-term solvency.