State Treasurer Michael Fitzgerald announced that August is ABLE to Save month for persons with disabilities. Iowa joins the ABLE National Resource Center as well as states around the country to promote ABLE to Save, a month-long informational campaign about Achieving a Better Life Experience (ABLE) accounts. Signed into Iowa law in 2015, the program allows families the opportunity to plan for the future well-being of a loved one with a disability.
“IAble was designed to provide disabled individuals a tax-advantaged way to build financial futures and achieve a better life experience, without losing eligibility for certain federal assistance, such as SSI or Medicaid” Fitzgerald said. Anyone can contribute to an account, and only $25 is required to get started.
The federal Achieving a Better Life Experience Act (ABLE) of 2014 authorized tax-advantaged investment accounts similar to college savings programs such as College Savings Iowa. The ABLE National Resource Center, founded and managed by the National Disability Institute, aims to provide consistent, reliable information regarding benefits of an ABLE account.
For more information about IAble, please visit IAble.gov or contact the program at (888) 609-8910. Keep up with all treasurer of state programs on social media (Facebook and Twitter @IowaTreasurer).