ABLE Account Decision Guide Series
Understanding ABLE Account Savings and Public Benefits
References to SSDI include Social Security Disability Insurance Benefits, based on the earnings record of a “wage earner”; Childhood Disability Benefits, based on the earnings record of a parent who is disabled, retired, or deceased; and Disabled Widow’s or Widower’s Benefits, based on the earnings record of a deceased spouse.
SSDI and ABLE Account Balance
→SSDI eligibility and payment amount not affected.
Since SSDI is not based on financial need, the balance of an ABLE account will have no effect on SSDI eligibility or monthly payment amount.
SSDI and ABLE Account Distributions
→SSDI eligibility and payment amount not affected.
Since SSDI is not based on financial need, ABLE account distributions will have no effect on SSDI eligibility or payment amount.
Note: Our ABLE Decision Guide Series is designed as an aid to decision making as it relates to establishing and using an ABLE account. This document does not cover every possible issue related to the topic and is not a substitute to more in-depth analysis that may be required in some cases.
