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Access to Secure Choice: Addressing the Barriers to Retirement Savings for Illinois Workers
November 28, 2017Illinois is among the first states in the nation to pass retirement savings legislation in the form of Secure Choice. With the implementation of Secure Choice, workers in Illinois at qualifying businesses without access to an employment-based retirement plan will be automatically enrolled in a retirement savings program. An estimated 1.3 million Illinoisans who currently do not have access to workplace retirement plans will be potentially impacted by Secure Choice. As Illinois moves toward Secure Choice implementation, however, there are a number of key questions that should be answered to help ensure that the program is addressing barriers to participation, especially among low-income workers, women, immigrants, and workers of color. This research is aimed at better understanding these barriers.
Building Brighter Futures: Children's Savings Accounts in Illinois
August 22, 2017In 2009, the Illinois General Assembly created a bipartisan task force to explore a CSA program in the state. The task force recommended that a savings account should be opened automatically at birth for every child born in Illinois, using the Bright Start Direct College Savings Program as the savings vehicle.This report examines what it will take to make these recommendations a reality. To better understand the Bright Start program and how to make it an effective savings tool for all families, we look at how Illinoisans are currently using Bright Start, and explore the challenges low-income families and families of color face in using Bright Start to save for college. We also examine how a CSA program could impact the racial wealth gap in Illinois. Finally, we make policy recommendations for the design and implementation of a CSA program to help Illinois families save for higher education.
Illinois Commission on the Elimination of Poverty Annual Report 2014
September 18, 2014It has been 6 years since the State of Illinois formed the Illinois Commission on the Elimination of Poverty to help reduce poverty throughout Illinois. In 2010 the Commission issued its recommended strategy in Building a Pathway to Dignity & Work and has since been monitoring Illinois's progress toward the goal of cutting extreme poverty in half. In this 2014 Annual Report, the Commission provides an analysis of progress toward that goal over the past year and recommendations for 2015.
Trapped by Credit: Racial Disparities in Financial Well-Being and Opportunity in Illinois
February 24, 2014This report examines an important aspect of economic racial disparity -- disparity in credit scores. The relationship between credit scores and minority presence illustrates a clear racial disparity in credit in Illinois. Though many related factors help to explain some variability in credit scores, even when controlling for them, racial differences in credit persist.Having a credit score is important for gaining access to things like education, better jobs, homeownership -- the very things that feed financial and social opportunity. While credit disparities exist in large measure due to the same historic policies that have limited access to broader financial opportunities for minorities, credit scores are particularly important to consider because they also impact individuals' future financial opportunities.In effect, credit scores can create a trap, one that minorities are more likely to fall into, thereby feeding the continued growth of income and wealth disparities.
The Game of Credit: A High Stakes Game That Perpetuates the Racial Wealth Gap
February 24, 2014Everyone deserves the opportunity to build a financially secure future for themselves and their families. Access to equal opportunities is the cornerstone of America's core values and is also a necessity to growing a healthy economy. Unfortunately, the reality is a far shot from that piece of the American dream. Income and wealth inequality are at levels that we have not seen since the Great Depression. The Great Recession further expanded an already growing racial wealth gap. Many families have little hope of upward mobility. In fact, day-to-day life is more expensive for those struggling to make ends meet due to unequal access to the tools we all need to build financially secure futures. This includes a basic checking & savings account, a retirement savings account, a college savings account, home and student loans with low interest rates, and a solid credit score that gives you access to these important loans. Many households of color have been denied access to these crucial financial tools needed to build credit and put them on a path to financial health. As this report will show, this inequity has led to a stark racial disparity in credit scores as well as related indicators, such as education level, student loan debt, employment, income, homeownership, and home loan debt. Fortunately, there are programs and policies that can help close the gap and therefore strengthen the economy, which are also outlined in this report.
Poverty Fact Sheets for Illinois House Districts
February 24, 2014These poverty fact sheets provide data for each Illinois House District on poverty, extreme poverty, homelessness, health care, affordable housing, retirement savings, and more.
Poverty Fact Sheets for Illinois Senate Districts
February 24, 2014These poverty fact sheets provide data for each Illinois Senate District on poverty, extreme poverty, homelessness, health care, affordable housing, retirement savings, and more.
Infographic: The War on Poverty, Then & Now
January 8, 2014Fifty years ago, Lyndon Johnson declared war on poverty, prompting the creation of dozens of federal programs aimed at alleviating poverty and striking at its roots. Today, just how much progress has been made? Download this infographic to find out.
Infographic: Overworked & Underpaid, The Fiscal Challenges of Domestic Workers
December 4, 2013Domestic workers are often overworked and underpaid. This infographic provides statistics on the fiscal challenges of domestic workers. Domestic workers perform vital tasks like caring for our homes, children, and the elderly, yet they represent the most neglected and vulnerable part of our nation's workforce. Help give domestic workers the respect, dignity, and protection they deserve by urging your state legislator to support a Domestic Worker's Bill of Rights. Statistics are derived from Home Economics, The Invisible and Unregulated World of Domestic Work, a report and national survey of domestic workers published by the National Domestic Workers Alliance.
Como Pagar las Primas (Premium) del Seguro Medico a traves del Mercado de Seguros Medicos de Illinois
December 1, 2013Esta guia compara las diferentes formas de pago disponibles para los consumidores. Debido a que su seguro de salud podria ser suspendido si los pagos mensuales no se reciben a tiempo, es importante que usted elija una opcion de pago que sea lo mas facil posible para que usted pague a tiempo. Para ayudar a facilitar el pago, se puede abrir una cuente de cheques en un banco o cooperativa de credito en su comunidad.
Starting Strong for Community Health! Connecting the Unbanked to Coverage
October 28, 2013This presentation explains the unique barriers to health insurance that exist for the unbanked in Illinois and what options exist for assisting this population as they seek to get covered under the Affordable Care Act (ACA).Learning Objectives:Understand why people are unbanked and the unique challenges they faceExplore the payment methods available for people paying for their health insurance premium on the Illinois Health Insurance MarketplaceLearn about resources to help residents become banked
HB 2262 - Answers to Questions We've Been Getting
October 24, 2013This fact sheet addresses questions from opponents to the legislation HB2262.
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