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ExpectMore.govExpectMore.gov home pageEXPECT FEDERAL PROGRAMS TO PERFORM WELL, AND BETTER EVERY YEAR.
 
Program Assessment

Program

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Assets for Independence

The program supports grantees that encourage low-income families to save earnings in Individual Development Accounts (IDAs). IDAs are matched savings accounts that help low-income and low-wealth families accumulate savings for investments in long-term economic assets such as a house, higher education or a small business.

Rating

What This Rating Means

PERFORMING
Adequate

This rating describes a program that needs to set more ambitious goals, achieve better results, improve accountability or strengthen its management practices.
  • The program addresses the specific problem of asset poverty. Research indicates that a quarter of American households are "asset poor," meaning families have insufficient financial resources to support them at the poverty level for three months (during a suspension of income).
  • The program design includes evaluation. A national multi-year impact evaluation is being implemented to determine whether this policy helps families become economically self-sufficient.
  • The program lacked strong grantee-supported performance goals. The program has established a working group ofgrantees to develop new performance measures and performance indicators.

Improvement Plan

About Improvement Plans

We are taking the following actions to improve the performance of the program:

  • Developing grantee-supported performance outcome measures with targets and performance indicators that will be useful for improving efficiencies or cost effectiveness.
  • Identifying cost-neutral ways, through legislation, regulation and administrative action, to improve the effectiveness and efficiency of the program.
  • Supporting efforts to reauthorize the program with legislative proposals for program improvement.

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