Partners
Brookings Institution’s Retirement Security Project
Overview
ICMM has partnered with the Brookings Institution’s Retirement Security Project to evaluate how tax and benefit optimization strategies can help low- to moderate-income (LMI) older adults make better retirement decisions. This project explores practical tools and policy interventions to improve retirement timing, benefit claiming, and long-term financial outcomes.
Project Status
Ongoing (2025) — Early-stage research with ongoing exploration of partnerships and tool evaluation. This 6-month project is expected to finish by Dec 2025.
ICMM’s Role
ICMM funds the research and evaluation phases, ensuring a focus on equity, practical solutions, and policy relevance for LMI populations.
Goals / Objectives
- Assess how existing retirement claiming tools can be adapted for LMI populations.
- Evaluate behavioral, financial, and policy barriers that affect retirement decisions.
- Provide actionable solutions that maximize retirement security for vulnerable populations.
- Share findings with policymakers and practitioners to inform retirement policy.
Methods
The project combines policy analysis, behavioral research, and applied tool testing. Brookings researchers evaluate current calculators and interventions, identify gaps for LMI households, and explore scalable methods for improving decision-making at retirement.
Expected Impact
- Improved guidance for older adults navigating Social Security and retirement decisions.
- Evidence for policy adjustments that reduce inequities in retirement security.
Greater understanding of how behavioral barriers impact claiming strategies among LMI groups.
