Official Launch: PA ABLE (Achieving a Better Life Experience)
On Monday, April 3, 2017 the Pennsylvania Treasury launched PA ABLE Savings Program through an event at the State Capitol (news release). The Institute on Disabilities was there to applaud this life-changing opportunity for people with disabilities across the Commonwealth. Treasurer Joe Torsella along with United States Senator Bob Casey, a lead author of federal ABLE legislation and Pennsylvania Senator Lisa Baker a lead author of the state legislation offered remarks about the opportunities that will now be available to people with disabilities who are PA ABLE accounts holders.
PA citizens and officials gathered in the Capitol Rotunda, Harrisburg, for Monday's ceremony. Senator Bob Casey at podium.
Through a tax free ABLE Account, people with disabilities will be able to save more money, gaining greater control of their own current and future financial position, making them more independent and more secure. Account holders will now be able to contribute up to $14,000 a year and $100,000 total without losing benefits by using the investment options available through PA ABLE. Not only can account owners save their own paychecks, family members and other loved ones will be able to contribute to these accounts. These savings can be used to cover costs of education, housing, transportation, employment and other supports, health and wellness, and assistive technology.
Visit www.paable.gov for more details about opening a PA ABLE Savings Account including eligibility requirements, restrictions, and allowable expenses.
For more information:
Voice 215-204-1356, TTY 1-215-204-1805