Additional Authors

Clancy, Margaret; Huang, Jin; Sherraden, Michael ;

Publication Date

9-28-2015

Summary

This brief presents the latest results from SEED for Oklahoma Kids, a pathbreaking randomized experiment to test the effects of automatic, universal, and progressive Child Development Accounts (CDAs) in a statewide sample. Key features of the CDA are automatic opening of a 529 account and an automatic initial $1,000 deposit. The results show that CDAs with automatic deposits invested in a 529 plan may enable children to accumulate meaningful levels of assets over time, even if their families do not contribute to the accounts. As the brief indicates, the new results also have key implications for public policy.

Document Type

Research Brief

Category

Financial Inclusion

Subarea

Asset Building

Original Citation

Beverly, S. G., Clancy, M. M., Huang, J., & Sherraden, M. (2015, October). The SEED for Oklahoma Kids Child Development Account experiment: Accounts, assets, earnings, and savings (CSD Research Brief No. 15-29). St. Louis, MO: Washington University, Center for Social Development.

DOI:

https://doi.org/10.7936/K7HT2NV0

Project

SEED for Oklahoma Kids

Keywords

SEED OK, asset accumulation, asset building, asset holding, asset ownership, assets, CDA, child development account, children, college savings, college savings plan, experiment, financial incentives, inclusion, inclusive policy, policy design, policy, randomized controlled trial, research, research summary, saving, savings, social inclusion, United States, well-being

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