Expanding the Financial Stability of Persons with Disabilities Michael R. Roush, M.A. Manager, Financial Empowerment & Innovation National Disability Institute mroush@ndi-inc.org

Objectives for Today’s Webinar Understand the link between poverty and persons with disabilities Identify strategies for persons with disabilities to access to build their financial stability: Public Benefit Programs Employment Free Tax Preparation Financial Education Asset Development Programs Next Steps and Opportunities to learn more

Special Thank You

National Disability Institute A national research and development organization with the mission to promote income preservation and asset development for persons with disabilities. We are working to build a better economic future for Americans with disabilities.

The Americans with Disabilities Act of 1990 The Nation’s proper goals regarding individuals with disabilities are to assure equality of opportunity, full participation, independent living, and economic self-sufficiency for such individuals; 42 U.S.C. § 1201(a)(8) (2005)

Disability and Poverty People with disabilities are more likely to be unemployed and to live in poverty than any other single demographic group in the United States today. Public benefit programs for people with disabilities, especially Supplemental Security Income (SSI), are not aimed at increasing assets and independence for people with disabilities. More so then any other population on a fixed income, services and policies do not hold the expectation of economic self-sufficiency.

Barriers to Financial Stability Public attitudes Low expectations of and within the disability community. Current partnerships don’t support savings and building a financial future. Regulations discourage saving for the future; retirement, emergencies, etc.

Empowerment & Education are Key Individuals with disabilities can and do work and generate earned income. Individuals with disabilities can participate in local asset building opportunities. Individuals with disabilities can save and build assets. Individuals with disabilities are an underserved population of low wage workers.

Assets Produce Improved economic stability Increased long term planning Greater educational attainment Increased civic engagement

To a person with a disability, saving money and developing assets will produce choices that directly impact their quality of life, especially regarding: mental and physical health positive self-concept and level of community participation expectations and status with other community stakeholders

Make the Paradigm Shift Acknowledge that public benefits in exchange for a life of poverty is a bad deal for all. Individuals with disabilities live in poverty at higher rates than any other group in America. Discussing a movement from poverty to financial stability is a new conversation that may seem counter-intuitive at points but is the only way to ensure equal opportunity and full participation.

Making the shift Making the shift requires: New Focus New Tools and Strategies New Partnerships

Focus on Financial Stability Cross agency collaboration to remove policy and program barriers to self-sufficiency is key. Increase awareness and understanding of ways social insurance, employment, and asset development programs work together rather than in conflict. Empower persons with disabilities with new knowledge, choices, and supports. Shift employment from THE goal to ONE step towards financial stability.

New Tools and Strategies Increase use of Social Security Work Incentives Benefit from financial education and affordable financial services Set savings and asset goals Increase access and benefit from the Earned Income Tax Credit (EITC) and other favorable tax provisions Support individuals in utilizing an Individual Development Account (IDA) to achieve an asset goal through matched savings Increase access to health care through enrollment in Medicaid Buy-In programs

New Partnerships Mayor’s Offices United Way IRS FDIC EITC Coalitions Financial Institutions Microenterprise Lenders Home Ownership and Credit Counseling Programs AFI Grantees VR Agency Social Security Field Office WIPA Grantees DD Council Independent Living Centers Disability Service Providers Community Action Agencies

Five Key Strategies to Financial Stability GOAL Benefits Planning Employment Free Tax Preparation Financial Education Asset Development

Next Steps and Opportunities to Learn More Train the Trainer Events Training on NDIs Building Assets, Promoting Choice and Community Participation Training Curriculum. This curriculum was created by the National Disability Institute, Inc. to increase access to accurate information about asset building programs that are available for people with disabilities, their families and professionals. The training curriculum includes activities for participants/students to enhance their knowledge on building assets and how to apply the information that they learn from the training.

Training Modules Module 1: Overview and Introduction Module 2: Financial Literacy Education and Access to Mainstream Financial Services Module 3: Earned Income Tax Credit and Free Tax Preparation Assistance Module 4: Individual Development Accounts Module 5: Home and Business Ownership Module 6: Social Security Work Incentive Programs

Two Train the Trainer Sessions There will be two 2-day train the trainer sessions. February 4th & 5th and February 19th & 20th The trainings will provide an overview of the information, training materials, activities, strategies on how to embed curriculum in to your current program offerings and each attendee will present a portion of the modules on the second day of the training. There will be an application process and each session is limited to 40 attendees. Once trained, trainers are asked to host a minimum of one training within 6 weeks of completing the training. Registration fee for training: $75.00

Asset Development Summit The Statewide Asset Development Summit will bring together members of the asset building community and members of the disability community to begin the dialogue on how the two communities can work together to build the economic self-sufficiency for persons with developmental disabilities. Attendees of the Asset Development Summit will work together in small groups to discuss various probing questions that will assist in creating an action plan on how the two communities can work together to advance the economic self-sufficiency of persons with disabilities in the State of Missouri. Asset Development Summit will be April 23, 2014 in Jefferson City, Missouri.

Questions