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Treasurer Fitzgerald Recognizes Working Individuals with Disabilities

April 29, 2021

DES MOINES, Iowa – State Treasurer Michael Fitzgerald, administrator of Iowa’s ABLE plan, IAble, encourages individuals with disabilities to consider saving with the plan – especially if they are earning an income. “IAble provides financial security and independence for individuals with disabilities who want to save money and maintain federal benefits,” said Fitzgerald. “Plus, account owners who are working have additional benefits when saving with the plan.”

Under the ABLE to Work Act, eligible working ABLE account owners can contribute more than the $15,000 federal annual contribution limit. The additional contribution amount is based on the prior year’s federal poverty level for a one-person household or the account owner’s gross wages, whichever is less.

“Since the poverty level in 2020 was $12,760, the total contribution amount for an eligible IAble account owner could be as high as $27,760 in 2021,” said Fitzgerald. “This means account owners can have flexibility, financial freedom and important benefits while employed.”

IAble allows eligible individuals with disabilities, and their families, to invest and save for qualified disability-related expenses such as housing, assistive technology, healthcare and more.*  Account assets are protected from determining eligibility for assistance programs such as Supplemental Security Income (SSI) and Medicaid. Plus, any Iowa taxpayer, not just account owners, can deduct up to $3,474 in contributions from their 2021 state income taxes.** This allows working and non-working account owners to maximize tax benefits and encourage loved ones to help them achieve their dreams.

Over 1,070 individuals with disabilities are saving with IAble and $9 million is invested in the plan, with an average account balance of over $8,454. To learn more about the plan, visit or call (888) 609-8910. Keep up with all of the Treasurer’s programs on Facebook and Twitter.


*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.

**Adjusted annually for inflation. If withdrawals are not qualified, the deductions must be added back to Iowa taxable income.  

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