Thursday, August 25, 2005
Nancy Condon (202) 728-8379
Sarah Bohn (202) 728-8988
NASD Foundation Funds Investor Education Training Program for Low-Income Young Adults Through PASE
Washington, D.C.— The NASD Investor Education Foundation has awarded a grant of $150,000 to the Partnership for After School Education (PASE) in New York to develop and implement investor education programs for thousands of low-income young adults in its network of youth-serving organizations in the New York metropolitan area and across the nation.
The project, entitled Your Retirement Starts Today! Helping Low-Income Young Adults Plan for their Financial Futures, will address personal finance topics and focus on retirement savings. The program will employ a two-tiered education approach: young adult employees of PASE member organizations will receive investor education training; they will then mentor youth served by those PASE organizations. PASE's collaborative network will reach more than 500,000 program participants and youth workers between the ages of 18 and 24.
"Young adults with limited incomes face particular challenges in setting aside funds to save for the future and knowing how to invest those funds," said Robert R. Glauber, Chairman of the NASD Investor Education Foundation. "By awarding this grant, the NASD Foundation is helping young adults and their families plan for and secure their financial future."
The program will integrate investor education into ongoing PASE training programs and the development and distribution of investor education resources through its youth-serving organizations and coalitions throughout the country. Materials created and adapted through this project will be written in English and Spanish.
"At PASE, we are always looking for new ways to provide young adults and youth-serving professionals the tools they need to succeed," explained Janet Kelley, PASE's Executive Director. "We are thrilled to be able to provide this kind of innovative, forward-thinking training, and to have the support of NASD Investor Education Foundation in this important endeavor."
Established in 2003, the NASD Investor Education Foundation supports innovative research and educational projects that give investors the tools they need to better understand the markets and the basic principles of saving and investing. The Foundation has awarded close to $2 million in total to organizations for educational programs and research projects targeting the underserved segments of the population. For details about grant programs and other new initiatives of the Foundation, visit www.nasdfoundation.org.
NASD is the leading private-sector provider of financial regulatory services, dedicated to investor protection and market integrity through effective and efficient regulation. NASD believes that understanding should precede investing - and that education is often the best form of investor protection. NASD's broad range of investor education programs include Investor Alerts, brochures and online resource guides on such critical topics as mutual fund class shares and 401(k) and college savings plans. This information is distributed through its Web site, www.nasd.com, printed materials and Investor Forums.