Presentation on theme: "Using Lifelong Learning Accounts to Enhance Services for Incumbent Workers Research Showcase 2005 Amy Sherman CAEL Larinda."— Presentation transcript:
Using Lifelong Learning Accounts to Enhance Services for Incumbent Workers Research Showcase 2005 Amy Sherman CAEL email@example.com www.cael.org Larinda Meade Garret Oswald State of Maine, Department of Labor Attend the Workshop on Tuesday, July 12, 3:30-4:45 pm, in Rm 103A to hear more about LiLAs and the early experiences of Maine in implementing this new strategy.
What are LiLAs? Lifelong Learning Accounts (LiLAs) are individual asset accounts to finance lifelong learning so workers can upgrade their skills and knowledge to achieve career goals. Individual workers contribute to these accounts and are matched by employers and, in some cases, third parties. LiLAs give all workers access to lifelong learning. LiLA Components Include: ♦ Informed Choice ♦ Contributions from ♦ Voluntary Participation Individuals, Employers, ♦ Universal LiLA eligibility and potentially, ♦ Employer Based Third Parties ♦ Portable
Reasons for Participation Employees ♦ Pursue degree ♦ Obtain additional training and knowledge ♦ Continue education ♦ Learn new or different skill ♦ Increase earning potential Employers ♦ Way to provide affordable benefit ♦ Improve skill set of workers ♦ Improve employee morale ♦ Increase retention of employees
State of Maine Pilot Maine received an ETA grant to implement LiLAs statewide LiLAs will be offered to incumbent workers in at least two high growth industry sectors: Hospitality and IT Goal is to enhance mix of services to connect employers, incumbent workers, community organizations, educational providers, and new sources of revenue to finance skills upgrades, education, and training Project based on experiences of CAEL’s ongoing demonstration, but Maine focuses on One-Stops taking the lead role in establishing a state-based delivery system to support LiLAs Attend the Workshop on Tuesday, July 12, 3:30-4:45 pm, in Rm 103A, to learn more about the early experiences of this new strategy to help incumbent workers upgrade their skills and education.
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