Targeted deposits in Pennsylvania’s Keystone Scholars Child Development Account program

Summary:
In 2018, Pennsylvania became the first state to legislate a statewide, automatic CDA for all children at birth. In 2021, Pennsylvania achieved another first: an automatic targeted deposit within the Keystone Scholars program to build wealth for financially vulnerable children. This brief examines two new targeted policy initiatives being piloted for Pennsylvania mothers who participate in WIC, the Special Supplemental Nutrition Program for Women, Infants, and Children. The Bright Future Booster and Milestone pilots represent important steps in expanding the Keystone Scholars program and serving as models for other states. Pennsylvania Treasury and the PA 529 make this CDA policy innovation possible through strong partnerships with the Pennsylvania Department of Health, numerous, engaged community organizations, and several committed private foundations.

Anne Dececco, Keystone Scholars program, Pennsylvania Treasury Department
Julie Peachey, Pennsylvania Treasury Department
Margaret M. Clancy, Washington University in St. Louis

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Citation:
DeCecco, A., Peachey, J., & Clancy, M. M. (2021, November). Targeted deposits in Pennsylvania’s Keystone Scholars Child Development Account program (CSD Policy Brief No. 21-36). Washington University, Center for Social Development. https://doi.org/10.7936/5qg9-4191

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