Early life wealth building programs exist across the US but vary in the ways they are structured. But elements like initial seed amounts, investment growth, and contribution sources impact the goals of the accounts. This fact sheet covers current progress of programs and proposals across the US and later compares existing programs based on key account distinctions.
Authors
Madeline Brown, Maia Berlow, Samantha Atherton, Miranda Santillo
- Pages
- 4
- Published in
- United States of America
Table of Contents
- Early Life Wealth Building Accounts Exist across the US 1
- FEDERAL PROPOSALS 1
- The 401Kids Savings Account Act S. 3716 was introduced in 2024 by Senator Casey D-PA and would open and seed a 529 account for all children in the US while expanding uses beyond education. 1
- STATE LEGISLATION PROGRAMS AND PROPOSALS 2
- In 2021 Connecticut and DC passed baby bonds legislation both programs are currently in implementation stages. 2
- LOCAL PROGRAMS AND PILOTS 2
- The Georgia Resilience Opportunity Fund in Atlanta is currently fundraising to launch a baby bonds pilot but targeting teens instead of infants. 2
- PRINCIPLES TO GUIDE ACCOUNT STRUCTURE 2
- Making real investments 2
- Considering structure scale and transparency 2
- Create a centralized savings plan structure to enable coherence scale low fees investment growth sustainability and a database for policy evidence. 2
- Prioritizing ease of access and use . 2
- Key Elements of Existing Programs 3
- TABLE 1 SOURCES 4
- NOTES 4
- ABOUT THE AUTHORS 4
- Madeline Brown Maia Berlow Sam Atherton Miranda Santillo 4
- ACKNOWLEDGMENTS 4
