Promoting Access and Inclusion in ABLE Programs: New Opportunities for Savings, Financial Inclusion, and Economic Security for Individuals with Disabilities and Their Families
The Federal Reserve Banks of Atlanta and St. Louis, the National Disability Institute and the ABLE National Resource Center, and Washington University's Center for Social Development hosted a forum in Atlanta to bring together a select group of leaders in the financial, disability, and 529 savings communities. The event occurred July 26–27.
In 2014, the Achieving a Better Life Experience (ABLE) Act was signed into law. It created tax-advantaged savings accounts for individuals with disabilities. Several states have launched ABLE programs, including Florida and Tennessee in the Atlanta Fed's District, and several more states plan to do so.
The forum engaged leaders to:
- Better understand the financial challenges that often accompany living with a disability or being a caregiver for an individual with a disability
- Discuss the potential impact of ABLE on individuals with disabilities and their family members
- Identify lessons from 529 College Savings Plans about how to maximize and promote the benefits of having an ABLE account to individuals with disabilities and their families.
Financial and disability leaders from across the country participated in this important discussion to increase awareness and understanding of the potential opportunities and impact of ABLE accounts to foster economic inclusion, stability, and security for people with disabilities.