University of Illinois professor of economics Angela Lyons has been chosen to be a Blue Ribbon Judge for The iOMe Challenge, a national college contest that is focused on challenging college students to change the world by investing in their future today.
"The iOMe Challenge organization was formed by a group of concerned citizens, business leaders and academicians to engage and challenge young people to begin thinking about their financial future," Lyons said. "The goal of the challenge is to encourage young people to find creative ways to solve financial problems and save for their retirement."
The 2011 iOMe Challenge consists of two components: an essay and a video that illustrates the key elements of the essay. This year's question is "Why do people today feel it is much harder to engage in financial savings than earlier generations when, on average, the earlier generations were much poorer than today? What would you propose as a solution to change and increase savings rates?"
The top prize for the 2011 contest is $10,000 to the winning student team and $2,000 to that team's faculty advisor. Judging will take place in Miami, Fla., on Jan. 14, 2012. The winning team will present its ideas at a summit in Washington, D.C., to be held in the spring of 2012.
For more information on the 2011 challenge and to register, visit www.iomechallenge.org.
Sponsors of the iOMe Challenge include: Ally Bank, PAi, Sage, American Society of Pension Professionals and Actuaries, the National Association of Government Defined Administrators and St. Norbert College.