Whether you operate on Main Street or in a multi-state network, your business has an influence, not just on your employees, but on your community as a whole. As our state’s economy continues to grow and diversify, so too should the tools and programs we use to support that growth.
One of the most impactful resources that Iowa offers is IAble, our state’s Achieving a Better Life Experience (ABLE) savings plan. Designed to empower eligible people living with disabilities by helping them save for current and future expenses without fear of losing eligibility for critical benefits, like SSI or Medicaid, this plan serves as a powerful tool for businesses as they support the financial wellness of their employees and families.
IAble helps eligible people save for education, assistive technology, emergencies and so much more without jeopardizing the crucial federal means-tested benefits they need to support their everyday lives. Right now, a person’s disability must be present prior to age 26 to be eligible; however, beginning Jan. 1, 2026, the eligibility age will expand to 46.
Here’s where you come in: we need business leaders to help spread the word. Currently, IAble serves just over 3,400 people across the state, but with this upcoming expansion, we will be able to serve so many more. We need your help to amplify this crucial plan. By working together, we can reach so many more Iowans and give those who didn’t have the ability to save before the opportunity to now.
Although you might not see the connection to your business now, ponder this – according to the CDC, more than one in four adults in the United States reported having a disability in 2022. Many of those people are already part of your workforce, customer base or community network. Some of your employees may already qualify for an IAble account, and not even realize it. In addition, many of your employees might be caregivers for an eligible person with a disability and could direct deposit all or a portion of their paycheck into an IAble account and Iowa taxpayers can reap the tax benefits while supporting a loved one.
A simple conversation could lead to financial independence for someone who didn’t know this opportunity existed. So, I have a challenge for you – reach out to your HR Department and figure out how you can incorporate IAble into your HR conversations. Whether it’s on day one during onboarding, in your internal newsletter or even on the company’s bulletin board, you’ll extend the reach of a program that is life-changing for many Iowans.
Just as companies have embraced 401(k)s, HSAs and wellness programs to support employee health, IAble represents another path your company can take to promote financial well-being. Most importantly, there’s no cost for your company to offer this state-managed plan. By learning more about IAble and making the information available to your workforce, you’re helping us spread the word and promote this important tool across Iowa.
At its heart, IAble is about creating a future where Iowans with disabilities can dream, plan and save like anyone else — without sacrificing the support they rely on. Business leaders, like you, have an important role to play in building that future. It starts with education, followed by action, so I encourage you to visit IAble.gov and learn more about this critical program. You never know just how much impact you can make on someone’s life by taking a few minutes to learn more.
For more details about IAble, review the Plan Disclosure Booklet.
Roby Smith was elected to serve as Iowa’s 26th State Treasurer and began his tenure in 2023.
