The National Association of State Treasurers Foundation Launches New National Initiative to Advance Financial Empowerment for People with Disabilities 

ABLE today™ will serve as a national outreach and engagement platform for increasing awareness and promoting the positive impacts of ABLE Accounts

(June 15, 2022 — Washington, D.C.) The National Association of State Treasurers Foundation (NAST Foundation) has launched ABLE today, a nationwide initiative that seeks financial empowerment and community inclusion for people with disabilities.  

ABLE today will pursue this vision by leading a collaborative national outreach and awareness effort about the benefits of ABLE accounts.  This effort includes providing ABLE education to the disability community, establishing partnerships with stakeholders, and engaging employers on the benefits ABLE provides as a tool toward Diversity, Equity, and Inclusion (DE&I). Visit www.abletoday.org to learn more about this national initiative. 

ABLE accounts are a relatively new financial tool for people with disabilities.  They were made possible by the 2014 Stephen Beck Jr. Achieving a Better Life Experience (ABLE) Act, which created a savings and investment account specifically for people with disabilities. ABLE accounts allow people with disabilities to have money that is not counted towards asset limitations set by means-tested benefit programs like Medicaid or SSI. These asset limits prevent people with disabilities from saving money beyond $2,000 and planning for their future. 

Now, through an ABLE account, people with disabilities have: 

• the opportunity to save over a $2,000 limit;

• the ability to accumulate wealth without jeopardizing eligibility for benefit programs;

• the option to finally save for a down payment on a home;

• the choice to work more and save more income; and

• the empowerment of changing their financial plan from monthly to yearly.

“ABLE accounts are one of the most impactful public policies for people with disabilities since the Americans with Disabilities Act (ADA) of 1990. With this new initiative, the NAST Foundation is demonstrating commitment to connecting people with disabilities, their families and caregivers to these powerful financial tools. Coordinating a national campaign with ABLE Programs and national partners will support the increase in awareness of these game changing accounts,” said NAST Foundation Chair and Connecticut State Treasurer, Shawn Wooden.

Catherine Beck, disability advocate and wife of the late Stephen Beck Jr., added, “Our family applauds the advocacy work that led up to the passage of the landmark ABLE Act, and the incredible work being done by the NAST Foundation and all ABLE programs on a daily basis. The ABLE program has been life-changing for our daughter, Natalie, to save for her future just like our family does for her sister. We are honored to be part of ABLE today and firmly believe this is the next big chapter in the ABLE journey to expand awareness, outreach and education to people with disabilities and their families.” 

Jointly with the NAST Foundation in March 2022, the Wells Fargo Foundation announced Wells Fargo’s founding philanthropic support for ABLE today. “Wells Fargo is committed to empowering people with disabilities to prepare for more independent, secure futures,” said Bonnie Wallace, head of Financial Health Philanthropy for the Wells Fargo Foundation. “ABLE today will connect more people with this vital financial tool, and we are proud to be the initiative’s founding supporter.”  

“The NAST Foundation is passionate and enthusiastic to be leading a first of its kind, coordinated national campaign alongside our ABLE Program members to increase awareness of these impactful accounts and foster the opportunity for people with disabilities to save and invest in their future. ABLE today will expand on disability advocacy work through engagement and outreach on how ABLE accounts can serve as a financial empowerment choice for people with disabilities,” said the NAST Foundation’s ABLE today Director Eric Ochmanek.

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About the NAST Foundation

In 2000, the National Association of State Treasurers (NAST) created the NAST Foundation to promote and improve the educational initiatives of the association and its members. Foundation supported programs provide for the enhancement of public officials’ understanding of the public financial arena and delivered education to the public about personal financial management. For more information, please visit https://nast.org/foundation/ or contact Catherine Seat - catherine@statetreasurers.org. 

About ABLE today™

ABLE today, launched by the National Association of State Treasurers Foundation (NAST Foundation) in 2022, is a national awareness and educational initiative aimed at advancing financial empowerment and community inclusion for people with disabilities through ABLE accounts. ABLE today supports a collaborative, national effort for expanding outreach for ABLE Programs to the disability community and establishing partnerships to promote the positive impacts of ABLE accounts. For more ABLE information or to partner with ABLE today, please visit www.abletoday.org or contact the ABLE today team at info@abletoday.org.