Author: Diane Stewart, Enable Outreach Specialist
Our mission at Enable Alabama is to make our Account Owners’ savings journey as simple and transparent as possible. To help you stay on track with your savings goals and keep you informed about your account, we’ve highlighted a few of the most common questions we receive from Account Owners.
What is an exclusion from a countable resource for SSI?
The Social Security Administration (SSA) will exclude from an Account Owner’s countable resources a distribution for a Qualified Disability Expense other than housing if it is retained beyond the month received. This exclusion applies as long as:
- The Account Owner maintains, makes contribution to, or receives distributions from the ABLE account;
- The distribution is unspent; and
- The distribution is identifiable.
Can funds from 529 plans be rolled over into my Enable Alabama account?
Yes, families can roll over funds from a 529 plan into another family member’s ABLE account. Keep in mind, the ABLE Rollovers and Transfers from Section 529 Plans must be for the same beneficiary as the 529 account or for a member of the same family as the 529 Account Owner. The total amount of rollovers from a section 529 plan count toward the total annual contribution limit of $15,000.
How can I stay up to date with the latest Enable Alabama news?
Enable Alabama offers many resources including webinars and newsletters to help Account Owners stay informed about finances, plan updates, partnerships and participation in community events throughout the year. Make sure to check out our newsletters, keep up with our blog and follow us on Facebook to stay in the know on all things Enable Alabama.
Do you have a question that’s not listed above? Send it to us by emailing firstname.lastname@example.org.