Increasing Resources, Savings and Investments for People with Disabilities
How VR, Employers & National Organizations Can Work Together to Expand Strategies & Policies for the Disability Community
Expanding Financial Empowerment And
Community Inclusion For People With Disabilities
Panelists
Sara Hart Weir
Executive Director, Kansas Council on Developmental Disabilities/
Senior Advisor
ABLE today
Ashlea Lantz
Senior Policy Advisor, The Harkin Institute for Public Policy and Citizen Engagement
https://harkininstitute.drake.edu
Tom Harkin Collection
800
Boxes of
Documents
2.5
Terabytes of Electronic Data
1
Popcorn Machine
40
Years of Service
Institute Issue Areas
Tom and Ruth Harkin Center: Drake University
Scaling Disability Driven Innovation
https://harkininstitute.drake.edu/wp-content/uploads/sites/103/2020/12/Harkin-Summit-Innovative-Practices-Report.pdf
��International Harkin Summit on Disability Employment
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ABOUT SHRM
SHRM is a member-driven catalyst for creating better workplaces where people and businesses thrive together. As the trusted authority on all things work, SHRM is the foremost expert, researcher, advocate, and thought leader on issues and innovations impacting today’s evolving workplaces. With nearly 340,000 members in 180 countries, SHRM touches the lives of more than 362 million workers and their families globally.
As the voice of all things work, workers and the workplace, SHRM is the foremost expert, convener and thought leader on issues impacting today’s evolving workplaces — ensuring inclusion and a commitment to employing individuals with disabilities.
Why #PledgeInclusion?
By promoting diverse, equitable, inclusive, and accessible workplaces for people with disabilities, HR professionals can lead the discussion on this critical topic and benefit from the skills and talents of workers with disabilities while directly contributing to major long-term business objectives, including:
www.pledgeinclusion.shrm.org
Image of a young woman in a wheelchair working on her laptop
The ABLE Act
All images show the advocacy effort to pass the ABLE Act in 2014
Consider your home state’s program first for instate incentives, or research ABLE programs offering nationwide enrollment.
46 STATES + DC
There are currently more than 162,000 total ABLE accounts - increasing every day.
162,000+ Total Accounts
ABLE ACCOUNTS | BY THE NUMBERS
ACCOUNTS ARE OFFERED THROUGH STATE-RUN ABLE PROGRAMS
People with disabilities and their families believe are using ABLE accounts as savings, checking and investments accounts. The amount of money flowing through this vehicle keeps growing and growing.
ABLE Data Source: National Association of State Treasurers
Over $1.74 Billion in Nationwide ABLE accounts
VISIT OUR WEBSITE TO FIND YOUR STATE'S PROGRAM: ABLETODAY.ORG/ABLE-PROGRAMS
IMAGINE… If People with Disabilities Could...
Work without having to “spend down” their current or future income
Move from a
monthly
financial plan to a
lifetime
financial plan
Save money in their own names – and more than just $2,000
Accumulate wealth without losing their eligibility for benefits
ABLE ACCOUNTS MAKE THESE CHOICES POSSIBLE
Who is Eligible for an ABLE Account?
Young boy with headphones on
ABLE accounts are for individuals whose disability began before age 26. Eligible individuals can open an ABLE account at ANY age.
1
2
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The disability must be long-term (more than 12 months) and must cause “marked & severe functional limitations.”
You are eligible for SSI or SSDI; or a doctor has diagnosed you with a disability (physical or mental).
26 YEARS OLD
LONG-TERM
DIAGNOSIS
Note: You do not have to be on public benefits to open an ABLE account
How Do You Open an ABLE Account?
Almost all ABLE Programs have online enrollment
Computer screen shows ABLE today website with state ABLE programs
See abletoday.org/able-programs for more info and examples
Find Your ABLE Program
ABLE Programs allow you to either enroll in a bank branch, enroll online and/or submit a paper application
Most programs let you enroll from anywhere
The individual with the disability can open and manage their own account, or a support person can oversee account management
Flexible Enrollment
How much can you contribute?
ABLE ACCOUNTS HAVE ANNUAL CONTRIBUTION LIMITS BASED ON
THE IRS GIFT TAX EXCLUSION and EMPLOYMENT STATUS
ANNUAL
Contributions can come from any source including directly from the ABLE account enrollee, family, friends, organizations, nonprofits, and employers
$18,000
BALANCE LIMITS
Programs also have balance limits that differ by State ($300,000-$500,000+)
~$400,000+
IF EMPLOYED
The person with the disability can contribute up to an extra $14,580 more every year, if they are not contributing to their workplace retirement account
$32,580
SPENDING YOUR FUNDS
Housing and Rent
Assistive Technology
Basic Living Expenses
Financial Management
Transportation
Health & Wellness
Education
Legal Fees
A “Qualified Disability Expense” (QDEs) is anything that relates to the disability and
helps maintain or improve health, independence, or quality of life
https://kansascash.ks.gov/able_roadshow.html
Kansas ABLE Savings Opportunity Grant
Individuals on the I/DD waitlist or their loved ones can follow these three steps to receive this $100 Kansas ABLE Savings Opportunity Grant:
For questions, please contact: ABLEgrant@treasurer.ks.gov (785) 250-2896
SVRA Application Considerations: SHRM
SVRA Application Considerations: ABLE Today
Contact Us
Sara Hart Weir
Executive Director, Kansas Council on Developmental Disabilities/
Senior Advisor
ABLE today
Ashlea Lantz
Senior Policy Advisor, The Harkin Institute for Public Policy and Citizen Engagement
https://harkininstitute.drake.edu