Around the Institute

Savings in the Windy City

January 1, 2006  • Institute Contributor

In January 2006, the Initiative on Financial Security (IFS) traveled to the Institute’s birthplace to co-host a roundtable on savings innovations with Norman R. Bobins, President and CEO of LaSalle Bank and an IFS Advisory Board member. The event featured three members of the Illinois Congressional delegation—Rep. Judy Biggert (R) and Rep. Jesse Jackson Jr. (D), and Rep. Janice Schakowsky (D).

Chicago City Alderman Ed Burke, State Representative Julie Hamos, and Chicago Chief Financial Officer Dana Levenson were also in attendance. Prominent business and nonprofit leaders of Chicago joined them at the table, as did Aspen Institute Trustees Robert Malott and Claire Muñuna, and Matthew and Kay Bucksbaum, Chairman’s Society members of the Society of Fellows. The conversation focused on innovations that can improve the financial security of low- and moderate-income families, including employer involvement in savings, the promotion of financial literacy, and the Child Trust Fund, a new initiative in the United Kingdom that provides a savings and investment account to every newborn.