Empowering people with disabilities and their families to save for the future, while protecting eligibility for public benefits
The Stephen Beck, Jr. Achieving a Better Life Experience Act (ABLE Act) became law on December 19, 2014. The ABLE Act creates a new option for some people with disabilities and their families to save for the future, while protecting eligibility for public benefits.
ABLE plans can change the way individuals with disabilities and their families participate in the community, build financial wellness and plan for the future by empowering them to save and invest for the added expenses that come with having a disability without losing access to federal means-tested benefits.
ABLE accounts foster person-centered independence, build self-reliance, encourage employment and improve quality of life. Contributions to ABLE accounts can come from earnings, family, friends and other sources. Earnings on ABLE accounts are tax-deferred, and withdrawals are tax-free as long as they are used for qualified disability-related expenses.
ABLE Age Adjustment Act (S. 651 and H.R. 1814)
Why it's important
How you can help
As the State Treasurer, program administrator, or other interested advocate, NAST encourages you to contact your entire Congressional delegation asking them to support the bill. (Please thank the member if they are already supporting it.) To assist, we have assembled a toolkit of information resources for the ABLE Age Adjustment Act.
“Having an ABLE account now means financial security. I just put a down payment on an accessible vehicle with the money I saved in my ABLE account. I don’t know what I would do without ABLE.”
— Wendy Settles, Illinois, Young adult professional with Cerebral Palsy
ABLE Resolutions Adopted by NAST
Federal Regulation of ABLE Programs
IRS Notice of Proposed Rulemaking: Contribution Limits Applicable to ABLE Accounts – October 10, 2019
US Department of Housing & Urban Development Guidance on the Treatment of ABLE Accounts in HUD-Assisted Programs – April 26, 2019
Internal Revenue Service Release 2018-139 – Guidance on ABLE Accounts and the Saver’s Tax Credit – June 15, 2018
Centers for Medicare & Medicaid Services Guidance: Implications of the ABLE Act for State Medicaid Programs – September 7, 2017
US Department of Agriculture Guidance: Treatment of ABLE accounts in Determining SNAP Eligibility – April 4, 2016
Guidance Under Section 529A: Qualified ABLE Programs – A Proposed Rule by the Internal Revenue Service – June 6, 2015
NAST ABLE Committee
ABLE Committee Report – STATE ABLE PROGRAMS: PROGRESS AND LEGISLATIVE NEEDS – July 1, 2019
ABLE Committee Letter to the IRS regarding adding Social Security Representative Payees (“Representative Payee”) to the list of those who can establish and administer an ABLE account – May 29, 2019
NAST ABLE Committee Letter to United States Senate – November 18, 2019
ABLE In The News
Everything You Need to Know About ABLE Accounts – February 19, 2020
Celebrating and expanding upon five years of the ABLE Act – February 9, 2020
How to build support system for adult children with disabilities – January 9, 2020
529 ABLE Accounts: Helping End Forced Poverty For Disabled Individuals – November 12, 2019
How to Plan for Retirement and Special-Needs Care – October 19, 2019
Recent Changes to ABLE Accounts and Why Your Client Might Want One – September 23, 2019
Top Ways to Plan for Your Special Needs Child’s Future – August 2019
There’s a game-changing way for people with disabilities to save – August 24, 2019
Expanding the ABLE Act will help those who need it most – March 29, 2019
Sen. Burr and Sen. Casey ABLE Op-Ed – August 11, 2018