Tag: guaranteed income

Ithaca Guaranteed Income launches dashboard, finds most funds spent on food

ITHACA, NY—The fourth monthly payment of $450 has just been made to participants in the Ithaca Guaranteed Income (IGI) pilot program that the City of Ithaca first announced last December.

Although the entire registration process took a little longer than initially planned, payments began in June and each participant received a reloadable debit card that is reloaded with funds on the 15th of each month.

The program was designed with the intention of helping caregivers with some additional money for their responsibilities that may be uncompensated, such as caring for children or an elderly person. Asha Sanaker, a local resident and […]

Ithaca Guaranteed Income launches dashboard, finds majority of funds spent on food

Ithaca Guaranteed Income launches dashboard, finds majority of funds spent on food

Asha Sanaker is one of the participants in the Ithaca Guaranteed Income pilot program. (Photo by Casey Martin) ITHACA, N.Y.—The fourth monthly payment of $450 was just made to participants in the Ithaca Guaranteed Income (IGI) pilot program that the City of Ithaca first announced last December .

Though the whole enrollment process took a little longer than initially planned, payments began in June, and each participant was given a reloadable debit card that is replenished with funds on the 15th of each month.

The program was designed with the intention of helping caretakers with some additional money for their responsibilities […]

With shutdown of Cantrell’s nonprofit, what will happen to private funds?

With shutdown of Cantrell’s nonprofit, what will happen to private funds?

Photo by Greg LaRose NEW ORLEANS – A lawyer for Forward Together New Orleans, the nonprofit holding the purse strings for several of New Orleans Mayor LaToya Cantrell’s city-sponsored social welfare programs, has said the organization will shut down following a government subpoena and a legal dispute between its governing board and its sole staffer.

Attorney Allen Miller told a judge last week that the organization plans to return all of the city funds it holds once a final judgment is issued in a lawsuit the board filed against former Forward Together executive director Shaun Randolph. The dispute incudes claims […]

For the Love of the Black Community

For the Love of the Black Community

Ariana Drehsler Café X: By Any Beans Necessary , isn’t just a coffee shop. It’s a vibrant celebration of Black community. It’s a worker cooperative, founded by Khea Pollard and her mother Cynthia Ajani as a pathway to economically empower the Black community in San Diego. At Café X, it’s the workers that own a piece of the business, not a single owner or detached shareholders.

Pollard, who has a master’s in nonprofit leadership and management from the University of San Diego, was assigned to develop a passion project as part of a leadership fellowship program called RISE San Diego. […]

TCG IS FIRST OFF-PLATFORM RETIREMENT PLAN PROVIDER OF TIAA’S SECURE INCOME ACCOUNT

A TIAA lifetime income retirement solution is now available for all TCG plan sponsor clients

AUSTIN, Texas, Oct. 27, 2022 /PRNewswire/ — TCG, a HUB International company ( TCG ), will offer an annuity from the Teachers Insurance and Annuity Association of America (TIAA), the first time TIAA has offered a version of its guaranteed lifetime income solution outside its own record-keeping platform. TIAA’s Secure Income Account (SIA) is now available as a retirement investment solution to all plan sponsor clients TCG serves.

"Until today TIAA’s annuity option has only been available to those retirement plans using TIAA’s recordkeeping platform, […]

Market ‘Fear Factor’ Has Retail Annuities Booming. Can In-Plan Options Catch the Tailwind?

Market ‘Fear Factor’ Has Retail Annuities Booming. Can In-Plan Options Catch the Tailwind?

For over a decade, retirement savers have gotten used to growth in equities and relative stability in fixed income . Even the pandemic-induced market crash was relatively short-lived. Then came persistent inflation—not transitory, as the now infamous guidance went—and a rare drop in both stock and bond values.

When retirement plan participants, especially if they are in or near retirement, see drops in their retirement portfolios of 20% or more, it can cause panic . It can also drive investors—and their advisers—to protective options such annuities, says Todd Giesing, an assistance vice president at LIMRA, which tracks annuity sales.

“It’s a […]

UBI Payment Status: What states will send checks in October? – Marca

UBI Payment Status: What states will send checks in October? – Marca

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En/lifestyle/us-news/personal-finance
The state are providing further help
The response to the widely-documented cost of living crisis has meant that many US states have been running various programs to help people with their finances.
They include stimulus checks for certain people in society as well as tax rebates and student loan debt write-offs. A much talked about concept now is the Universal Basic Income (UBI) which is not actually a new concept at all. The idea is to provide long-term cash payments that create a safety net for everyone. Payments have no conditions attached and can be as […]

‘Ugly times’ are pushing record annuity sales. Here’s what you need to know before you buy

‘Ugly times’ are pushing record annuity sales. Here’s what you need to know before you buy

Izusek | E+ | Getty Images

Consumers are funneling money into annuities as the stock market tanks and higher interest rates raise payouts for buyers.

Annuity sales in the third quarter of 2022 approached $80 billion, just edging out the $79.4 billion record set in Q2, according to estimates published by Limra, an insurance industry trade group.Consumers are on pace to buy almost $300 billion of annuities in 2022, which would handily beat the $265 billion purchased in 2008, the current annual record, said Todd Giesing, assistant vice president of Limra Annuity Research.As during the 2008 financial crisis, purchasing decisions seem […]

In the Fight for Racial Justice, Our History Demands a Guaranteed Income | Opinion

In the Fight for Racial Justice, Our History Demands a Guaranteed Income | Opinion

America’s history around race and inequality is a painful one and is still being felt today. As a Black woman, I have felt this pain personally; and as an elected official in Illinois, I am committed to fighting back against the remnants of racist policies. At the forefront of our fight for racial justice, we are launching a guaranteed income program in our county to help folks struggling to make ends meet, and I call on my colleagues in the federal government to join me.

From slavery to internment camps to redlining, our Black, brown, and immigrant neighbors have time […]

Guaranteed income helps with basic needs

Guaranteed income helps with basic needs

Recipient Geno Rosario said GRIT has helped him in ways that he didn’t expect. Recurring, unconditional cash payments alleviate the costs of basic necessities and make participants more economically resilient.

On Sept. 28, the initial spending and demographic results of Tacoma’s GRIT demonstration were rolled out as part of a major, nationwide step forward for the guaranteed income movement.

Mayors for a Guaranteed Income’s new data dashboard shows that in Tacoma and around the country, families are using their need-based cash payments to cover necessities in an uncertain economy – providing them with the opportunity, freedom and resilience they need to […]