No Result
View All Result
SUBMIT YOUR ARTICLES
  • Login
Thursday, December 25, 2025
TheAdviserMagazine.com
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal
No Result
View All Result
TheAdviserMagazine.com
No Result
View All Result
Home Financial Planning

SSA funding cuts force retirement research centers to close

by TheAdviserMagazine
5 months ago
in Financial Planning
Reading Time: 4 mins read
A A
SSA funding cuts force retirement research centers to close
Share on FacebookShare on TwitterShare on LInkedIn



Research on aging, retirement and Social Security is vanishing as more Social Security Administration-funded research centers shut down following recent funding cuts.

Last week, the National Bureau of Economic Research announced that its Retirement and Disability Research Center would be closing due to cuts to research funding provided by the SSA. The center was part of a six-member consortium that received funding from the administration to support research on retirement, disability and Social Security.

READ MORE: Gray divorce can derail retirement; here’s how advisors can help

READ MORE: No more Medicare? Pessimistic clients look for advice

READ MORE: How to fix Social Security’s pending shortfall, according to advisors

In February, the SSA announced plans to terminate roughly $15 million in funding for the Retirement and Disability Research Consortium.

“Terminating our RDRC cooperative agreements aligns with President Trump’s priorities to end fraudulent and wasteful initiatives and contracts,” said Lee Dudek, who was serving as Social Security’s acting commissioner at the time. “We will continue to root out waste and abuse to earn back America’s trust and confidence in our agency.”

The RDRC was established by the agency in 2018, with current funding agreements planned to last until the 2028 fiscal year.

Along with the National Bureau of Economic Research, retirement research centers at the City University of New York (CUNY) Baruch College and the University of Maryland, Baltimore County have also closed in recent months due to the elimination of federal funding.

The Retirement and Disability Research Center at the University of Wisconsin-Madison is also in the process of shutting down, with plans to officially close around Aug. 1, according to J. Michael Collins, faculty director at the UW-Madison Retirement and Disability Research Center.

The University of Michigan’s Retirement and Disability Research Center also appears to have shut down, with no new research posted to its website and its social media accounts either deleted or dormant. The university did not respond to a request for confirmation.

Out of the six consortium members, only the Center for Retirement Research at Boston College remains open. Private funding has allowed the center to continue its core research efforts, but training and grants have been eliminated due to the termination of federal funding, according to Andrew Eschtruth, director of the Center for Retirement Research at Boston College.

An information-scarce future

Researchers say these closures are likely to have long-term consequences for public policy decision-making.

Teresa Ghilarducci, a labor economist at The New School and a former co-director of the New York Retirement & Disability Research Center, said that the SSA’s funding cuts mark a shift away from the evidence-based policy making that has defined the government’s approach for more than 100 years.

“That’s the way retirement and Social Security programs have really operated, like the congressional leaders that move Social Security forward, and even presidents, really, rely on the facts on the ground to figure out the trade-offs they’re making,” Ghilarducci said.

Eschtruth shared a similar perspective.

“It’s part of a broader change in direction by the federal government to reduce public support of research, which could reduce the information available to help public policy decision-making in a variety of areas,” he said.

No return on spent money

Across all six research centers, faculty say that the abrupt elimination of federal funding led to dozens of training programs and research efforts being cut short with nothing to show for the money already spent.

At Boston College, training and education programs were pulled back, and research grants to junior faculty and Ph.D. candidates were eliminated due to funding cuts. Ten ongoing research projects funded through these grants were left incomplete, Eschtruth said.

One project explored a potential cost-saving strategy for the Social Security Administration: using local volunteers to assist beneficiaries — a model that has shown success in Medicare. Another project was researching the impact of Social Security caregiver credits, particularly for people who stay home to take care of young children, on labor force participation.

At the University of Wisconsin-Madison, two large training programs and 19 research projects were eliminated due to the funding cuts. Several projects focused on ABLE accounts, which are tax-advantaged savings and investment accounts for individuals with disabilities. These accounts allow eligible users to save money without affecting their access to public benefits such as Medicaid, SSI or SSDI.

“We understand that funding priorities change, but there’s a way to do this that would allow us to at least complete the projects that were started,” Collins said. “And it actually wouldn’t have cost any more money because we still had startup costs that were already charged, right? So we could have actually produced 19 different research papers this year.”

Prior to the funding termination in February, Ghilarducci said that she and other researchers were told to stop all DEI-related research grants. For the New York Retirement & Disability Research Center, that meant stopping one LGBTQ-focused research project. 

“And then we actually looked at all of our websites and the language that we use to describe the grant, and we changed that language to meet the new administration’s [requirements],” Ghilarducci said. “And it wasn’t hard. I mean, we did cut out all the DEI research, but all the other research just had to do with long-term care, insurance, disabled workers, disability benefits, kind of quotidian things that you know, that affect everybody.”

Researchers say the Social Security Administration’s outright termination of research funding in February went beyond efforts to eliminate DEI research.

“We just felt like that wasn’t a fair assessment of what the work was, and certainly they could look project by project and say, ‘This project’s not a priority, that project’s not a priority,’ but to just terminate everything across all six centers all at once and not allow any researchers to move forward, I think it was a wasted opportunity,” Collins said.



Source link

Tags: centersclosecutsforceFundingResearchretirementSSA
ShareTweetShare
Previous Post

Most metrics at TFI are down from 2Q 2024 but Bedard touts higher margin

Next Post

BofA Private Bank exec foresees big NY market opportunities

Related Posts

edit post
RIAs and wirehouses eye regulatory changes in 2026

RIAs and wirehouses eye regulatory changes in 2026

by TheAdviserMagazine
December 24, 2025
0

2025 was nothing if not eventful, and financial advisors say they're expecting more of the same in 2026. With potential...

edit post
JPMorgan sues another ex-private client advisor

JPMorgan sues another ex-private client advisor

by TheAdviserMagazine
December 24, 2025
0

An industry lawyer is questioning JPMorgan's decision to file a lawsuit during the holiday week against a former private client...

edit post
Know Your Niche: advising Procter & Gamble employees

Know Your Niche: advising Procter & Gamble employees

by TheAdviserMagazine
December 24, 2025
0

For a while, the biggest professional problem Brad Morgan faced was figuring out how to get toothpaste into a tube. Processing...

edit post
Take FP’s December 2025 CE quiz for financial advisors

Take FP’s December 2025 CE quiz for financial advisors

by TheAdviserMagazine
December 24, 2025
0

Enjoy complimentary access to top ideas and insights — selected by our editors.Want unlimited access to top ideas and insights?...

edit post
FREE 2-Hour Cleaning Checklist!

FREE 2-Hour Cleaning Checklist!

by TheAdviserMagazine
December 23, 2025
0

Overwhelmed by the state of your house and need to get it whipped into shape quickly before Christmas? Grab my...

edit post
BalanceFrom Kettlebell Exercise Fitness Weight Set only .98, plus more!

BalanceFrom Kettlebell Exercise Fitness Weight Set only $18.98, plus more!

by TheAdviserMagazine
December 23, 2025
0

Grab this BalanceFrom Wide Grip Kettlebell Exercise Fitness Weight Set for a great price! Walmart has these BalanceFrom Wide Grip...

Next Post
edit post
BofA Private Bank exec foresees big NY market opportunities

BofA Private Bank exec foresees big NY market opportunities

edit post
Crypto On Deck? Interactive Brokers Explores Stablecoin Launch

Crypto On Deck? Interactive Brokers Explores Stablecoin Launch

  • Trending
  • Comments
  • Latest
edit post
How Long is a Last Will and Testament Valid in North Carolina?

How Long is a Last Will and Testament Valid in North Carolina?

December 8, 2025
edit post
In an Ohio Suburb, Sprawl Is Being Transformed Into Walkable Neighborhoods

In an Ohio Suburb, Sprawl Is Being Transformed Into Walkable Neighborhoods

December 14, 2025
edit post
Democrats Insist On Taxing Tips        

Democrats Insist On Taxing Tips        

December 15, 2025
edit post
Detroit Seniors Are Facing Earlier Shutoff Notices This Season

Detroit Seniors Are Facing Earlier Shutoff Notices This Season

December 20, 2025
edit post
Elon Musk adds to his 9 billion fortune after Delaware court awards him  billion pay package

Elon Musk adds to his $679 billion fortune after Delaware court awards him $55 billion pay package

December 20, 2025
edit post
Living Trusts in NC Explained: What You Should Know

Living Trusts in NC Explained: What You Should Know

December 16, 2025
edit post
Mortgage Rates Today, Tuesday, December 23: A Little Higher

Mortgage Rates Today, Tuesday, December 23: A Little Higher

0
edit post
Anti-Israel Colombia integrates IAI’s Barak air defense system

Anti-Israel Colombia integrates IAI’s Barak air defense system

0
edit post
12 Real-Life Lessons From Retirees With Inspiring Journeys

12 Real-Life Lessons From Retirees With Inspiring Journeys

0
edit post
Morgan Stanley Downgrades Enterprise Products (EPD) as Growth Story Fades

Morgan Stanley Downgrades Enterprise Products (EPD) as Growth Story Fades

0
edit post
9 things lower middle class people still do at restaurants that wealthy families would never understand

9 things lower middle class people still do at restaurants that wealthy families would never understand

0
edit post
Take FP’s December 2025 CE quiz for financial advisors

Take FP’s December 2025 CE quiz for financial advisors

0
edit post
Anti-Israel Colombia integrates IAI’s Barak air defense system

Anti-Israel Colombia integrates IAI’s Barak air defense system

December 25, 2025
edit post
UN turns 80 in 2025 amid global crises, India says ready for greater role

UN turns 80 in 2025 amid global crises, India says ready for greater role

December 25, 2025
edit post
Merry Christmas! | Armstrong Economics

Merry Christmas! | Armstrong Economics

December 25, 2025
edit post
9 things lower middle class people still do at restaurants that wealthy families would never understand

9 things lower middle class people still do at restaurants that wealthy families would never understand

December 24, 2025
edit post
Robert Kiyosaki Warns  Silver Signals Hyperinflation, Predicts 0 Price by 2026

Robert Kiyosaki Warns $70 Silver Signals Hyperinflation, Predicts $200 Price by 2026

December 24, 2025
edit post
Pros and Cons of REITs – Should I Invest?

Pros and Cons of REITs – Should I Invest?

December 24, 2025
The Adviser Magazine

The first and only national digital and print magazine that connects individuals, families, and businesses to Fee-Only financial advisers, accountants, attorneys and college guidance counselors.

CATEGORIES

  • 401k Plans
  • Business
  • College
  • Cryptocurrency
  • Economy
  • Estate Plans
  • Financial Planning
  • Investing
  • IRS & Taxes
  • Legal
  • Market Analysis
  • Markets
  • Medicare
  • Money
  • Personal Finance
  • Social Security
  • Startups
  • Stock Market
  • Trading

LATEST UPDATES

  • Anti-Israel Colombia integrates IAI’s Barak air defense system
  • UN turns 80 in 2025 amid global crises, India says ready for greater role
  • Merry Christmas! | Armstrong Economics
  • Our Great Privacy Policy
  • Terms of Use, Legal Notices & Disclosures
  • Contact us
  • About Us

© Copyright 2024 All Rights Reserved
See articles for original source and related links to external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal

© Copyright 2024 All Rights Reserved
See articles for original source and related links to external sites.