The National Bureau of Economic Research shuttered its Retirement and Disability Research Center (RDRC) due to funding cuts at the Social Security Administration.
Why it matters: Founded in 2003, the RDRC produced policy-relevant research through a consortium of academic institutions that informed Social Security discussions in Washington and beyond.
Its work encompassed more than 400 research projects published by the University of Wisconsin-Madison, Boston College, the University of Maryland Baltimore County, the University of Michigan and Baruch College.
Yahoo News reported that only the Center for Retirement Research at Boston College remains open.
What they’re saying: “The work produced by researchers affiliated with the NBER was very impactful,” says Jeff Brown, a finance professor at the University of Illinois, who was involved with the center from its beginning and previously served as its director.
- “Most of the papers that were supported through this center were very rigorous, high quality and contributed to our understanding of the economic impact of all facets of our retirement and disability system in the U.S.—not just Social Security, but also 401(k)s, defined benefit plans and so much more,” Brown says.
- “The good news, however, is that the body of research that was created during the center’s existence will continue to inform policymakers for many years to come. This is especially important given the impending need to address Social Security’s financial shortfalls and the ongoing changes in the private retirement plan space.”
