Savings program helps disabled individuals

Disabled people can take advantage of a tax-exempt savings program.
Disabled people can take advantage of a tax-exempt savings program.(unknown | Storyblocks.com)
Published: Aug. 8, 2022 at 4:40 PM CDT
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LINCOLN, Neb. (Press Release) - Governor Pete Ricketts and Treasurer John Murante Monday recognized the importance of the Achieving a Better Life Experience Program for individuals with disabilities and their families by declaring August #AbleToSave month. They were joined by Enable account holder Hadley Kolm and her parents Kurt and Melissa.

In 2014, the federal ABLE act was signed into law authorizing individuals with disabilities to open tax-exempt savings accounts to save for disability-related expenses without impacting eligibility for resource-based benefits. The Act permits individuals with disabilities to save more than a total of $2,000 in assets in a qualified ABLE account. In Nebraska, the savings program is known as the Enable Savings Program and is administered by the Nebraska State Treasurer’s Office.

“In 2015, the Unicameral unanimously passed legislation to bring the ABLE program to Nebraska,” said Governor Pete Ricketts. “The Enable Savings Program allows individuals with disabilities to make investments and grow their savings without losing other needed benefits. Thank you to the Nebraska Treasurer’s Office for capably administering the program and raising awareness of it this month.”

“By declaring August #AbleToSave Month we are encouraging all Nebraskans that qualify for the program to open an account,” Murante said. “We are also encouraging public and private community-based organizations to provide information and resources to residents of Nebraska about the importance of Enable accounts.”

Nebraska’s Enable Savings Program, the third program in the country to launch, is supporting the ABLE National Resource Center’s nationwide campaign, #AbleToSave, to educate individuals with disabilities and their families, financial institutions, employers, and other stakeholders about ABLE’s potential positive impact on the lives of Americans with disabilities

For more information, visit www.enablesavings.com

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