Hawaiʻi Launches Savings Program That Protects Disability Benefits
Gov. David Ige on Monday announced the launch of the Hawaiʻi ABLE (Achieving a Better Life Experience) Savings Program, which allows eligible individuals with disabilities to save money without jeopardizing their federal or state disability benefits.
ABLE accounts are federally established and managed at the state level.
“I encourage all Hawaiʻi residents with a qualifying disability to open a Hawaiʻi ABLE Savings account. ABLE provides the tools needed to achieve financial empowerment and help them prepare for a more independent and secure future, through a simple, intuitive online savings opportunity,” said Gov. Ige.
In 2019, Gov. Ige signed Kal’s Law, which allowed individuals with a qualifying disability to work full-time at minimum wage without losing state or federal benefits. This year, Gov. Ige signed a bill that became Act 55, which removes the practice of paying individuals a sub-minimum wage based solely on the fact the individual has a disability.
“For too long, people with disabilities could not save for the future out of fear of losing needed government benefits. The disability community fought long and hard to change this, and together we’ve come up with a solution,” said Daintry Bartoldus, executive administrator, Hawaiʻi State Council on Developmental Disabilities.
Hawaiʻi ABLE said it is proud to be part of the ABLE Collaboration and the ABLE for ALL Savings Plan, a national ABLE savings plan administered by the State of Oregon.
“We are excited to have Hawaiʻi join the ABLE Collaboration. We bring like-minded states together to offer these unique savings opportunities to people who experience disabilities. They deserve the ability to save for their future,” said David Bell, Deputy Director, Oregon Treasury Savings Network.
To ensure savers have access to reliable services and features that are ADA-compliant, the ABLE for ALL Savings Plan is partnered with Sumday Administration LLC, as part of the program’s plan manager. Sumday’s intuitive online platform is simple to use and helps people manage their ABLE accounts to reach their dreams.
For more information, including program eligibility and benefits, visit the Hawaiʻi ABLE Savings Program website at hawaiiablesavings.com.