Brief: Allow working families to build savings accounts for use as a future down payment.

Description: Savings accounts designed for wealth building can be established and administered by either employers or public agencies. Accounts could potentially be targeted for use as a down payment on a home or other long term asset. Programs utilizing such accounts can employ the use of matching funds and other incentives that encourage routine or mandate deposits.

Examples:
Worker Income Security Program, Los Angeles, CA
For employees earning less than $28,000, participants are required to save at least $20 per month in their IDA; in return, they receive a 2:1 match on their investment up to $40 per month.