State Treasurer: MiABLE Program Savings Nearly Triple, Accounts Double in One Year
LANSING — State Treasurer Rachael Eubanks today announced that the Michigan Achieving a Better Life Experience program saw its savings nearly triple from $3 million to more than $10.6 million since November 2017.
Known as MiABLE for short, the 529(A) savings account program is administered by the Michigan Department of Treasury and offers investment and tax incentives for anyone who wishes to save for individuals with disabilities.
In the last year, the amount of MiABLE accounts opened has doubled from more than 1,400 to more than 2,900 with additional accounts opening every day. To raise awareness about the program and encourage additional savings, this month has been proclaimed as #AbleToSave Month in Michigan.
“MiABLE enables families the freedom to plan for the future without jeopardizing disability benefits,” Eubanks said. “This program provides long-term savings and financial planning for those who need it the most. With the added tax benefits, account holders are provided some relief on their income taxes.” Unlike traditional savings accounts, MiABLE savings are not considered when applying for other federal or state benefits, like Social Security Disability Income, Medicaid and Supplemental Nutritional Assistance Program. MiABLE accounts also allow for savings up to $100,000 without losing other financial disability benefits.
Funds from a MiABLE account are not taxed if used for qualified disability expenses, which include: education, housing, transportation, medical costs, employment training, assistive technology and personal support services, legal fee expenses for oversight and monitoring and end of life expenses.
Details: Visit www.miable.org or call 844-656- 7225. — G.G.
SBAM hosting MI Hidden Talent disability hiring workshop this fall
LANSING — The Small Business Association of Michigan today announced it is presenting the MI Hidden Talent Workshop to help companies be intentional about hiring people with disabilities.
The free, one-day training seminar, provides resources, strategies and best practices for hiring and retaining Michiganders with disabilities. The event is open to small business owners, business leaders and HR leaders and will take place on Oct. 28 at the Kellogg Center in East Lansing.
“People with disabilities have to show tremendous creativity, perseverance and determination to achieve what many people take for granted,” said SBAM President Brian Calley. “The MI Hidden Talent Workshop will provide small businesses with helpful strategies and resources to successfully add these talented and capable Michiganders to their workforce.”
The keynote speaker for this year’s workshop will be PNC’s Vice President of Human Resources and Accessibility Officer Greg Pollock. Greg leads PNC’s disability strategy and efforts to enhance inclusion at PNC. Pollock previously led diversity and inclusion efforts for the Dow Chemical Company. SBAM is proud to have Delta Dental as the title sponsor of the 2019 MI Hidden Talent Workshop. The MI Hidden Talent initiative was created in 2016 by Calley in partnership with Michigan Supreme Court Justice Richard Bernstein to help business owners intentionally hire Michiganders with disabilities.
More information and registration details are available at www.sbam.org. — G.G.