Tuesday, December 3
11:00 – 12:00
Finger Lakes Independence Center
215 Fifth Street, Ithaca, NY
ABLE Accounts
Representatives from the Office of the New York State Comptroller will provide an information session on the New York Achieving a Better Life Experience (NY ABLE) Program. NY ABLE allows New Yorkers with disabilities and their families to save money in tax-advantaged accounts without impacting eligibility for federal benefit programs like SSI and Medicaid. NY ABLE features include the following:
- Earnings can grow tax-deferred, maximizing returns, and can be withdrawn tax-free if used for qualified disability expenses
- Qualified disability expenses include expenses incurred as a result of living with a disability that are intended to improve the quality of life
- Balances under $100,000 are excluded from SSI resource limits
- Medicaid eligibility is maintained, regardless of account balance
- An account can be opened with as little as $25, or only $15 if using payroll deduction
- Contributions and withdrawals can be made in many different ways, providing easy access to savings
The presentation will also cover NY ABLE eligibility requirements, annual and aggregate account contributions limits, highlights of the investments options, and more.
Registration in advance is appreciated:
