The Michigan Department of Treasury is urging hundreds of thousands of Michiganders with disabilities to explore MiABLE savings accounts as a pathway to greater financial freedom.
Nationally, individuals with disabilities receiving government benefits face a $2,000 federal asset limit. With double the likelihood of living in poverty compared to their peers, and increased challenges in employment, the MiABLE initiative aims to empower this demographic.
MiABLE allows eligible individuals and their families to save up to $18,000 annually, with employed beneficiaries having the opportunity to contribute an additional amount equal to their current-year gross income, up to $14,580. For those interested, a free webinar on the benefits of MiABLE is scheduled for 6 p.m. on Wednesday, Jan. 17th.
Reporting for WGRT – Choze Powell
