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| October 15, 2008 DOL Home > Newsroom > News Releases |  |
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News Release OPA News Release: [10/29/2004] U.S. Secretary of Labor Elaine L. Chao Announces Seven States WASHINGTON —U.S. Secretary of Labor Elaine L. Chao today announced the seven states selected for a nearly $7.9 million demonstration project to allow unemployed workers to use Personal Reemployment Accounts (PRAs) to find new jobs. The seven states selected to test the effectiveness of PRAs are Florida, Idaho, Minnesota, Mississippi, Montana, Texas and West Virginia. “Unemployed and dislocated workers will be empowered by Personal Reemployment Accounts to select their own training and career paths,” said U.S. Labor Secretary Elaine L. Chao. “It's part of the President's commitment to building an ownership society. The Bush Administration trusts individual workers to know what training courses to choose and to decide what job options would most help them.” Personal Reemployment Accounts are personally managed funds that eligible unemployed workers use to purchase job training and supportive services and products from either the marketplace or public One-Stop Career Centers. Participating states will be able to offer individual accounts of up to $3,000 to unemployed workers most likely to exhaust their Unemployment Insurance benefits before finding employment. Personal Reemployment Accounts are additional benefits and will not affect traditional UI benefits. States involved in the demonstration project will also offer a reemployment bonus feature. Workers who find employment within 13 weeks of receiving a Personal Reemployment Account will receive a bonus payment of 60 percent at the time of employment and 40 percent after staying employed for six months. For more information on Personal Reemployment Accounts, please visit: http://www.doleta.gov/PRA_factsheet.cfm . # # # _________________________________________________________________ |
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