Post Content

Our office is pleased to provide technical assistance to our colleagues at the Massachusetts Educational Financing Authority (MEFA) regarding disability related matters and to help spread the word about the attainable Savings Plan. Recently the ABLE Act and Attainable Program have seen modifications to the program which people should be aware of.

The attainable program is made possible by the Able Act, which establishes a tax-advantaged savings account program for individuals with disabilities and their families.  An attainable account can provide the owner with federal tax benefits and may be used without affecting other disability-related benefits, such as Supplemental Security Income (SSI) benefits (up to accounts of $100,000).

When the program began in 2016 individuals could annually contribute up to $14,000.  However, recent changes to the program now allow for annual contributions of up to $15,000. The funds in these ABLE accounts allow people with disabilities to use their savings for disability-related expenses to maintain and increase independence and quality of life.

Also as of 2018, the attainable program now allows for the transfer of funds from a 529 college plan to a 529A (attainable) account without incurring any tax or penalties. Attainable account owners who meet certain criteria can also receive a non-refundable Saver’s Credit on their 2018 federal taxes.

MEFA is actively engaged with providing people with disabilities and their families information about the attainable program, please visit https://www.mefa.org/products/attainable/. Contact MEFA and they can come out and provide a seminar on how the program works; click this link to schedule your seminar today, https://www.mefa.org/attainable-seminar-request-form/.

Recent Posts

Americans with Disabilities Act Improvement Grant Program (ADA Grant Program) posted on Mar 14

The Massachusetts Office on Disability proudly introduced the Municipal Americans with Disabilities Act Improvement Grant Program (ADA Grant Program) in 2017. This grant program is aimed at supporting capital improvements specifically dedicated to improving access for individuals with disabilities in cities and towns throughout the   …Continue Reading Americans with Disabilities Act Improvement Grant Program (ADA Grant Program)

Fourth Annual Disability Summit 2018 posted on Mar 4

On October 5, 2018 the Massachusetts Office on Disability welcomed approximately 350 guests to the agency’s fourth annual Disability Summit. Held at the Partners Healthcare Assembly Row Branch, the Summit was designed to inspire state and local agencies, non-profit organizations, attendees, advocates, and individuals with   …Continue Reading Fourth Annual Disability Summit 2018

Accessible Kiosk Updates posted on Feb 25

With the steady rise in today’s technology we are starting to see kiosks at our airports, restaurants, banks, and places where employee-customer interaction was, at one time, the only means of communication. Although kiosks can often help to save time, money, and even decrease wait   …Continue Reading Accessible Kiosk Updates