Exploring Saving Performance in an IDA Program: Findings for People with Disabilities

Lombe, Margaret; Huang, Jin; Putnam, Michelle; Cooney, Kate

doi:10.1093/swr/34.2.83

Cited by 17 publications

(25 citation statements)

References 12 publications

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“…While tax benefits such as deductions for home mortgages may provide little assistance to low income households (Sherraden 2001;Sherraden et al 2003), IDAs serve exclusively as an asset-promoting mechanism geared toward the poor. The exclusive focus on individuals living in or near poverty departs somewhat from Sherraden's vision of IDA's as a vast, universal, and inclusive assetbuilding system (Boddie et al 2004;Johnson 2000;Lombe et al 2008;Page-Adams and Sherraden 1997;Zdenek and Stein 2003).…”

Section: Asset Accumulation Policy: Individual Development Accountsmentioning

confidence: 98%

“…Over 40 states have IDA demonstration programs. Currently, it is estimated that 50,000 IDA accounts are in operation (Han et al 2009;Lombe et al 2008).…”

Section: Asset Accumulation Policy: Individual Development Accountsmentioning

confidence: 99%

“…This Act in part allowed states to use block grant funds for the purpose of matched savings accounts for people who are poor, and exempts these savings from asset limits in some means-tested programs (Beverly and Sherraden 1999;Lombe et al 2008). In 1998, the Assets for Independence Act (AFIA) authorized $125 million for account matching as well as administrative funding for a five-year IDA demonstration (Lombe et al 2008). According to the AFIA, the money that may be deposited by participants of IDAs must originate from ''earned income'' (Edwards 2005).…”

Section: Asset Accumulation Policy: Individual Development Accountsmentioning

confidence: 99%

“…The shift from income to assets or wealth in social thinking about poverty resulted in the formulation of legislation and policies in the mid 1990s (Lombe et al 2008;Johnson 2000). Individual Development Accounts (IDAs) (Zdenek and Stein 2003;Mendelsohn 2006), a system conceived by Michael Sherraden (Johnson 2000), epitomize these novel venues.…”

Section: Introductionmentioning

confidence: 99%

“…Individual Development Accounts (IDAs) (Zdenek and Stein 2003;Mendelsohn 2006), a system conceived by Michael Sherraden (Johnson 2000), epitomize these novel venues. 1 However, while people with disabilities comprise the majority of IDA participants, little attention has been paid to these individuals and their IDA saving performance (Hartnett et al 2008;Lombe et al 2008).…”

Section: Introductionmentioning

confidence: 99%

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Poverty Among Adults with Disabilities: Barriers to Promoting Asset Accumulation in Individual Development Accounts

Soffer

McDonald

Blanck

2010

American J of Comm Psychol

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Adults with disabilities disproportionally experience poverty. We examine one novel strategy to promote economic well-being among adults with disabilities living in or near poverty, namely Individual Development Accounts (IDAs). IDAs are designed to help individuals save money and subsequently accumulate assets. Although adults with disabilities account for the majority of IDA participants, scant attention has been paid to their IDA saving performance. We describe the significance of accumulating assets, particularly as it relates to adults with disabilities. We then map the nature of IDA programs and analyze barriers to participation in IDAs and asset accumulation related to conflicting federal policies and a lack of sensitivity to disability-specific needs. We conclude by offering policy recommendations from our analysis, including the need to eliminate the means-tests used in welfare policies, de-linking participation in IDAs from employment status, and involving people with disabilities in designing and evaluating asset accumulation policies and programs.

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Section: Asset Accumulation Policy: Individual Development Accountsmentioning

confidence: 98%

“…Over 40 states have IDA demonstration programs. Currently, it is estimated that 50,000 IDA accounts are in operation (Han et al 2009;Lombe et al 2008).…”

Section: Asset Accumulation Policy: Individual Development Accountsmentioning

confidence: 99%

Section: Asset Accumulation Policy: Individual Development Accountsmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

See 3 more Smart Citations

Poverty Among Adults with Disabilities: Barriers to Promoting Asset Accumulation in Individual Development Accounts

Soffer

McDonald

Blanck

2010

American J of Comm Psychol

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Economic security: An essential component of recovery.

Cook¹,

Mueser²

2013

Psychiatric Rehabilitation Journal

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People with psychiatric disabilities often face complex financial situations that make them unable to exercise choice in how their financial resources are allocated to needs including health care, housing, education, leisure pursuits, and other important life activities. One avenue to address these barriers is by helping people increase their financial literacy or knowledge of how to manage and budget their money effectively, accumulate assets, and reduce or deal with debt. However, our field has not focused sufficient attention on improving the financial literacy of the people we serve. Unfortunately, people with mental illness are significantly less likely to have any savings than those without mental illness. This makes them excellent candidates for state and federal programs that help low-income individuals accumulate savings that are exempt from asset limits for all federal means-tested programs. Growing out of these efforts, a field known as "asset-based welfare" has evolved to understand the role of assets in the promotion of individual and collective welfare. In an uncertain economy, the time is right for the field of psychiatric rehabilitation to expand its focus to include community and economic development activities that promote financial security.

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Understanding Effects of Flexible Spending Accounts on People with Disabilities: The Case of a Consumer-Directed Care Program

Lombe

Inoue

Mahoney

et al. 2015

Journal of Social Work in Disability & Rehabilitation

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This study set out to explore the saving behavior, barriers, and facilitators along with effects of participating in a consumer-directed care program among people with disabilities in the state of West Virginia (N = 29). Results suggest that respondents were able to save money through the program to enable them to purchase goods and services they needed to enhance their welfare and quality of life. Generally, items saved for fell into 3 broad categories: household equipment, individual functioning, and home modification. Facilitators and barriers to saving were also indicated and so were the benefits of program participation. Program and policy implications are presented.

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Exploring Saving Performance in an IDA Program: Findings for People with Disabilities

Cited by 17 publications

References 12 publications

Poverty Among Adults with Disabilities: Barriers to Promoting Asset Accumulation in Individual Development Accounts

Poverty Among Adults with Disabilities: Barriers to Promoting Asset Accumulation in Individual Development Accounts

Economic security: An essential component of recovery.

Understanding Effects of Flexible Spending Accounts on People with Disabilities: The Case of a Consumer-Directed Care Program

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