We’re celebrating the fifth anniversary of the PA ABLE Savings Program. Since the first PA ABLE accounts opened five years ago, Pennsylvanians have saved more than $70 million for current and future expenses. PA ABLE remains one of the fastest growing ABLE plans in the nation and is now helping more than 6,200 people save.
Family members, advocates and community partners are encouraged to let others know about the features and benefits of PA ABLE accounts.
Remember, savings in a PA ABLE account:
- May be deducted from Pennsylvania state income tax.1
- Do not affect eligibility for any federal needs-based programs with a limitation for Supplemental Security Income (SSI) benefits.2
- Can be allocated into various savings options, including an FDIC-insured checking account and six asset-allocation investment options.
- May be used to build savings and pay expenses such as rent, transportation, groceries, assistive technology, and much more.3