State Treasurer of Iowa

Introducing IAble: A Savings Plan for Persons with Disabilities

This spring, our office launched a new savings program to help persons with disabilities and their families save to achieve a better life experience. IAble allows families the opportunity to plan for the current or future well-being of a loved one with a disability, without the risk of losing their eligibility for certain assistance programs, like SSI or Medicaid. IAble accounts can be used for short-term saving or long-term investing, whichever best meets the needs of the account owner.

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. With ABLE accounts, people with disabilities and their families may save up to $14,000 annually for qualified disability expenses, including but not limited to housing, transportation, assistive technology and education, among others. 

IAble’s six investment options and one checking option offer account owners the opportunity to choose a saving or investing plan that best meets their goals and comfort with risk. The FDIC-insured checking option, offered through Fifth Third Bank, lets account owners withdraw money using a debit card. 
Earnings on investments are federally tax-deferred and tax-free, if used for qualified disability expenses.* Iowa taxpayers may also deduct up to $3,239 in contributions from their adjusted gross income for 2017.**
To open an IAble account for as little as $25, visit Account owners can access their accounts online at any time, and even make withdrawals from the website. For more information about IAble, call 888-609-8910 or visit

*Earnings on non-qualified withdrawals may be subject to federal income tax and a 10% federal penalty tax, as well as applicable state and local income taxes.
**If withdrawals are not qualified, the deductions must be added back to Iowa taxable income. Adjusted annually for inflation.
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