The legislation, a recommendation of the Senate's "Rhode to Work" action plan, will fill a gap in traditional education savings accounts in that they can be used for job training, the senator said in a release.
“We are focused on building a workforce with the right skills, right now. These innovative savings accounts help workers get the training they need to move from lower-skilled jobs into higher-skilled and better-paying positions. LiLAs help to build a stronger overall workforce that better meets the demands of Rhode Island employers,” said Senator Da Ponte.
The legislation, 2014-S-2220, establishes LiLAs through a Lifelong Learning Program to be created within the Workforce Investment Board.
The legislation encourages partnerships with employers, educational and training institutions, and requires marketing to various geographic areas and industry sectors, low-wage workers, their employers, and within the community.
LiLAs are owned by the employee, and retained by the employee when they leave any particular company. LiLAs help workers refresh current skills, learn new skills, and keep pace with the ever-changing demands of the economy.