Author: Alabama State Treasurer John McMillan
With 2020 just around the corner, the Enable Savings Plan Alabama team is filled with excitement for a new year. Before we forge ahead with our savings resolutions and financial fitness goals for the next 12 months, we’d like to share some of the highlights that Enable Alabama experienced in 2019.
At the start of this year, Enable Alabama Account Owners were able to take advantage of Account Rollovers for the first time, which, per the recent tax reforms, allow funds from a 529 plan to be transferred into an ABLE account so long as the account is for the same beneficiary. These rollovers, which are not federally taxed, provide Enable Alabama Account Owners with greater flexibility as well as the freedom to use their savings where they are most needed without facing penalties. More information about Account Rollovers can be found here.
The Enable Alabama community also heard from excellent organizations through informative blogs and guest posts in 2019. We heard from Lynne Stokley and Debbie Lynn, the CEO of Easterseals Alabama and Executive Director of Easterseals Central Alabama, respectively, as well as from Ryan Wirth, the Deputy Director of Expansion Programs for Best Buddies. In addition to these Q&As, the Enable Alabama blog featured many great posts about common Account Owner questions, staying financially prepared, disability pride and how Account Owners can simplify their savings. The Enable Facebook page also highlighted many remarkable stories throughout 2019 involving individuals and organizations within the disability community. To keep up with these great posts, I encourage you to ‘Like’ the Enable Savings Plan Alabama (@EnableSavingsPlanAlabama) on Facebook.
While the year—and the decade—may be changing next week, Enable Alabama will remain a reliable partner in your financial preparation and independence. From helpful blogs to personalized guidance on reaching one’s savings goals, the Enable Alabama team will continue to honor our mission of helping Account Owners navigate the savings landscape confidently.
For those Account Owners who wish to document their savings journey, we welcome you to submit your own savings stories for a chance to be featured on the Enable Alabama blog. Blog topics can range from your experience with Enable Alabama to your top budgeting tips and beyond. Interested authors can reach out to Enable Alabama’s Outreach Specialist Diane Stewart (firstname.lastname@example.org) at any time to submit a story or idea.
Do you have any questions about the Enable Savings Plan Alabama? Feel free to get in touch with the Enable team at 1-866-833-7949 or via email at email@example.com. In the meantime, the Enable Alabama team and I wish you a wonderful holiday season and look forward to seeing you in 2020.