California Early Wealth Accounts System Plan
The ScholarShare Investment Board, the California Child Savings Account Coalition, and the CalKIDS Institute at UCLA are excited to share the California Early Wealth Accounts System (CEWAS) Plan.
This ambitious plan is the result of a collaborative, statewide effort—funded by The BlackRock Foundation and guided by the CEWAS Steering Committee—to chart a bold path forward for early wealth-building in California. It offers a shared roadmap for aligning and strengthening CalKIDS, local Child Savings Account (CSA) programs and the forthcoming HOPE Child Trust Account initiative. We will expand our efforts to include Trump Accounts when those become available. Our goal is to ensure that all young people in California—especially those facing the greatest barriers to opportunity—can fully benefit from every wealth-building resource available to support their future.
The CEWAS Plan reflects the experience and insight of practitioners, policymakers, funders, families and researchers across the state and the nation. It outlines comprehensive strategies across five key areas—Partnerships, Communications, Building Account Balances, Data, and Technology—and proposes new public and philanthropic investments to expand capacity, advance equity and create a more unified system of early wealth-building supports for California’s children.
These investments will:
- Increase awareness, claiming, and use of CalKIDS, HOPE and local CSA accounts.
- Reduce the college enrollment gap for underrepresented students.
- Ensure more children grow up with financial assets for education and adulthood.
We are proud to report that the CEWAS Plan and the CEWAS Summit, held on April 9 in Sacramento and hosted by the State Treasurer’s Office, have already led to important successes for early wealth-building in California. The state’s newly adopted FY 2025–26 budget includes:
- CalKIDS/ScholarShare Investment Board received $566,000 in ongoing General Fund support to add three new staff positions—significantly expanding outreach and implementation capacity.
- Local education agencies must now inform students about CalKIDS when communicating about the FAFSA, helping more students claim and use their funds for college.
- A successful data-sharing pilot with Riverside County Office of Education has been extended through 2029–30, with San Diego Unified School District joining this important work.
- $6.1 million was reappropriated to ensure foster youth receive their additional $500 CalKIDS deposit, advancing implementation of AB 2056.
- The state maintained its $15 million annual investment in the HOPE Child Trust Account, even as some past funds were pulled back.
We extend our sincere thanks to California Child Savings Account Coalition for their leadership in the CEWAS Plan development, to the BlackRock Foundation for their generous funding and support, and to the Child Savings Account and Child Early Wealth Accounts community for their ongoing engagement and contributions to this important initiative.
Together, we are building brighter futures for California’s children—starting with wealth and opportunity from day one.
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The California Child Savings Account (CSA) Coalition led a collaborative strategic planning process funded by The BlackRock Foundation to develop the California Early Wealth Accounts System (CEWAS) Plan. The UCLA CalKIDS Institute is a partner in this process. Our mission is to bring together leaders from the public, nonprofit, and philanthropic sectors to expand awareness, access, and engagement with CalKIDS, local CSA programs, and HOPE Accounts. We are committed to ensuring that all young Californians—particularly those from under-resourced communities—can fully benefit from the wealth-building opportunities available to them.
The CEWAS Plan will offer a comprehensive, strategic roadmap for those working in asset building and financial wellness, with a dedicated focus on the well-being and future prosperity of California’s children. It provides a path forward for advancing CalKIDS, local CSA programs, and HOPE Accounts, with targeted strategies in the areas of Partnerships, Communications, Building Account Balances, and Data & Technology.
The Preliminary CEWAS Plan will be presented at the CEWAS Summit on April 9 in Sacramento. We invite broad input through April 30 by clicking here or scanning the QR code below. A final version of the CEWAS Plan will be released in May 2025.
We extend our sincere thanks to California CSA Coalition for their leadership in the CEWAS Plan development, to the BlackRock Foundation for their generous funding and support, and to the Child Savings Account and Child Early Wealth Accounts community for their ongoing engagement and contributions to this important initiative.
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