2017 #AbletoSave Month

8/1/2017

WHEREAS, according to the U.S. Census, approximately 56.7 million people – 19 percent of the population in the United States – have a disability; and

WHEREAS, many individuals with disabilities rely upon federal assistance programs, such as Medicaid and Supplemental Security Income, to foster their independence, maintain their health, support their employment, enable participation in their communities, and enhance their quality of life; and

WHEREAS, prior to the passage of the Stephen Beck, Jr., Achieving a Better Life Experience (ABLE) Act in 2014, millions of individuals with disabilities were unable to save more than $2,000 in assets without jeopardizing their eligibility for these critical federal programs; and

WHEREAS, more than 20 states have established ABLE programs through which millions of individuals with disabilities can save money in a tax-exempt “ABLE” account that does not count towards the $2,000 asset cap; and

WHEREAS, ABLEnow, the Virginia-sponsored ABLE savings program is open for nationwide enrollment at www.able-now.com; and

WHEREAS, many individuals with disabilities and their families are unaware of the life-changing potential of ABLE accounts, or are misinformed about their eligibility for an account; and

WHEREAS, the ABLE National Resource Center is a collaborative center of over 25 national disability organizations whose goal is to provide consistent, reliable information concerning the benefits of an ABLE account; and

WHEREAS, the ABLE National Resource Center has developed a nationwide campaign, #ABLEtoSave, to educate individuals with disabilities and their families, the financial sector, and other stakeholders about ABLE’s positive impact on the lives of millions of Americans with disabilities, and to enhance awareness of ABLE accounts as a financial savings tool; and

WHEREAS,the Commonwealth of Virginia recognizes August 2017 as #ABLEtoSave Month in an effort to encourage all public, consumer, community-based, and private sector organizations to provide information and resources to Virginians about ABLE accounts and ABLEnow;

NOW, THEREFORE, I, Terence R. McAuliffe, do hereby recognize August 2017 as #ABLETOSAVE MONTH in our COMMONWEALTH OF VIRGINIA, and I call this observance to the attention of all our citizens.

 

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