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>  News Releases >   2009 >   October

Dartmouth economics professor to direct new Financial Literacy Center

Dartmouth College Office of Public Affairs • Press Release
Posted 10/20/09 • Media Contact: Latarsha Gatlin (603) 646-3661

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Annamaria Lusardi
Annamaria Lusardi (photo by Joseph Mehling '69)

A new center dedicated to improving the financial literacy of the American public has been launched through a partnership between the RAND Corporation, Dartmouth and the Wharton School of the University of Pennsylvania.

The Financial Literacy Center will be hosted by RAND and led by Director Annamaria Lusardi, the Joel Z. and Susan Hyatt Professor of Economics at Dartmouth and a Research Associate at the National Bureau of Economic Research.

The Financial Literacy Center will receive more than $3 million in its first year from the U. S. Social Security Administration to develop educational materials and programs that help foster saving and retirement strategies over the life cycle.

As requested by the Social Security Administration, projects in the first year will tailor materials for Americans at various stages of their working lives -- young workers, mid-career workers and those approaching retirement -- as well as current retirees who must manage the resources they have accumulated. The work also will focus on underserved populations who are particularly vulnerable during periods of financial turbulence.

“Americans are assuming increasing responsibility for decisions that will determine whether they have enough money to support themselves in old age,” Lusardi said. “Unfortunately, they often lack the information and skills to make good decisions.” The Financial Literacy Center will empower different population groups by developing and testing innovative financial educational products that address their needs.

Besides researchers from Dartmouth, RAND, and the Wharton School, the Financial Literacy Center team includes experts in multiple disciplines from the American Enterprise Institute, Cornell University, Doorways to Dreams Fund, FINRA Investor Education Foundation, Greenwald and Associates, Harvard University, Harvard Business School, ideas42, the National Endowment for Financial Education, the National Bureau of Economic Research and North Carolina State University, along with a range of corporate and nonprofit collaborators.

Dartmouth has television (satellite uplink) and radio (ISDN) studios available for domestic and international live and taped interviews. For more information, call 603-646-3661 or see our Radio, Television capability webpage.

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Last Updated: 1/5/10