Treasurer McMillan's Message
The Alabama Treasurer’s Office is pleased to provide Enable Alabama for the betterment of disabled citizens in our State. Enable Alabama will encourage and assist individuals and families to save private funds to support individuals with disabilities in order to maintain health, independence, and quality of life.
The Federal ABLE (Achieving a Better Life Experience) Act was passed in December 2014 and was modeled after state-sponsored 529 college savings programs, like the CollegeCounts 529 Fund available in Alabama. The Alabama Legislature passed the Alabama ABLE Act in June 2015.
For the first time, qualifying children and adults in Alabama can experience greater financial independence without jeopardizing the public benefits they already may receive through Supplemental Security Income, Medicaid, or other needs-based programs.
Individuals with disabilities can now save more than $2,000 in assets in their name in a qualified ABLE account. Accounts will offer five options for savers – growth, moderate and conservative mutual funds, a bank savings investment option and a checking investment option.
We are proud to offer this financial product to eligible Alabamians and know it will make an significant impact on their lives.
Alabama State Treasurer