National ABLE to Save Month Drives More IAble Account Contributions
State Treasurer Michael L. Fitzgerald announced today that more Iowans are choosing to invest in IAble accounts following National ABLE to Save month, a month-long informational campaign to raise awareness about Achieving a Better Life Experience (ABLE) programs. Signed into Iowa law in 2015, IAble allows families the opportunity to plan for the future financial well-being of a loved one with a disability.
“IAble is designed to provide disabled individuals a tax-advantaged way to build financial futures and achieve a better life experience,” Fitzgerald said. “With accounts in over half of Iowa’s counties, it is encouraging to see disabled individuals, as well as friends and family, contributing towards their financial goals.” Requiring only $25 to get started, anyone can contribute to an IAble account.
The federal Achieving a Better Life Experience (ABLE) Act of 2014 authorized tax-advantaged investment accounts similar to college savings programs such as College Savings Iowa. With ABLE accounts, eligible individuals and their families are given the opportunity to establish financial stability without losing eligibility for federal assistance such as SSI or Medicaid. IAble has over $1.6 million in assets at the conclusion of the National ABLE to Save month.
For more information about IAble, please visit IAble.gov or call (888) 609-8910. Keep up with all of our programs on social media (Facebook and Twitter @IowaTreasurer).