State Treasurer of Iowa

IAble Accounts Continue to Grow After ABLE to Save Month

Last month, Iowa was part of the ABLE to Save national initiative, a month-long informational campaign to raise awareness about Achieving a Better Life Experience (ABLE) accounts. I am pleased to announce that more Iowans are choosing to invest, with open accounts in over half of Iowa’s counties. IAble is our newest savings program, offering persons with disabilities and their families the ability to save and earn tax benefits at the same time. Additionally, these eligible individuals and their families are given the opportunity to secure funding for qualified disability expenses without affecting their eligibility for federal assistance such as SSI or Medicaid.
    
With seven different investment options, these accounts can be used for short-term savings or long-term investing. If used for qualified disability expenses, investment earnings grow tax-free. Iowa taxpayers who contribute to an IAble account can also deduct up to $3,319 in contributions from their 2018 adjusted gross income.
 
Since the conclusion of ABLE to Save month, 331 IAble accounts have been opened, with over $1.6 million invested. Anyone can contribute to an open account, and only $25 is required to get started.
 
Please visit IAble.gov to learn more. You may also call the program at 1-888-609-8910, or email us at ia.clientservices@savewithable.com.
  
Check out the video clip from OurQuadCities.com on how ABLE program helps. https://www.ourquadcities.com/news/new-program-helping-hundreds-with-disabilities/1045692087
 
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