PITTSFIELD, Mass. — A study on establishing a "baby bonds" program will be released on Monday during a virtual event beginning at noon.
State Treasurer Deborah Goldberg convened a Baby Bonds Task Force earlier this year to explore the creation of the bonds in Massachusetts.
The release of the findings is open to the public;
register here.
Baby bonds is a term used to describe trust funds set up by governments intended to build assets for low-to-moderate income residents and narrow the racial wealth gap. These trust funds are established at birth and grow until recipients reach adulthood. Account holders can then access their funds for asset-building activities such as post-secondary education, homebuying, or investing in a business.
Berkshire United Way Community Impact Director Katherine von Haefen served on the task force
"Berkshire United Way works to ensure economic stability for our most vulnerable families, and this program will help provide a financial foundation for the youngest members of these families," said von Haefen in a statement.
The task force will release its findings report detailing its recommendations on establishing an at-birth baby bonds program and provide an overview of its findings. Goldberg will offer opening remarks before panelists dive into the highlights of the findings report.
The Baby Bonds Task Force is a diverse cross-sector collaboration with members who have work, research, or volunteer experience in racial wealth equity, child welfare, public policy, community engagement, and asset-building initiatives. The task force also serves as an instrument to engage with impacted communities to allow community participation in the design of the program.
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