Elder Economic Security Initiative's™ Genesis and Goals

The Elder Economic Security Initiative (EESI) is a national effort to build economic security for elders through organizing, advocacy and research. The EESI seeks to enable policy makers, aging advocates and others to develop policies and programs that help seniors age with dignity while promoting their economic security. Wider Opportunities for Women (WOW) is the national convener with local partners in five pilot states: California, Illinois, Massachusetts, Pennsylvania, and Wisconsin. The Atlantic Philanthropies has funded an expansion to reach 20 states in the coming years. A key tool which undergirds the Initiative is the Elder Economic Security Standard (Elder Standard). The Elder Standard is a measure of income required to meet basic expenses to age in place - including their housing, food, and health care costs while living independently in the community. It is calibrated to household size and home ownership/rental costs, county of residence, and health status. This presentation provides the historical background about how the EESI grew from the experience of a similar initiative for families, the Family Self Sufficiency Standard. It details the limitations of the commonly used Federal Poverty Guideline as a measure of income adequacy for older adults, and describes the coalition that has formed nationally to develop the Elder Economic Security Standard and use it as a tool to promote adequate resources for older Americans. The initial launch of the Elder Standard in Massachusetts is summarized to identify key lessons learned about the usefulness of this new measure.