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National Technical Assistance for Individual Development Account (IDA) Providers

 

NDI is part of the Leadership team that is working with the Office for Community Services at the US Department of Health and Human Services to increase effective use of Individual Development Accounts (IDAs) by people with disabilities. IDAs are matched savings plans that enable eligible low-income workers to save money in order to meet specific savings goals. The funds are deposited regularly to a special account where they are matched by public and private funds. Savings goals that are allowed include buying a home, starting a business or continuing an education.

With federal funds under the Assets for Independence Act, organizations nationwide compete to manage IDA accounts for low-income workers willing to make a commitment to save earned income monthly toward the achievement of their asset goal. NDI is a subcontractor to the Lewin Group and Virginia Commonwealth University to provide training and technical assistance to Assets For Independence  (AFI) grantees to improve their understanding of options for services and support for individuals with disabilities.

A key role for NDI staff will be to help OCS and AFI grantees better understand the relationship between an IDA and other public benefits that results in expanded opportunities for financial stability and independence. NDI will be developing materials that will be posted on the AFI Resource Centers website: http://www.acf.hhs.gov/programs/ocs/afi/grantees.html . These materials will highlight effective use of IDAs by persons with disabilities complemented by other asset-building strategies.

 


 

For more information, please contact:

Elizabeth Jennings, [email protected]