Tag: guaranteed income

A Builder Of Dreams

A Builder Of Dreams

By Robert J. Hansen | OBSERVER Staff Writer

Two Sacramento State students were sharing their stories about being foster youth when the marching band began playing and United Way surprised them and eight other students with a $60,000 check at the United Way’s “United in Purpose Gala” at Memorial Auditorium on April 20.

Ten Sac State students, all in attendance and participants in Sacramento State’s Guardian Scholars Program for former foster youth, will receive $500 a month of guaranteed income for 12 months beginning in May through the United Way California Capital Region’s new collegiate guaranteed income program.Jaliyah Dramera, […]

Is a National Guaranteed Income on the Horizon?

Is a National Guaranteed Income on the Horizon?

There’s now strong evidence that giving direct cash support to low-income families greatly reduces poverty.

by Glenn Daigon

April 25, 20242:23 PMHere are some anecdotes from participants in a Georgia program designed to support Black women with low incomes: “I was able to pursue my passion for animals by enrolling in school to become a veterinarian. Without the extra funds from this program, I wouldn’t have been able to take this step.” “The month that we received our first payment, my daughter became ill, and I missed LOTS of work to care for her and take her to appointments and […]

BlackRock wants to make it easier to get paycheck-like income from your retirement savings

BlackRock wants to make it easier to get paycheck-like income from your retirement savings

Patchareeporn Sakoolchai | Moment | Getty Images BlackRock wants to make it easier to get paycheck-like income from your retirement savings One of Americans’ biggest retirement fears is running out of money.

BlackRock hopes a new strategy to allow for paycheck-like distributions from retirement savings will help.

BlackRock , the largest asset manager, has launched a new product to help workers their retirement savings into a regular income stream that mimics the paycheck they receive during their working years.Experts say while the new choice could be helpful, its success will be defined by whether consumers actually take advantage of […]

$500 a Month: Chicago’s Basic Income Experiment

$500 a Month: Chicago's Basic Income Experiment

People say there’s no such thing as a free lunch. But no-one told officials in the US city of Chicago, who have been paying a guaranteed basic income to those in need since 2022.

More than 8,000 people in the Chicago area have been getting $500 every month.

It’s called "income," but there isn’t a job. The plan was to give people a basic amount of money in cash, to make their lives a little easier. They can spend it on anything they like.The local government thinks of it as an experiment — at first, it will last for between 12 […]

Banning Guaranteed Income Programs Undermines American Values

Banning Guaranteed Income Programs Undermines American Values

Michael Tubbs, Mayor of Stockton, poses for a photograph at his office in Stockton, California on February 7, 2020. More than 100 guaranteed income pilots have launched in the United States since 2018, and almost all have been unrestricted programs, meaning they place no limitations on recipients. Unlike other in-kind public benefits programs, unrestricted guaranteed income pilots assume recipients can better choose how to allocate resources than government programs can—an assumption that rigorous research has proven accurate. Findings from historic and current guaranteed income experiments demonstrate excellent outcomes for children , and strong gains in adult mental health , […]

BlackRock’s LifePath Paycheck Now Live for DC Plans

BlackRock’s LifePath Paycheck Now Live for DC Plans

BlackRock announced that its guaranteed income solution LifePath Paycheck , which can be used as a qualified default investment alternative in defined contribution plans, is now available.

The product provides access to a guaranteed income stream through a target-date fund, an investment vehicle many are comfortable with, that automatically adjusts to a targeted retirement year that the participant can select. Participants can then annuitize a portion of their assets as early as age 59½ by purchasing annuity contracts issued by providers Equitable and Brighthouse Financial, which are working with BlackRock on LifePath.

Nick Nefouse, global head of LifePath at BlackRock, said […]

Harris County residents won’t receive $500 payments after Texas Supreme Court order

Harris County residents won't receive $500 payments after Texas Supreme Court order

The Texas Supreme Court is temporarily blocking an initiative that would pay $500 in monthly income to poverty-driven residents in Harris County as part of the Uplift Harris County program.

This month, Texas Attorney General Ken Paxton sued Harris County over the program, which gives money to almost 2,000 residents who live in the highest poverty zip codes. Paxton argued that the "unlawful" program violates the Texas constitution, which forbids “any county, city, town or other political corporation or subdivision of the State … to grant public money or thing of value in aid of, or to any individual.”

“I’m pleased […]

BlackRock institutes new retirement funding program

BlackRock institutes new retirement funding program

Florida is known as a state where many Americans scurry to settle down and retire, and a new retirement program by the BlackRock investment and risk management company will pique the interest of many of those retirees.

BlackRock officials announced a new program called LifePath Paycheck . Right now, it’s only offered through employers to their workers. BlackRock officials said they have 14 companies planning to use the LifePath Paycheck program. They hope to expand the offering to individuals soon.

The investment strategy automatically adjusts to a targeted retirement year. BlackRock leaders say the program is a new approach to […]

Illinois Reparations Coalition Advocates for Guaranteed Income Program as Drug War Reparations

Illinois Reparations Coalition Advocates for Guaranteed Income Program as Drug War Reparations

Chicago, Ill. — On Tuesday, April 16, at the State of Illinois Building (555 West Monroe), the Illinois Reparations Coalition (IRC), spearheaded by Equity and Transformation (EAT), will address the R3 Board. The IRC aims to propose the reallocation of 25% of the funds from the R3 program to establish a guaranteed income initiative statewide. This program is designed specifically for those impacted by the War on Drugs and seeks to support 1,000 recipients with monthly payments of $500 for 18 months, in addition to covering administrative […]

Stimulus Check Payment Update: Americans are eligible to receive $500 if they meet the following criteria

Stimulus Check Payment Update: Americans are eligible to receive $500 if they meet the following criteria

Stimulus check payment Stimulus Check Payment Update: Americans are eligible to receive $500 if they meet the following criteria Important update on SSI payments in May: Full payment schedule

Important SSDI payment update: A new payment will hit your bank account within hours

Latest disability benefits update: Watch your bank account for a new SSDI payment starting today Another stimulus check payment has been approved for thousands of Americans in Tacoma, Washington. Eligible applicants are scheduled to receive monthly checks of up to $500 in April if they meet certain requirements. The Growing Resilience in Tacoma […]