Recently, we observed the 28th anniversary of the signing of the Americans with Disabilities Act, known as the ADA, which helped recognize and protect the rights of our 56 million fellow citizens with disabilities.
Since the passage of the ADA in 1990, we’ve seen enormous advances. Street corners are more accessible for those who use wheelchairs. Television is captioned for deaf and hard-of-hearing people. Many internet videos and photographs have verbal descriptions so those who are blind can know the visual content as well as the written content.
Despite these positive developments, people with disabilities in our country are still extraordinarily underemployed and more likely to be out of the workforce. According to the annual American Community Survey, the poverty rate for people with disabilities is almost three times that of the general public.
To change these statistics, we need to expand upon the great strides that have been made in the way we think about, discuss and support meaningful employment for Americans with disabilities.
This year’s Treasury Management Training Symposium in Orlando was our largest conference in history. People traveled from all over the nation to share best practices and learn more about what you can do to best serve your constituents. It is in that vein that we are pleased to announce that we will be “re-booting” four of those sessions via our NASTCast TMTS 2.0 Summer Webinar Series.
Throughout August you can catch a session from each track. Whether you missed the session, want to see it again, ask additional questions, or simply weren’t able to join us in Orlando, we are going to bring the best of the best directly to you.
Starting today (August 1st), we will be offering webinars every Wednesday afternoon at 2:00pm ET for your viewing pleasure. Don’t forget to save these dates to your calendar now and feel free to invite your colleagues to participate in the discussion as well! Please see below for the schedule of the TMTS 2.0 webinars and their registration links:
August 1st: Imagine the 529 of Tomorrow: Brought to you by the College Savings Plans Track, participate in a discussion about how two 529 programs marketed their recent transformations and what they learned from the process. View Webinar Recording.
August 8th: Evaluating Outreach and Earned Media: The Unclaimed Property Programs Track presents a session to learn how to track and measure the effectiveness and impact of unclaimed property outreach efforts to stay compelling and relevant. Register here.
August 15th: FinTech: How to Apply New Technology and Gamification to Financial Empowerment: From the Financial Education & Empowerment Track, listen in on a fascinating discussion about innovative applications in the fintech space and how gamification, predictive behavioral analytics, and “learning” apps can help users save, invest, and make better financial decisions. Register here.
August 22nd: The Global Economic Update: Brought to you by the Banking, Cash Management & Investment and State Deb Management Tracks, listen in on a discussion about how the global economic climate will impact the state’s fiduciary responsibilities and the tax-exempt & taxable rates of municipal bonds. Register here.
$21.53 – $37.46 Hourly
$44,782 – $77,917 Annually
This position is a Pay Band 80
SPRINGDALE — Young children served by the Economic Opportunity Agency of Washington County can get a jump on paying for college thanks to a grant from the state treasurer’s office.
Treasurer Dennis Milligan held a news conference Wednesday to present agency officials a $30,000 check, money that will be used to seed Arkansas 529 Gift Plans for those enrolled in agency programs including Head Start, Early Head Start and Children’s House.
Families signing up for a 529 Gift Plan through the agency will receive an initial gift of $100 for each child’s account, said Delia Farmer, the agency’s executive director.
Research shows that a child with a college savings account is six times more likely to attend college than a child without one, Farmer said.
“So today, we are planting seeds that college is possible,” she said.
The 529 plan allows parents to save for their child’s post-secondary education while receiving a tax deduction of up to $10,000 for married couples and up to $5,000 for individuals. It’s administered by Milligan’s office. There are 37,203 accounts in Arkansas, according to Stacy Peterson, Milligan’s communications director.
The $30,000 grant isn’t taxpayer money. A percentage of the money from plan contributors goes toward administering and marketing the plan, and a board determines how to spend that money, Milligan said.
Milligan said he believes in the importance of advancing one’s education beyond high school. Money accumulated through a 529 account may be used to pay for a technical, undergraduate or graduate education program.
“It’s my hope that every student in Arkansas has the opportunity to further their education regardless of their family’s financial background,” he said.
The Economic Opportunity Agency strives to help low-income families succeed economically and socially in Northwest Arkansas. The agency typically serves more than 300 children ages 6 weeks to 6 years old annually.
“A lot of our families don’t realize that college is possible for their children, because of the situation they’re living in,” Farmer said.
The agency held informational sessions for parents about the 529 plan earlier this year. Thirty people have signed up for an account so far, but Farmer expects more to sign up once the agency’s programs start up for the new school year.
A 529 account can be opened with as little as $25.
Milligan was elected state treasurer in 2014. He is running for re-election this year against Ashley Ewald, a Libertarian from Uniontown.
Ewald said the 529 plan sounds like a great program.
“I really can’t criticize that at all. It’s definitely something I would keep going,” she said.
The overall purpose of this IFB is to provide information to bidders interested in submitting bids to meet the State’s needs for energy performance lease-purchase financing for up to $12,224,708.35. The financing is expected to close September 19, 2018.
Bids are due by 11:00 a.m. on 08/21/2018
We are seeking an Unclaimed Property Administrator to operate the Unclaimed Property section including claims, outreach, holder reporting, audits and liquidation of properties in accordance with statutes. The Unclaimed Property Administrator will oversee and develop strategic goals and planning procedures for administering all phases of the operation. This position will assist in contracting with service providers for audits, auctions of property, management of the program’s portfolio of securities and the sale of securities as allowed by law.
Example of the duties and requirements include:
For Defined Benefit Pension (DB) Plans:
For Defined Contribution (DC) Plans:
The Senate Special Committee on Aging recently announced that they would be holding a hearing to discuss the growing population of aging caregivers for individuals with disabilities. As the committee considers ways to protect our nation’s most vulnerable population, it is important to highlight the impact of a program that we know is already making a huge difference for families of individuals with disabilities: The Achieving a Better Life Experience Act.
Passed in 2014, this bipartisan bill was designed to give eligible individuals with disabilities and their families greater capacity to cover the cost of expenses such as medical and dental care, education, housing and transportation. It is clear that the bill has accomplished this goal.
ABLE programs have empowered Americans with disabilities in many ways, notably by providing access to tax-free savings accounts to ease financial concerns. The funds in these accounts can be used for disability-related expenses that assist the beneficiary in affording the additional costs that come with having a disability and providing for greater independence and quality of life.
The impact of such a program is significant and immediate. The parents of children with disabilities who utilize the program, for example, now have the peace of mind that their child has an extra layer of protection should the parent no longer be able to care for them.
Before the ABLE Act, Americans with disabilities receiving federal means-tested SSI benefits could not have more than $2,000 in savings accounts or they would lose their monthly SSI benefit. This prevented many individuals from achieving financial independence because higher savings threatened crucial federal benefits, often trapping them in a cycle of poverty. For example, a promotion at work and raise in salary could lead to the loss of one’s SSI benefits. ABLE gives qualified individuals the opportunity to save up to $100,000 in a tax-advantaged account, thereby allowing workforce participation and cementing a more secure future.
Thousands of individuals with disabilities and their loved ones have recognized the benefits of ABLE programs and opened more than 20,000 ABLE accounts nationwide. Together, participants have saved almost $100 million in tax-advantaged funds. The early data from this fiscal quarter indicates an increase of 15 to 20 percent in both the number of accounts and assets under management. Those who were previously prevented from having more than $2,000 to their name are now able to use money from this account to pay for qualified expenses, including transportation, services, education and other costs associated with a living with a disability.
ABLE Programs, which have now been launched in Richard Burr (R-NC), Senate Aging Committee Ranking Member Bob Casey (D-PA), and many other leaders in Congress, in recognizing the life-changing benefits that ABLE programs provide and ask that they continue to support ABLE as it strengthens and expands., are perfect examples of what can happen when leading policymakers come together with solutions for vulnerable populations. We hope members will follow the lead of Senator
These programs have fundamentally improved the well-being of the families of people with disabilities. As more Americans utilize ABLE accounts, we should consider ways to strengthen and widen the scope of these programs.
Congress should build upon the robust and successful foundation laid by the ABLE Act, by giving more Americans with disabilities access to this valuable financial tool and providing account holders with more flexibility in how they manage their accounts. It is our hope that the Senate committee will consider the support that ABLE programs have provided for Americans with disabilities and the caregivers who sacrifice for their loved ones every day.
In its first three years, ABLE has enriched the lives of thousands of deserving Americans. Beginning with this hearing, the Senate Special Committee now has a chance to support this program even further – and, by doing so, ensure that it will enrich many more lives for decades to come.
Michael Frerichs, Treasurer of Illinois, serves as Co-Chair of the ABLE Committee at the National Association of State Treasurers.
The Office of the Illinois State Treasurer (“Treasurer”) is issuing this Request for Proposals (“RFP”) for Custody and Safekeeping Services for Program Deposits (“Services”). Financial institutions that submit Proposals (the “Respondent”) shall submit their Proposals by 1:00 p.m. CT on August 10, 2018.
The Treasurer seeks a Contractor(s) that will provide quality custody and safekeeping services covering the pledge of Property by Illinois depositories to secure state deposits. The winning Respondent(s) (“Contractor(s)”) must be authorized to do business in Illinois as an Illinois bank or a national bank with a presence in Illinois. In addition, the Contractor(s) must be a member of the Federal Reserve System and Depository Trust Company, have access to all services as a member bank, and qualify as a depository for public funds. At the time the Contractor(s) submits their Proposal, or prior to that time, if required by law, the Contractor(s) must have all required licenses, bonding, facilities, equipment, and trained personnel necessary to perform the work specified in this RFP. Finally, the Contractor(s) must have a minimum of ten (10) years of experience performing the services being sought by this RFP.
The Contractor(s) shall enter into a contract with the Treasurer (“Agreement”) for an initial term of four (4) years. Upon expiration of this term, the Treasurer may elect to extend the Agreement for a period of time agreed upon by the parties, not to exceed a total of ten (10) years, including the initial four (4) years.
The State of Nevada (the “State”) Office of the Treasurer (the “Office”) is soliciting qualified firms interested in providing Municipal Advisor (“MA”) services in connection with the issuance of bonds, notes, or other securities on an as needed basis. The State no longer enters into tri-party agreements. Therefore, any joint proposal must list the contracting firm as the Respondent and the other firm as a subcontractor.
The State is an issuer of tax-exempt and taxable general obligation bonds, revenue bonds, certificates of participation, and other securities.
All debt must be authorized by specific legislation providing for the specific programs or projects to be financed. Such legislation provides the Board of Finance (the “Board”) with the authority to approve and authorize the sale and issuance of securities.
Pursuant to Nevada Revised Statutes (NRS) 226.110(10), the Office, upon direction of the Board, is responsible for the issuance of any obligation authorized on the behalf and in the name of the State, except as otherwise provided in NRS 538.206 (Colorado River Commission Bond Issuance), and except for those obligations issued pursuant to chapter 319 of NRS (Housing Bonds), and NRS 349.400 to 349.987 (Revenue Bonds for Industrial Development) inclusive.
Historically, securities have been issued to fund programs/projects such as, but not limited to:
* Capital Improvements (Biennial Legislative Act)
* Colorado River Commission (NRS 538.166)
* Economic Development (NRS 360.991)
* Highway Revenue (Motor Vehicle Fuel Tax) bonds (NRS 408.273)
* Historic Preservation Grants (NRS 383.530)
* Lease-Purchase Agreements (NRS 353.500)
* Marlette Lake Water System (NRS 331.160)
* Municipal Bond Bank (NRS 350A)
* Open Space Bonds (2001 Assembly Bill 9)
* Safe Drinking Water State Revolving Fund (NRS 445A.290)
* Slot Tax Bonds (NRS 463.385)
* Tahoe Environmental Improvement (NRS 321.596)
* Unemployment Compensation (NRS 612.6122)
* Water Pollution Control State Revolving Fund (NRS 445A.155)
* Water System Grants (NRS 349.986)
Generally, the State issues debt on a competitive sale basis, but negotiated or private placement sales may be conducted as circumstances warrant. Debt issuances generally range between $5 million and $300 million, may include multiple series, and are usually comprised of the following five types of securities: (1) general obligation; (2) general obligation with the pledge of a specific revenue source; (3) revenue; (4) appropriation based certificates of participation
secured by the commitment of the State to pay debt service, subject to annual appropriation by the Legislature; or (5) refundings of prior issuances.
For each debt issuance, the Office retains separate law firms to act as bond counsel and disclosure counsel and retains the services of a MA.
The MA works closely with the offices of the Governor, Treasurer, Controller, Attorney General and other State departments and agencies; the State’s bond and disclosure counsels; registrars/paying agents; select underwriting teams; bond insurers; and municipalities.
The MA advises and assists in developing the legal and structural framework of the issuance in compliance with applicable federal, state, and municipal laws and regulations; assists bond and disclosure counsel in drafting the various documents necessary or appropriate for the authorization, issuance, sale and delivery of the securities, including but not limited to term sheets, resolutions, closing certificates, preliminary and final offering documents; assists the Office with rating and investor presentation, marketing of the securities, and keeps the Office informed of rulings, findings, and changes in law which impact the issuance and post-issuance compliance of State securities.
Occasionally, the MA may be asked to advise the Governor and/or his staff and the State Legislature on debt-related issues, assist in reviewing and drafting debt-related legislation, assist with IRS audits, assist in reviewing and/or drafting post-issuance policies and procedures, and conduct post-issuance compliance trainings.
The Office intends this solicitation process to result in the selection of several qualified firms for inclusion in a MA Pool (“Pool”). The size and composition of the Pool will be determined as part of the selection process.
The State may award up to 3 or more contracts in conjunction with this solicitation, as determined in the best interests of the State. The resulting contract(s) shall be for a contract term of approximately four years, anticipated to begin on or about September 1, 2018.