ABLE Act aims to ease financial strain for Hoosiers with special needs

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Gov. Pence signs ABLE Act into law, meant to ease financial strain for Hoosiers with special needs

INDIANAPOLIS, Ind. (March 21, 2016)– Indiana Governor Mike Pence signed the Achieving a Better Life Experience Act (Senate Enrolled Act 11) into law Monday.

The ABLE Act creates a savings program for Hoosiers to allow them to better provide for their loved ones with special needs. They can save money for disability-related costs without putting their other benefits at risk.

It’s meant to ease financial strain by making tax-free savings accounts available for expenses like education, housing, health care and transportation.

The accounts are similar to a college choice 529 direct savings plan

“Hoosiers with disabilities face enormous financial hurdles and planning for the future becomes a daunting task,” said Governor Pence. “Today as we sign the ABLE Act into law, we open a financial door for individuals with disabilities and empower them to save in a way that enables them to experience life to its fullest.”

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