Treasurer Fitzgerald Announces Price Reduction to IAble Accounts
Des Moines, Iowa – State Treasurer Michael Fitzgerald is excited to announce a price reduction for individuals saving with IAble. “One of the most significant aspects of IAble is it allows an individual with a disability to pursue financial freedom,” said Fitzgerald. “With this reduction to the quarterly account maintenance fee, they can keep more money in their account and ultimately save for things important to them.” The price reduction, effective July 1, will reduce the quarterly fee by 43% for those enrolled in e-delivery. A reduction is also in effect for those enrolled in paper statement delivery.
IAble is Iowa’s Achieving a Better Life Experience (ABLE) savings plan and was created to help individuals with disabilities save money while maintaining eligibility for assistance programs. The money in an account can be used to help the account owner pay for qualified disability-related expenses such as housing; employment training and support; assistive technology; transportation and wellness.* IAble account owners have saved more than $14 million to pay for such expenses.
“By saving with IAble, individuals with a disability and their support systems can prepare for the additional disability-related expenses they face,” continued Fitzgerald. “Whether they are saving for day-to-day expenses or have long-term plans, the Plan continues to be of great value to those saving for their version of a better life experience.”
*Earnings on non-qualified withdrawals may be subject to federal income tax and a 10% federal penalty tax, as well as applicable state and local income taxes.