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The ABLE Employer Toolkit: A Resource for Supporting Employees Impacted by Disability

The last week in February is America Saves Week, an annual call to action for Americans to commit to saving to achieve financial stability. Employers are encouraged to use the occasion to educate employees about strategies for savings success. To help, the U.S. Department of Labor's Employee Benefits Security Administration offers Savings Fitness Worksheets and a number of other resources.

For employees with disabilities or those who have family members with disabilities, the need to pay disability-related expenses could affect their ability to save for the future. A new resource can help employers support the savings goals and financial well-being of these employees.

The ABLE Employer Toolkit offers a range of tools and resources businesses can use to educate employees about tax-advantaged ABLE accounts for youth and adults with disabilities. Assets in these accounts named for the Achieving a Better Life Experience (ABLE) Act that authorizes them can be used to pay any qualified, disability-related expense and are not counted when determining eligibility for public benefits such as Supplemental Security Income and Medicaid.

For employees with disabilities who work, this could mean the ability to stay on the job and save earnings without jeopardizing eligibility for benefits needed now or in the future. For parents of children with disabilities, ABLE accounts expand options to save toward their child's future education and employment.

The ABLE Employer Toolkit provides materials businesses of all sizes can use to inform employees about ABLE accounts, such as during onboarding or periodic employee education. It also suggests ways employers can incorporate ABLE accounts into their benefits package through an employee match program.

When an employee has a disability or a family member with a disability, a supportive employer goes a long way in helping to balance work and home responsibilities, including financial matters. Spreading the word about ABLE accounts during America Saves Week or any week sends a clear signal that a business is committed to supporting all employees to save and plan for their future.

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