Washington, DC, Aug. 07, 2025 (GLOBE NEWSWIRE) — August 14, 2025, marks the second annual national ABLE Savings Day, hosted by the ABLE Savings Plans Network (ASPN) of the National Association of State Treasurers (NAST)! ABLE savings plans across the country are celebrating the value and importance that these plans bring to people with disabilities.
“We’re dedicated to raising awareness about the benefits of ABLE accounts,” said Bette Ann Mobley, Director of Maryland ABLE and Chair of ASPN. “ABLE Savings Day underscores the importance of these accounts, which help to support independence, build confidence, encourage employment and improve quality of life.”
The Stephen Beck, Jr. Achieving a Better Life Experience Act (ABLE Act) became law on December 19, 2014. The ABLE Act created an opportunity for eligible individuals with disabilities and their families to save and invest while preserving eligibility for public benefits.
ABLE accounts can change the way individuals with disabilities and their families participate in the community, build financial wellness and plan for the future. Funds in the accounts can be used to pay for disability-related expenses that help maintain the individual’s health, independence and quality of life – all without losing access to federal means-tested benefits.
According to the National Association of State Treasurers, more than 195,000 Americans with disabilities have collectively saved $2.3 billion in ABLE accounts. With an average account balance of more than $11,000, ABLE accounts are empowering many to save more than asset limits for much-needed expenses. More data can be found here.
Eligible individuals of any age can open an ABLE account. Beginning in January 2026, more Americans will be able to utilize these accounts thanks to a law passed by Congress. The ABLE Age Adjustment Act increases the age requirement for when a disability must have begun from age 26 to age 46.
Contributions to ABLE accounts can come from earnings, family, friends and other sources. Earnings on the investments in an ABLE account grow free from state and federal taxes and are never taxed when used for qualified disability expenses.
For more information about ABLE Savings Plans, visit the National Association of State Treasurers’ ABLE today website here.