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ERIC Number: ED465087
Record Type: Non-Journal
Publication Date: 2002-Apr
Pages: 6
Abstractor: N/A
Reference Count: N/A
ISBN: N/A
ISSN: N/A
Encouraging Asset Development for Low-Income Workers.
Resources for Welfare Decisions, v6 n7 2002
Asset development is an emerging approach to promoting self-sufficiency for low-income workers. By promoting and rewarding savings, asset development strategies encourage individuals to set long-term economic goals. Asset development strategies can accomplish the following objectives: (1) give low-income workers the knowledge required to navigate issues related to asset building; (2) accumulate assets without disqualification from participating in income benefit programs; and (3) access savings mechanisms for which they are eligible (for example, housing-based accounts available to residents of public housing). A variety of resources regarding asset accumulation for low-income workers are available in print or on the World Wide Web. The following programs are among noteworthy asset accumulation programs: (1) the federal Assets for Independence Demonstration Program, which encourages low-income individuals to accumulate assets by matching individuals' savings with federal and private funds; (2) California's Worker Income Security Project, which offers individual development accounts and financial literacy training to low-income workers; (3) Massachusetts' Full Employment Program, which allows welfare-to-work clients to build savings by depositing $1 for every hour worked in their first year of employment; and (4) Oregon's program requiring employers to deposit $1 for every hour worked by their employees who are welfare-to-work clients. (Contains a list of 13 publications, electronic resources, and resource contacts.) (MN)
For full text: http://www.welfareinfo.org/encouragingassetdevelopmentRN.htm.
Publication Type: Collected Works - Serials
Education Level: N/A
Audience: N/A
Language: English
Sponsor: Annie E. Casey Foundation, Baltimore, MD.; Mott (C.S.) Foundation, Flint, MI.; David and Lucile Packard Foundation, Los Altos, CA.; William and Flora Hewlett Foundation, Palo Alto, CA.; Ford Foundation, New York, NY.; Administration for Children and Families (DHHS), Washington, DC.
Authoring Institution: Welfare Information Network, Washington, DC.
Identifiers - Location: California; Maryland; Massachusetts; Oregon