An experimental program that saw 100 Ulster County residents receiving a monthly cash payment has received good marks for having a positive impact. A report on the program was prepared by the University of Pennsylvania’s Center for Guaranteed Income Research. The program was known as Project Resilience. It was a partnership between the Ulster County government, Community Foundations of the Hudson Valley, and Ulster Savings Bank. Funding was from private sources and no taxpayer money was handed out. The program raised more than $2 million in funding so it could provide 100 Ulster County households with monthly cash payments […]
Background: Economic inequity systematically affects Black emerging adults (BEA), aged 18-24, and their healthy trajectory into adulthood. Guaranteed income (GI)-temporary, unconditional cash payments-is gaining traction as a policy solution to address the inequitable distribution of resources sewn by decades of structural racism and disinvestment. GI provides recipients with security, time, and support to enable their transition into adulthood and shows promise for improving mental and physical health outcomes. To date, few GI pilots have targeted emerging adults. The BEEM trial seeks to determine whether providing GI to BEA improves financial wellbeing, mental and physical health as a […]
CONCORD – The nonprofit Monument Impact on Thursday kicked off the city of Concord’s first guaranteed income program called ELEVATE Concord, in partnership with and funded by the city.
Monument Impact, which is based on Concord, selected 120 families living on modest incomes to participate, many of whom are renters of color.
Each family will receive $500 each month in direct, unrestricted cash assistance for one year to help cover necessities like rent, food, utilities and whatever is important to sustain their families and build financial security.The families received their first payment this month. Monument Impact said in a statement that […]
LIMRA’s 2023 Retirement Investors Survey shows that ongoing guidance from financial advisors remains essential as Americans approach and enter retirement. Changes in the way retirees generate income suggest an even more important role for financial advisors in the years to come.
Although most current retirees rely primarily on guaranteed sources like Social Security and pensions for income, the survey highlights room for improvements that advisors are uniquely positioned to address. Around a quarter of retirees surveyed this year do not receive sufficient guaranteed lifetime income to cover basic living costs without tapping into their savings. Although this proportion has remained […]
Photo Credit: Egan Wealth Advisors Deciding when and how to claim Social Security benefits — one of the few sources of guaranteed income you can count on for the rest of your life — is one of the most important decisions you will make as a retiree. You can claim Social Security anytime between age 62 and 70, but the longer you wait to start benefits, the bigger your monthly benefits will be for the rest of your life.
This tradeoff presents a conundrum for many of those who decide to retire before age 70 and need income in the […]
BOSTON – Is Boston taking a new approach to fighting poverty? Boston City Council this week held a hearing consider a guaranteed basic income program for its poorest residents.
City Councilwoman Kendra Lara, who sponsored Monday’s hearing, is calling for a pilot program aimed at “creating a pathway out of poverty for our most vulnerable constituents.”
“It’s not going to be universal,” Lara said, referring to programs that give money to people regardless of income level. “It will be especially targeted at families living below the poverty level,” Lara said.Two members of Mayor Michelle Wu’s administration testified at the hearing. They […]
Product (RFP/RFQ/RFI/Solicitation/Tender/Bid Etc.) ID: BANKING-5830
Government Authority located in Durham, North Carolina; USA based organization looking for expert vendor for guaranteed income pilot program.
[*] Budget: Looking for Proposals [*] Scope of Service: (1) Vendor needs to provide guaranteed income pilot program to the government authority located in Durham, NC. – To find a third-party program administrator to aid in carrying out the goals of a guaranteed income pilot. This pilot seeks to determine the effectiveness of providing no-strings-attached cash assistance to low income families in increasing the economic security and well-being of families. – The cash assistance […]
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jeevan utsav lic jeevan utsav lic life insurance corporation of india insurance LIC new plan Jeevan Utsav : ET NOW newsbreak is confirmed as Life Insurance Corporation of India (LIC) on Wednesday launched a new guaranteed pension plan. ET NOW on Tuesday reported that India’s largest life insurer is set to launch a new offering as soon as this week.The insurance giant has announced the launch of its new […]
Image credit: © Yurii Kibalnik | Dreamstime.com Almost half (49%) of private-sector retirement plan sponsors who do not currently offer an in-plan annuity say they’ve considered adding one, according to a new LIMRA survey .
Among plan sponsors interested in adding an in-plan annuity, 3 in 4 say they’ll decide whether to do so within the next 12 months, underscoring the intense focus on these options today. While very large, established employers were among the first wave of plan sponsors to adopt in-plan annuities–or frequently referred to as in-plan guaranteed income solutions–the research found the smaller side of the market […]
Comparing annuities through the open market can boost the size of your income in retirement by more than £13,000, new research from Canada Life has revealed.
Annuities are a form of insurance product, which deliver a guaranteed income for a set period, often until death. While some pension savers opt to simply purchase an annuity from their pension provider, the Canada Life research highlighted the significant benefit that you could get in retirement by taking the time to shop around for a better deal.
Canada Life compared the annuity rates on offer for a 65-year-old with a £150,000 pension […]