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CAEL to launch LiLA demonstration
and policy work in San Francisco Chicago, IL-This Fall, The Council for Adult and Experiential Learning (CAEL) will invite San Francisco employers to participate in a new Lifelong Learning Account (LiLA) pilot project focused on serving the needs of minority and lower-income older workers. A LiLA account is an employer-matched, portable, worker-owned account used to finance career-related education and training. It is similar in concept to a 401(k): an employee who contributes to his or her LiLA account has their contribution matched by their employer. Ongoing LiLA demonstration projects by CAEL in Chicago, northeastern Indiana, San Francisco and by the state of Maine are helping older employees at all levels afford the education and training they want and need in order to retain work in a changing economy. The pilot project, funded by a $1.41 million grant from The Atlantic Philanthropies, will run for three years, following a six month planning period. Over the next twenty years, older individuals will be the fastest-growing age group in San Francisco: there will be a 90% increase in those aged 55 to 64, and a 63% increase in those 65 and older. If all of these individuals were to leave the workforce right at retirement age, it would be a major shock to the local economy. However, research by the Metlife Foundation and Civic Ventures has found that more than half of older workers plan to work into their retirement years. Many of these workers have great skills and experience, yet they may not wish to—nor may they be able to—do the same kind of work they did during their youth or middle-aged years. They may need to return to school or receive short-term training to gain new skills or credentials—either to help them stay current to meet the needs of a changing economy, or to help them do something new in an “encore career.” In this LiLA pilot, CAEL, in partnership with Jewish Vocational Service, is exploring how LiLAs can be helpful in supporting older workers wanting to explore new avenues for work. Other workers will be able to participate in the program, but CAEL will weight the selection process to ensure that 40 to 50% of the participants will be over age 55. Of that group, a majority will be minority and/or lower-income. The LiLA demonstration will also provide education and career advisors to help each participant establish an individual learning plan. The combined LiLA funds may be used to pay for a broad range of educational services consistent with the employee’s learning plan, including tuition and fees, books, supplies and other related items. About The Council for Adult and Experiential Learning About The Atlantic Philanthropies |
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for Adult and Experiential Learning (CAEL) |