The Department of the Treasury and the Internal Revenue Service released new guidance that is “designed to expand the use of income annuities in 401(k) plans.”
The nonprofit LIFE Foundation is joining with Scholastic this year for its Next Generation education program, which is designed to provide high school teachers with interactive tools to educate students about the importance of proper financial planning and risk management, and prepare them to make wise decisions for their future.
According to a release, the core focus of the program is personal responsibility in the context of financial management skills.
Teachers can access the content for the Next Generation program through the Scholastic website, which includes quizzes, lesson plans and videos focused on the value of personal financial responsibility, as well as information about how different kinds of insurance are part of personal financial planning. Through these resources, students will learn how to recognize and manage financial risks and gain skills that can serve them when they're confronted with important financial decisions in the future. The materials provided through Next Generation are free for teachers and students and meet national math and life skills high school standards.
This year, the program will offer new features including:
-New lesson plans Next Generation provides educators with a series of lesson plans and worksheets for each of the program's five themes: risk, life insurance, health insurance, disability insurance and financial planning. Each lesson plan includes objectives, educator resources, student worksheets, and an assessment method. In addition, Next Generation has a series of videos to complement the lessons and reinforce key messages.
-Enhanced teacher's guide An educator's guide that includes tips for implementing the lessons and answers to student worksheets.
-Student section - Designed for students, this section of the site includes quizzes, glossaries, family activities and video.
"Today, millions of Americans are underinsured and financially overextended. This is why it's important that financial literacy programs are incorporated into our schools and education curriculums so that the younger generation will have a better understanding about the decisions that can impact their financial futures," said Marvin Feldman, CEO of LIFE. "We are proud to work with Scholastic as we continue to grow and support our Next Generation education program, which is on track to reach millions more students and educators around the country."
"A core part of our mission is to help teachers explain the contemporary world to students," says Ann Amstutz Hayes, Senior Vice President of Scholastic National Partnerships. "Financial literacy is a very important life skill, and we are thrilled to be working with the LIFE Foundation to educate students on the importance of financial planning, and provide them with the skills they need to make informed decisions in the future."
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