Celebrating National ABLE to Save Month
August marks the nationally celebrated ABLE to Save Month where those involved in ABLE Savings Plans programs across the country highlight the value and importance these plans bring to those living with disabilities.
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 qualified individually living 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.
Join us in spreading the word during #ABLEtoSave 2021! This month-long campaign provides information and resources about the ease, use and significance of ABLE accounts for people with disabilities. Together, we can increase awareness of ABLE accounts across the nation and expand the number of people with disabilities who benefit from ABLE programs.
Throughout August, the ABLE National Resource Center will host events and share ABLE tools, including panels with ABLE Ambassadors, podcasts, informational videos, “Ask an ABLE Account Owner” forums and more!
You can follow the #ABLEtoSave campaign on Facebook or Twitter by visiting the social media handle, @theABLENRC, and don’t forget to use the hashtag #ABLEtoSave in any posts you share!
WATCH FOR A SPECIAL GUEST BLOG COMING SOON FROM ARKANSAS TREASURER DENNIS MILLIGAN!
Arkansas Achieving a Better Life Experience Plan
The Arkansas Achieving a Better Life Experience Plan (AR ABLE) allows individuals with disabilities and their families to save for many daily, disability-related expenses on a tax-deferred basis – without limiting their ability to benefit from supplemental security income (SSI), Medicaid and other federal programs. ABLE savings may grow and be withdrawn tax-free, provided that savings are used for qualified, disability-related expenses.
Fran Jansen, Director
Email [email protected]
https://savewithable.com/ar/home.html
Arkansas ABLE Plan
1401 West Capitol, Suite 275
Little Rock, AR 72201
501.682.1406
For more information about ABLE Savings Plans, visit the National Association of State Treasurers here. To learn more about AR ABLE, click here to visit their website
