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Evaluation of Asset Accumulation Initiatives

Resource type
Research
Research type
Policy Analysis
Resource Materials
PDF Icon Summary (63.24 KB)
PDF Icon Final Report (430.82 KB)

This study examines the experience of states in developing and operating special-purpose savings account programs for low-income households. The Food and Nutrition Service (FNS) is interested in the use of special-purpose accounts for the low-income population--especially for households receiving food stamps--as a means of promoting self-sufficiency . These accounts enable low-income persons to accumulate savings for specified purposes such as education, home purchase, home improvement, and business start-up. In many program initiatives, the account holder qualifies for matching funds to enable a more rapid accumulation of savings, as long as the account balances are used for the specified purposes. Such matched accounts are typically called a individual development accounts or IDAs.

Page updated: December 15, 2021