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Asset Building Financial Inclusion Working Paper

Match Rates, Individual Development Accounts, and Saving by the Poor

By CSD • July 1, 2004October 27, 2021

Individual Development Accounts (IDAs) provide low-income people with matches for savings used for home purchase, post-secondary education, or microenterprise. Match rates for the 2,350 IDA participants in the American Dream Demonstration (ADD) were typically 1:1 or 2:1 but ranged as high as 7:1. This paper looks at how these match rates were related with the likelihood of saving something and with the level of savings. The model controls for a number of confounding factors often ignored in similar studies of match rates in 401(k) plans. For IDAs in ADD, higher match rates were generally associated with a greater likelihood of saving something and—for participants who saved something—a lower level of IDA savings.

Project: American Dream Policy Demonstration (ADD)

Citation

Schreiner, M. (2004). Match rates, Individual Development Accounts, and saving by the poor (CSD Working Paper No. 04-02). St. Louis, MO: Washington University, Center for Social Development.

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2004American Dream Policy Demonstration (ADD)Individual Development Account (IDA)Mark Schreiner

Center for Social Development

Washington University in St. Louis

MSC 1196-251-46

One Brookings Drive

St. Louis, MO 63130

314-935-7433

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