Department of Human Services

Food Stamp OnlinePolicy Manual

Exempt Resources

Revised:

15.13

INDIVIDUAL DEVELOPMENT ACCOUNT (IDA)

Food Stamp Table of Contents

1240-1-4-.05(13)

Families First participants enrolled in the IDA program can have a special savings account. Participantsí earnings deposited into an IDA account are matched by a not-for-profit or government agency. IDAs are operated by local non-profit organizations. These funds (savings, matching funds and interest) are disregarded in the Food Stamp Program as long as the money stays in the IDA. If the money is paid out directly to the individual or any interest is paid directly to the individual, the exclusion would not apply.

 

Individual contributions and interest payments to an IDA which receives matching funds from the Assets for Independence Act (AFIA) are excluded as a resource. IDAs under the AFIA provide federal funds to match the amount of earnings that low-income working individuals put into savings.

 

Glossary of Terms

Food Stamp Table of Contents