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ABLE Savings Flexibility: Employers Can Contribute Instead of Retirement Plans.

This law allows employees with disabilities who have ABLE accounts to redirect employer contributions from retirement plans directly into their ABLE savings. The primary goal is to enable these individuals to save for the future without jeopardizing their eligibility for vital federal benefits like SSI or Medicaid. This change provides greater financial flexibility and security for working individuals with disabilities.
Key points
Eligible ABLE individuals can elect to have employer retirement contributions (e.g., 401(k) match) deposited into their ABLE account instead of the retirement plan.
This protects individuals with disabilities from losing federal benefits, as ABLE account funds generally do not count toward asset limits.
Employers can deduct these contributions as compensation, and retirement plans maintain compliance with non-discrimination rules.
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Additional Information
Print number: 118_S_4911
Sponsor: Sen. Casey, Robert P., Jr. [D-PA]
Process start date: 2024-07-31
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-flash-latest
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 118_S_4911.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2024-07-31.

What are the main provisions?

Key points include:

  • Eligible ABLE individuals can elect to have employer retirement contributions (e.g., 401(k) match) deposited into their ABLE account instead of the retirement plan.
  • This protects individuals with disabilities from losing federal benefits, as ABLE account funds generally do not count toward asset limits.
  • Employers can deduct these contributions as compensation, and retirement plans maintain compliance with non-discrimination rules.
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 Sen. Casey, Robert P., Jr. [D-PA].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

CATEGORIES

Benefits Taxes Labor