The CalABLE Program will officially launch on December 18, 2018. As of that date, CalABLE’s enrollment website at www.CalABLE.ca.gov will be accepting new enrollees. Instructions on how to enroll will also be easily located on the website. If you’d like to receive program updates, such as information on upcoming information sessions or webinars, please subscribe to our email listserv at this link. You can also follow us on Facebook. For more information, contact us by email at calable@treasurer.ca.gov or by phone at (916) 653-1728.
ABOUT THE CALABLE PROGRAM – For many people with disabilities, the fear of losing critical public benefits, coupled with the high cost of support expenses, has limited them from building financial security. Until recently, individuals receiving federal benefits have been restricted in the amount of money they can save, essentially keeping them in poverty and preventing them from planning for the future. With the Stephen Beck Jr. Achieving a Better Life Experience (ABLE) Act, signed into federal law by the President, these thresholds are no longer an obstacle.
In 2015, Governor Brown signed the California ABLE Act into law, which allows qualified individuals with disabilities and their families to open tax-free savings accounts without the worry of losing vital government assistance. This law establishes the California ABLE Act Board, which will administer the CalABLE Program.
The CalABLE Program will open up life-improving opportunities for people with disabilities and their families in much the same way California’s ScholarShare 529 plans formed educational opportunities for the state’s students. Contributions to an ABLE account, currently limited to $15,000 per year, can be made by family, friends, or the beneficiary themselves. The account’s earnings are allowed to accumulate tax-free, and the withdrawals, provided they are applied to qualifying disability expenses, are tax-free.
Read more about the CalABLE Program by accessing our Fact Sheet.
