Members of the disability community shouldn’t have to struggle to build financial security because of the risk of losing public benefits and the high cost of expenses. With CalABLE, you can save for needs and dreams, and afford to live your best life.
CalABLE is a tax-advantaged savings account that helps people with disabilities achieve financial security and independence without losing public benefits.
From CalABLE:
“SSI has strict resource limits, meaning individuals cannot have more than a certain amount of assets without risking their eligibility for benefits. The CalABLE account provides individuals with disabilities a way to save and invest money without jeopardizing their eligibility for SSI benefits.
CalABLE also offers an ‘ABLE to Work’ plan within the CalABLE account. The ABLE to Work plan allows certain CalABLE account owners who work and earn income to contribute above the annual ABLE contribution limit.
To be eligible, the ABLE account holder, or their employer, cannot contribute to a defined contribution plan such as a 401(a), 403(a), or 401(k) plan; an annuity such as a 403(b) contract; or an eligible deferred compensation plan, such as a Section 457(b) plan in the calendar year.”
If you have any questions or want to learn more, visit CalABLE at Home – CalABLE
