College News

UW-Madison furthers research legacy through investigation of financially vulnerable families

The Center for Financial Security received funds to support their research in financially vulnerable individuals Thursday.

Image By: Cameron Lane-Flehinger

To continue UW-Madison’s long history in research, the Center for Financial Security will participate within a five-year agreement to study the fiscal well-being of those who are most financially vulnerable.

The agreement will take a look at financially vulnerable families, the elderly, people with disabilities, low-income households and children in cooperation with the Social Security Administration’s Retirement and Disability Research Consortium.

“These projects will provide important information on key questions that we face as a society with a growing number of aging citizens and will help guide state and federal policy,” said Chancellor Rebecca Blank.

Throughout the first year, the Social Security Administration funded 10 research projects as well as providing training and mentoring services for scholars and researchers to delve into research disciplines and demographic composition.

“This applied research program will develop stronger evidence that can assist policymakers, the public and the media in understanding issues related to Social Security, retirement and disability policy,” said CFS Director and associate professor J. Michael Collins.

Since 2008, the CFS has developed applied research to aid in the advancement of financial security for economically vulnerable people.

CFS and Howard University’s Center on Race and Wealth will recruit trainees from underrepresented racial and ethnic populations to learn about social policy research, data methods and techniques as well as how to communicate those results to legislators and the public.

“These efforts are critical given the widening gap in wealth inequality and provide the kind of evidence that policymakers, practitioners and consumers need to support greater financial security,” Collins said.

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