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ABLE Employment Flexibility: Employer Contributions to ABLE Accounts Instead of Retirement Plans

This act allows employers to contribute to special ABLE accounts for individuals with disabilities, instead of traditional retirement plans. This helps people with disabilities save money without losing social benefits. These changes aim to make saving and financial management easier for those eligible for ABLE accounts.
Key points
Employers can contribute to ABLE accounts for employees with disabilities instead of retirement plans.
These contributions will not affect non-discrimination rules in retirement plans.
Employer contributions to an ABLE account will be treated as if made by the beneficiary.
Employers may deduct these contributions as a business expense, under certain conditions.
The act aims to protect individuals with disabilities from losing benefits due to retirement savings.
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Additional Information
Print number: 117_HR_4672
Sponsor: Rep. Suozzi, Thomas R. [D-NY-3]
Process start date: 2021-07-22
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Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

ABLE Employment Flexibility Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_4672.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-07-22.

What are the main provisions?

Key points include:

  • Employers can contribute to ABLE accounts for employees with disabilities instead of retirement plans.
  • These contributions will not affect non-discrimination rules in retirement plans.
  • Employer contributions to an ABLE account will be treated as if made by the beneficiary.
  • Employers may deduct these contributions as a business expense, under certain conditions.
  • The act aims to protect individuals with disabilities from losing benefits due to retirement savings.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Suozzi, Thomas R. [D-NY-3].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Benefits Taxes Labor