New ABLEnow Program to Financially Empower People with Disabilities Virginia’s anticipated ABLE savings program opens Dec. 19 for national enrollment.
RICHMOND Va.—Now, individuals with disabilities will be able to save for the future without endangering eligibility for certain benefit programs critical to their health and well-being. ABLEnow, the Virginia-sponsored ABLE savings program, opens for nationwide enrollment on Dec. 19, 2016—on the two-year anniversary of when the federal Stephen Beck, Jr. Achieving a Better Life Experience (ABLE) Act was signed into law. Eligible individuals can open an account online at able-now.com starting Dec. 19.
Virginia will be among the first states in the country to offer an ABLE program, which provides people with disabilities and their families the opportunity to save money for today’s needs or invest for tomorrow in a simple, affordable and tax-advantaged account.
“We’re proud that the idea for ABLE accounts emerged about a decade ago from a group of Virginia parents,” said Mary Morris, CEO of Virginia529, the agency that will administer the new ABLEnow program. “After years of working alongside disability advocates on federal and state-level ABLE legislation, Virginia529 is thrilled to open ABLEnow for individuals with disabilities and their families, both in Virginia and across the country.”
To bring ABLEnow to life, Virginia529 College Savings Plan has partnered with PNC Bank, N.A., a member of The PNC Financial Services Group, Inc., one of the largest diversified financial services institutions in the United States. ABLEnow will leverage technology that successfully powers the PNC Health Savings Account (HSA) platform, resulting in an ABLE program that’s efficient and easy to manage, supplying choice and control to account owners. Program enhancements will continue throughout the months ahead.
To celebrate this milestone for the disability community, ABLEnow will hold a launch event on Monday, Dec. 19 at the Lee Center, 1108 Jefferson Street in Alexandria, Va. A news conference is scheduled for 10:30 a.m., followed by ABLEnow information sessions starting at 11:30 a.m. and 1 p.m. The event will feature remarks from individuals who helped make ABLEnow a reality, the opportunity to ask questions and enroll in the program, food and celebratory activities.
To follow ABLEnow updates, learn more and open an account after launch, please visit able-now.com.
About Virginia529 College Savings Plan:
Virginia529 makes higher education more accessible and affordable for families and individuals. With more than $57 billion in assets under management and 2.4 million accounts as of August 31, 2016, Virginia529 is the largest 529 plan available. Four flexible, affordable, tax-advantaged programs–Virginia529 prePAIDSM (prePAIDSM), Virginia529 inVESTSM (inVESTSM), CollegeAmerica® and CollegeWealth®–and early commitment scholarship program SOAR Virginia® assist students of any age in reaching their higher education goals. For more information on Virginia529’s college savings options, visit Virginia529.com or call 1-888-567-0540 to obtain program materials.
In December 2016, Virginia529 expands its mission and launches ABLEnow, the Virginia-sponsored ABLE savings program for eligible individuals living with disabilities. Call 1-844-NOW-ABLE or visit able-now.com to obtain information on the program. Seek the advice of a professional concerning any financial, tax, legal or federal or state benefit implications related to opening and maintaining an ABLEnow account. Participating in ABLEnow involves investment risk including the possible loss of principal. For non-Virginia residents: other states may sponsor an ABLE plan that offers state tax or other benefits not available through ABLEnow. © 2016 Virginia College Savings Plan. All Rights Reserved.
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