Proposals to Expand Access to ABLE Accounts Introduced

Senator Bob Casey (D-PA) has introduced a suite of bills intended to expand access to and increase awareness of Achieving a Better Life Experience (ABLE) accounts. While bill text is not yet available, details of the proposals were shared via a press release.

• 4909, the ABLE Direct Deposit Act, would affirm that direct deposits from employers or government programs can be made to ABLE accounts.
• 4910, the ABLE Awareness Act, would require federal and state agencies to inform people about the existence of the program and its requirements and resources.
• 4911, the ABLE Employment Flexibility Act, would allow employers to make employer contributions to an employee’s ABLE account in lieu of a 401(k) account so that employees with disabilities can save for retirement without contributions counting against access limits for federal benefits programs.

The proposals have been referred to the Senate Finance Committee.