Tag: guaranteed income

States Should Protect Guaranteed Income Initiatives and Other Unrestricted Cash Programs

States Should Protect Guaranteed Income Initiatives and Other Unrestricted Cash Programs

States should listen to the research and to people with the lived expertise of making a limited income work for their families: both say guaranteed income programs that provide cash to households with low incomes are a powerful mechanism to deal with financial hardship and build a strong economic foundation for the future. What states shouldn’t do is prohibit these programs, an unfortunate trend in some states and a position put forward by the conservative Foundation for Government Accountability (FGA).

Bills to preempt local governance and to prohibit these successful guaranteed income (GI) programs are either under consideration or in […]

Minnesota Proposes ‘First of Its Kind’ Basic Income Program

Minnesota Proposes ‘First of Its Kind’ Basic Income Program

Woman Budget Money Finance Business Savings fizkes shutterstock Minnesota is considering a bold initiative: a universal basic income program that could provide residents with a monthly check, aiming to offer financial stability and address income inequality. The potential impact on economic security because of this idea is under scrutiny. Minnesota Leads the Charge

image credit: LAM Photography/Shutterstock In the heart of the debate on universal basic income, Minnesota steps up, possibly becoming the trailblazer with its monthly stipend initiative. A $100 million pilot program is on the table, promising up to 10,000 residents a breath of financial relief with […]

New Wave of Annuities in TDFs: ‘It’s Complicated’

New Wave of Annuities in TDFs: ‘It’s Complicated’

Image credit: © Niall Wiggan | Dreamstime.com A new wave of target date funds featuring annuities are here, and the question of whether this combination has the potential to be the “easy button” for retirement income is explored in new research this week from Morningstar. Image credit: © Ilnur Khisamutdinov | Dreamstime.com In “Target Dates and Annuities… It’s Complicated,” Morningstar’s Jason Kephart and Samantha Lamas along with contributor Spencer Look examine how some target date providers are looking to succeed where others have fallen short by including annuities within TDFs to hedge against the very real fear Americans have […]

$1,800,000 Guaranteed Income Program Expands As Government Prepares To Hand Out Cash in Major US City

$1,800,000 Guaranteed Income Program Expands As Government Prepares To Hand Out Cash in Major US City

One of the largest guaranteed income programs in the US is preparing to hand out more cash.

The Denver Basic Income Project (DBIP) is extending its $1.8 million pilot program for another six months to give as much as $1,000 to 660 participants selected for the expansion, reports the Colorado Newsline.

The program initially picked 800 beneficiaries and separated them into three cohorts.The first group is collecting $1,000 per month for a year. The second group received a one-time payment of $6,500 and then $500 for 11 months. The final group, tagged as the control group, is receiving a flat $50 […]

Will a guaranteed basic income would ensure that everyone have access to basic needs of life?

A guaranteed basic income, such as Universal Basic Income (UBI), has the potential to ensure that everyone has access to basic needs of life. UBI is seen as a preventive tool that can eradicate poverty, distribute wealth equitably, and provide individuals with economic freedom and dignity . Implementing a Basic Income Guarantee (BIG) could alleviate absolute poverty, improve health outcomes, and move individuals closer to the relative poverty line . While there are concerns about potential dangers, such as the need for additional universal benefits and the risk of justifying imbalances in economic and political power, the overall consensus […]

Fintech Friday: Streamlining the Uber-Confusing Retirement Income Space

Fintech Friday: Streamlining the Uber-Confusing Retirement Income Space

Retirement income is all the rage—or at least the idea of retirement income is all the rage.

Advisors, plan sponsors, and, yes, participants increasingly acknowledge the need for some sort of guaranteed income stream to combat longer life spans and, thus, longer retirements. It was a major theme at the recent NAPA 401(k) Summit in Nashville. Several retirement income-focused sessions were on the agenda, and panelists mentioned Nestimate in almost every one.

According to founder and CEO Kelby Meyers, the early-stage fintech company’s mission is to “empower guaranteed income in the 401(k).”“Guaranteed income is coming to a 401(k) plan near you,” […]

Uplift Harris: Reaction after Texas AG sues to stop Harris County’s guaranteed income program

Uplift Harris: Reaction after Texas AG sues to stop Harris County's guaranteed income program

HOUSTON – Reaction is pouring in after the Texas Attorney General filed suit this week to stop the Uplift Harris guaranteed income program.

More than 1,900 low income families had been notified they would start receiving $500 a month for 18 months to spend as they see fit. The program is modeled on guaranteed income programs around the country aimed at helping people lift themselves out of poverty.

SUGGESTED: Texas AG Ken Paxton sues Harris County over guaranteed income program Recipients we spoke with last week said they were already making plans for the money and feeling a huge sense […]

Americans to score little-known $750 monthly payments from $1.8 million pot – and you’ll only need a single requirement

Americans to score little-known $750 monthly payments from $1.8 million pot – and you’ll only need a single requirement

A CITY in Massachusetts has started a program that allows families to receive monthly payments of $750 if they face housing instability.

The pilot program was inspired by a similar pay-out that Cambridge, Massachusetts launched in 2021 that gave $500 a month to 130 homeowners for 18 months. A city in Massachusetts started a program that allows families to receive monthly payments of $750 if they face housing instability The Somerville Guaranteed Basic Income Program was announced on March 20 and aims to help those experiencing housing instability across the city.

It was developed by a partnership between two research centers […]

Austin looks to restart $1K monthly payments to low-income families; AG fights guaranteed income

Austin looks to restart $1K monthly payments to low-income families; AG fights guaranteed income

A city program offering unconditional $1,000 monthly payments to dozens of Austin households could restart this year, while the legality of such guaranteed income programs is being disputed at the state level.

Two-minute impact

In an attempt to combat housing insecurity in Austin, city officials in 2021 proposed a pilot program that’d distribute monthly checks to eligible families with no strings attached. It followed a similar rental assistance measure created during the pandemic.The $1.14 million one-year pilot was formally outlined and approved by City Council in 2022 to support 135 low-income Austin households exiting homelessness, behind on rent or […]

Texas AG Ken Paxton Sues to Halt Harris County’s “Socialist Experiment” Guaranteed Income Program

Texas AG Ken Paxton Sues to Halt Harris County's

Legal drama unfolds in Texas as Attorney General Ken Paxton has filed a lawsuit against Harris County, looking to block its new guaranteed income program from taking effect. According to AP News , Paxton’s office is challenging the initiative, dubbing it "Harris Handout," and labeling it a "socialist experiment." Paxton argues the program is unconstitutional and represents an "illegal and illegitimate government overreach."

Slated to begin this month, the "Uplift Harris" program was set to distribute $500 monthly payments for 18 months to 1,928 residents with incomes below 200% of the federal poverty line. Funded by $20.5 million from the […]