Benefits February 26, 2003

Re-Employment Accounts Bill Goes to House Committee

February 26, 2003 (PLANSPONSOR.com) - A US House subcommittee has green lighted a bill that would create personal re-employment accounts of up to $3,000 for jobless Americans.

Reported by

Fred Schneyer

Approval by the Education & the Workforce Subcommittee on 21st Century Competitiveness sent HR 444 onto the full Education and the Workforce Committee, according to an announcement.

“I believe the Back to Work Incentive Act will prove to be of great assistance to those who have had the misfortune of finding themselves unemployed during these times of economic recovery,” Lead sponsor Representative Jon Porter (R-Nevada) said in a statement.

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Eligible individuals may use the Back to Work accounts to purchase job training and services such child care, transportation services, and housing assistance. Recipients will be able to keep the balance of the account as a cash re-employment bonus if they become re-employed within 13 weeks.