Publication Date
10-5-2020
Summary
In 2018 and 2019, Pennsylvania, Nebraska, Illinois, and California enacted laws creating automatic, universal, at-birth CDA policies, and in 2020, the COVID-19 pandemic halted the progress of CDA bills in Missouri. Several states previously adopted CDA policies by administrative rule. This Policy Summary presents insights from four state treasurers based on their direct experience developing statewide CDA policy through legislation.
On July 16, 2020, the treasurers and other professionals gathered virtually for “All Children Can Reach Their Potential: A CDA Conference.” In a panel discussion moderated by Missouri State Treasurer Fitzpatrick, Pennsylvania State Treasurer Joe Torsella, Nebraska State Treasurer John Murante, and Illinois State Treasurer Michael Frerichs discussed the process of implementing a statewide CDA policy: identifying the guiding principles, crafting funding mechanisms, working with state legislators to secure passage, and raising awareness of the enacted policies. The state treasurers also discussed policy elements that facilitate effective implementation and research that informed each of these statewide CDA policies.
Document Type
Policy Report
Category
Financial Inclusion
Subarea
Asset Building
Original Citation
Leiker, C., Clancy, M. M., & Sherraden, M. (2020, October). Insights from state treasurers: Developing and implementing statewide Child Development Account policies (CSD Policy Summary No. 20-19). St. Louis, MO: Washington University, Center for Social Development.
Project
SEED for Oklahoma Kids
Keywords
2020 ; 529 college savings plan ; child development accounts (CDA) ; policy ; SEED for Oklahoma Kids (SEED OK) ; state policy ;
Recommended Citation
Leiker, C., Clancy, M. M., & Sherraden, M. (2020, October). Insights from state treasurers: Developing and implementing statewide Child Development Account policies (CSD Policy Summary No. 20-19). St. Louis, MO: Washington University, Center for Social Development.