Briese Celebrates Able to Save Day

(Lincoln) Today Treasurer Tom Briese joined with disability advocates across the country to national ABLE to Save Day. This day is dedicated to raising awareness about ABLE (Achieving a Better Live Experience) accounts, which are tax-advantaged savings accounts specifically designed to encourage persons with a disability to save for future qualified disability expenses. 

These accounts allow eligible individuals to save money for disability-related expenses without jeopardizing their eligibility for public benefits. Federal legislation creating the plan was passed in August of 2015. Nebraska’s plan, the Enable Saving Plan was officially launched in July of 2016 and is available to participants nationwide. 

“For our friends in the disability community, fiscal struggles can hit a little harder. With an Enable Savings plan, we are giving these folks a powerful tool to be able to handle some of life’s challenges,” Briese said.

Since its inception, Enable has reached more than $50 million in assets under management and more than 4,500 accounts. Throughout the next year, the Enable program will host a variety of events to mark the 10 years of this successful program.

Briese also encourages Nebraskans to make use of www.Givetoenable.com, a new, free-to-use crowdfunding website designed to help Enable Savings Plan owners to achieve a better life experience.

Anyone who donates on the Givetoenable.com crowdfunding platform and files a Nebraska state income tax return will be able to take advantage of up to a $10,000 Nebraska income tax deduction ($5000 for married taxpayers filing separately). Contributions made to an Enable account from the website will count towards the annual $19,000 contribution limit.

Give To Enable will allow participants to raise needed funds through donations from family, friends, and others, similar to sites such as GoFundMe or Kickstarter. Funds donated through Givetoenable.com will go directly into the individual account owner’s Enable account and will not impact their benefits unlike a traditional crowdfunding webpage.

Enable is also excited for a huge expansion of individuals who are eligible to utilize this tax-advantage plan. Effective Jan 1, 2026, the ABLE age adjustment will take effect, which will allow ABLE accounts nationwide to increase the age of the onset of the disability for eligibility from 26 to 46. This will open ABLE accounts to an estimated additional 8 million more Americans, including veterans. 

For more information about the Enable Savings Plan visit https://www.enablesavings.com/.