Initiative to educate and encourage people with disabilities to open ABLE accounts to support financial stability
WASHINGTON, April 1, 2024 /PRNewswire/ — The ABLE National Resource Center (ABLE NRC) announced today the launch of its 2024 #ABLEtoSave campaign. #ABLEtoSave is a month-long grassroots education and informational campaign about Achieving a Better Life Experience (ABLE) accounts. The goal of #ABLEtoSave is to increase public awareness on the benefits of tax-advantaged ABLE savings and investment accounts to increase the financial well-being of people with disabilities. The ABLE National Resource Center is founded and managed by National Disability Institute.
ABLE accounts offer people with disabilities and their families a powerful tool for saving and managing funds specifically earmarked for disability-related expenses such as housing, food and medical costs. These accounts provide many benefits including, the first $100,000 of funds are disregarded as a resource and will not impact Supplemental Security Income (SSI); funds do not impact the account owner’s eligibility for other means-tested benefit programs such as Medicaid, HUD, SNAP and Social Security Disability Insurance (SSDI). ABLE accounts provide flexibility in funding sources, allowing contributions from the account owner, family members, friends, employers and other sources. ABLE investment growth is tax-free.
“#ABLEtoSave Month is an opportunity for qualified people with disabilities, their family members and supporters to learn how these accounts can increase financial stability in both daily living and long-term goal setting,” said Jody Ellis, Director, ABLE National Resource Center. “The objective of #ABLEtoSave is to equip individuals with the necessary knowledge and resources to capitalize on ABLE accounts, fostering greater financial empowerment and a better quality of life.”
This year’s campaign includes two webinars: #ABLEto$ave Opens the Door to Housing Opportunities features ABLE NRC ambassadors who will discuss how they used their ABLE accounts for home ownership; and #ABLEto$ave for Lifelong Financial Wellness, which highlights four ABLE ambassadors and their strategic use of ABLE accounts to create a better economic future for themselves or their family members.
According to ISS Market Intelligence, as of December 2023, more than162,969 ABLE accounts have been opened with $1.741 billion in assets invested; the average ABLE savings is more than $10,000.
The campaign has widespread participation from ABLE programs, including the National Association of State Treasurers (NAST), as well as major national disability groups, financial institutions and other stakeholders. Follow this year’s campaign on Facebook: @theABLENRC, Instagram: @theABLENRC, Threads: @theABLENRC and LinkedIn.
Participation partners are encouraged to use free resources in the #ABLEtoSave Public Awareness Campaign Toolkit.
The #ABLEtoSave awareness campaign is made possible through the generous support of Prudential.
About ABLE National Resource Center
ABLE National Resource Center (ABLE NRC) is the leading, comprehensive source of objective, independent information about federal and state-related ABLE programs and activities, including guidance on tax-advantaged ABLE savings accounts. Founded and managed by National Disability Institute (NDI), ABLE NRC’s goal is to provide consistent, reliable information concerning the benefits of an ABLE account. In addition, ABLE NRC aims to educate individuals with disabilities and their families, state government and legislatures, service providers, financial service companies and financial planners and attorneys – who focus on trust and estate planning – about ABLE’s potential positive impact on the lives of millions of Americans with disabilities. Visit www.ablenrc.org for more information.
Contact:
Kathy Brannigan, Communications and Marketing Director, National Disability Institute
(917) 647-4430 / [email protected]
SOURCE ABLE National Resource Center
