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September 27, 2012 With Support from The Ford Foundation Hosted b y Slide 2 MODERATOR Melissa Wells Policy Assistant, Joint Center for Political and Economic Studies Slide 3 Working to enrich the dialogue and research to support asset building and wealth accumulation while addressing issues related to racial wealth disparities Slide 4 Supports policy education of Ford Foundation grantees about best practices and strategies for asset building, using a variety of media and venues Slide 5 Director Melbah Smith Slide 6 IABG Coordinator Senior Policy Associate, Heartland Alliance Lucy Mullany Slide 7 7 Slide 8 Empowering Mississippians How We Came Into Being Slide 9 Empowering Mississippians Slide 10 Diversity in Partnerships Institutions of Higher Learning Public Policy Advocates Financial Institutions State Legislators Social Service Agencies Agriculture Agencies Faith-Based Coalitions Entrepreneurs Slide 11 Empowering Mississippians Developing an Asset-Building Agenda: Lessons From The Field Slide 12 Empowering Mississippians CPM Structure Slide 13 Empowering Mississippians Challenges Encountered/Resolved Unlikely Allies Stakeholder Organizations Organizational Growth/Development Slide 14 Empowering Mississippians Developing an Asset-Building Agenda: Lessons From The Field Slide 15 Empowering Mississippians Sustaining Engagement Slide 16 Hi! Im a Senior Policy Associate with Heartland Alliance and the Coordinator of the Illinois Asset Building Group! Slide 17 Our Beginning www.illinoisassetbuilding.org Heartland Alliance Shriver Center Slide 18 Coalition Structure www.illinoisassetbuilding.org Steering Committee Community Leadership Councils Working Groups Slide 19 Challenges www.illinoisassetbuilding.org Communicating Effectively About Asset Building Engaging a Stakeholders Needed to Move Our Policy Agenda Forward: Statewide Diverse Constituency Creating Opportunities for Sustained Engagement Political Environment Slide 20 Unlikely Allies & Stakeholder Organizations Slide 21 Slide 22 Slide 23 Sustaining Engagement .When Change is not ImmediateWhen Change is not Immediate Slide 24 Empowering Mississippians Developing an Asset-Building Agenda: Lessons From The Field Our Policy Agenda & Environment Slide 25 Empowering Mississippians Policy Agenda 2012 Farm Bill 2012 IDA Legislation Cooperative Statute Non-Custodial Father Initiative Slide 26 Empowering Mississippians DEVELOPING AN ASSET-BUILDING AGENDA: LESSONS FROM THE FIELD The State of Things Agenda Setting Drivers The Process Asset-Building: Barriers/Opportunities Slide 27 Empowering Mississippians DEVELOPING AN ASSET-BUILDING AGENDA: LESSONS FROM THE FIELD Politics in Mississippi Slide 28 Policy Agenda 2013 Childrens Savings Accounts Automatic IRAs Safe Banking Products (Bank On & Safe Alternative Small Dollar Loans) Payday Lending Reforms Asset Limit Reforms Slide 29 Automatic IRA Policy Require Illinois businesses with more than 10 employees and that have been established for more than 2 years to provide their employees with access to an Individual Retirement Account (IRA). Employees may opt-out of the Automatic IRA program and adjust their contribution at any time. To reduce administrative costs, the IRA accounts will be pooled accounts administered by the State Treasurers Office. Slide 30 Automatic IRA Strategy Building Political Will Legislation introduced in 2012 & 2012 Subject Matter Hearing in the House in 2012 Research Report was released in September that addressed key questions from legislators Mobilization & Outreach Slide 31 Automatic IRA Next Steps 1.Dissemination of Research 2.Media Outreach 3.Continued Education of Legislators 4.Outreach to the Business Community Slide 32 Childrens Savings Accounts Policy 1.Universal Childrens Savings Accounts (CSAs) created at birth (long term campaign) 2.Increase Access to the States 529 College Savings Account program (series of administrative & legislative changes) Slide 33 Childrens Savings Accounts Strategy & Next Steps Mobilization: Hosting community trainings and roundtables on 529 college savings and CSAs Communications: Collecting video testimonials for a larger marketing & outreach campaign Research: Collecting data on current 529 College Savings Account participants in Illinois Building Political Will: 1. Illinois General Assembly created a CSA task force in 2010. 2. Working with key state offices to implement incremental changes. 3. Possibly Introducing CSA or 529 Legislation in 2013 Slide 34 Banking the Unbanked Policy State and local governments should encourage financial institutions to offer products and services that meet the needs of lower-income communities, encouraging more people to participate in mainstream banking. Mainstream financial institutions should be encouraged to offer low-cost alternatives to payday loans and check cashing to begin developing relationships with clients unfamiliar or uncomfortable with them. Slide 35 Banking the Unbanked Bank On Mobilizing & Outreach: Engaging more banks and service providers Research: Collecting data during the first year Building Political Will: Working with other Treasurers to create similar programs across the state Slide 36 Banking the Unbanked Alternative Payday Loans Research: Profitability Model & Toolkit Building Political Will: Working with the State Treasurers office & Chicago Treasurers office to disseminate toolkit. Mobilization: Training Community Spokespersons Slide 37 Empowering Mississippians Developing an Asset-Building Agenda: Lessons From The Field Slide 38 Empowering Mississippians CPM Policy Agenda Policy Setting Process Challenges Lessons Learned Mississippi: Asset-Building Policy Slide 39 Empowering Mississippians Slide 40 Developing an Asset-Building Agenda: Lessons From The Field Slide 41 Empowering Mississippians Developing an Asset-Building Agenda: Lessons From The Field Slide 42 Moving Our Agenda Forward Policy Change Communicati ons Research Building Political Will Building Political Will Mobilization Slide 43 Engaging Members In Agenda Creation Formal Informal Surveys Focus Groups Leadership Meetings One-on-One Community Meetings Brown Bag Lunch Series Story Collection Slide 44 Political Environment in Illinois Democrats controlling the State General Assembly with Concentrated Power Republican State Treasurer Many New State Legislators in 2013 Difficult Budget Environment Slide 45 Moving Policy in this Environment Advocating for Small Changes with Limited Cost Example: Childrens Savings Accounts 529 Account Access Default Investment Type Exemption from Asset Test on TANF Requiring Data Collection on Applicants Acceptance of ITINs www.illinoisassetbuilding.org Slide 46 Moving Policy in this Environment Advocating for Small Changes with Limited Cost Example: Alternative Small Dollar Loans & Payday Reforms Zoning Legislation Linked Deposit Ordinances www.illinoisassetbuilding.org Slide 47 Moving Policy in this Environment Building a Case for Future Change Example: Automatic IRA Informational Hearing Retirement Savings Report Media Campaign www.illinoisassetbuilding.org Slide 48 Recognizing Opportunities Examples: Leveraging National Initiatives to Affect Change (i.e. GEAR UP CSA Pilot Program) Partnership with Department of Child Support Services www.illinoisassetbuilding.org Slide 49 Empowering Mississippians Developing an Asset-Building Agenda: Lessons From The Field Asset-Building Policy Development In Mississippi Slide 50 Empowering Mississippians Strategy for policy advancement Overcoming Obstacles Implementation Asset-Building Policy: The Process Slide 51 Empowering Mississippians Cooperative Statute Expansion Bill Payday Lending Legislation Educated constituency Powerful Lobbyist Civic Engagement Campaign Submit Bill in 2013 Legislative Session Policy Campaign Slide 52 Measuring Progress Made Toward Goal Meetings with Legislators Number of Policy Champions decision makers participating in events, co-sponsors Number of Advocates participating in a campaign Spokesperson trainings on the issues Media exposure Communication Hits downloads of a report, shares on social media, website traffic, etc. Administrative & Legislative Changes Slide 53 Empowering Mississippians Slide 54 www.illinoisassetbuilding.org Slide 55 Lucy Mullany IABG Coordinator Senior Policy Associate, Heartland Alliance 312-870-4939 lmullany@heartlandalliance.org Learn More: www.illinoisassetbuilding.orgwww.illinoisassetbuilding.org