Tag: guaranteed income

Baby Bonus question to pay new parents $1,000 gets OK to appear on Baltimore ballots

Baby Bonus question to pay new parents $1,000 gets OK to appear on Baltimore ballots

A ballot question that would establish a fund to issue payments to parents of newborn children in hopes of fighting child poverty has gotten approval to appear on ballots this fall.

The Maryland Child Alliance, a coalition of teachers and advocates that collected more than 13,000 signatures in support of the effort, was notified Monday by the Baltimore City Board of Elections that the group met the 10,000-signature threshold necessary to secure a spot on the ballot.

The question, which is among many circulated for the ballot this year, would create a Baby Bonus fund that would issue one-time $1,000 payments […]

Hundreds Of Black Women In Georgia Will Get $850 Per Month In Guaranteed Income

Hundreds Of Black Women In Georgia Will Get $850 Per Month In Guaranteed Income

A new guaranteed income pilot will give hundreds of dollars per month to poor Black women in Georgia in an effort to improve their financial stability and mental health and tackle the racial wealth gap.

The program, called In Her Hands , will give about $850 in monthly cash, no strings attached, to up to 650 Black women for two years. Launching early next year and distributing more than $13 million, it is poised to be one of the largest guaranteed income pilot programs in the U.S.

Led by the Georgia Resilience and Opportunity Fund, a coalition of local elected officials […]

Joyce Palmer, Founder & President of JP Financial Group, Interviewed on the Influential Entrepreneurs Podcast Discussing Concerns for Women In the Medical Profession

Joyce Palmer, Founder & President of JP Financial Group, Interviewed on the Influential Entrepreneurs Podcast Discussing Concerns for Women In the Medical Profession

Press Release

Joyce Palmer discusses navigating financial concerns for women in the medical profession Listen to the interview on the Business Innovators Radio Network:… Joyce Palmer discusses navigating financial concerns for women in the medical profession

Listen to the interview on the Business Innovators Radio Network: https://businessinnovatorsradio.com/interview-with-joyce-palmer-founder-and-president-of-jp-financial-group-discussing-concerns-for-women-in-the-medical-profession/ Student loan debt management is a significant concern for women in the medical profession, as underlined by Joyce Palmer, the founder of JP Financial Group. Palmer emphasized the impact of high-cost medical education on women in the medical field, leading to substantial student loan debt that can create financial stress and hinder long-term […]

Retirees spend twice as much when they have guaranteed income, research finds

Retirees spend twice as much when they have guaranteed income, research finds

David Blanchett, head of retirement research for PGIM DC Solutions and Michael Finke, professor of wealth management at the American College of Financial Services. Guaranteed income sources like Social Security, pension assets, and annuities give people a “license” to spend more in retirement, new research found.

The amount of extra discretionary spending is significant, as those with assets in those categories spend about twice as much as those whose savings are in investments, according to the paper, “Guaranteed Income: A License to Spend,” published by an annuity industry group .

The reason is that people think about guaranteed income sources differently […]

Upcoming Trends in Plan Design: From the Perspective of a Retiring Plan Sponsor

Upcoming Trends in Plan Design: From the Perspective of a Retiring Plan Sponsor

Known for innovative plan design ideas and offering a wide swath of benefits to his employees, Carl Gagnon, assistant vice president of global financial well-being and retirement programs at Unum Group, is retiring and stepping down from his plan sponsor role after nearly 20 years at the company.

Gagnon will now pass the torch to Ben Roberge, previously the director of financial and retirement programs at the insurance company, who will continue to carry out many of the plan initiatives that Gagnon spearheaded.

Get more! Sign up for PLANSPONSOR newsletters.  Reflecting on his time in the industry and looking […]

World investor Warren Buffett, 93, chairman of Berkshire Hathaway, said he would donate most of his ..

World investor Warren Buffett, 93, chairman of Berkshire Hathaway, said he would donate most of his ..

Input : 2024-07-01 17:48:02 Switzerland and Finland are one of the world’s richest countries and are known as happy advanced welfare states. The two countries drew worldwide attention by conducting experiments on basic income around the same time. In 2016, Switzerland put a referendum on a basic income plan to pay 2,500 Swiss francs (about 3.8 million won) to all adults unconditionally, and as a result of the vote, 77% of the people voted against it. Finland conducted a basic income experiment in 2017 and 2018, paying 560 euros (about 830,000 won) per month to the unemployed, but even […]

San Francisco’s basic income program for trans people to end after cuts, conservative lawsuits

San Francisco’s basic income program for trans people to end after cuts, conservative lawsuits

A person wears a trans flag as a cape at the Trans March on June 28, 2024. Photo by Io Yeh Gilman. San Francisco’s basic income program for transgender residents — one of two known guaranteed income programs catering to queer people in the country — is ending this month after budget cuts and lawsuits from conservative groups alleging the program illegally prioritized Black, Indigenous, and Latino applicants.

Since January 2023, the Guaranteed Income for Transgender People (GIFT) program has been giving 55 low-income trans San Franciscans $1,200 a month, as part of an 18-month pilot program to try and […]

Basic income alone can’t solve homelessness

The first-year results for the Denver Basic Income Project prove that solving homelessness requires a policy more complex than simply providing cash.

The Denver Basic Income Project aimed to “test the feasibility and impact of guaranteed income for unhoused people.” The study featured three different payment groups. Group A participants received 12 monthly cash payments of $1,000. Group B participants received an initial payment of $6,500 and then $500 over the next 11 months. Group C participants got the short end of the stick and received 12 monthly cash payments of $50 for a total of $600 over the 12 […]

Advocacy group says Baltimore’s “guaranteed-income” program is helping families

Advocacy group says Baltimore's

A child walks with an adult in a park at the Inner Harbor BALTIMORE — A "guaranteed-income" advocacy group just released a report praising Baltimore City’s $1,000-a-month cash giveaway to young parents .

The city’s program was launched two years ago, and uses $4.8 million of COVID-related federal funds . Two hundred households were chosen for the Guaranteed Income pilot – and, according to Mayors & Counties for a Guaranteed Income, they were doing better after one year than control-group families. Two years ago, we launched our Guaranteed Income pilot, providing vital support to 200 of Baltimore’s young families to […]

Retirees Who Annuitize More Freewheeling with Spending, Study Suggests

Retirees Who Annuitize More Freewheeling with Spending, Study Suggests

Retirement Income

A new study that examines the differences in household spending between retirees who have annuitized their income versus those who haven’t finds some considerable differences. In “ Guaranteed Income: A License to Spend ,” David Blanchett and Michael Finke, in their capacities as fellows for the Alliance for Lifetime Income’s Retirement Income Institute, reveal that retirees with assets that annuitize income spend twice as much as retirees with an equal amount of non-annuitized savings, suggesting that they may be reluctant to spend down their savings.

Using data from the Health and Retirement Study (HRS), [1] Blanchett and Finke examine […]