Tag: guaranteed income

Barriers continue to keep older Aussies away from ‘golden ticket’ advice

While financial advice continues to be associated with positive outcomes for older Australians, new data has highlighted persistent concerns regarding the lack of appropriate support.

With inflation pushing living costs higher, planning for the future continues to be a major concern for older Australians, according to new research by Challenger in partnership with National Seniors Australia.

The National Seniors Social Survey of 4,700 Australians aged over 50 revealed that many respondents feel as though they lack the appropriate information to help navigate retirement.However, financial advice continues to be associated with positive outcomes for Australians in this age bracket, with 41 per […]

Young Plan Participants Expect to Rely on Personal Retirement Accounts

Young Plan Participants Expect to Rely on Personal Retirement Accounts

Younger 401(k) participants are not counting on Social Security or other guaranteed income sources to support them in retirement. Instead, they plan to depend primarily on their personal retirement accounts, which signals a need for changes in defined contribution plan design before younger generations retire, according to Cerulli Associate’s “U.S. Retirement Edition: The DC Advice & Income Solutions Issue.”

Responding about their expected primary source of retirement income, 58% of Millennial 401(k) participants cited personal retirement accounts, while just 6% pointed to Social Security. By contrast, 39% of Generation X 401(k) participants expected personal retirement accounts to be their […]

Pope Francis Warns World’s Wealthy About ‘Pure Greed’

Pope Francis Warns World's Wealthy About 'Pure Greed'

Pope Francis has called for higher taxes for billionaires, saying it is often the wealthiest members of society who oppose social justice "out of pure greed."

The 87-year-old leader of the Catholic church also renewed his calls for a Universal Basic Income (UBI) that would award everybody a guaranteed monthly payment, regardless of their employment situation.

"Wealth is made to be shared, to create and promote fraternity," he told a meeting of various grassroots organizations gathered from five continents on Friday. The event, the World Meeting of Popular Movements (WMPM), was the tenth to be held at the Vatican, which hosts […]

Loudoun County Guaranteed Income Pilot Program Voted Down

Loudoun County Guaranteed Income Pilot Program Voted Down

Counting Money After months of discussion and the adoption of similar programs by some of its neighbors, Loudoun County leadership voted down a guaranteed income pilot program.

In a surprising turn of events, Loudoun County’s Board of Supervisors abandoned the pursuit of a new economic mobility pilot in a 3-5-1 vote. Months earlier, in May, the board had voted 6-2-1 in favor of appropriating $2 million of county fund balance dollars to the program’s development.

Supervisors Michael Turner, D-Ashburn, Kristen Umstattd, D-Leesburg, and Caleb Kershner, R-Catoctin, joined those opposing (Kershner was absent for the May vote) and Laura TeKrony, D-Little River, […]

U.S. Retirement System Could Benefit from a Hybrid Model, Say Researchers

By:

The United States could benefit from a new retirement system model featuring a “hybrid” system consisting of the best elements from defined contribution (DC) and defined benefit (DB) plans, TIAA Institute researchers suggest after studying several countries’ systems.

In noting that the average retiree can now expect to spend about two decades in retirement, roughly double the time from 50 years ago, the study ( The Future of Retirement Security ) looks at how seven countries have adapted their retirement systems to account for these extended lifespans and other challenges.Countries selected for the study include: the United States, the […]

Guaranteed Income Pilot Program Fails Loudoun Supervisor Vote

Guaranteed Income Pilot Program Fails Loudoun Supervisor Vote

The Loudoun County Board of Supervisors did not approve a guaranteed income pilot program that would help some low-income households.

Patch Staff The guaranteed income pilot program for low-income households is not moving forward after a Loudoun County Board of Supervisors vote. (Google Maps) LOUDOUN COUNTY, VA — A guaranteed income program failed to get enough votes for approval by the Loudoun County Board of Supervisors Tuesday.

The vote against the program came after the board’s Finance/Government Operations and Economic Development Committee voted 3-2 to recommend the program with Supervisor Kristen Umstattd (D-Leesburg) and Supervisor Matt Letourneau (R-Dulles) opposed. The […]

Kawarthas region board of health calls for federal government action on guaranteed basic income

Kawarthas region board of health calls for federal government action on guaranteed basic income

Board for Haliburton, Kawartha, Pine Ridge District Health Unit endorses Bills S-233 and C-223

By Natalie Hamilton, Local Journalism Initiative Reporter –

Published September 20, 2024 In 2018, Hamilton photographer Jessie Golem created a photographic series called "Humans of Basic Income," showing the human side of the Ontario provincial government’s decision to cancel the basic income pilot project. Herself a participant in the program, Golem’s portraits of participants in the program — who are holding signs sharing their stories of how project has benefited them — received national and international attention. (Photo: Jessie Golem) To address poverty and food insecurity, […]

100 Minnesota Artists Are Receiving Guaranteed Income for the Next Five Years

100 Minnesota Artists Are Receiving Guaranteed Income for the Next Five Years

Kandace Creel Falcón, one of the artists in Springboard for the Art’s guaranteed income piklot program, gives a talk on their billboard commission In a welcome bit of good news, 100 artists in Minnesota are receiving five years guaranteed income as part of an expanded pilot program for St. Paul nonprofit Springboard for the Arts . The no-strings-attached payments are $500 a month.

It’s one of the longest-running guaranteed income pilots ever staged in the U.S., which Springboard hopes will provide key data demonstrating the value of guaranteed income and its positive effects on recipients’ lives.

“We’re excited to contribute research […]

Attorney General Ken Paxton Sues Harris County to Stop New Unlawful ​“Guaranteed Income” Scheme

Attorney General Ken Paxton Sues Harris County to Stop New Unlawful ​“Guaranteed Income” Scheme

Paxton Says It Violates Texas Supreme Court’s Previous Ruling

September 20, 2024 – Texas Attorney General Ken Paxton sued the Harris County Commissioners Court for attempting to restart its unlawful “guaranteed income” program despite being ordered to halt all similar cash disbursements in a virtually identical case.

In April, Attorney General Paxton sued Harris County to stop an unlawful “guaranteed income” welfare scheme called “Uplift Harris” that sought to redistribute public money with “no strings attached” to 1,928 Harris County residents—including some classifications of noncitizens. The Texas Constitution explicitly rejects such programs and forbids “any county, city, town or other political […]

Harris County attorney slams Texas AG Ken Paxton over lawsuit targeting latest guaranteed income program

Harris County attorney slams Texas AG Ken Paxton over lawsuit targeting latest guaranteed income program

Christian Menefee accused Paxton of "using people living in poverty as a means to score political points" after he challenged the guaranteed income program again.

HARRIS COUNTY, Texas — Texas Attorney General Ken Paxton has filed another lawsuit against Harris County over its latest guaranteed income program.

The guaranteed income program was revised after the Texas Supreme Court blocked it from taking effect in June within an hour of the first payments going out.The program provides $500 a month on a preloaded debit card to 1,900 families who live below 200% of the federal poverty line. The revised version added spending […]