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Microtraining: The ABLE Act and ABLE Accounts: 10 Things You Should Know

Living with a disability is often associated with significant amounts of extra costs. That’s why individuals and families can now contribute to ABLE accounts — tax-advantaged savings accounts that can fund disability expenses. Here is a quick training on 10 things you should know about the ABLE Act and ABLE accounts. *Please note: the annual contribution limits can be found here.

Quick Links – National Disability Institute (NDI)

Financial wellness means having financial security and financial freedom of choice in the present and into the future. Below is a list of National Disability Institute’s top financial wellness links. Financial Education Better Money Habits – free, easy-to-understand videos and practical tips and tools to help build financial know-how. Money Smart – free, comprehensive financial education curriculum created by the Federal Deposit Insurance Corporation (FDIC). Hands on Banking Quick Reference Guides – resources and tools for financial educators, American Job Centers (AJC), Vocational Rehabilitation (VR) and community-based organizations to support persons with disabilities. Money Circle Toolkit – toolkit from the Consumer Financial Protection Bureau that…

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June 2023 AchievABLE™ Newsletter

The June issue of our AchievABLE™ Newsletter contains stories on the following: Introducing ABLE NRC’s newest ABLE Ambassador: Beverli Austin Check out what ABLE NRC’s Ambassadors Edward and Simon have to say about using an ABLE account to purchase and maintain an accessible vehicle ACHIEVABLE Top 3 Questions ABLE NRC’s Webinars On-Demand INTRODUCING ABLE NRC’s NEWEST ABLE AMBASSADOR: BEVERLI AUSTIN Beverli Austin and her two children live in Pittsburgh, Penn. Her son, TyVel, has Down syndrome and is a Pennsylvania ABLE account owner, and his twin sister, TyAnn, is a PA 529 college savings account owner. The twins are Beverli…

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ABLE Account Contribution Limits (2025)

An annual total of $19,000 can be contributed into the ABLE account by the person with a disability or from: Friends and Family Special Needs / Pooled Trust 529 College Savings Account rollover In addition, an ABLE Account Owner who resides in the continental U.S. and who works and does NOT participate in an employer sponsored retirement plan – within that calendar year – may contribute up to an additional $15,060 from their earnings into their ABLE account. It is higher for residents of Alaska: $18,810 and Hawaii: $17,310. Up to $100,000 in savings within an ABLE account is disregarded…

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Step 2

The Case for Working The U.S. Labor Statistics report for 2021 states that, across all age groups, persons with disabilities were much less likely to be employed than those without disabilities. There are a few reasons for this. Often people with disabilities are unaware that it is possible for them to work, understand which type of jobs are available to them or that they can return to a similar job. Added to that, they often have additional disability-related expenses, as well as concerns about keeping needed means-tested benefits like SSI and Medicaid. Saving earned income in an ABLE account is…

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Step 1

Things to Consider When You Explore Work Getting a job, one that could lead to a career, is a big deal for anyone. If you are a person with a disability, you will have more to consider when it comes to going to work than people who do not have a disability. For example, if you are planning to use a car to get to and from work, and don’t have money to cover this cost, you can save funds in your ABLE account to purchase and/or have your vehicle modified to meet your needs. Explore the ABLE Decision Guide,…

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ABLE to Invest

by Christopher Peterson, President and CEO, Penny Forward As I was transitioning from high school to college in 1996, my parents and teachers strongly advised me to apply for Supplemental Security Income, or SSI, to help me bring in cash to live on while I was in college and looking for work. As a blind person, the application process was very simple and everybody believed that I’d easily be approved. They were right. There were rules I needed to know, though, so I read “The Red Book,” a guide to employment supports published by the Social Security Administration (SSA). This…

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May/June 2022 AchievABLE™ Newsletter

The May/June issue of our AchievABLE™ Newsletter contains stories on the following: Your Support Needed by June 21st for the ABLE Age Adjustment Act National Disability Rights Network (NDRN) and ABLE NRC Collaboration Other ABLE Collaborations Get Ready for #ABLEtoSave Month in August AchievABLE™ Top 3 Questions ABLE Resources ABLE Plan Updates Your Support Needed by June 21st for the ABLE Age Adjustment Act The Senate Finance Committee has an opportunity to move the ABLE Age Adjustment Act through committee by the end of June, increasing the age of ABLE eligibility from prior to age 26 to prior to age…

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#ABLEtoSave Campaign 2022

Thank you for joining us for #ABLEtoSave Month 2022! This month-long campaign provided people with disabilities and their families information about the significance of ABLE accounts and how these accounts can be used to address daily needs, help achieve long-term goals and dreams and increase their financial well-being. Throughout the month of August, the ABLE National Resource Center hosted events and shared ABLE tools, including: panels featuring ABLE account owners and family members, as well as ABLE program administrators and subject matter experts, ABLE Decision Guides, informational videos and more! You can discover the #ABLEtoSave campaign on Facebook, Twitter, Instagram…

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ABLE Accounts: Tax Facts for People with Disabilities

ABLE accounts are tax-advantaged savings and investment accounts for eligible people with disabilities. An ABLE account can help the account owner save money that does not affect benefits based on need. It can be used to pay for qualified disability expenses which enhance their health, independence and quality of life. Tax season is the perfect time to learn about ABLE accounts and taxes. A person may file income taxes for 2021, 2022, 2023 and 2024 before April 15th, 2025, to get any tax credits and economic recovery rebate payments for which they may have been eligible. The 2024 e-file tax…

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S2, E06: Building Your Financial Future with an ABLE Account

Featured Guest: Chris Peterson, ABLE account owner In a successful career as a software developer, Chris Peterson has learned a great deal about managing his finances. In 2020, he decided to make it his mission to teach other blind people some of the things he had to learn the hard way. Knowing he could not do it alone, he began building Penny Forward, a community of people who are blind, who share his interest in financial independence. In this podcast, Chris shares his perspective on the impact and opportunity that ABLE accounts present to working people with disabilities. “It is…

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#ABLEtoSave Campaign 2021

Welcome to #ABLEtoSave Month 2021! This month-long campaign in August will provide 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 our 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…

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ABLE Service Provider Toolkit

Introducing: The ABLE Service Provider Toolkit Information and resources that support financial stability is essential to meeting the needs of people with disabilities. The ABLE National Resource Center (ABLE NRC) makes it easy for service providers, case managers and advocates to inform customers, colleagues and peers of ABLE accounts as a protected savings and investment option that does not impact federal benefits. Family, friends, pooled and special needs trusts may contribute to a person’s ABLE account without direct deposits counting as income. ABLE savings up to $100,000 is not counted towards resources for those who receive Supplemental Security Income (SSI)….

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Service Provider Toolkit

Introducing: The ABLE Service Provider Toolkit Information and resources that support financial stability is essential to meeting the needs of people with disabilities. The ABLE National Resource Center (ABLE NRC) makes it easy for service providers, case managers and advocates to inform customers, colleagues and peers of ABLE accounts as a protected savings and investment option that does not impact federal benefits. Family, friends, pooled and special needs trusts may contribute to a person’s ABLE account without direct deposits counting as income. ABLE savings up to $100,000 is not counted towards resources for those who receive Supplemental Security Income (SSI)….

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#ABLEtoSave Campaign 2020

Welcome to #ABLEtoSave Month 2020! This month-long campaign in August will provide information and resources about the ease, use and significance of ABLE accounts for people with disabilities, a topic made more important now than ever due to the COVID-19 pandemic and its heightened impact on the disability community. And, for the first time, we’ve added an #ABLEtoSave Scavenger Hunt where winners can be entered in a drawing to win ABLE account gift cards. Together, we can increase awareness of ABLE accounts across the nation and expand the number of people with disabilities and their families who benefit from the tax-advantaged savings of…

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Michael Zybura

2020 ABLE NRC Ambassador, Mike Zybura lives in Township, Michigan and opened a MiABLE account for his 13-year-old son, Colin, who has autism, so that he could help him maximize his independence and secure his financial future. In Mike’s own words, “I have always been an advocate for fiscal responsibility and have never had a problem spouting the virtues of investing early and often to anyone that is willing to listen (or even if my audience is unwilling to listen). Very few people will ’fall into’ financial security during their lives. The person in charge of their financial future is…

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ABLE Employer Toolkit

Introducing: The ABLE Employer Toolkit Recruiting and retaining an inclusive, highly skilled and qualified workforce is essential for the health of your business.  That is why it is so important to include options that support your employees who experience disability (whether it is the employee or an employee’s family member) in your benefits packages. At the ABLE National Resource Center (ABLE NRC), we make it easy for employers to share and contribute to the financial stability and prosperity of employees impacted by the additional and often significant expenses that can be associated with having a disability. We do this through…

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Lauren Hughes

Lauren Hughes will always be her son’s strongest advocate-it is her number one job. That is why she opened an Oregon ABLE account in February 2017 for Steven, who has Trisomy 9 Mosaic a rare chromosomal disorder. Funds in Steven’s account will be used to save for his future and to replace the family’s aging van with a wheelchair accessible one, without risking his benefits. With a background in biology, Lauren understands very well the needs of someone with a physical or developmental disability. She wants to share with other families how easy it was for her to set up…

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What is ABLE?

What is ABLE? A brief explanation for Employers… What is an ABLE account? ABLE accounts are tax-advantaged savings and investment accounts for individuals with disabilities. They were created as a result of the passage of the Stephen Beck Jr., Achieving a Better Life Experience Act of 2014, better known as the ABLE Act. The ABLE Act, considered by many to be one of the most significant pieces of legislation for the disability community since the Americans with Disabilities Act, had overwhelming bipartisan support in both the Senate and the House. This law was the result of nearly a decade-long cross-disability…

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What is ABLE?

What is ABLE? A brief explanation for Service Providers… What is an ABLE account? ABLE accounts are tax-advantaged savings and investment accounts for individuals with disabilities. They were created as a result of the passage of the Stephen Beck Jr., Achieving a Better Life Experience Act of 2014, better known as the ABLE Act. The ABLE Act, considered by many to be one of the most significant pieces of legislation for the disability community since the Americans with Disabilities Act, had overwhelming bipartisan support in both the Senate and the House. This law was the result of nearly a decade-long…

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ABLE Materials Toolkit

The ABLE National Resource Center (ABLE NRC) has developed, compiled and updated various ABLE-related materials in an effort to provide stakeholders, including individuals with disabilities and their families, ABLE administrators and managers, financial institutions, state and federal agencies and departments, special needs attorneys and disability-related service providers, with a centralized virtual location in which they can quickly access printable ABLE-related education and information. The materials that we have selected are divided into four categories and together constitute our “ABLE Toolkit.” The goal of the toolkit is to facilitate and significantly broaden, widespread compressive education, information and awareness throughout the country….

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What are ABLE Accounts?

About ABLE Accounts An ABLE account is a savings and / or investment option for people with disabilities who qualify. It falls under Section 529A of the Internal Revenue Service tax code. The ABLE Act allows a person whose disability began before age 26*, to save money in the ABLE account without affecting most federally funded benefits based on need. The money in the account may be used to pay for qualified disability expenses (QDEs). Any growth in the account from investments is not taxed and does not count as income if the funds are used for QDEs. View a…

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