It's here: Attainable, the ABLE Savings Plan
Back in July we announced our excitement about our new role as state sponsor of the Achieving a Better Life Experience (ABLE) account program for the Commonwealth of Massachusetts. And it is therefore with great enthusiasm that we announce the launch of the Commonwealth's ABLE Savings Plan, Attainable. This historic program establishes tax-advantaged savings accounts for individuals with disabilities to spend on disability-related expenses. These accounts do not impact federal means-tested benefits eligibility, a significant and momentous difference from all other assets, and will foster the independence and financial welfare of thousands of individuals.
We joined with Governor Charlie Baker today at the State House as he officially launched the Attainable Savings PlanSM. The program includes additional key benefits, including:
- Anyone has the ability to contribute to an account, and funds can be easily deposited into an account online anytime
- Account owners won't pay taxes on account earnings, as long as they're spent on qualified disability-related expenses
- Several investment options, professional managed by Fidelity Investments, are available, which means you can alter how you save based on anticipated expenses
- Qualified disability-related expenses are broadly defined and include those related to education, housing, transportation, employment training and support, assistive technology and related services, personal support services, health, and basic living expenses
If you or someone you know is interested in opening an Attainable Savings Plan account, point them to fidelity.com/attainable. There you'll find full details on the program and information on how to open an account. And if you have questions about Attainable, we're here to help. Reach out to us at (800) 449-MEFA (6332) or email@example.com. We look forward to helping empower individuals with disabilities and their families to save for a financially independent and secure future.