A total of 138 public libraries and other locations in seven states – Alaska, Florida, Iowa, Kentucky, Ohio, Pennsylvania, Wyoming – and the District of Columbia took part in the 2017 DASH for the STASH investor education and protection program and contest conducted by the Investor Protection Institute (IPI) and state securities agencies.
The unique, “scavenger hunt”-like contest attracted an estimated 1,300 individuals at participating locations who learned and then were quizzed about key investing topics: financial fraud, building a nest egg, selecting financial advisers, and the cost of investment fees. From the total pool of 346 people submitting completed responses at host locations in participating jurisdictions, 171 people submitted correct responses. Of the correct responses, eight individuals – one in each participating jurisdiction – were randomly selected to receive $1,000 IRA contributions.
New to the 2017 DASH for the STASH program was the online version which was open to all members of the public including those participating in the state contests. The national online version ran for seven months from April 1st through October 31st and operated in a video game format. From the total pool of 184 people submitting completed responses in the online version, there were 53 correct entries. Of the correct responses, seven winners – one winner per month – were randomly selected to receive $150 IRA contributions.
In addition to IPI, the 2017 program involved the efforts of the Alaska Division of Banking and Securities, the District of Columbia Department of Insurance, Securities and Banking, the Florida Office of Financial Regulation Securities Division, the Iowa Insurance Division, the Kentucky Department of Financial Institutions, the Ohio Division of Securities, the Pennsylvania Department of Banking and Securities and the Wyoming Secretary of State’s Office.