Good jobs and long-term employability—that’s what every American worker needs. More than ever, our knowledge-based economy requires higher skills, recognized credentials and postsecondary degrees geared to address labor market demands. But the high cost of education and training limits access for millions who could otherwise improve their earnings and careers.
Lifelong Learning Accounts (LiLAs) are employer-matched, portable individual savings accounts used to finance education and training—like a 401(k) for skill building and career advancement. With LiLAs, workers can upgrade their skills and knowledge to meet the needs of business and industry while achieving their career goals.
CAEL's goal is to make LiLAs available to those who need them. The vision is for any individual worker to be able to contribute to a LiLA account and be matched by his/her employer and, in some cases, third parties. The combined contributions could then be used for education and training and related activities for these incumbent workers. LiLAs are intended to supplement, not replace, existing employer-supported tuition assistance programs.
LiLAs are good for business and for workers. LiLAs differ from traditional job training programs in that they create systemic change in the way individuals can invest in their own futures, while leveraging employer involvement and investment.
For more information about LiLAs, please contact Amy Sherman at CAEL, asherman@cael.org,
or visit the LiLA Quick Links located to your left.