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
39 states and the District of Columbia have launched ABLE programs
17,314 total ABLE accounts opened nationwide
$4,157 average savings in ABLE accounts
$72 million invested in ABLE accounts nationally
The Stephen Beck, Jr. Achieving a Better Life Experience (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 changes the way individuals with disabilities and their families can participate in the community, build financial wellness and plan for their futures by empowering them to save and invest for the additional expenses that come with having a disability without losing, or 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.
Read the NAST response to recent media here.
*Based on data collected by NAST Corporate Affiliate Members Strategic Insight and AKF Consulting Group, as of June 26, 2018