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				   ABLE NRC
	  ABLEtoSAVE for Lifelong Financial Wellness
			      April 25, 2024
				  1:30 p.m. EST  

[Captioner standing by] 
>> CHEYENNE RIVERS: Welcomes to those of you joining in.  Thank you for joining us today the webinar will begin soon.  This webinar is being recorded.  The materials, including a transcript, can be found under "resources" and selecting the choice for webinars on the ABLE National Resource Center website.  And we'll be with you shortly.  
Welcome, everyone, who is coming on in.  We're so happy you a here and we'll start shortly.  Just waiting another minute or so for all attendees to arrive.  Hello, everyone.  Welcome to #ABLEtoSAVE for Lifelong Financial Wellness.  My name is Cheyenne Rivers.  I'm Project Coordinator for ABLE National Resource Center.  
The audio for today's meeting can be accessed using computer audio, or by calling in by phone.  If you select computer audio, please make sure your speakers are turned on, or your headphones are plugged in.  
If you don't have sound capabilities on your computer, or prefer to listen by phone, dial 1‑929‑205‑6099.  The meeting code is 873 1577 2072.  Captioning and ASL interpretation.  Realtime captioning and American Sign Language, ASL interpretation, are being provided.  The captions can be found by clicking on the "closed caption" icon in your Zoom controls at the bottom of the screen.  
Note: If you do not see the captions after clicking the button, or the ASL interpreters on the screen, please alert the host via the Q&A box.  Questions and technical stance assistance.  Questions: We have accepted questions in advance of this webinar.  Additionally, we'll try to answer questions placed in the Q&A box during the webinar.  
If your question is not answered, or if you are listening by phone or Facebook Live, please info@ablenrc.org, or visit our website, ablenrc.org.  And contact us if our resources don't provide the answers you are seeking.  
Technical issues.  If you are having technical difficulties, please info@ablenrc.org.  Enter "webinar help" in the subject line.  ABLE National Resource Center is the leading comprehensive source of objective, independent information about ABLE plans including guidance on taxed advantaged ABLE savings accounts.  Our mission is to educate, support and promote the positive impact ABLE can make on the lives of millions of Americans with disabilities and their families.  

>> JODY ELLIS: Hello, everyone.  Welcome to Lifelong Financial Wellness for able ABLE to Save month.  I am Jody Ellis and I'm the resource director here at the National Disability Institute.  I will be the facilitator for today's webinar.  I'm going to be joined by esteemed panelists.  We have four ABLE NRC ambassadors.  First is Jenny Casselman.  She is an ABLE family ambassador and, also, a family compliance professional.  We have Taylor Carty, who is an ABLE Account Owner.  She's a Master of Public Health Student.  And who just finished one of her classes to join today's webinar.  
An also have Nathan Turner.  He's an ABLE Account Owner and a professional in the field of developmental disabilities.  And we have Pshon Barrett.  Pshon Barrett is an ABLE Account Owner as well, a retired attorney and currently self‑employed as an attorney in private practice.  
Also joined today by the ABLE NRC team members.  You have already met Cheyenne Rivers who is our project accord Nay core ‑‑ coordinator and two subject matter experts joining today Laurie Schaller and Marlene Ulisky.  
Welcome to #ABLEtoSAVE month.  I'll give a quick overview it is.  You'll learn how four ABLE Ambassadors in different life stages save and use their account for life goals.  We'll give tips to achieve financial wellness, as well as providing ABLE NRC and general NDI resources.  
For #ABLEtoSAVE, what is #ABLEtoSAVE?  It's a month long educational campaign, and it's designed to provide information and resources about the ease and use and significance of ABLE accounts for people with disabilities.  
As of December 2023, there are more than 162,000 Able accounts that are open.  This number is still underrepresented.  We're hoping to spread awareness and encourage people to use ABLE accounts to their advantage.  I wanted to recognize our sponsor for #ABLEtoSAVE month.  So thank you to Prudential.  
And this year, for #ABLEtoSAVE, we've recognized the month by hosting two webinars.  We had a webinar on April 16th, 2024, for Opens the Door to Housing Opportunities.  That's been recorded, and the recording is placed on our website for anyone to access on demand for free.  
And then today, originally aired April 25th, 2024.  It's using #ABLEtoSAVE for Lifelong Financial Wellness.  We expect the recording to be able in two weeks on our website for today's webinar.  
And then lastly about #ABLEtoSAVE, we do have participation from a variety of different ABLE programs, national disability groups, financial institutions and other stakeholders.  And we encourage all of you to join #ABLEtoSAVE by sharing posts on social media and by following our channels.  So you can follow us on Facebook, Instagram, Threads, LinkedIn.  And if you are making a post, please use the hashtag, #ABLEtoSAVE.  
So first up, I'm going to lay a brief foundation of ABLE accounts before we meet our panelists.  One is ABLE is a tool to support financial wellness.  Achieving a Better Life Experience allows millions of people with disabilities the chance to save invest money without paying taxes.  Account owners who receive needs based benefits can save more than savings limit and still get benefits if they need them.  The savings can be spent on things that keep the person healthy, independent and having a good life.  It's flexible and it includes covering basic needs like food and housing.  
Currently for 2024, anyone can deposit it up to $18,000 a year into an ABLE account.  And employed account owners may be able to deposit more.  Just want to emphasize that anyone can contribute money into an ABLE account; friends, family can all contribute without that counting as income.  And, of course, if you work those earnings can be contributed as well, just know that depending upon a benefit program that you are on, it could still be countable income.  
And then also, there are resource limits that I would just mention on the next slide.  With an ABLE overview.  One more.  With resource limits, the amount ‑‑ if you are on SSI, the amount is $100,000.  So the first $100,000 will not be counted as a resource for SSI or for Medicaid.  So I just wanted to point that out.  
We'll talk about who is ABLE eligible.  If I have received SSI or SSDI since before the age of 26, and this is changing to the age of 46 as of January 1st, 2026.  If your disability onset began before age 26, you could have your doctor sign a disability certification.  We have that form available on our website.  
And if you work and you no longer receive SSI or SSDI, but your disability continues, you can remain ABLE eligible as long as your disability began before the age of 26.  And a person can open an ABLE account at any age.  So although we do talk about the onset of disability at the age of 26, there is no age limit for when you can actually open an ABLE account.  
So there are 49 different plans from which to choose.  There are 46 states that have ABLE programs.  And if you are ABLE eligible, you can open one ABLE account.  There are a lot of states out there that do accept plans to be opened by out of state residents.  And on the ABLE NRC website, we do have a comparison tool ‑‑ a state comparison tool and an interactive state map so you can look at such things as whether or not there's tax advantages for opening a plan in our own state.  If there's debit cards.  What account fees there are.  What different types of investment options.  So those are the different types of things you can compare by feature.  
So Qualified Disability Expenses.  ABLE funds can be used to pay for items or services that either relate to the ABLE account owners disability, or are the benefit of an ABLE Account Owner, or it relates to maintaining or improving an account owner's health, independence, or quality of life.  
Some examples.  These are very broad categories of expenses because, obviously, everyone's situation and disability is different.  So, the I.R.S.'s publishing these categories of Qualified Disability Expenses.  They're not intended to be specific.  The domains of funds can be used in education, housing, food, transportation, employment training, and support, assistive technology, personal support services.  Education and training, health prevention and wellness, healthcare, financial management and administration of services.  Any legal fees.  Expenses for oversight and monitoring, as well as funeral and burial expenses.  
So it's not limited to these, but these are the general categories of funds.  We can't give a lot of specifics about what is incorporated in these categories.  It's for the account owner to look at these categories and be like, okay, if I attend this training conference is, this a Qualified Disability Expenses?  Yes, it's pertaining to my education.  Okay, I feel comfortable that it's a Qualified Disability Expenses.  
We did have a question come in, in advance of this webinar asking if they have to sign something showing this was a QDE, or a Qualified Disability Expense.  And as of right now, there's not anything you have to sign.  But we do encourage account owners to hold on to receipts in case the I.R.S. or in case Social Security Administration, if you're on one of their benefit programs, it's possible that those entities may ask you about that.  So, we ask you to keep receipts, but there's not anything that you have to specifically sign for.  
On the next slide.  So we're talking about lifelong financial wellness in today's webinar.  Regardless of what stage of life you are in.  There are tips to build financial endurance.  One tip is open an ABLE account as early as possible.  Just because you can use the power of ABLE accounts for a longer period of time.  
You would wanted to add funds to your ABLE account as consistently as possible.  And ask others to help contribute.  And you want to delay with drawing ABLE funds as long as it's possible just to allow your savings to continue to grow.  
If you invest, we recommend to diversify because it reduces your risks and can maximize your returns.  You also may want to investigate alternative, low cost, or no‑cost finished e funding ‑‑ funding sources to help pay for Qualified Disability Expenses instead of using your ABLE account funds because that will allow your ABLE savings to continue to grow.  
So this a what we've all been waiting for today, to really hear from ABLE account owners.  So the first life stage that we are going to cover is youth.  And for youth, we mean preteen.  So we have Jenny Casselman who is joining us on the panel.  And Jenny is the mother of Kenley.  
So welcome, Jenny.  So nice to have you today.  
>> JENNY CASSELMAN: Thank you.  I'm very honored to be here with such a wonderful group.  And a very engaged group.  Just based on the questions that we're seeing and excited to share our experiences and the difference that it makes in our daughter's life.  So ready to get rolling.  
>> JODY ELLIS: All right.  So you're a mom to 15‑year‑old Kenley.  And you began the foundation of Kenley's financial future many years ago.  So how important was this to you as a parent?  And what lead you to ABLE accounts?  
>> JENNY CASSELMAN: Well, like any parent, we wanted to try and help position our children for success in whatever that looks like.  We actually opened Kenley's ABLE account when she was in grade school.  And we don't know what her future will look like specifically, but she has hopes and dreams.  So we wanted to make sure that we were providing her with the financial resources to provide her as much agency as possible as she moves forward in the future stages.  
Of course, right now, she's busy being a teen and dancing to Taylor Swift.  But one day, she'll have a job and be a contributing member to our society.  So we felt it was really important to help set her up for success by building a savings plan that didn't help jeopardize any type of need tested benefits she may potentially access as an adult.  So end of the day is success for her, means we're planning for her future.  And we'll really excited about what that future looks like for her.  Whether she wants to be a designer or child caregiver will be up to her.  But allowing her to have the safety net of the ABLE account positions her in a way to access education, or any type of adaptive supports that she needs.  Or just generally interacting with the community and her peers.  
>> JODY ELLIS: Great.  That is awesome.  I was going to ask you how you felt the ABLE account was go going to fit in future goals but you answered that in terms of, it could be for her education.  It could be for adaptive equipment, assistive technology, employment supports.  I guess as you said, the opportunities really are endless for her right now, which is fabulous.  
>> JENNY CASSELMAN: It's really exciting to think about all the opportunities that are available to her.  And this is really a part of it because positioning her for success means she will have access to resources to help her achieve those dreams and goals.  And like any parent, she'll fly the nest and that will make me sad, but will make me proud and happy at the same time.  
>> JODY ELLIS: Yes.  Would be willing to share what account features or investment options you're selecting while Kenley is at such a young age that is going to help her grow to be more financially stable?  
>> JENNY CASSELMAN: Sure.  Right now, we opened the ABLE account and we are not utilizing any funds in the ABLE account.  We are only contributing to that and building a nest egg for her so that when she becomes an adult, she'll be able to access it.  
So at this juncture, we're utilizing the investment options.  But we're also using that as an opportunity to provide financial literacy to Kenley, so we show her, her quarterly or annual statements.  And to the degree it's appropriate for her show what those contributions mean to her.  And we talk about some of her goals and her dreams and how this account will continue to grow and support her.  
Sometimes, grandparents are really nice and they provide some money in an Easter egg, so we put that in her ABLE account and we're able to show her those deposits so she can see those.  It's great from the perspective of being able to save.  And we're utilizing the investment options, but also using the tool for a mechanism of financial literacy.  Which is really important when we talk about agency and her ability to manage her finances in the future.  
>> JODY ELLIS: Yeah, absolutely.  Do you have any words of advice or tips for other parents to teach their young children or young adults are financial skills that will help them manage an ABLE account in the future?  
>> JENNY CASSELMAN: Sure.  And it looks like we also had a question come in about how long it took to open the ABLE account.  I like to say this is one of the easiest accounts that we've ever opened.  Really opening an ABLE account for us was very seamless and it took about half an hour to open the account online.  
I'm here in Nevada so we utilized the Nevada option.  But the way we think about this account from the perspective of the financial literacy piece is, you know, over time, just having the conversations about money.  You know, in the past, you would have currencies so used a lot of cash.  But in today's economy, a lot of transactions are happening digitally.  
So we're really taking the opportunity to show Kenley how to view information online.  She, like many young children, are very savvy when it comes to logging in online.  So we do that together, but you know, we just continue to reiterate subjects; here's what an account statement looks like.  Here's what your balance looks like.  Here's what happens when something goes up or something goes down in terms of an investment.  And we try and calibrate that conversation to something that's meaningful to her.  And as I mentioned, she can correlate a gift from a family member, and she can see that transaction in the account.  So any time there's the opportunity to talk about money, it's a great thing.  And the more relatable that it can be to someone that's appropriate to them, is the biggest win.  
>> JODY ELLIS: Oh, that is awesome.  And thank you for answering that question in the Q&A as well.  I would imagine there are going to be more questions coming at you, Jenny.  So, hopefully, as time permits at the end of the webinar we'll get to other questions.  Thank you so much for sharing your ABLE story and Kenley's ABLE story.  It's important for other account owners or people thinking of becoming an account owner, to hear about other's specific lived experiences going through that process.  So thank you so much.  
Okay, next up we will be talking about the youth and transition to young adult life stage.  So today we have Taylor Carty who is going to be representing that stage and talking a little bit about ABLE accounts and how she uses ABLE accounts in her life stage as youth in transition.  So welcome, Taylor.  
>> TAYLOR CARTY: Thanks, Jody.  Happy to be here.  
>> JODY ELLIS: So Taylor, you are a graduate of the University of California, and you have a bachelors degree in biology.  And I know that you have worked with Syracuse university as a research assistant.  You are currently in school again in a masters program.  So you are a very successful young lady.  And you chose to open up your ABLE account after you had graduated with your bachelor's.  So can you tell us why you opened the ABLE account at that time?  And kind of what role it has played so far in your life about helping you overcome some life challenges, if you've had any, and help you meet your goals.  
>> TAYLOR CARTY: Absolutely.  I just graduated from college and I knew I wanted to pursue higher education.  But given that higher education is very expensive, I knew I needed a tool to be able to save while also not losing my Medicaid eligibility.  I came across ABLE accounts and I was deciding between a couple of different states given their different advantages, and at the time, disadvantages based on my needs, I decided Pennsylvania ABLE, PA ABLE, would be the best option for me.  
And that was a couple years ago now.  And I have been very, very fortunate in that I've been able to secure scholarships for most of my schooling.  So that has been allowed to grow in terms of the funds.  I used several of the investment option features, including the growth.  But I'm also a little risk ad verse.  So if there was one thing that I probably would have done earlier is I would have been ‑‑ I would have invest more sooner.  But the past is the past, but you can always do today what you want.  So I think that's a pretty much important lesson, too.  
>> JODY ELLIS: Absolutely.  When you opened your ABLE account, did you originally open it and just select the savings option and then after a couple of years choose investment options?  Is that your path that you went through?  
>> TAYLOR CARTY: So I first started with the checking account option because, again, I'm not the riskiest person, so I just wanted to be secure especially knowing if I needed to with draw that money for school was as much as I hoped I received scholarships, it wasn't a guarantee.  And I was fortunate that I did.  
And once I realized I had a good chance of receiving the scholarships about a year and a half ago, I started to invest.  And, also, a lot of stuff has happened within the last couple of years that steered me away towards knowing I would need the funding for school more towards retirement.  So that's just kind of my trajectory and I'm glad I haven't had to take any money out.  But I think the investment options really do help in just building to grow your money.  
>> JODY ELLIS: Yes.  So you are a true role model for any citizen to be in your early 20s and already thinking about retirement.  So congratulations to you for having that focus.  It will serve you well later in life for sure.  
>> TAYLOR CARTY: Thanks.  
>> JODY ELLIS: As an account owner and ABLE NRC Ambassador, do you have a promising practice that you could share that would encourage other young adults to either save more, and help realize that an impact an ABLE account can really have on their life?  
>> TAYLOR CARTY: I think just realizing that an ABLE account is another tool to build financial security.  And with financial security just comes so much.  It can open so many doors and allow you to take risks and pursue opportunities that you would have never pursued otherwise.  And it doesn't have to be just an ABLE account.  You use it with other resources and with other support so that you can build the best future thought want ‑‑ that you want for yourself.  If that means just diverting some funds to just pursue a dream that you wanted in terms of having a better quality of life, then so be it.  If it means saving for retirement like me, then if you're in it for the long haul, that's good as well.  But I think it depends on what you want to do.  And who you want to be.  So I think that's one of the best things about ABLE accounts.  
>> JODY ELLIS: Awesome.  Thank you so much, Taylor.  
>> TAYLOR CARTY: Of course.  
>> JODY ELLIS: I really appreciated hearing from you and getting your perspective.  I think in terms of youth, whether it's youth preteen or teenagers or teenagers in young adulthood, moving to young adulthood, I think that in terms of financial education, education leads to new opportunities, right?  So education will never be wasted.  I think it's important, and we've seen even for Kenley, but especially for Taylor, that if you develop a plan early to have short‑term and long‑term goals, and, also, to learn some financial skills as a young age, I think those are some great takeaways.  
I think in transition, including ABLE education for youth that are in transition would be super important.  So Taylor, you got the information.  I'm not sure if you got the information while you were in school and it was part of a curriculum or if you had to learn on your own.  So how did you learn ‑‑ how did you even know about ABLE accounts?  
>> TAYLOR CARTY: So, you learned from doing my own research.  I also am a client of the Department of Rehabilitation so someone else had also mentioned it to me.  But mostly just knowing the limitations of what I could and could not do in terms of Medicaid that pushed me pretty far toward ABLE accounts.  When I opened it, it was pretty early on.  When I was allowed to open it.  But I think just in terms of also depending on your needs, the Medicaid pay back provision.  And at the time ‑‑ sorry, there are other students just walking by.  
At the time, I think Pennsylvania, California, and Oregon were the only states that had the Medicaid pay back.  It eliminated that, but I think that's also an important aspect to consider.  Like if that's if you're planning to use Medicaid over the age of 55, then you might want to consider those benefits of what states have to offer as well.  
>> JODY ELLIS: Great advice.  Thank you so much, Taylor.  And our next life stage that we're moving to, we're going to be kind of talking about using ABLE accounts in the working life stage.  So we have Nathan Turner who is going to be representing this stage.  So Nathan, welcome.  
>> NATHAN TURNER: Hello, Jody.  Good afternoon.  Thank you so much for having me.  
>> JODY ELLIS: Yes, it's a pleasure to have you join our panel today.  I think account owners, whether current or future, will really benefit from information that you have to share.  So, I know that you became an ABLE NRC Ambassador about three years ago.  I think it was in 2021.  
>> NATHAN TURNER: It was.  
>> JODY ELLIS: And you also work as a professional in the field of developmental disabilities.  And I know you're here as an account owner and share your personal experience.  So, can you tell us a little bit more about yourself, what you love to do in your spare time, and kind of what an ABLE account means to you?  
>> NATHAN TURNER: I would be happy to.  Good afternoon, everybody.  My name is Nate Turner and I have the pleasure of working with adults living with disabilities in Ohio State Government and supporting them to navigate Medicaid waivers.  
And in my spare time, I love to travel and try new foods and connect with people.  And enjoy new experiences.  And I have an expression that relates to my experiences using an ABLE account, which is that money is freedom for people living with disabilities.  
The intersection of race and poverty and disability, I think, is vast.  And it's something that NDI is doing really insightful work about educating its partners and communities.  And it's something that I'm passionate about.  I really believe the ABLE Act is a truly transformative law.  And will em power the disability community in some of the same ways the Americans with Disabilities Act did.  
>> JODY ELLIS: Yes, very well said.  Can you tell me what you have been able to accomplish with your ABLE account that may be you might not have been able to have that be possible without having an ABLE account?  
>> NATHAN TURNER: I think the biggest thing I've been able to accomplish is a greater sense of financial stability so they know ‑‑ because of my family situation, I relied on public benefits for quite a long time, including Supplementary Security Income and Social Security Disability Insurance.  And I still rely on Medicaid and Medicaid waivers to be able to live independently in the community.  
And at its core, my ABLE account has allowed me to do those things.  As my family members get older and unable to support me and I'm more reliant on some eligibility specifics to live in the community, ABLE allows me to work full‑time and make a substantial income while still being eligible for at least Medicaid.  
>> JODY ELLIS: Yes.  
>> NATHAN TURNER: But it also gives me the opportunity to really make decisions about how I want to spend my money.  Before ABLE, I wasn't really able to save because of the earnings caps and resource limits, it's a really limiting piece.  
And ABLE raises that bar to new heights.  I think in my state, the max ABLE account is like $540,000 that can be stored in the account.  And so that really gives me, the account holder, the opportunity to think about how we want to save, invest and spend money.  And that's the true power of ABLE.  
>> JODY ELLIS: I'm glad we're recording this testimony so we ‑‑ this webinar so we have your testimony spoken and we can refer back because that's truly one of the biggest perks or benefits, or positive impact that an ABLE account can make.  If you compare $2,000 versus I think you said 548,000, that's a pretty big difference, right.  
>> NATHAN TURNER: Yes.  
>> JODY ELLIS: And it sounds like a lot of opportunity and freedom between those two amounts.  
>> NATHAN TURNER: And if we think about ‑‑ I focus on people living with developmental disabilities and the importance of self‑determination.  And historically, the folks that I've been supporting, they really haven't been able to have any type of conversation about financial wellness, basic financial wellness, or what savings and investing for the future might be.  
So ABLE is truly a lifeline for us to be able to live lives that are more similar to people who don't presently live with disabilities.  
>> JODY ELLIS: Yes.  As an ABLE Account Owner who is working and earning wages, do you have any saving strategies you can share with the attendees today?  
>> NATHAN TURNER: I do.  I would say that folks want to have a budget in mind and really commit to saving.  And for working account owners, they should prioritize ABLE to Work contributions first.  Because that's a separate bucket of funds that only a work account can contribute to I believe up to 13,590, and Laurie and Marlene, correct me if I'm wrong.  That is separate from the $18,000 in general contributions that anybody can contribute to, including a 529 account or a trust, or friends or relatives or so on.  
So prioritizing ABLE to Work is key.  And just making a plan and committing to saving.  
>> JODY ELLIS: Yes, absolutely.  And I will just ‑‑ I'll let Laurie and Marlene clarify the amounts, but I do though for ABLE to Work, any person who is working and earning wages and is not otherwise contributing to the employer's retirement plan, that's when additional funds could be contributed into an ABLE account.  
>> NATHAN TURNER: And I think that's a really powerful incentive because a lot of us have to work part‑time because of our medical conditions.  And working part‑time often doesn't come with benefits full‑time employment with would come with like accessing a retirement account.  So ABLE to Work can be a de facto retirement account for somebody who doesn't have access to that.  
>> JODY ELLIS: Excellent point.  Nate, I know now you're contributing to your account.  What are your plans for your ABLE account?  What are your future plans for using ABLE?  
>> NATHAN TURNER: Right now, it's saving for retirement and for future and large purchases.  I have a goal to one day own my own home.  So I'm well on my way to doing that with my ABLE account.  And I'm also saving for retirement as well.  
>> JODY ELLIS: Awesome.  Well, congratulations on having those financial goals.  And best of luck to you in your financial journey because you are in a good space and contributing to your ABLE account and kind of taking advantage of the power of ABLE.  So thank you for joining us, Nate.  
>> NATHAN TURNER: Thank you.  It's my pleasure to be here.  
>> JODY ELLIS: All right.  Next up we have Pshon Barrett.  Pshon is going to be representing the retirement life stage.  She is a retired U.S. attorney, but she isn't fully retired because she's working in private practice now.  So, Pshon, welcome.  
>> PSHON BARRETT: Thank you.  Glad to be here.  Thank you for the opportunity.  
>> JODY ELLIS: Yes, and I want to ‑‑ yes, your video is on and you're coming in loud and clear so thank you.  
So Pshon, as you excited the federal work force as a U.S. attorney, I know that you have had to feel satisfaction that you have reached some of your life goals.  And ABLE accounts were created after you were 26 years old.  How did you become aware that you were eligible to open up an ABLE account after the age of 26?  
>> PSHON BARRETT: Part of my responsibilities as an assistant U.S. attorney was enforcing the Americans with Disabilities Act.  So I was pretty in ‑‑ cued in to the disability community, and had been following the progress of the ABLE legislation.  Through Internet, articles and presentations.  And so when I retired from the U.S. Attorney's Office and started working for a small law firm, that was in January of 2018.  
And Mississippi did not come on board with ABLE accounts until June of 2019.  And it was not until I became an ABLE Ambassador I think in 2021, that I found out that I could have been saving in another state's ABLE program.  I thought I had to wait until Mississippi came online.  
But it's a great program for people who work and for people who are on public assistance.  
>> JODY ELLIS: Yes.  And we always say, it's never too late to open an ABLE account.  But, yes, the earlier you open the account, obviously, the longer you can take advantage of the power of ABLE.  
From a financial standpoint, what steps did you take prior to retiring from the federal government to plan for your future using an ABLE account?  
>> PSHON BARRETT: Well, I didn't really ‑‑ I was not aware ‑‑ I didn't know that I could have an ABLE account until like a year and a half after I retired.  And at that time, when the ABLE accounts came on board in Mississippi, I was working for a private law firm, a very small firm, and wanted to open an ABLE account for myself as a working person to save for the future, and for various expenses that would qualify under the account.  
>> JODY ELLIS: Yes, and are there ‑‑ if you would be willing to share, what ABLE account features do you use?  
>> PSHON BARRETT: I use the checking account, the investment account options, the credit card option, the checking account, and personal checks on the account.  For example, I attended a continuing legal education seminar which is required to keep up my law license with the Mississippi Bar.  I have to have so many hours of continuing legal education every year.  
And so I wrote a check out of my ABLE account to pay the fee for that course.  And I use I use the credit card for things like medical co pays, prescription drug co‑pays, that sort of thing.  
>> JODY ELLIS: Excellent.  You actually answered an attendee registrants question in advance.  They were asking whether or not a conference could count as a Qualified Disability Expense.  So in your specific example, you showed or you explained how that conference really was tied to either education and training, or your vocation.  So thank you for pointing that out.  
Do you have any ABLE account savings strategies that you could share with others that are attending the webinar today?  
>> PSHON BARRETT: Well, I think regular contributions to the account are important.  It creates a really good habit of regular saving.  And it's like, even if I can't save more than $10 a month, $20 a month, maybe 100 or 200, whenever it might be.  Just budget that in, and that's how I've been able to build my account.  And I feel like I'm playing catch‑up, but that's one strategy.  
Also, watching the account as it grows.  Looking at the various investment options, you have the opportunity to move that money around between, let's say, aggressive growth or growth funds or conservative option.  Also, looking at the fees, which are charged by those various investment accounts, I'm kind ‑‑ investments are one of my hobbies, or the market, stock market.  
I thought, I'm going to put money in all this aggressive growth and growth options.  And I said, oh, there are fees associated with every one of these options.  So I began to move that money into a couple of options that were sort of more conservative or middle of the road or whatever.  
So, that's one thing.  And then the other I think that's important to know, and NRC has a great chart on their website, just explore what other states have to offer.  Because there are differences in the accounts and in the offerings.  And that's important depending on whatever personal situation you're in to look at those various options, and decide what's best for you.  
>> JODY ELLIS: Yep, very good advice.  We do get a lot of questions in at ABLE NRC about investment options.  And, of course, the investment options are different for the different state plans.  They're not all the same.  So we always encourage people to look at the plan disclosure statements, or plan disclosure booklets, to kind of get some of that information that you're talking about, Pshon.  
But, yeah, it is good to point out that you have, as an ABLE Account Owner, you have that flexibility.  You have those choices.  So it's awesome that you're exercising those choice and options that are open to you.  
And then also, you mentioned that you started a little bit later so you're feeling that you're playing catch‑up.  But I'm assuming also working after retirement from the federal government it also helping you to be in a certain financial situation because you're continuing to earn wages.  
>> PSHON BARRETT: Oh, absolutely.  And that enables me to save even more in my account by working.  
>> JODY ELLIS: Yeah, absolutely.  Because you can contribute your earned wages.  That's one of the sources of contributions that can go into ABLE.  
Well, thank you, Pshon, very much for your wisdom.  And sharing your experience with ABLE accounts.  I want to say, in the retirement phase or stage, there could be advantages to having an ABLE account if you're with drawing funds.  Because in an ABLE account, the funds you are with drawing tax fee.  And there could be some other types of retirement accounts where the funds you're with drawing would not be tax free.  So that would be one example of an advantage of an ABLE account in that situation if you're with drawing funds from that type of account.  
So I think in terms of learning from the working stage, or even the youth and transition stage, if you're eligible for an ABLE account, open the account early and start contributing early.  And I think that a lot of people do aged‑based financial planning.  And I think in this webinar, we're showing that everyone's life and circumstances are different.  
So life stage‑based planning may also work for you.  ABLE account is a flexible tool.  It can be used for unique circumstances.  It can be used for all stages of life.  And as we mentioned before, it's never too early or too late to open an ABLE account.  
So we'll, in the interest of time, we'll get through the other slides.  And if we've got time for a Q&A, we will.  Otherwise, Marlene and Laurie are answering.  I'm sure quickly, the questions that are in the Q&A box.  
So tips to enhance savings opportunities.  You can explore federal and state tax credits.  Explore employment opportunities.  If you use SSA work incentives, it will allow you to keep more of the earnings that you can then save.  And after you open an ABLE account, if you find a plan using state comparison tools by feature, if you find a plan that have lower fees or have a higher plan limit, or more or different investment choices, it is possible for you to rollover into another ABLE plan.  
ABLE account owners can only have one ABLE plan, but it could transfer from one state to another state.  Next, we have tips to increase financial wellness.  So you could make a commitment today and open an ABLE account.  Choose some priorities and set both short‑term and long‑term savings goals.  Evaluate and revise your goals as needed.  And go after it.  So you will see the success that our panelists are having today with making contributions into their ABLE account and achieving their goals.  
You've heard it a few times today, but automate your ABLE savings.  It will make it easier to regularly contribute to your savings goals.  Stay motivated.  If you do have a set back, get back on track.  And really do the best that you can do today for a better future and more stable financial future ahead.  
So for ABLE NRC resources, just quickly, we have ‑‑ this is our website, ablenrc.org.  We have decision guides, information flyers.  You can meet other ABLE Ambassadors or read bios of ambassadors that spoke today.  We have #ABLEtoSAVE Podcasts.  All webinars are on demand.  And have upcoming webinars that are available.  We have AchievABLE news letters, so we encourage you to subscribe.  
The next slide, we have tool kits for employers, for service providers, for youth in transition.  And then we also have some NDI resources.  We have American Dream Employment Network, ADEN, for those who are on the Ticket to Work Program.  We have an assistive technology and loan program.  We have a Financial Resilience Center and Small Business Hub.  
We also want you to help spread the word.  So not just during #ABLEtoSAVE Month, but we encourage you to share information about ABLE accounts with friends, family and community groups.  Join us on social media.  Participate in our future webinars.  Listen to some recorded webinars.  And visit our website for resources including the frequently asked questions.  
So with that, we have three minutes.  So I think ‑‑ and I don't know, Marlene, and Laurie, if there were some tid bits, like something that was a really common question that many people asked that you want to ask here.  Or we could end it with the panelists just sharing a nugget of information.  
You can let me know.  
>> MARLENE ULISKY: Go ahead, Laurie.  
>> LAURIE SCHALLER: So many people asked about Medicaid pay back.  So upon the death of an ABLE Account Owner, outstanding Qualified Disability Expenses are first paid.  And that includes funeral and burial expenses.  And then based upon the state that that person lives in, and the ABLE plan that they selected, Medicaid may ask for repayment of any costs that were paid since that ABLE account was opened.  
And Marlene, you can take the next piece.  Thank you.  
>> MARLENE ULISKY: I'm sorry, Laurie, I was typing.  Could you repeat the last sentence?  
>> LAURIE SCHALLER: Sure, we had a lot of questions around 529 ‑‑ excuse me, 529 accounts being able to roll a balance into an ABLE account.  That option expires as of January 2026.  So people may want to consider that option.  That amount is allowable up to $18,000 from all combined sources of contributions made into an ABLE account this calendar year, and next calendar year.  
And then we did have a bunch of questions about 401(k)s.  So a distribution from a 401(k) may be a taxable event in the future.  And if a person is on means tested benefits like HUD or something, that's a countable income that may reduce a person's Section 8 benefit, for example.  But a distribution from an ABLE account in the future is not income.  And any amount of ABLE savings is not a countable resource for SSDI, SNAP, HUD.  Any type of Medicaid or Medicare.  
The only person whose limited to saving up to $100,000 in an ABLE account is an SSI beneficiary.  
>> MARLENE ULISKY: Laurie, there were questions, too.  People seem to be confused between the $18,000, the ABLE to work limits, the $100,000 you just mentioned and then the 548,000.  So maybe we need to clarify that because with regards to contributions into the ABLE account from all sources it's 18,000 per calendar year.  And that generally changes each January.  
But certain employed account owners may be able to contribute more.  If, as Jody said a little earlier, there aren't contributions by an employer or by the person into a retirement account.  If there aren't, then they may be able to contribute more under the ABLE to Work Act.  The $100,000 as you said Laurie is the amount disregarded by the SSI program.  The $548,000 is the limit in certain states.  Each state has an ABLE contribution, like an account limit.  And it's the same limit as the college savings account.  So in some states, it's as low as perhaps $235,000.  But it could be up to $548,000.  So that's kind of the differences.  I hope that helps a little.  
>> JODY ELLIS: Yes, thank you, Marlene, for clarifying that.  Because these different limits can be confusing, and they mean different things.  So I really appreciate you making those points of clarification.  
The ABLE NRC does have another webinar coming up in May.  This is really for account owners and their supporters giving tips for maximizing your ABLE account.  So the ABLE NRC is collaborating with Vest Well and I believe that webinar is on May 14th.  If you subscribe to our e‑mail list, we will send you information about that upcoming webinar.  Or you can find it on our home page.  
Until we connect again, I really want to thank you for spending this past hour with us.  And until we do connect again, all of us at ABLE NRC wish you a healthy financial journey.  Have a great day.  
[End of webinar]