ETA News Release: [Friday, Feb. 04, 2005]
Contact Name: Mike Volpe
Phone Number: 202-693-3984 or 202-693-4676
Seven States Approved to Embark on Personal Reemployment Account Pilot Program
WASHINGTON-The U.S. Department of Labor today announced that the seven states participating in the Personal Reemployment Account (PRA) pilot program have had their plans approved and will soon begin their respective projects. At least 2200 workers are expected to take part.
"The President wants workers transitioning into new careers to have the flexibility to decide what job training options work best for them," said Assistant Secretary of Labor for Employment and Training Emily Stover DeRocco. "Personal Reemployment Accounts will empower workers to select their own training and career paths and equip them with the skills to compete in the global economy."
PRAs are personally managed funds that eligible unemployed workers use to purchase intensive career, job training and supportive services and products from public One-Stop Career Centers, the marketplace, or a combination of the two.
All seven states will offer PRAs of $3,000 and will exercise 60%/40% bonus payouts from funds left over in a PRA when a person becomes employed quickly and then retains employment for six months.
Additionally, Texas will grant a higher bonus amount to any PRA jobseeker who becomes employed by or before the 10th week of unemployment compensation. Minnesota will determine varying bonus amounts based, in part, on weekly UI benefit amounts.
West Virginia will implement PRAs statewide in contrast to Mississippi, Florida, Idaho, and Montana, each of which has identified local areas within their states to test and compare. In Mississippi, comparisons will take place in Tunica and Harrison Counties. Florida will test PRAs in 12 counties including Calhoun, Holmes, Liberty, Jackson, Washington, Bay, Gulf, Franklin, Leon, Gadsden, Wakulla and Pinellas. Idaho officials will compile results in Coeur d'Alene and Idaho Falls. And Montana will test PRAs in Cut Bank, Lewiston, Belgrade and Butte.
Results from the PRA pilots are due to be filed quarterly with the U.S. Department of Labor's Employment and Training Administration.
U.S. Labor Department (DOL) releases are accessible on the Internet at www.dol.gov. The information in this news release will be made available in alternate format upon request (large print, Braille, audio tape or disc) from the COAST office. Please specify which news release when placing your request. Call (202) 693-7765 or TTY (202) 693-7755. DOL is committed to providing America's employers and employees with easy access to understandable information on how to comply with its laws and regulations. For more information, please visit www.dol.gov/compliance.
