The winner of this year’s Challenge is a team from Michigan Technological University. Undergraduate student Jerrid Burdue wrote an insightful essay focused on federal government proposals related to education requirements, the myRA program, Social Security taxes and the Saver’s Credit. Professor Emanuel Oliveira served as Jerrid’s faculty advisor. This year, we asked teams to imagine their selection by the President-Elect to serve as the Council of Economic Advisors (CEA). The President-Elect informs the CEA of the great concern over the future challenges of the U.S. private retirement system. The CEA was asked to reimagine the private retirement system to accommodate the needs of workers in traditional work arrangements as well as the changes in the work-life patterns of the Millennial generations so they can be confident of a financially secure retirement. The President-Elect’s charge was to prepare a policy proposal that would be introduced in Congress in January, 2017. The President-Elect also asked the CEA to create a video that could be used to help market and sell the policy proposal. Go to Winners of the iOme Challenge to read the 2015-2016 winning team's essay and see the winning video.
Teams were invited to participate in the 7th Annual iOme Challenge. A top prize of $5,000 was awarded to the winning student team and $1,500 to that team's faculty advisor. The winning team will be invited to Washington D.C. to present their essay at the WISER Forum set for the end of June. Student(s) may have an opportunity to meet with the Assistant Secretary of Labor, various Members of Congress and other policymakers, including representatives from the Departments of Labor, Education, and Treasury.
The 2016 iOme Challenge consisted of two parts: an essay and a video that illustrates the key elements of the essay. We encourage students to form teams with individuals some of whom have policy expertise and some others with video production skills. Teams this year were from many different educational institutions.