The last issue of the fifth volume of the JPEF features 4 research articles, an issues & policy paper and a book review section. The first paper in the issue looks at how unemployment affects retirement savings for those with DC plans. Jason Seligman and Jeffrey Wenger of the University of Georgia find that unemployment magnifies pension losses because unemployment occurs at the same time as equity markets decline so that workers systematically lose not just from unemployment but also from declines in the stock market. Because unemployed workers do not have funds to invest when the stock market is relatively low, they stand to lose from subsequent increases in equity markets. The authors look at who is affected most and find that nearly ten percent workers will lose between 8 and 13% of their retirement savings due to unemployment. The results overall indicate the importance of incorporating human capital factors such as unemployment spells and changes in the wage distribution into retirement planning models.