California Launches $4.75M Guaranteed Income Pilot for Low-Income Seniors

A multi-million dollar guaranteed income pilot program is set to launch in California after receiving approval from both the executive and legislative branches. The initiative, aimed at supporting low-income citizens, will specifically target individuals aged 60 and above who are eligible for or receiving government benefits. The program, tentatively named “Guaranteed Income Older Adults,” is part of California’s budget for the 2024/2025 fiscal year, with a total funding of $4.75 million.

The California Department of Social Services (CDSS) has outlined several key aspects of the program. Community listening sessions held last year provided valuable insights, leading to recommendations such as a minimum payment of $500 per month for at least six months. The minimum number of participants recommended for the pilot program is 200, with participants having the flexibility to choose between recurring payments, a lump sum, or a combination of both.

As the program prepares for its rollout, the CDSS is actively seeking a public or private nonprofit organization to manage the project over a three and a half year period. Applications for this role must be submitted by April 9th, with the selected organization to be announced on June 25th. This initiative represents a significant step towards providing financial stability for older adults in the state, addressing the unique challenges faced by this demographic.

The program is designed to help citizens living in the low-income bracket in California. The CDSS says the total funding for the pilot program, which is catered for in California’s budget for the 2024/2025 fiscal year, will be $4.75 million. The program will target individuals who are 60 years of age or older residing in the state, and who are either eligible for or receiving a means-tested benefit of some kind from the government.

This initiative is a response to the growing need for financial support among older adults, particularly those who are living on fixed incomes. By providing a guaranteed income, the program aims to help these individuals meet their basic needs and improve their overall quality of life. The program is also expected to have a positive impact on the local economy, as recipients are likely to spend the additional income on goods and services in their communities.

The CDSS is now seeking a public or private nonprofit organization to run the project for three and a half years. Those applications must be submitted by April 9th and the chosen application will be announced on June 25th. This initiative represents a significant step towards providing financial stability for older adults in the state, addressing the unique challenges faced by this demographic.