The Institute of Consumer Money Management (ICMM) announces a $450,000 research grant to the Brookings Institution to support a multi-year study examining the economic burden faced by unpaid caregivers in the United States.
The grant supports research conducted through Brookings’ Economic Studies program as part of the Retirement Security Project, under the project titled “Measuring the Economic Burden on Unpaid Caregivers.” The research is scheduled to take place from February 2026 through December 31, 2028.
Unpaid caregivers play a critical role in supporting older adults, people with disabilities, and families, yet they often experience significant financial challenges, including reduced labor force participation, lower lifetime earnings, increased out-of-pocket expenses, and diminished retirement security. This research seeks to contribute rigorous empirical evidence to better understand and quantify these economic impacts.
“ICMM is committed to supporting independent, high-quality research that advances understanding of financial security challenges across the life course,” said Diane Chen, Founder and Executive Director of ICMM. “Unpaid caregiving is an essential but underexamined component of economic well-being, and we are pleased to support research that brings greater clarity to its financial implications.”
“The Retirement Security Project is dedicated to producing rigorous evidence and analysis that supports Americans in retirement while ensuring fiscal sustainability. Unpaid caregivers play a key role in the lives of many older Americans, and improving our understanding of the challenges they face is an important goal that we are excited to take on with support from ICMM.” Gopi Shah Goda, Senior Fellow & Director, Retirement Security Project, Alice M. Rivlin Chair in Economic Policy, Brookings Institution.
Consistent with Brookings’ principles of independence and nonpartisanship, Brookings Institution scholars retain full authority over the research design, analysis, and publication of findings. The conclusions and views expressed in the research will be those of the authors and do not necessarily reflect the views of ICMM.
Research outputs will be made publicly available in accordance with Brookings’ standards for objective and rigorous scholarship.
