With the passage of the federal ABLE Act, millions of Americans with disabilities have been empowered to reach a new level of control when it comes to achieving greater financial security. ABLE accounts are a new savings option that allow individuals, who became disabled before the age of 26, to save and invest in a tax-advantaged account, without jeopardizing their ability to collect SSI.
In the past, individuals with disabilities didn’t have the freedom or flexibility to keep money in their own name, receive an inheritance, or even save to purchase much needed assistive technology. That’s because saving for the future meant the possibility of losing eligibility for programs like SSI or Medi-Cal.
CalABLE December Board Meeting @State Treasurers Office
915 Capitol Mall, Room 587, Sacramento, CA 95814