Asset Building Program

Archives: Asset Building Program Policy Papers

The California Secure Choice Retirement Savings Program

  • By
  • Aleta Sprague,
  • New America Foundation
April 26, 2013

Until recently, the “three-legged stool” was the reigning metaphor for achieving retirement security. Workers could anticipate being supported as they aged by a combination of Social Security benefits, private pension income, and personal savings. This model no longer holds. Traditional pensions have almost disappeared from the private workforce, personal savings are low, and Social Security benefits face political and actuarial threats. The new model relies on defined contribution (“DC”) plans like the 401(k).

Programs:

The Rise of the Dynamic Welfare State

  • By David Stoesz, Mississippi Valley State University
April 23, 2013

The American welfare state has been more malleable than its European counterparts. While this can be attributed to historical circumstances, adverse effects of social programs, notably public assistance and child welfare, are contributing factors. In recent decades, the private sector has become more influential in shaping American social welfare through demonstrations emerging from the nonprofit sector, the shaping of public philosophy by policy institutes, and the ability of corporate providers to conform policy to their preferences.

Programs:

State Asset Limit Reforms and Implications for Federal Policy

  • By
  • Aleta Sprague,
  • Rachel Black,
  • New America Foundation
October 31, 2012

Widespread hardship inflicted by the Great Recession has underscored the financial vulnerability of many families and the need for accessible resources that can help them meet their needs until they are back on their feet. Yet current policies convey conflicting messages about the value of saving. While higher income households are offered incentives to save through the tax code, many low-income families are actively discouraged from saving through policies that require them to choose between spending down their existing savings or foregoing the immediate assistance they need.

Programs:

Assets @ 21: Lessons from the Past/Directions for the Future

September 14, 2012

On May 1st and 2nd of 2012, the Asset Building Program at the New American Foundation hosted a symposium and ideas summit in Washington, DC to commemorate the 21st anniversary of the publication of Michael Sherraden’s seminal book, Assets and the Poor. Published in 1991, the book challenged the prevailing approach to welfare policy which focused on income maintenance and immediate consumption and as an alternative articulated a perspective which emphasized the role assets play in promoting social development over the life course.

Programs:

The Case for Extending Financial Inclusion to Children

  • By
  • Terri Friedline,
  • New America Foundation
June 1, 2012

Children are significantly more likely to maintain a relationship with financial institutions and have greater financial assets later in life when they own a savings account earlier in life. However, some children gain access to savings accounts while others do not—an inequity that tends to be based on parents’ socio-economic status. This paper explores the case for extending financial inclusion to children by improving access to basic financial services.

Programs:

The Assets Report 2012

  • By
  • Reid Cramer,
  • Rachel Black,
  • Justin King,
  • New America Foundation
April 11, 2012

While the recovery from the Great Recession appears be taking hold, economic hardship remains pervasive. Poverty is still on the rise and many families feel that the forces of recession have displaced them from the middle class. As the Presidential election year unfolds, these cyclical and entrenched threats to financial security provide a backdrop to public debates. Expanding opportunities for upward mobility has become a common call.

Programs:

"We Don't Do Banks"

  • By
  • Rourke OBrien,
  • New America Foundation
March 15, 2012

When asked whether he or anyone in his household has a bank account, Billy, a 24-year-old out-of-work father of two young daughters quickly retorted, “We don’t do banks.” A recent survey by the Federal Deposit Insurance Corporation (FDIC) reveals that Billy is not alone—more than 9 million American households are unbanked, meaning they have no checking or savings account.

Programs:

Overcoming Obstacles to College Attendance and Degree Completion

  • By
  • Rachel Black,
  • Mark Huelsman,
  • New America Foundation
March 5, 2012

The rise in student loan debt has directed critical attention to the growing pace of college costs as well as the reliance on loans to finance those costs. For graduates entering the workforce in recent years, many are finding that they are unable to find the type of job they thought they were securing when they received their degree, if they are able to find a job at all. Consequently, more loans are going unpaid and student loan debt has become the only class of consumer debt where defaults are increasing.

Programs:

Ideas for Refining Children's Savings Account Proposals

  • By
  • William Elliott,
  • New America Foundation
January 26, 2012

“Creating a Financial Stake in College” is a four-part series of reports that focuses on the relationship between children’s savings and improving college success. This series examines: (1) why policymakers should care about savings, (2) the relationship between inequality and bank account ownership, (3) the connections between savings and college attendance, and (4) recommendations to refine children’s savings account proposals.

Programs:

We Save, We Go to College

  • By
  • William Elliott,
  • New America Foundation
January 19, 2012

“Creating a Financial Stake in College” is a four-part series of reports that focuses on the relationship between children’s savings and improving college success. This series examines: (1) why policymakers should care about savings, (2) the relationship between inequality and bank account ownership, (3) the connections between savings and college attendance, and (4) recommendations to refine children’s savings account proposals.

Programs:
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