Loading...
Annual report
Palmetto ABLE Savings Program
Palmetto ABLE Savings Program
Abstract
The Palmetto ABLE Savings Program allows individuals with disabilities the opportunity to save and invest money while maintaining eligibility for important needs-based benefits. The federal Achieving a Better Life Experience (“ABLE”) Act was passed in 2014. This legislation amended the IRS tax code by adding Section 529A which authorized states to establish programs allowing qualified individuals with disabilities to contribute to tax-advantaged ABLE accounts. These accounts allow eligible individuals to save and invest without jeopardizing eligibility for important needs-based benefits such as Supplemental Security Income (SSI) and Medicaid. In 2016, the South Carolina General Assembly created the Palmetto ABLE Savings Program and designated the State Treasurer’s Office as the program’s administrator.
Issue Date
2021-06-30
Keywords
Palmetto ABLE Savings Program
Type
Text
Rights
Copyright status determined to be in the public domain on April 27, 2020 by United States Supreme Court ruling (Georgia et al., Petitioners v. Public.Resource.Org, Inc. : 590 U.S.__(2020))
Digitization Specifications
This South Carolina State Document was either saved from a document available publicly online in PDF format or converted to PDF using Adobe Acrobat DC.