Colorado ABLE provides a diverse menu of tax-advantaged savings
plans to help persons with disabilities save for their futures and
promote independence while protecting their eligibility for public
assistance programs.
DENVER, Aug. 14,
2024 /PRNewswire-PRWeb/ -- Colorado ABLE, a
tax-advantaged savings program for people living with disabilities,
joins ABLE programs around the country to mark ten years of
financial empowerment to the disability community by celebrating
National ABLE Savings Day today.
"We are proud to provide enhanced saving
opportunities to Coloradoans who experience disability. Fostering
financial wellness and independence, especially for those who need
some additional support, is just one more thing that makes
Colorado great." Angela Baier
While earnings on the investments in ABLE accounts grow state
and federal tax-free and are never taxed when used for qualified
disability expenses, Colorado ABLE was enhanced in 2022, adding a
dollar-for-dollar Colorado State tax
deduction for contributions, and eliminating the so-called Medicaid
clawback on unused savings.
Colorado's college savings
experts, CollegeInvest, administers the Colorado ABLE program.
"We are proud to provide enhanced saving opportunities to
Coloradoans who experience disability," said Angela Baier, chief executive officer for
CollegeInvest. "Colorado was one
of the first states to prioritize greater opportunities for our
neighbors with disabilities with added tax savings for
contributions to Colorado ABLE accounts. Fostering financial
wellness and independence, especially for those who need some
additional support, is just one more thing that makes Colorado great."
The Stephen Beck, Jr. Achieving a Better Life Experience Act
(ABLE Act) was enacted in 2014 to provide savings opportunities to
individuals with qualified disabilities and their families to save
for the future while protecting eligibility for public benefits.
Colorado ABLE was launched in 2017, giving Coloradoans with
disabilities the opportunity to save and invest for their future
and build financial wellness. These accounts help save money needed
to pay for the added expenses that come with having a
disability.
To learn more about Colorado ABLE, go to
http://www.coloradoable.org or call (303) 376-8833.
About Colorado ABLE
Colorado ABLE (Coloradans Achieving a Better Life Experience) is
Colorado's savings program for
people living with disabilities. A not-for-profit agency within the
Colorado Department of High Education that receives no taxpayer
funding, Colorado ABLE provides a diverse menu of tax-advantaged
savings plans to help persons with disabilities save for their
futures and promote independence while protecting their eligibility
for public assistance programs. Colorado ABLE currently has 3,190
active accounts and $34 million in
Assets Under Management. Learn more at http://www.coloradoable.org
or call (303) 376-8833.
Media Contact
Susan Hagar, Colorado ABLE, 720
935 1777, susanmhagar@gmail.com, www.coloradoable.org
Mike Blake, Colorado ABLE, 303
376 8809, mblake@collegeinvest.org, www.coloradoable.org
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SOURCE Colorado ABLE