Tag: guaranteed income

401(k) Participant Interest in Annuities Surges, LIMRA Says

401(k) Participant Interest in Annuities Surges, LIMRA Says

Image credit: © Zolak Zolak | Dreamstime.com Last week, LIMRA announced that total U.S. annuity sales were $113.5 billion in the first quarter of 2024, 21% above prior year results and just shy of the quarterly sales record set in the fourth quarter 2023. But in addition to the growing demand for retail annuities, LIMRA also found a surge in worker interest to invest in an annuity within their employer-sponsored retirement plan.

In 2023, over three-quarters of defined contribution (DC) plan participants in their 40s, and two-thirds of all participants, would be likely to invest in an in-plan annuity if […]

Contra Costa County Sets Aside $7.5 Million for African American Holistic Wellness Center

Contra Costa County Sets Aside $7.5 Million for African American Holistic Wellness Center

Last week, the Contra Costa County Board of Supervisors agreed to set aside $7.5 million in Measure X funding for an African American Holistic Wellness and Resource Hub. The move came during a 2-day marathon Board of Supervisor Meeting for its Fiscal Year 2024-2025 Recommended Contra Costa County and Special District Budget. However, it did not come without concerns as the Holistic Wellness and Resource Center is still in the creation stage of what it will be and what services it will provide.

It is believed the wellness center would be placed in the City of Antioch , but no […]

Abundance, Universal Basic Income, Blockchain, and Technological Socialism

Abundance, Universal Basic Income, Blockchain, and Technological Socialism

On the threshold of a new era marked by rapid technological advances, the concepts of "abundance," "robotization," and blockchain technology have become critical drivers of economic debates. One of the emerging ideas that is gaining momentum is that of Universal Basic Income (UBI). This system guarantees a minimum income to all people, regardless of their employment status. This article explores the implications of abundance and UBI for our society, highlighting the concept of technological socialism as a genuinely transformative alternative economic paradigm. However, it also emphasizes the importance of considering these transformative ideas’ inherent challenges and opportunities. 1. The […]

Mayor Johnson will relaunch guaranteed basic income program to use up federal COVID funds

Mayor Johnson will relaunch guaranteed basic income program to use up federal COVID funds

Mayor Brandon Johnson’s administration will use some remaining federal COVID-19 relief funds to relaunch a guaranteed basic income pilot program for Chicago residents. Anthony Vazquez/Sun-Times Mayor Brandon Johnson’s administration will relaunch a popular guaranteed income pilot that has provided $500 monthly payments to low-income residents, as the city works to spend federal COVID-19 relief funding to avoid having to return it to the feds.

The relaunch was announced as part of the administration’s plan to dedicate and spend more than $374 million in federal funds earmarked for community projects.

The city — which has been slow to spend the money it […]

Monthly payments of $1,000 could get thousands of homeless people off the streets, researchers say

Monthly payments of $1,000 could get thousands of homeless people off the streets, researchers say

Reynaldo Roman, 39, tries to stay dry as he cooks a pot of beans in his makeshift home. A monthly payment of $750 to $1,000 would allow thousands of the city’s homeless people to find informal housing, living in boarding homes, in shared apartments and with family and friends, according to a policy brief by four prominent Los Angeles academics.

Citing positive preliminary results of pilot studies in several cities, including Los Angeles, they argue the income could provide access to housing for a portion of the population who became homeless primarily as the result of an economic setback. This […]

Andrew Spira Champions Universal Basic Income Amid Global Economic Challenges

Andrew Spira Champions Universal Basic Income Amid Global Economic Challenges

New Delhi (India), April 30: Andrew Spira , an entrepreneur and philanthropist, champions the cause of Universal Basic Income (UBI) to solve our world’s most common challenges. His advocacy comes at a critical juncture, as nations worldwide struggle with the far-reaching consequences of the COVID-19 pandemic, which has exacerbated pre-existing economic disparities and exposed the vulnerabilities of traditional social safety nets.

The Growing Appeal of UBI

Universal Basic Income is a potential safety net for those facing financial hardship. It offers individuals greater freedom in choosing employment and is a strategic tool to combat poverty. The program, designed with […]

Legal fight over Uplift Harris continues

Legal fight over Uplift Harris continues

Harris County Attorney Christian Menefee speaks at a recent press conference. Photo: Yi-Chin Lee/Houston Chronicle via Getty Images Harris County has asked the Texas Supreme Court to allow its guaranteed income pilot program to proceed as courts decide whether it’s legal.

Why it matters: The fate of the Uplift Harris program remains uncertain as the state Supreme Court weighs a legal challenge from Attorney General Ken Paxton. The 18-month program, if allowed to move forward, will send $500 a month to 1,900 low-income Harris County families.

State of play: 8% of Harris County residents live in areas of persistent […]

California Migrants in One City Eligible for $500 Monthly Payments

California Migrants in One City Eligible for $500 Monthly Payments

Migrants living in Fresno, California, could be eligible for $500 monthly payments from the government under the Advancing Fresno County Guaranteed Income program.

As inflation was at 3.5 percent for the 12 months ending in March, Americans are still struggling to afford everyday necessities like groceries and housing.

In Fresno, the government looks to aid low-income residents with monthly payments of $500. In all, 150 households will be chosen for the continuous checks, which are delivered to recipients through prepaid debit cards.However, there are certain criteria to qualify for the guaranteed income . Recipients must live in the list of specified […]

Residents from California residing in this particular city are entitled to receive $500 in monthly payments

Residents from California residing in this particular city are entitled to receive $500 in monthly payments

Migrants living in Fresno, California, may be eligible for $500 monthly payments through the Advancing Fresno County Guaranteed Income program. This program aims to aid low-income residents struggling to afford essentials like groceries and housing, particularly in light of a 3.5% inflation rate. 150 households will be chosen for the continuous $500 payments, delivered through prepaid debit cards. To qualify, recipients must reside in specified ZIP codes, have children up to age 5, and meet income requirements based on their ZIP code.

What sets Fresno’s guaranteed income program apart is its lack of consideration for immigration status in the application […]

States take aim at local basic income programs

States take aim at local basic income programs

A mother and son walk through one of the neighborhoods of Stockton where participants in the city’s universal basic income program live in Stockton, California, on February 7, 2020. The State of Trust in Government For more than 12 million households in the U.S. in 2022, most of their paychecks went toward rent, underscoring the nation’s dire housing affordability crisis. And with little money left over to cover other expenses, like medical bills or car maintenance, one expert says, families are at a higher risk of experiencing eviction or, in worst cases, homelessness if they fall behind on payments.

In […]