The U.S. Department of Education’s Minorities
and Retirement Security (MRS) Program:
First MRS Grant Seminar
June 10, 2014
CHICAGO STATE UNIVERSITY
Department of Computer Science, Mathematics, &
Economics,
Project Director and Faculty Mentors:
Aref Hervani
Elizabeth Arnott-Hill
Philip Aka
MRS Grant
U.S. Education Department and Social Security
Administration Award Four Grants to Improve
Retirement Security within Minority Low-Income
Communities:
Florida A&M University, Tallahassee
Chicago State University
University of Houston-Downtown
Hampton University
The purpose of the program is twofold:
(1)to provide opportunities for graduate
students at institutions with high
proportions of minority and low income
students to conduct rigorous research
in these needed fields.
(2)to address the financial literacy and
retirement planning needs within
minority and low-income communities.
Goals and Objectives: Goal I
Goal I:
Diversify the literature on minorities, and retirement
security and financial literacy interventions by increasing the
volume of research and publishing of minority scientists.
Goal I: Outcome
By the end of the grant cycle, the research and scholarly
activity produced by the fellow strained in the project show
a significant increase in the number and quality of academic
writings in the area of inquiry suitable for publishing.
Goals and Objectives: Goal II
Goal II:
Improve the academic currency of minority student
scientists who conduct high quality research in areas of
retirement security, financial literacy, and/or financial
decision-making within minority and low-income
communities.
Goal II: Outcome
There will be a significant increase in the number of welltrained minority scientists who are able to conduct research
in areas of retirement security, financial literacy, and/or
financial decision-making within minority and low-income
communities.
Goals and Objectives: Goal III
Goal III: Implement on-going assessment
activities that will demonstrate project
outcomes.
Goal III: Outcome
The final evaluation will demonstrate how
well the project met the goals and objectives
set forth in grant application and if
stakeholders derived a benefit.
Summary of Major Activities
Research Program
The project is designed as an intensive research
apprenticeship for minority student scientists.
The research project is designed to collect data
from low-income and minority communities as it
relates to financial literacy and financial decisionmaking interventions, analyze, build models, make
recommendations.
Research Program
The first year would be spent on doing:
(a)
(b)
(c)
(d)
A comprehensive literature review
Analyze and evaluate the existing
methodologies utilized by previous studies
Identify regional data sources
Conduct preliminary regression analysis,
evaluate current or build new
mathematical models using the existing
data for the south side
Research Program
(e)
(f)
(g)
Present the preliminary findings and
models.
Construct Survey Questionnaires and
identify ways through which SQ could be
distributed, completed, and collected.
Investigate the associated costs and time
required for SQ completion.
Research Workgroups: Actions
Fellows are assigned to one of three
interdisciplinary research workgroups of 2-3
students per team. Fellows will have access to all
mentors
Research Workgroups
Group I will design a research program to analyze/collect
data on the impact, scope and duration of behavioral
change among minority groups who have participated in
financial literacy interventions.
Group II will design a research program to analyze/collect
data that focuses on demographics and wealth disparities
among retiring low income and minority groups.
Group III will be trained to analyze the findings from
Group I and Group II in order to develop mathematical
models on retirement security and financial literacy for low
income and minority communities.
Research Workgroups
Group I: will design a research program to analyze/collect
data on the impact, scope and duration of behavioral
change among minority groups who have participated in
financial literacy interventions.
Faculty Mentor:
Dr. Elizabeth Arnott-Hills
Student Fellows:
Austin Percy
Torell Pernel
Tamara Williams
Research Workgroups
Group II: will design a research program to
analyze/collect data that focuses on demographics and
wealth disparities among retiring low income and minority
groups.
Faculty Mentor:
Dr. Philip Aka
Student Fellows:
Rosemary Spaulding
Thomas Buckner
Keith Brown
Research Workgroups
Group III: will be trained to analyze the findings from
Group I and Group II in order to develop mathematical
models on retirement security and financial literacy for low
income and minority communities.
Faculty Mentor:
Dr. Aref A. Hervani
Student Fellows:
Saeid Delnavaz
Koffi Dossussssss?
Professional Development and Support
Publishing / Writing Workshops:
A series of workshops that will focus on enhancing
the quality of the written and oral presentations of
the fellows’ research and introducing them to the
intricacies of getting work accepted by scholarly
publications will be conducted.
Standing Seminar: Biweekly throughout the
academic year, the fellows will make presentations
on the papers they are assigned to read to peers
and mentors.
MRS Program Student Fellows
Student’ Name
Major
Beginning Date
Ending
Date
Group I
Percy A. Austin
Torrel Pernell
Masters of Science in Math
Master of Science in Computer
Science
Tamara D. Williams Masters of Art in community
Counseling
Group II
Jennifer I. Jacobs
Masters of Arts in Education Science
Rosemary
Masters of Arts in Education Science
Spaulding
Buckner, Thomas
Masters of Art in Counseling
Koffi Dossou
Master of Science in Computer
Science
Group III
Kyle Boatright
Master of GIS
Saeid Delnavaz
Master of GIS
Keith Brown
Masters of Science in Math
Feb 1st , 2014
Feb 1st , 2014
April 8th, 2014
Feb 1st , 2014
April 15th,
2014
April 8th, 2014
May 22nd ,
2014
Feb 30th
Feb 1st , 2014
Feb 1st , 2014
June 1st, 2014
April 30th
MRS Program Student Fellows: time
Efforts
Student Name
Starting
Date
February
March
April
May
June
anticipated
Total
Hours Worked
Percy A. Austin
2/1
60
60
60
60
60
300
Torrel Pernell
2/1
60
60
60
60
60
300
Kyle Boatright
2/1
60
60
60
--
Saeid Delnavaz
2/1
60
60
60
60
Jennifer I. Jacobs
2/15
45
30
--
--
Tamara D. Williams
4/8
--
--
52.5
Buckner, Thomas
4/8
--
--
Rosemary Spaulding
4/15
--
Koffi Dossou
5/15
Keith Brown
6/01
Total Students
Hours
--
180
60
300
60
60
172.5
52.5
60
60
172.5
--
45
60
60
165
--
--
--
30
60
90
--
--
--
--
60
60
285
270
350
480
1,675
390
--
Progress Report: Student’s Work
Student’ Name
Total
Number of Articles Analyzed
Jan
Feb
March
April,
May
June
Group I
Percy A. Austin
Torrel Pernell
Tamara Williams
Subtotal
Group II
Jennifer I. Jacobs
Rosemary Spaulding
Subtotal
Group III
Kyle Boatright
Saeid Delnavaz
Buckner, Thomas
Subtotal
Total
16
16
16
16
32
32
12
16
12
16
16
16
16
16
R
R
12
12
8
8
32
32
R
R
12
12
76
80
32
Data
Data
16
16
16
16
Data
16
16
48
R
R
R
32
32
28
92
28
24
52
32
32
28
92
236
Progress Report: Student’s Work
Student’ Name
Total
Number of Pages Written
Feb
March
April,
May
June
Group I
Percy A. Austin
Torrel Pernell
Tamara Williams
Subtotal
48
48
0
96
48
48
0
96
30
30
36
96
Data
Data
48
48
0
0
30
30
96
96
84
276
Group II
Jennifer I. Jacobs
Rosemary Spaulding
Subtotal
0
36
0
36
0
48
0
48
0
0
24
24
0
0
48
48
0
0
30
30
0
84
72
156
Group III
Kyle Boatright
Saeid Delnavaz
Buckner, Thomas
Subtotal
48
48
0
96
48
48
0
96
30
30
36
96
0
Data
48
48
0
0
30
0
96
96
84
276
Total
228
240
96
144
90
708
MRS Program Student Fellows: Data Collection
Data Collected: State of Illinois
(1) Pension plan participation for Whites and Low Income Minorities.
(2) Household Asset for Whites and Low Income Minorities.
(3) Marital Status for Whites and Low Income Minorities. (number of
married & single people).
(4) Asset allocation for Whites and Low Income Minorities.
Income Levels for Whites and Low Income Minorities.
MRS Program Student Fellows: Data Collection
Partial Data Collected: State of Illinois
(1) Retirement account balances for Whites and Low Income
Minorities.
(2) Social Security payout for Whites and Low Income Minorities .
(3) Employment-based retirement plans for Whites and Low Income
Minorities.
(4) Education levels for Whites and Low Income Minorities (college &
Masters graduates).
(5) Home ownership for Whites and Low Income Minorities .
(6) Rental Housing for Whites and Low Income Minorities
MRS Program Student Fellows: Data Collection
Needed
Partial Data Collected: State of Illinois
Mutual funds for Whites and Low Income Minorities.
Level of Saving for Whites and Low Income Minorities .
Credit card debt for Whites and Low Income Minorities .
Amount of Social Security income & withdrawal for Whites and Low
Income Minorities.
Household Size for Whites and Low Income Minorities .
Owner for Whites and Low Income Minorities .
Gender for Whites and Low Income Minorities.
Financial Net Worth for Whites and Low Income Minorities
Progress Report: Seminars
Seminar Dates
Student Presenter
Topic Presented
February 24, 2014
(1) Percy A. Austin
(2) Torrel Pernell
(3) Jennifer I. Jacobs
(4) Kyle Boatright
(5) Saeid Delnavaz
Literature Review
Major cultural and historical
issues that surrounds the
minorities’ financial status
(1) Percy A. Austin
(2) Torrel Pernell
(3) Jennifer I. Jacobs
(4) Kyle Boatright
(5) Saeid Delnavaz
Literature Review
Major cultural and historical
issues that surrounds the
minorities’ financial status
March 7, 2014
Progress Report: Seminars
Seminar Dates
March 28, 2014
Student Presenter
Topic Presented
1) Percy A. Austin
(2) Torrel Pernell
(3) Jennifer I. Jacobs
(4) Kyle Boatright
(5) Saeid Delnavaz
Analyze and evaluate:
(a) the existing methodologies utilized
by previous studies
(b) mathematical models on retirement
security and financial literacy for low
income and minority communities.
1) Percy A. Austin
(2) Torrel Pernell
(3) Kyle Boatright
(4) Saeid Delnavaz
Analysis & evaluation of the
methods used in the studies and the
specific results that were obtained.
Formulate a clear conclusion(s) about
the factors that influence behavioral
change.
(1) Percy A. Austin
(2) Torrel Pernell
(3) Saeid Delnavaz
(4) Tamara D. Williams
(5) Buckner, Thomas
(6) Rosemary Spaulding
(1) Present & Discuss Data
Identification & Collection
(2)Major cultural and historical issues
that surrounds the minorities’ financial
status
April 25, 2014
May 30, 2014
Progress Report:
Minorities Retirement Security Center
http://www.csu.edu/mrsc/
Progress Report:
Community Contact
The Illinois Department of Aging
Dr. John Holton, Director of the Illinois
Department of Aging.
Fathers, Families and Healthy Communities
Dr. Kirk E. Harris, MPA, JD, PhD, Esq.
Senior Advisor
Thank You