infant sleeping (Photo: Shutterstock)

(Bloomberg) — New York City and Connecticut are gifting publicly-financed savings bonds to children through two programs aimed at stemming racial income inequality in states with the worst wealth gaps in the U.S.

Connecticut will invest $600 million in its “baby bonds” program over the next 12 years, setting aside a $3,200 bond each for about 16,000 Medicaid-eligible children annually.

Complete your profile to continue reading and get FREE access to, part of your ALM digital membership.

Your access to unlimited content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and events.
  • Access to other award-winning ALM websites including and

Already have an account?



Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join now!

  • Unlimited access to - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including and
  • Exclusive discounts on and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2023 ALM Global, LLC. All Rights Reserved.