The National Reverse Mortgage Lenders Association has formed a strategic relationship with the Center for Retirement Research at Boston College. The Center directs research that spans the four main areas that affect a household’s retirement income: Social Security; employer-sponsored pension plans; household saving; and labor market trends among older workers. The relationship between the Center for Retirement Research and NRMLA aims to share resources and seek common ground.

“With the growth in the senior sector due to the maturity of the baby boomers, tied together with the dearth of retirement savings (more than 50% of the boomers have no savings and among those who do, the average retirement account is about $49,000), one of NRMLA’s primary focuses has to be the problem of funding longevity and the significant role that home equity, and thus, reverse mortgages can play,” said NRMLA.

NRMLA has made a financial contribution to the Center on behalf of its membership to help support the staff’s research. “They have shared some of the tools they are working on with us and we have shared Marttila Strategies’ Consumer Research that we commissioned with them,” NRMLA said.

Additionally, NRMLA President Peter Bell has had a series of meetings with the Center’s director, Alicia Munnell, and her staff to seek common ground, and together they have been exploring agenda ideas for a possible gathering of many of the best minds in the country to tackle the topic.

For more information, visit the Center for Retirement Research at Boston College.

Written by Elizabeth Ecker