LANSING, Mich., Aug. 13, 2024 — On Aug. 14, ABLE (Achieving a Better Life Experience) plans nationwide are celebrating the first ABLE Savings Day to help individuals learn how vital these tax-advantaged savings programs are to Americans with disabilities. This awareness day comes almost a decade after the federal ABLE Act was signed into law in 2014. Michigan’s ABLE (MiABLE) program was signed into law in 2015. As chair of the Legislative Disability Caucus, state Rep. Sharon MacDonell (D-Troy) issued the following statement marking ABLE Savings Day:
“Helping Michiganders with disabilities afford necessary expenses is a top priority of mine, and I’m proud that our state was one of the earliest adopters of the ABLE program. I’ve introduced House Bill 5781 to improve access to MiABLE accounts so more Michiganders can thrive.
“To celebrate the first-ever national ABLE Savings Day, those opening an eligible MiABLE disability savings account in August will receive up to a $100 match. Opening an account only takes about 15 minutes, but it can be life-changing. I truly hope more Michiganders will utilize this opportunity available to them. It’s unfortunate that while nearly 500,000 individuals are eligible to open MiABLE accounts, only 1% are currently enrolled.
“During August and every other month, I strive to promote this valuable resource to as many Michiganders as possible. MiABLE provides much-needed financial independence, and it’s our responsibility to get the word out!”
For more information on how the program works, please visit https://www.michigan.gov/setwithmet/mi-529/miable.
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