California Becomes 41st State to Launch ABLE Program
According to a recent newsletter from the ABLE National Resource Center, California has launched CalABLE, California’s new Achieving a Better Life Experience (ABLE) program. “CalABLE will allow individuals with disabilities to open tax-advantaged accounts and contribute significantly more than the $2,000 asset limit under many public benefit programs.
“We congratulate the state of California for their opening of the CalABLE program, which will offer individuals with disabilities and their families, who are California residents and others nationwide, the opportunity to save and set financial goals that advance their financial stability and independence. For eligible individuals with disabilities and their families, opening and contributing to an ABLE account represents a down payment on freedom,” stated Kennedy of the ANRC, which is managed by National Disability Institute.”
“In a season in which so many celebrate life and our highest ideals, we are announcing the long overdue steps California is taking to help individuals with disabilities achieve a better life experience,” Treasurer Chiang, said. “CalABLE will empower people with disabilities to create their own safety net and build wealth because living with a disability should not equate to living a life of poverty.”