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KY STABLE account limits increased
Frankfort, KY - On October 8, 2018, Kentucky State Treasurer Allison Ball announced that STABLE Kentucky account holders who are employed can now contribute more to their STABLE Kentucky Accounts.
Previously, STABLE Kentucky Accounts allowed Kentuckians with disabilities to save $15,000 annually without jeopardizing benefits they receive. Now, individuals eligible for a STABLE Kentucky Account who are also employed can save up to $27,060 annually with STABLE Kentucky.
Treasurer Ball launched STABLE Kentucky in December 2016. STABLE Kentucky is Kentucky's implementation of the federal ABLE Act, passed in 2014. Currently, over 250 Kentuckians have opened STABLE Accounts under the program with a total market value of over $1 million.
"I am excited to announce that employed STABLE Kentucky Account holders can save an additional $12,060 per year in their STABLE Kentucky Accounts," Treasurer Ball said. "STABLE Kentucky Accounts give Kentuckians with disabilities the opportunity to save and invest money without jeopardizing benefits they receive such as Medicaid and SSI. Now, employed account holders can begin building wealth with their work earnings, too."
This story was posted on 2018-10-11 05:56:01
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